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Article
Publication date: 31 December 2020

Internal control quality and voluntary disclosure: does CEO duality matter?

Hichem Khlif, Khaled Samaha and Ines Amara

The authors examine the association between internal control quality (ICQ) and voluntary disclosure and test whether chief executive officer (CEO) duality, as a proxy for…

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Abstract

Purpose

The authors examine the association between internal control quality (ICQ) and voluntary disclosure and test whether chief executive officer (CEO) duality, as a proxy for CEO structural power, moderates such a relationship in an emerging market (Egypt).

Design/methodology/approach

ICQ is measured using a survey of external auditors, while a content analysis approach is used to measure the level of voluntary disclosure in annual reports.

Findings

Based on a sample of 512 firm-year observations over the period of 2007–2014, the authors document that ICQ is positively and significantly associated with voluntary disclosure, suggesting that better controls improve corporate reporting policy. In addition, CEO duality moderates the association between ICQ and voluntary disclosure since this positive relationship association becomes insignificant for companies characterised by CEO duality. These results remain stable after controlling for endogeneity (self-selection problem), political instability and industry characteristics.

Research limitations/implications

The findings of the study provide preliminary evidence on the association between ICQ and voluntary disclosure, and how CEO structural power may affect this association. Future empirical investigations may extend this work to cover the relationship between ICQ and other attributes of corporate transparency including earnings quality and accounting conservatism.

Practical implications

The findings highlight the need for Egyptian regulators to enact new rules obliging firms to communicate information about ICQ or charging auditors to report information about firm's ICQ in their reports. The results also alert policymakers about the adverse effect of combined leadership structure (CEO duality) since it mitigates the positive impact of ICQ on voluntary disclosure.

Originality/value

The authors contribute to internal control literature by exploring the association between ICQ and voluntary disclosure on an emergent unregulated market with respect to internal control disclosure. They also highlight how CEO duality, as a proxy for CEO power, mitigates the beneficial effect of ICQ on corporate reporting policy on the Egyptian stock exchange (EGX).

Details

Journal of Applied Accounting Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
DOI: https://doi.org/10.1108/JAAR-06-2020-0114
ISSN: 0967-5426

Keywords

  • Voluntary disclosure
  • ICQ
  • CEO duality
  • Egypt

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Article
Publication date: 23 June 2020

The role of agency costs in the voluntary adoption of XBRL-based financial reporting

Mehdi Khedmati, Farshid Navissi, Mohammed Aminu Sualihu and Zakiya Tofik-Abu

The purpose of this paper is to examine whether and how firm's agency costs played a role in the voluntary adoption of the eXtensible Business Reporting Language (XBRL…

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Abstract

Purpose

The purpose of this paper is to examine whether and how firm's agency costs played a role in the voluntary adoption of the eXtensible Business Reporting Language (XBRL) under the SEC's voluntary filing program (VFP) that encouraged the voluntary adoption of the XBRL.

Design/methodology/approach

This study employs a logistics regression and a sample of 140 firms that voluntarily participated in the VFP during its entire existence in the United States, and 140 matched-pair counterparts that did not voluntarily adopt the XBRL to investigate the role of agency costs in the voluntary adoption of XBRL-based financial reporting.

Findings

We find evidence consistent with the conjecture that a firm's low magnitude of agency costs plays a significant motivating role in the voluntary adoption of XBRL-based financial reporting. Our results continue to hold after using an alternative measure of agency costs and conducting two-stage least squares regressions. Supplementing these results, the study also shows that the level of agency costs of voluntary XBRL adopters remains statistically unchanged after the adoption while the level of agency costs associated with the firms that did not participate in SEC's VFP significantly decline after the adoption during the XBRL mandate.

Practical implications

The findings of this study suggest that based on a firm's level of agency costs, regulators and policymakers, especially those in countries that are yet to mandate XBRL reporting, can, in advance, identify firms that are more likely to comply with their new financial reporting initiatives.

Originality/value

This paper provides first evidence on the role of agency costs in the voluntary adoption of XBRL using data from the United States.

Details

International Journal of Managerial Finance, vol. 16 no. 5
Type: Research Article
DOI: https://doi.org/10.1108/IJMF-01-2019-0021
ISSN: 1743-9132

Keywords

  • Agency costs
  • Information asymmetry
  • Voluntary adoption
  • XBRL

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Article
Publication date: 31 July 2020

The role of blocked gratitude in non-voluntary tipping

Ismail Karabas and Jeff Joireman

Non-voluntary tipping (e.g. automatic gratuity) has received growing attention in the service industry. Existing research suggests customers respond unfavorably to non…

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Abstract

Purpose

Non-voluntary tipping (e.g. automatic gratuity) has received growing attention in the service industry. Existing research suggests customers respond unfavorably to non-voluntary tipping, yet little research has examined why. The current study aims to address this question, with particular interest in response to non-voluntary tipping under high-quality service.

Design/methodology/approach

Two scenario-based experiments tested the proposed hypotheses in between-participants design using ANOVA, hierarchical regression and PROCESS.

Findings

Study 1 showed that non-voluntary tipping resulted in higher negative emotions, which led to lower return intentions. Surprisingly, the negative effect of non-voluntary tipping was as strong (or stronger) under high (vs low) quality service. To understand this counterintuitive effect, Study 2 developed and tested two competing process models (i.e. blocked vengeance vs blocked gratitude). Supporting the blocked gratitude model, results revealed that non-voluntary tipping hinders customers’ ability to reward service employees, undermining positive emotions and lowering return intentions.

Research limitations/implications

Current work was conducted in two settings using two scenario-based experiments. Hence, additional settings with non-scenario-based studies are encouraged.

Practical implications

The present work cautions managers considering a move to non-voluntary tipping to be aware of its negative effects, especially when the service quality is high. The blocked gratitude model suggests that managers should clarify methods available for customers who wish to reward good service.

Originality/value

This paper is the first to examine customer response to non-voluntary tipping under different levels of service quality and the underlying emotional mechanisms.

Details

Journal of Services Marketing, vol. 34 no. 7
Type: Research Article
DOI: https://doi.org/10.1108/JSM-03-2020-0082
ISSN: 0887-6045

Keywords

  • Customer experience
  • Emotions
  • Service delivery
  • Service systems
  • Service quality
  • Service failures
  • Service charge
  • Service inclusive pricing
  • Non-voluntary tipping policy
  • Mandatory gratuity
  • Blocked vengeance
  • Blocked gratitude

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Article
Publication date: 6 June 2020

Socio-emotional wealth preservation and KPI voluntary disclosure quality

Saoussen Boujelben and Chourouk Boujelben

The purpose of this paper is to examine the effect of the emotional attachment strength of family members to their business on the quality of the voluntary disclosure of…

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Abstract

Purpose

The purpose of this paper is to examine the effect of the emotional attachment strength of family members to their business on the quality of the voluntary disclosure of their key performance indicator (KPI). More specifically, the authors focused on the effect of two dimensions of the socio-emotional theory, i.e. “family influence and control” and “firm dynasty succession.”

Design/methodology/approach

The authors performed a content analysis of annual reports for a sample of 87 French families listed in CAC All-Tradable to calculate a disclosure quality index of KPI. The authors proxied the “family influence and control” by the proportion of family members appointed in the board. To identify the “firm dynasty succession” concern, the authors classified firms according to the generation they belonged to. The authors estimated a cross-sectional linear regression model to meet the research objective.

Findings

This study confirms the role of the family affective attachment in decreasing the quality of KPI disclosure in such a way to preserve its socio-emotional wealth. The family firms’ principals who desire to sustain their control on the firm, to perpetuate the business for future generations and to protect their emotional wealth tend to avoid the disclosure of credible and reliable KPI information.

Practical implications

The findings have meaningful practical implications. First, they provide relevant insights into the regulatory bodies of the financial reporting regarding the increasing appeal for making KPI disclosure mandatory. Second, as the family businesses are the most widespread proprietorship in the French context, the effect of the family agenda on the quality of the KPI should be of interest to various policymakers and financial statements’ users of such firms. Third, the results inform nonfamily shareholders regarding the importance of selecting representatives on the board that should share similar interest with regard to KPI disclosure.

Social implications

From a societal perspective, this study is relevant in taking into account the critical role the family businesses have in the French economy. This study should help the minority shareholders to protect their interests and maximize their wealth within the family firm because it sheds light on the influence that family members have on hiding key information on the firm’s real performance.

Originality/value

To the best of the authors’ knowledge, no prior study in the family firms literature has examined the quality of voluntary disclosure of KPI. Although most previous studies merely compared family and nonfamily firms in terms of voluntary disclosure, the authors acknowledge and address the heterogeneity between family firms. The authors contribute to the few prior empirical validations of SEW implication on voluntary disclosure decisions by testing the effect of an additional dimension, which is family dynasty.

Details

Journal of Financial Reporting and Accounting, vol. 18 no. 3
Type: Research Article
DOI: https://doi.org/10.1108/JFRA-09-2019-0113
ISSN: 1985-2517

Keywords

  • KPI
  • Family firms
  • Family control
  • Family dynasty
  • Quality of voluntary disclosure
  • Socio-emotional wealth theory

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Book part
Publication date: 15 July 2014

Voluntary Associations, Social Inequality, and Participatory Democracy in the United States and Korea

Seokho Kim

Analyzing the 2004 U.S. General Social Survey and Korean General Social Survey, this chapter attempts to show that even similar climates of associationalism in two…

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Abstract

Analyzing the 2004 U.S. General Social Survey and Korean General Social Survey, this chapter attempts to show that even similar climates of associationalism in two countries can lead to differential consequences for participatory democracy, depending on the associations’ capacities to foster civic resources. This chapter first examines whether the politically desirable traits of civic virtue and social trust essential to political participation can be developed by associational membership in the United States and Korea. Second, it investigates whether associational membership strengthens, weakens, or leaves unchanged the effects of socioeconomic resources measured by educational attainment and family income on political participation especially among association members in these two countries. The results indicate that voluntary associations in the United States, compared to those in Korea, do a better job of playing the role of civic educator and even of political equalizer. First, associational membership significantly and positively affects civic virtue and social trust in the United States. Second, associational membership does not affect civic virtue and social trust in Korea. Third, the effects of educational attainment and family income on political participation among members are weak in the United States. Fourth, the effects of educational attainment and family income on political participation among members are strong in Korea. Therefore, this chapter concludes that voluntary associations do not contribute to participatory equality in Korea despite its vibrant group-centered culture, whereas their American counterparts are relatively effective in bringing about the expected outcome.

Details

Can Tocqueville Karaoke? Global Contrasts of Citizen Participation, the Arts and Development
Type: Book
DOI: https://doi.org/10.1108/S1479-352020140000011016
ISBN: 978-1-78190-737-5

Keywords

  • Political participation
  • voluntary association
  • social inequality
  • political disparity
  • civic virtue
  • participatory democracy

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Book part
Publication date: 5 January 2006

Worker Absenteeism Under Voluntary and Compulsory Sickness Insurance: Continental Europe, 1885–1908

John E. Murray

Prior to widespread social insurance, European governments experimented with a variety of programs to protect workers from income loss due to illness. This paper examines…

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Abstract

Prior to widespread social insurance, European governments experimented with a variety of programs to protect workers from income loss due to illness. This paper examines the consequences for worker absenteeism of making sickness insurance coverage voluntary or compulsory. Medical benefits appear to have reduced absenteeism for all workers. The effect of paid sick leave depended on insurance fund membership status. Better-paid workers found it easier to take time off in compulsory than in voluntary funds. Distinctive information problems plagued voluntary systems, and eventually were resolved by rejecting the voluntary ideal and forcing all workers into a single risk pool.

Details

Research in Economic History
Type: Book
DOI: https://doi.org/10.1016/S0363-3268(05)23005-7
ISBN: 978-1-84950-379-2

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Book part
Publication date: 8 November 2011

Chapter 4 The Emergence of a Third-Order System in the Danish Welfare Sector

Anders la Cour and Holger Højlund

Purpose – To analyze the emergence of new organizational forms in the Danish welfare sector.Design/methodology/approach – Drawing on Niklas Luhmann and Gunther Teubner…

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Abstract

Purpose – To analyze the emergence of new organizational forms in the Danish welfare sector.

Design/methodology/approach – Drawing on Niklas Luhmann and Gunther Teubner, the research analyzes governmental documents, policy programs, action plans, and strategic documents.

Findings – A partnering structure has emerged with a new politics of voluntarism, complex forms of integration and new imaginary distinctions between voluntariness and public care. This can usefully be conceptualized as aspects of the stabilization of a “third-order system.” The research identified a number of different managerial strategies for involvement in the system.

Practical and social implications – Social welfare has become a mix of public and civil society values and norms, and extensive resources have been invested from both governmental and nongovernmental sides to build up shared competences for the new forms of partnering-based organization. However, to act according to the new principles of partnering, at the strategic and managerial level, the voluntary organizations have to behave in a schizophrenic manner – as both individual organizations and cooperational partners within the system.

Research implications – The concept of “third-order system” is especially useful in analyzing mixed forms of management in the welfare sector.

Originality – Different forms of radical organizational analysis are combined to develop a notion of “third-order system” in the welfare sector.

Details

The Third Sector
Type: Book
DOI: https://doi.org/10.1108/S2046-6072(2011)0000001013
ISBN: 978-1-78052-281-4

Keywords

  • System theory
  • third-order system
  • professionalization
  • amateurism and voluntary social work

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Book part
Publication date: 23 August 2018

From Deviant Choice to Feminist Issue: An Historical Analysis of Scholarship on Voluntary Childlessness (1920–2013)

Ingrid Lynch, Tracy Morison, Catriona Ida Macleod, Magdalena Mijas, Ryan du Toit and Simi Seemanthini

Existing reviews of research on voluntary childlessness generally take the form of narrative summaries, focusing on main topics investigated over time. In this chapter…

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Abstract

Existing reviews of research on voluntary childlessness generally take the form of narrative summaries, focusing on main topics investigated over time. In this chapter, the authors extend previous literature reviews to conduct a systematic review and content analysis of socio-historical and geopolitical aspects of knowledge production about voluntary childlessness. The dataset comprised 195 peer-reviewed articles that were coded and analysed to explore, inter alia: the main topic under investigation; country location of authors; sample characteristics; theoretical framework and methodology. The findings are discussed in relation to the socio-historical contexts of knowledge production, drawing on theoretical insights concerned with the politics of location, representation and research practice. The shifts in the topics of research from the 1970s, when substantial research first emerged, uphold the view of voluntary childlessness as non-normative. With some regional variation, knowledge is dominated by quantitative, hard science methodologies and mostly generated about privileged, married women living in the global North. The implications of this for future research concerned with reproductive freedom are outlined.

Details

Voluntary and Involuntary Childlessness
Type: Book
DOI: https://doi.org/10.1108/978-1-78754-361-420181002
ISBN: 978-1-78754-362-1

Keywords

  • Childfree
  • voluntary childlessness
  • feminist theory
  • pronatalism
  • knowledge production
  • literature review
  • content analysis

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Book part
Publication date: 29 March 2016

Turnover and Unit-Level Financial Performance: An Analysis of the Costs and Benefits of Voluntary and Involuntary Turnover in Unskilled Jobs

James W. Hesford, Mary A. Malina and Mina Pizzini

We investigate outcomes associated with the turnover of unskilled workers, isolating its effects on revenue, cost, and profit. Little attention from researchers has been…

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Abstract

Purpose

We investigate outcomes associated with the turnover of unskilled workers, isolating its effects on revenue, cost, and profit. Little attention from researchers has been given to unskilled workers, a significant portion of the workforce.

Methodology/approach

This study investigates the relation between turnover among unskilled workers and financial performance using data from 527 hotels owned by the same lodging chain. The workers in our sample are full-time housekeepers and front desk attendants.

Findings

We find that the relation between turnover and performance differs by turnover type (voluntary vs. involuntary) and category of unskilled worker, reiterating the need to differentiate between turnover type and the importance of context in studying turnover. We challenge the assumption that voluntary turnover is categorically harmful and our results for front desk attendants support the view that organizations choose turnover levels that maximize performance. We also provide new evidence on the effects of involuntary turnover. Contrary to the established notion that dismissing less able employees should improve performance, we find that involuntary turnover has negative consequences.

Research limitations/implications

Our results demonstrate the importance of distinguishing voluntary turnover from involuntary turnover and the need to include both in models predicting turnover’s performance effects.

Details

Advances in Management Accounting
Type: Book
DOI: https://doi.org/10.1108/S1474-787120150000026002
ISBN: 978-1-78441-652-2

Keywords

  • Voluntary turnover
  • involuntary turnover
  • financial performance
  • customer satisfaction

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Article
Publication date: 1 July 2019

Voluntary environmental collaborations and corporate social responsibility in Siem Reap city, Cambodia

Koet Vitiea and Seunghoo Lim

This study aims to identify which actors play leadership and brokerage roles in voluntary environmental collaborations and how the corporate social responsibility (CSR) of…

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Abstract

Purpose

This study aims to identify which actors play leadership and brokerage roles in voluntary environmental collaborations and how the corporate social responsibility (CSR) of actors is associated with such voluntary networking behaviours in Cambodia.

Design/methodology/approach

To achieve these purposes, this study mainly uses social network analysis to capture the properties of networking behaviours in the voluntary collaborative activities underlying three main environmental issues: waste disposal, energy and water pollution. The study focusses on the collaborative efforts undertaken by actors across multiple sectors: governmental organizations, for-profits and civil society organizations.

Findings

The results show that the government plays the leading role in voluntary environmental collaborations across environmental issues; however, the actual implementation is expanded to be undertaken by non-state actors. Moreover, CSR has positive associations with networking and brokerage roles; therefore, this study reveals the utility of various voluntary policy instruments.

Practical implications

This study demonstrates the role of governmental initiation and its influence on non-state actors, even for voluntary environmental tools. The CSR initiatives of private actors can also be supported and encouraged by the government, which will promote participation by private actors in voluntary collaborative networks and their leading role as network facilitators.

Social implications

By understanding the positions and roles of each actor in the environmental collaborative networks, environmental policymakers can better understand the possibilities and the capabilities of each actor both to improve policy design and learning and to respond to policy changes effectively.

Originality/value

Voluntary collaboration and CSR are non-regulated policy tools; however, they can be promoted and introduced into society by governmental organizations, and they affect each other.

Details

Sustainability Accounting, Management and Policy Journal, vol. 10 no. 3
Type: Research Article
DOI: https://doi.org/10.1108/SAMPJ-04-2018-0118
ISSN: 2040-8021

Keywords

  • Networking behaviours
  • Cambodia
  • Corporate social responsibility
  • Stakeholder theory
  • Brokerage roles
  • Voluntary environmental collaboration

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