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Article
Publication date: 1 August 2016

Chan Du, Liang Song and Jia Wu

This paper aims to examine how banks’ accounting disclosure policies affect information content in stock prices and stock crash risk.

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Abstract

Purpose

This paper aims to examine how banks’ accounting disclosure policies affect information content in stock prices and stock crash risk.

Design/methodology/approach

This paper uses 1996-2013 as the sample period. The final sample includes 10,045 observations in 37 countries. This paper uses stock return synchronicity to measure information content in stock prices. This study uses the frequency difference between extremely negative and positive stock returns to measure stock crash risk. To measure the level of bank accounting disclosure, this research follows Nier and Baumann (2006) to construct an aggregate disclosure index based on inclusions and omissions of a series of items in a bank’s annual accounting reports.

Findings

This paper finds that banks’ stocks have lower stock return synchronicity and fewer extremely negative returns if banks have higher levels of financial statement disclosure. These results suggest that banks’ stocks have higher information content and lower crash risk if banks’ information environment is more transparent.

Originality/value

Overall, this paper provides new insight about how to increase banks’ transparency and the safety of the banking industry, which is beneficial to economic growth. To increase banks’ transparency and reduce the possibility of extremely negative stock returns, one way to regulate banks is to increase their accounting disclosure. In addition, the extant literature (Chen et al., 2006, Durnev et al., 2003, 2004; Wurgler, 2000) demonstrates that firms with lower stock return synchronicity have more transparent information environments and higher investment efficiency. Thus, this paper finds that higher levels of bank accounting disclosure are associated with lower stock return synchronicity, which further reduces banks’ opacity and increases banks’ investment efficiency. Finally, compared to business firms, stock crash risk has much direr consequences because one bank’s stock crash will affect overall financial stability. Thus, it is important for authorities to know the effects of accounting disclosure on bank stock crash risk.

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Pacific Accounting Review, vol. 28 no. 3
Type: Research Article
ISSN: 0114-0582

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Article
Publication date: 1 April 1991

Anne‐Marie Willis

La réflexion à laquelle nous appellent les changements qualitatifs qui influenceront la croissance mondiale du tourisme à l'horizon de l'an 2000 redonnerait‐elle une nouvelle…

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Abstract

La réflexion à laquelle nous appellent les changements qualitatifs qui influenceront la croissance mondiale du tourisme à l'horizon de l'an 2000 redonnerait‐elle une nouvelle actualité aux analyses et aux finalités d'un développement touristique harmonisé, pour lesquelles “harmoniser” signifie, dans le cas du développement, “mettre en accord les éléments, les rapports, les actions du milieu concerné avec les éléments, les rapports, les actions de l'extérieur qui interviennent dans ce milieu ou influent sur lui, afin de donner la plus grande faveur aux compatibilités”.

Details

The Tourist Review, vol. 46 no. 4
Type: Research Article
ISSN: 0251-3102

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Article
Publication date: 4 April 2023

João J. Ferreira, Cristina I. Fernandes, Pedro Mota Veiga and Stephan Gerschewski

This study holds the objective of evaluating the impact of formal (e.g. ease of doing business score, start-up procedures to register a business, property rights) and informal…

396

Abstract

Purpose

This study holds the objective of evaluating the impact of formal (e.g. ease of doing business score, start-up procedures to register a business, property rights) and informal (e.g. school life expectancy, collaboration between companies and human capital) institutions on the economic performance of countries in conjunction with the mediating effect of entrepreneurial activities and social performance.

Design/methodology/approach

The authors collected quantitative, secondary data from a range of different sources, specifically the World Bank (WB), Global Entrepreneurship Monitor (GEM), World Economic Forum (WEF), Freedom House (FH) and Doing Business (DB) for the years between 2016 and 2018. The authors deployed a quantitative approach based on estimating structural equation models according to the Partial Least Squares (PLS) method.

Findings

The authors find that institutions, whether formal or informal, impact positively on economic and social performance with entrepreneurial activities positively mediating the relationship between informal institutions and economic performance and social performance.

Practical implications

The study research holds key implications for strengthening institutional theory. The authors find that our empirical results draw attention to the impact that institutions and their functioning can have on economic performance. Through this alert, the authors aim for researchers, politicians and other diverse decision-makers involved in public policies to prioritise not only the good working of institutions but also fostering entrepreneurship, in order to boost the resulting economic performance.

Originality/value

The study research contributes to the literature by testing the model that links institutions, entrepreneurial activity and economic performance. The authors also help policymakers to become aware of the importance that the quality of institutions has on entrepreneurial activity, and, consequently on economic performance.

Details

International Journal of Entrepreneurial Behavior & Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-2554

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Article
Publication date: 26 December 2024

Zhenkuo Ding, Xiaoying Yang, Sheng Huang and Xiaohua Ouyang

The aim of this paper is to investigate (1) whether the different dimensions of internationalization experience have different effects on internationalization speed? (2) And how…

61

Abstract

Purpose

The aim of this paper is to investigate (1) whether the different dimensions of internationalization experience have different effects on internationalization speed? (2) And how the degree of digitalization plays a moderating role in these relationships?

Design/methodology/approach

The authors test the hypotheses on a sample of 431 Chinese listed companies export data from 2007 to 2016, using multiple regression analysis.

Findings

The international expansion experience to developed economies will accelerate the internationalization speed of MNCs, while international expansion experience to emerging economies has an inverted U-shaped relationship with internationalization speed. The digitalization degree weakens the relationship between international experience and internationalization speed, whether it is international expansion experience to developed or emerging economies.

Originality/value

By decomposing the dimensions of international experience and considering the degree of digitalization as a new moderating variable, the paper helps to clarify the debate on the relationship between international experience and speed of internationalization, thus contributing to the internationalization speed literature and the digital technology perspective. Revealing the process of international experience affecting internationalization speed has implications for MNCs to achieve high-quality and rapid internationalization.

Details

Management Decision, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 1 March 2000

DEREK H.T. WALKER and MARK W. VINES

Construction time performance (CTP) factors recently identified in work commissioned by the Construction Industry Institute Australia (CIIA) indicate that project team…

577

Abstract

Construction time performance (CTP) factors recently identified in work commissioned by the Construction Industry Institute Australia (CIIA) indicate that project team effectiveness significantly influences CTP. Project complexity also was found to significantly contribute to CTP. However, no residential projects were studied in that survey. This paper reports upon CTP research undertaken into Australian multi‐unit residential construction that fills this theory gap. Results indicate that the construction management (CM) team's effectiveness in managing theconstruction process has a major but not predominant role in influencing CTP. Team communication effectiveness and teamwork factors are also essential factors influencing CTP. Other factors found to affect CTP include: design team's management style; intra‐team working relationships; the degree of experience and expertise for the same type and size of project; procurement method; and the level of the CM team's current workload.

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Engineering, Construction and Architectural Management, vol. 7 no. 3
Type: Research Article
ISSN: 0969-9988

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Article
Publication date: 1 December 2010

Priscilla Ananian and Bernard Declève

Brussels Capital Region has to deal with urban conflicts arising from the different kinds of land uses. On the one hand the process of metropolisation has intensified the inner…

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Abstract

Brussels Capital Region has to deal with urban conflicts arising from the different kinds of land uses. On the one hand the process of metropolisation has intensified the inner city's land use through residential, economic and urban development and on the other hand this same process has contributed to the expansion and sprawling of the city beyond its administrative borders. The city's main challenge is to ensure the cohabitation of different urban forms and densities in a multi-scale level related to metropolitan and local functions (Ananian P. 2010). Brussels, originally an industrial city, has become an administrative centre, generating a series of disaffected areas. Urban regeneration and sustainable development policies aim to improve the standard of living through urban, social and economic enhancements. Indeed, these policies deal with the construction, renovation and requalification of obsolete areas into new dwelling complexes. In this context, the present article shows the results of a broader research commissioned by the Brussels Capital Region on residential densification between 1989 and 2007(Declève B. Ananian P. et al 2009). Through the analysis of this inventory, we have identified three main techniques concerning the requalification of old places into residential uses: firstly the reurbanisation of brownfields generated by the delocalisation of large facilities; secondly the requalification and reconversion of isolated buildings (abandoned and obsolete industrial and office buildings) and last but not least, the recycling of terrains merged into the urban fabric of old neighbourhoods. Following two methodological approaches (morphological observation and analysis of social perception), this research has shown us that, in the last twenty years of housing production in Brussels, the main abandoned buildings and sites that were available were requalified, increasing density and improving urbanity through the diversity of the urban forms adopted for the public and private spaces.

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Open House International, vol. 35 no. 4
Type: Research Article
ISSN: 0168-2601

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Article
Publication date: 1 July 1999

Peter S. Rose

Notes increasing consolidation of the banking industry in the USA, Western Europe and Japan; and presents a study of 1980‐1994 acquisitions of US banks by large interstate banking…

651

Abstract

Notes increasing consolidation of the banking industry in the USA, Western Europe and Japan; and presents a study of 1980‐1994 acquisitions of US banks by large interstate banking firms. Considers possible motives for cross‐border expansion, reviews relevant research and compares the performance of target banks with their local competitors and their buyers; and buyers’ performance with their competitors. Finds that most buyers are located in rich, densely populated states and most targets in states which have traditionally restricted bank branching activity; that buyers and targets have very different performance profiles (although some differences gradually reduce after acquisition); and that local market influences have a greater effect than common ownership. Concludes that targets are selected for their location and expected future performance, with possible diversification benefits.

Details

Managerial Finance, vol. 25 no. 7
Type: Research Article
ISSN: 0307-4358

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Book part
Publication date: 29 June 2016

Mickey Losinski and Robin Parks Ennis

Repetitive and restrictive behaviors are one of the core components of diagnosing a child with an autism spectrum disorder. These behaviors may take the form of repetitive motor…

Abstract

Repetitive and restrictive behaviors are one of the core components of diagnosing a child with an autism spectrum disorder. These behaviors may take the form of repetitive motor movements or vocalizations, often referred to as stereotypical behaviors. These behaviors can impede the child’s educational and social opportunities, and have thus become a target for intervention. A variety of interventions have been used to reduce stereotypical behaviors with varied success. One of the most oft-used interventions is deep pressure therapy (e.g., weighted vests), a practice that enjoys substantial anecdotal but little empirical support. Conversely, interventions based on functional behavior assessment (FBA) have been shown to reduce these behaviors, but may not be used frequently within schools. Therefore, this chapter will provide a brief overview of stereotypical behaviors and compare these two intervention approaches, with a clear preference for FBA-based interventions due to their stronger empirical support.

Details

Instructional Practices with and without Empirical Validity
Type: Book
ISBN: 978-1-78635-125-8

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Article
Publication date: 30 August 2021

Isaac Akomea-Frimpong, Xiaohua Jin and Robert Osei-Kyei

Successful execution of public–private partnership (PPP) projects is the most desirable outcome to all stakeholders. Previous studies show that one of the topmost obstacles to…

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Abstract

Purpose

Successful execution of public–private partnership (PPP) projects is the most desirable outcome to all stakeholders. Previous studies show that one of the topmost obstacles to fulfil this desire on the project is financial risks. Nonetheless, inadequate holistic studies exist on linking the management of this challenge to the financial returns of the project. This study aims to develop a theoretical framework interrelating financial risks, financial controls and financial performance of PPP projects.

Design/methodology/approach

The theoretical framework is informed and supported by existing theories and previous empirical studies from construction management, finance and economics. The underlying theories captured in the framework were chosen for their relevance and applicability to PPP projects. The propositions developed from the analysis of the theories and the empirical literature are summarised in three main hypotheses and 26 operationalised sub-hypotheses.

Findings

The major elements of the framework include the financial risks and 12 sub-themes which are commonly experienced on PPP projects. Financial policies and procedures on controlling financial losses of the projects are also included in the framework. Lastly, this study creates financial criteria on the projects which are intrinsically embedded in the framework to serve as benchmark to support the measurement of financial success.

Research limitations/implications

This study is a theoretical review of classical theories and empirical studies, and therefore, not all researches and managerial controls have not been included in this framework due to restricted time and limited studies on the topic.

Practical implications

This paper would serve as a multidimensional guide to project managers to mitigate financial risks and hopefully enhance the financial success of PPPs. Theoretically, this paper outlines the dimensions of managing financial risks of PPPs that require valid and reliable measurement to test the interrelationships of the constructs by further studies in the construction research community.

Originality/value

This theoretical framework makes ambitious efforts to embrace multifaceted theories from different disciplines to shed light on holistic mechanisms to mitigate financial risks to improve financial returns of PPP projects.

Details

Journal of Facilities Management , vol. 20 no. 5
Type: Research Article
ISSN: 1472-5967

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Article
Publication date: 14 August 2021

Kwadwo Oti-Sarpong, Erika Anneli Pärn, Gemma Burgess and Mohamed Zaki

Government initiatives to improve construction have increasingly become more focused on introducing a repertoire of technologies to transform the sector. In the literature on…

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Abstract

Purpose

Government initiatives to improve construction have increasingly become more focused on introducing a repertoire of technologies to transform the sector. In the literature on construction industry transformation through policy-backed initiatives, how firms will respond to the demands to adopt and use innovative technologies and approaches is taken for granted, and there is scarcely any attention given to the institutional implications of transformation agenda. The purpose of this paper is to discuss these gaps and offer directions for future research.

Design/methodology/approach

Following a synthesis of literature on the UK’s industry transformation agenda, the authors use the concepts of institutional logics, arrangements, complexity and strategic responses to suggest seven research questions that are at the nexus of policy-backed transformation and institutional theory.

Findings

In this paper, the authors argue that increasing demands for the adoption and use of digital technologies, platforms, manufacturing approaches and other “industry-4.0”-related technologies will reconfigure existing logics and arrangements in the construction industry, creating a problem of institutional complexity for general contracting firms in particular.

Originality/value

The questions are relevant for our understanding of the nature of institutional complexities, change, strategic firm responses, field-level dynamics and implications for the construction industry in relation to the transformation agenda. This paper is positioned to spur future research towards exploring the consequences of industry transformation through the lens of institutional theory.

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