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Article
Publication date: 1 October 1997

Craig Deegan and Michaela Rankin

Reports on the results of a survey of various groups of annual report users as to the importance, or “materiality”, of environmental information to decisions they may wish to…

13328

Abstract

Reports on the results of a survey of various groups of annual report users as to the importance, or “materiality”, of environmental information to decisions they may wish to make. Also investigates how environmental information is ranked in importance relative to various other items of social and financial information. The user groups surveyed comprise shareholders, accounting academics, stockbrokers and financial analysts, financial institutions, environmental lobby groups, industry associations and other groups performing a review or oversight function. Reports the results which indicate that the majority of the annual report users surveyed believe environmental information to be material to their decisions, and that they seek the disclosure of this information in corporate annual reports. Although the results show that the users typically believe that environmental information is material, they further indicate that the majority of the user groups rank environmental information behind traditional financial information such as profits, net assets, cash flows, and dividend payments.

Details

Accounting, Auditing & Accountability Journal, vol. 10 no. 4
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 1 August 2002

Craig Deegan, Michaela Rankin and John Tobin

This study examines the social and environmental disclosures of BHP Ltd (one of the largest Australian companies) from 1983 to 1997 to ascertain the extent and type of annual…

24765

Abstract

This study examines the social and environmental disclosures of BHP Ltd (one of the largest Australian companies) from 1983 to 1997 to ascertain the extent and type of annual report social and environmental disclosures over the period, and whether such disclosures can be explained by the concepts of a social contract and legitimacy theory. This research is also motivated by the opportunity to compare and contrast results with those of Guthrie and Parker, in whose study the social and environmental disclosures made by BHP Ltd were also the focus of analysis. In testing the relationship between community concern for particular social and environmental issues (as measured by the extent of media attention), and BHP’s annual report disclosures on the same issues, significant positive correlations were obtained for the general themes of environment and human resources as well as for various sub‐issues within these, and other, themes. Additional testing also supported the view that management release positive social and environmental information in response to unfavourable media attention. Such results lend support to legitimation motives for a company’s social and environmental disclosures. A trend in providing greater social and environmental information in the annual report of BHP in recent years, and its variable pattern, was also evidenced.

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Accounting, Auditing & Accountability Journal, vol. 15 no. 3
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 10 February 2012

Roger L. Burritt

The purpose of this paper is to provide comment on the contribution of the Environmental performance accountability special issue of Accounting, Auditing & Accountability Journal

7533

Abstract

Purpose

The purpose of this paper is to provide comment on the contribution of the Environmental performance accountability special issue of Accounting, Auditing & Accountability Journal published in 1997 towards the innovation through a personal reflection developed from the perceived need to move academics and practitioners into the same space on environmental improvement by organisations. In addition, the paper will offer future directions for environmental performance accountability research, including the potential for tools such as integrated reporting, the need for theoretical pragmatism and importance of a transdisciplinary approach to research.

Design/methodology/approach

The diegetic method used for this article allowed for the provision of a narrative about actions, characters and events of interest to an audience. This method facilitated the intersection between the biographical and the historical content and context, and a hypodiegesis provided the ability for an embedded story within the larger history. The approach allowed for a hypodiegetic as the story within the story of developing the relationships between academic accountants and practitioners.

Findings

Contained in the special issue is a set of articles marking the extremes of academic and practitioner perspectives on what is broadly termed environmental performance and accountability. Review of the content of the special issue reveals that the bias is towards academic rather than practitioner appreciation. Review of the context providing the setting for the special issue shows the need for publishers to engage in the social media mechanisms needed to commence dialogue and convey the messages of academics to practitioners.

Research limitations/implications

Subjective assessment is overtly recognized rather than subsumed in the research methods adopted.

Practical implications

The embedding of articles in special issues within a broader communications portfolio for practitioner understanding is suggested.

Originality/value

The nature of the personal reflection means that thoughts recorded are novel and unique.

Details

Accounting, Auditing & Accountability Journal, vol. 25 no. 2
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 25 October 2011

Michaela Rankin, Carolyn Windsor and Dina Wahyuni

Institutional governance theory is used to explain voluntary corporate greenhouse gas (GHG) reporting in the context of a market governance system in the absence of climate change…

7698

Abstract

Purpose

Institutional governance theory is used to explain voluntary corporate greenhouse gas (GHG) reporting in the context of a market governance system in the absence of climate change public policy. This paper seeks to hypothesise that GHG reporting is related to internal organisation systems, external privately promulgated guidance and EU ETS trading.

Design/methodology/approach

A two‐stage approach is used. The initial model examines whether firms' GHG disclosures are associated with internal organisation systems factors: environmental management systems (EMS), corporate governance quality and environmental management committees as well as external private guidance provided by the Global Reporting Initiative (GRI) and the Carbon Disclosure Project (CDP) for 187 ASX 300 firms. EU ETS trading is also included. Determinants of the extent and credibility of GHG disclosure is examined in the second stage where an index constructed from the GHG reporting standard “ISO 14064‐1” items for a sub‐sample of 80 disclosing firms as the dependent variable.

Findings

Firms that voluntarily disclose GHGs have EMSs (uncertified and certified), higher corporate governance quality and publicly report to the CDP, tend to be large and in the energy and mining and industrial sectors. The credibility and extent of disclosures are related to the existence of a certified EMS, public reporting to the CDP, and use of the GRI. Firms that disclose more credible information are more likely to be large and in the energy and mining, industrial and services sectors.

Originality/value

The paper shows that some proactive but pragmatic Australian firms are disclosing their GHGs voluntarily for competitive advantage in the current market governance system in the absence of public policy.

Details

Accounting, Auditing & Accountability Journal, vol. 24 no. 8
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 1 May 1996

Craig Deegan and Michaela Rankin

Within Australia there is ageneral absence of professional or legislative rules requiring companies to provide information relating to their environmental performance or any…

17459

Abstract

Within Australia there is ageneral absence of professional or legislative rules requiring companies to provide information relating to their environmental performance or any environmental initiatives undertaken. Previous research studies have shown that many firms present environmental information, but only tend to present information which is favourable to their corporate image. Investigates the environmental reporting practices of a sample of 20 Australian companies which were subject to successful prosecution by the New South Wales, and Victorian Environmental Protection Authorities, during the period 1990‐1993. Indicates a significant increase in the reporting of favourable environmental information surrounding environmental prosecution. Further, the amount of positive environmental information significantly outweighed the negative environmental information presented, which was interesting given that it is clear that the firms studied did have bad news to report. The existence of a proven environmental offence was reported by only two of the companies within the sample. Raises issues as to whether information about a proven environmental offence is “material” to account users and, if so, whether financial statements could be construed as being misleading in the absence of such information.

Details

Accounting, Auditing & Accountability Journal, vol. 9 no. 2
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 2 November 2015

Teng Zhou, Jacqueline Birt and Michaela Rankin

This paper aims to investigate the value relevance of the various components of exploration and evaluation expenditures in the Australian extractives industry. Whether exploration…

6486

Abstract

Purpose

This paper aims to investigate the value relevance of the various components of exploration and evaluation expenditures in the Australian extractives industry. Whether exploration and evaluation expenditures is more value relevant, following the adoption of AASB 6, and whether it differs for firms engaged only in exploration when compared to those also engaged in mining production is also examined.

Design/methodology/approach

This paper uses a modified Ohlson model as a benchmark against which to compare an alternative valuation model featuring the disclosed components of exploration and evaluation expenditures. A sample comprising 430 firm-year observations between 2003 and 2009 is utilised.

Findings

Written-off exploration and evaluation expenditures and the number of projects in which firms are involved is relevant to investors when assessing the value of extractive firms. Further, the implementation of AASB 6 has led to an improvement in the relevance of exploration and evaluation information in assessing firm value.

Research limitations/implications

The sample is based on observations from the years 2003-2004 to the years 2006-2009. The authors do not incorporate 2005, as this is the first year the new standard was implemented, and there is the possibility of a settling in effect. The authors base our sample on the top 100 extractive firms in 2009. As such, these companies may not represent the accounting practices of smaller firms in the Australian extractive industry.

Originality/value

The authors address a gap in the literature by examining the value relevance of the detailed line items of exploration and evaluation expenditure reported by extractives firms. The authors also explore the effect of regulatory changes by examining the value relevance of exploration and evaluation expenditures pre- and post-International Financial Reporting Standards (IFRS) 6/Australian Accounting Standards Board (AASB) 6 implementation. Finally, the authors contribute useful findings to the standard setters’ ongoing deliberations aimed at producing a comprehensive standard on extractive activities by providing useful feedback on the relevance of accounting for pre-production costs under a regime using the “area of interest” method.

Details

Accounting Research Journal, vol. 28 no. 3
Type: Research Article
ISSN: 1030-9616

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Article
Publication date: 25 July 2019

Craig Michael Deegan

The purpose of this paper is to reflect upon the contributions made to the social and environmental accounting literature by papers that comprised a 2002 Special Issue of…

14543

Abstract

Purpose

The purpose of this paper is to reflect upon the contributions made to the social and environmental accounting literature by papers that comprised a 2002 Special Issue of Accounting, Auditing and Accountability Journal (AAAJ) entitled social and environmental reporting and its role in maintaining or creating organisational legitimacy. This paper will also provide insights into the origins of legitimacy theory as used in the social and environmental accounting literature as well as providing reflections about the strengths, and shortcomings, of the theory. Suggestions are made with respect to the ongoing application, and development, of legitimacy theory.

Design/methodology/approach

As a commentary, this paper utilises a review of the social and environmental accounting and institutional literature across a number of decades to reveal insights about the development and use of legitimacy theory as a basis to explain social and environmental reporting practices. Citation data are also used to indicate the potential impact that the papers in the 2002 Special Issue had upon subsequent research.

Findings

This commentary shows that the 2002 Special Issue is the most highly cited issue in the history of AAAJ. It also shows that individually, some of the papers in the Special Issue represent some of the most highly cited papers in the social and environmental accounting literature. The commentary provides arguments to suggest that the development of legitimacy theory is in need of further refinement, and suggests a way in which this refinement might take place.

Research limitations/implications

This paper is largely based on the opinions of one researcher, and the evidence presented in the paper is selected on the basis that it is deemed sufficient to support the opinions being projected. The paper also relies on citation data as an indicator of “impact”. The implication of the research is that it identifies a “way forward” for the development of theory applicable to the understanding of organisational social and environmental reporting practices.

Originality/value

The study provides evidence to show that the 2002 Special Issue was significant within the context of AAAJ, and also within the context of the evolution of the social and environmental accounting literature. The description of the history of the development of legitimacy theory, and of the theory’s subsequent application, provides a solid impetus for future refinements to the theory.

Details

Accounting, Auditing & Accountability Journal, vol. 32 no. 8
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 25 October 2011

Markus J. Milne and Suzana Grubnic

This paper aims to set out several of the key issues and areas of the inter‐disciplinary field of climate change research based in accounting and accountability, and to introduce…

8509

Abstract

Purpose

This paper aims to set out several of the key issues and areas of the inter‐disciplinary field of climate change research based in accounting and accountability, and to introduce the papers that compose this AAAJ special issue.

Design/methodology/approach

The paper provides an overview of issues in the science of climate, as well as an eclectic collection of independent and inter‐disciplinary contributions to accounting for climate change. Through additional accounting analysis, and a shadow carbon account, it also illustrates how organisations and nations account for and communicate their greenhouse gas (GHG) footprints and emissions behaviour.

Findings

The research shows that accounting for carbon and other GHG emissions is immensely challenging because of uncertainties in estimation methods. The research also shows the enormity of the challenge associated with reducing those emissions in the near future.

Originality/value

The paper surveys past work on a wide variety of perspectives associated with climate change science, politics and policy, as well as organisational and national emissions and accounting behaviour. It provides an overview of challenges in the area, and seeks to set an agenda for future research that remains interesting and different.

Details

Accounting, Auditing & Accountability Journal, vol. 24 no. 8
Type: Research Article
ISSN: 0951-3574

Keywords

Available. Content available
Article
Publication date: 28 March 2008

816

Abstract

Details

Accounting, Auditing & Accountability Journal, vol. 21 no. 3
Type: Research Article
ISSN: 0951-3574

Available. Content available
Article
Publication date: 2 November 2015

Ellie (Larelle) Chapple

481

Abstract

Details

Accounting Research Journal, vol. 28 no. 3
Type: Research Article
ISSN: 1030-9616

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