Discusses the initiation of change in response to tighter competition, shorter lead‐times, and increasingly sophisticated customers, concentrating on the creation of a clearly…
Abstract
Discusses the initiation of change in response to tighter competition, shorter lead‐times, and increasingly sophisticated customers, concentrating on the creation of a clearly focused and effectively driven process. Details the importance of good data to company leaders in focusing, supporting and maintaining change and in retaining the future.
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Tamer Elshandidy, Philip J. Shrives, Matt Bamber and Santhosh Abraham
This paper provides a wide-ranging and up-to-date (1997–2016) review of the archival empirical risk-reporting literature. The reviewed papers are classified into two principal…
Abstract
This paper provides a wide-ranging and up-to-date (1997–2016) review of the archival empirical risk-reporting literature. The reviewed papers are classified into two principal themes: the incentives for and/or informativeness of risk reporting. Our review demonstrates areas of significant divergence in the literature specifically: mandatory versus voluntary risk reporting, manual versus automated content analysis, within-country versus cross-country variations in risk reporting, and risk reporting in financial versus non-financial firms. Our paper identifies a number of issues which require further research. In particular we draw attention to two: first, a lack of clarity and consistency around the conceptualization of risk; and second, the potential costs and benefits of standard-setters’ involvement.
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Marc Boulanger and Brian H. Kleiner
Looks, initially, at the law that controls all collective labour negotiations in the USA, which is the National Labor Relations Act as amended. Includes a 14‐point checklist to…
Abstract
Looks, initially, at the law that controls all collective labour negotiations in the USA, which is the National Labor Relations Act as amended. Includes a 14‐point checklist to identify subject matters that should be included in all collective bargaining agreements created in the USA. Discusses many aspects of these 14 points in full, though with a company bias of course. Tries to anticipate what both sides would be thinking at negotiation time.
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If additional evidence were needed of the connection between food supply and the spread of infectious disease, it would be found in a report recently presented to the Finsbury…
Abstract
If additional evidence were needed of the connection between food supply and the spread of infectious disease, it would be found in a report recently presented to the Finsbury Borough Council by its Medical Officer of Health, Dr. GEORGE NEWMAN. It appears that in the early part of May a number of cases of scarlet fever were notified to Dr. NEWMAN, and upon inquiry being made it was ascertained that nearly the whole of these cases had partaken of milk from a particular dairy. A most pains‐taking investigation was at once instituted, and the source of the supply was traced to a farm in the Midlands, where two or three persons were found recovering from scarlet fever. The wholesale man in London, to whom the milk was consigned, at first denied that any of this particular supply had been sent to shops in the Finsbury district, but it was eventually discovered that one, or possibly two, churns had been delivered one morning, with the result that a number of persons contracted the disease. One of the most interesting points in Dr. NEWMAN'S report is that three of these cases, occurring in one family, received milk from a person who was not a customer of the wholesale dealer mentioned above. It transpired on the examination of this last retailer's servants that on the particular morning on which the infected churn of milk had been sent into Finsbury, one of them, running short, had borrowed a quart from another milkman, and had immediately delivered it at the house in which these three cases subsequently developed. The quantity he happened to borrow was a portion of the contents of the infected churn.
The purpose of this paper is to examine the long‐term post‐acquisition share performance of Malaysian acquiring firms over the period 2000‐2004.
Abstract
Purpose
The purpose of this paper is to examine the long‐term post‐acquisition share performance of Malaysian acquiring firms over the period 2000‐2004.
Design/methodology/approach
The authors use the event‐type methodology to analyse acquirer returns in relation to target status, method of payment and other firm characteristics, using both univariate and multivariate analyses. In total three performance measures are used to identify the long‐term share performance of acquiring firms: cumulative market‐adjusted abnormal returns, the buy‐and‐hold market‐adjusted and buy‐and‐hold matched‐sample abnormal returns.
Findings
The results show the existence of negative abnormal returns to acquirers over two‐ and three‐year periods after acquisition. The study also finds that acquirers of private targets earn negative returns, while acquirers of public targets earn insignificant returns. It is also found that under‐performance is limited to the small size acquirers and to large relative‐size acquisitions. Furthermore, the results indicate that acquirer's long‐term performance is not related to the method of payment and book‐to‐market ratio of the acquirer.
Originality/value
The Malaysian stock market is relatively small compared to the US and UK markets where most previous research has been carried out. The current study allows us to assess the robustness of the models and whether the findings in developed markets may be generalized to the smaller developing markets. This paper contributes to the present body of knowledge by offering evidence of acquirer's post‐acquisition performance from a developing market.
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D.R.J. Owen, S.Y. Zhao and J.G. Loughran
A finite element solution to the rolling of two‐phase materials ispresented and applied to the rolling of prepared sugar cane. The generalizedBiot theory is extended and modified…
Abstract
A finite element solution to the rolling of two‐phase materials is presented and applied to the rolling of prepared sugar cane. The generalized Biot theory is extended and modified to suit the present problem and the velocity of the solid skeleton and the pore pressure are taken as the primary unknowns. The finite element approach is applied to the governing equations for spatial discretization, followed by time domain discretization by standard difference methods. A constitutive relation evaluated from a finite element simulation of experiments performed on a constrained compression test cell is employed. The computational model of the rolling of prepared cane with two rolls is presented. The material parameters of prepared cane are described and their variation during the rolling process are derived and discussed. Numerical results are presented to illustrate the performance and capability of the model and solution procedures.
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Mats Hordvik, Ann MacPhail, Deborah Tannehill and Lars Tore Ronglan
In this chapter, we deliberately attempt to reframe the “self” in self-study of professional practices by focus on how “self” can be conceptualized in ways that do not equate…
Abstract
In this chapter, we deliberately attempt to reframe the “self” in self-study of professional practices by focus on how “self” can be conceptualized in ways that do not equate “self” with “I.” Drawing insights from Deleuze and Guattarian’s (1987) rhizomatic philosophy, and particular the concept of assemblage, the objective was to engage with a research assemblage to investigate its function and production. We – i.e., a doctoral candidate, who was researching his practice of teaching pre-service teachers, his two supervisors, and his critical friend – engaged with audio data from our meetings conducted throughout a four-year period. Zooming in on the research assemblage at times when we were provoked to reorganize, adapt, and enhance our systems of thinking (Ovens, Garbett, & Hutchinson, 2016), we highlight the nonlinear and fundamentally relational process of constructing knowledge in self-study of professional practices. We argue that the researcher-self became only one of multiple human and non-human components in a joint construction of knowledge. We suggest that self-study researchers can decenter the researcher-self by embracing a research stance of “coming into composition” (Strom & Martin, 2017) where the researcher engages with a research assemblage to construct joint understanding of teaching and learning. This stance to self-study requires researchers to make themselves into a rhizome.
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Augustine Donkor, Hadrian Geri Djajadikerta, Saiyidi Mat Roni and Terri Trireksani
This study aims to examine the relationship between integrated reporting (IR) quality and corporate tax avoidance (CTA). IR is an emerging reporting mechanism, while CTA practices…
Abstract
Purpose
This study aims to examine the relationship between integrated reporting (IR) quality and corporate tax avoidance (CTA). IR is an emerging reporting mechanism, while CTA practices are considered a hindrance to inclusive and sustainable growth. The study also assesses the moderating role of firm complexity on the IR-CTA relationship. Additionally, this study also envisages that CTA practices are not static. Hence, it also analyses the IR-CTA relationship across different intensity levels of CTA practices. The study focusses on listed companies in South Africa, the only country that has mandated IR practice so far.
Design/methodology/approach
Ordinary least square and quantile regressions are used to analyse archival and content analysis data for firms listed on the Johannesburg Stock Exchange from 2011 to 2017.
Findings
This study finds that IR quality negatively associates firms CTA practices. It further concludes that although firms’ transparency level increases due to IR quality, firm complexity reduces the significant negative relationship between IR and CTA practices. The findings also indicate that the IR-CTA relationship is not constant but instead differs across the CTA quantiles. At aggressive levels of CTA, no relationship is established between IR quality and firms’ CTA practices.
Practical implications
The findings provide a useful and more detailed description of the relationship between information quality and CTA practice, focussing on IR, an emerging reporting mechanism that is considered innovative and transparent.
Social implications
Considering the IR-CTA relationship found in this study, IR quality implementation may indirectly contribute to attaining sustainable development goals by reducing CTA practices.
Originality/value
This study examines the relationship between reporting quality and firms’ CTA practices from the perspectives of an emerging reporting mechanism, with a focus on South Africa, the only country that has mandated IR practice. Furthermore, the distributional mean effects of IR quality on firms’ CTA practices explored in this study extend beyond the usual IR-CTA relationship.
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Sunaina Dhanda and Shveta Singh
The purpose of this study is to see if market timing predicts the first reporting of earnings performance after the issue, i.e. the issue-year earnings performance. Furthermore…
Abstract
Purpose
The purpose of this study is to see if market timing predicts the first reporting of earnings performance after the issue, i.e. the issue-year earnings performance. Furthermore, this study examines the behaviour of financial and non-financial issuers’ performance in the light of varied market timings.
Design/methodology/approach
This study focuses on 785 NSE-listed initial public offerings that took place between April 2010 and December 2021. This study evaluates market timing by using moving averages. Using multiple regression analysis, the research further investigates the impact of market timing on issue-year earnings performance for financial and non-financial issuers on the basis of an interaction (moderation) effect.
Findings
This study finds that there is a significant presence of market timing in India, which predicts issue-year earnings performance. This study also demonstrates that hot market issuers’ performance is heavily influenced by market timing for non-financial issuers only. However, financial companies are not influenced by market timing.
Research limitations/implications
The findings of this study will assist the potential investors, analysts and stakeholders about performance of public issuers in India. Lower earnings performance for hot market non-financial issuers implies that the issuers’ market performance may not be supported by earnings figures. A market performance that is not synchronous with earnings will not last long. The findings of this study hold implications to the regulators as well to keep an eye on issuers’ earnings performance alongside the stock performance. Apart from that, the observations in context of financial and non-financial issuers provide insight about the variation in performance of public issues on the basis of background.
Originality/value
To the best of the authors’ knowledge, this is the only study to examine earnings performance in the context of market timing in India. This study holds significance in terms of methodology for anticipating the presence of market timing and the study of interaction effects. Moreover, it is one of the few studies that has focused on comparing financial and non-financial issuers around the world.