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Functionalization of organic cotton fabrics (OCFs) by in situ deposition of chitosan reduced-stabilized silver nanoparticles (AgNPs). No other toxic chemicals used to warrant an ecofriendly synthesis protocol. Human toxicity of silver systematically avoided to use as textile clothing. Primary colors (nearly-red, yellow and blue) were imparted on OCFs via localized surface plasmon resonance (LSPR) of AgNPs. Decent mechanical properties and laundering durability in terms of antibacterial/fastness test improved mechanical properties.

Silver nanoparticles can be synthesized by using silver nitrate along with commercially available chitosan. Due to the surface LSPR property of silver nanoparticles, it exhibits versatile colors depending on the synthesizing procedures. The coloration occurs due to the electrostatic interaction between the AgNPs and chitosan-treated OCF. The nanotreated fabrics provide excellent mechanical properties with improved antibacterial effects.

X-ray fluorescence (XRF) analysis quantifies the developed materials in the substrates. Scanning electron microscopy (SEM) characterization indicates the appearance and morphologies of silver nanoparticles into the fabric surface after the coloration process. It proves that the treated cotton knit fabric exhibits the LSPR optical features of AgNPs. The antibacterial and mechanical properties confirm the improved functionality of products.

Improved mechanical properties, antibacterial performances and coloration effects on organic cotton substrates in terms of chitosan-mediated nanosilver are not yet studied.

The paper aims to investigate the value-relevance of changes in fair values of investment property reported under International Accounting Standards (IAS) 40 and International Financial Reporting Standards (IFRS) 13.

Multivariate regression models are used to regress cumulative market-adjusted stock returns of real estate firms on changes in fair values, along with control variables and corporate governance variables, in order to examine the research question.

Using hand-collected data from the Australian Real Estate Industry (AREI), the authors find that changes in fair values of investment property are value-relevant for equity investors. The authors further find that using unobservable inputs in an active market (Level 3 inputs) does not diminish the information content of fair values. The authors document that properties valued exclusively by directors have a significantly reduced value-relevance, whereas property valuations made collectively by both directors and independent valuers have superior value-relevance, possibly owing to the combination of inside knowledge and externally imposed monitoring. Collectively, the findings suggest that in the real estate industry, where unobservable inputs are commonly used to determine fair values of properties, the fair values determined subjectively are perceived to be sufficiently informative and relevant.

The authors' findings have important implications for accounting standard-setters in considering whether an external valuation should be required and whether the extensive measurement-related fair value disclosure requirements are useful.

The study extends previous archival evidence and complements prior commentaries on experimental and analytical work in the Australian regulatory environment.

This chapter provides a comprehensive description of special education in Bangladesh. It begins with the early origins of special education and then proceeds with definitions of and prevalence of current disabilities in Bangladesh. This section is followed by governmental policies and legislation related to the right to education for all students with disabilities. Next, educational intervention methods are delineated along with a description of governmental special schools and teacher training and preparation of special educational professions. Early intervention practices and working with families is also discussed. The chapter ends with the progress that Bangladesh has made and the challenges that remain.

This paper aims to examine the question of whether external auditors incorporate equity holdings by overlapping audit committee members as a priced governance factor and tests whether this attribute, as a mechanism for ensuring good governance, affects the propensity for external auditors to issue modified audit opinions.

Overlapping membership in this context refers to the arrangement where at least one audit committee member also sits on the compensation committee. Both ordinarily least square and logistic regression are used to capture the impact of overlapping committee members and equity holding of those overlapping committee members.

Using archival data from Australian Stock Exchange listed companies, the authors find support for the beneficial effect of having overlapping audit committee members with equity holdings. The authors also find that auditor propensity to issue modified audit opinions is lower for firms with equity holdings by overlapping audit committee members.

The finding has practical implication to the investors and regulators as overlapping audit committee members with equity holdings may provide especially effective oversight by monitoring opportunistic accounting policy choices for maximizing compensation pay. To the extent that this occurs, audit risk will decrease, requiring less audit effort and lower audit fees than would otherwise be necessary. Similarly, such oversight is likely to make financial reporting more credible and will reduce the possibility of receiving modified audit opinions by reporting organizations.

Both audit and compensation committees are equally important in modern organizations. While both of the committee have distinctive responsibilities, questions remain on the desirability of overlapping audit committee. Also, this is the first study to the authors’ knowledge that incorporates overlapping membership on audit and compensation committee as an important component of auditor risk perception which regards in pricing the audit fees.

We review and synthesize the existing research on directors' and officers’ (D&O) liability insurance. Our objectives are (1) to examine the institutional forces and regulatory requirements that have influenced the development of D&O liability insurance; (2) to identify the factors that influence firms to purchase D&O liability insurance and explore the consequences associated with its usage and (3) to identify gaps in the current literature and provide recommendations for future research on D&O liability insurance.

We perform a systematic literature review (SLR) using the Preferred Reporting Items for a Systematic Review of Meta-Analysis (PRISMA) guidelines to examine archival studies that investigate the determinants and consequences of D&O liability insurance. Using a Boolean search strategy on the “Web of Science” (WoS) and PRISMA selection criteria, we review 64 published archival research articles and three working papers from 1987 to October 2023.

Our review reveals that disclosing detailed information regarding D&O liability insurance, such as total insurance premiums and coverage limit, is predominantly voluntary, except in Taiwan. Our findings suggest that the decision to purchase D&O liability insurance is influenced by litigation risk, which is determined by factors such as firm size, complexity and corporate governance variables. We also find that D&O liability insurance has implications for financial reporting, audit outcomes, investment behavior and capital market performance.

In the post-COVID era, where firms face pressure due to financial constraints, our research emphasizes the practical importance of carefully considering and understanding the impact of D&O liability insurance, particularly as it concerns the demand for such insurance.

To the best of our knowledge, this study represents the first systematic review of previous research on D&O liability insurance. Our review highlights some research gaps, particularly in relation to the implications for financial reporting practices, auditing outcomes, firm investment behavior and capital market consequences.

This paper aims to investigate the impact of International Financial Reporting Standards (IFRS) adoption on financial reporting quality and cost of equity. The paper further investigates whether such association varies at different life cycle stages.

This paper follows the methodologies of DeAngelo et al. (2006) and Dickinson (2011) to develop proxies for the firms’ stages in the life cycle.

Using both pre- and post-IFRS adoption period for Australian listed companies, the paper finds that financial reporting quality reduced and cost of equity increased because of the adoption of IFRS. The paper further evidences that financial reporting quality in the post-IFRS period increased cost of equity. Finally, the paper finds that mature firms produce a better quality of earnings, which result in lower cost of capital. The results indicate that a mature firm was benefited because of the adoption of IFRS.

The finding of this research is useful to the regulators and practitioners to understand the widespread benefit of IFRS adoption.

This paper aims to investigate whether audit committee ownership (consisting of both equity holdings and option holdings) is associated with the cost of equity capital.

This paper uses regression analysis to examine the association between audit committee ownership and the cost of equity capital. The data set consists of 2,825 firm-year observations for companies listed on the ASX between 2001 and 2015. This paper also conducts tests to explore the mediating effects of financial reporting quality, firm performance and the risk of reporting problems, on the relation between audit committee ownership and cost of equity capital.

The analyses reveal that audit committee ownership reduces the firm’s cost of equity and, thereby, support the incentive alignment view. However, the association is driven primarily by audit committee equity ownership, with option holdings having an insignificant effect. This paper also finds that firm performance mediates the association between audit committee ownership and the cost of equity capital.

Findings of the existing corporate governance research relating to the cost of equity capital and audit committee ownership remain sparse in the context of “comply-or-explain” types of regulatory environment, like that of Australia. The findings indicate that principle-based discretionary governance arrangements, e.g. compensating audit committee members with company equity, may bring benefits to firms in terms of cheaper financing. Regulators, scholars and practitioners are invited to consider further the comprehensive implications of the structure and transparency of audit committee incentives on the effective functioning of security markets.

The effects of audit committee ownership on the cost of equity capital are an issue of direct economic consequence for equity investors. The main finding of this study, namely, that a firm with higher audit committee share ownership is likely to benefit from a lower cost of equity capital, therefore adds value to the limited extant literature.

The author discusses his views on writing good, structured literature reviews (SLRs), meta-analyses and bibliometric articles with the aim of encouraging the audience to engage with this research approach.

The author adopts a descriptive approach for sharing his views.

The author provides some examples where SLRs might be useful.

Although conducting SLRs is quite laborious, the eventual publication is highly rewarding both in terms of relatively high citation counts and of offering many early career researchers with a handy scholarly resource for initiating new research.

The imperative to conserve resources and minimize operational expenses has spurred a notable increase in the adoption of lean manufacturing within the context of the circular economy across diverse industries in recent years. However, a notable gap exists in the research landscape, particularly concerning the implementation of lean practices within the pharmaceutical industry to enhance circular economy performance. Addressing this void, this study endeavors to identify and prioritize the pivotal drivers influencing lean manufacturing within the pharmaceutical sector.

The outcome of this rigorous examination highlights that “Continuous Monitoring Process for Sustainable Lean Implementation,” “Management Involvement for Sustainable Implementation” and “Training and Education” emerge as the most consequential drivers. These factors are deemed crucial for augmenting circular economy performance, underscoring the significance of management engagement, training initiatives and a continuous monitoring process in fostering a closed-loop practice within the pharmaceutical industry.

The findings contribute valuable insights for decision-makers aiming to adopt lean practices within a circular economy framework. Specifically, by streamlining the process of developing a robust action plan tailored to the unique needs of the pharmaceutical sector, our study provides actionable guidance for enhancing overall sustainability in the manufacturing processes.

This study represents one of the initial efforts to systematically identify and assess the drivers to LM implementation within the pharmaceutical industry, contributing to the emerging body of knowledge in this area.

The aim of this paper is to examine empirically the managerial earnings management practices of financially distressed firms, and to consider whether these practices changed during the recent global financial crisis. Although corporate distress has been a topic of research interest for many years, earnings manipulation by distressed firms has received relatively little attention.

The paper uses three measures of distress, and discretionary accruals, a popular proxy for earnings management, to investigate the impact of distress on earnings management.

The paper finds that managers of distressed firms engage more in income‐decreasing earnings management practices compared to their healthy firm counterparts. The paper also finds some evidence of the effect of the global financial crisis on the association between financial distress and earnings management. Finally, the paper shows some evidence of positive market pricing of discretionary accruals in the non‐crisis period, but a substantial reduction in pricing coefficients during the global financial crisis period.

Financial distress experienced by firms provides incentives to managers for earnings manipulation. However, the direction of the earnings management could be income‐increasing or income‐decreasing. The findings from this study will allow investors to make better investment decisions for firms that are experiencing financial difficulties.

This paper is the first in New Zealand to investigate the association between firm distress and managerial earnings management decisions. Recently, New Zealand experienced a spate of finance company collapses that somewhat contributes, indirectly, to financial distress experienced by firms. The New Zealand reporting environment is characterized by concentrated ownership, relaxed monitoring by regulatory authorities, and a very low litigation threat that provides an interesting setting to examine the research question. This paper is also the first to test the market pricing of earnings components in New Zealand.