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Article
Publication date: 17 December 2019

Massimo Contrafatto, John Ferguson, David Power, Lorna Stevenson and David Collison

The purpose of this paper is to provide a theoretically informed analysis of a struggle for power over the regulation of corporate social responsibility (CSR) and social…

Abstract

Purpose

The purpose of this paper is to provide a theoretically informed analysis of a struggle for power over the regulation of corporate social responsibility (CSR) and social and environmental accounting and reporting (SEAR) within the European Union.

Design/methodology/approach

The paper combines insights from institutional theory (Lawrence and Buchanan, 2017) with Vaara et al.’s (2006) and Vaara and Tienar’s (2008) discursive strategies approach in order to interrogate the dynamics of the institutional “arena” that emerged in 2001, following the European Commission’s publication of a Green Paper (GP) on CSR policy and reporting. Drawing on multiple sources of data (including newspaper coverage, semi-structured interviews and written submissions by companies and NGOs), the authors analyse the institutional political strategies employed by companies and NGOs – two of the key stakeholder groupings who sought to influence the dynamics and outcome of the European initiative.

Findings

The results show that the 2001 GP was a “triggering event” (Hoffman, 1999) that led to the formation of the institutional arena that centred on whether CSR policy and reporting should be voluntary or mandatory. The findings highlight how two separate, but related forms of power (systemic and episodic power) were exercised much more effectively by companies compared to NGOs. The analysis of the power initiatives and discursive strategies deployed in the arena provides a theoretically informed understanding of the ways in which companies acted in concert to reach their objective of maintaining CSR and SEAR as a voluntary activity.

Originality/value

The theoretical framework outlined in the paper highlights how the analysis of CSR and SEAR regulation can be enriched by examining the deployment of episodic and systemic power by relevant actors.

Details

Accounting, Auditing & Accountability Journal, vol. 33 no. 3
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 1 September 2003

Theresa Dunne, Christine Helliar and David Power

Derivatives reporting requirements are numerous and varied – from the disclosure only requirements of FRS 13, to the abolishment of hedge accounting proposed by the JWG…

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Abstract

Derivatives reporting requirements are numerous and varied – from the disclosure only requirements of FRS 13, to the abolishment of hedge accounting proposed by the JWG. The present article attempts to outline the differences and similarities between the various derivatives accounting standards and proposed standards.

Details

Balance Sheet, vol. 11 no. 3
Type: Research Article
ISSN: 0965-7967

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Article
Publication date: 5 February 2018

Anwar Halari, Christine Helliar, David M. Power and Nongnuch Tantisantiwong

Studies on Islamic calendar anomalies in financial markets tend to apply quantitative analysis to historic share prices. Surprisingly, there is a lack of research…

Abstract

Purpose

Studies on Islamic calendar anomalies in financial markets tend to apply quantitative analysis to historic share prices. Surprisingly, there is a lack of research investigating whether the participants of such markets are aware of these anomalies and whether these anomalies affect their investment practice. Or is it a case that these practitioners are completely unaware of the anomalies present in these markets and are missing out on profitable opportunities? The purpose of this paper is to analyse the views of influential participants within the Pakistani Stock Market.

Design/methodology/approach

The study documents the findings for 19 face-to-face semi-structured interviews conducted with brokers, regulators and high-net-worth individual investors in Karachi.

Findings

The paper’s major findings indicate that the participants believed that anomalies were present in the stock market and market participants were actively attempting to exploit these anomalies for abnormal gains. Interviewees suggested that predictable patterns can be identified in certain Islamic months (Muharram, Safar, Ramadan and Zil Hajj). The most common pattern highlighted by the interviews related to the month of Ramadan. Furthermore, interviewees mentioned the influence of the “Memon” community in the Pakistani Stock Market. Respondents also suggested that investor sentiment played an important role in influencing the stock market prices and trading patterns.

Originality/value

Because all the prior studies investigating Islamic calendar anomalies in Muslim-majority countries adopted quantitative method using secondary data, the current investigation is of particular value, as it focuses on the qualitative analyses and reports the views of market participants. This allows to fully explore the topic under investigation and to draw robust conclusions.

Details

Qualitative Research in Financial Markets, vol. 10 no. 1
Type: Research Article
ISSN: 1755-4179

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Article
Publication date: 8 May 2018

Ghassan H. Mardini, Yasean A. Tahat and David M. Power

The purpose of this paper is to examine the extent of segmental reporting disclosure and its value relevance to a sample of Qatari and Jordanian listed companies following…

Abstract

Purpose

The purpose of this paper is to examine the extent of segmental reporting disclosure and its value relevance to a sample of Qatari and Jordanian listed companies following the implementation review of the International Financial Reporting Standard (IFRS) 8. This was the first standard to be subjected to a post-implementation review. Annual reports are initially analyzed to investigate the level of segmental information that was published by companies in these two countries.

Design/methodology/approach

Using the Ohlson (1995) model, the study employs regression analysis to test the hypotheses relating to the value relevance of the segmental disclosures uncovered. In addition, one-way ANOVA and Kruskal-Wallis tests are used to investigate any variation in segmental reporting among sectors.

Findings

The findings indicate that the amount of segmental information disclosed by the sample firms differs across sectors. Moreover, the segmental information provided (including the number of segments and the amounts of disclosure) is value relevant and can explain the variations in firms’ share prices.

Practical implications

The results of the current investigation have implications for policy makers, including the International Accounting Standards Board, as well as for accounting regulators in Jordan and Qatar. They suggest that the segmental disclosures supplied under IFRS 8 are value relevant for equity prices in a developing country context. Compliance with IFRS 8 should thus be monitored to ensure that all firms provide the segmental disclosures that they are meant to supply under the terms of the standard.

Originality/value

This paper is one of the few to provide empirical evidence on the role of segmental reporting following the post-implementation review that was conducted for IFRS 8.

Details

Journal of Accounting in Emerging Economies, vol. 8 no. 2
Type: Research Article
ISSN: 2042-1168

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Article
Publication date: 5 August 2019

Ahmed H. Ahmed, Yasser Eliwa and David M. Power

There has been an ongoing call from various groups of stakeholders for social and environmental practices to be integrated into companies’ operations. A number of…

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1161

Abstract

Purpose

There has been an ongoing call from various groups of stakeholders for social and environmental practices to be integrated into companies’ operations. A number of companies have responded by engaging in socially and environmentally responsible activities, while others choose not to participate in these activities, which incur additional costs. The absence of consensus regarding the economic implications of social and environmental practices provides the impetus for this paper. This study aims to examine the association between corporate social and environmental practices (CSEP) and the cost of equity capital measured by four ex ante measures using a sample of UK listed companies.

Design/methodology/approach

First, we undertake a review of the extant literature on CSEP. Second, using a sample of 236 companies surveyed in “Britain’s most admired companies” in terms of “community and environmental responsibility” during the period 2010-2014, we estimate four implied a cost of equity capital proxies. The relationship between a companies’ cost of equity capital and its CSEP is then calculated.

Findings

The authors find evidence that companies with higher levels of CSEP have a lower cost of equity capital. This finding determines the significant role played by CSEP in helping users to make useful decisions. Also, it supports arguments that firms with socially responsible practices have lower risk and higher valuation.

Practical implications

The finding encourages companies to be more socially and environmentally responsible. Furthermore, it provides up-to-date evidence of the economic consequences of CSEP. The results should, therefore, be of interest to managers, regulators and standard-setters charged with developing regulations to control CSEP, as these practices are still undertaken on a voluntary basis by companies.

Originality/value

To the best of the authors’ knowledge, this is the first study to investigate the association between CSEP of British companies and their cost of equity capital. The study complements Ghoul et al. (2011), who examine the relationship between CSR and the cost of equity capital of the US sample. The authors extend Ghoul et al. (2011) by using a sample of the UK market after applying International Financial Reporting Standards.

Details

International Journal of Accounting & Information Management, vol. 27 no. 3
Type: Research Article
ISSN: 1834-7649

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Article
Publication date: 5 September 2016

Yasean A. Tahat, Theresa Dunne, Suzanne Fifield and David M. Power

The main aim of this paper is to investigate Financial Instruments (FIs) disclosures provided by Jordanian listed companies under International Financial Reporting…

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2471

Abstract

Purpose

The main aim of this paper is to investigate Financial Instruments (FIs) disclosures provided by Jordanian listed companies under International Financial Reporting Standard No. 7 (IFRS 7) as compared to those supplied under International Accounting Standards (IAS) 30/32.

Design/methodology/approach

A sample of 82 Jordanian listed companies is used in this monograph. A disclosure index checklist was constructed to measure FI information provided by the sample companies.

Findings

The study finds that a larger number of Jordanian listed companies provided a greater level of FI-related information after IFRS 7 was implemented. Specifically, the sample firms provided 47 per cent of the disclosure index items after implementing IFRS 7 as compared to 30 per cent under IAS 30/32. In addition, the industrial analysis of FI disclosure revealed that the highest level of disclosure was provided by firms in the banking sector over the two periods; these companies disclosed 44 per cent of FI-related items pre-IFRS 7 and 69 per cent of items post-IFRS 7. Moreover, the industrial analysis of FI disclosure pre-and post-implementation of IFRS 7 revealed specific aspects of usefulness. In particular, some components of FI disclosure (Balance Sheet and Fair Value) showed no significant differences within and across sectors post the implementation of IFRS 7, suggesting that the new standard may have enhanced the comparability of such information.

Research limitations/implications

The results provide timely findings to Jordanian authorities who may be trying to evaluate the current reforms adopted; stringent enforcement mechanisms are needed to ensure full compliance with accounting standards. However, the present investigation was conducted on a single nation (Jordan); the circumstances in Jordan gave rise to the importance of the current study. A cross-country comparative analysis is needed in order to examine the application of IFRS 7 in a developing country context.

Practical implications

The results of the current study have a number of implications for policymakers. First, they provide a great deal of insight for the International Accounting Standards Board about the relevance of its standards to countries outside the Western context. In addition, the findings provide valuable insights for policymakers in Jordan who are concerned about the implications of mandatory disclosures.

Originality/value

The analysis of FI disclosure in developing countries in general, and in Jordan in particular has been overlooked by the extant literature and therefore this study is the first of its kind to examine this research issue for a sample of Jordanian firms.

Details

Accounting Research Journal, vol. 29 no. 3
Type: Research Article
ISSN: 1030-9616

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Article
Publication date: 22 February 2011

David McMillan and Pako Thupayagale

The purpose of this paper is to estimate volatility in African stock markets (ASMs), taking account of periodic level shifts in the mean level of volatility, where the…

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1205

Abstract

Purpose

The purpose of this paper is to estimate volatility in African stock markets (ASMs), taking account of periodic level shifts in the mean level of volatility, where the regime shifts are determined endogenously.

Design/methodology/approach

Volatility estimates are incorporated into standard volatility models to assess the impact of structural breaks on volatility persistence, long memory and forecasting performance for ASMs.

Findings

The results presented here indeed suggest that persistence and long memory in volatility are overestimated when regime shifts are not accounted for. In particular, application of breakpoint tests and a moving average procedure suggest that unconditional volatility displays substantial time variation.

Practical implications

A modification of the standard generalised autoregressive conditional heteroscedasticity model to allow for time variation in the unconditional variance generates improved volatility forecasting performance for some African markets.

Originality/value

This paper describes one of the first studies to incorporate endogenously determined regime shifts into volatility estimates and assess the impact of structural breaks on volatility persistence, long memory and forecasting performance for ASMs.

Details

Managerial Finance, vol. 37 no. 3
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 6 September 2021

Elaina Behounek and Michelle Hughes Miller

The purpose of this study is to understand mediation in divorce cases where intimate partner violence (IPV) is a concern. These cases may involve managing power

Abstract

Purpose

The purpose of this study is to understand mediation in divorce cases where intimate partner violence (IPV) is a concern. These cases may involve managing power imbalances, coercive control or risk for continued violence.

Design/methodology/approach

In this paper, the authors use feminist and sociological theoretical approaches and grounded theory to analyze triangulated ethnographic data to explore how mediators construct and manage the issue of IPV in mediation.

Findings

The results indicate that mediators often share a common discourse about IPV that asserts that mediators are professionals with the skills to both identify IPV and to appropriately conduct mediations where IPV is present. However, to achieve successful mediations mediators sometimes choose to discount the seriousness of IPV in assessments. They also use a set of fluid strategies to handle potential power imbalances that allow them to represent themselves as unbiased, even while those strategies risk the equity of the mediation.

Practical implications

The authors share several strategies that could enhance the social justice of the process for all parties, including uniformity in assessing whether IPV is a concern and oversight of mediators’ practices and training.

Social implications

The results indicate mediators often share a common discourse about IPV that asserts mediators are professionals with the skills to identify IPV and to appropriately conduct mediations where IPV is present. To reach settlement mediators use a set of fluid mediation and accommodation strategies to handle potential power imbalances due to IPV that allow them to represent themselves as impartial, even while those strategies may risk equity in the mediation.

Originality/value

The unique data provide a behind-the-scenes look at mediation generated from participant observation of mediation training and actual mediations, along with interviews with 30 practicing mediators.

Details

Journal of Aggression, Conflict and Peace Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-6599

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Content available
Book part
Publication date: 26 November 2020

Abstract

Details

International Perspectives on Gender and Higher Education
Type: Book
ISBN: 978-1-83909-886-4

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Article
Publication date: 27 November 2019

Candauda Arachchige Saliya

The purpose of this paper is to broaden understanding as to how certain social/personal dynamics influence credit decisions in Sri Lanka, elucidating them through a…

Abstract

Purpose

The purpose of this paper is to broaden understanding as to how certain social/personal dynamics influence credit decisions in Sri Lanka, elucidating them through a taxonomy and a conceptual typological matrix.

Design/methodology/approach

This research is an exploratory case study. The primary data collection methods are interviews and reconstruction of experiences. The data are complemented by documentary analysis and post-research events.

Findings

The research findings propose that credit officers and customers are influenced by six dynamics under three dimensions: the evaluation procedures (systematic/formal or heuristics); the relationship between customers and bank officers (personal or role relationship); and justification of credit (rational or irrational/situational). Based on the above results, a taxonomy of influential tactics and personality traits and a typological matrix are developed to classify credit decision-makers, who are labelled as BOSS, ROBOT, REBEL and BUDDY.

Research limitations/implications

These case studies are from a private bank in Sri Lanka, hence it could affect the generalization of findings. Therefore, researchers are encouraged to investigate the plausibility of the findings in diverse cultural backgrounds.

Practical implications

Credit decision-makers and credit applicants could make use of these typological matrix and the taxonomy to understand each other and employ more influential approaches and appropriate influential techniques to make effective credit decisions. It also provides more insight into understanding the nature of credit-decisions and decision-makers and, provokes further research.

Originality/value

To the author’s best knowledge, this is the first study in Sri Lanka that considers certain influencing factors of credit decision-making and proposes a conceptual typology to understand those factors.

Details

Review of Behavioral Finance, vol. 12 no. 4
Type: Research Article
ISSN: 1940-5979

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