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This study investigates the impact of environmental influences, particularly a secretive aspect of Chinese culture, on voluntary corporate disclosure practices. Evidence…
This study investigates the impact of environmental influences, particularly a secretive aspect of Chinese culture, on voluntary corporate disclosure practices. Evidence is provided of the similarly low level of voluntary disclosure by Hong Kong (HK) and Singaporian listed industrial companies. Further, a comparative analysis with prior research on UK/US companies indicates that the extent of voluntary disclosure by HK and Singaporian companies is lower overall. However, while this finding applies to both financial and nonfinancial information, it is not so in the case of strategic information for HK companies.
In an era when expatriates are increasingly used as strategic conduits for developing capabilities in local business units, we identify what and how host-country nationals…
In an era when expatriates are increasingly used as strategic conduits for developing capabilities in local business units, we identify what and how host-country nationals in a developing economy learn from self-initiated expatriates whose assignments focus on organizational capacity development objectives.
Semi-structured interviews with 23 Vietnamese host-country nationals rendered a sample of 138 learning episodes for qualitative content analysis. Respondents were employed in Vietnamese government and non-government organizations and worked closely with multiple self-initiated expatriates in a variety of professional contexts.
Host-country nationals develop a broad array of primarily “soft” capabilities. This learning is typically informal and vicarious in nature. While learning tends to arise incidentally through day-to-day activities, host-country nationals facilitate this by structuring their formal and informal interactions with expatriates to maximize their learning potential.
While the study's exploratory design and specific context limit the transferability of our results, analysis of a sample of specific learning episodes allowed us to map “hotspots” of particular activities and contexts in which certain learning outcomes transpired.
Our results put into sharp focus the overlooked roles of expatriates as models (to be observed), mentors (to be consulted) and collaborators (to be partnered with) who can catalyse valued learning opportunities for local colleagues.
We provide a comprehensive account of the nature and extent of informal learning that host-country nationals accumulate during interactions with expatriates, and so contribute to a more nuanced understanding of the experiences of host-country nationals in international business.
Our aim is to investigate the quality of segment disclosures by companies in Brazil, Russia, India and China (known as the BRIC economies) that are expanding their…
Our aim is to investigate the quality of segment disclosures by companies in Brazil, Russia, India and China (known as the BRIC economies) that are expanding their operations internationally, and in so doing to assess the extent of convergence with globally recognized standards, that is, International Financial Reporting Standards (IFRS).
We examine the financial statements and narrative information provided by the largest BRIC companies. We carry out a content analysis and also apply multivariate regression techniques to evaluate if key firm-specific factors are associated with the number of operating and geographic segments disclosed.
Our results show that the extent of disclosure by the majority of BRIC companies is of a high standard taking into account both quantitative and narrative data. The disclosure of operating segments is commonly based on business lines though most companies also report additional geographic information. As expected, operating segment disclosures are positively associated with the extent of internationalization (percentage of foreign sales) and majority state ownership.
We have examined only the largest companies in each BRIC country and so there are limitations regarding the generalizability of our results. Future research could usefully examine the practices of a wider range of companies within each of the BRIC countries. This could also be extended to a study of disclosure behaviour in other emerging economies.
Our study provides new evidence concerning the quality of corporate financial reporting in the BRIC economies with special reference to a comparative international analysis of the segment disclosure practices of major BRIC companies expanding internationally.
This study investigates the usefulness of net value added in explaining stock returns of a sample of US firms. The results provide evidence that current and past levels of…
This study investigates the usefulness of net value added in explaining stock returns of a sample of US firms. The results provide evidence that current and past levels of net value added or current and past levels of changes in net value added are associated with stock returns. A case may be made for the disclosure of value added information by US firms.
This study explores the teaching of International Accounting on both undergraduate and postgraduate degrees in New Zealand in New Zealand's polytechnic and university…
This study explores the teaching of International Accounting on both undergraduate and postgraduate degrees in New Zealand in New Zealand's polytechnic and university sectors. Included in the study is an analysis of course outlines of international accounting courses from business and commerce faculties of the New Zealand tertiary sector. The paper compares the teaching of international accounting in New Zealand with that of the United Kingdom, Australia and the US. Results suggest that even though international accounting issues have been given significant prominence in accounting research as of late, there is a paucity of International Accounting education offered to New Zealand accounting students including in comparison with the UK, Australia and the US. Through our analysis and discussion we seek to engender a more critical review of international accounting education.
Profit forecasts are rarely disclosed in the UK except in prospectuses, circulars and during takeover bids. There are few regulations governing the content of profit…
Profit forecasts are rarely disclosed in the UK except in prospectuses, circulars and during takeover bids. There are few regulations governing the content of profit forecasts. Under stock exchange rules these forecasts must be reported on by both reporting accountants and the merchant bankers advising on the deal. The format of the forecasts is at the discretion of individual companies. This paper summarises the regulations, including professional pronouncements, governing accountants’ reports on profit forecasts. Practical examples of such accountants’ reports extracted from 250 profit forecasts published during 701 UK takeover bids in the period 1988 to 1992 are reproduced and discussed. These examples provide useful precedent material for practitioners involved in reporting on a profit forecast. The paper concludes with a discussion of policy issues and suggestions for policy makers.
Outlines the valuation models of Ohlson (1995) and Feltham and Ohlson (1995), which relate share prices to accounting data, and develops a version which substitutes net…
Outlines the valuation models of Ohlson (1995) and Feltham and Ohlson (1995), which relate share prices to accounting data, and develops a version which substitutes net value added for earnings. Tests it on 1978‐1995 US data and shows that it is better than the conventional model at explaining price. Recommends that future capital market research should consider net value added as an alternative to earnings for wealth measurement.
The objective of this paper is to investigate how disclosure informativeness of U.S. multinational corporations varies with the informativeness of numbers produced by…
The objective of this paper is to investigate how disclosure informativeness of U.S. multinational corporations varies with the informativeness of numbers produced by their financial accounting systems. We predict that firms whose current accounting numbers do not capture well the effects of the firm's current activities and outcomes on shareholder value proxied by earnings timeliness will institute better disclosure systems and improve their disclosure informativeness to compensate for their less informative accounting numbers. Disclosure informativeness is measured by analyst ratings of corporate disclosures provided in the annual volumes of the Report of The Financial Analysts Federation Corporate Information Committee. The informativeness of accounting numbers is proxied by the timeliness of earnings. We investigate whether the analysts' ratings vary with the timeliness of earnings by examining the cross‐sectional relation between properties of earnings timeliness and subsequent analyst ratings of corporate disclosure of 100 firms included in FORBES' survey of the largest U.S. multinationals. The results support a significant negative relation between the timeliness metrics and subsequent values of disclosure informativeness after controlling for other firm characteristics.