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Analyzing the impact of integrated reporting (IR) on international firms' value relevance, considering diverse information such as income, cash flows, risks, uncertainties and various capitals.

This paper used a sample of 300 international companies between 2010 and 2019. This paper collected the data from the Thomson Reuters Eikon database. Quantitative methods were used to test the hypotheses. Furthermore, the feasible generalized least squares (FGLS) method was performed to test the hypotheses.

The results suggest that IR and value relevance positively correlate, confirming the hypothesis. Moreover, this paper verified these results by conducting robustness tests on the contribution of the framework and guidelines prepared by the International Integrated Reporting Council (IIRC) in 2013.

This study enables users to evaluate company transparency and the relevance of disclosed nonfinancial information, providing valuable insights for report preparers and investors seeking profitable opportunities.

The interest in this research was motivated by the authors’ research field, which is innovative, as few studies have been conducted to explain the relationship between IR and value relevance. Similarly, this paper incorporated into their analysis the importance of the framework created by the IIRC in 2013 in preparing and presenting an integrated report. This paper considered the contribution of this framework to the creation of information content. This design has been overlooked in previous studies. However, this paper mobilized the FGLS method, which has been little used in previous studies.

This study aims at examining the value relevance of tax-related information in Canada. Tax-related information in this study includes taxable income, tax aggressiveness, and tax risk (i.e., unsustainable tax planning).

This study analyzes the Canadian listed firms covering the period of 2012–2021 using the Feltham–Ohlson valuation model.

The findings are: (1) taxable income provides incremental value relevance information; (2) tax risk reduces the value relevance of both taxable income and accounting income and (3) tax aggressiveness reduces the value relevance of accounting income but not of taxable income. Further tests show that the COVID-19 pandemic increases the value relevance of taxable income but decreases the value relevance of accounting income. An analysis of the association between stock price volatility and tax-related information documents that taxable income and accounting income are both informative. Tax risk reduces the informativeness of taxable income, but tax aggressiveness and the pandemic do not.

The sample in this study covers the period up to 2021. Future research could use more recent data. Additionally, this study examines the Canadian setting. The results may not be generalized to other countries that have different accounting and tax rules.

This study sheds light on whether tax aggressiveness and tax risk affect the value relevance of taxable income and accounting income separately. In addition, to our knowledge, this is the first study that examines whether tax-related information is informative about stock price volatility.

Being clear and specific on what moderating and/or mediating variables are included and what effects are observed in academic research helps the reader to better understand the academic research context and results. But in terms of managerial relevance, it is also important to do this in a way that it provides descriptive, goal and operational relevance to decision makers in practice, depending on the type of intended research. This article wants to provide “a question-based step-by-step guide” on how to make the analysis of moderating/mediating variables and their observed effects more managerially relevant.

Based on a critical review of the literature, important criteria of managerial relevance are confronted with important aspects of theory building with respect to mediating and moderating effects, leading to best-practice insights and recommendations. Moreover, exemplary articles are used to illustrate these findings.

The insights and step-by-step recommendations assist the academic researcher in making choices when analyzing moderators and mediators, by not only taking a theoretical perspective, but also a managerial (relevance) perspective. Adding moderators/mediators may for instance challenge the “core logic of managerial practice” (in terms of thinking and decision making), even if it does not change the “core logic of a theory” as such. In the other direction, academics (and their theory) may be challenged by practitioners, in the way they define moderators/mediators and their levels. The steps in this article relate to aspects such as measurability, controllability and role of moderators and mediators in managerial problem and decision contexts. In case of multiple moderating and/or mediating variables, the decision architecture for managers becomes more complex, especially when the effects are countervailing/opposite. Multiple studies in this article illustrate that in that case, making optimal decisions becomes a “balancing” act for managers/decision makers and may even challenge their common beliefs (e.g. linear thinking).

The guidelines on managerial relevance of moderating and/or mediating variables and their effects can be used by academic researchers and editors of academic journals, pursuing not only academic rigor, but also managerial relevance. Besides being a guide for managerially relevant output, it also helps in determining for which questions in the research process, input from practitioners or at least insights from practice (e.g. through sources such as business magazines and portals) may be needed. The guidelines may also be used for teaching purposes, complementing more theoretical articles that mainly focus on methodological/statistical issues of moderating/mediating variables and their effects.

This paper is motivated by the ongoing debate on the value relevance of cash flow statement (CFS) between bank regulators, on one hand, and accounting standard setters, on the other hand. The importance and usefulness of cash flows during economic turmoil exacerbated by the Covid-19 pandemic has recently gained attention. Hence, this paper investigates the impact of Covid-19 pandemic on the value relevance of cash flows (CF) beyond accounting earnings and book equity.

A panel of 236 bank-year observations is examined for value relevance in emerging capital markets of Gulf Cooperation Council (GCC) countries. Using value relevance regression, operating and non-operating CF items are tested for value relevance beyond earnings and book value of equity during the periods 2018–2019 (pre-pandemic) and 2020–2021 (pandemic).

There is limited value relevance of CF beyond accounting earnings and the book value of equity. The distinction between operating and non-operating CF is not informative. However, the value relevance is significant during the pandemic, indicating that investors rely on CF for valuation purposes at times of uncertainty, corroborating further research on CF distress predictive ability.

This paper provides novel evidence on value relevance of CF and its superiority to accounting earnings and equity values during times of uncertainty. It extends a small body of research in the banking sector in emerging markets. Hence, it complements prior literature and has practical implications to accounting standard setters and bank regulators in emerging markets.

This study aims to assess the evolution of the value relevance of book value, earnings and its components in Mauritius, an African developing country, focusing on value relevance changes after International Financial Reporting Standards (IFRS) adoption and subsequent local reforms.

The study relies on a data set of 567 firm-year observations (2001–2018) and the Ohlson valuation model to investigate value relevance after IFRS adoption, the implementation of institutional reforms and enforcement reforms.

Firstly, the authors find support for a rise in the combined value relevance of earnings and book value, albeit that book value significantly contributes to changes over time. The findings highlight the combined importance of IFRS adoption with institutional and enforcement reforms to improve value relevance. Secondly, the authors do not find evidence of a shift in value relevance between earnings and book value. Third, the cash flow model reveals a higher level of significance relative to the earnings model.

The authors extend the value relevance literature in the context of African developing countries. The present findings underpin the need for a reinforcing of relevant institutional and enforcement frameworks to ensure the benefits of IFRS adoption materialise. The findings also offer a contribution of how developing countries’ experience IFRS post-adoption while adding to the dearth of studies analysing IFRS enforcement practices.

The study aims to investigate the Shari’ah governance quality effectiveness, at the bank and national levels, on the value relevance of Islamic banks’ (IBs’) earning per share and book value per share.

Quantitative analyses are conducted using a panel of 40 listed IBs from 12 countries during 2012–2019. Data were retrieved from the Refinitiv Eikon database and banks’ annual reports.

The findings suggest that Shari’ah supervisory boards’ attributes negatively influence the value relevance of accounting information while the internal procedures positively impact it. The results also provide evidence of a complementary effect between Shari’ah governance mechanisms at the bank and national levels on the value relevance of accounting information.

IBs’ boards and managers need to be more aware of the role of Shari’ah governance and its impact on value relevance. The observed complementarity between Shari’ah governance systems at the bank and national levels may incite regulators to include comprehensive Shari’ah governance regulations in their best practices. Strengthening collaboration between regulators and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is also required to create an enabling environment for investors to rely on the AAOIFI accounting standards in their investment decision-making process.

Existing studies tend to ignore the effectiveness of Shari’ah governance quality at the bank level on value relevance. There is a similar lack of empirical research on the effectiveness of the centralized Shari’ah governance scheme on accounting issues.

This article aims to evaluate the informativeness of accruals on stock prices. Investors may misinterpret the information contained in accruals and produce accrual anomalies. Accruals accounting improves the quality of financial statements by providing useful information, although it also contains judgments and is less objective than operating cash-flows.

We employ data panel regression analysis to investigate the value relevance of financial information. Our study takes the object of companies listed on the Nasdaq stock exchange (NASDAQ) as the representative of the prominent stock exchange for technology-driven enterprises and entrepreneurs. Expanding the findings, we also use Shanghai Stock Exchange (SSE) data.

Our research finds that accruals are still relevant. However, firms with R&D expenditures reduce the ability of accruals to explain stock prices for non-technology firms and firms without intangible assets. After analyzing only tech firms (and firms with intangible assets), our tests show that R&D expenditures improve the relevancy of accruals. These findings apply to both Nasdaq and SSE.

Practitioners and the investment community get valuable insights into how the recognition and measurement of R&D expenditures affect the value relevance. Information about R&D increases relevancy only in firms with intangible assets and those that operate in the technology industry.

Our paper provides benefits by using R&D expenses to affect accruals' informativeness by comparing two countries with different recognition of R&D.

Following the growing adoption of social media, many entrepreneurs are launching personal social media channels. This study focuses on the effect of entrepreneurs' shared information on We Media platforms on the value relevance of their earnings.

Using entrepreneurs' We Media data collected from A-share-listed companies on the Shanghai and Shenzhen Stock Exchanges from 2010 to 2018, this study investigates the effect of the data on the value relevance of earnings using the modified Ohlson model. The authors applied textual analysis to retrieve entrepreneurial We Media data acquired manually from Weibo.

We Media platforms can increase the value relevance of earnings. Entrepreneurs can enhance investor trust by establishing social ties with investors. Investors are more likely to recognize earnings information publicized by enterprises, owing to internal consistency. Particularly, value relevance improves significantly with more personal information being posted and more “likes” being acquired on entrepreneurs' We Media accounts. This positive effect is more obvious in privately owned and highly marketized regions.

The findings extend the research on the economic consequences of We Media as an important information channel, enrich the research on the social media posting behavior of entrepreneurs and provide a reference for enterprises to instill trust using new information disclosure methods and for governments to establish a safe internet environment to promote the sustainable development of the capital market.

This study aims to explore the role of social media visual posts (known as foodstagramming) on restaurant visit intention. Drawing on the heuristic–systematic model and normative focus theory, this research introduces a framework that assesses the effects of key foodstagramming attributes – vicarious expression, aesthetic appeal and post popularity – and the mediating roles of goal relevance and mimicking desire, in the process.

Structural equation modelling was performed to test the proposed model using a sample of tourists (n = 377) and residents (n = 341). Multi-group analysis was performed to compare the differences between these groups.

Results reveal that mimicking desire and goal relevance influence restaurant visit intention; however, mimicking desire has a stronger influence than goal relevance. Little difference was found between the tourist and the resident groups in the proposed relationships, except that vicarious expression positively influences mimicking desire in the tourist group but not in the resident group.

This study guides restauranteurs and social media influencers (foodstagrammers). It shows that consumers value the textual content and aesthetic appeal of photos over the popularity of a post. It also indicates that vicarious expression is more important for tourists than for residents.

This research advances social media marketing literature by proposing a new information processing framework. To the best of the authors’ knowledge, this study is one of the first studies to explore the impact of visual post attributes on individual decision-making behaviours through socially acceptable norms.

The paper analyses the role and impact of Twitter in Spanish political communication, specifically focusing on how the platform influences the visibility and relevance of political candidates' messages during various election campaigns and across various political dimensions – government vs. opposition, traditional vs. populist, and left-wing vs. right-wing.

The study employs a longitudinal quantitative analysis perspective regarding the number and impact of messages posted by the main candidates in the six general elections held in Spain during the period 2011–2023. The tweets were automatically collected through the Twitter API for 54 days, between the call for elections and voting. The equalisation versus normalisation framework regarding social media is used.

The findings showed that the dissemination of messages on Twitter exhibited a skewed distribution characterized by notable differences in the unequal relevance of tweets between candidates on the left-right and traditional-populist axes, especially among the tweets with the highest impact. Tweets from opposition and populist candidates presented a greater level of relevance than those from government and conventional candidates. No discernible differences were identified along the ideological spectrum, indicating a high degree of cross-partisan engagement on social media. Findings indicate that opposition and populist candidates are strategically utilising Twitter, challenging the notion of normalisation and emphasising the equalising potential of social networks.

The study offers a long-term view of political communication, which is relatively rare in social media research, often focused on shorter time frames or single election cycles. The multidimensional comparison provides nuanced insights into how different political identities and affiliations are manifested and engaged with on social media.