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This study aims to examine whether the newly available auditor tenure information is associated with non-GAAP earnings, as the recent requirement to disclose the initial year of auditor-client relationship in audit reports may give the impression that longer auditor tenure may be related to lower audit quality.

Using a sample of firm-quarters from 2017 to 2020, the authors conduct both univariate and regression analyses. We use hand-collected data for auditor tenure, SEC comment letters, and non-GAAP variables.

First, the authors find that the likelihood of disclosing non-GAAP earnings monotonically increases with auditor tenure on a univariate basis. Second, auditor tenure is negatively associated with aggressive non-GAAP reporting. Third, the authors document evidence of aggressive reporting in general; that is, items excluded in calculating non-GAAP earnings are associated with future performance. However, the association declines with longer auditor tenure. Finally, the authors report evidence that the likelihood of receiving an SEC comment letter that contains non-GAAP comments decreases with longer auditor tenure.

The results show that regulators need to consider both GAAP and non-GAAP disclosures’ costs and benefits when enacting auditor tenure regulation. Investors can benefit from the findings in evaluating the quality of non-GAAP earnings. The findings are also relevant to the SEC when allocating limited resources in monitoring non-GAAP reporting.

To the best of the authors’ knowledge, this is the first study showing that auditor tenure is associated with the quality of non-GAAP earnings. Given that financial reporting quality should be understood as a comprehensive system comprising both mandatory and voluntary disclosures, this study complements the literature that examines the effect of auditor tenure on financial reporting quality using GAAP reporting.

The article explores the linkages between the type of environmental strategy (ES), the use of internal communication (IC), and the greening of organizational culture (OC). Moreover, the article empirically examines whether company size matters in the use of environmental IC practices in the green context. Additionally, the article considers differences between people employed at different organizational hierarchy levels. The basis for such a comparison is their opinions about the effectiveness of communication practices.

Empirical research employed a survey method done on 199 organizations in 2020. Statistical analyses used the chi-squared test, Kendall’s Tau-b correlation coefficient, and the Mann–Whitney U test.

The research showed that companies with a proactive green strategy more often use different communication practices related to ES and have a greener culture. The study proved that larger companies more often use the analyzed communication practices. However, we found no significant difference in opinion between middle managers and line employees about the effectiveness of these practices.

The main contribution to business practice is the exploratory model based on the empirical study, which allows organizations to successfully implement the ES.

Studies rarely combine the three organizational elements: IC, OC, and ES. This article provides new empirical evidence on relationships between features of OC, green strategy types, and communication practices.

This paper aims to integrate the consumption perspective within the Industrial Marketing and Purchasing (IMP) debate. The study delves into how consumer communities can be conceived like other network business actors. The perspective of sustainable new ventures (SNVs) in the fashion industry is adopted, considering their specific connection with consumer communities.

Adopting a multiple case study methodology, this paper uses a qualitative approach. Data collection mainly relies on interviews conducted with 10 SNVs in the fashion industry; this sector is a fertile ground for studying sustainability and consumer communities. For data analysis, the abductive approach of systematic combining is applied.

The paper identifies four distinct types of consumer communities and four roles that they can assume as business actors in the business network. Owing to their engagement in these specific roles, consumer communities become part of the SNVs’ network, akin to other business-to-business players.

This study represents one of the initial endeavors to introduce consumption into the IMP theoretical framework. In this paper’s conceptualization, consumer communities are groups of consumers and collective actors in the business network. Additionally, this study advances the research on sustainability as a network concept by including consumer communities’ roles in business networks.

In 2000, Cañibano et al. published a literature review entitled “Accounting for Intangibles: A Literature Review”. This paper revisits the conclusions drawn in that paper. We also discuss the intervening developments in scholarly research, standard setting and practice over the past 20+ years to outline the future challenges for research into accounting for intangibles.

We conducted a literature review to identify past developments and link the findings to current accounting standard-setting developments to inform our view of the future.

Current intangibles accounting practices are conservative and unlikely to change. Accounting standard setters are more interested in how companies report and disclose the value of intangibles rather than changing how they are determined. Standard setters are also interested in accounting for new forms of digital assets and reporting economic, social, governance and sustainability issues and how these link to financial outcomes. The IFRS has released complementary sustainability accounting standards for disclosing value creation in response to the latter. Therefore, the topic of intangibles stretches beyond merely how intangibles create value but how they are also part of a firm’s overall risk and value creation profile.

There is much room academically, practically, and from a social perspective to influence the future of accounting for intangibles. Accounting standard setters and alternative standards, such as the Global Reporting Initiative (GRI) and European Union non-financial and sustainability reporting directives, are competing complementary initiatives.

Our results reveal a window of opportunity for accounting scholars to research and influence how intangibles and other non-financial and sustainability accounting will progress based on current developments.

The purpose of this paper is to examine the effects of physical environment design (PED) and its antecedents on consumers’ emotional well-being (EWB). Drawing on place identity and emotional theories, the study aims to provide a new perspective to retail store experiences.

A survey of 800 respondents was conducted in London, out of which 764 responses were constructively used. The data was collected from international retail outlets, and structural equation modelling was used to analyse the data.

The empirical results show that PED has a positive effect on consumers’ EWB. Among the antecedents, visual identity does not have any significant effect on PED and EWB. In contrast, communication had a significant effect on PED but did not have any effect on EWB, and further, cultural heritage had a positive effect on both PED and EWB. Further, moderator analysis identifies the boundary conditions under which specific theories hold.

The value of this paper lies in its potential to be used for creating the perfect design planning in retail stores. Significant implications for managers and researchers are highlighted.

This paper presents an innovative approach to develop the principles of retail store’s PED to support the EWB of consumers.

The dissemination of misleading and false information through media can jeopardize a company’s reputation, thus posing a threat to its stock and performance. Institutional investors are known to influence capital markets. Therefore, this paper investigates whether institutional investors engage in shaping the media sentiment stock nexus, stabilize company stocks and enhance performance.

We first investigate the effect of media sentiment on market reactions by using panel regression models. To examine the role of institutional investors, we design a quasi-experiment by exploiting the Financial Crisis of 2008 and go further by examining the heterogeneity across levels of institutional ownership. Due to risk-averse, investors may respond asymmetrically to pessimistic and positive sentiment. Accordingly, we split the sample into two sub-types, good news and bad news, based on keywords representing positive or negative content.

We find supportive evidence that institutional investors have impacts on how the markets react to media news, and the impacts are heterogeneous in the face of bad and good news. We conjecture that institutional investors act as a stabilizer of stock prices through media sentiment management.

This paper confirms the distinctive effects of institutional investors on capital markets, and uncovers the behind-the-scenes intervention and possible causal link running from institutional investors to media sentiment management. It contributes to the broad field of institutional investors' behavior, media news involvement in capital markets and market efficiency.

The worldwide imposition of lockdown measures to control the 2020 coronavirus disease 2019 (COVID-19) outbreak has shifted most executive communications with external stakeholders online, resulting in quick responses from stakeholders. This study aims to understand how presentational styles exhibited in online communication induce immediate audience responses and empirically test the effectiveness of reactive impression management tactics.

The authors analyze presentational styles using MP3 files containing executive utterances during earnings call conferences held by S&P 100-listed firms after June 2020, the quarter after the World Health Organization declared the COVID-19 outbreak a pandemic on March 11, 2020. Using timestamps, the authors link each utterance to a 1-minute interval change in the ask/bid prices of the stocks that occurs a minute after the corresponding utterance begins.

Exhibiting an informational presentation style in earnings calls leads to positive and immediate audience responses. Managers tend to increase their reliance on promotional presentation styles rather than on informational ones when quarterly earnings exceed market forecasts.

Drawing on organizational genre theory, this research identifies the discrepancy between the presentation styles that audiences positively respond to and those that managers tend to exhibit in earnings calls and provides a reactive impression management typology for immediate responses from online audiences.

An emerging body of literature has pinpointed the role of supply chain structure in influencing the extent to which supply chain members disclose information about their internal practices and performance. Nevertheless, empirical research investigating the effects of firm-level relational embeddedness on network-level transparency still lags. Drawing on social network analysis, this research examines the effect of relational embeddedness on supply chain transparency and the contingent role of digitalization in the context of environmental, social and governance (ESG) information disclosure.

In their empirical analysis, the authors collected secondary data from the Bloomberg database about 2,229 firms and 14,007 ties organized in 107 extended supply chains. The authors employed supplier and customer concentration metrics to measure relational embeddedness and performed multiple econometric models to test the hypothesis.

The authors found a positive effect of supplier concentration on supply chain transparency, but the effect of customer concentration was not significant. Additionally, the digitalization of focal firms reinforced the impact of supplier concentration on supply chain transparency.

The study findings contribute by underscoring the critical effect of relational embeddedness on supply chain transparency, extending prior literature on social network analysis, providing compelling evidence for the intersection of digitalization and supply chain management, and drawing important implications for practices.

In light of the key role attributed to the board of directors as a monitoring tool to constrain earnings management practices, this study aims to examine the effect of some board attributes on accrual-based earnings management and real earnings management in the Middle Eastern and North African (MENA) context, whose institutional, economic and legal environment is markedly different from that of most organization for economic cooperation and development countries.

The authors selected a sample of 161 nonfinancial companies from nine MENA countries between 2014 and 2021 (corresponding to an unbalanced data panel of 486 observations). The authors used the generalized least squares regression test to examine the relationship between board attributes and earnings management.

The authors found that three board attributes (size, independence and gender diversity) have no effect on both types of earnings management practices, while CEO duality has no effect on accrual-based earnings management but has a significant and negative effect on real earnings management. Overall, the results suggest that most board attributes do not play a crucial role in reducing earnings management.

The results provide valuable insights into the universal role of corporate governance mechanisms and raise questions about the role of the board of directors in improving reporting quality in the MENA context.

Regulators should adapt corporate governance mechanisms to the characteristics of the institutional context in which they are inserted.

To the best of the authors’ knowledge, this study is the first to examine the effect of various board characteristics on both types of earnings management practices in the MENA context. It also provides the first empirical evidence of the relationship between board gender diversity and earnings management in the MENA region.

A stylized fact in finance literature is the belief in positive relationship between ex ante return and risk. Hence, a rational investor, by utility preference axiom can only consider committing fund in asset which promises commensurate higher return for higher risk. Questions have been asked as to whether this holds true across securities, sectors and markets. Empirical evidence appears less convincing, especially in developing markets. Accordingly, the author investigates the nature of reward for taking risk in the Nigerian Capital Market within the context of individual assets and markets.

The author employed ex post design to collect weekly stock prices of firms listed on the Premium Board of Nigerian Stock Exchange for period 2014–2022 to attempt to answer research questions. Data were analyzed using a unique M Vec TGarch-in-Mean model considered to be robust in handling many assets, and hence portfolio management.

The study found that idea of risk-expected return trade-off is perhaps more general than as depicted by traditional finance literature. The regression revealed that conditional variance and covariance risks reveal minimal or no differences in sign and sizes of coefficients. However, standard errors were also found to be large suggesting somewhat inconclusive evidence of existence of defined incentive structure for taking additional risk in the market.

In terms of choice of methodology and outcomes, this research adds substantial value to body of knowledge. The adapted multivariate model used in this paper is a rare approach especially for management of portfolios in developing markets. Remarkably, the research found empirical evidence that positive risk-expected return trade-off, as known in mainstream literature, is not supported especially using a typical developing country data.