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Article
Publication date: 1 March 1996

Fouad K. AlNajjar

This paper examines accounting practice and its environment in one European country, Belgium, whose capital is home to the European Union (EU). Belgium's national accounting…

80

Abstract

This paper examines accounting practice and its environment in one European country, Belgium, whose capital is home to the European Union (EU). Belgium's national accounting system has witnessed dramatic improvements in the last two decades as it has moved toward a highly standardized accounting system similar to France. This article traces what one author calls “the Belgian accounting revolution,” based on professional literature and personal interviews with senior partners of major accounting firms and academics in Belgium. Little is known in North America about accounting in Belgium. This article intends to fill this gap and provides some insights on accounting in this vital European country.

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International Journal of Commerce and Management, vol. 6 no. 3/4
Type: Research Article
ISSN: 1056-9219

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Article
Publication date: 1 March 2002

Ahmed Riahi‐Belkaoui and Fouad K. Alnajjar

Summarizes previous research on the links between multinationality and earnings persistence and presents a study which applies the autoregressive, integrated, moving‐average time…

511

Abstract

Summarizes previous research on the links between multinationality and earnings persistence and presents a study which applies the autoregressive, integrated, moving‐average time series model to 1990‐1999 data on the largest US multinationals. Explains the methodology and presents the results, which show a negative relationship between the level of multinationality and earnings persistence measures. Puts this down to a negative link between multinationality and performance; and reduced risk through international diversification and profit stabilization.

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Managerial Finance, vol. 28 no. 3
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 March 2001

Fouad K. AlNajjar and Ahmed Riahi‐Belkaoui

Summarizes previous research on factors affecting the market value of a firm’s equity and puts forward a mathematical model based on the idea that its investment opportunity set…

509

Abstract

Summarizes previous research on factors affecting the market value of a firm’s equity and puts forward a mathematical model based on the idea that its investment opportunity set is positively related to reputation, multinationality, size and profitability; and negatively related to leverage and systematic risk. Tests this on 1987‐1993 data on US multinational companies, explains the methods used and shows that the relationship is as hypothesized, although the results depend on the choice of surrogate measures for the variables. Calls for further research.

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Managerial Finance, vol. 27 no. 3
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 December 1999

Fouad K. AlNajjar and Ahmed Riahi‐Belkaoui

Presents a study of the importance of multinationality in predicting firm valuation and profitability using Ohlson’s (1988, 1991) valuation model as a basis for model development…

1612

Abstract

Presents a study of the importance of multinationality in predicting firm valuation and profitability using Ohlson’s (1988, 1991) valuation model as a basis for model development. Tests these models on 1987‐1992 US data and compares them with predictions based on current return on equity. Presents the results, which suggest that the degree of internationalization helps to explain cross‐sectional differences in market value, but does not provide much extra information on future profitability.

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Managerial Finance, vol. 25 no. 12
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 January 2002

Fouad K. AlNajjar and Ahmed Riahi‐Belkaoui

The article hypothesizes that the level of reputation affects both the informativeness of earnings and the magnitude of discretionary accounting accrual adjustments. The…

197

Abstract

The article hypothesizes that the level of reputation affects both the informativeness of earnings and the magnitude of discretionary accounting accrual adjustments. The hypothesis exploits the following: the positive relationship between reputation and firms' risk‐return profiles, and managers' incentives in using discretionary accounting accrual adjustments. Results show that reputation is positively associated with earnings' explanatory power for returns, and related to the magnitude of accounting accrual adjustments.

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Review of Accounting and Finance, vol. 1 no. 1
Type: Research Article
ISSN: 1475-7702

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Article
Publication date: 1 July 2006

Ahmed Riahi‐Belkaoui and Fouad K. AlNajjar

The purpose of this paper is to identify and test the determinates of earnings opacity internationally. The determinates are hypothesized to be the elements of social, economic…

896

Abstract

Purpose

The purpose of this paper is to identify and test the determinates of earnings opacity internationally. The determinates are hypothesized to be the elements of social, economic and accounting order in each of the 34 countries of the study.

Design/methodology/approach

A sample of 34 countries’ data was collected and data estimation and several statistical and correlations were performed.

Findings

Earnings opacity internationally is negatively related to the levels of economic freedom and quality of life, and positively related to rule of law, economic growth and level of corruption. Further, the findings are surprising that the level of disclosure, the number of auditors per 100,000 inhabitants and the adoption of international accounting standards (as elements of the accounting order) are not significantly related to earnings opacity internationally. It is the social and economic climate rather than the technical accounting climate that is at the core of the lack of accounting quality in general and earnings opacity in particular.

Originality/value

Elements of accounting order do not seem to affect earnings opacity as much as social and economic characteristics. It is the economic and the social context rather than the technical that explicates better the level of accounting quality in general and the level of earnings opacity in particular in a given country. Earnings opacity is higher as a result of higher rule of law, economic growth and level of corruption, and lower as result of higher level of economic freedom and quality of life.

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Review of Accounting and Finance, vol. 5 no. 3
Type: Research Article
ISSN: 1475-7702

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Book part
Publication date: 20 December 2000

Fouad K. Alnajjar

This study investigates the patterns of social responsibility disclosures (SRDs) by the U.S. Fortune 500 firms. Content analysis is used to measure the extent of monetary…

Abstract

This study investigates the patterns of social responsibility disclosures (SRDs) by the U.S. Fortune 500 firms. Content analysis is used to measure the extent of monetary, quantitative, and narrative disclosure in the areas of community, human resources, environment, and product safety. The relations between a number of corporate characteristics and these areas and types of SRDs are tested. The findings of this study contrast sharply with those of Cowen et al. (1987), who found that corporate profitability is an insignificant factor influencing social disclosure and that corporate size is negatively correlated with total disclosure. This research found evidence of a highly significant effect of profitability on total disclosure and that total disclosure is a function of corporate size. Size is also found to correlate with major areas and types of disclosures. These findings have direct implications for accounting and financial reporting policy and for future research on SRDs.

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Advances in Environmental Accounting & Management
Type: Book
ISBN: 978-0-76230-334-2

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Book part
Publication date: 20 December 2000

Abstract

Details

Advances in Environmental Accounting & Management
Type: Book
ISBN: 978-0-76230-334-2

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Article
Publication date: 1 December 2001

Fouad AlNajjar and Ahmed Riahi‐Belkaoui

Uses previous research on firms’ potential investment (i.e. growth) opportunities, profitability and political cost/risk to suggest that a high level of growth opportunities may…

2459

Abstract

Uses previous research on firms’ potential investment (i.e. growth) opportunities, profitability and political cost/risk to suggest that a high level of growth opportunities may encourage managers to use income reducing accruals. Tests this on 1987‐1990 data from a sample of US multinationals classified into high or low growth groups. Explains the methods used to estimate discretionary accruals and to measure the investment opportunity set. Presents the results which suggest that discretionary accruals are higher in high growth firms; and support the political cost hypothesis of Watts and Zimmerman (1978) and the political risk hypothesis of Monti‐Belkaoui et al (1999)

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Managerial Finance, vol. 27 no. 12
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 March 1995

Nicholas C. Mangos and Neil R. Lewis

The lack of explicit consideration in positive accounting studiesof managers and their social environment leads to a failure to analysethe social factors that influence managers�…

4340

Abstract

The lack of explicit consideration in positive accounting studies of managers and their social environment leads to a failure to analyse the social factors that influence managers′ accounting choices. Argues that based on a socio‐economic paradigm, consideration should be given to a socio‐economic consideration of the relationship between corporate social reporting and managers′ selection of accounting practices. Criticizes a purely economic approach to understanding and analysing motives managers may have in choosing accounting policy. Social responsibility reporting is suggested as a corporate social response to influences on managers and their choice of accounting policy. In analysing prior research which has empirically tested the relationship between social responsibility reporting and reported financial performance, a potential relationship between reported financial performance and accounting policy choice is identified and developed. This contributes to socio‐economic research by expanding positive accounting theory to include explicit social variables.

Details

Accounting, Auditing & Accountability Journal, vol. 8 no. 1
Type: Research Article
ISSN: 0951-3574

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