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1 – 10 of over 18000Wan Adibah Wan Ismail, Khairul Anuar Kamarudin and Muhd Kamil Ibrahim
This paper examines issues related to the reporting of extraordinary items in the financial statements of Malaysian companies. The first issue concerns the change of accounting…
Abstract
This paper examines issues related to the reporting of extraordinary items in the financial statements of Malaysian companies. The first issue concerns the change of accounting standards on extraordinary items, which has limited the scope of extraordinary items. It is found that there are significant changes on the incidence of reported extraordinary items during the period after the adoption of the new standard. The findings supported the argument that the new standards on extraordinary items had consequently reduce significantly these items from financial statements. This paper hypothesizes that extraordinary items classification choice is a means used by companies to smooth income. Two types of statistical tests performed have confirmed the proposition that the disclosure of extraordinary items is subject to this type of manipulation during the period before the adoption of the new standard. Although it is proved that the broad definition of extraordinary items allows companies to manipulate income, evidence gathered from multivariate regressions demonstrates that extraordinary items are of value‐relevance for investors in valuing a firm’s equity. Thus, investors take into account the extraordinary items even though it is disclosed “below the line”.
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Gianluca Pusceddu, Ludovica Moi and Francesca Cabiddu
This paper aims to empirically investigate the typologies of phygital (synaeresis of “physical” and “digital”) customer experiences (CXs) that can arise in high-tech retail based…
Abstract
Purpose
This paper aims to empirically investigate the typologies of phygital (synaeresis of “physical” and “digital”) customer experiences (CXs) that can arise in high-tech retail based on the intensity of consumers' responses and reactions to the stimuli triggered by firms. Moreover, it explores how firms attempt to shape the architecture of the phygital CXs. Notably, this article identifies the flexible and agile strategies implemented by firms to enhance the several typologies of phygital CXs, with the intention of better exploiting physical and digital features to respond to the differences in customers' needs, preferences and expectations.
Design/methodology/approach
This study performs an in-depth exploratory single-case study based on semi-structured interviews with the customers, managers and employees of the Webidoo Store.
Findings
This study develops a framework illustrating the main typologies of ordinary (“hostile”, “controversial” and “disappointing”) and extraordinary (“passionate” and “explorative”) CXs that can arise in phygital contexts. Also, it identifies some key flexible and agile strategies (“decompressive strategy”, “mentoring strategy”, “prompting strategy” and “entertaining strategy”) that companies might follow to adjust their offerings and respond quickly to the different forms of phygital CXs to create a more compelling experience tailored to customers' needs, preferences and expectations.
Research limitations/implications
Among the study's limitations are the single-case study methodology and a specific setting like the Italian one. As a result, future studies could broaden the study to include other research contexts and countries. The paper offers significant managerial insights based on the many forms of CX across ordinary and extraordinary CXs. Thus, it provides critical takeaways for businesses to meet customer demand.
Originality/value
This paper analyzes the different typologies of ordinary and extraordinary CXs that could occur in phygital contexts based on the intensity of consumers' responses and reactions to firms' stimuli. Also, it explores how firms attempt to shape the architecture of the phygital CXs through flexible and agile strategies. From this paper, managers and decision-makers can reflect on successful strategies they could use to affect the stimuli to which customers respond in an agile manner, thus enhancing phygital CXs.
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Pamela Kent, Reza Monem and Glenn Cuffe
The purpose of this paper is to examine whether Australian agricultural firms display big bath behaviour during droughts by recognising extraordinary and abnormal losses. It is…
Abstract
Purpose
The purpose of this paper is to examine whether Australian agricultural firms display big bath behaviour during droughts by recognising extraordinary and abnormal losses. It is hypothesised that Australian agricultural firms are more likely to report big bath losses in drought years than in non‐drought years and, in a given drought year, agricultural firms are more likely to report big bath losses than firms in other industries.
Design/methodology/approach
The authors analyse 405 firm‐years data for agricultural firms over 1980‐1995. For comparison, they also analyse matched‐pair samples of 17 and 30 non‐agricultural firms for the drought years of 1983 and 1995, and matched‐pair samples of 19 non‐agricultural firms for the non‐drought years of 1986 and 1990, respectively. Both univariate and multivariate analyses are used to test the hypotheses.
Findings
It is found that agricultural firms are more likely to take big baths in drought years than in non‐drought years. Further, in a given drought year, agricultural firms are more likely to take big baths than non‐agricultural firms. Further analyses of sales, profitability, and extraordinary and abnormal items support the idea that big baths reflect managerial opportunism rather than the economic consequences of droughts.
Originality/value
Previous studies have not investigated the impact of natural calamities like flood and drought on accounting choices. This paper makes an original contribution to the accounting literature by documenting evidence on the extent to which an act of nature, over which management has little or no control, can influence accounting choices.
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Natalya Saldanha, Rajendra Mulye and Arnold Japutra
Consumers are increasingly spending more time on social media platforms to cope with anxiety and loneliness resulting from the recent pandemic. The extraordinary times…
Abstract
Purpose
Consumers are increasingly spending more time on social media platforms to cope with anxiety and loneliness resulting from the recent pandemic. The extraordinary times, characterised by isolation and lockdown, has placed increasing dependence on online technology as a coping mechanism in which social media influencers (SMIs) served as the human face of brands, helping both consumers and brands maintain human connection. How should practitioners navigate their social media campaigns in this changing environment?
Design/methodology/approach
To answer this question, the Source Connectedness Pyramid is proposed to help explain and compare the interactions between consumers and SMIs in ordinary and extraordinary times.
Findings
In their interactions with influencers during ordinary times, consumers are satiated with influencer source characteristics of attractiveness, trustworthiness and expertise. However, during extraordinary times, consumers substitute their usual preference to focus on connectedness, characterised by relatedness, belongingness and attachment.
Originality/value
The empirical study within this paper lends support to this proposition and offers additional insights. The proposed Source Connectedness Pyramid contributes to influencer communication theoretically and has strategic implications for practitioners when navigating their social media campaigns in these extraordinary times.
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– The purpose of this research is to explore the nature of change and the practices of foresight required to anticipate and to plan for change.
Abstract
Purpose
The purpose of this research is to explore the nature of change and the practices of foresight required to anticipate and to plan for change.
Design/methodology/approach
Part I provides a sketch of investigations of change and related areas of uncertainty and discontinuity. Part II provides a conceptual framework outlining four types of change: incremental, contextual, structural and foundational. Part III outlines the methodological distinctions required to explore the four types of change characterized here as normal and extraordinary foresight. Part IV combines these examinations to develop a structured approach to scenario analysis. Finally, Part V examines the implications of this work.
Findings
A structured approach to scenario planning explores four variations of evolutionary and revolutionary changes. It applies both normal and extraordinary foresight to explore the epistemological and ontological boundaries of change and to analyze the impact of shifts in ontological boundaries. While a structured approach applies established tools and techniques, it also directs our attention to areas where we can do more. It is an integral part of strategic foresight in a changing world.
Research limitations/implications
This is a conceptual article based on over 25 years of practice in corporate strategy, including 10 years of work in scenario planning. It is also drawn from doctoral research on the epistemological and ontological boundaries of paradigms (Wayland, 2003), as outlined in Thomas S. Kuhn’s The Structure of Scientific Revolutions (Kuhn and Hacking, 2012).
Originality/value
Recent work examining the epistemological and ontological boundaries of change are linked with a practical framework and methodological distinction. These contributions are combined with a structured approach to scenario planning to improve the ability to anticipate and to plan for change.
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Makarand Amrish Mody, Courtney Suess and Xinran Lehto
Accommodations providers in the sharing economy are increasingly competing with the hotel industry vis-à-vis the guest experience. Additionally, experience-related research…
Abstract
Purpose
Accommodations providers in the sharing economy are increasingly competing with the hotel industry vis-à-vis the guest experience. Additionally, experience-related research remains underrepresented in the hospitality and tourism literature. This paper aims to develop and test a model of experiential consumption to provide a better understanding of an emerging phenomenon in the hospitality industry. In so doing, the authors also expand Pine and Gilmore’s original experience economy construct.
Design/methodology/approach
Using data from a survey of 630 customers who stayed at a hotel or an Airbnb in the previous three months, the authors performed a multi-step analysis procedure centered on structural equation modeling to validate the model.
Findings
The authors demonstrate that the dimensions of serendipity, localness, communitas and personalization represent valuable additions to Pine and Gilmore’s original experience economy construct. Airbnb appears to outperform the hotel industry in the provision of all experience dimensions. The authors further define the pathways that underlie the creation of extraordinary, memorable experiences, which subsequently elicit favorable behavioral intentions.
Practical implications
The findings suggest the need for the hotel industry to adopt a content marketing paradigm that leverages various dimensions of the experience economy to provide customers with valuable and relevant experiences. The industry must also pay greater attention to its use of branding, signage and promotional messaging to encourage customers to interpret their experiences through the lens of these dimensions.
Originality/value
The study expands a seminal construct from the field of services marketing in the context of the accommodations industry. The Accommodations Experiencescape is offered as a tool for strategic experience design. The study also offers a model of experiential consumption that explains customers’ experiences with accommodations providers.
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Gia Nardini and Richard J. Lutz
The purpose of this paper is to investigate the relationship between mental simulation and affective misforecasting of hedonic consumption experiences.
Abstract
Purpose
The purpose of this paper is to investigate the relationship between mental simulation and affective misforecasting of hedonic consumption experiences.
Design/methodology/approach
The authors present a series of lab and field studies that manipulate mental simulation and experience type (ordinary versus extraordinary) and measure affective misforecasting and mindfulness. Data were analyzed using a combination of ANOVA and PROCESS.
Findings
Mental simulation before an experience causes negative affective misforecasting to occur for extraordinary experiences but not ordinary experiences. The authors further show that mindfulness mediates the effect of mental simulation on affective misforecasting.
Practical implications
The findings provide insight into how thinking about experiences before consumption affects consumers’ actual engagement with the experience. This paper suggests that, by encouraging consumers to mentally simulate their experiences before consumption, marketers may cause consumers to miss out on enjoying their experiences to the fullest. Instead, marketers may want to maintain some mystique by encouraging consumers to “come see for themselves”.
Originality/value
The authors demonstrate a novel cause of affective misforecasting: mental simulation before the experience and provide initial evidence in support of a novel psychological process explanation (i.e. mindfulness) for the effect of mental simulation on affective misforecasting.
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Henry Ohlsson and Donald Storrie
The purpose of this paper is to study the long‐term effects of policy measures for displaced workers. The focus is on the individuals affected by the closure of the Uddevalla…
Abstract
Purpose
The purpose of this paper is to study the long‐term effects of policy measures for displaced workers. The focus is on the individuals affected by the closure of the Uddevalla Shipyard in western Sweden in 1985 and the cutbacks at the LKAB mines in northern Sweden in 1983.
Design/methodology/approach
These workers not only experienced job loss, but were also target groups for extraordinary labour market policies. Using register data from Statistics Sweden (labour market status, earnings, education etc.), the authors follow those affected until 1999, comparing their experiences with the development of a large sample of other workers who lost their jobs because of plant closures in 1987‐1988 but who did not receive extraordinary measures.
Findings
Estimations of the net effect of the extraordinary measures find that they did have positive long‐term effects for the displaced shipyard workers and miners. They have higher employment, not higher unemployment, and higher earnings than the comparison group.
Originality/value
The authors are not aware of any previous research on the effects of labour market policy addressing displacement in the long term.
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The purpose of this paper is to explore the relationships among knowledge, wisdom, consciousness and extraordinary consciousness.
Abstract
Purpose
The purpose of this paper is to explore the relationships among knowledge, wisdom, consciousness and extraordinary consciousness.
Design/methodology/approach
After introducing knowledge, this paper provides: a short review of the literature on the concept of wisdom; an introduction to the concepts of ordinary and extraordinary consciousness; and a brief exploration of the relationships among these concepts.
Findings
Tacit knowledge is in relationship to wisdom. Since extraordinary consciousness by definition is heightened sensitivity to, awareness of, and connection with our unconscious mind, extraordinary consciousness is in support of wisdom.
Originality/value
Introduces concept of extraordinary consciousness.
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