The UK Stewardship Code and investee earnings quality

2018 ◽  
Vol 31 (3) ◽  
pp. 388-404 ◽  
Author(s):  
Chun Lu ◽  
Jacqui Christensen ◽  
Janice Hollindale ◽  
James Routledge
Keyword(s):  
Institutional Investors ◽  
Design Methodology ◽  
Earnings Quality ◽  
Institutional Investor ◽  
Content Type ◽  
Accruals Quality ◽  
The Uk ◽  
Code Compliance

Purpose The UK Stewardship Code was the first voluntary governance code specifically for institutional investors. The Code sets out the principles of effective stewardship by institutional investors toward their investee companies with the aim of improving long-term risk-adjusted returns to shareholders. This paper aims to examine whether compliance by institutional investors with UK Stewardship Code is related to the earnings quality of their investee companies. Design/methodology/approach The association between institutional investor Code compliance and Code compliance quality and investee company accruals quality is investigated. Findings For a sample of large UK listed companies from 2013, the authors find reasonably high levels of compliance with the Code by institutional investors. The analysis does not suggest that Code compliance is positively related to investee company earnings quality. Rather, the finding is that substantial or long-term investments are more likely to result in effective stewardship regardless of Code compliance. Originality/value This study offers valuable insights regarding the efficacy of the Stewardship Code’s policy approach to improving corporate governance by institutional investors.

scholarly journals Opportunities and challenges of using socially intelligent agents: increasing interaction and school participation for children suffering from a long-term illness

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Eva Mårell-Olsson ◽  
Thomas Mejtoft ◽  
Sofia Tovedal ◽  
Ulrik Söderström
Keyword(s):  
Intelligent Agents ◽  
Design Methodology ◽  
Holistic Approach ◽  
Negative Effects ◽  
Content Type ◽  
Medical Needs ◽  
Societal Benefits ◽  
School Participation

PurposeChildren suffering from cancer or cardiovascular disease, who need extended periods of treatment in hospitals, are subjected to multiple hardships apart from the physical implications, for example, experienced isolation and disrupted social and academic development. This has negative effects long after the child's recovery from the illness. The purpose of this paper is to examine the non-medical needs of children suffering from a long-term illness, as well as research the field of artificial intelligence (AI) – more specifically, the use of socially intelligent agents (SIAs) – in order to study how technology can enhance children's interaction, participation and quality of life.Design/methodology/approachInterviews were performed with experts in three fields: housing manager for hospitalized children, a professor in computing science and researcher in AI, and an engineer and developer at a tech company.FindingsIt is important for children to be able to take control of the narrative by using an SIA to support the documentation of their period of illness, for example. This could serve as a way of processing emotions, documenting educational development or keeping a reference for later in life. The findings also show that the societal benefits of AI include automating mundane tasks and recognizing patterns.Originality/valueThe originality of this study concerns the holistic approach of increasing the knowledge and understanding of these children's specific needs and challenges, particularly regarding their participation and interaction with teachers and friends at school, using an SIA.

Behavioral biases on institutional investors: a literature review

Kybernetes ◽  
2016 ◽  
Vol 45 (10) ◽  
pp. 1668-1684 ◽  
Author(s):  
Selim Aren ◽  
Sibel Dinç Aydemir ◽  
Yasin Şehitoğlu
Keyword(s):  
Literature Review ◽  
Empirical Evidence ◽  
Institutional Investors ◽  
Design Methodology ◽  
Home Bias ◽  
Institutional Investor ◽  
Disposition Effect ◽  
Herding Behavior ◽  
Content Type ◽  
Behavioral Biases

Purpose The purpose of this paper is to evaluate published institutional investor research focused on home bias, disposition effect, and herding behavior in recognized journals and to ascertain some substantial gaps with regard to them. Design/methodology/approach Recently published studies between 2005 and 2014, which intend to examine behavioral biases on institutional investors, have been reviewed through juxtaposing them under the three fundamental titles and figuring them according to the explanation why these biases occurs. Findings The research examining home bias has identified the presence of this effect on institutional investors and explained it with information or culture. Yet, the existence of disposition effect has not been found in the extant research. These studies have estimated disposition effect through overconfidence and experience. Also, extant studies have provided evidence of herding behavior, attributing this behavior to pursuing same published information and protecting their reputation and career. Originality/value Currently, no study, which reviews and evaluates the empirical research body on behavioral biases displayed institutional investors, exists. To the authors’ knowledge, this is the first paper which highlights the empirical evidence on these bias and summarizes the explanations in these studies for these biases exhibited by institutional investors. This could contribute to the researchers focusing on behavioral biases on institutional investors by providing them with a meaningful figuralization regarding their evidence and explanation.

Financial support systems: the student experience in England and France

2005 ◽  
Vol 32 (1/2) ◽  
pp. 121-132 ◽  
Author(s):  
Susan Curtis ◽  
Rita Klapper
Keyword(s):  
Design Methodology ◽  
Financial Burden ◽  
Content Type ◽  
Financial Status ◽  
Financial Difficulties ◽  
University Life ◽  
The Uk ◽  
English Students ◽  
Practical Implications

PurposeTo investigate how the financial status of students in England and France affects their experience of university life.Design/methodology/approachA questionnaire survey was carried out among undergraduates in two countries. There were 168 responses from students studying at a French university and 325 responses from students studying at an English university.FindingsThe financial burden in France rests with parents, while in England students are largely responsible for their own funding. Indicators suggest that English students may be suffering from financial difficulties. Students continue the tradition of enjoying themselves and socialising, whatever their nationality and financial status.Research limitations/implicationsThe comparison made was not between institutions of equal status. The Institut de Formation Internationale in Rouen is part of a Grande Ecole group which is private, and may attract students from higher income families. The students at Manchester Metropolitan University Cheshire study in a rural locale (the towns of Crewe and Alsager in south Cheshire), which is unusual for a UK university and it may well be that a lower proportion of these undergraduates come from higher income families than the French students.Practical implicationsWhile it would seem to be more equitable and economically efficient for individuals to pay directly for services they receive, rather than those services being funded by higher tax, this study highlights certain problems. The quality of the educational experience for English students may be reduced by their continuing to live at home with parents and carrying out low level work while studying.Originality/valueNo other research appears to have been carried out in the UK or in France on this topic.

Choice of governance structure and earnings quality

2016 ◽  
Vol 29 (4) ◽  
pp. 372-390 ◽  
Author(s):  
Pamela Kent ◽  
Richard Anthony Kent ◽  
James Routledge ◽  
Jenny Stewart
Keyword(s):  
Cluster Analysis ◽  
Corporate Governance ◽  
Firm Size ◽  
Design Methodology ◽  
Best Practice ◽  
Earnings Quality ◽  
Governance Structure ◽  
Governance Mechanisms ◽  
Content Type

Purpose The purpose of this paper is to examine the effectiveness of voluntary governance mechanisms in Australia. Design/methodology/approach This study identifies similar choices of corporate governance by Australian firms and tests the effectiveness of the choices made based on the earnings quality of reported firms. Cluster analysis is conducted using governance best practice variables, firm size and an earnings quality variable. Findings This paper’s results support the voluntary governance approach for smaller firms, but suggest that mandatory governance requirements could be beneficial for larger firms. Evidence suggests that a benefit accrues for larger firms with the adoption of governance best practice. Cluster analysis indicates that larger firms tend to exhibit higher levels of adoption of governance best practice than smaller firms. Originality/value This paper adds to the literature by providing important information regarding the suitability of adoption of voluntary governance mechanisms in Australia.

scholarly journals Should dehydration in older people be a marker of lack of quality in long term care provision?

2014 ◽  
Vol 15 (4) ◽  
pp. 232-236 ◽  
Author(s):  
Lee Hooper ◽  
Diane K Bunn
Keyword(s):  
Older People ◽  
Residential Care ◽  
Design Methodology ◽  
Long Term Care ◽  
Care Provision ◽  
Good Care ◽  
Term Care ◽  
Content Type

Purpose – The purpose of this paper is to consider whether dehydration in older people should be used as a marker of lack of quality in long-term care provision. Design/methodology/approach – The piece examines the assumed relationship between dehydration and the quality of care, and then considers the factors that can lead to dehydration in older people. Findings – Even with the best care, older people, in the absence of a sense of thirst, and for fear of urinary accidents, difficulties getting to the toilet or choking, may choose to drink less than would be ideal for their health. While good care supports older people to minimise these problems, it also respects older people making their own decisions around when, what and how much to drink. It appears that dehydration may sometimes be a sign of good care, as well as arising from poor care. Social implications – Residential care homes should not be stigmatised on the basis of their residents being dehydrated, but rather helped to explore whether they are achieving an appropriate balance between care and quality of life for their residents. Originality/value – This discussion may be of use to those living in, working in, managing or assessing residential care.

How lifecycle influences capabilities and their development

2015 ◽  
Vol 8 (1) ◽  
pp. 133-153 ◽  
Author(s):  
Mait Rungi
Keyword(s):  
Design Methodology ◽  
Specific Information ◽  
Small Country ◽  
Capability Development ◽  
Content Type ◽  
Abstract Level ◽  
The Right ◽  
Practical Implications

Purpose – Capabilities are a widely researched subject, but capability development techniques have received considerably less attention. Capability development is a long-term activity, where both how to choose “the right capabilities” and how to develop “the capabilities right” are important. The purpose of this paper is to approach to pick up the most widespread capabilities and development techniques in project-companies, and observes their shift of focus when moving from one lifecycle stage to another. Design/methodology/approach – A long-scale survey was chosen and carried out in EU member state Estonia in 2011, resulting with close to a couple of 100 responses. Findings – The quality of most business capabilities decreases in reaching the decline stage of the lifecycle, but project-related capabilities are improving. The same cannot be concluded for project-led capability development techniques, as they decline, and the quality of traditional and business-led capability techniques are improving. The use of development techniques changes less throughout lifecycle stages than capabilities do – it is not so important how companies develop capabilities, capabilities themselves matter. Research limitations/implications – Survey was performed in a small country which limits the generalizability to larger countries. Practical implications – Capabilities and their development techniques are very much practice-oriented, especially development techniques. However, research indicates that it is more important to choose the right capabilities and worry less about their development-specific issues. Originality/value – Results provide lifecycle-specific information which capabilities and their development techniques prevail at what stage of companies’ lifecycle. Thus far, learning, as the most important technique, has received the most attention, other techniques less – this research gives further information about a wider array of the techniques. Furthermore, the prior research was concentrated on a few specific capabilities or capabilities at an abstract level, this research focuses on a comprehensive set of capabilities.

Expatriate's engagement and burnout: the role of purpose-oriented leadership and cultural intelligence

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Flavia Cavazotte ◽  
Sylvia Freitas Mello ◽  
Lucia B. Oliveira
Keyword(s):  
Structural Equation ◽  
Design Methodology ◽  
Cultural Intelligence ◽  
Multinational Companies ◽  
Equation Modeling ◽  
Content Type ◽  
The Uk ◽  
The Impact

PurposeThis study analyzes the impact of purpose-oriented leadership and leader cultural intelligence on engagement and burnout among expatriates undertaking long-term corporate assignments, grounded on social psychology frameworks on interpersonal bias.Design/methodology/approachA survey was conducted with corporate expatriates from 21 different nationalities, who work for large multinational companies and were on assignment in 23 distinct countries – including Brazil, China, Japan and the UK Partial Least Squares Structural Equation Modeling was used to evaluate the proposed hypotheses.FindingsResults indicate that leader cultural intelligence is associated with lower burnout and higher engagement among expatriates, and that purpose-oriented leadership is associated with higher expatriate engagement but not with lower burnout.Originality/valueThis research contributes to the field by highlighting specific leader attributes that can foster successful expatriation: cultural intelligence and purpose-oriented leadership. The study adds to knowledge on leader–follower relationships amid national and cultural diversity by pointing to actionable leader qualities that can foster expatriate engagement and prevent his/her burnout.

Institutional investor behavioral biases: syntheses of theory and evidence

2017 ◽  
Vol 40 (5) ◽  
pp. 578-603 ◽  
Author(s):  
Zamri Ahmad ◽  
Haslindar Ibrahim ◽  
Jasman Tuyon
Keyword(s):  
Behavioral Finance ◽  
Institutional Investors ◽  
Design Methodology ◽  
Institutional Investor ◽  
Heuristics And Biases ◽  
Theoretical Underpinning ◽  
Content Type ◽  
Behavioral Biases ◽  
Irrational Behavior ◽  
Behavioral Heuristics

Purpose This paper aims to review the theory and empirical evidence of institutional investor behavioral biases in the lenses of behavioral finance paradigm. It surveys the research specifically focusing on behavioral biases among institutional investors in investment management activities worldwide. Design/methodology/approach A literature survey is done to gather and synthesize evidence on behavioral biases of institutional investors. Findings The survey and analysis reveal the following findings. First, the theoretical underpinning of investors’ irrational behavior has been neglected in behavioral finance research. Second, the behavioral heuristics and biases are dynamic and complex. Third, understanding behavioral biases’ origin, causes and effects requires interdisciplinary perspectives from the fields of psychology, sociology and biology. Originality/value The analysis and alternative perspectives drawn in this paper provide new insights into the field of behavioral finance and aims to suggest researchers, practitioners and regulators on the next course of actions.

scholarly journals Political connections and earnings quality

2016 ◽  
Vol 24 (4) ◽  
pp. 339-356 ◽  
Author(s):  
Iman Harymawan ◽  
John Nowland
Keyword(s):  
Design Methodology ◽  
Stock Exchange ◽  
Earnings Quality ◽  
Political Stability ◽  
Political Connections ◽  
Content Type ◽  
Government Effectiveness ◽  
Different Dimensions ◽  
Market Pressures

Purpose The purpose of this study is to investigate how the earnings quality of politically connected firms is affected by changes in political stability and government effectiveness in a developing country. Design/methodology/approach This study uses a sample of 2,073 firm-year observations from 349 firms listed on the Indonesian Stock Exchange from 2003 to 2012 to examine how political stability and government effectiveness affect the earnings quality of politically connected firms, relative to non-politically connected firms. A two-stage model is used to address self-selection issues in the choice of firms to establish political connections. Findings This study finds that increased government effectiveness reduces the benefits of political connections, requiring politically connected firms to be more responsive to market pressures and resulting in higher earnings quality. However, increased political stability enhances the certainty of benefits from political connections, reducing the need for politically connected firms to respond to market pressures and resulting in lower earnings quality. Research limitations/implications For policymakers, these results indicate that different dimensions of political and economic development can affect the incentives of firms with political connections in different ways. Originality/value This study finds that the earnings quality of politically connected firms increases as government effectiveness improves, but it decreases as the political environment becomes more stable.

Learning and practicing police craft

2016 ◽  
Vol 5 (3) ◽  
pp. 276-286 ◽  
Author(s):  
Mike Rowe ◽  
Elizabeth Turner ◽  
Geoff Pearson
Keyword(s):  
Design Methodology ◽  
Content Type ◽  
The Core ◽  
Policy Debates ◽  
Changing Patterns ◽  
Craft Skills ◽  
The Uk ◽  
Degree Level ◽  
The Way

Purpose The authors consider current policy debates in the UK about the professionalisation of the police to respond to changing patterns of crime and, specifically, the suggestion that officers be educated to degree level. Drawing on the ethnographic evidence, the purpose of this paper is to focus attention on how officers learn, and continue to develop the applied, that is the craft aspects of the work of uniformed constables. Design/methodology/approach The authors draw on a long-term ethnographic project observing officers during the course of their duties. The focus is on the use of discretion and of particular powers. But in the course of the research, the authors also observe the way officers behave and the way they talk about their job. Findings The authors suggest that, while there may be a role for degree qualifications, attention needs to be paid to the practices the authors observe, practices that have long been the core craft skills of uniformed officers. Originality/value The authors suggest that, despite the emergence of cybercrime and other new forms of crime/threat, the evidence suggests that much has not. Not least, crime is not the only focus of police work.

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