Integrated reporting disclosure alignment levels in annual reports by listed firms in Vietnam and influencing factors

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Huu Cuong Nguyen ◽  
Phan Minh Hoa Nguyen ◽  
Bich Hiep Tran ◽  
Thi Thien Nga Nguyen ◽  
Le Thanh Thuy Hoang ◽  
...  
Keyword(s):  
Influencing Factors ◽  
Audit Quality ◽  
Least Square ◽  
Annual Reports ◽  
Government Ownership ◽  
Integrated Reporting ◽  
Content Type ◽  
Listed Firms ◽  
Factors Influencing ◽  
Ordinary Least Square Regression

Purpose This paper aims to examine the levels of integrated reporting disclosure alignment in annual reports by listed firms in Vietnam and the factors influencing these disclosure levels. Design/methodology/approach Drawing on a sample of 200 listed firms in Vietnam in 2017, the authors constructed a disclosure index based on the content of the International Integrated Reporting Committee (IIRC) Framework. Using this index, the study measures the extent to which Vietnamese listed firms’ annual reports include the content elements required by the integrated reporting (IR) Framework. The study performs ordinary least square regression to investigate the influencing factors. Findings The study documents that, on average, Vietnamese listed firms disclose about 43% of the information required by the IIRC Framework. The disclosure levels are positively associated with manufacturing firms, board independence, foreign ownership, government ownership, audit quality and firm size. Originality/value Integrated reports have been widely adopted in many countries, but it is still a new issue in Vietnam. This is the first paper providing some insights into the inclusion of the content elements required by the IR Framework by listed firms in Vietnam. It also contributes to the disclosure literature by providing empirical evidence on the factors influencing these disclosure levels. Deriving from the findings, the authors offer recommendations for policymakers on the issue of regulating and implementing IR in Vietnam.

Do corporate attributes drive integrated reporting amongst listed companies in Nigeria?

2021 ◽  
Vol 14 (1) ◽  
Author(s):  
Michael O. Adelowotan ◽  
Ini E. Udofia
Keyword(s):  
Stock Exchange ◽  
Least Square ◽  
Annual Reports ◽  
Primary Data ◽  
Integrated Reporting ◽  
Listed Firms ◽  
Reporting Framework ◽  
Primary Data Analysis ◽  
High Level ◽  
The Impact

Research purpose: The purpose of this paper was to investigate the association between corporate attributes and the implementation of Integrated Reporting (IR) among quoted companies on the Nigerian Stock Exchange which currently operates a voluntary based disclosure environment.Design and method: Using content analysis to derive the disclosure scores for integrated reporting and corporate attributes, the authors investigated the impact of corporate attributes on the implementation of the integrated reporting of a sample of 90 listed firms. The annual reports covering 2013–2017 were analysed using the disclosure methodologies developed by prior researchers in IR. The hypotheses were tested using panel least square regressions.Main findings: The authors found that corporate attributes have a statistically positive and significant impact on the implementation of integrated reporting framework, that share ownership structure and firm age have an insignificant influence over corporate implementation of the integrated reporting framework. The research findings extend integrated reporting research in Nigeria from mere primary data analysis to quantitative data analysis.Practical implications: The empirical findings provide regulators with evidence on the current level of integrated reporting disclosures and the influence of corporate attributes in driving integrated reporting.Originality and value: The study makes significant contributions to integrated reporting literature from a developing country’s perspective. It also provided empirical evidence of a high level of disclosure compliance with the IR framework among quoted companies in Nigeria.

scholarly journals The effect of political connections on firm performance: evidence from Egypt

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Aref M. Eissa ◽  
Yasser Eliwa
Keyword(s):  
Pearson Correlation ◽  
Market Value ◽  
Least Square ◽  
Political Connections ◽  
Government Ownership ◽  
Potential Conflict ◽  
Content Type ◽  
Listed Firms ◽  
Ordinary Least Square ◽  
Positive Effect

PurposeThis paper examines the effect of political connections (PCs) on firms' profitability and market value in the Egyptian market after the uprising of 2013.Design/methodology/approachAn empirical study is conducted based on 284 firm-year observations for non-financial listed firms on the EGX100 during the period of 2014–2017. To test the study’s hypothesis, two independent sample t-test, Pearson correlation analysis and ordinary least square (OLS) regressions are conducted.FindingsThe results suggest that PCs are common across all industries in Egypt, the PCs through top officers do not improve firm's profitability; however, it has a positive effect on firms' market value. Further, PCs through business owners improve neither profitability nor the market value. Finally, the results suggest that PCs through government ownership have a positive effect on both firms' profitability and market value.Practical implicationsThe study’s finding encourages policymakers and regulators in emerging markets, e.g. Egypt, to develop stricter laws, policies and regulatory initiatives to restrain the potential conflict of interest in the politically connected firms.Originality/valueTo the best of the authors' knowledge, this study is one of the first to examine the relationship between PCs and both firms’ profitability and market value in Egypt.

The role of audit quality in preventing firm misreporting: empirical evidence from China

2019 ◽  
Vol 16 (1) ◽  
pp. 83-100 ◽  
Author(s):  
Loan Quynh Thi Nguyen ◽  
Duong Thuy Le ◽  
Hiep Ngoc Luu ◽  
Anh Huu Nguyen ◽  
Thinh Gia Hoang
Keyword(s):  
Audit Quality ◽  
Annual Reports ◽  
External Audit ◽  
Data Set ◽  
Content Type ◽  
Listed Firms ◽  
Empirical Results ◽  
Tangible Assets ◽  
Retained Earnings

Purpose The purpose of this paper is to explore the role of external audit quality in reducing firm misreporting practices. Design/methodology/approach Data are gathered from a number of sources including the Osiris database and firms’ annual reports to construct a comprehensive data set containing financial and non-financial information of over 3,100 publicly listed firms in China during the period 2009–2017. A number of rigorous empirical specifications are utilized with the use of probit, logit and conditional logit regressions, as well as panel pooled OLS and fixed-effect estimators. The IV-2SLS, 2-step system GMM and difference-in-differences techniques are also employed to deal with the potential endogeneity bias to ensure the robustness of the empirical results. Findings The empirical results reveal that larger firms and firms having more tangible assets and greater retained earnings are more likely to employ a better-quality external auditor. Subsequently, higher audit quality leads to a deterioration in corporate misreporting. However, these results are not homogenous across firms. While we document similar findings in the case of non-state-owned firms, state-owned enterprises (SOEs) appear to have less tendency to hire a higher-quality auditor, and higher-quality auditors in turn do not play a significant role in reducing misreporting practices in SOEs. Originality/value This paper contributes to a better understanding of the mechanism to mitigate corporate misreporting practices. It is one of the few to empirically investigate auditor selections and the association between external audit quality and corporate misreporting practices in China.

scholarly journals The effect of auditor type on audit quality in emerging markets: evidence from Egypt

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mohamed M. El-Dyasty ◽  
Ahmed A. Elamer
Keyword(s):  
Audit Quality ◽  
Least Square ◽  
Advanced Technology ◽  
Content Type ◽  
Auditor Choice ◽  
Big 4 ◽  
Audit Firms ◽  
Alternative Measures ◽  
Ordinary Least Square Regression ◽  
The Impact

Purpose Although a number of studies suggest that big audit firms provide higher audit quality in strict legal environments, empirical evidence remains inconclusive. As little is known about the effect of auditor type on audit quality in less strictly legal environments, this study aims to investigate the impact of auditor type on audit quality in the Egyptian market. Design/methodology/approach Data of Egyptian-listed companies during the period 2011–2018 are used. To examine the impact of auditor type on audit quality, ordinary least square regression and robust standard errors clustered at year and industry level are used. This study uses discretionary accruals as a proxy for audit quality. Several additional analyzes are conducted to assess the robustness of the main results, including alternative measures of audit quality and auditor type. Findings The results show that audit firms tend to provide higher audit quality when they are affiliated with a foreign audit firm. However, Big 4 auditors do not provide higher audit quality compare to their counterparts. Additionally, the governmental agency, accountability state authority, that monopolize audit function in state-owned companies do not appear to be associated with higher audit quality. Finally, local audit firms have a negative association with audit quality. This may be their strategy to secure future clients that seek low-quality audits. Research limitations/implications This study suggests that affiliation with foreign audit firms will help the Egyptian firms to develop their abilities by using advanced technology and techniques and transfer rare expertize to the Egyptian auditors. This study also shows that the strategy adopted by many Egyptian audit firms to affiliate with foreign auditors reflects the desire of these firms to be included in one tier alongside Big 4 audit firms to increase their market share under a claim of providing a higher audit quality. Originality/value This study adds to the rare but growing body of literature by investigating how auditor type affects audit quality in the context of less strictly legal environments. The results are important, as investors, standards-setters and regulators have growing concerns over audit quality since the Enron scandal. The findings suggest that audit quality depends on auditor type. These findings have important implications for investors, standards-setters and auditors interested in auditor oversight, audit quality and auditor choice.

Determinants of quality corporate governance in Sub-Saharan Africa

2014 ◽  
Vol 29 (5) ◽  
pp. 455-485 ◽  
Author(s):  
Nelson Waweru
Keyword(s):  
Corporate Governance ◽  
Audit Quality ◽  
Developing Economies ◽  
Well Being ◽  
Sub Saharan Africa ◽  
Annual Reports ◽  
Content Type ◽  
Factors Influencing ◽  
Sub Saharan

Purpose – This study aims to examine the factors influencing the quality of corporate governance in South Africa (SA) and Kenya. Firm-level variables including performance, firm size, leverage, investment opportunities and audit quality were identified from the corporate governance literature. Design/methodology/approach – The study used panel data of 247-firm years obtained from the annual reports of the 50 largest companies listed on the Johannesburg Securities Exchange (JSE) of SA and 234-firm years obtained from the 49 companies listed on the Nairobi Stock Exchange (NSE). The author then used content analysis to extract the study variables from the annual reports and multiple regression analysis to determine their relationship. Findings – The study found audit quality and firm performance as the main factors influencing the quality of corporate governance in Kenya and SA. There are also differences in the quality of corporate governance between the two countries. Research limitations/implications – First the study sample consists of the 50 largest firms listed in the JSE of SA and another 49 companies listed in the NSE of Kenya. Since these are large companies, the results may not be generalized to other smaller firms operating in both SA and Kenya. Second, this study is constrained to SA and Kenya. Firms in other developing countries may differ from their SA and Kenyan counterparts. Originality/value – The results of this study are important to the King Committee and other corporate governance regulators in Sub-Saharan Africa, in their effort to improve corporate governance practices, minimize corporate failure and protect the well-being of the minority shareholders. Furthermore, the study contributes to the understanding of the variables affecting the quality of corporate governance in developing economies of Africa.

Voluntary disclosure and corporate governance: empirical evidence from Kuwait

2017 ◽  
Vol 59 (2) ◽  
pp. 217-236 ◽  
Author(s):  
Mishari M. Alfraih ◽  
Abdullah M. Almutawa
Keyword(s):  
Corporate Governance ◽  
Voluntary Disclosure ◽  
Audit Committee ◽  
Panel Data Analysis ◽  
Annual Reports ◽  
Government Ownership ◽  
Governance Mechanisms ◽  
Content Type ◽  
Listed Firms ◽  
Corporate Governance Mechanisms

Purpose The purpose of this paper is to assess and analyse the level of voluntary disclosure practices in the annual reports of Kuwait Stock Exchange (KSE) listed firms and explore the association between corporate governance mechanisms and voluntary disclosure practices. Design/methodology/approach Panel data analysis was undertaken over a period from 2005-2008 with an aim to examine the influence of corporate governance mechanisms on voluntary disclosures made by 52 listed firms in their four years of annual reports. An unweighted voluntary disclosure index has been used for hand-collecting data from annual reports. Findings The findings show that the mean voluntary disclosure level over the four years is 23 per cent. Four out of eight corporate governance mechanisms examined found to be significantly associated with the level of voluntary disclosure, three negatively, one positively. Cross directorship, board size and role duality are negatively related to voluntary disclosure, while government ownership is positively related to voluntary disclosure. In contrast, the proportion of non-executive directors, family members on the board, the presence of an audit committee and the presence of the ruling family on the board have an insignificant influencer on voluntary disclosure practices. Practical implications The study provides an assessment of KSE-listed firm voluntary disclosure practices and its determents and highlights that that corporate governance attributes affect the voluntary disclosure practices of KSE-listed firms. Originality/value The findings of this study contribute to the arguments concerning the role of corporate governance mechanisms in improving the level of disclosure and information transparency.

Do the calendar anomalies still exist? Evidence from Indian currency market

2016 ◽  
Vol 42 (2) ◽  
pp. 136-150 ◽  
Author(s):  
Satish Kumar ◽  
Rajesh Pathak
Keyword(s):  
Least Square ◽  
January Effect ◽  
Currency Markets ◽  
Content Type ◽  
Currency Market ◽  
Before And After ◽  
Calendar Anomalies ◽  
Ordinary Least Square Regression ◽  
The 2008 Financial Crisis ◽  
Using Data

Purpose – The purpose of this paper is to examine the presence of the day-of-the-week (DOW) and January effect in the Indian currency market for selected currency pairs; USD-(Indian rupee) INR, EUR-INR, GBP-INR and JPY-INR, from January, 1999 to December, 2014. Design/methodology/approach – Ordinary least square regression analysis is used to examine the presence of DOW and January effect to test the efficiency of the Indian currency market. The sample period is later divided into two sub-periods, that is, pre- and post-2008 to capture the behavior of returns before and after the 2008 financial crisis. Further, the authors also use the non-parametric technique, the Kruskal-Wallis test, to provide robustness check for the results. Findings – The results indicate that the returns during Monday to Wednesday are positive and higher than the returns on Thursday and Friday which show negative returns. The returns during January are found to be higher than the returns during rest of the year. Further, all currencies exhibit significant DOW and January effects in pre-crisis period, however, post-crisis; these effects disappear for all currencies indicating that the markets have become more efficient in the later time. The findings can be further attributed to the increased intervention in the forex markets by the Reserve Bank of India after the crisis. Practical implications – The results have important implications for both traders and investors. The findings suggest that the investors might not be able to earn excess profits by timing their positions in some particular currencies taking the advantage of DOW or January effect which in turn indicates that the currency markets have become more efficient with time. The results are in conformity with those reported for the developed markets. The results might be appealing to the practitioners as well in a way that they can consider the state of financial market for financial decision making. Originality/value – The authors provide the first study to examine the calendar anomalies (DOW and January effect) across a range of emerging currencies using 16 years of data from January, 1999 to December, 2014. To the best of the authors’ knowledge, no study has yet examined these calendar anomalies in the currency markets using data which covers two important periods, pre-2008 and post-2008.

Tacit knowledge transfer in coopetition

2017 ◽  
Vol 10 (4) ◽  
pp. 453-468 ◽  
Author(s):  
Amit Kumar ◽  
Swarup Kumar Dutta
Keyword(s):  
Knowledge Transfer ◽  
Tacit Knowledge ◽  
Least Square ◽  
Service Firms ◽  
Content Type ◽  
Ordinary Least Square ◽  
Tacit Knowledge Transfer ◽  
Potential Benefits ◽  
Ordinary Least Square Regression ◽  
Empirical Context

Purpose The purpose of this paper is to understand how firms affiliated to business groups (BGs) are able to improve their innovation capability (IC) when engaged in coopetition (collaboration between competing firms). This study aims to explore the relationship between coopetitive relationship strength (CRS), the extent of tacit knowledge transfer (TKT) and IC as well as examine the moderating effect of both BG affiliation and coopetitive experience. Design/methodology/approach The paper examines inter-firm relationships within the empirical context of Indian manufacturing and service firms, by adopting (ordinary least square) regression analysis to test the various hypotheses. The central thesis is that the TKT in coopetition constitutes an important driver to the IC. Findings The paper provides some evidence that inter-firm CRS influences the extent of TKT, and the extent of TKT affects firm IC. The results support that firms in coopetition gain more if their coopetitive partner has a BG affiliation. In absence of a BG affiliation of any of the coopetitive partners, the buildup of TKT reduces as CRS is increased. Research limitations/implications Additional large-sample of data may attempt to validate relationships. The study, however, did not consider all enablers that are critical for TKT. Despite these limitations, analysis provides important and novel perspectives. Practical implications The paper contributes to develop executives’ practices in understanding potential benefits of coopetitive relationship. The implications of this research are important for managers seeking understanding of the management of coopetition. Originality/value The paper makes a modest attempt to investigate the various scenarios of the presence or absence of the moderation of BGs and its impact on CRS in the buildup of TKT. This is the first attempt to link coopetition to the TKT in the BG literature. This study also contributes to our understanding of coopetition in a non-western context.

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.

Users’ perception of cybersecurity, trust and cloud computing providers’ performance

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hongjiang Xu ◽  
Sakthi Mahenthiran
Keyword(s):  
Cloud Computing ◽  
Structural Equation ◽  
Design Methodology ◽  
Positive Relationship ◽  
Least Square ◽  
Equation Modeling ◽  
Content Type ◽  
Ordinary Least Square ◽  
Ordinary Least Square Regression ◽  
Computing Literature

Purpose This study aims to develop a scale to measure the cloud provider’s performance and it investigates the factors that impact that performance from the users’ perspective. Design/methodology/approach This paper proposes a research framework, develops hypotheses and conducts a survey to test the framework. Findings The results from both ordinary least square regression and structural equation modeling analyzes indicate that information technology complexity negatively and significantly affects users’ perception of the cloud computing providers’ performance. Additionally, the trust in the supervisor significantly enhances the otherwise insignificant positive relationship between providers’ cybersecurity capability and users’ perception of their providers’ performance. Originality/value The research makes important contributions to the cloud computing literature, as it measures users’ perception of the cloud computing provider’s performance and links it with cybersecurity, technical complexity and incorporates both the trust in the client firm’s supervisor and the strength of cybersecurity offered by cloud computing provider.

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