Search results
1 – 10 of over 1000Yasean Tahat, T. Dunne, S. Fifield and D. Power
The purpose of this paper is to: examine the value relevance of financial instruments disclosure (FID) provided by Jordanian listed companies under International Financial…
Abstract
Purpose
The purpose of this paper is to: examine the value relevance of financial instruments disclosure (FID) provided by Jordanian listed companies under International Financial Reporting Standard (IFRS 7) as compared to that supplied under IAS 30/32; provide evidence about the value relevance of high vs low levels of FID; and investigate which components of FI-related information are more value relevant.
Design/methodology/approach
A sample of 70 Jordanian listed companies is used in this monograph. A disclosure index checklist was constructed to measure FI information provided by the sample companies. In addition, a valuation model is employed to test the association between FID and market value.
Findings
Although evidence is provided that FI information was value relevant over the two periods of investigation, the information supplied after the implementation of IFRS 7 was more strongly associated with market values. An analysis of the sub-components of FID reveals that the details about balance sheet, fair value and risk information matter when valuing equity. Overall, the results indicate that investors value FI-related information when making their equity pricing decisions. The result suggests that compliance with IFRS mandatory disclosure requirements does produce relevant financial statements.
Research limitations/implications
The results of the current study have a number of implications for policy makers. First, they provide a great deal of insight for the IASB about the relevance of its standards to countries outside the western context. In addition, the findings provide valuable insights for policy makers in Jordan who are concerned about the implications of mandatory disclosures.
Originality/value
The analysis of FID in developing countries in general, and in Jordan in particular, has been overlooked by the extant literature and therefore this study is the first of its kind to examine this research issue for a sample of Jordanian firms.
Details
Keywords
Emmanuel Asare, Bruce Burton and Theresa Dunne
This study explores Ghanaian views about accountability discharge by firms and government in the context of the nation's newly discovered oil and gas resources. The research…
Abstract
Purpose
This study explores Ghanaian views about accountability discharge by firms and government in the context of the nation's newly discovered oil and gas resources. The research focusses on a range of issues relating to stakeholder interaction, communication flows and the impact of decision-making on Ghanaian lives, as perceived by individuals on the ground.
Design/methodology/approach
The paper adapts elements of legitimacy theory to interpret the outcome of a series of semi-structured interviews with members of key accountee and accountor groups including citizens and representatives of the state and private firms in the oil and gas industry in Ghana.
Findings
The results indicate that rather than attempting to effect substantive accountability discharge, Ghana's government and oil and gas firms employ a wide range of legitimation strategies despite the apparently complete absence of the accountee power normally seen as driving the need for social contract repair.
Research limitations/implications
The findings suggest that accountability discharge in Ghana is cursory at best, with several legitimising strategies in evidence. The representatives from state institutions appear to share some of the concerns, suggesting that the problems are entrenched and will require robust enforcement of a strengthened regulatory approach to effect meaningful change.
Originality/value
This paper contributes to the literature on the discharge of institutional accountability by building on earlier conceptualisations of legitimacy theory to explore perceptions around a recent natural resource discovery. The analysis highlights grave concerns regarding the behaviour of state and corporate actors, one that runs counter to sub-Saharan African tradition.
Details
Keywords
Imam Arafat, Suzanne Fifield and Theresa Dunne
The current study investigates the impact of directors' attributes on the extent of compliance with International Financial Reporting Standards (IFRS) fair value disclosure…
Abstract
Purpose
The current study investigates the impact of directors' attributes on the extent of compliance with International Financial Reporting Standards (IFRS) fair value disclosure requirements. The attributes investigated include directors' human capital (accounting qualification) and social capital (political association), directors' share ownership and the power distance between the chief executive officer (CEO) and the rest of the board members.
Design/methodology/approach
The study uses disclosure analysis to measure the extent of compliance with the fair value disclosure requirements of IFRS. Ordinary least squares (OLS) regression is used to test the relationship between the disclosure score and directors' attributes. Data were collected from the annual reports and websites of the sample companies.
Findings
Contrary to conventional belief, this study's findings suggest that directors' social capital and the power distance between the CEO and the rest of the board act as more powerful factors than directors' human capital in explaining corporate mandatory disclosure. Specifically, the results indicate that powerful actors form a dominant coalition and co-opt influential constituents from the institutional domain to neutralize the effect of legal coercion and the accounting expertise of board members and Big Four audit firms on the extent of compliance with institutional (fair value) rules.
Research limitations/implications
This study utilizes Oliver's (1991) framework of strategic response to institutional processes in the Bangladeshi context. Although the study provides new insights into corporate disclosure practices, findings are not generalizable due to different institutional settings in different countries. Therefore, future studies could replicate the approach in different institutional settings.
Practical implications
The findings of this study will be of interest to the International Accounting Standards Board (IASB) as it focuses on a developing country that has adopted IFRS 13 and other fair value-related standards relatively recently.
Originality/value
The disclosure analysis contained in this study represents the first comprehensive analysis of the extent of compliance with the fair value disclosure requirements of IFRS. Furthermore, this study considers the impact of directors' social capital and finds that it is a more powerful determinant of the extent of compliance with IFRS as compared to human capital.
Details
Keywords
Ahmed H. Ahmed, Bruce M. Burton and Theresa M. Dunne
The purpose of this paper is to provide exploratory evidence about the use of the internet for disclosure purposes by non-financial companies listed on the Egyptian Exchange – and…
Abstract
Purpose
The purpose of this paper is to provide exploratory evidence about the use of the internet for disclosure purposes by non-financial companies listed on the Egyptian Exchange – and influences thereon – at two points in time: 2010 and 2011. Selection of these periods permits direct investigation of the extent to which the disruption caused by the popular uprising in early 2011 impacted on practice.
Design/methodology/approach
The sample comprises all of the 172 non-financial listed companies at the end of 2010. A disclosure index was developed to evaluate the content of the investigated websites in 2010 and 2011. Univariate and multivariate analysis is used to examine the cross-sectional determinants of disclosure both in total and in terms of three specific content categories.
Findings
The study reveals that 40.7 and 42.7 per cent of the sample companies provided some form of financial information via their websites in 2010 and 2011, respectively (i.e. pre and post the Spring 2011 political revolution). The results of the multivariate analysis indicate consistency across the two years in terms of total score determinants, but some variation in the disaggregated evidence.
Originality/value
This study indicates that Egyptian firms have started embracing the power of the internet as a disclosure channel, but the extent of these practices is still limited, with great variations evident amongst the sampled companies in this regard. Encouragingly, the disruption caused by the political upheaval in 2011 appears not to have caused reduction in the propensity to provide online disclosures.
Details
Keywords
Christine Helliar and Theresa Dunne
High profile disasters such as those experienced at Barings in 1995 and more recently at Enron and AIB Group, have resulted in increasing attention being focused on the internal…
Abstract
High profile disasters such as those experienced at Barings in 1995 and more recently at Enron and AIB Group, have resulted in increasing attention being focused on the internal control procedures of companies, in particular on the control mechanisms and processes in place in treasury departments. This paper uses interviews to investigate the internal control procedures at 11 treasury departments in the UK.
Details
Keywords
Umair Riaz, Muhammad Al Mahameed, Lisa Gentemann and Theresa Dunne
This study aims to explore how organisations use institutional language in Green Bond reports to explain and justify their activities using language that describes and reflects…
Abstract
Purpose
This study aims to explore how organisations use institutional language in Green Bond reports to explain and justify their activities using language that describes and reflects narratives while simultaneously constructing and shaping ideology. The paper mobilises Wodak and Meyer’s critical discourse analysis (CDA) to examine reports and related documentation relating to Green Bonds issued in France.
Design/methodology/approach
The study uses three legitimating discourses: technocratic, environmental and social and business performance to develop a linguistic perspective that permits contributions to existing knowledge in the area.
Findings
The analysis attempts to identify the discursive strategies used to legitimise Green Bond issuance via claims linked to environmental management improvements and business activities’ social impact.
Originality/value
The study contributes to the critical literature on organisational legitimation and responsibility, investigations of Green Bond narratives and an understanding of broader environmental reporting in the financial sector.
Details
Keywords
Ahmed H. Ahmed, Ghassan H. Mardini, Bruce M. Burton and Theresa M. Dunne
The purpose of this paper is to explore the views of 18 users and preparers regarding the corporate internet reporting (CIR) practices of companies listed on the Egyptian Stock…
Abstract
Purpose
The purpose of this paper is to explore the views of 18 users and preparers regarding the corporate internet reporting (CIR) practices of companies listed on the Egyptian Stock Exchange (EGX).
Design/methodology/approach
A decision-usefulness theoretical framework is used as a lens for the study, in order to shed light on: internet infrastructure and its use for disclosure purposes in Egypt; the benefits of and trends in practices relating to CIR in Egypt; how the information presented accords with the qualitative characteristics of “usefulness” set out in the IASB’s conceptual framework of 2010; and the potential economic consequences of CIR.
Findings
The results indicate reasonable satisfaction with internet infrastructure in Egypt. The interviewees are intensive users of the internet, including accessing electronic sources of corporate information, but the perception remains of hard copy financial reports as the most important source of disclosure. With the exception of verifiability, the majority of respondents viewed CIR as having a (potentially) positive impact on the qualitative characteristics of accounting information as set out in the IASB framework.
Research limitations/implications
The use of the interview method is subject to some limitations. These include: the perceived lack of anonymity, which may restrict the extent to which participants speak honestly or openly about the topic being investigated; the non-standardisation of responses – which can result in the inability to make systematic generalisations; and interviewees’ perceptions being influenced by events which have taken place prior to the discussion.
Practical implications
This research provides substantive insights for policy makers about the current attitudes of interested parties concerning CIR in Egypt.
Originality/value
This study contributes to our knowledge in a number of ways, as it provides up-to-date evidence of interested parties’ views concerning CIR practices and it indicates how CIR has affected the quality of financial information disclosure practices. Moreover, this study extends prior research on the use of the internet as a disclosure channel by considering a different empirical site, namely Egypt, and also by adopting a different theoretical framework.
Details
Keywords
Ahmed Hassan, Mohamed Elmaghrabi, Bruce Burton and Theresa Dunne
The purpose of this study is to provide a detailed descriptive account and analysis of corporate internet reporting (CIR) practices among non-financial companies listed on the…
Abstract
Purpose
The purpose of this study is to provide a detailed descriptive account and analysis of corporate internet reporting (CIR) practices among non-financial companies listed on the Egyptian Exchange (EGX) at two points in time – December 2010 (pre) and December 2013 (peri) political and social unrest in Egypt.
Design/methodology/approach
The study developed a disclosure index to determine the extent of CIR practices among all non-financial companies listed on the EGX in December 2010 and December 2013. The study uses ordinary least squares (OLS) regressions and isometric log-ratio transformations for compositional independent variables to empirically examine the factors affecting CIR in Egypt using a modern institutional theory lens.
Findings
The findings of this investigation suggest that listed companies in Egypt have started embracing the power of the internet as a disclosure channel, but the extent of these practices increased significantly over the investigated period, with great variations evident among the sampled companies in this regard. Such variations were chiefly dependent on the changing institutional actors over the two time frames. Additionally, the findings show that the time factor is particularly important for a given institutional field to induce a sufficient diffusion of corporate practices, especially in periods with drastic institutional change.
Practical implications
The evidence presented reflects the voluntary nature of CIR practices and the absence of a reinforced regulatory framework for organizing and monitoring such practices, with companies having discretion in terms of the amount and type of information disclosed via their websites. The results should, therefore, provide useful guidelines for regulators and standard-setters in identifying best practices, which, in turn, should allow CIR practices to become more consistent, making them easier to monitor and govern.
Originality/value
To the best of the authors’ knowledge, this is the first study that examines CIR practices at two points in time using a comprehensive disclosure index and a modern institutional theory lens.
Details
Keywords
Anup Kumar Saha, Theresa Dunne and Rob Dixon
This study aims to investigate the carbon emission disclosures (CED) and performance of UK higher educational institutions (HEIs) and the associated impact on their environmental…
Abstract
Purpose
This study aims to investigate the carbon emission disclosures (CED) and performance of UK higher educational institutions (HEIs) and the associated impact on their environmental reputation. The paper argues that HEIs possess distinct characteristics that make comparisons with profit-oriented companies problematic and misleading.
Design/methodology/approach
The green score published by the People and Planet organisation provided the population for this analysis. All universities with a 2012 score were entered into the initial sample. The association between green reputation, CED and carbon performance was examined using a robust least squared regression model. The green score published in 2019 was then compared with this to confirm whether the findings still held.
Findings
CED, carbon emissions and carbon audit were found to have highly significant determinant relationships with HEIs’ green reputation status at a 1% significance level.
Research limitations/implications
The impact of CED and carbon performance indicators needs to have a clear relationship with reputation to motivate HEIs to act and disclose.
Originality/value
The study is distinct in investigating the impact of CED and carbon performance by UK HEIs on their environmental reputation. The study shows whether, and how, the HEI CED and carbon performances contribute towards their environmental reputation. HEIs have distinct characteristics from profit-seeking organisations and thus tailored research is required.
Details
Keywords
A small-scale study was conducted to qualitatively explore the “lived experiences” of persons who remarried between the ages of 55 and 75. Improved life expectancy, high divorce…
Abstract
Purpose
A small-scale study was conducted to qualitatively explore the “lived experiences” of persons who remarried between the ages of 55 and 75. Improved life expectancy, high divorce rates, increased odds of being widowed over time, and the need for intimate relationships across the lifespan are some of the factors associated with a recent increase in remarriage rates of older adults. While demographic trends indicate that repartnering in the later years will likely become more common, little is known about remarriage in the “young-old” years.
Methodology/approach
The study included in-depth, semistructured interviews with 11 newlyweds (seven females, four males) who had remarried between the ages of 55 and 75. Word-for-word transcripts were qualitatively analyzed through a process of open coding and constant comparison to identify salient themes related to the original research question “What is the transition to remarriage experience like for adults aged 55–75?”
Findings
Five themes emerged from the analysis of participant interviews: positive orientation toward remarriage, practical/pragmatic view of the union, desire for companionship, recognition of others’ feelings, and willingness to adapt.
Research limitations/implications
The findings were salient to a small group of “young-old,” white, middle-class males and females from the Midwest and are not meant to be generalizable. The results can serve as a basis for further research and understanding of romantic relationships and repartnering across the life course.
Originality/value
This study helps to fill the gap that exists in the current literature related to romantic relationships and remarriage in the “young-old” years of life.
Details