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Article
Publication date: 1 December 2003

Wang Lan

As China is transforming from a planned economy a market‐oriented economy, private enterprise plays a prominent role in China's economy today. This paper introduces the status of…

4288

Abstract

As China is transforming from a planned economy a market‐oriented economy, private enterprise plays a prominent role in China's economy today. This paper introduces the status of private enterprise and focuses on its records management. By explaining the changes in China's policy towards the private sector, it deals mainly with practice in both archive administration and the records management of private companies. Government archives administration changed along with national policy from serving only the public sector to serving both public and private sectors evenly. For the private sector, archival consciousness is the key element in its fledging stage of records management. The paper also analyzes the characteristics of private companies that are different from state‐owned ones and the advantages and disadvantages of records management, and predicts some aspects of its development.

Details

Records Management Journal, vol. 13 no. 3
Type: Research Article
ISSN: 0956-5698

Keywords

Article
Publication date: 2 December 2019

L. Emily Hickman

This paper aims to investigate the motivations behind the publication of corporate social responsibility (CSR) reports, and particularly the effect of information asymmetry…

1545

Abstract

Purpose

This paper aims to investigate the motivations behind the publication of corporate social responsibility (CSR) reports, and particularly the effect of information asymmetry between firms and their owners.

Design/methodology/approach

A natural experiment contrasting the CSR reporting of private vs public firms is used to test whether the degree of information asymmetry is a significant factor in the decision to publish CSR reports. Using a hand-collected sample of the 239 largest US private companies matched with publicly-traded firms, the effect of these inherently different information environments on CSR reporting is tested through logistic regression. Factors suggested by stakeholder and legitimacy theories are tested for their differential impact on private vs public firms’ decisions to publish a CSR report.

Findings

Results indicate that private firms are less likely to publish a CSR report than similar public firms. Public firms also follow Global Reporting Initiative guidelines more frequently, consistent with signaling report quality to dispersed investors. A subsample of private companies facing greater information asymmetry is found to be similar to public firms in their reporting behavior, reinforcing the link between information asymmetry and CSR disclosure. Further analysis suggests that non-owner stakeholders play an important role in private companies’ CSR reporting decisions.

Practical implications

In addition to accounting and governance scholars, the findings should interest private firm managers preparing for an initial public offering (IPO), as the evidence suggests that CSR reporting is used to communicate information to dispersed investors. The insight into reporting motivations should be useful to accountants engaged in CSR consultation and assurance.

Social implications

With the growing attention paid to the CSR performance of firms, demonstrated by the growth in socially responsible investing, the study provides evidence that effective communication of CSR information to investors may play a key role in CSR-engaged firms’ disclosure strategies.

Originality/value

To the best of the author’s knowledge, this study is the first to analyze the CSR reporting decisions of a large sample of publicly-traded and privately-held firms. The results add to our understanding of what motivates firms to publish CSR reports, highlighting the importance of information asymmetry between the firm and its owners.

Details

Sustainability Accounting, Management and Policy Journal, vol. 11 no. 1
Type: Research Article
ISSN: 2040-8021

Keywords

Article
Publication date: 1 April 2006

John Holland

This paper aims to explore how fund managers (FMs) deal with major problems of ignorance and uncertainty in stock selection and in asset allocation decisions.

3941

Abstract

Purpose

This paper aims to explore how fund managers (FMs) deal with major problems of ignorance and uncertainty in stock selection and in asset allocation decisions.

Design/methodology/approach

Interviews were conducted with 40 fund managers in the period October 1997 to January 2000. A seven stage approach was adopted to sift through and process the large volumes of case data. The interview case data formed the basis for identifying common patterns and themes across the cases.

Findings

The case data revealed the nature of this private information agenda concerning intellectual capital or intangibles and the dynamic connections between these variables in the value creation process. The case data provided insight into how the book value and market value gap arose and the special role of information on intangibles and intellectual capital in valuing the company.

Practical implications

The fund management behaviour has important implications for regulatory policy issues on insider information, on corporate disclosure, the corporate governance role of financial institutions, and for the governance of financial institutions.

Originality/value

The paper focuses on issues of importance in an increasingly concentrated and global FM industry.

Details

Managerial Finance, vol. 32 no. 4
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 15 June 2018

Victoria C. Edgar, Matthias Beck and Niamh M. Brennan

The UK private finance initiative (PFI) public policy is heavily criticised. PFI contracts are highly profitable leading to incentives for PFI private-sector companies to support…

5296

Abstract

Purpose

The UK private finance initiative (PFI) public policy is heavily criticised. PFI contracts are highly profitable leading to incentives for PFI private-sector companies to support PFI public policy. This contested nature of PFIs requires legitimation by PFI private-sector companies, by means of impression management, in terms of the attention to and framing of PFI in PFI private-sector company annual reports. The paper aims to discuss this issue.

Design/methodology/approach

PFI-related annual report narratives of three UK PFI private-sector companies, over seven years and across two periods of significant change in the development of the PFI public policy, are analysed using manual content analysis.

Findings

Results suggest that PFI private-sector companies use impression management to legitimise during periods of uncertainty for PFI public policy, to alleviate concerns, to provide credibility for the policy and to legitimise the private sector’s own involvement in PFI.

Research limitations/implications

While based on a sizeable database, the research is limited to the study of three PFI private-sector companies.

Originality/value

The portrayal of public policy in annual report narratives has not been subject to prior research. The research demonstrates how managers of PFI private-sector companies present PFI narratives in support of public policy direction that, in turn, benefits PFI private-sector companies.

Details

Accounting, Auditing & Accountability Journal, vol. 31 no. 6
Type: Research Article
ISSN: 0951-3574

Keywords

Article
Publication date: 1 October 2001

John Holland

Explores the central role that private information on corporate intangibles plays in the private corporate governance role of financial institutions (FIs). The institutional fund…

7135

Abstract

Explores the central role that private information on corporate intangibles plays in the private corporate governance role of financial institutions (FIs). The institutional fund managers’ (FMs) private understanding of many qualitative or intellectual capital factors driving corporate performance was the basis for wide‐ranging corporate governance influence concerning financial performance and conventional Cadbury‐style corporate governance issues. This was primarily a private, implicit corporate governance process by FIs and their FMs during good corporate performance. Also reveals how the nature of FM corporate governance influence became more interventionist with adverse changes in corporate performance factors, in FI‐side influence factors and in environmental circumstances. The qualitative intangible factors, especially board and top management qualities, were central to this more proactive form of intervention. Finally, discusses the case results within the research literature on the corporate governance role of FIs, identifies new directions for research and discusses policy implications briefly.

Details

Accounting, Auditing & Accountability Journal, vol. 14 no. 4
Type: Research Article
ISSN: 0951-3574

Keywords

Article
Publication date: 1 July 2006

Jill Frances Solomon and Aris Solomon

The purpose of this paper is to determine the extent to which social, ethical and environmental (SEE) disclosure is being integrated into institutional investment. The aim is also…

7327

Abstract

Purpose

The purpose of this paper is to determine the extent to which social, ethical and environmental (SEE) disclosure is being integrated into institutional investment. The aim is also to investigate the interplay between private and public SEE disclosure.

Design/methodology/approach

The paper uses a grounded theory methodology involving interviews with 21 members of the UK institutional adjustment community.

Findings

The paper found that institutional investors did not consider that public SEE disclosure was adequate for their portfolio investment decisions, suggesting that SEE disclosure was decision‐useful. Consequently, this perceived market failure in public SEE disclosure has been supplemented by the development of sophisticated private SEE disclosure channels. Further, the interviews indicated that this private SEE disclosure process was becoming dialogic in nature, since not only were institutional investors initiating the engagement process with companies but also companies were starting to request information on the SEE disclosure required by institutional investors. This finding contrasts with previous work which found that the private disclosure process in financial reporting was essentially user‐oriented and uni‐directional.

Originality/value

This paper highlights the importance of SEE disclosure to a crucial user group, institutional investors. The research contributes to the SEE disclosure literature by revealing details of the evolving private SEE disclosure process for the first time.

Details

Accounting, Auditing & Accountability Journal, vol. 19 no. 4
Type: Research Article
ISSN: 0951-3574

Keywords

Article
Publication date: 25 October 2011

Jill F. Solomon, Aris Solomon, Simon D. Norton and Nathan L. Joseph

This paper aims to explore the nature of the emerging discourse of private climate change reporting, which takes place in one‐on‐one meetings between institutional investors and…

6123

Abstract

Purpose

This paper aims to explore the nature of the emerging discourse of private climate change reporting, which takes place in one‐on‐one meetings between institutional investors and their investee companies.

Design/methodology/approach

Semi‐structured interviews were conducted with representatives from 20 UK investment institutions to derive data which was then coded and analysed, in order to derive a picture of the emerging discourse of private climate change reporting, using an interpretive methodological approach, in addition to explorative analysis using NVivo software.

Findings

The authors find that private climate change reporting is dominated by a discourse of risk and risk management. This emerging risk discourse derives from institutional investors' belief that climate change represents a material risk, that it is the most salient sustainability issue, and that their clients require them to manage climate change‐related risk within their portfolio investment. It is found that institutional investors are using the private reporting process to compensate for the acknowledged inadequacies of public climate change reporting. Contrary to evidence indicating corporate capture of public sustainability reporting, these findings suggest that the emerging private climate change reporting discourse is being captured by the institutional investment community. There is also evidence of an emerging discourse of opportunity in private climate change reporting as the institutional investors are increasingly aware of a range of ways in which climate change presents material opportunities for their investee companies to exploit. Lastly, the authors find an absence of any ethical discourse, such that private climate change reporting reinforces rather than challenges the “business case” status quo.

Originality/value

Although there is a wealth of sustainability reporting research, there is no academic research on private climate change reporting. This paper attempts to fill this gap by providing rich interview evidence regarding the nature of the emerging private climate change reporting discourse.

Details

Accounting, Auditing & Accountability Journal, vol. 24 no. 8
Type: Research Article
ISSN: 0951-3574

Keywords

Article
Publication date: 12 June 2020

Tuyet-Mai Nguyen and Ashish Malik

Online knowledge sharing is a critical process for maintaining organisational competitive advantage. This paper aims to develop a new conceptual framework that investigates the…

2152

Abstract

Purpose

Online knowledge sharing is a critical process for maintaining organisational competitive advantage. This paper aims to develop a new conceptual framework that investigates the moderating impacts of innovation on self-efficacy, extrinsic and intrinsic rewards on employees’ online knowledge sharing behaviour in public and private sector companies.

Design/methodology/approach

This research analysed 200 responses to test the moderating effects of organisational innovation on the relationship between self-efficacy and rewards and online knowledge sharing behviours. The analysis was carried out using component-based partial least squares (PLS) approach and SmartPLS 3 software.

Findings

The results reveal that self-efficacy significantly affects online knowledge sharing behaviour in firms, regardless of the organisation type. Extrinsic rewards encourage employees in private companies to share knowledge online, whereas intrinsic rewards work effectively in public companies. Additionally, the study found the moderating role of organisational innovation in examining the relationship between rewards and online knowledge sharing behaviour.

Research limitations/implications

Future research may consider different dimensions such as knowledge donating and collecting behaviours as well as motives, such as self-enjoyment, reciprocity or social interaction ties, which may be investigated to get a deeper understanding of online knowledge sharing behaviour.

Practical implications

Firms must tailor training and rewards to suit employees’ abilities and needs so as to align with organisation type and innovation.

Originality/value

The study’s distinctive contribution is the under-researched context of Vietnamese public and private sector banks for investigating the moderating effects of organisational innovation on micro and meso factors on online knowledge sharing behaviour.

Details

Journal of Knowledge Management, vol. 24 no. 6
Type: Research Article
ISSN: 1367-3270

Keywords

Open Access
Article
Publication date: 12 February 2018

Siming Liu and Len Skerratt

Since the UK Companies Act 1981, different reporting standards have developed for different classes of company to reduce the reporting burden on non-listed companies. There are…

3216

Abstract

Purpose

Since the UK Companies Act 1981, different reporting standards have developed for different classes of company to reduce the reporting burden on non-listed companies. There are now different regimes for listed, large private, medium-sized, small and micro companies. This strategy raises the issue of whether earnings quality across the different classes of company is comparable. The paper aims to discuss this issue.

Design/methodology/approach

The paper uses the smoothness of earnings to measure reporting quality across the different types of companies from 2006 to 2013, based on 514,000 observations. Smoothness is an indicator of poor quality.

Findings

The authors find that listed companies have the highest earnings quality, closely followed by small and micro companies. In contrast, large private and medium-sized companies have much lower earnings quality. Overall, the authors find companies which switch between reporting regimes have lower earnings quality. The authors also find that earnings quality is not affected by the small company exemption from audit.

Research limitations/implications

Companies filing abbreviated accounts are excluded since they do not file an income statement. The recent revisions to UK GAAP (FRS 102 and FRS 105) are not examined due to insufficient data.

Practical implications

The Financial Reporting Council’s (FRC) strategy of reducing the financial reporting and auditing obligations for small companies seems not to have significantly affected earnings quality. However, the FRC may need to review the reporting requirements of large private and medium-sized companies and also the option of companies to switch between reporting regimes; in these settings earnings quality appears to be weaker.

Originality/value

The paper studies the effect of earnings quality across the different reporting regimes in the UK. Novel and important features of the study are that the sample covers a wide variety of small and micro companies which have not been analyzed previously; the results are disaggregated by year, for assurance that the results are not driven by a single rogue year; and the authors also address the small company exemption from audit, and the flexibility of non-listed companies to switch between regimes.

Details

Journal of Applied Accounting Research, vol. 19 no. 1
Type: Research Article
ISSN: 0967-5426

Keywords

Article
Publication date: 5 October 2010

John Storm Pedersen and Jacob Dahl Rendtorff

The paper discusses the balance between values and economic efficiency in the public sector in comparison with the private sector. The argument is that the public sector, hence…

1771

Abstract

Purpose

The paper discusses the balance between values and economic efficiency in the public sector in comparison with the private sector. The argument is that the public sector, hence the public welfare service institutions, can learn much from the private service sector, hence the private service firms with regard to the relation to values, ethics, corporate social responsibility (CSR) and efficiency in order to improve the balance between values and efficiency in the public sector.

Design/methodology/approach

The paper discusses the concept of balance in relation to the development of the management of private service companies as a useful alternative to new public management (NPM). It discusses this with regard to three issues: the evolution of the management of private companies; what can the public sector, hence the public welfare institutions, learn from the evolution of management of private companies? How would it be possible for governments to work for an alternative to NPM, on the basis of the experiences of management of private companies, improving the balance between values and economic efficiency in the public sector?

Findings

It is argued that a deadlock in the development of efficiency management in the public sector, hence in the public welfare service institutions, is created. It is argued, furthermore, that this deadlock to a great extent, paradoxically, is created because of the focusing on NPM for almost two decades as the most important tool to develop efficiency management in the public sector. Finally, it is argued that the experiences in private companies regarding how to find a proper balance between values, ethics, CSR and economic efficiency can be very helpful in developing a strategy within the public sector to unlock the deadlock regarding the development of efficiency management. That is why the experiences of management of the private services companies can become a constructive alternative to the experiences of NPM in the public sector at the level of welfare institutions.

Research limitations/implications

There would be potential for more research on CSR, business ethics and values‐driven management in relation to the public sector.

Originality/value

The paper offers new insight into the relation between values, CSR and management models in the private and in the public sector.

1 – 10 of over 77000