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An abundance of academic studies have been devoted to the investigation of corporate social responsibilities, and although the business world seems to have accepted the general idea that it should be socially responsible, it has never been asked what executives perceive their social responsibilities to be. Additionally, extensive research in an attempt to identify the relationship between corporate social and financial performance by investigating companies' annual and financial reports has shown largely inconclusive results. This paper therefore aims to investigate the insights of corporate executives on both the issues of the social responsibilities of business and the link between corporate social responsibility (CSR) and financial performance. With respect to corporate executives, the authors investigated if there are differences between the perceptions of executives of FTSE 100 and FTSE All‐Share.

The data was collected via online survey and semi‐structured interviews with the executives of FTSE All‐Share companies. Out of 531 executives, the authors received 82 responses of a response rate of 17 per cent. They contacted 178 executives representing FTSE 100 companies and received 29 responses of a response rate of 17.6 per cent. In order to build a phenomenological approach to this study, the authors interviewed four executives to document their opinions and thoughts.

The results indicate that the business world holds a narrow view of its social responsibilities whilst maintaining that it is possible to be both profitable and respectful to its stakeholders. The analysis also reveals that socially responsible businesses employ CSR in pursuit of their commercial interests and consider it to be their competitive advantage. Moreover, the business seems to have integrated CSR into all its operations and activities and considers it as a necessity rather than luxury, which suggests that CSR and financial performance are in synergy.

One major contribution of this study is the difference analysed between perceptions of executives of FTSE 100 and other FTSE All‐Share companies on whether CSR policies and activities are implemented only when extra financial resources are available. This might suggest that FTSE 100 companies are more likely to have already integrated CSR into their business strategy and therefore devote financial resources to their CSR programs. Other FTSE All‐Share companies, in contrast, might still be regarding CSR as an add‐on and therefore spend monies on CSR only when they have extra financial resources available. The similar explanation can be offered for the difference between perceptions of executives of FTSE 100 and other FTSE All‐Share companies as to whether implementation of CSR policies and activities will increase overheads, increase share prices in the following years and help raise new capital.

The purpose of this study is to underscore the impact of the family variable on performance. The authors were interested in understanding whether the differences between Family Firms (FFs) and Non-Family Firms (NFFs), on the one hand, and between large FFs and medium-sized FFs, on the other, were reflected in the performance achieved.

In this paper a sample of 80 industrial companies listed on the Italian Stock Market (FTSE MIB and STAR indexes) were considered, and mixed criteria to distinguish FFs and NFFs (Smyrnios-Romano et al., 1998) were used. The empirical method allowed the development of some research hypotheses by exploiting the Pearson correlation.

There are two main categories of FFs, which correspond to two different strategic and organizational categories, namely, the FFs listed on the large capitalized companies index (FTSE MIB) and the FFs listed on the medium-capitalized companies index (STAR). Each kind of FFs (large FFs and medium-sized FFs) has a specific effect on profitability and financial performance. Specifically, if a company is medium sized, family presence is a relevant variable in achieving better profitability and financial performance than NFFs of the same size; on the other hand, if the company expands to become a large one, the family presence is an irrelevant variable in terms of both profitability and financial leverage (debt ratio).

Limitations of the study concern the definition of the sample, as this paper focused on the industrial sector and the method adopted, as it could be integrated with some econometrical models. The implications of this paper are relevant for families and regulatory bodies because it helps them better understand the effects of governance and company size both on short- and long-term performance. Moreover, the findings of the study can influence the decision-making process of investors to identify the long-term outperformers listed on the Italian Stock Exchange.

This study contributes to the literature on FFs by defining two different categories of FFs, namely, large and medium-sized. It seems that larger companies record a weaker family influence on short-term profitability.

This study aims to explore the impact of international financial reporting standard no. 8 (IFRS 8) on segmental information reporting (SIR) after the post-implementation review (PIR) issued by international accounting standards board (IASB). This impact is examined in relation to quality and quantity as SIR dimensions represent, respectively, the level of reported items and segments. As a complement to this, the chief operating decision maker (CODM) identity is considered to understand the patterns of SIR dimensions.

The SIR of the UK financial times stock exchange 100 (FTSE-100) listed companies over the period 2013-2016 is the research’s scope. Several criteria were developed to ensure a representative research sample. A disclosure index approach was used facilitating the use of content analysis for data collection, which pertained to the dimensions of SIR published by the FTSE-100 following IFRS 8 PIR.

The IFRS 8 PIR has had several implications shaping the growing trend that is underpinned by the SIR dimensions published by FTSE-100 companies. First, the SIR quantity dimension positively corresponds over 2013-2016, but it still does not meet IASB’s demands. This, secondly, also applies to the quality dimension of SIR to uncover inconsistency with the existing knowledge being held regarding the introduction of IFRS 8. More specifically, the response of the FTSE-100 to mandatory and voluntary items seems to be in transition of substitution. Third, CODM’s identity was an insightful dimension in rationalising the understanding through the aforementioned dimensions. It is undertaken by boards of directors or executive committees and the case of the latter is associated with more disclose in relation to the CODM’s identity.

These findings reveal implications to: academics undertaking further research about IFRS 8 PIR to challenge or endorse this conclusion, using similar or alternative approaches; the stakeholders’ decision-making process; and policymakers to re-think the structure of mandatory and voluntary items.

This paper provides empirical evidence on the quality and quantity of SIR published by FTSE-100 companies following IFRS 8 PIR.

The stagnation in the position of female directorships in the UK’s FTSE 100 companies appears to be very slowly changing. After a review of previous research on women directors, this paper reports the statistics on women directors in the top 100 listed companies. The paper comments on the findings regarding companies with women directors, female directorships and the women holding those directorships. It reviews the backgrounds (demographic profiles including age, education, marital status and children; corporate experience, international experience, etc.) of the top women executive directors. The paper also examines the minority of top companies with women executive directors, to see how their particular characteristics and contingencies (e.g. sector, chairmen, CEO and board demographics) may have influenced the environment as incubators for these successful women. The paper considers the findings through several theoretical lenses for explanations of the results, and conclude by commenting on the progress being made in other European countries.

The paper provides an invited “Viewpoint” from Professor Susan Vinnicombe, along with contributions from Professor Sharon Mavin, on women leaders’ progress on UK company boards and suggests areas for future research.

Draws on data from the annual UK The Female FTSE Board Report (2021) and The Hidden Truth Report (2022), tracking gender diversity on UK company boards. Professor Vinnicombe outlines reflections on progress, and jointly the authors highlight suggested areas for future women-in-leadership research.

The authors argue against the continued use of the business case for gender diversity and suggest a research agenda for future women-in-leadership research concerning: gender-aware Chairs of Boards and Chief Executive Officers and men allies; access and appointment to senior board roles; and bias in senior appointments. We suggest a return to examining barriers to women’s progress in middle management, the role of middle managers/leaders and the uptake and impact of established flexible ways of work at executive levels. New research is possible into how women leaders in top positions have a positive influence on gender diversity yet are discriminated against by various publics. The authors recommend further intersectional research as a priority for women-in-leadership research to enable further theorizing and feminist progress.

Professor Sue Vinnicombe has dedicated her academic career to questioning barriers to women’s progress in management/leadership and actively influencing organisational practice. Sue was influential in the field before her first co-authored papers were published in Women in Management Review (our predecessor) in 2001 and 2002. Professor Sharon Mavin is a previous co-editor of Gender in Management: an international journal. Her first papers were published in Women in Management Review in 1999 and 2001. Sharon is co-editor of the Special Issue, women-in-leadership research and feminist futures: new agendas for feminist research and impact on gender equality.

The purpose of this paper is to assess the extent to which pension accounting represents an enabling or emancipatory accounting.

Many countries are facing a so‐called “pensions crisis” which is reflected in and arguably, to some extent at least, is precipitated by accounting. Occupational pensions in the UK are focused upon and their role in the pension crisis discussed. The enabling or emancipatory potential of the internet for accounting for occupational pension schemes is explored. The contents of the web sites of the 100 largest companies listed on the London Stock Exchange (FTSE 100) are examined in terms of the elements of an enabling accounting, as set out by Gallhofer and Haslam in 1997. Alternative forms of accounting for pensions, including accounts by trade unions and others, are also examined.

The full possibilities of the internet have not yet been mobilised in respect of accounting for occupational pension schemes and companies' actions appear to be driven by the hegemony of the market rather than a concern for the social wellbeing of pensioners. A number of inequalities are evident.

The majority of UK employees have no occupational pension. The paper therefore only addresses one aspect of the pension crisis.

Suggests how corporate web sites could be improved through the provision of dedicated pensions sections and increased pensions' disclosures. Argues that alternative accounts provided by trade unions, organisations associated with the elderly and others are required to provide counter accounts. Calls for more education about the importance of saving from an early age.

Applies elements of an enabling accounting to a specific accounting problem, accounting for pensions.

UK plcs use option schemes and increasingly long‐term incentive plans (LTIP’s) to reward their executive directors in order to improve corporate performance and align their interests more closely with those of the shareholders of the company. This paper presents a study of the option and LTIP arrangements used by a sample of 51 large UK companies over the period 1994‐2001. The general finding is that a substantial proportion of the schemes are “undemanding” rewarding average rather than exceptional performance.

The audit committee is one of the most prominent board sub‐committees, having a potentially important role to play in ensuring sound corporate governance. This paper aims to examine and discuss the behaviour of companies following revisions to the UK's Revised Code.

A variety of annual report data from a sample of 50 UK companies, stratified according to size, is collected and analysed.

General compliance with many provisions of the Revised Code was found. All but one company had an audit committee comprising solely non‐executive directors. However, in about a quarter of cases the chairman was a member, and in some cases directors were not “independent” according to the Code's definition. Nevertheless, many companies exceeded the minimum stipulated requirements, for example the number of non‐executive directors on the audit committee or the number of meetings held. Some companies, though, did not follow recommended practice, particularly regarding the disclosure of information, and some explanations for non‐compliance were weak.

Compliance with disclosure demands regarding audit committees could be improved, as could the quality of explanations when the recommendations of the Code are not followed. It would be sensible for regulators to monitor this, provide more detailed guidance and highlight examples of good practice. Given the resistance of many companies to corporate governance regulation and accusations of “box ticking”, future research should probe why many companies do more than is required or recommended. The research should be repeated when further revisions to the Code are made in respect of audit committees, and practice in countries other than the UK should be researched to provide comparative insights.

This paper provides useful information on the behaviour of companies following revisions to the UK's Revised Code.

The Article seeks to identify the configuration of executive directors conditional option and LTIP arrangements used to align the interest of the company’s directors and shareholders.

The article presents an empirical study of the option and LTIP arrangements (current and previous) of 51 major UK companies. The article focuses on the configuration of option schemes and LTIPs in respect of three critical elements: the performance target selected, the comparator used to benchmark performance and the quantitative performance target level requirement to be achieved to trigger rewards. The period 1989‐2002, covered by the research indicates a substantial degree of “experimentation” with many companies amending their original option schemes and LTIPs and a larger number of other companies introducing new arrangements. A substantial number of schemes can be characterised as being “undemanding” rewarding average rather than excellent performance.

It is It is proposed (in a follow up paper) to econometrically test for associations between particular configurations (identified in this article) and actual corporate financial performance, i.e. which configurations have the most robust impact on performance.

The author makes a number of recommendations aimed at making option schemes and LTIP, more “stretching”, rewarding only excellent rather than average performance.

This is the first paper to explicitly look at the components of option schemes and LTIPs in a detailed way, questioning the merits/demerits of the targets and comparators commonly used to evaluate performance.

Effectively functioning audit committees have proven to fulfil a vital role in strengthening the role of internal audit. This article presents the results of a literature review that pinpoints six responsibilities that audit committees should perform in relation to internal audit. These responsibilities were tested as part of an empirical study focusing on the 40 largest companies listed on the JSE to determine the extent to which large listed companies in South Africa fulfil and disclose these responsibilities. The study consisted of an analysis of annual reports and a questionnaire administered to the chairs of audit committees. The study returned significant findings, including sound empirical evidence that the audit committees of the largest listed companies in South Africa are executing their responsibilities for internal audit effectively, but are performing more functions and responsibilities than those actually disclosed and reported on. While this apparent deficiency in disclosure may not affect the effective functioning of audit committees, it may influence perceptions about this effectiveness.