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Article
Publication date: 5 August 2022

Walid Ben-Amar, Breeda Comyns and Isabelle Martinez

The purpose of this paper is to reflect on how climate change risk reporting might evolve in various world regions in the post COVID-19 pandemic era.

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Abstract

Purpose

The purpose of this paper is to reflect on how climate change risk reporting might evolve in various world regions in the post COVID-19 pandemic era.

Design/methodology/approach

Using a multiple-case study approach and adopting an institutional theory lens, we assess whether the pandemic is likely to strengthen or weaken institutional pressures for climate change risk disclosures and predict how climate-related risk reporting will evolve post-pandemic.

Findings

The authors find that climate change risk reporting is likely to evolve differently according to geographical location. The authors predict that disclosure levels will increase in regions with ambitious climate policy and where economic stimulus packages support sustainable economic recovery. Where there has been a weakening of environmental commitments and economic stimulus packages support resource intensive business, climate change risk reporting will stagnate or even decline. The authors discuss the scenarios for climate change risk reporting expected to play out in different parts of the world.

Originality/value

The authors contribute to the nascent literature on climate change risk disclosure and identify future directions in the wake of the COVID-19 pandemic.

Details

Accounting, Auditing & Accountability Journal, vol. 36 no. 2
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 1 December 1999

Isabelle Martinez

Summarizes previous research on the links between share prices, accounting earnings and fundamentals (i.e. financial variables); identifies value‐relevant fundamentals used by…

775

Abstract

Summarizes previous research on the links between share prices, accounting earnings and fundamentals (i.e. financial variables); identifies value‐relevant fundamentals used by analysts and assesses their usefulness by using principal components analysis on 1992‐1996 data for 50 French industrial firms. Finds three important factors (profitability ratios, returns/leverage and working capital/financial balance) which can be used in conjunction with two macroeconomic variables (inflation and change in real gross national product) to explain return variability.

Details

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

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Article
Publication date: 1 January 2003

Isabelle Martinez

The role of accounting information in setting security prices is one of the most fundamental issues in accounting and finance. The purpose of this study is to extend the research…

352

Abstract

The role of accounting information in setting security prices is one of the most fundamental issues in accounting and finance. The purpose of this study is to extend the research on the value relevance of accounting numbers in three important directions. Firstly, we consider the French context and analyze if earnings and/or cash flows are relevant to explain stock returns. Secondly, we test whether the explanatory power of accounting variables can be improved by using a nonlinear specification. Thirdly, we investigate how firm‐specific attributes such as size, debt level and firm life‐cycle influence the relative relevance of accounting measures (earnings and cash flows). Our results support a nonlinear relationship between stock returns and accounting variables. They indicate also that the relevance of earnings is conditional on size, debt level and life cycle of the firm. In contrast, the earnings change reveals more information when the firms are large, mature or characterized by a low degree of debt. These results are consistent with difference in earnings persistence between firms. With regards to cash flows, we find that they do not reveal additional information beyond that contained in earnings.

Details

Review of Accounting and Finance, vol. 2 no. 1
Type: Research Article
ISSN: 1475-7702

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Article
Publication date: 1 March 2002

Isabelle Martinez

Outlines the three theories which link multinationality to share value (internalization, imperfect capital markets and managerial objectives), reviews the relevant research and…

849

Abstract

Outlines the three theories which link multinationality to share value (internalization, imperfect capital markets and managerial objectives), reviews the relevant research and hypothesizes that a multinational’s degree of internalization is positively related to its accounting value (q‐value). Tests this using 1994‐1998 data on French listed companies and presents the results which support the hypothesis, the existence of a size effect (smaller firms have higher q‐values) and leverage effect (higher debts are linked with lower q‐values), but sow no significance in the proportion of intangible assets; i.e. they support the imperfect capital markets theory but not the internalization theory. Considers consistency with other research and opportunities for further research.

Details

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

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Book part
Publication date: 23 June 2022

Rosalina Torres-Ortega and Carlos Alberto Santamaria-Velasco

COVID-19 has spread so quickly and uninterruptedly that it has put great pressure on the capacities of emerging countries, especially the Latin America area. Its impacts that will…

Abstract

COVID-19 has spread so quickly and uninterruptedly that it has put great pressure on the capacities of emerging countries, especially the Latin America area. Its impacts that will have on businesses and entrepreneurs, it can be inferred that the duration of this crisis is still uncertain; thus, the aim on this chapter is to aggregate the current knowledge on how COVID-19 has impacted the entrepreneurship, and their expectations in the short and medium term. We examined 37 articles published between 2020 and 2021. To develop the discussion, we conducted descriptive review including year, affiliation of the first author, type of study, research methods in reviewed papers, and the origin of the empirical sample. We follow our thematic analysis within four broad categories: (1) crisis; (2) digitalization; (3) education; and (4) employment. Our results show that the call to address grand challenges, particularly relate to digitalization, public policies focused on supporting entrepreneurs and education in entrepreneurship in the Latin America context.

Details

The Emerald Handbook of Entrepreneurship in Latin America
Type: Book
ISBN: 978-1-80071-955-2

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Article
Publication date: 6 November 2023

Hanene Kheireddine, Isabelle Lacombe and Anis Jarboui

This study elucidates the interactive relationship of sustainability assurance (SA) quality with corporate environmental sustainability performance (CESP) and firm value and…

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Abstract

Purpose

This study elucidates the interactive relationship of sustainability assurance (SA) quality with corporate environmental sustainability performance (CESP) and firm value and explores the moderating impact of CESP on the SA quality–firm value relationship.

Design/methodology/approach

The sample comprises 320 firm-year observations of 40 companies listed on the Cotation Assistée en Continu (CAC 40) from 2010 to 2019. The authors use the simultaneous equations model to capture the CESP and SA quality–firm value relationship and apply the three-stage regression and generalised method of moments approaches to address possible endogeneity.

Findings

The results show that CESP, as assessed by International Organisation for Standardisation (ISO) 14001 certification, has a significant positive effect on firm value, the relevance of which implies that in the case of good environmental performance, society's perception of a firm is much more favourable; consequently, the firm is likely to be rewarded with a premium value in capital markets. In addition, environmental performance has a stronger interaction with SA quality, acting as a moderator variable; thus, greater SA quality signals credibility owing to increased eco-efficiency. The authors interpret their findings within a multi-theoretical framework that draws insights from legitimacy, stakeholders and signalling theoretical perspectives.

Originality/value

This study contributes to the literature by re-examining the relationship between SA quality and firm value. It also provides new evidence of the moderating effect of CESP on the SA quality–firm value nexus. Specifically, this study explores the joint effects of credibility and eco-efficiency on market confidence in sustainability information. The authors use a simultaneous equation model to capture the reciprocal association between SA quality and firm value, whereas prior studies on SA quality and market performance have frequently used single-equation regression. The authors also find that CESP positively moderates the relationship between SA quality and firm value. Including CESP and exploring the moderating impact of eco-efficiency on the SA quality–firm value relationship is a novel approach.

Details

Benchmarking: An International Journal, vol. 31 no. 10
Type: Research Article
ISSN: 1463-5771

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Article
Publication date: 28 November 2023

Hanen Khaireddine, Isabelle Lacombe and Anis Jarboui

Although the association between sustainability assurance (SA) quality and firm value has been examined in previous studies, the moderating relationship is novel in this study and…

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Abstract

Purpose

Although the association between sustainability assurance (SA) quality and firm value has been examined in previous studies, the moderating relationship is novel in this study and highlights the effect of corporate environmental sustainability performance (CESP) on the relationship between SA quality and firm value. This study aims to examine whether such an effect is strengthened or weakened by eco-efficiency, as measured by ISO 14001 certification, aggregate CESP score and each individual dimension of CESP (emission reduction [ER], resource reduction [RR] and product innovation [PI]).

Design/methodology/approach

The sample includes 40 companies in Euronext Paris with the largest market capitalisations (the Cotation Assistée en Continu 40 [CAC 40] index) from 2010 to 2020. The authors apply the feasible generalised least squares regression technique to estimate all the regression models. Because observed associations may be biased by reverse causation or self-selection, the authors use the instrumental variable approach and Heckman two-stage estimation.

Findings

The results show that SA quality had a positive and significant effect on firm value. Second, the authors demonstrate that CESP, as assessed by ISO 14001 certification, has a stronger interaction with assurance quality and acting as a moderator variable. Using the ASSET4 scores, an alternative proxy for CESP, the authors find inconsistent evidence regarding the impact of CESP attributes. The CESP and ER scores are homogeneous and have a positive effect on firm value. However, the PI and RR CESP attributes are not homogenous and do not have the same interactive effect on firm value. The results are robust to the use of an instrumental variable approach and the Heckman two-stage estimation procedure.

Research limitations/implications

Policy implications: Regulators may be interested in the findings when considering current and future assurance requirements for sustainability reporting, and shareholders when considering SA as an investment choice criterion. The insights into and enhanced understanding of the incentives for obtaining high SA quality can help policymakers develop effective policies and initiatives for SA. Considering the possible improvements in sustainability performance when obtaining a high level of sustainability verification, governments need to consider mandating SA.

Practical implications

Firms receive clear confirmation of the importance of investing in SA quality. Financial markets do not evaluate SA dichotomously but reward companies with higher SA quality because of the greater credibility it provides. Firms should allocate a significant percentage of their annual budgets and other relevant resources to environmental training and development programmes to improve and maintain environmental performance. If they care about environmental issues, they must announce this by issuing sustainability reports and seeking assurance of the information disclosed. High-quality assurance not only has a significant effect on investors’ investment reliability judgements but also the perceived credibility of environmental performance fully moderates the effect of assurance on these judgements.

Social implications

This study has social implications; the authors find that the French market rewards firms that provide a high-quality assurance to guarantee the integrity of their sustainability reports. Therefore, by incorporating environmental sustainability into their financial goals, a better assurance ultimately will urge firms to move from green washing to strategic goals, which is beneficial for society. Further, firms that focus on sustainability as part of their business strategy may attract employees who engage in green behaviours at work and create a friendlier and productive environment because it gives meaning to the work they do and keeps them engaged to the level needed to perform their jobs capably.

Originality/value

This study contributes to the literature by re-examining the relationship between SA quality and firm value. It also provides new evidence on the moderating effect of CESP on the SA quality–firm value nexus. Specifically, it explores the joint effect of credibility and eco-efficiency on market confidence in sustainability information.

Details

Sustainability Accounting, Management and Policy Journal, vol. 15 no. 2
Type: Research Article
ISSN: 2040-8021

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Article
Publication date: 30 May 2018

Salim L. Azar, Isabelle Aimé and Isabelle Ulrich

Mixed-target brands with strong gender identities, whether it be feminine or masculine, are not always successful at targeting both men and women, particularly in symbolic product…

3191

Abstract

Purpose

Mixed-target brands with strong gender identities, whether it be feminine or masculine, are not always successful at targeting both men and women, particularly in symbolic product categories. While attempting to maximize their sales for both targets, managers often struggle to capitalize on a single brand, and they hesitate between different naming strategies. This paper aims to build on brand gender literature and understand these brands’ (i.e. brands targeting both men and women) potential to adopt an endorsed brand strategy rather than a branded house strategy.

Design/methodology/approach

The paper uses a before/after experimental design to examine the effect that introducing a gender-incongruent endorsed brand (i.e. feminine endorsed brand name of masculine master brands and masculine endorsed brand name of feminine master brands) can have on consumers’ brand attitude.

Findings

First, adopting an endorsed brand strategy increases the perceived brand femininity of masculine master brands, but there is no increase in feminine master brands’ perceived brand masculinity. Second, this strategy has a negative impact on consumer attitude toward the master brand, with a stronger negative effect for feminine master brands than for masculine master brands, which is mediated by the brand gender perception change. Third, a negative feedback effect on the brand’s gender-congruent users is revealed.

Research limitations/implications

One limitation of this work is that the focus is on one sole extrinsic brand characteristic (i.e. brand name) in our experimental design, which artificially influences the relative brand name importance for consumers. Moreover, the studies offered a short text to introduce the renaming. This may have made the respondents focus on the brand more than they would have in real-world conditions.

Practical implications

This research provides many insights for masculine or feminine mixed-target brands managers in symbolic product categories, as it shows that changing from a branded house strategy to an endorsed brand strategy appears to be unsuccessful in the short run, regardless of master brand’s gender. Moreover, the study reveals negative feedback effects on the attitude toward the initial master brand, following its renaming, in the short run.

Originality/value

This research provides a warning to managers trying to gender-bend their existing brands because it can lead to brand dilution. It also emphasizes the asymmetrical evaluation of masculine vs feminine master brands, as manipulating a brand’s perceived masculinity appears very difficult to do successfully.

Details

European Journal of Marketing, vol. 52 no. 7/8
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 3 September 2024

Marco Savastano, Sorin Anagnoste, Isabelle Biclesanu and Carlo Amendola

E-commerce expands product and service reach, emphasizing the need for strategic market approaches to enhance e-service quality and drive sales growth. This paper aims to assess…

656

Abstract

Purpose

E-commerce expands product and service reach, emphasizing the need for strategic market approaches to enhance e-service quality and drive sales growth. This paper aims to assess the relationship between the perceived quality of e-commerce platforms (characterized by measures of order and return convenience), customer satisfaction with online shopping and repurchase intention from online stores as well as examine whether demographic variables such as age, gender and area of residency (urban/rural) influence the ratings of each of these variables.

Design/methodology/approach

An online, self-administered survey gathered 108 valid responses from e-commerce customers. Data were analyzed in Statistical Package for the Social Sciences (SPSS) and Analysis of Moment Structures (AMOS) through principal component analysis, confirmatory factor analysis and structural equation modeling (SEM) as well as correlation, descriptive statistics, difference of means tests and nonlinear regression.

Findings

Online shopping on e-commerce platforms is seen as convenient for both placing orders and managing returns. Additionally, consumers express satisfaction with their online shopping experiences and exhibit a strong intention to repurchase. The analysis revealed linear relationships between order convenience and customer satisfaction, between order convenience and repurchase intention and nonlinear relationships between return convenience, customer satisfaction and repurchase intention. No significant difference was found between the way the demographic variables rated the convenience, satisfaction and repurchase intention constructs.

Originality/value

This study contributes to the empirical literature on service quality in e-commerce by providing a streamlined model of the interactions among the factors as well as by isolating the nonlinear relationships and comparing results across three demographic variables. From a managerial standpoint, the findings suggest that strategies aimed at providing complete qualitative information and enhancing order and return convenience improve customer satisfaction and foster repurchase intention.

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Article
Publication date: 9 April 2024

Marco Savastano, Isabelle Biclesanu, Sorin Anagnoste, Francesco Laviola and Nicola Cucari

The contemporary business environment is characterised by an increasing reliance on artificial intelligence, automation, optimisation, efficient communication and data-driven…

781

Abstract

Purpose

The contemporary business environment is characterised by an increasing reliance on artificial intelligence, automation, optimisation, efficient communication and data-driven decision making. Based on the limited academic literature that examines the managerial perspective on enterprise chatbots, the paper aims to explore organisational needs and expectations for enterprise chatbots from a managerial perspective, assesses the relationship between managerial knowledge and managerial opinion regarding enterprise chatbots, and delivers a framework for integrating chatbots into the digital workforce.

Design/methodology/approach

The paper presents a quantitative design. An online, self-administered survey yielded 111 valid responses from managers in service and manufacturing organisations based on convenience and snowball sampling strategies. Given the nature of the data and the research questions, the research was conducted using principal component analysis, parallel analysis, correlation, internal consistency and difference in means tests.

Findings

This research explores the managerial perspective on enterprise chatbots from multiple perspectives (i.e., adoption, suitability, development requirements, benefits, barriers, performance and implications), presents a heat map of the average level of chatbot need across industries and business units, highlights the urgent need for education and training initiatives targeted at decision makers, and provides a strategic framework for successful chatbot implementation.

Practical implications

This study equips managers and practitioners dealing with enterprise chatbots with knowledge to effectively leverage the expected benefits of investing in this technology for their organisations. It offers direction for developers in designing chatbots that align with organisational expectations, capabilities and skills.

Originality/value

Insights for managers, researchers and chatbot developers are provided. The work complements the few academic studies that examine enterprise chatbots from a managerial perspective and enriches related commercial studies with more rigourous statistical analysis. The paper contributes to the ongoing discourse on decision-making in the context of technology development, integration and education.

Details

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

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