Search results
1 – 10 of over 1000Zhikun Ding, Wanqi Nie, Vivian W.Y. Tam and Chethana Illankoon
The preferences and adoption of recycled materials by consumers are subject to a variety of factors, such as enablers and barriers. Despite this, there exists a paucity of…
Abstract
Purpose
The preferences and adoption of recycled materials by consumers are subject to a variety of factors, such as enablers and barriers. Despite this, there exists a paucity of research concerning stakeholders' perceived value and real purchase decision towards recycled products. Consequently, this research study aims to fill this gap by investigating stakeholders' perceived value of recycled products derived from construction and demolition (C&D) waste and its effect on purchase decisions.
Design/methodology/approach
Research data were collected from 219 valid questionnaires completed by Chinese stakeholders. Structural equation modeling (SEM) was then employed to test eight hypotheses.
Findings
The results show intrinsic cue (materials) and extrinsic cue (brand) influence the stakeholders’ judgment on C&D waste recycled products’ value and then their purchase intention. However, cues such as quality, word-of-mouth, price, policy and advertised have not play a significant role in practice.
Originality/value
This research study verified the significance of brand and material cues on decision making for purchasing C&D waste recycled products, providing new insights to policy making to enhance the uptake of C&D waste recycled products in construction industry.
Details
Keywords
Swechha Chada and Gopal Varadharajan
This paper aims to examine the relationship between earnings quality and corporate cash holdings in an emerging economy. Existing literature posits that earnings quality is a…
Abstract
Purpose
This paper aims to examine the relationship between earnings quality and corporate cash holdings in an emerging economy. Existing literature posits that earnings quality is a result of information asymmetry and firms with lower earnings quality increases cash holdings, to shield the firm from future uncertainties. In this paper, the authors propose a ‘private benefits hypothesis’, which suggests that lower earnings quality is an indicator of opportunism and expropriation of resources in the firm, through tunneling or excessive executive compensations. As a result, firms with lower earnings quality increase cash holdings in their control, to increase their private benefits and to avoid the scrutiny of the external stakeholders. The authors further examine the monitoring role played by institutional investors on cash holdings, with varying degrees of earnings quality.
Design/methodology/approach
This study uses an unbalanced panel data sourced from Prowessdx, from 2000 to 2019. The analysis employs 20,231 firm-year observations from 2,421 firms. Earnings quality is calculated following Dechow and Dichev (2002).
Findings
Empirical analysis confirms that the firms with higher earnings quality reduce cash. Further, institutional investors reduce the cash holdings in firms with higher earnings quality. Institutional investors effectively reduce the cash only in firms with at least 10% of equity shareholding. The results are robust to alternative measures of earnings quality and endogeneity concerns.
Originality/value
This study diverges from the information asymmetry hypothesis in the existing literature on earnings quality and cash holdings and highlights the underlying private benefits hypothesis, that will impact cash holdings. Next, the 10% institutional shareholding is important in the Indian context as it represents the minimum threshold at which block holders can request extraordinary general meetings (Section 100 of the Companies Act 2013) or the involvement of the National Company Law Tribunal (NCLT) (Section 213 of the Companies Act 2013). This study highlights that unlike in Anglo-Saxon economies, institutional investors or other minority shareholders are empowered by the Companies Act 2013 to play a vital role in corporate governance with a mere 10% equity.
Details
Keywords
Brian M. Lam, Phyllis Lai Lan Mo and Md Jahidur Rahman
This study aims to investigate whether auditors compromise their independence for economically important clients in countries with a secrecy culture.
Abstract
Purpose
This study aims to investigate whether auditors compromise their independence for economically important clients in countries with a secrecy culture.
Design/methodology/approach
The authors empirically examine the research question based on a data set of 33 countries for the period from 1995 to 2018. The dependent variable is the auditors’ propensity to issue modified audit opinions, which is a proxy for auditor independence. The authors use relative client size as a proxy for client importance. The authors adopt the Heckman (1979) two-stage model to mitigate the potential endogeneity issue involved in the selection of Big-N auditors.
Findings
Using a large sample of firms and controlling for the firm- and country/region-level factors, this study reveals that both Big-N and non-Big-N auditors are more likely to issue modified audit opinions to clients located in countries with a strong secrecy culture relative to those located in other countries. However, Big-N auditors are more likely to issue modified audit opinions for their economically important clients with a secrecy culture relative to their other clients, while no or weaker evidence is found for non-Big-N auditors. The results are consistent and robust to endogeneity tests and sensitivity analyses.
Originality/value
This study enriches the literature by providing a new perspective on auditor independence that an auditor’s reporting behavior can vary depending on the client’s importance and auditor type, even under the same secrecy culture.
Details
Keywords
Md Jahidur Rahman, Hongtao Zhu and Xinyi Jiang
This study aims to investigate whether auditors compromise their independence for economically important clients in family business settings.
Abstract
Purpose
This study aims to investigate whether auditors compromise their independence for economically important clients in family business settings.
Design/methodology/approach
The authors empirically examine the research question based on China for the years 2011 to 2020. The dependent variable is the auditors’ propensity to issue modified audit opinions, which is a proxy for auditor independence. The authors use relative client audit fees as a proxy for client importance. To address endogeneity issues in the selection of family firms, the authors use the two-stage least squares regression model and, subsequently, the propensity score matching and Hausman firm fixed effect modeling.
Findings
This study reveals that the propensity to issue modified audit opinions is positively correlated with client importance. Big-N auditors are more likely to issue modified audit opinions for their economically important family firm clients, whereas such evidence is not found for non-Big-N auditors. Results are consistent and robust to endogeneity test and sensitivity analysis.
Originality/value
This study enriches the literature on auditor independence and the effect of family firms’ ownership structure factors on audit reporting behavior for their economically important clients. Findings may prove useful for managers and practitioners interested in family business.
Details
Keywords
Katherine A. Graves, Lindsey Mirielli and Chad A. Rose
This chapter explores the complex intersection between students with disabilities and bullying prevention within educational settings. While bullying impacts all students, those…
Abstract
This chapter explores the complex intersection between students with disabilities and bullying prevention within educational settings. While bullying impacts all students, those with disabilities face unique challenges that make them more vulnerable to such experiences (Rose & Gage, 2016; Rose et al., 2011). By examining the underlying factors contributing to the heightened risk of bullying among students with disabilities, this chapter aims to provide a more comprehensive understanding of the issue. It delves into the specific ways in which students with disabilities are targeted and engage in bullying behaviors, such as through verbal, relational, or physical, and highlights the negative consequences on their overall well-being and academic performance. Moreover, this chapter examines existing interventions and strategies employed to prevent bullying among students with disabilities. It critically evaluates the effectiveness of individual, classroom, and school-wide interventions, highlighting the need for a comprehensive approach that addresses the unique needs and challenges faced by this subset of students. The importance of collaboration between educators, parents, and other stakeholders in implementing evidence-based practices is also emphasized. By promoting awareness, fostering inclusive school environments, and implementing targeted interventions, we can strive toward creating a safe and supportive atmosphere that enables students with disabilities to thrive academically and socially, free from bullying involvement.
Details
Keywords
Chih-Chen Hsu, Kai-Chieh Chia and Yu-Chieh Chang
This study investigates the efficiency of value relevance and faithful representation when stock market price derivates from its firm value to the investigated IT companies listed…
Abstract
This study investigates the efficiency of value relevance and faithful representation when stock market price derivates from its firm value to the investigated IT companies listed in FTSE Taiwan 50. The empirical investigation reveals one financial indicators: Return on equity (ROE) has explanatory ability among seven financial indicators, earnings per share (EPS), book value (BV), dividend yield (Div.), price–earnings ratio (P/E), ROE, return on assets (ROA), and return on operating asset (ROOA) to both sampled companies, United Microelectronics Corporation, UMC, (2303) and Taiwan Semiconductor Manufacturing Company Limited, TSMC, (2330). Furthermore, the empirical results indicate that the higher order moments, skewness and kurtosis, of price deviation do not provide a reliable prediction or explanatory power for stock price trends.
Details