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Using imbalanced panel data of nonfinancial Vietnamese listed firms from 2005 to 2021, this paper explores the potential effect of ownership on firms' cash levels.

Two hypotheses are tested using different methods, including pooled ordinary least squares (POLS) and system-generalized method of moments (GMM), to investigate the ownership–cash holding relationship for various firm scenarios. Both book and market measures of the cash ratio are examined.

Results show that foreign and state ownership encourages firms to increase their cash reserves. The positive relationship between ownership and cash holding is, especially, pronounced for firms in the financial deficit.

This research suggests that in this emerging market, outside ownership substantially accelerates cash to hedge against the unexpected issues caused by poor investor protection, low political accountability and information asymmetry.

The study contributes to the existing understanding of the relationship between ownership and corporate cash holdings in the context of a typical emerging market. Besides, it expands the existing knowledge to the extent of such relations in the event of a financial shortage.

This paper aims to investigate the possible non-linear effect of net working capital (NWC) level on profitability for Middle East and North Africa (MENA) region listed companies. Furthermore, the study tests the possible interactive effect of cash levels on the relationship between NWC and profitability.

NWC level is the independent variable and profitability is the dependent variable using two proxies, return on assets (ROA) and returns on equity (ROE). Control variables are size, leverage, gross domestic product growth and sales revenue growth. The generalized method of moments was used to analyze the data of 134 consumer-goods listed firms in 12 MENA countries for the period 2013–2019.

The results demonstrate that NWC levels had a non-linear effect on profitability using ROA as a profitability proxy while results were insignificant using ROE as a profitability proxy. Furthermore, results show the absence of interactive effects between NWC, cash levels and both profitability proxies.

The study fills a gap in the working capital management (WCM) literature by providing new evidence on WCM’s non-linear effect of corporate performance in the MENA region emerging markets using the consumer-goods industry sample. The study contributes to the financial managers’ working capital optimization efforts in the MENA region by providing evidence on the usefulness of WC optimization efforts in the region from a financial performance point of view. According to the researchers’ knowledge, a few studies attempted to investigate this non-linear relationship for neither MENA region countries nor the consumer-goods industry.

Many entrepreneurs want to reach high to the heavens to achieve unlimited success. These hardworking, often underappreciated, venturers often crave fame and fortune as they strive to create their personal business legacy. One strategic path many have wandered down is that of the Initial Public Offering (IPO), whereby shares of the company are sold to the public. The IPO has many strong attractions. Large amounts of capital can be brought into the company.The company's stock can be used as currency to acquire other companies. Early investors realize a good ROI. Employees can perceive real value in their stock options. Customers, banks, vendors, and other stakeholders pay more respect to the company. Is this truly the entrepreneurʼs nirvana? Or is it a case of “Be careful of what you wish for because it may really come true?” Read on.

The purpose of this paper is to contribute to a better understanding of the financial decision-making process of farmers and to highlight the potential role that improved farm financial management (FFM) could play in developing sustainable farm enterprises.

This paper adopts a qualitative approach with 27 semi-structured interviews exploring farmers’ financial decision-making processes. Subsequently, the interview findings were presented to a focus group. Sensemaking theory is adopted as a theoretical lens to develop the empirical findings.

The evidence highlights that FFM has a dual role to play in farmer decision-making. Some FFM activities may act as a cue, which triggers a sensebreaking activity, causing the farmer to enter a process of sensemaking whilst some/other FFM activities are drawn upon to provide a sensegiving role in the sensemaking process. The role of FFM in farmer decision-making is strongly influenced by the decision type (strategic or operational) being undertaken and the farm type (dairy, tillage or beef) in operation.

The literature suggests that the majority of farmers spend little time on financial management. However, there are farmers who have quite a high level of engagement in FFM activities, when undertaking strategic farm expansion decisions. Those FFM activities help them to navigate through operational decision-making and to make sense of their strategic decision-making.

Status of fiscal health of local governments helps in determining planned budget and realistic action plan for citizens’ wellbeing. This paper aims to assess the fiscal health of local governments in Bangladesh.

Using data from 18 south-western municipalities of Bangladesh during the fiscal year 2018–19, this research measures fiscal health by applying Wang, Dennis and Tu’s solvency test and Brown’s Ten-Point Test.

The result shows that one-tenth of the entire municipalities are endowed with better position, whereas almost 39 percent of municipalities are in the worst situation and nearly 50 percent of municipalities are in the average category. Because of having limited liabilities, the municipalities are endowed with more than enough cash solvency and reasonable level of long-run solvency. The key problems are that budgetary solvency of all municipalities is not satisfactory, and service expenses are more than their revenue generation. This study suggests improving the financial capabilities of the municipalities through properly using their resources, generating loans, and claiming a need-based budget from the central government.

The paper investigates the status of fiscal solvency of local governments in Bangladesh in a new dimension. The findings might be helpful to policymakers in budgeting for development initiatives of local governments in Bangladesh so that citizens’ better wellbeing is ensured.

This study aims to provide evidence of how budget officers use non-financial and accrual-based cost information in the budgeting process and how the usage of this information is influenced by financial constraints.

A randomized survey-based field experiment investigating budget officers in 546 Japanese local governments (LGs) was conducted. This allowed us to identify the budget officers' decision-making in the public sector budgeting process by creating and analyzing primary data with regression models.

We found that budget officers suppress budget amounts based on non-financial information of good performances. Under fiscal constraints, officers further reduce budget amounts using information on high accrual-based costs and poor non-financial performance.

Our survey-based field experiment allowed us to obtain primary data from officers making budget decisions. To the best of our knowledge, this study provides the first evidence that non-financial good and poor performance information and accrual-based cost information affect budget officers' decision-making under financial constrain.

The purpose of this polyphonic paper is to report on interdisciplinary discussions on the state-of-the-art and future of public sector accounting research (PSAR). The authors hope to enliven the debates of the past and future developments in terms of context, themes, theories, methods and impacts in the field of PSAR by the exchanges they include here.

This polyphonic paper adopts an interdisciplinary approach. It brings into conversation ideas, views and approaches of several scholars on the actual and future developments of PSAR in various contexts, and explores potential implications.

This paper has brought together scholars from a plurality of disciplines, research methods and geographical areas, showing at the same time several points of convergence on important future themes (such as accounting as a mean for public, accounting, hybridity and value pluralism) and enabling conditions (accounting capabilities, profession and digitalisation) for PSA scholarship and practice, and the richness of looking at them from a plurality of perspectives.

Exploring these past and future developments opens up the potential for interesting theoretical insights. A much greater theoretical and practical reconsideration of PSAR will be fostered by the exchanges included here.

In setting out a future research agenda, this paper fosters theoretical and methodological pluralism in the interdisciplinary research community interested in PSAR in various contexts. The discussion perspectives presented in this paper constitute not only a basis for further research in this relevant accounting area on the role, status and developments of PSAR but also creative potential for practitioners to be more reflective on their practices and also intended and united outcomes of such practices.