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Article
Publication date: 29 July 2018

Max Schreder

This paper provides a quantitative review of the literature on the repercussions of idiosyncratic information on firms’ cost of equity (CoE) capital. In total, I review the…

479

Abstract

This paper provides a quantitative review of the literature on the repercussions of idiosyncratic information on firms’ cost of equity (CoE) capital. In total, I review the results of 113 unique studies examining the CoE effects of information Quantity, Precision and Asymmetry. My results suggest that the association between firm-specific information and CoE is subject to moderate effects. First, the link between Quantity and CoE is moderated by disclosure types and country-level factors in that firms in comparatively weakly regulated countries tend to enjoy up to four times greater CoE benefits from more expansive disclosure—depending on the type of disclosure—than firms in strongly regulated markets. Second, a negative relationship between Precision and CoE is only significant in studies using non-accrual quality proxies for Precision and risk factor-based (RFB)/valuation model-based (VMB) proxies for CoE. Third, almost all VMB studies confirm the positive association between Asymmetry and CoE, but there is notable variation in the conclusions reached when ex post CoE measurers are used.

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Journal of Accounting Literature, vol. 41 no. 1
Type: Research Article
ISSN: 0737-4607

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Book part
Publication date: 16 September 2022

Amina Mohamed Buallay

This chapter discusses and investigates the sustainability reporting across different sectors. The first section discusses and investigates the relationship between sustainability…

Abstract

This chapter discusses and investigates the sustainability reporting across different sectors. The first section discusses and investigates the relationship between sustainability reporting and primary sector's performance (Agriculture and Food Industries Sector and Energy Sector). The second section discusses and investigates the relationship between sustainability reporting and secondary sector's performance (Manufacturing Sector). The final section discusses and investigates the relationship between sustainability reporting and tertiary sector's performance (Banks and Financial Services Sector, Retail Sector, Telecommunication and Information Technology Sector, and Tourism Sector).

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Book part
Publication date: 31 July 2013

Marc Verschueren, Johan Kips and Martin Euwema

The purpose of the study was to explore in literature what different leadership styles and behaviors of head nurses have a positive influence on the outcomes of patient safety or…

Abstract

Purpose

The purpose of the study was to explore in literature what different leadership styles and behaviors of head nurses have a positive influence on the outcomes of patient safety or quality of care.

Design/methodology/approach

We reviewed the literature from January 2000 until September 2011. We searched Pubmed, Embase, Cinahl, Psychlit, and Econlit.

Findings

We found 10 studies addressing the relationship between head nurse leadership and safety and quality. A wide array of styles and practices were associated with different patient outcomes. Transformational leadership was the most used concept in the studies. A trend can be observed over these studies suggesting that a trustful relationship between the head nurse and subordinates is an important driving force for the achievement of positive patient outcomes. Furthermore, the effects of these trustful relationships seem to be amplified by supporting mechanisms, often objective conditions like clinical pathways and, especially, staffing level.

Value/originality

This study offers an up-to-date review of the limited number of studies on the relationship between nurse leadership and patient outcomes. Although mostly transformational leadership was found to be responsible for positive associations with outcomes, also contingent reward had positive influence on outcomes. We formulated some comments on the predominance of the transformational leadership concept and suggested the application of complexity theory and political leadership for the current context of care. We formulated some implications for practice and further research, mainly the need for more systematic empirical and cross cultural studies and the urgent need for the development of a validated set of nurse-sensitive patient outcome indicators.

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Leading in Health Care Organizations: Improving Safety, Satisfaction and Financial Performance
Type: Book
ISBN: 978-1-78190-633-0

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Article
Publication date: 22 April 2001

Robert N. Lussier, Matthew C. Sonfield, Joel Corman and Mary McKinney

This descriptive study of 184 small firms identified strategies most frequently used by their managers. These strategies were identified using the Entrepreneurial Strategy Matrix…

770

Abstract

This descriptive study of 184 small firms identified strategies most frequently used by their managers. These strategies were identified using the Entrepreneurial Strategy Matrix, a situational model in which the identification of levels of innovation and risk lead to prescriptions of appropriate strategies. Concurrently, this model was empirically tested and its validity supported. Of the strategies used, the five most common were: “work to create a competitive advantage,” “maintain innovation,” “lower the costs of developing and/or maintaining one’s venture,” “defend product/service as it is now,” and “create a first mover advantage.” In addition, there were no differences between the use of strategies by entrepreneurs in service and manufacturing industries.

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American Journal of Business, vol. 16 no. 1
Type: Research Article
ISSN: 1935-519X

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Article
Publication date: 1 February 1995

Alan S. Dunk

Responses to environmental uncertainty have included designating marketing units to interface with the environment to enable manufacturing units to operate in conditions…

440

Abstract

Responses to environmental uncertainty have included designating marketing units to interface with the environment to enable manufacturing units to operate in conditions approximating certainty. If buffering is effective, the impact of environmental uncertainty should be lower and conditions may be more suitable for a greater reliance on budgetary control in manufacturing than in marketing departments. The objectives of this study are to first, assess if there is a difference in the level of environmental uncertainty between these functions. Second, to evaluate if the relation between reliance on budgetary control and unit performance is influenced by departmental function. Third, since function and environmental uncertainty are unlikely to be perfectly correlated, if environmental uncertainty influences that relation. The results suggest that there is no difference in the level of environmental uncertainty or reliance on budgetary control between manufacturing and marketing departments. Furthermore, the findings suggest that reliance on budgetary control is no more effective in enhancing performance in either unit category. On relaxing the presumption that function proxied for environmental uncertainty, it was found that reliance on budgetary control is more effective in enhancing performance in conditions of low rather than high environmental uncertainty.

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Asian Review of Accounting, vol. 3 no. 2
Type: Research Article
ISSN: 1321-7348

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Book part
Publication date: 12 March 2020

Giorgio Mion and Cristian R. Loza Adaui

Public-interest entities – among which are listed companies – are obliged to publish nonfinancial disclosure in some countries and regions. The European Commission established…

Abstract

Public-interest entities – among which are listed companies – are obliged to publish nonfinancial disclosure in some countries and regions. The European Commission established mandatory nonfinancial disclosure by Directive 2014/95/EU. While a large body of literature was developed on sustainability reporting quality (SRQ) in voluntary context, evidence about the effect of mandatory nonfinancial disclosure on SRQ is controversial and previous experiences worldwide did not make clear if obligatoriness improves SRQ. This chapter aims to bridge the gap of empirical evidence about this phenomenon in European countries, focusing on first implementation of new legislation by Italian and German companies. The research has an explorative character and it adopts content analysis methods performed on sustainability reporting practices of companies listed in FTSE-MIB and DAX 30. The analysis aims to understand if obligatoriness affects SRQ, causes some changes in reporting practices such as harmonizing Italian and German ones by performing a cross-country comparison. The findings suggest that obligatoriness improves reporting quality and, above all, it fills the gap between different countries by fostering the adoption of international guidelines and the consequent introduction of some content, such as materiality analysis and quantitative measures of social and environmental performance.

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Non-Financial Disclosure and Integrated Reporting: Practices and Critical Issues
Type: Book
ISBN: 978-1-83867-964-4

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Book part
Publication date: 25 August 2022

Dipankar Ghosh and Lori Olsen

Financial analysts' forecasts serve as a proxy for market earnings expectations, and research provides mixed evidence of the relation between financial analysts' expertise and…

Abstract

Financial analysts' forecasts serve as a proxy for market earnings expectations, and research provides mixed evidence of the relation between financial analysts' expertise and forecast accuracy. The judgment and decision-making (J/DM) literature suggests that those with more expertise will not perform better when tasks exhibit either extremely high or extremely low complexity. Expertise is expected to contribute to superior performance for tasks between these two extremes. Using archival data, this research examines the effect of analysts' expertise on forecasting performance by taking into consideration the forecasting task's complexity. Results indicate that expertise is not an explanatory factor for forecast accuracy when the forecasting task's complexity is extremely high or low. However, when task complexity falls between these two extremes, expertise is a significant explanatory variable of forecast accuracy. Both results are consistent with our expectations.

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Advances in Accounting Behavioral Research
Type: Book
ISBN: 978-1-80382-802-2

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Book part
Publication date: 11 December 2023

Sameerah T. Saeed and Karwan H. Sherwani

Globally, higher education institutions have become reliant on a quality assurance (QA) system over the past four decades. QA is considered to be one of the most important drivers…

Abstract

Globally, higher education institutions have become reliant on a quality assurance (QA) system over the past four decades. QA is considered to be one of the most important drivers of continuous improvement and an essential tool for promoting excellence in teaching, learning, and research. It provides a framework for establishing and maintaining standards, and for assuring stakeholders that programs and services meet or exceed these standards. Despite the wide range of quality assurance models available to higher education institutions, there remains considerable debate over which model is the most effective, as well as what criteria should be used for evaluating the effectiveness of these models. Universities in the Middle East have tried to adopt different models of QA that can meet their needs and expectations and provide a framework for continuous improvement. A major objective of this book is to provide an overview account of the QA process as implemented in the higher education systems of a number of Middle East countries, including Egypt, Iraq, Lebanon, Saudi Arabia, and the United Arab Emirates. This book lays out essential theoretical and practical insights into the role of QA policies and practices in higher education in the Middle East countries and builds upon this idea to provide a blueprint for future academic leaders in these countries and other Middle Eastern countries to enhance their QA policies and practices and drive higher education in those countries forward.

Details

Quality Assurance in Higher Education in the Middle East: Practices and Perspectives
Type: Book
ISBN: 978-1-80262-556-1

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Book part
Publication date: 9 June 2020

Anna Melinda and Ratna Wardhani

With the increasing understanding of stakeholders on sustainability aspects for the business, companies are nowadays paying more attention to environmental and social issues. This…

Abstract

With the increasing understanding of stakeholders on sustainability aspects for the business, companies are nowadays paying more attention to environmental and social issues. This study aims to examine the relationship between Environmental, Social, Governance (ESG) Index and firms’ value. Moreover, this study also examines how the controversy score influences the company’s value. The authors employ a dataset of 1.356 companies from 22 countries in Asia which representing the Asian market from 2014 to 2018. This study shows that ESG index score and controversy score are statistically significant, affecting the firms’ value, measured by Tobin’s Q. From the individual tests, the findings of this study indicate that ESG-environmental, ESG-social, and ESG-governance, individually affect the firms’ value. This study suggests that providing disclosure on ESG aspects is essential, not only to increase company value but also to show the company resilience and sustainability. On the other hand, ESG controversy score surprisingly indicates a positive relationship with the company value. The result implies that controversies provide a positive signal to the investor because controversies could provide a signal to the public of companies’ willingness to have transparency and accountability.

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Advanced Issues in the Economics of Emerging Markets
Type: Book
ISBN: 978-1-78973-578-9

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Article
Publication date: 14 March 2023

Rupjyoti Saha

This study aims to examine the relationship between corporate governance (CG) voluntary disclosure (VD) and firm valuation (FV). Moreover, the study also investigates whether VD…

417

Abstract

Purpose

This study aims to examine the relationship between corporate governance (CG) voluntary disclosure (VD) and firm valuation (FV). Moreover, the study also investigates whether VD mediates the impact of CG on FV or not.

Design/methodology/approach

The study is based on a panel data set of top 100 listed firms on Bombay Stock Exchange (BSE) over the period of 2014–2018 and develops CG index and VD index (VDI) in order to capture both the constructs respectively. The author adopts suitable panel data model to examine the relationship between CG, VD and FV as well as indirect impact of CG on FV through mediation of VD. Further, the author uses instrumental variables regression model for robustness check.

Findings

The author's findings reveal significant positive impact of CG on FV. Likewise, VD also exhibits significant positive impact on FV. Notably, the interaction of CG and VD complements each other in making positive contribution towards FV. In addition, the author observes that VD partially mediates the impact of CG on FV. Specifically, the outcome suggests that CG apart from having direct impact on FV also influences the same through the mediation of VD. Moreover, as the direction of indirect impact coincide with direct impact, such indirect impact has complementary relationship with the direct impact, implying that when CG makes direct contribution towards improving FV, CG's contribution toward FV through mediation of VD also increases.

Originality/value

To the best of the author's knowledge, this is the first endeavor in the extant literature that examines the interaction performance impact of CG and VD. Further, the author also provides primary evidence on the mediating impact of VD in the relationship between CG and FV.

Details

Journal of Accounting in Emerging Economies, vol. 14 no. 1
Type: Research Article
ISSN: 2042-1168

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