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The purpose of this paper is to explore the impact of recent developments in corporate reporting, specifically from the carbon disclosure project (CDP) environment, in the evolution of European post-crisis financial markets.

Theoretical and instrumental advancements from nonlinear dynamics have been applied to the analysis of market behaviour and the online presence or reputation of major European listed banks.

The application of a nonlinear statistical methodology (i.e. the autoregressive fractionally integrated moving average [ARFIMA] estimation model) demonstrates the presence of a long history of collected data, thus indicating a certain degree of predictability in the time series. Also, this study confirms the existence of structural breakpoints, specifically the impact of the CDP reporting in both stock prices and online search trends of the sampled companies for certain periods.

This study introduces new methodological perspectives in corporate reporting studies, as the application of nonlinear techniques can be more effective in capturing corporate transparency issues. A limitation to overcome is to explore whether the impact of reporting is different due to the specific reporting behaviour each company adopts.

The “breakpoint” concept should enlighten the importance to firms of providing more information in specific moments, which can impact on both traditional (i.e. stock prices) and modern (i.e. online popularity) performance metrics. Additionally, it should be taken into account by stakeholders, when analysing the accountability of firms to improve their decision-making processes and policymakers, for monitoring and contrasting speculative and insider trading activities.

Online search trends represent a new public attitude to how society “measures” the effectiveness of firms’ disclosure behaviours.

Combining ARFIMA with structural break techniques can be regarded as a relevant and complementary addition to classic “market reaction” or “value relevance” techniques.

The main purpose of this paper is to contribute to the ongoing literature on the pertinence of TALC (tourism area life cycle) to model and analyse mature destinations, using quantitative data and alternative functional forms. With this purpose, this work analyses the recent data on tourist demand in Tenerife (Canary Islands), which is supposed to be playing the role of “refuge” with respect to other competing resorts, when the latter ones present political instability after the so-called Arab Springs, particularly the Middle East and North Africa.

To analyse the data, and to explore potential epiphenomenon, nonlinear competing regression analysis were performed (logistic, Gaussian and logarithmic), taking into account some insights from tourism life cycle theories.

Some suggestions are presented for political management of these destinations that are still working under a moratorium on tourist infrastructure.

Once the TALC is accepted – even under discussion – in the scholarly fore, certain incentives arise to identify, interpret and communicate signals of maturity. Public funds and specific policies (moratoria) can then be solicited to political instances. Further empirical research, complementary quantitative approaches, along with new data that confronts the evolution of demand in Tenerife with paulatine reactivation of competing destinations, will be strongly required to overcome the limitations of this first attempt and to properly determine the effectiveness of rejuvenation policies. Besides, additional quantitative data should be considered to explore the potential explanatory factors beyond the time series analysis into models that are more theoretical.

The results suggest that the diagnosis of maturity was at least premature in the first place, poorly based on data analysis and fast in promoting specific policies whose effectiveness is under discussion even after decades.

This work aims to explore the behavior of stock market prices according to the autoregressive fractional differencing integrated moving average model. This behavior will be compared with a measure of online presence, search engine results as measured by Google Trends.

The study sample is comprised by the companies listed at the STOXX® Global 3000 Travel and Leisure. Google Finance and Yahoo Finance, along with Google Trends, were used, respectively, to obtain the data of stock prices and search results, for a period of five years (October 2012 to October 2017). To guarantee certain comparability between the two data sets, weekly observations were collected, with a total figure of 118 firms, two time series each (price and search results), around 61,000 observations.

Relationships between the two data sets are explored, with theoretical implications for the fields of economics, finance and management. Tourist corporations were analyzed owing to their growing economic impact. The estimations are initially consistent with long memory; so, they suggest that both stock market prices and online search trends deserve further exploration for modeling and forecasting. Significant differences owing to country and sector effects are also shown.

This research contributes in two different ways: it demonstrate the potential of a new tool for the analysis of relevant time series to monitor the behavior of firms and markets, and it suggests several theoretical pathways for further research in the specific topics of asymmetry of information and corporate transparency, proposing pertinent bridges between the two fields.

The objective of this study is to measure the navigation quality of the corporate webpages of the principal European financial entities, given the vital importance of the accessibility of online content for the successful execution of their operational activities.

The web quality model proposes a structure that allows the quality of corporate webpages to be analysed according to the three main quality criteria of content, presentation and ease of navigation (navigability). Bonsón et al. take this theoretical framework as their point of departure for analysing the webpages of the principal European financial entities, and they measure the quality of their content in the context of the extra significance these webpages will acquire when the new Basel II international regulations enter into force in the imminent future. In this study, a joint analysis is made of the results of both studies in order to classify European financial entities according to the strategy adopted for their web sites.

The size of the entity behind the corporate webpage is revealed as the key variable that explains better navigability. There is also a positive relationship between the navigability and the content presented, which shows that companies' strategies for improving the quality of their web site tend to be harmonised in respect of these two criteria.

The approach of most of the entities to their web presence can be characterised as informational in the sense that they are making substantial efforts to improve the content, driven by impending new regulation. However, they are still not utilising various devices available to make their web sites easier to navigate. Better navigability would improve user access to the enhanced information provided.

The resources have been determined that are needed to improve navigability so that these entities can advance their web site strategies and provide a harmonious combination of adequate content and fast, easy access to that content.

The objective of the present work is to analyse the web pages of the principal European financial entities, with the aim of assessing the degree to which they are already disseminating information by internet in preparation for implementing the new requirements for transparency introduced by the New Capital Agreement of the Bank of International Settlements of Basel (Basel II).

The study takes as its reference the literature existing on the examination of the quality of web pages, in particular the provisions of the Web Quality Model (WQM), and the importance of the content as a key variable in the quality of web pages. The normative requirements are converted into a disclosure index that is used to score the corporate web sites of all the banks quoted on the EuroStoxx Index. A linear regression analysis is performed in search for a relationship between size and degree of web transparency in the financial entities analysed.

The analysis of these entities shows that, to a certain degree, they have anticipated Basel II, and their web pages present a significant proportion of the information that will shortly be required. They seem to recognise the advantages of anticipating these new rules, in particular, and of greater transparency in general.

The banking sector is responding efficiently to the requirements of the digital society, by greater transparency on the web and, in consequence, its image and the confidence of depositors are improving.

Transparency in the banking sector is a topic of great interest in the current turbulent business environment. In these studies a systematised analysis is offered, to give a preview of the situation of generalised transparency that is coming closer through the requirements of Basel II.

The purpose of this paper is to explore the applicability of an information submission model based on OWL (Web Ontology Language) that permits the subsequent implementation of knowledge‐sharing systems, such as the Set of Experience Knowledge Structure, among the various EU banking supervisors.

Recent theoretical advances in the use of semantic web languages are introduced and put theoretically into force in the context. Additionally, a first‐hand questionnaire is directed to the supervisors, measuring the value compatibility of the semantic technology with the needs of the existing European banking environment.

The results illustrate that there exists a good level of value compatibility between the normative challenge and the new technology. Although there are some differences, these would perhaps not make the implementation of this technological framework particularly difficult, in that they focus on the same points that the regulators must consider to achieve success in the new European environment, for example, the balance between normative and practical approaches.

This is the fist time that an ontology‐based system has been proposed for banking supervision in Europe.

The purpose of this paper is to present a formalisation of the “online transparency” concept in particular firms’ disclosures, employing basic microeconomics. Relevant literature from the accounting, economics and finance fields, along with specific documents regarding micro-simulation as a technique to capture diversity in data sets, is surveyed.

A class of Stone-Geary utility functions is proposed as an analytical tool. A first simulation of public policies is introduced, exploring its impact on corporate firms and their preferences for online disclosure, specifically in Europe. Moreover, the author study corporate firm digital disclosure and compulsory disclosure policy specifically in Europe, exploring whether the size of the firm, country and sector of operation are relevant to explaining the differences in firms’ behaviour and whether these explanatory factors remain after the application of several types of policies.

Quantitative policies, using this denomination to refer to those that directly affect the amounts of money dedicated to online disclosure, or its unitary costs, seem to have a less substantial effect than those that the author could call qualitative policies (stating minimum requirements for all companies or promoting broader scrutiny by means of internationalisation).

These last policies could also be less expensive for public agencies, as the quantitative ones should be supported by some kind of subsidy or tax benefit system. The paper contains certain mathematical assumptions that will need to be relaxed in further works.

Finally, a full research agenda arises from this first attempt, from which both conceptual and methodological lessons can be learned.

The purpose of this paper is to analyse the capacity of response of the banking sector's information systems (IS), in the light of the new requirements of Basel II (Basel Bank for International Settlements) on the measurement and control of operational risk (OR).

By means of a structured case, developed with a Spanish savings bank of medium size, an analysis is made of the practices and structures that may need to be modified to prevent a loss of competitive position. Lastly specific improvements are proposed to facilitate the implementation of an operational risk information system (OR‐IS).

The paper concludes that there still exists a considerable distance between the current IS in use and an OR‐IS compatible with the model proposed under Basel II, for that kind of entities, and indicates the opportunities and incentives that would arise in the attempt to reduce this distance.

The IS of a bank should evolve towards the achievement of an OR‐IS that enables the bank's competitive position to be strengthened. In addition, the bank should aspire to obtain the external validation of its supervisory authority, which certifies the OR‐IS implemented and classifies it as an advanced measurement approach (AMA) under Basel II. An analysis is made of the principal organisational weaknesses and necessities that should be rectified, with a view to applying the methodologies designated the AMA to OR in the Basel II agreement.

Basel II has given increased visibility to the “OR” variable and there has been little explicit research into the process by which managers and organisations at medium sized entities decide to develop IS capable to measure and mitigate this new risk.

The purpose of this paper is to examine the extent to which New Zealand business web sites conform to the provisions of the New Zealand Privacy Act, 1993 as an articulation of the national values on the rights of individuals to information privacy. The secondary aim is to assess whether adherence to these values might be used as criteria that can reflect on the business integrity of the web site sponsor.

The privacy notices and information‐handling practices of New Zealand business web sites were analysed using a content analysis methodology. The analysis was carried out on a sample of 200 companies, selected at random from a published list of the top 800 companies in New Zealand in 2005. Government web sites were excluded.

The first research hypothesis – that New Zealand business web sites demonstrate awareness of the privacy concerns of customers by posting a privacy notice – was not supported. Similarly, the privacy notices on New Zealand business web sites did not reflect the principles of the New Zealand Privacy Act, 1993 as a basis for establishing “value congruence” with customers. Consequently the use of the principles of the Privacy Act to assess business integrity was not demonstrated sufficiently by the investigation.

The lack of a usable convention for evaluating privacy notices on New Zealand business web sites may lead to a loss of value congruence between businesses and their customers, leading to less‐than‐optimal commercial transactions. The principles of the New Zealand Privacy Act 1993 define the national values and privacy rights of online customers. The use of the Privacy Act to assess the information handling practices of New Zealand businesses online could ensure more ethical business practice, demonstrate business integrity and promote customer confidence.

The use of legislated privacy principles as a reflection of established national values on the rights of citizens could provide a useful measure of value congruence and possibly business integrity. The variety of privacy legislation worldwide reflects a global lack of agreement on acceptable principles. Nevertheless, businesses wishing to establish their integrity and value congruence would be advised to ensure that their web sites provide for the growing sensitivity to privacy issues and the way that personal information is gathered and used online.

This paper aims to examine how gender diversity and women’s empowerment influence the performance of family entrepreneurships and explores the role of firm characteristics as a moderating factor.

The study used a structured questionnaire as the survey tool to collect data from 91 women managers working in family entrepreneurships, which originated from entrepreneurial initiatives, located in various Lebanese regions. The validity of the construct was assumed using the fitness of extracted index, incremental fit-index, non-normal fit-index, root mean square of residuals and standard root mean square residual. Composite reliability, Cronbach's alpha and value confirmatory factor analysis were used to measure the internal consistency. Data were analyzed using the structural equation modeling method.

This study reveals that gender equality, education level and family support significantly affect women's empowerment while an insignificant association was found between empowerment and earning social status and achieving financial independence. This paper also showed a significant interaction between women’s empowerment and the performance of family entrepreneurships. Additionally, the results showed that women holding managerial positions in family entrepreneurships is positively associated with firm performance. Finally, it was concluded that the location of the family firm moderates the relationship between gender diversity and firm performance.

This research contributes to theory and practice regarding the role of women in family entrepreneurships and sheds light on gender differences influencing family entrepreneurships and women empowerment issues.