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Article
Publication date: 9 October 2017

Christine Reitmaier and Wolfgang Schultze

Enhanced business reporting (EBR) seeks to address the information needs of investors when making company valuations for investment decisions. The purpose of this paper is to…

1315

Abstract

Purpose

Enhanced business reporting (EBR) seeks to address the information needs of investors when making company valuations for investment decisions. The purpose of this paper is to analyze the relevance for market valuation of EBR disclosures that are directly related to firm valuation (value-based reporting (VBR)).

Design/methodology/approach

Data are hand collected from annual reports of German publicly listed companies over five years. The content analysis is based on the valuation-related disclosure framework of the German Schmalenbach Society of Business Administration. A 2SLS approach accounts for potential endogeneity.

Findings

Share-based compensation, leverage, corporate size, and share volatility are significant determinants of VBR. The level of VBR is significantly associated with market values and provides additional market value explanatory power, indicating its relevance to investors in the process of valuation and decision making. Also, the relevance of book value and earnings for explaining market values increases for firms with better VBR. The findings are robust to the exclusion of banks and assurance companies and to alternative model and variable specifications.

Research limitations/implications

The research contributes to the literature on voluntary disclosures by testing an EBR framework explicitly derived from valuation theory. The results provide indirect evidence of the investors’ use of respective valuation techniques in decision making. A contribution is made to the value relevance literature by showing that valuation-related disclosures constitute a suitable proxy for “other information” in the Ohlson’s (1995) model. Such disclosures complement traditional accounting metrics, i.e. book value and earnings, as basis for valuations. Potential caveats relate to the content analysis of annual reports and the endogeneity of voluntary disclosures.

Originality/value

This paper informs the debate on further developments of EBR in helping to identify important components thereof.

Details

Journal of Intellectual Capital, vol. 18 no. 4
Type: Research Article
ISSN: 1469-1930

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Article
Publication date: 10 August 2010

Wolfgang Schultze and Andreas Weiler

The purpose of this paper is to outline the link between value creation, performance measurement and goodwill accounting according to the International Financial Reporting…

6285

Abstract

Purpose

The purpose of this paper is to outline the link between value creation, performance measurement and goodwill accounting according to the International Financial Reporting Standards (IFRS) and United States Generally Accepted Accounting Principles (US‐GAAP). Since economic goodwill is identical to the present value of future residual income, the paper examines how accounting information gathered for impairment testing of goodwill according to International Accounting Standard (IAS) 36 and Financial Accounting Standard (FAS) 142 can be used for internal control purposes.

Design/methodology/approach

The paper adopts common assumptions in the literature of residual income‐based valuation and analytically derives a periodic performance measure of both value creation and its realization based on information available from impairment testing.

Findings

This paper demonstrates that information required by IFRS and US‐GAAP to evaluate a firm's goodwill can be used to design a performance measurement system which provides information about both value creation and realization of value.

Practical implications

From a practical perspective, the paper shows that appropriate adjustments of data used in impairment testing result in information which ideally fits the requirements of an optimal performance measurement system.

Originality/value

The paper presents a performance measure which provides information about the actual creation of value as well as its realization in a period and is superior to traditional residual income‐based performance measures.

Details

Managerial Finance, vol. 36 no. 9
Type: Research Article
ISSN: 0307-4358

Keywords

Available. Content available
Article
Publication date: 10 August 2010

Tyrone M. Carlin and Nigel Finch

1784

Abstract

Details

Managerial Finance, vol. 36 no. 9
Type: Research Article
ISSN: 0307-4358

Available. Content available

Abstract

Details

Journal of Intellectual Capital, vol. 17 no. 1
Type: Research Article
ISSN: 1469-1930

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Article
Publication date: 1 March 1986

Brian Waterfield, G. Kersuzan and Boguslaw Herod

The Benelux chapter has made a habit of organising meetings with a scientific and commercial accent more or less alternately. This approach has proven to be successful in the past…

40

Abstract

The Benelux chapter has made a habit of organising meetings with a scientific and commercial accent more or less alternately. This approach has proven to be successful in the past three years. The 1986 Autumn meeting will be another display meeting. A number of papers will be presented by suppliers of materials and equipment for the hybrid and surface mounting industry. In a 300 m2 exhibition room about 25 companies will display their products. The programme of the day leaves ample opportunity for meeting colleagues and suppliers. The meeting will be held in the ‘Jaarbeurs Vergadercentrum’ in Utrecht on 16 October from 9.30–17.00. The annual ISHM‐Benelux general membership meeting will precede the lectures.

Details

Microelectronics International, vol. 3 no. 3
Type: Research Article
ISSN: 1356-5362

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Book part
Publication date: 4 August 2008

Antonio Davila

Based on the more than 120 papers presented at the fourth conference on Performance Measurement and Control, this paper examines the current state of research in this field. It…

Abstract

Based on the more than 120 papers presented at the fourth conference on Performance Measurement and Control, this paper examines the current state of research in this field. It examines the diversity in research settings, theoretical backgrounds, research designs, and topics covered. The picture that emerges is that of a dynamic field where different ideas and perspectives converge to create a rich and interesting environment. The papers show the progress that this field has made both in terms of the quality of the research as well as the attractiveness of the research questions being addressed. The paper concludes with some thoughts about how to improve even more the quality going forward and an optimistic assessment of the future of the field.

Details

Performance Measurement and Management Control: Measuring and Rewarding Performance
Type: Book
ISBN: 978-1-84950-571-0

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Article
Publication date: 23 February 2024

Emanuele Gabriel Margherita and Alessio Maria Braccini

This paper uses dialectical inquiry to explore tensions that arise when adopting Industry 4.0 technologies in a lean production system and their reconciliation mechanisms.

567

Abstract

Purpose

This paper uses dialectical inquiry to explore tensions that arise when adopting Industry 4.0 technologies in a lean production system and their reconciliation mechanisms.

Design/methodology/approach

We conducted an in-depth qualitative case study over a 3-year period on an Italian division of an international electrotechnical organisation that produces electrical switches. This organisation successfully adopted Industry 4.0 technologies in a lean production system. The study is based on primary data such as observations and semi-structured interviews, along with secondary data.

Findings

We identify four empirically validated dialectic tensions arising across different Industry 4.0 adoption stages due to managers’ and workers’ contrasting interpretations of technologies. Consequently, we define the related reconciliation mechanisms that allow the effective adoption of various Industry 4.0 technologies to support a lean production system.

Originality/value

This is the first empirical investigation of tensions in the adoption of Industry 4.0 technologies in a lean production system. Furthermore, the paper presents four theoretical propositions and a conceptual model describing which tensions arise during the adoption of Industry 4.0 technologies in a lean production system and the reconciliation mechanisms that prevent lean production system deterioration.

Details

International Journal of Operations & Production Management, vol. 44 no. 6
Type: Research Article
ISSN: 0144-3577

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Article
Publication date: 18 January 2022

Runhui Lin, Lun Wang, Biting Li, Yanhong Lu, Zhiqiang Qi and Linyu Xie

Blockchain is a technical solution integrating multiple technologies, with the potential to overcome the drawbacks of organizational governance. Given the emergence and prevalence…

646

Abstract

Purpose

Blockchain is a technical solution integrating multiple technologies, with the potential to overcome the drawbacks of organizational governance. Given the emergence and prevalence of blockchain, its importance for organizational governance has progressively increased. Therefore, this study aims to analyze how blockchain restructure organizational governance.

Design/methodology/approach

This study presents a structured systematic literature review of blockchain-enabled applications across diverse organizational governance models and several case studies to illustrate them. Based on the above analysis, governance mechanisms, transaction upgrading and challenges are proposed.

Findings

Based on the literature review and typical applications, the authors summarize the advances in the research on the theoretical and practical applications of blockchain in organizational governance. We also identify the influence mechanisms of organizational governance and investigate transaction upgrading based on blockchain. Finally, the authors discuss three types of challenges (i.e. administrative, technical and environmental) to the relationship between blockchain and organizational governance. Along with the development of blockchain applications, the impact of blockchain on organizational governance has progressed in both theory and practice. Therefore, these findings will have significant implications for both academics and practitioners.

Originality/value

This paper makes three key theoretical contributions: we review the literature on the impact of blockchain on organizational governance and present typical cases to illustrate it; propose four governance mechanisms for the application of blockchain in organizational governance; and propose an innovating-and-matching-oriented model of transaction upgrading based on blockchain.

Details

Nankai Business Review International, vol. 14 no. 2
Type: Research Article
ISSN: 2040-8749

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