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The purpose of this study is to focus deeply on the short term to explain the relative long-term evolution of the Argentinian economy in the long and the short term.

The study of the long-term evolution of the Argentine economy and identifying the moment in which it began to lose ground compared to other developed economies, such as Australia and Canada, constitutes the central axis of the historiography of this country. However, an additional problem presented by the Argentine economy is its high volatility. For this reason, the long term should be influenced by the short term, an issue that requires a more detailed study of the cyclical behavior and a deep analysis of the relationship between the long and the short term.

The results obtained point to a cyclical development that influences the long-term evolution and, therefore, explains Argentina’s convergence process with Australia and Canada. Frequent deep busts and short booms characterize the Argentine cycle, offsetting its long-term growth potential.

Although the long term has been profusely studied in Argentina, the short term has not been analyzed to the same extent, which is surprising given the extreme volatility of this economy (Prebisch, 1950). The studies performed on economic cycles have always been partial, disconnected from the long term and carried out without much technical rigor.

Using a sample of oil and gas firms in the USA, the study examines the relation between the presence of hedging and annual report readability.

The authors use regression analysis to examine the relation between the presence of hedging and annual report readability.

The authors find that annual reports of firms with the use of hedging are less readable (i.e. difficult to read and understand). The authors also find that the primary results are more pronounced for firms with a higher level of business volatility.

The study contributes to the finance literature on the use and value of hedging and to the accounting literature on the determinants of annual report readability. The Securities and Exchange Commission (SEC) has persistently asked companies to improve the readability of their disclosures to stakeholders (SEC, 1998; 2013, 2014). Hence, the study not only identifies a potential determinant (i.e. hedging) that may influence the level of readability but also supports the current regulatory policy by the SEC, which is encouraging companies to improve readability.

This paper aims to compare the readability of narrative annual report disclosure pre- and post-International Financial Reporting Standards (IFRS) adoption using a computational linguistics programme to determine if annual report disclosures have become more difficult or easier to read following the adoption of IFRS.

This paper empirically measures narrative annual report disclosure readability pre- and post-IFRS adoption using a computational linguistics programme. In this analysis, the authors control for variables that have been identified as relevant to the understanding of financial disclosures, such as size, business volatility, financial leverage and industry.

Significant relationships have been identified between IFRS adoption and reduced readability indicators using readability formulas, and also using other factors such as increased length of annual report disclosures and increased use of tables. Findings suggest that the adoption of IFRS has added complexity and resulted in reduced readability of annual report disclosures.

Academic backing to claims of IFRS’s negative implications for financial statements and their ultimate users should encourage action on the part of standard setters and report preparers to address the negative impacts of IFRS adoption.

This paper is the first to provide evidence that New Zealand equivalents to IFRS adoption have resulted in not only longer disclosures but also more complicated disclosures.

The purpose of this paper is to investigate the supply chain management (SCM) skills that support the sensing and seizing of opportunities in a changing business environment.

Based on the previous literature on the T-shaped model of SCM skills, data were collected through a mail survey among Australian business executives. The resultant skill sets are grouped along factors that support the sensing vs seizing of opportunities.

Interestingly from an SCM perspective, functional logistics-related skills are important to maintain competitiveness but are not the ones contributing to a firm’s ability to sense opportunities and threats, and to seize opportunities in a changing business environment. The authors, therefore, support the notion that supply chain managers should be managers first. Factual SCM knowledge is the solid basis, but otherwise only an entry requirement in this field.

Problem-solving skills, along with forecasting and customer/supplier relationship management, stand out as important components that support the ability of supply chain managers to sense and shape opportunities and threats in a turbulent business environment. This focus would tend to suggest the importance of supply chain integration and collaboration as management approaches. Other SCM skills from warehousing and inventory management to transportation and purchasing are more prevalent for maintaining competitiveness.

The results of the survey and the consequential analysis indicate that the content of tertiary-level educational programmes should be significantly reviewed to deliver two distinct (but partially overlapping) streams that focus on the generalist and functionalist managers who must work together in the management of the increasingly global and complex supply chains.

Functional skills often form the basis of training and education programmes for supply chain managers. Whilst these form the solid foundation for their jobs, they are entry requirements at best. In a changing business environment, other skills are needed for success. Given that turbulence is becoming the norm rather than the exception, this finding necessitates rethinking in training and education programmes, as well as in the recruitment of supply chain managers.

Testing the T-shaped model of SCM skills from a dynamic capabilities perspective, the results of the factor analysis lead to a regrouping of skill sets in terms of sensing and seizing opportunities in a turbulent business environment.

The purpose of this study is to examine determinants of profitability of non-financial firms listed small- and medium-sized enterprises (SMEs) in the UK from 2012 till 2020. It has been argued that profitability plays a key role in economic development and growth. Despite the important role that SMEs play in developed economies like UK, academic research into SMEs profitability determinants in developed countries is not extensive.

The methodologies used include dynamic panel data estimation techniques. Relationship of nine independent variables with profitability was examined. Two models are created using return on assets (ROA) and return on equity (ROE) as dependent variables. Size, age, efficiency, working capital, liquidity, leverage and volatility of the firm represent firm-specific independent variables. Two macroeconomic variables, namely, gross domestic product and inflation are also used as independent variables. Data obtained from Thomson Reuters Data Stream for 93 listed SMEs companies in the UK from 2012 to 2020. Fixed effects, random effects and generalized method of moments were used in data analysis.

All variables showed significant influence on profitability, except liquidity reflecting insignificant impact on profitability in two regression models conducted for 93 firms under study. Efficiency, liquidity and leverage are the only three independent variables with similar impact on both ROA and ROE.

Identifying determinants of profitability will help stakeholders and corporate executive make sound decisions to ensure sustainability and stability at the firm level. This is particularly important given the key role played by SMEs in economic development and growth. The findings of this study would help direct financial management practices to ensure a favorable sustainable organizational performance.

This study differs from previous studies that focused mainly on developing countries; with limited research conducted on profitability of SMEs in developed economies. To the best of the author’s knowledge, this is the first study to examine factors influencing profitability of SMEs in UK. Previous studies concentrated on service sector like insurance and hotel firms.

The purpose of this paper is to examine what factors in addition to the needs of financial markets drive the voluntary disclosure practices of companies in Italy and in the United States.

Information provided in the management discussion and analysis section of the annual reports of 72 companies was content analyzed to determine the volume and the quality of voluntary disclosures.

Results show that in addition to investors' information needs, factors such as company emphasis on stakeholder management, relevance of intangible asset, and market complexity affect both the volume as well as the quality of voluntary disclosures.

The study is based on the voluntary disclosures made in a single year, which makes this study a snapshot. The size of the sample used in this study is relatively small. Future research aimed at examining country differences in voluntary disclosures made by companies needs to examine the business contexts in a comprehensive manner, so that differences observed across country boundaries can be adequately explained.

The comprehensive framework developed in this study for organizing and evaluating voluntary disclosures is an initial step in the direction of examining voluntary disclosure from the stakeholder perspective.

While results of this study confirm the findings of previous researchers, they also identify new drivers of voluntary disclosures and give some evidence about the similarity and differences in these factors across country contexts.

The purpose of this paper is to examine the relationship that exists between financial depth and economic growth in Poland for the years 1995–2019. This paper utilizes integration and co-integration techniques to capture the long-term and short-term linkages between various determinants of financial deepening, economic growth and a few selected growth variables. Financial depth is measured using two distinct measures: the monetization ratio (i.e. the ratio of broad money in the economy to the gross domestic product (GDP)) and the domestic credit provided to private sector by banks.

The paper uses a combination of Augmented Dickey–Fuller (ADF) and Phillips–Perron unit root tests, autoregressive distributive lag (ARDL) model and Granger causality tests to estimate results.

This paper finds that there is a bidirectional causal relationship between financial deepening and economic growth in the short run, but this relationship does not hold in the long run. The control variables comprising trade volume, investment, government spending and volatility in oil prices and inflation have a significant, positive relationship with economic development in the long run.

The findings are indicative of the need for further strengthening of the financial sector in Poland, such that the relationship between financial depth and economic growth is substantiated in the long run. This paper also finds room for more stringent regulation of the financial system and transparency in information available.

The purpose of this paper is to examine a recent comprehensive corporate real estate (CRE) alignment model which was derived from previous CRE alignment models. This study proposes several modifications and additions based on business and decision-making literature to increase the framework’s multidisciplinary strength and extend its implementation phase.

Literature from various fields is reviewed and “lessons” incorporated into the framework. The business literature review began with corporate strategy theories cited in CRE alignment theory and extended to critiques of those and more recent theories. Likewise, decision-making and implementation both began with material cited in CRE literature and “rippled” out to encompass pertinent material.

The model used provides a robust framework, and this study has identified several areas that would appear to improve that model from a theoretical and practical perspective. Areas of further research are identified that appear to offer opportunities to further develop the framework.

Historically, there has been a tendency for new CRE alignment models to be created rather than existing ones being developed further. Here, a framework derived from a meta-study of CRE alignment models is reviewed, and improvements are proposed to further develop CRE alignment theory and its application in practice through the addition of viewpoints from the business field and more focus on the implementation phase of the model.

To address how organizations should be malleable, the purpose herein is to draw on complementarity theory to examine the interaction effect of customer integration (i.e. coordination) and shared relationship governance (i.e. cooperation) on supply chain adaptability and firm's performance.

A survey research design is adopted to collect primary data from 177 automotive components suppliers. After assessing the measures' psychometric properties, the hypothesized relationships are evaluated using hierarchical regression analysis supplemented by structural equation modeling and complementarity test.

In the context of industrial markets, and specifically the automotive component industry, a complementary interaction effect is found between coordination and cooperation. The complementary impact was significant in affecting the supply chain adaptability and the firm's performance. Our results refine the existing supply chain integration by highlighting the complementary effect of coordination and cooperation.

Understanding the true interaction effect between cooperation and coordination to develop supply chain integration avoids decision-makers' misperception over or underinvesting in activities. This research also provides key insights on the complementary effect of coordination and cooperation to establish structural flexibility in the supply chain and the ability to respond to the disruptions, such as the COVID-19 pandemic.

Understanding the true interaction effect between cooperation and coordination to develop supply chain integration avoids decision-makers' misperception over or underinvesting in activities. The implications for theory and practice are also presented.