Ownership dynamics around IFRS adoption: emerging markets context

2018 ◽  
Vol 8 (1) ◽  
pp. 2-28 ◽  
Author(s):  
Manel Hessayri ◽  
Malek Saihi
Keyword(s):  
Emerging Markets ◽  
Capital Market ◽  
Methodological Approach ◽  
Supply And Demand ◽  
Empirical Work ◽  
Policy Makers ◽  
Content Type ◽  
Ifrs Adoption ◽  
International Investors ◽  
Market Benefits

Purpose The purpose of this paper is to analyze the firm’s capital market benefits in a high-quality information setting. More specifically, the authors address the question of whether the commonly documented IFRS benefits are capable of influencing inducing shareholders to increase their equity investment in adopting firms. Design/methodology/approach This study is performed on publicly listed firms in three emerging countries, namely, Morocco, South Africa and Turkey. The design of the ownership database allows a panel analysis for the years 2001 through 2011. The trend approach is suitable to account for concurrent effects that are unrelated to financial reporting while controlling for time-lasting behavior of investors. Overall, a minimum of four-year periods before and after the IFRS adoption date are warranted. Findings Overall, the findings support evidence of increases in equity holdings following a firm’s IFRS adoption. More specifically, institutional investors and institutional blockholders (both domestic and foreign) invest more heavily in the stocks of the firms that have committed to IFRS. By contrast, the authors fail to report evidence for ownership by blockholders and controlling shareholders. Practical implications The current empirical work should be of value to international investors, policy makers and market authorities. As for international investors facing reduced information disadvantage and comparable financial information across worldwide markets, they will find it easier to select and invest in value-creating stocks. This study may be useful for policy makers in acquiring a clear view of advantages, challenges and relevance of IFRS adoption to emerging markets. In particular, this study contributes to an understanding of potential capital market consequences of IFRS adoption. Furthermore, market authorities should be aware of the importance of institutional framework to enhance IFRS implementation and usage. Originality/value This work contributes to the ongoing empirical research on the intended capital market benefits of IFRS. The authors provide deeper insight into shareholdings changes of a number of key investors in a context where supply and demand of information are stained with asymmetry and mostly, influenced by differences in accounting practices. A major contribution of this study is the use of a methodological approach that outperforms commonly used approaches in the way how it considers concurrent events (compared to the shift specification) and time-lasting investor behavior (compared to the difference-in-differences analysis).

Measuring the service gaps in the roles of quantity surveyors in the emerging market

2016 ◽  
Vol 23 (5) ◽  
pp. 1111-1131 ◽  
Author(s):  
AbdulLateef Olanrewaju
Keyword(s):  
Emerging Markets ◽  
Construction Industry ◽  
Design Methodology ◽  
Emerging Market ◽  
Supply And Demand ◽  
The Other ◽  
Primary Data ◽  
Content Type ◽  
Practical Implications ◽  
Survey Questionnaires

Purpose – The opportunities that the emerging markets present to the players in the construction industry means that the players need to expand on the scope and size of their responsibilities and duties to the stakeholders. Each of the professionals now demands more specialised and sophisticated services from one another. The other players in the construction industry now require more emerging responsibilities and duties from the quantity surveyors. The purpose of this paper is to examine the roles that “modern” quantity surveyors play by measuring the gaps that exist in the services that the quantity surveyors provide. Design/methodology/approach – Primary data are collected through survey questionnaires. In total, 23 roles played by modern quantity surveyors are identified and addressed to the respondents to rank the rate at which quantity surveyors provide these “emerging” services. The collected data were analysed statistically. Findings – The results of the findings led to the conclusion that the quantity surveyors were not meeting the expectations of other players. Therefore, for competitiveness, quantity surveyors need to better meet demand expectations. Research limitations/implications – This findings of this research are constrained to the services or functions that the quantity provide in the construction industry. Practical implications – This knowledge is valuable to academic institutions that offer quantity surveying programmes, to practicing quantity surveyors, governments, and other players in the construction industry. It will allow quantity surveyors to reconcile supply and demand expectations. Originality/value – There is no known conclusive empirical study on services offered by quantity surveyors in any emerging markets. Therefore, the findings offer a fresh understanding on the services of quantity surveyors not only in Nigeria but elsewhere. While some of the services are common, others are peculiar to emerging markets.

scholarly journals Women’s entrepreneurship policy: a 13 nation cross-country comparison

2017 ◽  
Vol 9 (3) ◽  
pp. 206-228 ◽  
Author(s):  
Colette Henry ◽  
Barbara Orser ◽  
Susan Coleman ◽  
Lene Foss
Keyword(s):  
Policy Development ◽  
Methodological Approach ◽  
Future Research ◽  
Entrepreneurship Policy ◽  
Policy Makers ◽  
Content Type ◽  
Policy Practice ◽  
Women’S Entrepreneurship ◽  
The Status ◽  
Women's Entrepreneurship

Purpose Government attention to women’s entrepreneurship has increased in the past two decades; however, there are few cross-cultural studies to inform policy development. This paper aims to draw on gender and institutional theory to report on the status of female-focused small and medium-sized enterprises/entrepreneurship policies and to ask how – and to what extent – do women’s entrepreneurship policies differ among countries? Design/methodology/approach A common methodological approach is used to identify gaps in the policy-practice nexus. Findings The study highlights countries where policy is weak but practice is strong, and vice versa. Research limitations/implications The study’s data were restricted to policy documents and observations of practices and initiatives on the ground. Practical implications The findings have implications for policy makers in respect of support for women’s entrepreneurship. Recommendations for future research are advanced. Originality/value The paper contributes to extant knowledge and understanding about entrepreneurship policy, specifically in relation to women’s entrepreneurship. It is also one of the few studies to use a common methodological approach to explore and compare women’s entrepreneurship policies in 13 countries.

scholarly journals Corporate governance reforms and shareholders’ confidence in emerging markets

2017 ◽  
Vol 14 (1) ◽  
pp. 60-74 ◽  
Author(s):  
Haseeb-Ur- Rahman ◽  
Mohd. Yussoff Ibrahim ◽  
Ayoib Che Ahmad
Keyword(s):  
Corporate Governance ◽  
Emerging Markets ◽  
Design Methodology ◽  
Market Price ◽  
Descriptive Statistics ◽  
Policy Makers ◽  
Content Type ◽  
Regression Estimators ◽  
Corporate Governance Reforms ◽  
Governance Reforms

Purpose The purpose of this paper is to investigate the relation of corporate governance (CG) attributes, such as separate leadership (SL) structure, independent chair (IC) of the board, and the proportion of independent directors on the board (Bind) recommended by the new Malaysian Code on Corporate Governance (2012), with firms’ market performance measured by share market price. Design/methodology/approach The paper uses a randomly selected sample of 150 non-financial Malaysian listed companies. To find the distinct impact of the code, the paper explicitly divides the sample into two-year pre-context (2010-2011) and two-year post-context (2013-2014) of the code. Besides descriptive statistics, the study also employs correlation and multiple regression estimators. Findings By comparing the pre-context and post-context of the code, the study found that SL and Bind have a significant positive relation while IC of the board has a significant negative relation with share market price after enactment of the code. Research limitations/implications The paper has a limitation of using only two years of data due to its non-availability particularly after enactment of the code. The findings show that the new code slightly improved compliance to the CG attributes investigated. Based on findings, the study also recommends further improvement in compliance to CG codes and other voluntary regulations in Malaysia. Originality/value Besides contributing to the limited and incongruent literature in pre-context and post-context of CG regulations, the paper also provides important insights for regulators and policy makers of the emerging markets like Malaysia.

Meeting the demand for statisticians in UAE: challenges and experiences

2014 ◽  
Vol 30 (1) ◽  
pp. 45-52
Author(s):  
Rafiq Hamed Hijazi
Keyword(s):  
United Arab Emirates ◽  
Design Methodology ◽  
Supply And Demand ◽  
Developed Countries ◽  
Government Agencies ◽  
Policy Makers ◽  
Content Type ◽  
The Past ◽  
And Training ◽  
Training Institute

Purpose – The purpose of this paper is to explore the supply of and perceived demand for statisticians in the United Arab Emirates (UAE) over the past decade. Design/methodology/approach – An exploratory study is conducted to examine the institutional and individual supply of statisticians in the UAE in relation to the perceived demand for such services. Supply data for the study was derived from UAE University, the Statistical Training Center and the Statistical Training Institute on statistics graduates and trainees. Findings – It was found that the supply of statisticians and trainees from UAE universities and training bodies is falling short of meeting the actual needs of statisticians in UAE. As the demand continues for such services, concerted efforts are needed to identify and implement workable approaches to reduce the gap between supply and demand. This includes stronger collaboration between government agencies and academic institutions to create a genuine partnership utilizing the experience of developed countries in this field. Originality/value – This study is the first of its kind in the UAE aimed at exploring the arising need for statistical services in the UAE. Recommendations from the study are intended to guide educational policy makers in addressing identified shortages of skilled Emirati statisticians as main contributors in supporting the knowledge-driven economy vision of UAE government.

How marketing balances the battle between premium and regular products? Brand sales dynamics in an emerging market

2020 ◽  
Vol 15 (6) ◽  
pp. 1265-1286 ◽  
Author(s):  
Marcos Inácio Severo de Almeida ◽  
Rafael Barreiros Porto ◽  
Ricardo Limongi França Coelho
Keyword(s):  
Time Series ◽  
Emerging Markets ◽  
Emerging Market ◽  
Methodological Approach ◽  
Two Dimensions ◽  
Multinomial Model ◽  
Content Type ◽  
Energy Company ◽  
Sales Behavior ◽  
Short Time

PurposeEvolution and stationarity are key time series empirical concepts which need theoretical assessment by extant research. This study presents a model to explain brand sales dynamics in emerging markets using two dimensions: sales behavior in time (stationary or evolution) and final position (negative, neutral or positive).Design/methodology/approachA three-step methodological approach was performed. First, individual brand sales series were classified (stationarity or evolution) after unit root tests. These series were then regressed against a time variable. These two steps enabled a qualitative classification of six proposed positions, ranging from the worst to the best scenario for marketing managers. A final multinomial model identified the marketing effect to these positions.FindingsDescriptive statistics reveal an insignificant prevalence of stationary sales series and a small number of positive brand sales series (ascending or promising). The multinomial model shows that price is negatively associated to positive brand sales positions, the important effect of service strategies and how product decisions can lead to an avoidance of negative positions.Research limitations/implicationsThe model is limited to short time series of a unique transactional dataset from a multinational energy company based in Brazil.Practical implicationsThe research provides a rational empirical framework to managers involved with decisions regarding brand sales dynamics in emerging markets.Originality/valueThe approach advance into the development of models to uncover conditions for market evolution and stationarity in a context marked by the shortage of data.

Moderating effect of IFRS adoption on FDI and conditional accounting conservatism in South Asia

2019 ◽  
Vol 9 (1) ◽  
pp. 51-74 ◽  
Author(s):  
Isuru Manawadu ◽  
Anna Che Azmi ◽  
Aslam Mohamed
Keyword(s):  
South Asia ◽  
Method Of Moments ◽  
Generalized Method Of Moments ◽  
Moderating Effect ◽  
Accounting Conservatism ◽  
Policy Makers ◽  
Content Type ◽  
Ifrs Adoption ◽  
New Evidence ◽  
The Relationship

PurposeThe purpose of this paper is to examine the moderating effect of IFRS adoption on the relationship between foreign direct investment (FDI) and conditional accounting conservatism in South Asia.Design/methodology/approachThis study uses the model developed by Basu (1997) and Ball and Shivakumar (2005) to examine the moderating effect of IFRS adoption on the relationship between FDI and conditional accounting conservatism. Data are tested by running panel generalized method of moments–2SLS estimation for the period of 2006–2015.FindingsA moderating effect of IFRS adoption was found on the relationship between FDI and conditional accounting conservatism in South Asia.Research limitations/implicationsThis study contributes to the literature by adding new evidence on the moderating effect of IFRS adoption on the relationship between FDI and conditional accounting conservatism.Originality/valueThe relationship between FDI and conditional accounting conservatism was moderated by IFRS adoption in South Asia. This finding provides new evidence to the literature as well as for the policy makers to consider on IFRS adoption.

Effects on Comparability and Capital Market Benefits of Voluntary IFRS Adoption

2018 ◽  
Vol 3 (1) ◽  
pp. 1-22 ◽  
Author(s):  
Mary E. Barth ◽  
Wayne R. Landsman ◽  
Mark H. Lang ◽  
Christopher D. Williams
Keyword(s):  
Capital Market ◽  
Ifrs Adoption ◽  
Market Benefits

What influences the willingness of Vietnamese accountants to adopt International Financial Reporting Standards (IFRS) by 2025?

2018 ◽  
Vol 26 (2) ◽  
pp. 225-247 ◽  
Author(s):  
Duc Phan ◽  
Mahesh Joshi ◽  
Bruno Mascitelli
Keyword(s):  
Financial Reporting ◽  
Design Methodology ◽  
Theory And Practice ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Policy Makers ◽  
Content Type ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
Willingness To Adopt

PurposeThe purpose of this paper is to examine the effects of perceived implications of International Financial Reporting Standards (IFRS) adoption on the willingness to adopt IFRS.Design/methodology/approachThe study analysed the causal relationships between perceptions and the willingness of the accountants to adopt IFRS.FindingsThe findings revealed that perceived benefits drove the willingness to adopt IFRS whereas the perceived disadvantages and challenges diminished the willingness. Knowledge of IFRS enhanced the willingness towards IFRS adoption. Also, legitimacy desire enhanced the association between the perceived implications and the willingness to adopt IFRS.Originality/valueThe study contributes significantly to theory and practice as Vietnamese policy makers recently announced their strategic planning to full IFRS adoption by 2025.

scholarly journals Retail services efficiency: impact of country-specific factors

2019 ◽  
Vol 47 (8) ◽  
pp. 774-792 ◽  
Author(s):  
Ignacio Cruz Roche ◽  
Jaime Romero ◽  
Ricardo Sellers-Rubio
Keyword(s):  
Foreign Trade ◽  
Economic Freedom ◽  
Supply And Demand ◽  
External Factors ◽  
International Expansion ◽  
Policy Makers ◽  
Content Type ◽  
Managerial Decisions ◽  
Retail Services ◽  
The Impact

Purpose Efficiency in retailing companies is mandatory for survival. Literature acknowledges external factors impact on efficiency. However, this impact remains understudied, as previous research typically focuses on managerial decisions. The purpose of this paper is to partially fill this gap by exploring the influence of external factors on retailers’ efficiency. Design/methodology/approach This research simultaneously measures retail efficiency and evaluates the impact of six potential drivers by applying bootstrap techniques in a sample of 25 European Union countries during the period 2006–2015. Findings The efficiency of the retail system in the countries under analysis evolves at different paces during the observation period. This evolution can be explained by country population density, average store size within countries, foreign trade ratio, concentration, economic freedom and percentage of urban population. Research limitations/implications This research does not account for supply and demand restrictions that might affect retailers’ efficiency, as well as other variables that influence their production process. Practical implications This paper might help retail managers to comprehend and manage their companies’ efficiency. Furthermore, it provides clues to evaluate market attractiveness in retailers’ international expansion strategies. Social implications Policy makers can facilitate retailers’ efficiency through regulations on external variables that influence retailers’ performance, namely economic freedom and foreign trade ratio. Originality/value For the first time, this study analyses the impact of external factors on retail services efficiency across countries.

scholarly journals Sustainable food security futures

2016 ◽  
Vol 29 (2) ◽  
pp. 171-178 ◽  
Author(s):  
Zahir Irani ◽  
Amir M Sharif
Keyword(s):  
Supply Chain ◽  
Food Security ◽  
Supply Chains ◽  
Food Supply ◽  
Empirical Work ◽  
Food Supply Chain ◽  
Policy Makers ◽  
Content Type ◽  
Food Supply Chains ◽  
Enterprise Level

Purpose – The purpose of this paper is to signpost the genesis of food security and associated factors such that organisations, enterprises, policy makers and interested stakeholders can seek to explore and understand this important societal issue. The challenges that food security poses are eclectic in nature and cut through country, society, organisation and individual boundaries. Only through identifying these factors – hence identifying underlying factors of food waste and usage of information within food supply chains to untangle them – can we adopt enterprise interventions in order to initiate and mitigate food security risk. Design/methodology/approach – As a viewpoint piece, there is no empirical work to report in this paper. An exploratory review of the literature has allowed for the extraction of food security concerns that need the attention of stakeholders across the enterprise to ensure robust food supply chains can be are created, maintained and sustained through a better understanding and usage of information, knowledge and data. Findings – This paper articulates six constructs that underpin the challenges of establishing food security. It is suggested that information relating to factors may support decision-makers within communities, organisations and enterprises to better understand these factors that then contribute towards enhanced food security. Relevant strategies or policies can then emerge and be developed such that strategic as well as operational interventions can be prioritised across national, regional or industry level. Underpinning the above, the waste within and across the food supply chain contributes to the six factors, also highlighting where additional focus may need to be applied to sustain food supply chains. Research limitations/implications – This paper is a position paper that does not offer factual insight but rather highlights a direction of thought that others can consider exploring as part of wider research agendas in the topical area where enterprise, organisational, and information-based contributions may support the development of strategy-led food security policy. Practical implications – This paper provides reassuring insights that will help decision and policy makers assemble their thoughts when it comes to prioritising their communications and interventions amongst organisational/enterprise-level stakeholder groups involved in food security and food supply chain contexts. Social implications – This paper has highlighted the need for more research around the human and organisational factors that are identified as both underpinning the need for food security and, as drivers of waste throughout the food supply chain. Indeed, there is further work needed to highlight the inter-relationships that exist and, which then feed into resulting interventions. Originality/value – To raise the importance of food security amongst differing stakeholder community groups at the organisational and enterprise level.

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