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Article
Publication date: 2 December 2021

Sumaia Ayesh Qaderi, Sitraselvi Chandren and Zaimah Abdullah

Integrated reporting (IR) is a new trend in corporate reporting that has spread rapidly in recent years for disclosing financial and non-financial information. This study…

Abstract

Purpose

Integrated reporting (IR) is a new trend in corporate reporting that has spread rapidly in recent years for disclosing financial and non-financial information. This study aims to assess the status of the current regulations and the trends in IR disclosure practice in an emerging market, Malaysia, by providing a comparative analysis of the IR disclosure level (IRDL) and IR disclosure quality (IRDQ).

Design/methodology/approach

The current study has developed a comprehensive IR disclosure index based on the international integrated reporting framework (IIRF), which comprises 100 items divided into four categories (background, assurance and reliability, content and form). The data were collected from annual reports of companies listed on the Bursa Malaysia over the three years 2017 to 2019, based on 267 observations. Content analysis technique was used to evaluate and measure IRDL and IRDQ. Descriptive analysis was performed to provide the background statistics of the variables examined.

Findings

IR regulations are at an early stage, and IR adoption is still voluntary in the Malaysian market. Only 267 Malaysian company-year observations during the years 2017–2019 have adopted IR techniques. However, descriptive analysis results showed that Malaysian companies have moved towards the preparation of IR consistent with the IIRF. The findings indicate a significant increase in both IRDL and IRDQ over this period, after the recent recommendation by the Malaysian code of corporate governance (2017) on adopting IR. Further, the results show statistically significant differences in the mean of IRDL and IRDQ between large and small companies.

Practical implications

These results are important for regulators and policymakers in articulating new IR legislation in an emerging market and for corporate entities and investors in shaping their understanding of IR disclosure practice in the Malaysian institutional context.

Originality/value

To the best of the researchers’ knowledge, the study is among the first to address the IR regulation status and practice in Malaysian companies. It also established a comprehensive index for measuring IRDL and IRDQ based on the IIRF. The results add to the meagre descriptive literature on IR practice by providing comprehensive insights into IR practice from the perspective of an emerging country.

Details

Journal of Financial Reporting and Accounting, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-2517

Keywords

Content available
Article
Publication date: 26 November 2021

Charles H. Cho, Joanna Krasodomska, Paulette Ratliff-Miller and Justyna Godawska

This study examines the internationalization effects of corporate social responsibility (CSR) reporting, specifically aiming to identify and compare the CSR reporting…

Abstract

Purpose

This study examines the internationalization effects of corporate social responsibility (CSR) reporting, specifically aiming to identify and compare the CSR reporting practices of large US multi-national corporations (MNCs) and their Polish subsidiaries.

Design/methodology/approach

Based on content analysis and using a disclosure index, the authors examined the CSR information posted on, or linked to, the corporate websites of a sample of 60 US-based MNCs and their subsidiaries operating in Poland.

Findings

The findings indicate that US companies, despite operating in a less regulated environment, had more extensive disclosure than their Polish subsidiaries and covered more CSR-related topics. CSR disclosures within the US subsample were analogous in volume and detail. By contrast, only about half of Polish companies provided CSR disclosures, which were more diverse in volume and in the types of activities disclosed. The authors did not find a significant positive correlation between the CSR disclosures of the two subsamples.

Originality/value

The study contributes to the literature on internationalization processes and sustainability practices. It provides insights into the CSR reporting of companies located in Central and Eastern European countries. The findings also have implications for policymakers in incentivizing the enhancement of the reporting disclosure practices of companies.

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Article
Publication date: 29 November 2021

Amal Hamrouni, Mondher Bouattour, Nadia Ben Farhat Toumi and Rim Boussaada

The current study aims to investigate the relation between corporate social responsibility (CSR) and information asymmetry, as well as the moderating effect of board…

Abstract

Purpose

The current study aims to investigate the relation between corporate social responsibility (CSR) and information asymmetry, as well as the moderating effect of board characteristics (gender diversity, size and independence) on this relationship.

Design/methodology/approach

This paper uses a panel data regression analysis with the system generalized method of moments (SGMM) estimator of nonfinancial French firms included in the SBF 120 index. The environmental and social disclosure scores are collected from the Bloomberg database, while financial data are collected from the FactSet database.

Findings

The empirical results demonstrate that environmental disclosure has a positive impact on the level of information asymmetry, while social disclosure has no effect on the information environment. Gender diversity and board independence negatively impact the opacity index, while board size has a positive effect. The presence of women in board composition has a substitution effect on the relationship between environmental disclosure and information asymmetry. There is no moderating effect of board size on the association between CSR disclosure and information asymmetry. However, the proportion of independent female directors and board independence operates as substitutes to social disclosure on reducing information asymmetry.

Research limitations/implications

Although the models include the most common control variables used in the literature, they omit some variables. Second, the results should be interpreted with caution and should not be generalized to the entire stock market since the sample is based on large French companies.

Practical implications

The results of this study may be of interest to managers, investors and French market authorities since France is characterized by highly developed laws and reforms in the area of CSR. In addition, the paper leads to a better understanding of how women on the board, in particular, independent female directors, affect the relationship between CSR disclosure and information asymmetry. This could be of interest to French authorities, which has encouraged the appointment of women through the adoption of the Copé–Zimmermann law.

Originality/value

First, to the best of the authors' knowledge, this is the first study to explore the moderating effect of board characteristics on the relationship between CSR and information asymmetry. Second, unlike previous studies using individual proxies to measure information asymmetry, the authors favor the opacity index of Anderson et al. (2009). They calculate this index by including a fifth individual measure, namely, share price volatility. The opacity index better describes the information environment of companies than individual measures since it reflects the perceptions of investors and analysts together.

Details

Journal of Applied Accounting Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0967-5426

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Article
Publication date: 22 November 2021

Nava Rothschild and Noa Aharony

The Internet enables various voices and opinions that previously did not participate in the community discourse to express themselves. People with mental illnesses make…

Abstract

Purpose

The Internet enables various voices and opinions that previously did not participate in the community discourse to express themselves. People with mental illnesses make use of social networks to advance their special needs in varied ways. The study aims to examine the nature of the discourse that takes place in public and private groups of people with mental illnesses.

Design/methodology/approach

The research corpus consisted of the content of 615 messages taken from public and private groups of people with mental illnesses in Facebook. Linguistic parameters (the total number of words, the number of words in the first person) were examined for each message. Two skilled judges classified the messages on a self-disclosure scale to determine the degree of disclosure of personal information, thoughts and emotions.

Findings

The results of the study indicate that the messages published in public groups are longer than the messages in private groups; however, the level of personal disclosure in messages written in private groups is deeper than in messages written in public groups. In addition, the level of self-disclosure in opening posts was found to be greater than the level of self-disclosure in comments.

Practical implications

In the study, the authors focus on the ways people in excluded populations make use of virtual tools to advance both their personal and social needs.

Originality/value

The study is innovative, as it explores the discourse of people with mental illnesses in public and private groups on Facebook.

Details

Online Information Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1468-4527

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Article
Publication date: 10 December 2021

Bishal BC and Bo Liu

This paper aims to investigate whether the non-generally accepted accounting principles (GAAP) performance measures (NGMs) disclosure by high-tech initial public offering…

Abstract

Purpose

This paper aims to investigate whether the non-generally accepted accounting principles (GAAP) performance measures (NGMs) disclosure by high-tech initial public offering (IPO) firms signal firms’ efforts to maintain relatively high stock price levels before the expiration of the lock-up period to benefit insider selling.

Design/methodology/approach

The authors perform ordinary least squares and logit regressions using financial statement data and hand collected data on NGM disclosures for high-tech firms during the IPO process.

Findings

The authors find that the top executives of high-tech IPO firms with NGM disclosures are significantly more likely to sell and sell significantly more insider shares at the lock-up expiration than those of high-tech IPO firms without NGM disclosures. At the same time, while high-tech NGM firms have stock returns similar to their counterparts without NGMs for the period before the lock-up expiration, their stock returns are substantially lower after insider selling following the lock-up expiration.

Practical implications

By documenting the negative association between NGM disclosures and post-lockup expiration stock performance, the study highlights managerial deliberate optimism about the firm’s prospects which may not materialize. Hence, investors should take the NGM disclosures with a grain of salt.

Originality/value

This paper fills a notable void in the non-GAAP reporting literature by documenting a statistically and economically significant positive association between managerial equity trading incentives and NGM disclosures by high-tech IPO firms.

Details

Accounting Research Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1030-9616

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Article
Publication date: 7 December 2021

Giovanni Bronzetti, Maurizio Rija, Graziella Sicoli and Dominga Ippolito

There are several studies on various aspects of the disclosure of companies but there is little research on elements related to the disclosure of innovation in particular…

Abstract

Purpose

There are several studies on various aspects of the disclosure of companies but there is little research on elements related to the disclosure of innovation in particular. The work aims to fill this important gap by examining to what extent the companies listed on the Italian Stock Exchange, which prepare the sustainability report (non-financial declaration – NFS), disseminate information relating to innovative activities.

Design/methodology/approach

The methodology used to achieve the research goal has used multiple linear regression models (OLS), to study the factors that influence disclosure. The data were collected through the content analysis. The sample is made up of 171 companies listed on the Italian stock exchange which prepared a sustainability report for the period of four years 2016–2019 (Sustainability Reports and Integrated Documentation) and which contain information on innovative activity.

Findings

The research confirms a positive relationship between information on innovation and the economic variables of corporate investment. In addition, an important relationship emerges linked to the disclosure of innovative information and the business sector, innovation investments and R&D activity.

Research limitations/implications

The work suffers from some limitations: the short period of observation subject to analysis, the lack of sustainability report 2020, the extension of the variables taken into consideration for the implementation of the regression models; it is desirable to consider a wider pool of variables in the future in order to implement further specific tests.

Practical implications

On a practical level, the research suggests the adoption of a framework on the dissemination of innovative activity that allows easy reading of information (regardless of the sector and company size), built starting from the most representative keywords of the activities innovative, to be included in a specific section of the Sustainability Report. This work contributes to filling a cognitive gap connected to the disclosure of the innovative activity. There is much research on disclosure related to business activities, but no specific research regarding the communication of innovation.

Originality/value

The study conducted contributes to fill a gap in the literature related to the disclosure of the innovative activity. The latter is a strategic element for effective and clear communication with stakeholders.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

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Article
Publication date: 26 October 2021

Adrija Majumdar and Pranav Singh

There is ambiguity regarding whether coronavirus disease 2019 (COVID-19) is a boon or bane for the IT services industry. On the one hand, it has created opportunities…

Abstract

Purpose

There is ambiguity regarding whether coronavirus disease 2019 (COVID-19) is a boon or bane for the IT services industry. On the one hand, it has created opportunities, especially with the growth of collaborative technologies. On the other hand, many firms have reduced their IT budgets owing to the ongoing recession. This study explores how IT firms have assessed the risk of the pandemic in the early days and informed capital market participants. In addition, it examines the impact of such online disclosures on information asymmetry.

Design/methodology/approach

The authors analysed annual reports of publicly listed firms in the USA filed on the Securities and Exchange Commission website in 2020 and examined whether the disclosure scenario of technology firms was different from that of the other industries. Moreover, the risk sentiment of COVID-19-related disclosures was assessed by employing text analytics. Information asymmetry was measured using the bid–ask spread.

Findings

Overall, it was found that IT services firms were less likely to discuss the COVID-19 pandemic in their annual reports. Interestingly, it was observed that technology firms that chose to communicate about the pandemic had a lower incidence of words related to risks. Furthermore, communicating about COVID-19 in annual reports calms investors and improves the information asymmetry situation about the firm. Variation in the severity of the pandemic and the responses of state governments was controlled for by employing state-fixed effects in the empirical models.

Originality/value

The authors inform the literature on corporate disclosures and technology and highlight the importance of effectively communicating about the pandemic.

Details

Industrial Management & Data Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0263-5577

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Article
Publication date: 28 October 2021

Ana Yetano and Daniela Sorrentino

This paper aims to explore the financial and non-financial accountability disclosure patterns of state-owned enterprises (SOEs), as hybrid organizations.

Abstract

Purpose

This paper aims to explore the financial and non-financial accountability disclosure patterns of state-owned enterprises (SOEs), as hybrid organizations.

Design/methodology/approach

Adopting the hybridity concept and resorting to stakeholder theory, this paper works on a comparison between the accountability disclosure patterns of hybrid and private organizations operating in the same industry. European national news agencies are selected as units of analysis and an extensive web content analysis is performed on three categories of information.

Findings

SOEs are found to disclose a broader spectrum of information than private organizations, and differences between them have been found. Nevertheless, both financial and non-financial disclosures are underdeveloped in the two organizational types.

Research limitations/implications

This paper illustrates how hybridity explains SOEs’ accountability disclosure patterns. Results could not be complemented through information on disclosure through alternative channels. Future studies are encouraged to perform simultaneous comparisons among hybrid, public and private organizations, as well as considering industry specifics.

Practical implications

As web accountability disclosure helps to address the demands of distant stakeholders, efforts are needed to enhance SOEs’ web accountability disclosures and not to undermine democratic accountability relationships.

Originality/value

This paper contributes to the ongoing debate on the accountability mechanisms and style of SOEs. Using a framework for hybrid organizations provides an understanding of how SOEs, as hybrid organizations, disclose information for accountability. In turn, this allows, and then promotes, the investigation of social phenomena by conceiving hybridity as a standalone institutional space.

Details

Meditari Accountancy Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2049-372X

Keywords

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Article
Publication date: 28 October 2021

Ayman Issa, Mohammad A.A. Zaid, Jalal Rajeh Hanaysha and Ammar Ali Gull

The purpose of this study is to examine the impact of board diversity (e.g. education, gender, nationality and royal family members) on voluntary corporate social…

Abstract

Purpose

The purpose of this study is to examine the impact of board diversity (e.g. education, gender, nationality and royal family members) on voluntary corporate social responsibility (CSR) disclosure for a sample of banks listed in the Arabian Gulf Council countries.

Design/methodology/approach

The authors use the Global Reporting Initiative guidelines to construct the CSR disclosure index. The empirical analysis is based on the data of banks listed in the Gulf Cooperation Council countries over the period 2011–2019. To tackle the potential issue of endogeneity, the authors apply the system generalized method of moments (GMM) estimation approach to investigate the relationship between board diversity and CSR disclosure index.

Findings

The findings of the analysis show that there is a significant relationship between board diversity and the level of voluntary CSR disclosure. Specifically, the authors find that diversity captured by the education level, nationality and the presence of royal family members on board is positively associated with the level of voluntary CSR disclosure while diversity captured by the gender of board members is negatively associated with the level of voluntary CSR disclosure.

Practical implications

The regulators, policymakers, stakeholders and the board of directors become aware of the diversity mechanisms that must be used to promote CSR practices in the banking sector of Arabian Gulf countries.

Originality/value

The authors extend the existing literature by providing empirical evidence on the association between board diversity and voluntary CSR disclosure practices of banks operating in the Arabian Gulf countries. This study also highlights that board gender diversity may have a different impact on voluntary CSR disclosure between developed countries and developing countries. This paper also provides preliminary evidence on the importance of education level, the presence of foreign and royal directors on board to influence CSR practices of banks operating in the Arabian Gulf countries.

Details

International Journal of Accounting & Information Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1834-7649

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Article
Publication date: 28 October 2021

Naurin Farooq Khan, Naveed Ikram, Hajra Murtaza and Muhammad Aslam Asadi

This study aims to investigate the cybersecurity awareness manifested as protective behavior to explain self-disclosure in social networking sites. The disclosure of…

Abstract

Purpose

This study aims to investigate the cybersecurity awareness manifested as protective behavior to explain self-disclosure in social networking sites. The disclosure of information about oneself is associated with benefits as well as privacy risks. The individuals self-disclose to gain social capital and display protective behaviors to evade privacy risks by careful cost-benefit calculation of disclosing information.

Design/methodology/approach

This study explores the role of cyber protection behavior in predicting self-disclosure along with demographics (age and gender) and digital divide (frequency of Internet access) variables by conducting a face-to-face survey. Data were collected from 284 participants. The model is validated by using multiple hierarchal regression along with the artificial intelligence approach.

Findings

The results revealed that cyber protection behavior significantly explains the variance in self-disclosure behavior. The complementary use of five machine learning (ML) algorithms further validated the model. The ML algorithms predicted self-disclosure with an area under the curve of 0.74 and an F1 measure of 0.70.

Practical implications

The findings suggest that costs associated with self-disclosure can be mitigated by educating the individuals to heighten their cybersecurity awareness through cybersecurity training programs.

Originality/value

This study uses a hybrid approach to assess the influence of cyber protection behavior on self-disclosure using expectant valence theory (EVT).

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

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