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Abstract

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

Article
Publication date: 31 January 2018

Tamer Elshandidy, Philip J. Shrives, Matt Bamber and Santhosh Abraham

This paper provides a wide-ranging and up-to-date (1997–2016) review of the archival empirical risk-reporting literature. The reviewed papers are classified into two…

Abstract

This paper provides a wide-ranging and up-to-date (1997–2016) review of the archival empirical risk-reporting literature. The reviewed papers are classified into two principal themes: the incentives for and/or informativeness of risk reporting. Our review demonstrates areas of significant divergence in the literature specifically: mandatory versus voluntary risk reporting, manual versus automated content analysis, within-country versus cross-country variations in risk reporting, and risk reporting in financial versus non-financial firms. Our paper identifies a number of issues which require further research. In particular we draw attention to two: first, a lack of clarity and consistency around the conceptualization of risk; and second, the potential costs and benefits of standard-setters’ involvement.

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

Keywords

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

Keywords

Article
Publication date: 17 April 2020

Huimin Li, Lelin Lv, Feng Li, Lunyan Wang and Qing Xia

The application of the traditional failure mode and effects analysis (FMEA) technique has been widely questioned in evaluation information, risk factor weights and…

Abstract

Purpose

The application of the traditional failure mode and effects analysis (FMEA) technique has been widely questioned in evaluation information, risk factor weights and robustness of results. This paper develops a novel FMEA framework with extended MULTIMOORA method under interval-valued Pythagorean fuzzy environment to solve these problems.

Design/methodology/approach

This paper introduces innovatively interval-value Pythagorean fuzzy weighted averaging (IVPFWA) operator, Tchebycheff metric distance and interval-value Pythagorean fuzzy weighted geometric (IVPFWG) operator into the MULTIMOORA submethods to obtain the risk ranking order for emergencies. Finally, an illustrative case is provided to demonstrate the practicality and feasibility of the novel fuzzy FMEA framework.

Findings

The feasibility and validity of the proposed method are verified by comparing with the existing methods. The calculation results indicate that the proposed method is more consistent with the actual situation of project and has more reference value.

Practical implications

The research results can provide supporting information for risk management decisions and offer decision-making basis for formulation of the follow-up emergency control and disposal scheme, which has certain guiding significance for the practical popularization and application of risk management strategies in the infrastructure projects.

Originality/value

A novel approach using FMEA with extended MULTIMOORA method is developed under IVPF environment, which considers weights of risk factors and experts. The method proposed has significantly improved the integrity of information in expert evaluation and the robustness of results.

Details

International Journal of Intelligent Computing and Cybernetics, vol. 13 no. 1
Type: Research Article
ISSN: 1756-378X

Keywords

Article
Publication date: 14 March 2018

Alisa G. Brink, Jennifer C. Coats and Frederick W. Rankin

Participative budgeting can benefita firm by incorporating subordinates’ private information into financing and operating decisions. In the managerial accounting…

Abstract

Participative budgeting can benefita firm by incorporating subordinates’ private information into financing and operating decisions. In the managerial accounting literature, studies of participative budgeting posit superiors that range from passively committed to highly active participants, some of whom are permitted to communicate, choose compensation schemes, negotiate with subordinates, and reject budgets. This paper synthesizes and analyzes experimental research in participative budgeting with a focus on the role of the superior defined in the research design, and on how that role affects budget outcomes, subordinate behavior, and in some cases superior behavior. We demonstrate how superior type influences economic and behavioral predictions, and likewise affects budgeting outcomes and the interpretation of the results. This paper is intended to further our understanding of how superior type affects behavior in participative budgeting studies, and to facilitate the choice of superior type in future research designs.

Details

Journal of Accounting Literature, vol. 41 no. 1
Type: Research Article
ISSN: 0737-4607

Keywords

Article
Publication date: 29 July 2018

Max Schreder

This paper provides a quantitative review of the literature on the repercussions of idiosyncratic information on firms’ cost of equity (CoE) capital. In total, I review…

Abstract

This paper provides a quantitative review of the literature on the repercussions of idiosyncratic information on firms’ cost of equity (CoE) capital. In total, I review the results of 113 unique studies examining the CoE effects of information Quantity, Precision and Asymmetry. My results suggest that the association between firm-specific information and CoE is subject to moderate effects. First, the link between Quantity and CoE is moderated by disclosure types and country-level factors in that firms in comparatively weakly regulated countries tend to enjoy up to four times greater CoE benefits from more expansive disclosure—depending on the type of disclosure—than firms in strongly regulated markets. Second, a negative relationship between Precision and CoE is only significant in studies using non-accrual quality proxies for Precision and risk factor-based (RFB)/valuation model-based (VMB) proxies for CoE. Third, almost all VMB studies confirm the positive association between Asymmetry and CoE, but there is notable variation in the conclusions reached when ex post CoE measurers are used.

Details

Journal of Accounting Literature, vol. 41 no. 1
Type: Research Article
ISSN: 0737-4607

Keywords

Article
Publication date: 11 January 2021

Mingyang Li, Zhijiang Du, Xiaoxing Ma, Wei Dong, Yongzhi Wang, Yongzhuo Gao and Wei Chen

This paper aims to propose a robotic automation system for processing special-shaped thin-walled workpieces, which includes a measurement part and a processing part.

Abstract

Purpose

This paper aims to propose a robotic automation system for processing special-shaped thin-walled workpieces, which includes a measurement part and a processing part.

Design/methodology/approach

In the measurement part, to efficiently and accurately realize the three-dimensional camera hand-eye calibration based on a large amount of measurement data, this paper improves the traditional probabilistic method. To solve the problem of time-consuming in the extraction of point cloud features, this paper proposes a point cloud feature extraction method based on seed points. In the processing part, the authors design a new type of chamfering tool. During the process, the robot adopts admittance control to perform compensation according to the feedback of four sensors mounted on the tool.

Findings

Experiments show that the proposed system can make the tool smoothly fit the chamfered edge during processing and the machined chamfer meets the processing requirements of 0.5 × 0.5 to 0.9 × 0.9 mm2.

Practical implications

The proposed design and approach can be applied on many types of special-shaped thin-walled parts. This will give a new solution for the automation integration problem in aerospace manufacturing.

Originality/value

A novel robotic automation system for processing special-shaped thin-walled workpieces is proposed and a new type of chamfering tool is designed. Furthermore, a more accurate probabilistic hand-eye calibration method and a more efficient point cloud extraction method are proposed, which are suitable for this system when comparing with the traditional methods.

Details

Assembly Automation, vol. 41 no. 1
Type: Research Article
ISSN: 0144-5154

Keywords

Article
Publication date: 15 September 2017

Christian Gross and Pietro Perotti

Accounting comparability has been the subject of significant interest in empirical financial accounting research. Recent literature, particularly that following De Franco…

Abstract

Accounting comparability has been the subject of significant interest in empirical financial accounting research. Recent literature, particularly that following De Franco et al.’s (2011) influential study, has focused on utilizing the output of the financial reporting process to measure accounting comparability. In this paper, we conduct an early survey of studies using output-based measures of comparability. We provide two distinct contributions to the literature. First, we describe and comment on four important measurement concepts as well as the studies that introduced them. With this methodological contribution, we aim to facilitate the measurement choice for empirical accounting researchers engaged in comparability research. Second, we classify the sub-streams of literature and related studies. In providing this content-related contribution, we sum up what has already been achieved in output-based accounting comparability research and highlight potential areas for prospective research. As a whole, our study attempts to guide empirical researchers who (plan to) undertake studies on accounting comparability in selecting relevant topics and choosing adequate approaches to measurement.

Details

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

Keywords

Article
Publication date: 12 April 2022

Qing-Yun Deng, Shun-Peng Zhu, Jin-Chao He, Xue-Kang Li and Andrea Carpinteri

Engineering components/structures with geometric discontinuities normally bear complex and variable loads, which lead to a multiaxial and random/variable amplitude…

Abstract

Purpose

Engineering components/structures with geometric discontinuities normally bear complex and variable loads, which lead to a multiaxial and random/variable amplitude stress/strain state. Hence, this study aims how to effectively evaluate the multiaxial random/variable amplitude fatigue life.

Design/methodology/approach

Recent studies on critical plane method under multiaxial random/variable amplitude loading are reviewed, and the computational framework is clearly presented in this paper.

Findings

Some basic concepts and latest achievements in multiaxial random/variable amplitude fatigue analysis are introduced. This review summarizes the research status of four main aspects of multiaxial fatigue under random/variable amplitude loadings, namely multiaxial fatigue criterion, method for critical plane determination, cycle counting method and damage accumulation criterion. Particularly, the latest achievements of multiaxial random/variable amplitude fatigue using critical plane methods are classified and highlighted.

Originality/value

This review attempts to provide references for further research on multiaxial random/variable amplitude fatigue and to promote the development of multiaxial fatigue from experimental research to practical engineering application.

Details

International Journal of Structural Integrity, vol. 13 no. 3
Type: Research Article
ISSN: 1757-9864

Keywords

Article
Publication date: 28 February 2019

Kedong Yin, Jie Xu and Xuemei Li

The purpose of this paper is to study the essential characteristics of grey relational degree of proximity, to analyse the abstract meaning of grey relational degree of…

Abstract

Purpose

The purpose of this paper is to study the essential characteristics of grey relational degree of proximity, to analyse the abstract meaning of grey relational degree of similarity and fully consider the two different relational degree models.

Design/methodology/approach

The paper constructed the grey proximity relational degree by using the weighted mean distance. To analyse the motivation of the development of things, this paper constructed the grey similarity degree by using the concept of induced strength. Finally, the two correlation models are weighted by reliability weighting.

Findings

The research finding shows that the distance is the essence of the grey relational degree of proximity, and the induced strength is a good explanation of the similarities in the development of things.

Practical implications

The analyses imply that the total amount of water consumption in China has the greatest correlation with the consumption of agricultural water resources, followed by the consumption of industrial water resources, and the least correlation with the consumption of domestic water resources.

Originality/value

The paper succeeds in realizing the essential characteristics of grey relational degree of proximity and the abstract meaning of grey relational degree of similarity. Besides, the resolution of the correlation degree can be greatly improved by reliability weighting.

Details

Grey Systems: Theory and Application, vol. 9 no. 3
Type: Research Article
ISSN: 2043-9377

Keywords

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