International diversification, ownership structure and performance in an emerging market: evidence from Chile

Integrated reports combine financial and non-financial data into a comprehensive report outlining the company’s value creation process. Our objective is to find the completeness of disclosures, which is a crucial aspect of an integrated report’s quality. This study contributes to the integrated reporting examination by identifying quantitative and qualitative gaps when applying Integrated Reporting standards, focusing on the energy sector. We conducted the study on 57 published integrated reports of listed companies in Poland. The content of each report was examined for 49 features divided into eight areas. We identify the strengths and weaknesses of current reporting performance and the impact of the company’s sector on reports’ quality. We noted that there are significant differences among the areas. The major problems concern implementing IIRC’s framework on the connections between the business model and the organization’s strategy, risks, opportunities, and performance. Our research also noted that the level of specific disclosures might be related to a company’s ownership structure. We investigated the significance of differences among companies from the energy and non-energy sectors using statistical methods. As a result of the study, we obtained that disclosures’ completeness depends on the operation sector. The companies in the energy sector publish higher-quality integrated reports than companies in the other sectors.

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EXPRESS: Unbundling the Effects of Internationalization on Firm Performance in Emerging Economies: The Moderating Effects of Strategic Resource Decisions

Journal of International Marketing ◽

10.1177/1069031x211030686 ◽

2021 ◽

pp. 1069031X2110306

Author(s):

Nilay Bicakcioglu-Peynirci ◽

Robert E. Morgan

Keyword(s):

Firm Performance ◽

Emerging Economies ◽

Emerging Market ◽

Strategic Marketing ◽

Slack Resources ◽

Moderation Effect ◽

Strategic Resource ◽

And Performance ◽

Resource Decisions ◽

The Relationship

We investigate how strategic resource decisions—concerning slack resources and strategic marketing ambidexterity—influence the relationship between internationalization and firm performance of emerging market firms. Based upon the resource-based view, we synthesize two dominant, yet divergent, perspectives that explain the respective resource slack advantages and liabilities in the internationalization literature: the flexible capacity and the efficient capacity perspectives. We also explore the moderating role of strategic marketing ambidexterity which comprises a bundle of marketing activities covering both exploitation-dominant actions and exploration-dominant actions. We empirically examine our hypothesized relationships with data from a sample of 1,683 firm-year observations for the period between 2005 and 2018 and find that distinct forms of resource slacks have contrasting effects on the relationship between internationalization and performance. Our results provide strong evidence for positive moderation effect of unabsorbed slack resources and a negative moderation effect of absorbed slack resources on the internationalization-performance relationship. We also indicate nonsignificant moderating effect of strategic marketing ambidexterity, demonstrating that internationalization attains higher firm performance regardless of its exploration-dominant or exploitation-dominant strategic emphasis in emerging economies.

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Earnings management and ownership structure in emerging market

Managerial Finance ◽

10.1108/mf-11-2015-0312 ◽

2017 ◽

Vol 43 (10) ◽

pp. 1117-1136 ◽

Cited By ~ 6

Author(s):

Naima Lassoued ◽

Mouna Ben Rejeb Attia ◽

Houda Sassi

Keyword(s):

Emerging Markets ◽

Earnings Management ◽

Ownership Structure ◽

Audit Quality ◽

Emerging Market ◽

Middle Eastern ◽

Convincing Evidence ◽

Loan Loss ◽

African Countries ◽

Content Type

Purpose The purpose of this paper is to investigate whether ownership structure affects earnings management in the banking industry of emerging markets. Design/methodology/approach The empirical study is conducted using a sample of 134 banks from 12 Middle Eastern and North African countries. Econometrically speaking, the study used a panel data regression analysis. Findings The authors found convincing evidence that banks with more concentrated ownership use discretionary loan loss provisions to manage their earnings. The authors also found that state and institutional owners encourage earnings management, while family owners reduce this practice. Practical implications The findings would be valuable for investors since they should take into account ownership structure in order to reach a better investment decision. Moreover, regulatory reforms in emerging markets should push for more transparency about ownership structure, high levels of supervision, and external audit quality. Originality/value This study presents international evidence on the prominent role of owners in earnings management in emerging markets with weak shareholder rights protection.

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Political ties and performance of multinational corporations in Vietnamese emerging market

Accounting ◽

10.5267/j.ac.2020.3.002 ◽

2020 ◽

pp. 241-258 ◽

Cited By ~ 1

Author(s):

An Thi Hong Nguyen ◽

Phuong V. Nguyen ◽

Minh Ngoc Tuong Ly

Keyword(s):

Multinational Corporations ◽

Emerging Market ◽

Political Ties ◽

And Performance

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How do resources and diversification strategy explain the performance consequences of internationalization?

Management Decision ◽

10.1108/md-10-2013-0527 ◽

2014 ◽

Vol 52 (5) ◽

pp. 897-915 ◽

Cited By ~ 17

Author(s):

Yan Chen ◽

Yiwei Jiang ◽

Chengqi Wang ◽

Wen Chung Hsu

Keyword(s):

Emerging Market ◽

Product Diversification ◽

Firm Resources ◽

Diversification Strategy ◽

Data Set ◽

Content Type ◽

Listed Firms ◽

Performance Consequences ◽

Performance Effects ◽

And Performance

Purpose – The purpose of this paper is to examine how firm resources and diversification strategy explain the performance consequences of internationalization of emerging market enterprises. Design/methodology/approach – The paper conducts a regression analysis by using a novel panel data set comprising of 685 listed Chinese firms over the period of 2008-2011. Findings – The results show that the relationship between internationalization and performance is inverse U-shaped. Further, marketing resources play a greater role in enhancing the performance effects of internationalization than technological resources do. Related product diversification enhances the performance effects, while unrelated product diversification does the contrary. Research limitations/implications – The study focusses on listed firms in one country, and as a result, the findings cannot be generalized to non-listed firms and firms in other countries. Practical implications – This paper offers guidelines for international managers to improve performance of internationalization by developing a particular type of resources and diversification strategy. Originality/value – This paper extends the literature on the functional form of the internationalization-performance relationship, and further suggests that the analysis of the performance consequences of internationalization should go beyond the nexus between internationalization and performance, and focusses on firm-specific resources and strategies that may facilitate or constrain the performance effects of internationalization.

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