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Book part
Publication date: 4 July 2019

Simon Grima and Sara Pavia

In this chapter our objective was to gain an understanding of what affects Maltese individuals’ behaviors when it comes to retirement planning. Given that longevity is on the…

Abstract

In this chapter our objective was to gain an understanding of what affects Maltese individuals’ behaviors when it comes to retirement planning. Given that longevity is on the increase, state pension income is limited (and most probably unsustainable over the long term) and that many individuals expect to be able to enjoy a comfortable retirement, it sets out to determine which macro- and micro-environmental factors are likely to encourage positive behavior or otherwise.

We did this by consulting and analyzing existing literature in chapter 8 of this book and designing an online survey which was specifically created to capture qualitative data about public sentiment and behaviors with respect to retirement planning.

The study identifies a general sense of confusion in relation to financial concepts related to retirement. In line with other countries’ findings, the prevalence of myopia, procrastination and inertia has also been observed through the research undertaken.

Through established behavioral finance theories and literature, as well as actual European practical examples, the research explores the best ways of “nudging” people into recognizing the importance of acting and making the right long-term financial decisions, to their own benefit and to that of society.

Notwithstanding, that overall savings of the Maltese are around the average established for Europe, the study found that savings tend to be shorter term, and therefore insignificant when considering the actual requirements for the desired quality of life at retirement. The research showed how, as with other countries, behavioral biases have been limiting people from acting or making the right choices.

Of the most prominent of behaviors, procrastination, myopia, and inertia were observed. In the local market, these seemed to stem from a sense of disorientation as to the meaning of certain concepts, how to initiate the process and which actions to take. In fact, although many did not admit it outright, respondents showed low levels of confidence in their abilities, and avoid acting out of fear that it may not be the right choice. At the same time, they would try to rationalize their lack of action by the premise that things would sort themselves out, although this is typically labeled as overconfidence, it is likely to be an attempt to feel better about their stance on the matter.

Content available
Book part
Publication date: 4 July 2019

Abstract

Details

Contemporary Issues in Behavioral Finance
Type: Book
ISBN: 978-1-78769-881-9

Article
Publication date: 27 August 2009

Maurice Murphy, Eugene McGovern and Sara Pavia

The purpose of this research is to outline in detail the procedure of remote data capture using laser scanning and the subsequent processing required in order to identify a new…

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Abstract

Purpose

The purpose of this research is to outline in detail the procedure of remote data capture using laser scanning and the subsequent processing required in order to identify a new methodology for creating full engineering drawings (orthographic and 3D models) from laser scan and image survey data for historic structures.

Design/methodology/approach

Historic building information modelling (HBIM) is proposed as a new system of modelling historic structures; the HBIM process begins with remote collection of survey data using a terrestrial laser scanner combined with digital cameras. A range of software programs is then used to combine the image and scan data.

Findings

Meshing of the point cloud followed by texturing from the image data creates a framework for the creation of a 3D model. Mapping of BIM objects onto the 3D surface model is the final stage in the reverse engineering process, creating full 2D and 3D models including detail behind the object's surface concerning its methods of construction and material makeup, this new process is described as HBIM.

Originality/value

The future research within this area will concentrate on three main stands. The initial strand is to attempt improve the application of geometric descriptive language to build complex parametric objects. The second stand is the development of a library of parametric based on historic data (from Vitruvius to 18th century architectural pattern books). Finally, while it is possible to plot parametric objects onto the laser scan data, there is need to identify intermediate software platforms to accelerate this stage within the HBIM framework.

Details

Structural Survey, vol. 27 no. 4
Type: Research Article
ISSN: 0263-080X

Keywords

Book part
Publication date: 4 July 2019

Sara Pavia and Simon Grima

The authors herein carry out a literature review of retirement planning and highlights that proper retirement planning starts by looking at the level of income an individual is…

Abstract

The authors herein carry out a literature review of retirement planning and highlights that proper retirement planning starts by looking at the level of income an individual is likely to continue receiving at retirement if they were to take no action, then comparing this to what they would need to lead the lifestyle they desire. The authors review the traditional economic theories that many are accustomed to when interpreting financial matters (i.e., rational behavior) and compares this to the various studies and articles found in literature. The authors then dig into retirement planning in Malta and the behavioral obstacles to proper planning and how these are tackled in different European countries.

Details

Contemporary Issues in Behavioral Finance
Type: Book
ISBN: 978-1-78769-881-9

Keywords

Article
Publication date: 7 December 2018

Valentina Beretta, Chiara Demartini and Sara Trucco

The integrated reporting framework seeks to connect a firm’s financial and non-financial performance in a single report by displaying how different forms of capital contribute to…

2939

Abstract

Purpose

The integrated reporting framework seeks to connect a firm’s financial and non-financial performance in a single report by displaying how different forms of capital contribute to the firm’s value creation. Drawing on impression management and incremental information approaches, the purpose of this paper is to examine how the content and semantic properties of intellectual capital disclosure (ICD) found in integrated reports is associated with firms’ performance.

Design/methodology/approach

All reports by European listed firms from 2011 to 2016 available via the integrated reporting emerging practice examples database are analysed. Content analysis is used to assesses the quality of ICDs, whereas a regression analysis tests the variation in semantic properties of ICDs according to firms’ performance.

Findings

ICDs in integrated reports are mainly discursive, with a backward looking orientation and a limited focus on human capital. On average, more than half of each ICD is conveyed in a positive tone. As the optimistic tone in firms’ ICDs increases, so too does their non-financial performance measured in terms of environmental, social and governance aspects. This finding supports the incremental information approach.

Originality/value

This paper contributes to the current literature on ICDs by introducing new evidence on firms’ motivations for non-financial disclosures in integrated reports. By taking a more comprehensive theoretical approach, namely, testing both impression management and incremental information hypotheses, this research extends on prior studies which tested similar relationships in integrated reports but focussed only on the impression management hypothesis.

Details

Journal of Intellectual Capital, vol. 20 no. 1
Type: Research Article
ISSN: 1469-1930

Keywords

Article
Publication date: 4 July 2018

Maria Chiara Demartini and Sara Trucco

The purpose of this paper is to investigate the effect of the use of subjective (objective) performance measures on relevant organisational outcomes, namely perceived managerial…

Abstract

Purpose

The purpose of this paper is to investigate the effect of the use of subjective (objective) performance measures on relevant organisational outcomes, namely perceived managerial discretion (PMD) and manager’s satisfaction with the performance measurement system (PMS). Furthermore, the paper analyses the indirect link between subjective vs objective measures and managers’ satisfaction through PMD.

Design/methodology/approach

To test the research hypotheses, a paper-based questionnaire was sent to Italian health care managers in Lombardy. Thus, a PLS-SEM analysis was performed on a data set of 97 Italian health care managers.

Findings

Empirical findings showed that objective measures are more capable of supporting the managerial perception of discretion when compared to more subjective ones such as “fads” and “fashions”, and that managers are more satisfied with the PMS when it is grounded on objective measures rather than subjective ones.

Originality/value

The paper operationalizes and empirically tests the measure of PMD, linking this to antecedents and consequences. It also extends the literature on subjectivity in the PMS, since it develops new knowledge on the choice between subjective and objective measures by applying this choice to a variety of PMS, whereas prior literature on objective vs subjective measures has mainly focussed on performance evaluation.

Open Access
Article
Publication date: 14 November 2022

Sara Trucco, Maria Chiara Demartini, Kevin McMeeking and Valentina Beretta

This paper aims to investigate the effect of voluntary non-financial reporting on the evaluation of audit risk from the auditors’ viewpoint in a post-crisis period. Furthermore…

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Abstract

Purpose

This paper aims to investigate the effect of voluntary non-financial reporting on the evaluation of audit risk from the auditors’ viewpoint in a post-crisis period. Furthermore, this paper analyses whether auditors perceive that voluntary non-financial reporting impacts audit risk differently for old clients as compared with new clients.

Design/methodology/approach

This study is conducted on a sample of Italian audit firms through a paper-based questionnaire. Both Big4 and non-Big4 audit firms have been included in the sample.

Findings

Results show that integrated reporting is perceived to be the most relevant reporting method and intellectual capital statement the least relevant. Surprisingly, empirical findings over the sample period show that auditors do not perceive statistically significant differences between old and new clients.

Practical implications

Auditors can identify opportunities to adapt their assessment model to include voluntary non-financial report information. Moreover, they can use different assessment models regarding the research variables in the case of new and old clients.

Originality/value

Empirical findings highlight the growing role of voluntary non-financial reporting in the auditors’ perception of their client’s audit risk. All the observed voluntary non-financial reporting forms, except for intellectual capital, are considered as relevant by auditors in the evaluation of their client’s audit risk when compared to an indifference point. In addition, findings reveal that female auditors perceive a reduced gap in the relevance between integrated reports and intellectual capital reports compared to their counterparts.

Details

Meditari Accountancy Research, vol. 30 no. 7
Type: Research Article
ISSN: 2049-372X

Keywords

Open Access
Book part
Publication date: 2 October 2023

Federica Sacco and Giovanna Magnani

In recent years, both academics and institutions have acknowledged the crucial role multinational enterprises (MNEs) can play in addressing the sustainability challenges, as…

Abstract

In recent years, both academics and institutions have acknowledged the crucial role multinational enterprises (MNEs) can play in addressing the sustainability challenges, as formalized by the sustainable development goals (SDGs). Nevertheless, because of their extensiveness and their design as country-level targets, SDGs have proven challenging to operationalize at a firm level. This problem opens new and relevant avenues for research in international business (IB). This chapter attempts to frame the topic of extended value chain sustainability in the IB literature. In particular, it addresses a specific topic, that is, how sustainability and resilience-building practices interact in global value chains (GVCs). To do so, the present study develops the case of STMicroelectronics (ST), one of the biggest semiconductor companies worldwide.

Details

Creating a Sustainable Competitive Position: Ethical Challenges for International Firms
Type: Book
ISBN: 978-1-80455-252-0

Keywords

Article
Publication date: 17 June 2021

Ruggero Giuliani, Sara Mazzilli, Teresa Sebastiani, Giorgia Cocca, Raffaella Bortolotti, Cristina Cairone, Giuditta Scardina, Guglielmo Arzilli, Lara Tavoschi and Roberto Ranieri

Early on in the COVID-19 pandemic, the scientific community highlighted a potential risk of epidemics occurring inside prisons. Consequently, specific operational guidelines were…

Abstract

Purpose

Early on in the COVID-19 pandemic, the scientific community highlighted a potential risk of epidemics occurring inside prisons. Consequently, specific operational guidelines were promptly released, and containment measures were quickly implemented in prisons. This paper aims to describe the spread of COVID-19 in detention facilities within the Lombardy region of Italy during March to July 2020, and the impact of the prevention and control measures implemented.

Design/methodology/approach

A descriptive retrospective analysis of case distribution was performed for all COVID-19 cases identified among people in detention (PiD) and prison officers (POs). A comparison of the epidemic burden affecting different populations and a correlation analysis between the number of cases that occurred and prevention measures implemented were also carried out.

Findings

From this study, it emerged that POs were at a high risk of contracting COVID-19. This study observed a delay in the occurrence of cases among PiD and substantial heterogeneity in the size of outbreaks across different prisons. Correlation between reported cases among PiD and registered sick leave taken by POs suggested the latter contributed to introducing the infection into prison settings. Finally, number of cases among PiD inversely correlated with the capacity of each prison to identify and set up dedicated areas for medical isolation.

Originality/value

Prevention and control measures when adopted in a timely manner were effective in protecting PiD. According to the findings, POs are a population at high risk for acquiring and transmitting COVID-19 and should be prioritized for testing, active case finding and vaccination. This study highlights the critical importance of including prison settings within emergency preparedness plans.

Details

International Journal of Prisoner Health, vol. 17 no. 3
Type: Research Article
ISSN: 1744-9200

Keywords

Article
Publication date: 24 September 2021

Linda Montanari, Robert Teltzrow, Sara Van Malderen, Roberto Ranieri, José Antonio Martín Peláez, Liesbeth Vandam, Jane Mounteney, Alessandro Pirona, Fadi Meroueh, Isabelle Giraudon, João Matias, Katerina Skarupova, Luis Royuela and Julien Morel d’Arleux

This paper aims to describe the impact of the COVID-19 containment measures on the provision of drug treatment and harm reduction services in European prisons in15 countries…

Abstract

Purpose

This paper aims to describe the impact of the COVID-19 containment measures on the provision of drug treatment and harm reduction services in European prisons in15 countries during the early phase of the pandemic (March –June 2020).

Design/methodology/approach

The paper is based on a mixed method research approach that triangulates different data sources, including the results of an on-line survey, the outcome of a focus group and four national case studies.

Findings

The emergence of COVID-19 led to a disruption in prison drug markets and resulted in a number of challenges for the drug services provision inside prison. Challenges for health services included the need to maintain the provision of drug-related interventions inside prison, while introducing a range of COVID-19 containment measures. To reduce contacts between people, many countries introduced measures for early release, resulted in around a 10% reduction of the prison population in Europe. Concerns were expressed around reduction of drug-related interventions, including group activities, services by external agencies, interventions in preparation for release and continuity of care.

Practical implications

Innovations aimed at improving drug service provision included telemedicine, better partnership between security and health staff and an approach to drug treatment more individualised. Future developments must be closely monitored.

Originality/value

The paper provides a unique and timely overview of the main issues, challenges and initial adaptations implemented for drug services in European prisons in response to the COVID-19 pandemic.

Details

International Journal of Prisoner Health, vol. 17 no. 3
Type: Research Article
ISSN: 1744-9200

Keywords

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