This paper aims to evaluate the relation between acquisition premiums and amounts recognised as identifiable intangible assets (IIAs) in business combination, in periods before…
Abstract
Purpose
This paper aims to evaluate the relation between acquisition premiums and amounts recognised as identifiable intangible assets (IIAs) in business combination, in periods before and after transition to International Financial Reporting Standards (IFRS).
Design/methodology/approach
This is an empirical archival research using data from business acquisitions.
Findings
In the pre-IFRS period, there is evidence of firms recognising IIAs in business combinations having higher acquisition premiums. This association of acquisition premiums and IIAs ceased with transition to IFRS, notwithstanding the relative latitude provided in accounting standards for the recognition of IIAs.
Research limitations/implications
This paper complements the study by Su and Wells (2015) which founds little association between IIAs and performance subsequent to business acquisitions prior to transition to IFRS. The results here suggest that it is attributable to overpayment. Problematically, the incentives for opportunism remain and an issue requiring address is whether alternative sources of accounting flexibility in relation to business combinations exist, such as goodwill which is no longer subject to mandatory amortisation.
Practical implications
The results are consistent with accounting opportunism and suggest “overpayment” and accounting flexibility having an economic consequence. This would be expected to result in asset impairments in subsequent periods; however, there is little evidence of this occurring.
Social implications
These results have relevance for regulators concerned with the operation of regulation relating to business acquisitions (AASB 3) and intangible assets (AASB 138).
Originality/value
This paper complements a number of papers concerned with the recognition of IIAs in business combinations and confirms what many researchers in the area typically assume (triangulation).
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Purpose and methodology – Focusing on the policy contexts of gender education in Taiwan, this chapter uses data from interviews with elite policymakers and policy documents to…
Abstract
Purpose and methodology – Focusing on the policy contexts of gender education in Taiwan, this chapter uses data from interviews with elite policymakers and policy documents to examine how feminist activists sought to legitimatize gender equity in education in the wake of the comprehensive social and educational reforms of the 1990s and early years of this decade.
Findings – The embedding of gender in education did not follow a smooth path in terms of policy formulation. Feminist activists drove the process of reform by retaining control over the naming of the legislation, and its wording, thus preserving the language and imperatives of gender equity.
Social implications – In this chapter, I examine the formation of the Gender Equity Education Law, detailing the struggles, contentions, and negotiations that underlay the eventual approval of gender reform in education.
Originality/value of chapter – The chapter contributes significantly by identifying the necessity to recognize the nature of the state and its relations with society in order to research gender in education in Taiwan.
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Hinrich Voss, Peter J. Buckley and Adam R. Cross
Mainland Chinese firms have become important international investors. Many have gained their capabilities to internationalize in a domestic institutional environment characterised…
Abstract
Mainland Chinese firms have become important international investors. Many have gained their capabilities to internationalize in a domestic institutional environment characterised by significant market imperfections. In this study, we argue that the imperfections affect firm behavior depending on firm size, ownership form, and location. We find preliminary support for the notion that large, well connected Chinese firms benefit most from institutional advantages, but that smaller firms internationalize because of institutional constraints. This represents a more nuanced view of the determinants of Chinese firm internationalization than is evident in prior research, with consequences for future theorising and empirical research on Chinese MNEs.
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Tommy K.C. Ng, Man Fung Lo and Ben Y.F. Fong
Traditional Chinese medicine (TCM) had a long history and has been widely practiced worldwide. TCM includes acupunctures, herbal medicine and chiropractic. However, limited…
Abstract
Purpose
Traditional Chinese medicine (TCM) had a long history and has been widely practiced worldwide. TCM includes acupunctures, herbal medicine and chiropractic. However, limited studies examined the relationship between knowledge, attitude, utilisation and satisfaction of TCM among the Hong Kong general public. This study has developed a research model which aims to examine the relationship between knowledge, attitude, utilisation and satisfaction of TCM in Hong Kong by using partial least square structural equation model.
Design/methodology/approach
An online-based questionnaire was distributed by using convenience sampling. The questionnaire consisted of five parts to collect the data regarding the knowledge, attitude, utilisation and satisfaction of TCM of respondents. The reflective measurement model and structural model were examined with SmartPLS 3.0 statistical software.
Findings
A total of 131 respondents completed the survey, and all data were valid after data screening and cleaning. Around 60% of the participants received TCM information from their friends and family members, and 42% from the internet. Likewise, there is positive relationship from the knowledge of TCM to the utilisation, from the attitude to the utilisation and from the utilisation of TCM to the satisfaction. However, the positive relationship of knowledge regarding TCM and attitude is not proven. A t-test and one-way analysis of variance showed no significant differences between gender and age groups on each measurement items.
Originality/value
This paper provides insights for researchers and policymakers to understand the significance of attitude and perception of the benefits of treatments in the use of TCM. The positive experience of TCM from other people is essential for enhancing the willingness to use TCM while education is also fundamental in promoting TCM to the public.
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Caleb Kwong, Charan Raj Bhattarai, Min Prasad Bhandari and Cherry W. M. Cheung
Literature on the relationship between social performance and economic performance of social enterprises has long been inconclusive. This paper aims to investigate whether and, if…
Abstract
Purpose
Literature on the relationship between social performance and economic performance of social enterprises has long been inconclusive. This paper aims to investigate whether and, if so, how social performance contributes to economic performance of social enterprises. Specifically, drawing from the resource-based view and signalling theory, the study examines how the development of reputation, which enables social enterprises to signal the enterprises' stakeholders' commitment towards social causes, mediates the relationship between the two.
Design/methodology/approach
Employing a quantitative research design, data were collected from a sample of 164 social enterprises in the UK and analysed using structural equation modelling (SEM).
Findings
The results illustrate that whilst the direct relationship between social and economic performance is inconclusive, social performance contributes indirectly to improve economic performance through improving social enterprise reputation.
Originality/value
To the best of the authors' knowledge, this study is the first of this kind in the context of social enterprises which sheds light on the long-standing conflicting literature on the relationship between the dual objectives (i.e. social and economic) by providing reputation as the mediating variable.
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Redhwan Aldhamari, Mohamad Naimi Mohamad Nor, Omar Al Farooque and Haithm Mohammed Al-sabri
The authors empirically investigate the impact of the existence of a stand-alone risk committee (RC) and its characteristics on the likelihood of stock price crash risk in listed…
Abstract
Purpose
The authors empirically investigate the impact of the existence of a stand-alone risk committee (RC) and its characteristics on the likelihood of stock price crash risk in listed financial firms on the Bursa Malaysia. The authors also test whether the effect of RC on crash risk is attenuating or amplifying by the level of institutional ownership.
Design/methodology/approach
The authors use a principal components analysis (PCA) to aggregate and derive a factor score for risk committee characteristics (i.e. independence, qualification, and size) as a proxy for the effectiveness of RC. The study also employs two distinct stock price crash risk measurements to corroborate the findings and partition institutional ownership into dedicated and transient to examine the potential impact of institutional shareholding on RC-stock price crash risk association.
Findings
Regression analysis reveals that only RC qualification has a significant negative impact on stock price crash risk. However, when RC characteristics are aggregated into one composite factor, the authors find that firms with effective RCs exhibit lower risk of stock price crash. The authors also find that firms with high level of institutional shareholdings and effective RCs are less likely to experience crash risk likelihood. The additional analyses indicate that the complementary moderating effect of institutional ownership on RC-crash risk nexus is likely to be driven by dedicated institutional ownership. The results are robust across two measures of stock price crash risk and regression specifications for a longer run window.
Originality/value
The study, to the best of the researchers' knowledge, is the first to provide evidence in an emerging market financial sector companies' perspective suggesting that effective RCs are individually and aggregately associated with lower stock price crash risk, which is further strengthened by dedicated institutional investors. These findings are unique and contribute to a small but growing body of literature documenting the need for effective RCs and specific institutional investors and their consequences of improvements in stock price crash risk environment. Results of our research in this area provide important insights to financial and capital market participants, investors, regulators, and policymakers in Malaysia.