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Article
Publication date: 26 June 2019

Daniela Cristina dos Anjos Penela, Ana Isabel Morais and Amy M. Gregory

This study aims to take advantage of segment reporting to provide empirical evidence on the impacts of increasing the share of revenue generated from the timeshare segment in…

672

Abstract

Purpose

This study aims to take advantage of segment reporting to provide empirical evidence on the impacts of increasing the share of revenue generated from the timeshare segment in companies’ portfolios for firm value and profitability.

Design/methodology/approach

This paper examines data from five publicity traded hospitality companies that have a timeshare component and carries out different regression analysis using 69 observations ranging from 1998 to 2016.

Findings

The findings support the idea of an inverted U-shaped relationship between the degree of timeshare business (DOT) and firm value and profitability. However, for positive values of DOT, an increase of DOT consistently has a negative impact on firm value and accounting profitability.

Research limitations/implications

This study adds to previous findings through the addition of new variables and contemporary accounting practices. Though sufficient for the analyses conducted, the limited number of observations raises generalizability issues. Further research with larger data sets is advised.

Practical implications

This study implies that timeshare may continue to grow, but not as a segment in the lodging sector; rather as an industry mainly composed of timeshare-dedicated companies. As firms consider diversification or consolidation, this study may inform decisions related to potential firm value.

Originality/value

This study provides evidence to support previous literature related to spin-off activity in the lodging sector. Perhaps more importantly, this study adds value to research on firm value and profitability by extending traditional models and by developing a new “degree of business” variable using segment reporting.

Details

International Journal of Contemporary Hospitality Management, vol. 31 no. 8
Type: Research Article
ISSN: 0959-6119

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Article
Publication date: 21 October 2020

Ana Fialho, Ana Morais and Rosalina Pisco Costa

The purpose of this paper is to investigate whether the introduction of water security, in 2015, as a category in the Carbon Disclosure Project (CDP) Climate A-List, increases the…

605

Abstract

Purpose

The purpose of this paper is to investigate whether the introduction of water security, in 2015, as a category in the Carbon Disclosure Project (CDP) Climate A-List, increases the use of impression management (IM) strategies. The purpose is to analyze how companies reacted to programmes of voluntary disclosure of environmental information.

Design/methodology/approach

Mixed-methods research was developed, combining a qualitative and quantitative approach. This study first used a qualitative content analysis of 15 companies’ reports, from the materials sector, which was scored in the CDP Climate A-List, in 2017, to identify the IM strategies adopted. Next, this study conducted a quantitative analysis to test the mean differences of water references between years, industry and region.

Findings

Three types of IM strategies are identified (justification and commitment, self-promotion and authorization). The references identified as self-promotion strategy increased in 2016. This indicates companies reacted to the programmes for voluntary disclosure of environmental information by increasing strategies of legitimization and image promotion.

Research limitations/implications

Further research can be developed, focusing only on sustainability reports and extending the number of companies, the period and sectors under analysis.

Originality/value

This paper shows how the inclusion of a topic such as water security in an environmental ranking of companies, namely, CDP A-List, affects the use of IM strategies in voluntary disclosures.

Details

Meditari Accountancy Research, vol. 29 no. 3
Type: Research Article
ISSN: 2049-372X

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Article
Publication date: 10 September 2018

Ana Isabel Morais, Ana Fialho and Andreia Dionísio

The purpose of this paper is to provide empirical evidence regarding the classification of European countries based on accounting quality metrics. The authors investigate whether…

870

Abstract

Purpose

The purpose of this paper is to provide empirical evidence regarding the classification of European countries based on accounting quality metrics. The authors investigate whether the grouping of countries based on accounting quality levels differs from other classifications based on accounting practices or country-specific factors identified in previous studies.

Design/methodology/approach

The authors run panel data regressions for 2.078 European listed companies using value relevance and earnings smoothing metrics. The authors also apply cluster analysis to classify the countries.

Findings

The results suggest that the adoption of a common set of International Financial Reporting Standards (IFRS) did not lead to a similar level of accounting quality of financial information. The authors identified three clusters of countries that are not coincident with previous classifications.

Research limitations/implications

The results show that the adoption of different accounting practices allowed in IFRS does not necessarily influence accounting quality.

Practical implications

The results suggest that the way regulators decided to incorporate IFRS into national accounting systems is one issue that may be relevant in explaining the three clusters.

Originality/value

The paper provides empirical evidence that supports two theoretical assertions. The first is that a classification depends entirely on the characteristics used to represent the countries being classified. The second is that the adoption of a single set of accounting standards does not determine similar accounting practices and does not lead to similar levels of accounting quality.

Details

Journal of Applied Accounting Research, vol. 19 no. 3
Type: Research Article
ISSN: 0967-5426

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Article
Publication date: 31 October 2022

Rui Vicente Martins, Eulália Santos, Teresa Eugénio and Ana Morais

Business politics and social and economic policies in the past decades brought us to the inevitability of change. Foreign direct investment (FDI) plays a vital role in this change…

403

Abstract

Purpose

Business politics and social and economic policies in the past decades brought us to the inevitability of change. Foreign direct investment (FDI) plays a vital role in this change as it is a tool for international business management in a global world. The relationship between FDI and sustainability in sub-Saharan countries with lower incomes has not yet been sufficiently studied, so this study aims to bring some more conclusions to the discussion. Thus, the main objective is to understand if FDI effectively influences the so-called triple bottom line (TBL) pillars of sustainability.

Design/methodology/approach

With data from the World Bank regarding 20 sub-Saharan countries gathered between 2010 and 2018, this study analysed 34 indicators composing 11 United Nations Sustainable Development Goals (SDGs). Afterwards, the authors grouped them by the TBL pillars and evaluated the influence of FDI inflows on their scores using panel data models.

Findings

The results show a positive and significant correlation between the TBL pillars, with the highest correlation being between the environmental and economic pillars. On the other hand, FDI has no significant influence on the TBL pillars.

Practical implications

This study could improve foreign investment legislation/regulation in sub-Saharan African countries, potentially impacting the sustainability these investments should generate.

Social implications

This study contributes to understanding how FDI implies sustainability. The results suggest that governments, non-governmental organisations and other competent entities need to adjust their actions in these countries so that foreign companies sustainably exploit the resources.

Originality/value

This study brings to the current arena an emerging theme: FDI and sustainability in African countries, particularly in sub-Saharan countries. This subject in developing countries is still under-researched.

Details

Sustainability Accounting, Management and Policy Journal, vol. 14 no. 5
Type: Research Article
ISSN: 2040-8021

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Article
Publication date: 7 May 2019

Ana Isabel Morais and Inês Pinto

In 2009, the International Accounting Standards Board started revising International Accounting Standard (IAS) 19 to improve the requirements for managing the annual expense of a…

476

Abstract

Purpose

In 2009, the International Accounting Standards Board started revising International Accounting Standard (IAS) 19 to improve the requirements for managing the annual expense of a pension plan. The revised standard became effective in 2013. The purpose of this paper is to investigate what effect this revision had on managerial discretion. The paper also examines the implications of the revision on the value relevance of accounting information.

Design/methodology/approach

The authors use a sample of 72 firms listed on the FTSE 100 that have defined benefit plans for the period between 2009 and 2015. The authors use a regression discontinuity design to analyse the effect from the revision of IAS 19 on the choice of managers regarding the expected rate of return-on-plan assets. The paper also investigates whether firms with higher pension sensitivity are more likely to manage earnings upward before the revision of IAS 19. Further, the paper studies the value relevance of earnings after the revision of the accounting standard.

Findings

Consistent with predictions, the results show that the adoption of the revised IAS 19 limits the use of the expected rate of return on assets to manage the annual expense of defined benefit plans. This finding shows a sharp increase in the value relevance of earnings.

Practical implications

This finding is useful for users and preparers of financial statements and regulatory bodies as it identifies not only the influence of a change in the accounting standard for earnings management but also provides evidence on the consequences of managers’ discretion.

Originality/value

This paper provides direct evidence on the relationship between regulation and financial reporting discretion. It also provides evidence to accounting standard setters that the revision of IAS 19 improves the value relevance of financial information, which gives additional justification to the changes introduced by regulators.

Details

Accounting Research Journal, vol. 32 no. 1
Type: Research Article
ISSN: 1030-9616

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Article
Publication date: 24 November 2021

Luís César Ferreira Motta Barbosa, Otávio José de Oliveira, Marcio Cardoso Machado, Ana Clara Tomaz Morais, Patrícia Maria Bozola and Manuel Gilberto Freitas Santos

This study used a qualitative approach on five case studies in Brazilian industrial companies. The research used interviews, document analysis and on-site visits to collect and…

1271

Abstract

Purpose

This study used a qualitative approach on five case studies in Brazilian industrial companies. The research used interviews, document analysis and on-site visits to collect and analyze data. The companies were selected based on the following criteria: operating in the industrial sector, updating their quality management system (QMS) process to ISO 9001: 2015 and agreeing to participate in this study.

Design/methodology/approach

This article aims to investigate the strategies of industrial companies adopted for ISO-9001:2015 certification in light of the six major advances concerning the previous version. Thus, QMS of other organizations can incorporate identified lessons learned, whether certified or not.

Findings

The main finding of the research is the systematization of a set of lessons learned in the experiences of implementing the six significant advances of ISO 9001 concerning the previous version by industrial companies in the State of São Paulo in Brazil. These lessons can and should be used by other organizations to improve their QMSs.

Practical implications

The practices identified in this empirical research can serve as benchmarking to assist quality managers from other companies in QMS certification based on ISO 9001: 2015 or even those not certified but interested in updating their QMSs. Therefore, lessons learned can significantly minimize efforts to improve your projects, processes, products and services. These findings can also help industrial companies improve their production efficiency and effectiveness through quality improvement.

Originality/value

The main novelty of the research is the consolidation of theoretical and practical analysis of the main changes in the latest version of the ISO 9001 standards. The efforts to fulfill those changes result in lessons learned. The “lessons learned” will form a new block of knowledge that will subsidize theoretical (new research) and practical (formulation of a new ISO 9001 standard and helps quality managers improve their systems).

Details

Benchmarking: An International Journal, vol. 29 no. 8
Type: Research Article
ISSN: 1463-5771

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Article
Publication date: 4 May 2010

Ana Morais

The purpose of this paper is to investigate the determinants of the choice of the accounting method for recognising actuarial gains and losses of defined benefit plans.

1372

Abstract

Purpose

The purpose of this paper is to investigate the determinants of the choice of the accounting method for recognising actuarial gains and losses of defined benefit plans.

Design/methodology/approach

In the paper, a logit model is estimated in order to relate the dependent variable (actuarial gains and losses method) with some explanatory variables (size, industry, leverage, profitability, size of pension funds and the existence of actuarial gains or losses).

Findings

The results of this study indicate that size, industry, profitability and the existence of actuarial gains or actuarial losses are important determinants in the choice of the accounting method for actuarial gains and losses.

Research limitations/implications

The study only addresses the choice between the equity recognition method and the corridor method due to the small number of companies that adopted the profit or loss method (only eight observations).

Originality/value

This paper examines the recognition of actuarial gains and losses which can have an economically significant impact on companies' financial position and financial performance. This paper contributes to the accounting choice literature by exploiting the determinants of the choice of the accounting method for recognising actuarial gains and losses under IAS 19.

Details

Pacific Accounting Review, vol. 22 no. 1
Type: Research Article
ISSN: 0114-0582

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Article
Publication date: 2 August 2013

Teresa Pereira Eugénio, Isabel Costa Lourenço and Ana Isabel Morais

This study aims to identify the legitimacy strategies employed by one of the largest Portuguese cement companies to defend and downplay its sustainability performance and…

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Abstract

Purpose

This study aims to identify the legitimacy strategies employed by one of the largest Portuguese cement companies to defend and downplay its sustainability performance and activities related to two major controversies involving the company: co‐incineration and the location of the Outão plant.

Design/methodology/approach

A single case study methodology is employed for the empirical research. Sustainability reports were analysed in order to identify TimorL's sustainability disclosure practices, and semi‐structured interviews were conducted to complement the case analysis. This paper emphasises legitimacy theory and legitimacy repair strategies that were identified by Suchman.

Findings

Legitimacy strategies, including “don’t panic”; “create monitors”; “justify”; “disassociate” and “explain”, were identified in the actions TimorL took after the above‐mentioned controversies. The company initiated a series of actions to respond to the company's “crisis”. The conclusions of the study support the argument that sustainability strategies remain a powerful legitimacy tool.

Originality/value

The paper adds to the scarce research available on the sustainability disclosure and practices of companies by providing new empirical data. It contributes to a better understanding of how companies behave when they are faced with legitimacy gaps and how they act to restore their legitimacy.

Details

Management of Environmental Quality: An International Journal, vol. 24 no. 5
Type: Research Article
ISSN: 1477-7835

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Article
Publication date: 8 June 2010

Teresa Eugénio, Isabel Costa Lourenço and Ana Isabel Morais

The last years have witnessed a growth in interest in social and environmental questions. Many companies have developed environmental management and auditing systems and altered…

3620

Abstract

Purpose

The last years have witnessed a growth in interest in social and environmental questions. Many companies have developed environmental management and auditing systems and altered their social and environmental disclosure practices. These developments resulted in the growth of research focusing on the analysis of information disclosed by companies. The purpose of this study is to contribute a reflection on the papers that have been published on social and environmental accounting from 2000 to 2006.

Design/methodology/approach

A literature review of the papers examining social and environmental matters published in selected accounting journals allows the identification of the key content issues, methodologies and research questions which have been predominant in the social environmental accounting research (SEAR) area. It also enables one to pin‐point areas for future research.

Findings

The content was examined and classified in four groups: social and environmental accounting systems; social and environmental disclosures; regulation impact; and relations among environmental disclosure and environmental performance. For each group, the research method; data origins and type of data; industry and country were identified. Almost all the studies are based on content analysis and interviews. Data are collected not only from the financial statements but also from other types of information disclosed by companies. In many cases, industry activities are selected carefully and most of the studies used data from the UK, Australia, and the USA.

Originality/value

The paper provides a contribution to the development of the SEAR area, exploring different views. It also helps schools to identify areas for future research.

Details

Social Responsibility Journal, vol. 6 no. 2
Type: Research Article
ISSN: 1747-1117

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Article
Publication date: 1 January 2014

Ana Isabel Morais

The purpose of this paper is to review empirical research on the determinants of leasing.

2304

Abstract

Purpose

The purpose of this paper is to review empirical research on the determinants of leasing.

Design/methodology/approach

The paper reviews previous literature that has focused on studying the determinants of leasing decisions. It also discusses the determinants of the lease‐buy decision and the determinants of the choice between finance leases and operating leases.

Findings

Previous empirical studies show that there is no consensus as to whether debt and leases are complements or substitutes. However, there are some factors that affect the choice between leases and debt, such as size, taxes, nature of assets, financial constraints and management compensation. Leases tend to be more prevalent in some industries (such as air transport, retailing and services and utilities) than in others, and companies tend to lease assets that are less specific, of general usage and more liquid. Previous studies also show that higher leverage companies tend to use leases rather than other forms of financing.

Research limitations/implications

The paper only addresses the determinants of leasing. Previous studies about leases address other areas such as the lease accounting standards and the economic consequences and valuation of leases, which are not discussed in this paper.

Originality/value

The paper presents an exhaustive review of previous literature on the determinants of leasing. Evidence from research on this topic is likely to be helpful in capital market investment decisions, accounting standard setting and decisions on corporate financial disclosure.

Details

Academia Revista Latinoamericana de Administración, vol. 26 no. 3
Type: Research Article
ISSN: 1012-8255

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