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Contingent Valuation: A Critical Assessment
Type: Book
ISBN: 978-1-84950-860-5

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Contingent Valuation: A Critical Assessment
Type: Book
ISBN: 978-1-84950-860-5

Abstract

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Modelling the Riskiness in Country Risk Ratings
Type: Book
ISBN: 978-0-44451-837-8

Article
Publication date: 10 February 2018

Jörn Obermann and Patrick Velte

This systematic literature review analyses the determinants and consequences of executive compensation-related shareholder activism and say-on-pay (SOP) votes. The review…

Abstract

This systematic literature review analyses the determinants and consequences of executive compensation-related shareholder activism and say-on-pay (SOP) votes. The review covers 71 empirical articles published between January 1995 and September 2017. The studies are reviewed within an empirical research framework that separates the reasons for shareholder activism and SOP voting dissent as input factor on the one hand and the consequences of shareholder pressure as output factor on the other. This procedure identifies the five most important groups of factors in the literature: the level and structure of executive compensation, firm characteristics, corporate governance mechanisms, shareholder structure and stakeholders. Of these, executive compensation and firm characteristics are the most frequently examined. Further examination reveals that the key assumptions of neoclassical principal agent theory for both managers and shareholders are not always consistent with recent empirical evidence. First, behavioral aspects (such as the perception of fairness) influence compensation activism and SOP votes. Second, non-financial interests significantly moderate shareholder activism. Insofar, we recommend integrating behavioral and non-financial aspects into the existing research. The implications are analyzed, and new directions for further research are discussed by proposing 19 different research questions.

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Journal of Accounting Literature, vol. 40 no. 1
Type: Research Article
ISSN: 0737-4607

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Economic Growth and Social Welfare: Operationalising Normative Social Choice Theory
Type: Book
ISBN: 978-0-44451-565-0

Article
Publication date: 1 December 2000

G.G. Chowdhury and Sudatta Chowdhury

A number of digital libraries have been set up in the course of various research and development activities in different parts of the world during the last few years. How…

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Abstract

A number of digital libraries have been set up in the course of various research and development activities in different parts of the world during the last few years. How do these digital libraries fair in terms of information retrieval features? This paper looks into this question by reviewing the information retrieval features of 20 digital libraries chosen from around the globe. The first part of the paper briefly describes the features of the chosen digital libraries in terms of their nature and content. The second part looks into the information retrieval features of each digital library. Unique features of some digital libraries have been indicated. Major areas of research that would improve the information retrieval features of the future digital libraries have been indicated.

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Program, vol. 34 no. 4
Type: Research Article
ISSN: 0033-0337

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Article
Publication date: 13 July 2019

Daniel A. Street and Dana R. Hermanson

This paper reviews academic literature related to the consequences that outside directors and boards may face in the wake of earnings restatements and suggests directions…

Abstract

This paper reviews academic literature related to the consequences that outside directors and boards may face in the wake of earnings restatements and suggests directions for future research. We examine loss of board seats; recruitment of new directors; proxy recommendations and shareholder support; pre-emptive director departures; director wealth effects; director reputation, litigation, and sanction risks; international evidence; and legal proposals for reform. The overall picture that emerges from the literature is that directors’ primary risk in the wake of earnings restatements is loss of board seats, in part through adverse proxy advisor recommendations and reduced shareholder support. Directors typically face little risk of legal liability or SEC sanctions, and some directors pre-emptively leave a problem company’s board and reduce their loss of interlocked board seats. Some legal scholars have called for director liability to be increased so as to promote more vigilant board oversight. Companies often focus on increasing the independence of the board in the wake of a restatement in an effort to repair organizational reputation. While researchers have revealed a host of important findings to date, much more can be learned about the effects of restatements on outside directors and boards.

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Journal of Accounting Literature, vol. 43 no. 1
Type: Research Article
ISSN: 0737-4607

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Article
Publication date: 25 August 2017

Candice T. Hux

This synthesis covers academic research on the use of valuation, tax, information technology (IT), and forensic specialists on audit engagements. The importance and role…

Abstract

This synthesis covers academic research on the use of valuation, tax, information technology (IT), and forensic specialists on audit engagements. The importance and role of specialists on audit engagements have recently increased, and specialist use has garnered significant attention from regulators and academics. Given the PCAOB’s (2017b) recent proposal to revise auditing standards regarding specialists’ involvement, it is important to review the specialist literature as a whole. By integrating research across these four domains, I identify commonalities and differences related to: (1) factors associated with the use of specialists on audit engagements (including the nature, timing, and extent of use); (2) factors impacting auditors’ interactions with specialists (including specialists contracted by the auditor or management); and (3) outcomes associated with the use of specialists. This integrated analysis of the specialist literatures shows variation in the use of specialists, and various factors affecting both if and how they are involved and whether auditors use specialists internal or external to the audit firm. Additionally, research has sometimes (but not always) linked specialist involvement to higher audit quality. The commonalities and areas of variation identified are informative to audit research and practice, particularly as regulators and audit firms look to improve the quality of audits using specialists. Throughout the synthesis, I also provide a number of directions for future research.

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Journal of Accounting Literature, vol. 39 no. 1
Type: Research Article
ISSN: 0737-4607

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Article
Publication date: 1 January 1988

Franco F. Ferrario

‐ One of the consequences of the present long period of economic depression, which has been felt with particular severity by most Third World countries, has been a…

Abstract

‐ One of the consequences of the present long period of economic depression, which has been felt with particular severity by most Third World countries, has been a necessary critical reassessement of many development strategies. Especially in Africa, the balance sheet between efforts and results has not been very encouraging. The massive industrialization programmes and the large projects of the last three decades have neither helped to achieve a more competitive production nor have introduced widespread prosperity, as hoped. Gradually the accent is now shifting toward new “soft options”, one of which is tourism. We remember that only 15–20 years ago many African governments or international development agencies were still considering tourism as a marginal economic activity, to be left to poor nations without much prospects for industrialization. Since then much has changed and ‐ especially in the present post‐industrial economies ‐ tourism and the whole gamut of other leisure industries have become one of the most dynamic fields of expansion, even in the developing world.

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The Tourist Review, vol. 43 no. 1
Type: Research Article
ISSN: 0251-3102

Article
Publication date: 1 March 1984

Jafar Jafari

Fieldwork is one of the hallmarks of anthropology. Almost all students of anthropology have geographical and cultural specializations, ranging from a small group to a…

Abstract

Fieldwork is one of the hallmarks of anthropology. Almost all students of anthropology have geographical and cultural specializations, ranging from a small group to a nation. Their interest areas are often identified or marked by real or putative boundaries; and it is within these boundaries that anthropologists have “founded” their own villages and tribes — “my village”, “my tribe.”

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The Tourist Review, vol. 39 no. 3
Type: Research Article
ISSN: 0251-3102

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