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The purpose of this paper is to investigate whether an association exists between a firm's black economic empowerment (BEE) score and its share returns.

The study uses linear regression that controls for the factors explaining share returns identified by Fama and French. The study includes the Top 200 BEE companies according to the Financial Mail/Empowerdex Top Empowerment Companies survey for 2005‐2008.

The regression analysis shows a significant, negative association between a firm's BEE score and its share returns.

The results suggest that managers may be over‐investing in activities to improve their firms' BEE scores. This result is surprising. The long‐term effect of BEE investment, the association between the different elements of the BEE score and share returns and the optimal BEE investment level are all fruitful avenues for future research.

One of the elements of the BEE score is the percentage of black ownership of the company. Various studies have found positive market reactions to BEE deal announcements, which relate to the percentage of black ownership of the company. By contrast, this study investigates the relationship between an entity's BEE score, as opposed to a BEE deal announcement, and this entity's market performance. The results would be of interest to government policy analysts, investors and managers.

The purpose of this paper is to assess the performance and current position of the Meditari Accountancy Research Journal by building a profile of the articles published over the 21 years since its inception.

A descriptive meta-analysis of 293 articles published in 30 issues was conducted and comparable South African and international studies to structure the research were drawn upon. Contributors, research fields, research methods, citations and jurisdictions were examined and emerging trends assessed.

Meditari Accountancy Research Journal has a strong relationship with the South African accounting community. All dimensions of this article indicate that Meditari Accountancy Research has evolved over the 21 years since its inception and has made progress towards an international research journal.

Given that this study relates to one accounting research journal only, there is no specific benchmark against to which to assess its progress. However, the literature offers a basis for comparison.

The challenge is to maintain the traditional South African links while meeting the needs of a changing international accounting research environment.

The current study provides a comprehensive basis for an evaluation of the journal and its future potential by reviewing the full history of Meditari Accountancy Research Journal, which presents insights into the articles published within it, including the range and predominance of contributing authors, research methods, research fields, nature of research, citation rates and jurisdictions.

The purpose of this paper is to present a comparison of a number of business process mining tools currently available in the UK market. An outline of the practice of business process mining is given, along with an analysis of the main techniques developed by academia and commercial entities. This paper also acts as a primer for the acceptance and further use of process mining in industry, suggesting future directions for this practice.

Secondary research has been completed to establish the main commercial business process mining tool vendors for the market. A literature survey has also been undertaken into the latest theoretical techniques being developed in the field of business process mining.

The authors have identified a number of existing commercially available business process mining tools and have listed their capabilities within a comparative analysis table. All commercially available business process mining tools included in this paper are capable of process comparison and at least 40 per cent of the tools claim to deal with noise in process data.

The contribution of this paper is to provide a state‐of‐the‐art review of a number of commercial business process mining tools available within the UK. This paper also presents a summary of the latest research being undertaken in academia in this subject area and future directions for the practice of business process mining.

This paper aims to examine the influence of academics who are members of the profession on academic institutions.

An analytic autoethnography of the influence of accounting academics who are members of the profession on South African universities, supported by publicly available information, such as policy and other documents, web sites, and published material; documentation the authors are able to gather as participants; and formal and informal interviews the authors conduct with academic managers.

The paper finds that profession-identifying academics create and maintain rules and structures within academe, rules and structures that suit the profession. Managers who are members of the profession identify more closely with the profession than with their university. The analysis reveals the mechanics of this influence, as well as the consequences.

The paper contributes to theory by synthesizing the creation of profession-inspired institutions framework and the maintenance of an institutions framework into a single framework. It also applies the theory by providing an example of a profession creating and maintaining institutionalization in an adjacent institution. The findings have implications for academia in cases where academic staff members are members of professional bodies, such as engineering and law faculties. The insights highlighted here may also be of interest to Australasian, UK and US accounting academics, because the literature contains evidence of pressures from professional bodies there.

The purpose of this paper is to investigate whether investors value the future growth from acquisitions and the subsequent realisations thereof accurately.

The paper calculates conventional and adjusted market-to-book ratios and investigates abnormal cumulative returns over 20 quarters after portfolio formation for a sample of Standard & Poor’s 500 firms using a hedge portfolio and regression approach.

Hedge portfolios formed using adjusted market-to-book ratios underperform conventional hedge portfolios over a five-year period. Dividing the hedge into its comprising elements reveals that the underperformance of the adjusted hedge is mainly caused by weaker returns from value firms.

Findings are specific to large firms in a specific setting, and future research is needed to determine if findings are equally applicable to other situations. Findings imply that investors underrate the growth from new acquisitions and overrate the extent to which this has materialised.

The paper highlights that the extrapolation of future growth rates should be carefully considered in any equity valuation of a firm with current or past acquisitions.

This paper shows that inaccurate valuation of the growth of new acquisitions and the realisation thereof is at least partially responsible for the value versus growth phenomenon. It shows that the accounting information could be improved and highlights the importance of extrapolating past growth rates with care.

This study aims to evaluate the factors influencing certain negative feelings, such as social isolation disorder and loneliness, on consumers’ intentions to travel for tourism.

This quantitative research used a survey questionnaire composed of eight interval evaluation questions and six demographic variables for the data collection. A total of 290 usable responses were gathered from social networks. The evaluation of the Measurement Model adjustment and the verification of the research hypothesis was done by a structural equations modeling.

The results reveal that social isolation is not a monolithic construction; instead of that, it is a construct formed by two interrelated factors, the social isolation itself, involving the individual and her/his personality, and the social integration, a factor of situational order, referring to the relations of the individual with his reference group. Factors are influenced by the ease/difficulty of the individual, in cultivating relationships with other people and significantly influence the intention to travel for tourism.

The study contributes to tourism management by breaking the phenomenon down into two dimensions and evaluating the impact of each of them on consumer attitudes, which should be very useful for the segmentation and positioning of tourism products.

Results support the evidence reported by Murphy, who found that people tend to want to make friends, but that this tendency did not appear to be evident about travel and supported Hawthorne’s findings, that the more socially isolated people are, the less they will want to interact with others, demonstrating that social isolation is indeed an inhibitor of social interaction.

The purpose of this paper is to show how workflow management can be applied in the context of business networking.

The paper looks at workflow management systems (WfMSs) as an enterprise integration tool and, as such, it shows that WfMS require an appropriate integration infrastructure. The paper then describes how a WfMS that supports business networking can be built.

It is found that business networking requires a decentralized, peer‐to‐peer (P2P) integration infrastructure. On the other hand, it is found that it is possible to develop a generic and reusable workflow engine. Both components are then integrated in order to come up with a solution that supports business networking.

Issues concerning information and document management are not addressed. Neither mechanisms of storage and retrieval of exchanged documents, nor the format/structure of those documents are specified.

The paper assumes that enterprises will be willing to build up a P2P network where they will conduct their business‐to‐business (B2B) exchanges. Then, the proposed solution would allow their business processes to be linked without requiring tight coupling between their information systems.

The paper is useful to IT strategists and researchers dealing with WfMS, B2B integration architectures and applications of P2P technology.

The lack of reference architecture for Internet of Things (IoT) modeling impedes the successful design and implementation of an IoT-based production logistics and supply chain system (PLSCS). The authors present this study in two parts to address this research issue. Part A proposes a unified IoT modeling framework to model the dynamics of distributed IoT processes, IoT devices, and IoT objects. The models of the framework can be leveraged to support the implementation architecture of an IoT-based PLSCS. The second part (Part B) of this study extends the discussion of implementation architecture proposed in Part A. Part B presents an IoT-based cyber-physical system framework and evaluates its performance. The paper aims to discuss this issue.

This paper adopts a design research approach, using ontology, process analysis, and Petri net modeling scheme to support IoT system modeling.

The proposed IoT system-modeling approach reduces the complexity of system development and increases system portability for IoT-based PLSCS. The IoT design models generated from the modeling can also be transformed to implementation logic.

The proposed IoT system-modeling framework and the implementation architecture can be used to develop an IoT-based PLSCS in the real industrial setting. The proposed modeling methods can be applied to many discrete manufacturing industries.

The IoT modeling framework developed in this study is the first in this field which decomposes IoT system design into ontology-, process-, and object-modeling layers. A novel implementation architecture also proposed to transform above IoT system design models into implementation logic. The developed prototype system can track product and different parts of the same product along a manufacturing supply chain.

We present a critical literature review debating Brazilian research on social and environmental accounting (SEA). The aim of this study is to understand the role of politics in the construction of hegemonies in SEA research in Brazil. In particular, we examine the role of hegemony in relation to the co-option of SEA literature and sustainability in the Brazilian context by the logic of development for economic growth in emerging economies. The methodological approach adopts a post-structural perspective that reflects Laclau and Mouffe’s discourse theory. The study employs a hermeneutical, rhetorical approach to understand and classify 352 Brazilian research articles on SEA. We employ Brown and Fraser’s (2006) categorizations of SEA literature to help in our analysis: the business case, the stakeholder–accountability approach, and the critical case. We argue that the business case is prominent in Brazilian studies. Second-stage analysis suggests that the major themes under discussion include measurement, consulting, and descriptive approach. We argue that these themes illustrate the degree of influence of the hegemonic politics relevant to emerging economics, as these themes predominantly concern economic growth and a capitalist context. This paper discusses trends and practices in the Brazilian literature on SEA and argues that the focus means that SEA avoids critical debates of the role of capitalist logics in an emerging economy concerning sustainability. We urge the Brazilian academy to understand the implications of its reifying agenda and engage, counter-hegemonically, in a social and political agenda beyond the hegemonic support of a particular set of capitalist interests.

The current era of the fourth industrial revolution has attracted significant research on the use of digital technologies in improving construction project delivery. However, less emphasis has been placed on how these digital tools will influence the management of the construction workforce. To this end, using a review of existing works, this chapter explores the fourth industrial revolution and its associated technologies that can positively impact the management of the construction workforce when implemented. Also, the possible challenges that might truncate the successful deployment of digital technologies for effective workforce management were explored. The chapter submitted that implementing workforce management-specific digital platforms and other digital technologies designed for project delivery can aid effective workforce management within construction organisations. Technologies such as cloud computing, the Internet of Things, big data analytics, robotics and automation, and artificial intelligence, among others, offer significant benefits to the effective workforce management of construction organisations. However, several challenges, such as resistance to change due to fear of job loss, cost of investment in digital tools, organisational structure and culture, must be carefully considered as they might affect the successful use of digital tools and by extension, impact the success of workforce management in the organisations.