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1 – 10 of 15Gabriele D’Alauro, Alberto Quagli and Mario Nicoliello
This paper aims to analyze the direct and indirect effects of investor protection on forced CEO turnover.
Abstract
Purpose
This paper aims to analyze the direct and indirect effects of investor protection on forced CEO turnover.
Design/methodology/approach
The authors investigate 5,175 firm-year observations from 16 European countries over 2012–2018, collect data on four national investor protection indicators, identify 196 forced CEO turnovers and use multiple logistic regression models.
Findings
The results show that a reduction in the degree of investor protection significantly increases the probability of a forced change of the company’s CEO. Furthermore, when the degree of investor protection increases, directors are attributed a lower degree of responsibility in the event of a decline in earnings performance. Therefore, the relation between a decrease in profitability and a forced change of CEO is reduced.
Research limitations/implications
The research is focused on countries belonging to the European Economic Area and most of the investor protection indicators are derived from surveys. Concerning policy implications, the findings suggest that regulators should focus on the effective enforcement of investor protection mechanisms.
Social implications
The results confirm that characteristics at the country level have an impact on corporate decisions, highlighting the importance of increasing the degree of investor protection as a means of mitigating agency conflicts and improving stewardship.
Originality/value
To the best of the authors’ knowledge, this study explores a relatively underinvestigated topic as it uses investor protection indicators to jointly evaluate both direct and indirect effects on forced changes of CEO through cross-national research.
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Domenico Campa, Alberto Quagli and Paola Ramassa
This study reviews and discusses the accounting literature that analyzes the role of auditors and enforcers in the context of fraud.
Abstract
Purpose
This study reviews and discusses the accounting literature that analyzes the role of auditors and enforcers in the context of fraud.
Design/methodology/approach
This literature review includes both qualitative and quantitative studies, based on the idea that the findings from different research paradigms can shed light on the complex interactions between different financial reporting controls. The authors use a mixed-methods research synthesis and select 64 accounting journal articles to analyze the main proxies for fraud, the stages of the fraud process under investigation and the roles played by auditors and enforcers.
Findings
The study highlights heterogeneity with respect to the terms and concepts used to capture the fraud phenomenon, a fragmentation in terms of the measures used in quantitative studies and a low level of detail in the fraud analysis. The review also shows a limited number of case studies and a lack of focus on the interaction and interplay between enforcers and auditors.
Research limitations/implications
This study outlines directions for future accounting research on fraud.
Practical implications
The analysis underscores the need for the academic community, policymakers and practitioners to work together to prevent the destructive economic and social consequences of fraud in an increasingly complex and interconnected environment.
Originality/value
This study differs from previous literature reviews that focus on a single monitoring mechanism or deal with fraud in a broadly manner by discussing how the accounting literature addresses the roles and the complex interplay between enforcers and auditors in the context of accounting fraud.
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Francesca Francioli and Alberto Quagli
This chapter focuses on how changes in management control systems in a manufacturing company could be affected by the interplay of institutional forces and power mobilization over…
Abstract
Purpose
This chapter focuses on how changes in management control systems in a manufacturing company could be affected by the interplay of institutional forces and power mobilization over an extended period of time (1946–1975).
Methodology/approach
The chapter is grounded in the ‘hybrid’ theoretical framework developed by Yazdifar, Zaman, Tsamenyi, and Askarany (2008) which ties old institutional economics, new institutional sociology and power mobilization frameworks to provide a holistic view of a process of change. Historical analysis contributes to an understanding of the institutional context. The research has been developed by a longitudinal case study by using archival data.
Findings
The chapter provides us with an insight into management accounting change during an extended period of time dominated by political instability, economic turbulence, social tensions and change in the company’s presidency. The study suggests that changes were dependent on a complex set of relationships and preconditions, that the specificity of the company’s accounting controls was tied to isomorphism forms and power relationships internal to the company, while pressures from the external environment did not impact significantly on control systems architecture and functioning of the company.
Research limitations
The use of qualitative approach (as longitudinal case studies) is often criticized because its results are not generalizable and replicable.
Originality/value
The chapter clarifies the theoretical underpinnings of the institutional frameworks and power relationships and suggests areas for institutional and interdisciplinary research into management change.
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The active role that the tourism sector assumes in increasing the Gross Domestic Product is by now recognized and this fact makes the operators in the sector considerably more…
Abstract
The active role that the tourism sector assumes in increasing the Gross Domestic Product is by now recognized and this fact makes the operators in the sector considerably more responsible. So all the companies that operate in the sector need a continous managerial adaptation such that renders them able to answer, time after time, the demand necessities.
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Giuseppe Galassi and Richard Mattessich
The paper offers a survey of major Italian accounting scholars and their work for the period from 1900 to 1950. Apart from the late works of Rossi and Besta, the main focus is on…
Abstract
The paper offers a survey of major Italian accounting scholars and their work for the period from 1900 to 1950. Apart from the late works of Rossi and Besta, the main focus is on the contributions by Zappa, who undoubtedly dominated the scene. In this period, as well as later, most Italian accountants and “aziendalisti” adopted the so‐called “income system”. Although its premises originated with Fabio Besta, master of the so‐called “patrimonial or proprietorship system”, the Italian School under Zappa gave this system a new theoretical basis that differed fundamentally from that of Besta. Zappa also developed the dynamic aspect of accounting and business economics that still prevails in Italy. The paper also devotes attention to other Italian scholars, less well‐known abroad. In the area of cost accounting it concentrates on the views of De Minico and his disciple Amodeo, but also mentions other contributors. The final Section deals with Italian contributions to accounting history during this period
Francesca Francioli and Massimo Albanese
The purpose of this paper is to propose a model to disclose, report, and manage intellectual capital (IC) in a network of companies. To this end, it provides a monetary evaluation…
Abstract
Purpose
The purpose of this paper is to propose a model to disclose, report, and manage intellectual capital (IC) in a network of companies. To this end, it provides a monetary evaluation of core competencies (CCs), which may be defined as a bundle of various types of intangibles, aggregating their value into a network statement, called a network competence report (NCR).
Design/methodology/approach
The paper utilises the interventionist approach. The intervention was conducted by the authors and studied through joint reflections on documentation from meetings and individual, semi-structured interviews.
Findings
The NCR makes IC more transparent, thereby allowing companies and network managers to assess the strengths and weaknesses of CCs with a consequent potential insight into their potential earnings.
Research limitations/implications
This method is labour-intensive, especially in its first application, and the data collection requires considerable company involvement. The interventionist approach may have influenced the empirical results, which may be affected by subjectivity. As the paper involves a single network, care should be taken in generalising its empirical evidence.
Practical implications
In making IC management more effective, the NCR is valuable for academics, management, political authorities and, more generally, for a network’s stakeholders. The NCR is a tool for internal and external communication purposes, creating the conditions to mobilise IC. The proposed model supports the diagnosis of networks by providing CC maps and assessments relevant to their governance and competitiveness. The NCR depicts company and network CCs, allowing intertemporal comparisons that facilitate understanding of the effectiveness of the network’s actions and the importance of belonging to it.
Originality/value
This paper represents a first attempt to evaluate, in monetary terms, CCs in a network. Its value lies in its practical implications. Moreover, the paper investigates IC in applied terms, contributing to reducing the gap between theory and practice.
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Elisa Giacosa, Alberto Ferraris and Stefano Bresciani
The purpose of this paper is to create a conceptual model that practically assists companies to produce an effective voluntary external intellectual capital disclosure (ICD) and…
Abstract
Purpose
The purpose of this paper is to create a conceptual model that practically assists companies to produce an effective voluntary external intellectual capital disclosure (ICD) and valorises both the company’s and the stakeholders’ role. It illustrates the relationship among voluntary ICD mechanisms and it takes into consideration the feedback mechanism from external stakeholders.
Design/methodology/approach
Nielsen and Madsen’s (2009) study constitutes the framework of the conceptual model, as it refers to a “sender to receiver” model, which is particularly useful for the research.
Findings
An effective ICD may only be achieved through a combination of decisions taking into account each individual company’s needs and those of stakeholders’ ones. In addition, the dimensions on which the conceptual model is based are already in use in other widespread disclosure models, and this favours the company.
Research limitations/implications
Limitations concern design features, recipients and validity of the conceptual model. In terms of theoretical implications, the model emphasizes an “integrated ICD” approach; in addition, the model is based on some dimensions which characterize widespread and general communication models already in use.
Practical implications
First, this relates to the production of an effective ICD when considered as “one-way information”, from the company to the stakeholders. Second, this relates to the interaction between the company and its stakeholders, within a dyadic exchange.
Originality/value
The conceptual model is based on some dimensions which characterize widespread and general communication models already in use, which in the model are applied to ICD. Therefore, companies may favour making an ICD, as they are already confident and familiar with these dimensions.
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