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This study aims to examine how a firm’s strategic emphasis on value appropriation over value creation is associated with the readability of narrative disclosures in annual reports.

This study examines the effect of the strategic emphasis on annual report readability based on a total of 45,273 US firm-year (5,754 unique firms) observations for the period from 1994 to 2018. Strategic emphasis is measured as advertising expenses minus research and development expenses, scaled by sales and Bog index and various measures, such as the FOG, KINCAID and FLESCH index, are used to measure the annual report readability.

The authors find that the strategic emphasis on value appropriation over value creation is positively related to firms’ annual report readability. In addition, the positive effect of the strategic emphasis on value appropriation over value creation on annual report readability is more pronounced with high managerial ability.

With the continual effort of Securities and Exchange Commission regulation and IFRS updates to improve narrative disclosures, it is meaningful to provide evidence showing how managers shape narratives in annual reports by highlighting good news with easy-to-understand words, but also may establish a barrier to understanding by choosing to use long and complex words depending on their strategic emphasis.

The evidence suggests that a strategic emphasis between value appropriation and value creation and managerial ability is an important factor in shaping the readability of annual reports, which contributes to the management, accounting and finance literature that investigates the relationship between resource deployment (i.e. strategic emphasis) and textual properties of corporate financial disclosures (i.e. readability).

The authors examine how a firm's strategic emphasis (SE) on value appropriation (VA) over value creation (VC) is associated with accounting conservatism.

To examine the effect of SE on a firm's adoption of conservative accounting practice, the authors measure SE as advertising expenses minus research and development (R&D) expenses scaled by total assets. The authors rely on the asymmetric timeliness of earnings from Basu (1997) to measure conditional conservatism and investigate how the incremental sensitivity of earnings to negative stock returns varies with the SE.

SE on VA over VC is found to be positively related to accounting conservatism since they want to deter entrants (i.e. competition adjustment) and to accommodate the tighter monitoring over the financial reporting system from stakeholders (i.e. risk adjustment). This argument is also supported by the additional cross-sectional tests based on the different level of market competition and external monitoring environment. In addition, the positive association between SE on VA over VC and accounting conservatism is less pronounced when managerial overconfidence is high.

Implication is that two important decisions (i.e. SE and accounting conservatism) are related with each other since both are to create competitive advantage and to maintain financial stability for a firm, and the relation differs by managerial characteristics.

This study highlights the differential roles of SE in shaping the conservatism in financial reporting and the importance of overconfidence in driving conservative accounting.

The purpose of this paper is to answer why the predominant competitive reaction (CR) is non-reactive one in the previous literature by showing that some fluctuations of CR may average out to zero.

This research proposes a model for measuring CR volatility to examine whether a firm’s CR differs over time. A rolling-windows time series approach is applied to three different data sets.

The results show that firms indeed react to each other, but the types of reactions vary over time, thereby creating a misunderstood “no-reaction” in the literature.

This study may help understand the gap between academic findings (i.e. no-reaction) and managerial reality (i.e. marketing wars).

Although a firm’s CR should be understood as a series of managerial actions that may change over time, the extant literature has not considered this temporal variation of CR. This paper provides a systematic review of the empirically based literature and provides insights into the importance of strategic variation in competitive dynamics.

The purpose of this paper is to provide some insights on current industry internship practices and the perceptions of students during their internship experience. This paper also highlights some issues pertaining to internship from the students’ and the industry’s perspective

The paper utilises qualitative research methodology using in-depth interviews.

The sources of conflict arising between the two parties need to be addressed carefully so as to create a win–win situation. The paper offers some suggestions for higher education institutions as to how to establish better guidelines for student internships as well as for industry operators..

Internship, industrial training, practical training or work-integrated learning refers to the involvement of students, institutions and colleges of higher learning in the industry. Internship provides an opportunity for students to experience first-hand, a work-related learning process. Given this, the involvement of industry in accepting students onto well-designed internship programmes is very much needed, so as to ensure the completion of a balanced period of study for a career in hospitality and tourism.

Blagden Packaging unveiled at this year's Pakex Exhibition a new concept in “bag‐in‐the‐box” Intermediate Bulk Container. The multi‐national project between LB Systemer SA Copenhagen, Dow Corning and Blagden Packaging is the result of over two years research and development.

The author launched an online survey at a private English-speaking university in Kuwait to evaluate the status, value and importance of Japanese and Korean popular cultures in Kuwait. East-Asian culture is a subculture that is very widespread in the region because of Internet use and the influence of English-speaking education. The survey shows that this subculture can be understood as an alternative culture because it tends to contain a dissimulated critique of traditional Kuwaiti culture. Many students approach Japanese and Korean cultural products because they are in search of a coherent lifestyle founded on certain ethics. The Japanese–Kuwaiti cultural transfer implies a double resistance towards the local culture and towards American culture. The resulting marginalization is therefore two-fold. Resistance towards Western culture is here not based, as is often assumed in Arab contexts, on cultural closure and conservatism, but rather on the willingness to engage with an alien culture. This creates a paradoxical pattern of resistance to both the East and the West through adherence to another Eastern culture. The phenomenon can be understood in terms of globalisation as well as of anti-globalisation.