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11 – 20 of over 99000
Article
Publication date: 21 June 2023

Syed Zulfiqar Ali Shah and Fangyi Wan

This study examines whether country-level financial integration affects firms' accounting choices and the quality of financial information.

Abstract

Purpose

This study examines whether country-level financial integration affects firms' accounting choices and the quality of financial information.

Design/methodology/approach

This study employs Propensity Score Matching (PSM), and panel regressions of a large sample of data from 20 emerging markets over the period 1987–2018.

Findings

This study finds evidence that increased level of financial integration is significantly positively associated with firms' accruals earnings management (AEM) and real earnings management (REM).

Research limitations/implications

Findings in the study have implications for standard-setting bodies that aim to enhance the usefulness of financial reporting quality. The study also has implications for various initiatives by governments in emerging markets aimed at raising investor confidence and fostering stock market development through greater financial integration.

Practical implications

Findings in the study have implications for standard-setting bodies that aim to enhance the usefulness and quality of financial reporting. The findings can be of interest to analysts, auditors and other monitoring institutions who play a crucial role in detecting earnings management and reducing information asymmetry. Finally, the study has implications for various initiatives by governments in emerging markets aimed at raising investor confidence and fostering stock market development through greater financial integration.

Originality/value

Findings in the study reveal how country-level financial integration affects accruals and real earnings management in a sample of firms from 20 emerging markets. Further, the study adds to the growing body of literature on emerging markets where capital markets mechanisms, regulatory environment and firm's corporate governance are distinct to developed markets.

Details

Journal of Applied Accounting Research, vol. 25 no. 2
Type: Research Article
ISSN: 0967-5426

Keywords

Open Access
Article
Publication date: 14 October 2022

Zhixiang Chen

This paper is to explore how cross-functional integration (CFI) of production-marketing can impact the firm's build-to-order (BTO) competitiveness, marketing performance (MP) and…

1088

Abstract

Purpose

This paper is to explore how cross-functional integration (CFI) of production-marketing can impact the firm's build-to-order (BTO) competitiveness, marketing performance (MP) and financial performance (FP).

Design/methodology/approach

Empirical study with the structural equation modeling approach is applied. Six hypotheses are constructed and tested based on survey data collected from Chinese manufacturing firms.

Findings

The survey data supports that production-marketing integration (PMI) improves BTO competitiveness (BTOC) and MP and that BTOC also positively affects marketing outcome which, in turn, impacts a firm's FP. The results reveal that CFI of production-marketing is an effective approach for achieving the BTO manufacturing strategy and can improve organizational performance.

Originality/value

The paper uncovers the role of CFI of production-marketing in BTO manufacturing strategy and its impacts on a firm's MP and FP and provides important managerial implications for practitioners to improve organizational time-based competitiveness and performance in today's time-based competition era.

Details

European Journal of Management Studies, vol. 27 no. 2
Type: Research Article
ISSN: 2183-4172

Keywords

Article
Publication date: 4 March 2014

Nusa Fain and Beverly Wagner

This paper takes an exploratory approach towards understanding the applicability of established theoretical frameworks for cross-functional integration in different global…

1350

Abstract

Purpose

This paper takes an exploratory approach towards understanding the applicability of established theoretical frameworks for cross-functional integration in different global environments. In particular, the role of culture is considered as its impact on organizations may affect the ability to create a global generic model for cross-functional integration in product development. In order to achieve this aim, the paper will explore two cases from different cultural environments, namely that of Slovenia and the UK.

Design/methodology/approach

The authors compare two different companies, based on their case profile and cultural background. Both are heavy engineering companies involved in product development, one originating in the developing economy of Slovenia, the other from the developed UK economy. The authors have employed a mix methodology, including literature and documentation analysis, questionnaire surveys and interviews.

Findings

Combining organizational climate and consequently informal cooperation with formal organizational schemes, when allowing moderate levels of authority, can be beneficial for NPD success and R&D-marketing integration. These findings confirm the theoretical principles of Gupta et al., but are to some extent actually directly connected to NPD success, rather than to the R&D-marketing interface. The framework might be valid when exploring a large sample of companies at national levels, but needs further specifications and expansion when employed in a single case company. Furthermore, the two studied cases show that special care needs to be placed on taking account of cultural differences, when employing NPD in different locations/international business units.

Originality/value

The paper presents a case comparison of cross-functional integration in two different cultural contexts. From this exploratory research, the main contribution highlights the key role of cultural context in developing effective cross-functional interfaces in product development.

Details

European Business Review, vol. 26 no. 2
Type: Research Article
ISSN: 0955-534X

Keywords

Article
Publication date: 18 September 2017

Nicholas Addai Boamah

The purpose of this paper is to examine the degree of integration of emerging markets with the world market and amongst them. Further, the impact of the 2008 global financial…

5757

Abstract

Purpose

The purpose of this paper is to examine the degree of integration of emerging markets with the world market and amongst them. Further, the impact of the 2008 global financial crisis (GFC) on and structural breaks in the degree of integration are explored. The paper, additionally, analyses the behaviour of the level and the rate of change of the degree of integration around the period of the GFC.

Design/methodology/approach

The paper relies on the R2 from a single factor world and the incremental R2 from a two-factor world and emerging market models as proxies for the global and emerging markets degree of integration, respectively. Relying on the Quandt test for unknown structural breakdates, the paper examines structural breaks in the degree of integration.

Findings

The degree of global integration of emerging markets exceeds their degree of integration with themselves, particularly in the recent period. Additionally, the GFC is a significant driver of the recent increase in world market integration. We observe significant structural shifts in both the degree of the world and emerging markets integration measures. The breaks in the world market integration largely coincide with the GFC, whereas that of the emerging market integration is dispersed. Also, the level of the world market degree of integration has reversed recently, although, the degree of world market integration remains above pre-crisis point.

Practical implications

There exist high country-specific components in emerging market returns that are not accounted for by the world and emerging market factors despite the recent increase in global integration. Thusly, portfolios that diversify across emerging markets appear to have a high diversification potential. Additionally, substantial diversification gains may be realised with the inclusion of emerging market assets in global portfolios.

Originality/value

The paper shows that the emerging markets respond similarly to common global, although, diversely to emerging markets events. Additionally, evidence of the impacts of the GFC on the degree of global integration of emerging markets is presented.

Details

International Journal of Emerging Markets, vol. 12 no. 4
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 3 August 2012

Trine Susanne Johansen and Sophie Esmann Andersen

Integration is a key component within marketing‐ and corporate communication. Benefits include synergetic representations, increased credibility and transparency. However…

4622

Abstract

Purpose

Integration is a key component within marketing‐ and corporate communication. Benefits include synergetic representations, increased credibility and transparency. However, integration may be problematic. With the purpose of re‐conceptualizing integration, this paper aims to discuss how organizational self‐understanding and self‐presentation are challenged by consumer resistance as integrative communication practices prevent organizations from fully engaging in meaningful stakeholder dialogue.

Design/methodology/approach

Framed by a cross‐disciplinary review of integration as a concept, Arla Foods' “ONE” is analyzed by way of a qualitative content analysis as an exemplary case of integrated communication. Subsequently, the case is approached from a critical consumer perspective, drawing on empirical studies of consumer responses to and conversations with Arla Foods.

Findings

An alternative approach to integration is presented replacing the notion of “one voice, one sound, one story” with an emersion of the organization into consumer narratives and market cultures. Integration is re‐conceptualized as moving from an intra‐organizational perspective towards a co‐creative perspective.

Research limitations/implications

There is a need for further re‐conceptualization of integrated communication in order to develop a theoretical framework and definition that articulates a co‐creative view on integration.

Practical implications

Re‐articulating integration based on co‐creation carries different potential consequences for communication management, e.g. listening to consumer voices, self‐reflection and co‐development.

Originality/value

The original contribution lies in re‐conceptualizing integration as moving from an intra‐organizational perspective towards a co‐creative perspective with both practical and research implications.

Details

Corporate Communications: An International Journal, vol. 17 no. 3
Type: Research Article
ISSN: 1356-3289

Keywords

Article
Publication date: 2 October 2017

Abdullah Promise Opute and Nnamdi O. Madichie

This paper aims to evaluate the working relationship between accounting and marketing, exploring the nature and antecedents of their integration and consequences on firm…

1196

Abstract

Purpose

This paper aims to evaluate the working relationship between accounting and marketing, exploring the nature and antecedents of their integration and consequences on firm performance.

Design/methodology/approach

The methodological approach in this study is twofold. First, a review of literature is used to identify core antecedents in the body of literature. Subsequently, four exploratory case studies were used in examining the antecedents of accounting–marketing integration from a frontier market perspective.

Findings

This study identifies information sharing and involvement as core elements of accounting–marketing integration; cultural diversity and management mechanisms (policy, structural and procedural justice) as antecedents of accounting–marketing integration; and country of origin as a mediating factor on the extent of association of some variables on their integration. Finally, this study establishes that there is a positive association between accounting–marketing integration and organisational performance.

Research limitations/implications

This study has two major limitations. First, it is qualitative and based on a review of literature and evidence from four case studies. Second, it explored only the less developed country context. Future research should, therefore, aim to address these gaps.

Practical implications

This study draws attention to the fact that accounting and marketing are culturally diverse, and strategic managerial mechanisms must be used to maintain a relevant and effective level of information sharing and involvement towards enhancing organisational performance.

Originality/value

Using exploratory case studies to support the development of a framework, the authors contend that organisations would optimise organisational performance if due attention is given to both information sharing and involvement dimensions of integration, as well as appropriate managerial mechanisms adopted in managing their relationship.

Article
Publication date: 29 January 2020

Muhammad Hanif

Islamic capital markets, i.e. ICMs, featured as socially responsible investments, less levered and more reflective of the real sector, are a recent development in financial markets

Abstract

Purpose

Islamic capital markets, i.e. ICMs, featured as socially responsible investments, less levered and more reflective of the real sector, are a recent development in financial markets showing an impressive growth and offering the potential for portfolio diversification benefits. The purpose of this study is to understand the long-run integration of ICMs in the Asia/Pacific region.

Design/methodology/approach

This sample includes ICMs of Asia/Pacific region (such as Pakistan, India, China, Japan, Thailand, Malaysia and Indonesia) for 280 weeks between 2011 and 2016. Selected indexes are FTSE Islamic except for Pakistan and Indonesia. Evidence was obtained through the application of correlation, unit root, Johansen cointegration and Granger causality tests.

Findings

This study documents the results of the integration of ICMs based on developmental stage, geographic location, economic cooperation and shared religious beliefs/civilization. Partial support was observed for all hypotheses: integration of markets based on economic grouping, location, economic treaties and shared civilization. The Japanese market was the most integrated, while the Indian and Malaysian markets are the least. Evidence supports the shift of leadership role from advanced markets to emerging markets.

Practical implications

Selected diversification opportunities are available for global Islamic as well as conventional investors. This study recommends closer cooperation among Muslim majority countries of the region, as well as the effective use of economic cooperation treaties for joint economic growth and prosperity.

Originality/value

This study contributes to the literature by providing evidence on the integration of ICMs in an economically important region (Asia/Pacific) that is witnessing an increasing role in the global gross domestic product and international trade.

Details

Journal of Islamic Accounting and Business Research, vol. 11 no. 4
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 3 July 2009

Arun Kumar Misra and Jitendra Mahakud

Financial sector reform measures, which were initiated in 1991, have provided some degree of maturity and integration of different segments of India's financial markets. The…

2492

Abstract

Purpose

Financial sector reform measures, which were initiated in 1991, have provided some degree of maturity and integration of different segments of India's financial markets. The purpose of this paper is to articulate the impact of financial sector reform measures on integration of various segments of financial markets in India.

Design/methodology/approach

The paper surveys various methodologies for measurement of financial integration and uses the recently developed technique of co‐integration in a VAR framework to assess the extent of integration of various segments of India's financial markets.

Findings

The paper concludes that the financial market integration is inconclusive in India. Only a few segments of money market, Gilt market and foreign exchange market are integrated. Interest rate parity does not hold in India's case, which indicates poor evidence in support of international integration of domestic financial markets. Similarly, the analysis of the relationship between domestic saving and domestic investment does not support international integration. The study of co‐integration of Nasdaq and Bombay sensitive index (BSE), also revealed absence of international integration.

Research limitations/implications

Owing to non‐availability of time series data, the paper could not consider the mutual fund market, pension market and various derivatives markets in the overall process of assessment of financial integration. However, the impact on the findings is minimal, as these markets are not so far developed in India.

Practical implications

The findings have significant practical implications particularly in the formulation of policies on management and interventions in the money market, foreign exchange and equity markets and in the overall formulation of monetary policy for the economy.

Originality/value

This paper presents a quite comprehensive research study on financial integration in India and is original, particularly in the area of application of the co‐integration technique for assessment of financial integration.

Details

International Journal of Emerging Markets, vol. 4 no. 3
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 1 August 2006

Munsung Rhee and Satish Mehra

Aims to examine the performance affects of strategic integration in retail banking services.

4602

Abstract

Purpose

Aims to examine the performance affects of strategic integration in retail banking services.

Design/methodology/approach

Using a survey of retail banking executives, it is examined as to how the role of operations and marketing areas can assist retail banks to shape their competitive strategies.

Findings

It is found that proactiveness and competitive strategy substantially affect a retail bank's performance based on the strength of integration of operations and marketing areas.

Research limitations/implications

Research is limited to retail banking services.

Originality/value

The research broadens the scope of the strategic fit concept towards the analysis of performance effects due to functional integration in retail banks.

Details

International Journal of Service Industry Management, vol. 17 no. 4
Type: Research Article
ISSN: 0956-4233

Keywords

Article
Publication date: 29 January 2020

Ibnu Qizam, Misnen Ardiansyah and Abdul Qoyum

The purpose of this study is to investigate the nature and integration of Islamic stock markets across the Association of Southeast Asian Nations (ASEAN-5) countries for economic…

1054

Abstract

Purpose

The purpose of this study is to investigate the nature and integration of Islamic stock markets across the Association of Southeast Asian Nations (ASEAN-5) countries for economic community (AEC) development.

Design/methodology/approach

Using samples of daily closing prices from 2009 to 2014 across ASEAN-5 countries, co-integration and Granger-causality tests were applied.

Findings

This research finds that Islamic capital markets across ASEAN-5 countries remain highly integrated despite the global financial crisis of 2008, and it also finds the integration strength between Jakarta Islamic Index -Indonesia and Bursa Malaysia Emas Sharia-Malaysia Islamic capital markets to be the most influential across ASEAN-5 countries, while MSCI-Philippine Islamic capital market is the most vulnerable across ASEAN-5 Islamic capital markets.

Research limitations/implications

The overwhelming benefit of Islamic stock market integration across ASEAN-5 countries, and, even in a broader context, awaits further inquiry.

Originality/value

Islamic capital markets across ASEAN-5 countries are integrated regardless of the post-global financial crisis. This contributes to confirming cross-border integration policies, especially for AEC development.

Details

Journal of Islamic Accounting and Business Research, vol. 11 no. 4
Type: Research Article
ISSN: 1759-0817

Keywords

11 – 20 of over 99000