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Article
Publication date: 23 September 2021

Ika Permatasari, Ika Permatasari and I Made Narsa

This research is motivated by the development of dialogue and debate regarding company reporting in the form of sustainability reporting (SR) – which is separate from the…

Abstract

Purpose

This research is motivated by the development of dialogue and debate regarding company reporting in the form of sustainability reporting (SR) – which is separate from the annual report (AR) – or integrated reporting (IR). Research into SR and IR is still fascinating, and this study addresses the debate about them. This study aims to examine which of the two reports is more valuable for investors, and also examine whether IR has value relevance because the information in the IR could reinforce the importance of the accounting information.

Design/methodology/approach

As with previous studies, we adopted a valuation approach – the Ohlson model – to assess the value relevance of non-financial information (in the form of SR/IR) and financial information. As a preliminary study, we used non-financial information as a binary variable, i.e. a group of companies that issue sustainability reports and a group of companies that issue integrated reports. Therefore, they complement and interact with the financial statements’ information. This paper used panel data consisting of 931 firm-years of SR issuers and 922 firm-years of IR issuers in Europe and Africa in the period from 2005 to 2019.

Findings

The results showed that SR had a higher value relevance than IR. However, when the authors interact the corporate reporting form with the accounting information, IR had value relevance because the information contained in the IR could reinforce the importance of the accounting information.

Practical implications

This study will support regulators in various countries to monitor the reporting practices of companies in those countries. The results of this study provide evidence that sustainability reports get a higher response than integrated reports. However, when interacted with the accounting variables, information in the IR is considered to be more relevant than that found in the SR. Therefore, it is hoped that the results of this study will help the International Integrated Reporting Council (IIRC) in reviewing IR practices around the world so that the implementation of IR practices can be realized in accordance with the mission that the IIRC wants to achieve.

Originality/value

Research into the value relevance of SR and IR has been carried out by several previous researchers separately, but to the best of the author’s knowledge, there are no studies comparing the value relevance of the two.

Details

Journal of Accounting & Organizational Change, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1832-5912

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Article
Publication date: 1 October 2000

Howard Greisdorf and Amanda Spink

We discuss results from recent relevance research with implications for information professionals. Our studies show that beyond the usual concern with high relevance and…

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Abstract

We discuss results from recent relevance research with implications for information professionals. Our studies show that beyond the usual concern with high relevance and non‐relevance judgements, that partially relevant judgements by users are important. We call for the adoption of a more complex view of human relevance judgements in the education and practice of information professionals.

Details

Online Information Review, vol. 24 no. 5
Type: Research Article
ISSN: 1468-4527

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Article
Publication date: 13 August 2021

Anubha Srivastava and Harjum Muharam

The authors aim to examine the association between earnings and book values with stock prices in India during the IFRS convergence period because, in India, the literature…

Abstract

Purpose

The authors aim to examine the association between earnings and book values with stock prices in India during the IFRS convergence period because, in India, the literature is yet to investigate more about IFRS convergence and its impact on the financial reporting environment. Hence, the purpose of this study is to assess the influence of IFRS conversion on the value relevance of accounting information throughout the IFRS conversion period.

Design/methodology/approach

The current paper endeavors to investigate the earnings and book values affiliation with stock prices in India during the IFRS convergence period by employing a price valuation model (Ohlson’s Model). The study assembled a total of 3,440 firm-year observations from the National Stock Exchange in India over five years, which signifies the IFRS conversion period (2015–2019).

Findings

The research findings displayed that accounting information such as earnings, book value has value relevance throughout the IFRS enforcement period; however, the value relevance has been increasing for earnings and showing a descending association for book value. The significant explanatory power of earnings reveals that market participants give more weightage to earnings than book values. Overall, the findings of the study will facilitate improved decision making for both, capital market participants and regulators, by highlighting the key areas for improvement in the Indian capital market.

Research limitations/implications

This study also extends a discussion on the subject in those economies where regulations are weak and the market is imperfect with asymmetrical information.

Practical implications

The research outcome provides for empirical shreds of evidence regarding the value relevance of accounting information during IFRS enforcement in India, where IFRS is a recent emergence.

Social implications

This paper examines the value relevance of accounting information during IFRS convergence period in India which will felicitate improved decision making for both, market regulators and investors.

Originality/value

This research is the first factual documentation regarding value relevance of earnings and book value during the IFRS enforcement process in India with the most recent data and contributes to the limited study conducted in developing nations like India.

Details

Journal of Financial Reporting and Accounting, vol. 19 no. 5
Type: Research Article
ISSN: 1985-2517

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Book part
Publication date: 28 September 2020

Mary A. Malina and Basil P. Tucker

Purpose – The authors investigate the interpretations of senior university decision-makers on three questions: (1) What constitutes “relevant” research? (2) In what ways…

Abstract

Purpose – The authors investigate the interpretations of senior university decision-makers on three questions: (1) What constitutes “relevant” research? (2) In what ways is the relevance of research typically measured? and (3) What alternative ways might be adopted in measuring the relevance of research?

Design/methodology/approach – This exploratory study adopts an inductive approach, informed by data collected from semi-structured interviews with senior research-related university leaders and archival sources in five Australian and eight US universities.

Findings – There is considerable convergence in the conceptualization as well as the operationalization of the notion of relevance between the Australian and US universities participating in this study. The evidence supports a relational rather than currently prevailing transactional approaches in operationalizing the concept of research relevance. This relational approach emphasizes the importance of stakeholders, their needs and expectations, and their engagement in the articulation of measures that demonstrate the relevance of research in both the short and longer terms.

Research limitations/implications – The evidence is primarily based on the views of university senior management drawn from a relatively small number of universities leading to questions about the representativeness and generalizability of the findings. Moreover, the findings have been informed by leaders at the most senior hierarchical levels. Although consistent with the aim of the study, the views of university leaders provide only one view on our research questions.

Originality/value – The authors provide a conceptual view of research relevance from the perspective of one pivotal group – university senior management – that has been largely and surprisingly overlooked in discussions of the relevance of academic research.

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Book part
Publication date: 27 October 2014

Simonne Vermeylen

This paper proposes to rethink the concepts of relevance and usefulness and their relation to the theory–practice gap in management research.

Abstract

Purpose

This paper proposes to rethink the concepts of relevance and usefulness and their relation to the theory–practice gap in management research.

Methodology/approach

On the basis of the cognitive-linguistic relevance theory or inferential pragmatics, supplemented by insights from information science, we define relevance as a general conceptual category, while reserving usefulness for the instrumental application in a particular case.

Findings

There is no reason to hold onto the difference between theoretical and practical relevance, nor to distinguish between instrumental and conceptual relevance.

Originality/value

This novel approach will help to clarify the confusion in the field and contribute to a better understanding of the added value of management research.

Details

A Focused Issue on Building New Competences in Dynamic Environments
Type: Book
ISBN: 978-1-78441-274-6

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Book part
Publication date: 27 January 2014

Tatiana A. Garanina and Polina S. Kormiltseva

The purpose of this study is to empirically examine the influence of International Financial Reporting Standards (IFRS) adoption by Russian public companies on the value…

Abstract

Purpose

The purpose of this study is to empirically examine the influence of International Financial Reporting Standards (IFRS) adoption by Russian public companies on the value relevance of financial reporting in Russia.

Design/methodology/approach

We selected 67 Russian public companies that reported both under Russian Accounting Standards (RAS) and IFRS for four consecutive years (2006–2009).

Research limitations

The main limitation of the chapter is the sample, but this can be explained by the fact that only 67 companies in Russia report under the two standards (RAS and IFRS). So the sample could not be increased as there were no other companies that fulfilled the characteristics of the sample.

Findings

The results obtained show that on the Russian market there is no evidence of increased value relevance of financial reporting to external users of financial information after adopting IFRS when comparing and evaluating the two regimes (RAS and IFRS) unconditionally. Such results can be explained by the notion of mock compliance which originated due to the institutional differences between the RAS and IFRS development environments.

Originality/value

Adoption of IFRS by companies in emerging markets has been a subject of interest for lots of researchers, but this is the first research of its kind in the field of value relevance of adoption of IFRS on the Russian market.

Details

Accounting in Central and Eastern Europe
Type: Book
ISBN: 978-1-78190-939-3

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Book part
Publication date: 25 March 2019

Jeffrey R. Albrecht and Stuart A. Karabenick

The idea that education should be made relevant to students is long-standing and pervasive in American society. Recently, motivation scientists have clarified important…

Abstract

The idea that education should be made relevant to students is long-standing and pervasive in American society. Recently, motivation scientists have clarified important characteristics of students’ relevance beliefs, ways to intervene, and individual characteristics moderating intervention effects. Yet, there has been little consideration of the role of situational constraints and sociocultural influences on students’ relevance appraisal processes. We describe how societal changes and broader educational purposes affect the issues that students consider to be relevant to their educational experiences and the values they subsequently attribute to their studies. After differentiating components of relevance and highlighting ways in which particular components may be influenced by changing sociocultural milieus, we consider the implications of these processes for the development of subjective task value beliefs. Specifically, we show how the proposed model of relevance helps to parse out aspects of relevance appraisals that can be used to differentiate between components of subjective task value and argue that there is need to expand current models proposed in expectancy-value theory (EVT). Finally, we explore how recent global events may impact the social construction of educational relevance and constrain students’ developing beliefs about the value of their educational opportunities and implications for future research and educators.

Details

Motivation in Education at a Time of Global Change
Type: Book
ISBN: 978-1-78754-613-4

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Article
Publication date: 29 June 2021

Pooja Kumari and Chandra Sekhar Mishra

This paper aims to examine the impact of the intangible intensity of the firm on the relevance of research and development (R&D) information to determine equity values in…

Abstract

Purpose

This paper aims to examine the impact of the intangible intensity of the firm on the relevance of research and development (R&D) information to determine equity values in India. Additionally, the study compares the association of input information on R&D investment (the reported R&D cost) and output information on R&D investment (patent count) with equity values. Further, the study also examines the operational nature of the firm and patent count, which is the better proxy to measure the intangible intensity of the firm.

Design/methodology/approach

The authors compared the explanatory power of R&D information between intangible and non-intangible intensive firms. To estimate the value relevance of R&D information, the authors followed the statistical model based on the theoretical framework of the residual income model.

Findings

The results indicate that there is a significant moderating impact of the intangible intensity of the firm on the relevance of R&D information to determine equity values in India over the 25 years study period (from 1991 to 2016). Further, in India, the study finds that the input information of R&D outlay is more relevant than output information on R&D outlay to determine equity values, irrespective of the proxy measure of intangible intensity. Moreover, the study finds that the operational nature of the firm is a better proxy of the intangible intensity of the firm compared to patent counts.

Research limitations/implications

In this study, pooled cross-sectional data were used for analysis. In the future, longitudinal and panel data can be used for more insightful results.

Practical implications

The findings of the study provide direction to investors and creditors to find the intrinsic value of the investments in internally developed intangible assets, which will reduce the asymmetry between the market value and accounting value of equity.

Originality/value

The paper offers insights into the impact of intangible intensity on the relevance quality of R&D information in an emerging country.

Details

Journal of Applied Accounting Research, vol. 22 no. 5
Type: Research Article
ISSN: 0967-5426

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Book part
Publication date: 30 November 2006

Tefko Saracevic

In vol. 6, 1976, of Advances in Librarianship, I published a review about relevance under the same title, without, of course, “Part I” in the title (Saracevic, 1976). [A…

Abstract

In vol. 6, 1976, of Advances in Librarianship, I published a review about relevance under the same title, without, of course, “Part I” in the title (Saracevic, 1976). [A substantively similar article was published in the Journal of the American Society for Information Science (Saracevic, 1975)]. I did not plan then to have another related review 30 years later—but things happen. The 1976 work “attempted to trace the evolution of thinking on relevance, a key notion in information science, [and] to provide a framework within which the widely dissonant ideas on relevance might be interpreted and related to one another” (ibid.: 338).

Details

Advances in Librarianship
Type: Book
ISBN: 978-1-84950-007-4

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Book part
Publication date: 29 November 2019

Hans Erik Bugge

This chapter discusses the focus of learning in lesson study research in initial teacher education. Whose learning should be considered in lesson study cycles? The…

Abstract

This chapter discusses the focus of learning in lesson study research in initial teacher education. Whose learning should be considered in lesson study cycles? The learning of the student-teachers, the learning of the pupils or both? Relevance theory implies that meaningful interaction develops as a consequence of the heuristic interplay between the communicative and the cognitive principles of relevance, that is, the dynamics of any given interaction create meaning as the interactional process unfolds and relevance is maximised. The participants in the interaction at hand will thus create the best solution in any given set of circumstances. They will subconsciously strive towards the most relevant outcome of their interaction, which equals maximisation of relevance irrespective of the quality of the outcome. This approach will be used to discuss the role of the student-teachers and the pupils in learning processes and lesson study cycles. The student-teachers influence the interactional process from the point of view of the communicative principle of relevance, and the pupils influence the interactional process from the point of view of the cognitive principle of relevance. These dynamics will also have a bearing on the unfolding of the lesson study cycle, and consequently imply that lesson study research should take into account the learning of both the student-teachers and the pupils from the point of view of collaborative learning and reflective practices.

Details

Lesson Study in Initial Teacher Education: Principles and Practices
Type: Book
ISBN: 978-1-78756-797-9

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