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Article
Publication date: 31 October 2023

Mohammad Istiaq Azim

528

Abstract

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Accounting, Auditing & Accountability Journal, vol. 36 no. 7/8
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 13 November 2019

Leena Afroz Mostofa Chowdhury, Tarek Rana and Mohammad Istiaq Azim

The purpose of this paper is to, the first of its kind, investigate the relationship between the intellectual capital efficiency and organisational performance of the…

2468

Abstract

Purpose

The purpose of this paper is to, the first of its kind, investigate the relationship between the intellectual capital efficiency and organisational performance of the pharmaceutical sector in Bangladesh, an emerging economy that enjoys Trade-Related Aspects of Intellectual Property Rights (TRIPS) relaxation.

Design/methodology/approach

The study used hand-picked data from annual reports for five years. The relationship between efficient use of intellectual capital and corporate performance was examined through the practical use of human capital, structural capital and capital employed. Multiple regressions were used to assess their impact on financial performance – specifically, return on assets, return on equity, asset turnover and market-to-book value.

Findings

Value-added intellectual coefficient components (i.e. human capital, structural capital and capital employed) significantly explained asset turnover and return on assets but failed to predict the return on equity outcome. Additionally, asset turnover was negatively influenced by structural capital and positively influenced by capital employed. The return on assets was mostly affected by variation in human capital. Intellectual capital did not predict market-to-book value or investment decisions.

Practical implications

This paper provides useful resources for evaluating the financial performance and value creation of companies in emerging economies that enjoy TRIPS exemptions; this research could also be extended using cross-industry comparisons. The findings have theoretical and practical implications, particularly for the pharmaceutical industry in emerging economy contexts, and for managers globally.

Originality/value

This study is among only a few that have reported on the relationship between intellectual capital efficiency and value creation in emerging economy contexts.

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Article
Publication date: 10 August 2023

Md. Khokan Bepari, Shamsun Nahar, Mohammad Istiaq Azim and Abu Taher Mollik

This study aims to examine the strategies that auditors in Bangladesh follow in identifying and reporting key audit matters (KAMs). The study also examines the factors affecting…

466

Abstract

Purpose

This study aims to examine the strategies that auditors in Bangladesh follow in identifying and reporting key audit matters (KAMs). The study also examines the factors affecting auditors’ strategies in the identification and disclosures of KAMs.

Design/methodology/approach

The authors have conducted interviews with audit partners, chief financial officers (CFOs) and regulators involved in KAMs reporting and monitoring. The authors have used the lens of institutional theory of coercive, mimetic and normative isomorphism and the concept of decoupling.

Findings

Auditors have used a decoupling strategy by identifying and reporting greater number of industry-generic KAMs than that of other countries in an effort to minimize risks and avoid regulatory scrutiny, although they disclose remote risks as KAMs and mask severe problem areas of the client. Because of the principle-based approach of International Standards on Auditing (ISA) 701 and because of the pressure and misunderstanding from the audit committee, auditors report industry-generic items and generic descriptions of KAMs.

Practical implications

The findings have important implications for the standard setters and local and global audit firms for the diffusion of new auditing standards in different jurisdictions. Without the development of audit firm-level capability and the corporate governance environment, changes in standards may not be effective in achieving the objectives of the standards.

Social implications

Although auditors consider that the KAMs reporting requirements provide with opportunities to enhance audit profession’s legitimacy and public trusts, the actual KAMs reporting practices are driven by the market logic, an urge to maintain the status quo with clients and eventual rationalization of the impairment of professional independence.

Originality/value

Given the dearth of prior research on the implementation and diffusion patterns of ISA 701 KAMs reporting, this study fills the gap in the literature. To the best of the authors’ knowledge, this is the first known study to examine auditors’ strategic responses to balance among conflicting priorities in reporting KAMs.

Details

Journal of Accounting & Organizational Change, vol. 20 no. 3
Type: Research Article
ISSN: 1832-5912

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Article
Publication date: 20 June 2023

Azim Mohammad, Abu Hamja and Peter Hasle

Shorter lead time with low price and quality product demand is pivotal in the garment industry. Pressure on production lead time stresses the importance of reducing style…

714

Abstract

Purpose

Shorter lead time with low price and quality product demand is pivotal in the garment industry. Pressure on production lead time stresses the importance of reducing style changeover time in manufacturing factories, and this paper aims to contribute to solving the challenge by showing how the single minute exchange of die (SMED) methodology in practice can be adapted to garment factories in developing countries.

Design/methodology/approach

The paper investigates three cases of SMED implementation integrated with responsible, accountable, consulted, informed (RACI) matrices in garment factories in an action research approach. Both quantitative and qualitative methods are applied.

Findings

The study shows a reduction of 50% to 64% of changeover time with SMED implementation measured with two key indicators – throughout time and time to reach peak production. Moreover, the implementation depends on the application of the RACI matrix for the distribution of responsibility as well as integration with the basic production flow before and after the application of SMED.

Practical implications

The study can guide better SMED implementation in garment factories with limited investment by stressing the need to adapt to the specifics of the garment industry, secure the division of responsibility and integrate SMED in the production flow before and after the changeover.

Originality/value

Limited research on the application of SMED in the garment industry. This paper contributes to understanding the specific conditions for successful implementation in the garment industry in developing countries and addresses additional activities that help secure a sustainable implementation process.

Details

International Journal of Lean Six Sigma, vol. 15 no. 2
Type: Research Article
ISSN: 2040-4166

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Article
Publication date: 4 September 2023

Md Khokan Bepari, Shamsun Nahar, Abu Taher Mollik and Mohammad Istiaq Azim

In this study the authors examine the nature and contents of key audit matters (KAMs), and the consequences of KAMs reporting on audit quality in the context of a developing…

897

Abstract

Purpose

In this study the authors examine the nature and contents of key audit matters (KAMs), and the consequences of KAMs reporting on audit quality in the context of a developing country, Bangladesh. The authors’ proxies of audit qualities are discretionary accruals, small positive earnings surprise, audit report lag, earnings management via below the line items and audit fees.

Design/methodology/approach

The authors use content analysis of the KAMs for the period 2018–2021 to understand the nature and extent of KAMs reported by auditors in Bangladesh. The authors then use multivariate regression analysis to examine the effect of the number and content characteristics of KAMs on audit quality by using multivariate regression analysis.

Findings

Auditors in Bangladesh disclose a higher number of KAMs compared to other countries, disclose short descriptions of KAMs and industry generic KAMs. The authors document significant cross-sectional variations in the number and content characteristics of KAMs reported by auditors in Bangladesh. The authors’ pre-post analysis suggest that audit quality has improved after the adoption of KAMs. Cross-sectional analysis suggests that KAMs number and content characteristics are related to audit quality.

Practical implications

The authors’ findings imply that the KAMs reporting has the potential to play significant monitoring role in reducing the opportunistic behavior of managers. Hence, KAMs reporting can play a significant role in reducing the agency problem. For regulators, shareholders and corporate managers, the authors’ findings imply that if the audit quality is to be increased, the audit effort should be supported by an appropriate amount of audit fee.

Social implications

The content characteristics of KAMs significantly influence managerial reporting behavior and affect the level of audit efforts.

Originality/value

Unlike developed countries (Gutierrez et al., 2018; Lennox et al. 2022), this study supports that KAMs reporting improves audit quality and control opportunistic behavior of managers in developing countries. The authors show that even though the KAMs disclosure quality is poor, it has the potential to improve financial reporting quality.

Details

Journal of Accounting in Emerging Economies, vol. 14 no. 4
Type: Research Article
ISSN: 2042-1168

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Article
Publication date: 20 April 2020

Shamsun Nahar, Mohammad Istiaq Azim and Md Moazzem Hossain

The purpose of this paper is to explore to what extent risk disclosure is associated with banks’ governance characteristics. The research also focuses on how the business…

1415

Abstract

Purpose

The purpose of this paper is to explore to what extent risk disclosure is associated with banks’ governance characteristics. The research also focuses on how the business environment and culture may create a bank’s awareness of risk management and its disclosure. This study is conducted in a setting where banks are not mandated to follow international standards for their risk disclosures.

Design/methodology/approach

Using 300 bank-year observations comprising hand-collected private commercial bank data, the study uses regression analysis to investigate the influence of risk governance characteristics on risk disclosure.

Findings

This paper reports a positive relationship between risk disclosure and banks’ governance characteristics, such as the presence of various risk committees and a risk management unit.

Practical implications

Because studies are lacking on risk disclosure and risk governance conducted in developing countries, it is expected that this research will make a significant contribution to the literature and provide a foundation for further research in this field.

Social implications

This study complements the corporate governance literature, more specifically the risk governance literature, by incorporating agency theory, institutional theory and proprietary cost theory to provide robust evidence of the impact of risk governance practices in the context of a developing economy.

Originality/value

Previous studies on risk disclosure and governance determinants primarily involve developed countries. This paper’s contribution is to examine risk disclosure and risk governance characteristics in a developing country in which reporting according to international standards is effectively voluntary.

Details

International Journal of Accounting & Information Management, vol. 28 no. 4
Type: Research Article
ISSN: 1834-7649

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Article
Publication date: 4 April 2017

Mohammad I. Azim, Kuang Sheng and Meropy Barut

Combatting corruption is an important social and commercial issue in most human societies. Many researchers have revealed how an effective anti-corruption practice can possibly…

1435

Abstract

Purpose

Combatting corruption is an important social and commercial issue in most human societies. Many researchers have revealed how an effective anti-corruption practice can possibly minimise corruption in an organisation. However, studies focusing on organisations which are relatively successful in managing corruption at the employee level are relatively rare. On this note, this study aims to focus on Grameen Bank in particular, a Nobel-Prize-winning microfinance institute that was able to minimise its level of corruption among its employees in a country where corruption is the norm.

Design/methodology/approach

This paper uses standard economic theory to explain the perceptions and behaviours of the employees of Grameen Bank who live and work in a highly corrupt socio-cultural environment. This paper used questionnaires to ascertain the perceptions of Grameen Bank employees’ notions regarding corruption-combating behaviours. Interviews were also conducted among Grameen’s board members, managers and officers to further explore the nature and effectiveness of this organisation’s anti-corruption mechanisms.

Findings

Corruption can never be entirely eradicated; however, it can be diminished and opportunities for corruption can be minimised. This paper found, through an analysis of employees’ perceptions relating to governance and corruption in the Grameen Bank, that corruption exists, but there are systems in place to prevent it and to assist with staff morality. This research also uncovered a number of best practices in Grameen Bank’s governance to minimise corrupt behaviours, which include, but are not limited to, strong monitoring, decentralisation of authority, review of decision-making process, high internal audit intensity, impersonal punishment, anti-corruption cultures and transparency.

Originality/value

This study suggests that it is possible for organisations to resist corruption, especially microfinance institutions, even when they operate in a highly corrupt socio-cultural environment.

Details

Managerial Auditing Journal, vol. 32 no. 4/5
Type: Research Article
ISSN: 0268-6902

Keywords

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Article
Publication date: 19 September 2024

Mohammad Azim Eirgash and Vedat Toğan

Most of the existing time-cost-quality-environmental impact trade-off (TCQET) analysis models have focused on solving a simple project representation without taking typical…

60

Abstract

Purpose

Most of the existing time-cost-quality-environmental impact trade-off (TCQET) analysis models have focused on solving a simple project representation without taking typical activity and project characteristics into account. This study aims to present a novel approach called the “hybrid opposition learning-based Aquila Optimizer” (HOLAO) for optimizing TCQET decisions in generalized construction projects.

Design/methodology/approach

In this paper, a HOLAO algorithm is designed, incorporating the quasi-opposition-based learning (QOBL) and quasi-reflection-based learning (QRBL) strategies in the initial population and generation jumping phases, respectively. The crowded distance rank (CDR) mechanism is utilized to rank the optimal Pareto-front solutions to assist decision-makers (DMs) in achieving a single compromise solution.

Findings

The efficacy of the proposed methodology is evaluated by examining TCQET problems, involving 69 and 290 activities, respectively. Results indicate that the HOLAO provides competitive solutions for TCQET problems in construction projects. It is observed that the algorithm surpasses multiple objective social group optimization (MOSGO), plain Aquila Optimization (AO), QRBL and QOBL algorithms in terms of both number of function evaluations (NFE) and hypervolume (HV) indicator.

Originality/value

This paper introduces a novel concept called hybrid opposition-based learning (HOL), which incorporates two opposition strategies: QOBL as an explorative opposition and QRBL as an exploitative opposition. Achieving an effective balance between exploration and exploitation is crucial for the success of any algorithm. To this end, QOBL and QRBL are developed to ensure a proper equilibrium between the exploration and exploitation phases of the basic AO algorithm. The third contribution is to provide TCQET resource utilizations (construction plans) to evaluate the impact of these resources on the construction project performance.

Details

Engineering Computations, vol. 41 no. 8/9
Type: Research Article
ISSN: 0264-4401

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Article
Publication date: 5 December 2016

Shamsun Nahar, Mohammad Azim and Christine Jubb

The purpose of this paper is to investigate the extent of risk disclosure and the factors determining this for all listed banks in Bangladesh.

2207

Abstract

Purpose

The purpose of this paper is to investigate the extent of risk disclosure and the factors determining this for all listed banks in Bangladesh.

Design/methodology/approach

Relying on a theoretical framework based on agency theory and the creation of a risk disclosure index (RDI) based on International Financial Reporting Standard (IFRS) 7, Basel II: market discipline, and prior literature, hand-collected data from the annual reports of all 30 banks traded on the Dhaka Stock Exchange over 2007-2012, creating 180 bank-year observations, are analysed.

Findings

The study suggests that implementation of IFRS 7 and Basel II: market discipline standards in a non-mandated environment raised the extent of risk disclosure in every category of financial institution risk (market, credit, liquidity, operational and equities). The effect can be attributed to regulatory concerns and voluntary adoption of international disclosure standards in the banking industry in Bangladesh. Specifically, whilst the determinants of disclosure vary across types of risk, the number of risk committees, leverage, company size, the existence of a risk management unit, board size and a Big4 affiliate auditor are significant determinants of at least one category of risk disclosure.

Research limitations/implications

The source of risk disclosures is limited to listed banks’ annual reports.

Practical implications

The RDI, developed in this paper, contributes to the literature by: first, quantifying the extent of each of five types of risk disclosure; and second, identifying the factors determining them. Stakeholders, particularly depositors and investors, can use this index to select or monitor their bank of interest.

Originality/value

The RDI was developed according to the most relevant standards – IFRS 7 and Basel II: market discipline, plus prior scholarly literature. This type of benchmarking has not been conducted to date in previous studies. Inferences about risk disclosure are based on archival data derived from all listed banks in a virtually unregulated environment. Further, the study complements the literature by providing support for the applicability of agency theory in investigating the level of risk disclosure by banks.

Details

Asian Review of Accounting, vol. 24 no. 4
Type: Research Article
ISSN: 1321-7348

Keywords

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Article
Publication date: 2 September 2019

Jean Raar, Meropy Barut and Mohammad Istiaq Azim

The purpose of this paper is to re-kindle debate about finding a conceptual and pragmatic basis for accounting and accountability researchers and to incorporate biodiversity…

909

Abstract

Purpose

The purpose of this paper is to re-kindle debate about finding a conceptual and pragmatic basis for accounting and accountability researchers and to incorporate biodiversity management into the internal practices, routines and communication of organizations.

Design/methodology/approach

A qualitative interplay of theories, particularly structuration theory, applied to an interdisciplinary, communitarian and eco-centric perspective will be used to demonstrate the need for change: for researchers and practitioners to interact with other disciplines and adapt their professional, institutional and governance practices to incorporate biodiversity management and reporting within organizational structures.

Findings

Collective community action can be undertaken by aligning physical biodiversity and its setting with the interrelationship between external information structures, accountability and internal information structures, agent behaviour and the reporting of outcomes. This should assist in reducing the loss of species and richness triggered by unsound economic decision-making.

Practical implications

This is perhaps one of the few accounting studies which discuss theoretical frameworks for the integration of accounting/accountability systems and biological diversity information through a conceptual rethinking.

Social implications

This should assist in reducing the loss of species and richness triggered by unsound economic decision-making.

Originality/value

This paper re-opens the debate regarding the need for an alternative conceptual approach through which biodiversity management can be incorporated into the complexities of business interactions, and the social and natural systems, by using management accounting as a primary vehicle. This is perhaps one of the few accounting studies which discuss theoretical frameworks for the integration of accounting/accountability systems and biological diversity information through a conceptual rethinking.

Details

Sustainability Accounting, Management and Policy Journal, vol. 11 no. 1
Type: Research Article
ISSN: 2040-8021

Keywords

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