scholarly journals Exploring the meaning of climate change discourses: an impression management exercise?

2019 ◽  
Vol 32 (2) ◽  
pp. 113-128 ◽  
Author(s):  
Nik Nazli Nik Ahmad ◽  
Dewan Mahboob Hossain
Keyword(s):  
Climate Change ◽  
Impression Management ◽  
Practical Implication ◽  
Management Strategies ◽  
Annual Reports ◽  
Content Type ◽  
Climate Change Information ◽  
Environmentally Sensitive ◽  
Practical Implications ◽  
Different Levels

Purpose This study aims to analyze how language is used to present climate change information in the narratives of Malaysian companies’ annual reports. Design/methodology/approach The study uses content analysis and discourse analysis, and Brennan et al.’s (2009) impression management strategies and legitimacy theory were applied to explain findings. Findings Much of the discourses are rhetorical in nature and can be considered as corporate attempts to appear concerned for climate change, consistent with an attempt to appear legitimate and manage impressions. Research limitations/implications The first limitation is the purposive sampling used which limits the generalizability of the findings. The second limitation is that the study neglects to focus on companies in environmentally sensitive sectors which have more substantial adverse impacts. The third limitation is that the study did not examine all types of impression management strategies, limiting itself only to strategies which provide a favorable view of the firm. Finally, the study did not attempt to investigate the different levels of impression management strategies. Practical implications A major practical implication is for regulators to consider mandatory climate change reporting at least for the sectors which contribute adversely to global warming. Originality/value This is a first attempt to examine climate change discourses in a developing country.

Management discussion and analysis: a tone analysis on US financial listed companies

2019 ◽  
Vol 58 (3) ◽  
pp. 510-525
Author(s):  
Carlo Caserio ◽  
Delio Panaro ◽  
Sara Trucco
Keyword(s):  
Impression Management ◽  
Design Methodology ◽  
Management Strategies ◽  
Policy Makers ◽  
Content Type ◽  
Financial Firms ◽  
Financial Conditions ◽  
The Usa ◽  
One Year ◽  
Practical Implications

Purpose The purpose of this paper is to investigate whether financial companies of the USA are inclined to manipulate the management discussion and analysis (MD&A) tone and thus to follow impression management behaviours. Also, the paper proposes a tone analysis of MD&As conducted by comparing the tone of MD&As of one year with financial conditions of the same year and the next. Design/methodology/approach The tone analysis is conducted on two sub-samples of US-listed financial companies, unhealthy firms and healthy firms, which experienced different financial conditions between 2002 and 2011. Findings With regard to healthy firms, MD&A tone is useful to explain the current year’s performance and helps to predict next year performance, whereas, with reference to unhealthy companies, managers use the tone to pursue impression management strategies, by using more positive words and more future-oriented words than healthy companies. Research limitations/implications This study analyses the correlation between MD&A tone at time t and financial performance at time t and t+1, it does not investigate other time spans. The empirical results of this study cannot be generalized to other countries. Practical implications Main implications are addressed to regulators and policy makers, which may contrast impression management through a more effective regulation. Another implication regards investors, who cannot fully rely on MD&As of unhealthy companies. Originality/value This study analyses financial companies, rather neglected by the literature on MD&A tone. Results suggest that financial firms are also inclined to engage in impression management. This research would be useful for investors who base their decisions on qualitative analysis, interested in understanding to what extent the MD&A narratives are reliable.

Macao's gaming credit practices: 15 years after the gaming credit law

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Carlos Siu Lam
Keyword(s):  
Design Methodology ◽  
Annual Reports ◽  
Government Officials ◽  
Content Type ◽  
Documentary Analysis ◽  
Credit Law ◽  
Depth Interviews ◽  
Practical Implications ◽  
Different Levels ◽  
Experienced Difficulty

PurposeThe purpose of this paper is to discuss the evolution of Macao's gaming credit practices with reference to its promulgation of the gaming credit law after its gaming liberalization.Design/methodology/approachA qualitative approach based on in-depth interviews with casino executives, government officials and gamblers to probe their perspectives on Macao's gaming credit practices was adopted due to its underresearched nature. Documentary analysis of annual reports and court files was also used.FindingsDespite the potential of increased revenue with more credit, the credit risk for gaming concessionaires remained under control, while VIP-rooms and junket operators have adopted more prudent policy and faced substantial challenge in credit collection. All these would lead to greater alignment with law-based credit practices.Research limitations/implicationsSince gaming credit information was considered confidential, the author experienced difficulty in arranging the interviews, and the nonprobability sampling characterized by the selection bias might affect the findings.Practical implicationsThe findings have demonstrated some major credit practices such as credit charges on credit balances and terms and conditions for repayment for different credit providers in Macao.Originality/valueThe different credit practices by credit providers at different levels of gaming credit have been presented in the same paper.

The effect of award on CSR disclosures in annual reports of Malaysian PLCs

2015 ◽  
Vol 11 (4) ◽  
pp. 831-852 ◽  
Author(s):  
Abdirahman Anas ◽  
Hafiz Majdi Abdul Rashid ◽  
Hairul Azlan Annuar
Keyword(s):  
Climate Change ◽  
Annual Reports ◽  
Content Type ◽  
Reporting Practices ◽  
Csr Reporting ◽  
The Moment ◽  
Csr Disclosure ◽  
Corporate Social ◽  
Practical Implications

Purpose – The paper aims to examine the determinants of corporate social responsibility (CSR) disclosures in the annual reports of Malaysian public listed companies (PLCs). In 2006, Bursa Malaysia Berhad (BMB) launched its CSR Framework (effective in 2007) which is supposed to guide the Malaysian PLCs’ CSR disclosures. It is believed that this CSR framework may influence CSR disclosures to be more systematic, yet there is no evidence whether this framework influences the extent and quality of CSR disclosures. Thus, this study examines this area of research. The study also tests the influence of award on CSR disclosures. Design/methodology/approach – CSR disclosure checklist was developed to analyse the extent and quality of CSR information disclosures in the year 2008 annual reports of the Malaysian PLCs. Findings – Malaysian PLCs disclose more CSR information related to community and environment than workplace and marketplace CSR themes. On the other hand, the quality of disclosure practices was minimal when it is compared to the extent of disclosure practices. Finally, the study also found that the award’s variable has a significant positive relationship with both the extent and quality of CSR disclosure practices of the Malaysian PLCs. Research limitations/implications – The recently developed BMB’s CSR framework seems to have impact on the level and systematic CSR reporting practices of Malaysian PLCs. However, the quality of CSR disclosures is considered minimal. Practical implications – The results of the study bring some practical implications to the regulators, particularly Bursa Malaysia. First, it is good to observe that most companies have practiced specific disclosure in a separate statement with regard to CSR. However, the format of presentation and the extent of disclosure vary among the firms. Second, further guidelines need to be developed to provide a clearer framework of disclosure for CSR information. At the moment, Bursa Malaysia only listed down general principles of CSR themes. In addition, the regulators should also look into the evolving issues in CSR, such as the issue of climate change reporting. For example, the Climate Disclosure Standards Board has issued a voluntary Climate Change Reporting Framework. Originality/value – This study examined both the traditional (i.e. firm size and profitability) and non-traditional (i.e. award) factors influencing management’s decision to disclose CSR information in the annual reports of the Malaysian PLCs. Furthermore, the study reported how Malaysian PLCs comply with the recently implemented CSR framework issued by BMB.

Impact of stakeholder pressure on the adoption of carbon management strategies

2020 ◽  
Vol 11 (7) ◽  
pp. 1189-1212
Author(s):  
Somaiya Yunus ◽  
Evangeline O. Elijido-Ten ◽  
Subhash Abhayawansa
Keyword(s):  
Climate Change ◽  
Voluntary Disclosure ◽  
Carbon Tax ◽  
Management Strategies ◽  
Annual Reports ◽  
Content Type ◽  
Carbon Management ◽  
Thomson Reuters ◽  
Innovation Strategies ◽  
The Government

Purpose This paper aims to examine whether the perceived pressures from stakeholders with high potential to cooperate and/or threaten the firm’s survival affect the decision to adopt carbon management strategies (CMSs). Design/methodology/approach A logistic panel regression model is estimated using longitudinal data from Australia’s Top-200 listed firms over seven years from 2009 to 2015. The authors test the firm’s propensity to adopt CMSs conditioned on the influence of four groups of stakeholders: the regulators, institutional investors, media and creditors. Data on CMSs adopted by firms are sourced from Thomson Reuters ASSET4 database, the Carbon Disclosure Project survey, annual reports, company websites and sustainability reports. Findings The authors show that stakeholder pressures are associated not only with the adoption or non-adoption of CMSs but also with the type of CMSs adopted. Three types of CMSs are identified, namely, compensation, reduction and innovation strategies. The findings reveal that CMS adoption and the firms’ propensity to adopt compensation and reduction strategies are significantly related to perceived pressures from the regulators, media and creditors. While pressure from the regulators is also associated with the firms’ propensity to adopt innovation strategies, a more advanced type of CMSs, the potential pressure from the media and creditors are not significantly related. Practical implications The findings imply that a firm’s adoption of CMSs is not merely about managing stakeholders in the regulatory sphere but also about taking into account the perceived pressures from non-regulatory stakeholders and the context-dependent nature of their influences. The authors show that by influencing the voluntary disclosure of carbon emissions, the government continues to be effective in encouraging firms to take action on climate change despite the abolition of the carbon tax in Australia. Social implications This study highlights that, apart from a heavy-handed approach, regulators can adopt softer forms of regulation such as the National Greenhouse and Energy Reporting (NGER) Act and a less invasive, stakeholder-driven approach to encourage firms to adopt CMSs and thereby work towards climate change mitigation. Originality/value This study extends the literature by showing that perceived pressure from some stakeholders found to be influential in relation to some corporate decisions (such as environmental strategy adoption and climate-change-related disclosure) may not necessarily be influential in relation to CMS adoption.

Female board participation and annual report readability in firms with boardroom connections

2018 ◽  
Vol 33 (4) ◽  
pp. 296-314 ◽  
Author(s):  
Gianluca Ginesti ◽  
Carlo Drago ◽  
Riccardo Macchioni ◽  
Giuseppe Sannino
Keyword(s):  
Opposite Effect ◽  
Annual Report ◽  
Positive Impact ◽  
Policy Implications ◽  
Annual Reports ◽  
Disclosure Quality ◽  
Content Type ◽  
The Relationship ◽  
Practical Implications ◽  
Different Levels

Purpose This paper aims to investigate the relationship between the female board participation and the readability of annual report. Design/methodology/approach Using hand-collected data from a “network-oriented market”, as exists in Italy, which includes 435 annual reports, this study uses a regression analysis to test whether female board participation affects the annual report readability. Findings Female board participation is found to have a positive impact on disclosure readability in firms with small boardroom connections but the opposite effect in firms with large boardroom connections. Research limitations/implications This paper responds to recent calls in the corporate governance literature by investigating whether the female board participation affects the transparency of the disclosure practices. Practical implications This study has policy implications, as it helps to improve evaluations of how, and under which circumstances, female board participation may lead to higher disclosure quality and thus benefit investors. Originality/value This paper shows that female board participation has different effects on the disclosure readability at different levels of board positions in inter-firm networks.

scholarly journals Does graphical reporting improve risk disclosure? Evidence from European banks

2018 ◽  
Vol 19 (1) ◽  
pp. 161-180 ◽  
Author(s):  
Michael Jones ◽  
Andrea Melis ◽  
Silvia Gaia ◽  
Simone Aresu
Keyword(s):  
Credit Risk ◽  
Impression Management ◽  
Perspective Taking ◽  
Voluntary Disclosure ◽  
Cognitive Biases ◽  
Annual Reports ◽  
Theory Approach ◽  
Risk Disclosure ◽  
Content Type ◽  
Incremental Information

Purpose The purpose of this paper is to examine the voluntary disclosure of risk-related issues, with a focus on credit risk, in graphical reporting for listed banks in the major European economies. It aims to understand if banks portray credit risk-related information in graphs accurately and whether these graphs provide incremental, rather than replicative, information. It also investigates whether credit risk-related graphs provide a fair representation of risk performance or a more favourable impression than is warranted. Design/methodology/approach A graphical accuracy index was constructed. Incremental information was measured. A multi-level linear model investigated whether credit risk affects the quantity and quality of graphical credit risk disclosure. Findings Banks used credit risk graphs to provide incremental information. They were also selective, with riskier banks less likely to use risk graphs. Banks were accurate in their graphical reporting, particularly those with high levels of credit risk. These findings can be explained within an impression management perspective taking human cognitive biases into account. Preparers of risk graphs seem to prefer selective omission over obfuscation via inaccuracy. This probably reflects the fact that individuals, and by implication annual report’s users, generally judge the provision of inaccurate information more harshly than the omission of unfavourable information. Research limitations/implications This study provides theoretical insights by pointing out the limitations of a purely economics-based agency theory approach to impression management. Practical implications The study suggests annual reports’ readers need to be careful about subtle forms of impression management, such as those exploiting their cognitive bias. Regulatory and professional bodies should develop guidelines to ensure neutral and comparable graphical disclosure. Originality/value This study provides a substantive alternative to the predominant economic perspective on impression management in corporate reporting, by incorporating a psychological perspective taking human cognitive biases into account.

scholarly journals “Happy slaves”? The adaptation problem and identity politics in the writings of Amartya Sen

2016 ◽  
Vol 43 (12) ◽  
pp. 1178-1193
Author(s):  
Tony Burns
Keyword(s):  
Identity Politics ◽  
Design Methodology ◽  
Conceptual Analysis ◽  
Practical Implication ◽  
Methodological Approach ◽  
Mary Wollstonecraft ◽  
Amartya Sen ◽  
Content Type ◽  
The Relationship ◽  
Practical Implications

Purpose The purpose of this paper is to examine the relationship between Amartya Sen’s notion of adaptation and his views on identity politics by focussing on the issue of slavery and, more specifically, on the example of the happy or contented slave. Design/methodology/approach The paper is text based. The methodological approach adopted is that of conceptual analysis, as is typical for work of this kind. Findings The paper concludes that the example of the happy or contented slave is indeed a fruitful one for those interested in exploring the relationship between Sen’s views on “the adaptation problem” and his views on identity politics, especially in relation to the subjection of women. Here Sen’s debt to the ideas of Mary Wollstonecraft and John Stuart Mill is particularly important. Research limitations/implications One implication of the argument of the paper is that there is a need to consider more carefully the differences that exist between the views of Wollstonecraft and Mill, so far as the example of the happy or contented slave is concerned. Practical implications One practical implication of the paper is that, hopefully, it establishes the continued relevance of the ideas of thinkers such as Wollstonecraft and Mill today, not least because of the influence that they have had on theoreticians such as Amartya Sen. Social implications The paper addresses issues which are of considerable social and political significance, especially for women in underdeveloped societies today. Originality/value The example of the happy or contented slave has not received much discussion in the literature on Sen, although Sen himself has suggested that the distinction between happiness and contentment is an important one, which does merit further discussion.

Financial battle against climate change – assessing effectiveness using a scorecard

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Candauda Arachchige Saliya ◽  
Suesh Kumar Pandey
Keyword(s):  
Climate Change ◽  
Financial Risk ◽  
Financial System ◽  
Regulatory Agencies ◽  
Theoretical Frameworks ◽  
Content Type ◽  
Banking Regulations ◽  
And Control ◽  
The Impact ◽  
Practical Implications

Purpose This paper aims to investigate how and to what extent the Fijian sustainable banking regulations or guidelines are designed, communicated, implemented and monitored within the financial system in Fiji. A scorecard is introduced for this purpose to assess the effectiveness of Fiji’s financial battle against climate change (FBACC). Design/methodology/approach This study uses a mixed-method methodology. Data were collected mainly from a survey and supplemented by interviews, observations and documents. The scorecard was developed by building on existing two theoretical frameworks, namely, the Sustainable Banking Assessment and Climate Change Governance Index, to make them more appropriate and practically applicable to less developed financial systems in emerging economies such as Fiji. This FBACC scorecard consists of four perspectives, eight critical factors and 24 criteria. Findings The results show that the overall FBACC score averages 40.75%, and all the perspectives scored below 50%, the benchmark. Only the CF “policy” scored 54.25% because of a high positive response of 82.3% for the “political leadership” criterion. The relative contributions of each perspective in constructing the overall score are distributed as 28%, 25%, 24% and 23% among planning, action, accountability and control, respectively. Research limitations/implications These results were complemented by the information shared during the interviews and confirmed that the existing political initiatives need to be effectively communicated and/or implemented in the financial system by the regulatory agencies. Practical implications This FBACC scorecard can be applied to other underdeveloped systems in emerging countries to assess the effectiveness of the sustainable banking regulations and/or guidelines in those countries in relation to the FBACC. It can also be applied to individual firms to assess their contribution to the FBACC. Originality/value To the authors’ best knowledge, this might be the first study in Fiji that considers the impact of climate-related financial risk on the Fijian financial system.

Board characteristics and integrated reporting quality: evidence from ESG European companies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Salim Chouaibi ◽  
Yamina Chouaibi ◽  
Ghazi Zouari
Keyword(s):  
Risk Estimation ◽  
Reporting Quality ◽  
Annual Reports ◽  
Integrated Reporting ◽  
Stock Volatility ◽  
Content Type ◽  
Board Characteristics ◽  
Thomson Reuters ◽  
Related Quality ◽  
Practical Implications

PurposeThe aim of this study is to analyze the possible relationship between board characteristics and integrated reporting quality in an international setting.Design/methodology/approachTo test the study's hypotheses, the authors applied linear regressions with a panel data, and the authors collected data from the Thomson Reuters database (ASSET4) and from the annual reports from European companies to analyze data of 253 listed companies selected from the environmental, social and governance (ESG) index between 2010 and 2019.FindingsThe reached empirical results prove to indicate well that both of the board size, independence and diversity appear to have a significantly positive effect on the integrated reporting quality. Noteworthy, also, is the fact that the appointment of an independent nonexecutive chairman is positively associated with the integrated reporting related quality, and holds for firms with a nonindependent chairman.Practical implicationsBeyond the theoretical implications, our study also has several practical implications. These findings are particularly relevant for managers, shareholders, and policymakers. Thus, stakeholders should consider the accuracy of disclosure in determining the optimal reporting strategy (reducing risk estimation, returns' stock volatility, increasing long-term shareholder value and reputation of the firm).Originality/valueThis article is motivated by the low number of works in the context about the corporate social responsibility and sustainability issues. It makes an important contribution to the academic literature by adding to the limited body of research on integrated reporting and corporate governance in an ESG company setting. The study is also important for practitioners seeking to improve the quality of their integrated reports.

Does the second wave of COVID-19 undermine corporate immunity? International evidence

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Huy Viet Hoang ◽  
Cuong Nguyen ◽  
Khanh Hoang
Keyword(s):  
Stock Returns ◽  
Stock Price ◽  
Fixed Effects ◽  
Management Strategies ◽  
The United States ◽  
Least Square ◽  
Content Type ◽  
The Impact ◽  
Second Wave ◽  
Practical Implications

PurposeThis study compares the impact of the COVID-19 pandemic on stock returns in the first two waves of infection across selected markets, given built-in corporate immunity before the global outbreak.Design/methodology/approachThe data are collected from listed firms in five markets that have experienced the second wave of COVID-19 contagion, namely the United States (US), Australia, China, Hong Kong and South Korea. The period of investigation in this study ranges from January 24 to August 28, 2020 to cover the first two COVID-19 waves in selected markets. The study estimates the research model by employing the ordinary least square method with fixed effects to control for the heterogeneity that may confound the empirical outcomes.FindingsThe analysis reveals that firms with larger size and more cash reserves before the COVID-19 outbreak have better stock performance under the first wave; however, these advantages impede stock resilience during the second wave. Corporate governance practices significantly influence stock returns only in the first wave as their effects fade when the second wave emerges. The results also suggest that in economies with greater power distance, although stock price depreciation was milder in the first wave, it is more intense when new cases again surge after the first wave was contained.Practical implicationsThis paper provides practical implications for corporate managers, policymakers and governments concerning crisis management strategies for COVID-19 and future pandemics.Originality/valueThis study is the first to evaluate built-in corporate immunity before the COVID-19 shock under successive contagious waves. Besides, this study accentuates the importance of cultural understanding in weathering the ongoing pandemic across different markets.

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