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The purpose of this paper is to examine the impact of greater reporting prominence of translation results following Accounting Standard Update (ASU) 2011-05 on net investment (NI) hedging practice. The authors investigate the role of increased transparency on the decision to engage in NI hedging (participation), the degree of NI hedging (level) and the hedging vehicle choice.

This paper uses the Heckman two-stage procedure (Heckman, 1979) in the hedging choice analysis. In the first stage, the authors model the participation decision as a function of reporting transparency, translation results and other control variables. In the second stage, the authors include the Inverse Mills ratio from the first stage Probit to examine both the level and vehicle choice decisions.

When translation is reported more prominently, the authors find an increase in the level of NI hedging and a greater likelihood of debt as the hedging vehicle, but no evidence firms are more likely to hedge. Regardless of where translation results are reported, firms facing ongoing translation losses are more likely to hedge.

This paper examines S&P 500 firms in the years surrounding the effective date of ASU 2011-05. The findings suggest managers respond to the increase in reporting transparency by increasing hedging for long-term risk management purposes, supporting accounting authorities’ efforts to promote other comprehensive income information transparency. The results should hold for comparable firms with similar currency exposure, size and visibility, but may not apply to smaller firms with limited translation exposure. As only about a quarter of firms with translation exposure engage in NI hedging, the primary results are based on a relatively limited number of firms.

To the best of the authors’ knowledge, this is the first study that examines NI hedging behavior changes following ASU-2011-05. Second, the authors are the first to explore why firms are almost equally split between derivatives and debt as their exclusive hedging vehicle.

How do radical technological fields become naturalized and taken for granted? This is a fundamental question given both the positive and negative hype surrounding the emergence of many new technologies. In this chapter, we study the emergence of the US nanotechnology field, focusing on uncovering the mechanisms by which leaders of the National Nanotechnology Initiative managed hype and its concomitant legitimacy challenges which threatened the commercial viability of nanotechnology. Drawing on the cultural entrepreneurship literature at the interface of strategy and organization theory, we argue that the construction of a naturalizing frame – a frame that focuses attention and practice on mundane, “rationalized” activity – is key to legitimating a novel and uncertain technological field. Leveraging the insights from our case study, we further develop a staged process model of how a naturalizing frame may be constructed, thereby paving the way for a decrease in hype and the institutionalization of new technologies.

Using visual materials to understand a social object requires the researcher to know that object's purpose, and this is true whether the object is an artifact, a restricted event, a small social world, or something as massive as the modern city. I argue that the purpose of the city as a settlement is driven by the need to safely sleep in peace at night while satisfying other basic biophysical needs during the day as conveniently as possible. An examination of these needs identifies 10 functional prerequisites for human settlement, entangling its inhabitants in involuntary community with entities and events other than themselves, whether they like it or not. In addition, the rise of the modern city exacerbates the challenge of living in a reluctant community and pressures its inhabitants to come to terms with the consequences for how these relationships affect daily life. I highlight nine challenges posed as questions that have been particularly salient in American urban history since the mid-nineteenth century. How these challenges have been addressed indicates not only what it takes to make a modern city a settlement suitable for satisfying human needs, but also just how deeply invested its residents are in making the city work. Finally, the 10 functional prerequisites and nine moral challenges not only provide a framework for researching the city, but also suggest a coherent outline for imagining a “shooting script” or guide for conducting visual research.

The objective of this systematic literature review (SLR) is to explore the current state of research in the field of household finance (HF). This study aims to summarize the existing research to highlight the importance of household finance in a nation’s economy. By exploring all conceptual and applied implications of HF, this study projects directions for future research to develop a comprehensive understanding of the subject.

This SLR is based on 112 articles published in peer-reviewed journals between 2006 and 2020 (Table 3). The methodology comprises five steps, namely, formulation of research questions, identification of studies, their selection and evaluation, analyses and syntheses and presentation of results.

The findings of this study show that studies on HF are gradually increasing worldwide with the USA registering the highest number of published research on the topic during the period under scrutiny. Notwithstanding the increasing attention and research on HF, empirical research in emerging economies is lagging. Additionally, this study finds that HF structure presents a perfect setting to understand how households compose their financial portfolio, make financial decisions and what factors influence their decisions.

This study is an SLR – an accurate and accepted method of reviewing available literature on a selected subject. However, the selection of inclusion and exclusion criteria depends on the researchers’ rationale which might lead to research bias. This should be considered an inherent limitation of SLR.

By synthesizing the contents of extant literature, this study presents important insights into HF. This study underlines the most discussed topics in the domain and identifies potential investigation areas. This study gives the knowledge of leading articles, authors and journals and informs scholars and academicians about the areas that need further investigation by portraying the complete picture of the subject in a systematic manner. Further, this study highlights that households make suboptimal financial decisions that affect their financial well-being. To reduce the adverse impacts of these decisions, policymakers and financial institutions must take steps to improve households’ use of formal financial markets. Household decisions can be reformed by enhancing consumers’ knowledge about financial products and services. Furthermore, households can be served better by offering customization in traditional financial products.

This study synthesizes the main findings of selected literature on HF. The expansion of studies on HF has generated the need to review the existing literature in a systematic manner. To the researchers’ best knowledge, this SLR is the first thorough study of available articles in the HF domain. This study presents the scope of future research by highlighting numerous aspects and functions of HF.