scholarly journals Institutional Investors' Monitoring Roles in State Controlled Firms and Income Smoothing Analysis for Stable Growth and Sustainability: Focusing on China Stock Market

2021 ◽  
Author(s):  
Meng-Jun Xu ◽  
Dong-Il Kim
Keyword(s):  
Sustainable Development ◽  
Private Information ◽  
Institutional Investors ◽  
Corporate Sustainability ◽  
Income Smoothing ◽  
Individual Investors ◽  
Stable Growth ◽  
Using Data ◽  
The Relationship

The purpose of this study is to examine the relationship between the institutional investors which can affect financial performance for corporate sustainability on the income smoothing. Therefore, this study focus on the connection between the nature of stock rights and income smoothing in China. For this study, hypotheses were established on the relationship each state-controlled companies, income smoothing, and information equilibrium of individual investors, and empirical analysis was conducted through related variables. The analysis results are summarized in three categories as follows. First, this research finds that state-controlled firms (CONTs) prefer income smoothing activities compared to non-state-controlled firms for the long-term sustainable development of firms using data from 2011 to 2019. Second, this study found out that Institutional investors support the behavior of CONTs to smooth their earnings because this behavior is seen as an attempt by CONTs to convey valuable private information to other investors. Third, we was able to discover that institutional investors' monitoring effect is predominantly driven by pressure-resistant institutional investors. This research complements the lack of empirical research on income smoothing and enable to give a guideline that the type of stock rights is a critical key determinant of participation in income smoothing activities for stable growth and sustainability in the future.

Relationship-Specificity, Contract Enforceability, and Income Smoothing

2013 ◽  
Vol 88 (5) ◽  
pp. 1629-1656 ◽  
Author(s):  
Yiwei Dou ◽  
Ole-Kristian Hope ◽  
Wayne B. Thomas
Keyword(s):  
Incomplete Contracts ◽  
Optimal Investment ◽  
Income Smoothing ◽  
Additional Risk ◽  
Specific Investment ◽  
Specific Investments ◽  
Contractual Obligations ◽  
The Cost ◽  
The Relationship

ABSTRACT: Contracting parties, such as the firm and its supplier, have cost-reducing incentives to make investments that support the unique transactions between them. However, to the extent that one party may renege on its contractual obligations, the other party incurring the cost of the relationship-specific investment bears additional risk and is less willing to invest such that sub-optimal investment occurs. In countries where enforceability of explicit contracts is particularly weak, parties have incentives to signal their willingness to fulfill implicit claims and maintain long-term relationships. We predict that firms engage in income smoothing to send such a signal to their suppliers. Consistent with these expectations, we find that firms that both reside in countries with weak contract enforceability and operate in industries with a greater need for relationship-specific investments tend to smooth reported income more. We further decompose income smoothing into “informational” and “garbled” components and find that results are driven by the informational component of income smoothing. Our results support the important role that accruals play in providing information in the presence of incomplete contracts. JEL Classifications: F14, K12, L14, M41, M43

scholarly journals Creative Accounting – Definition, Types, Purposes and Impact on United Nations’ Sustainable Development Goals

2020 ◽  
pp. 328-341
Keyword(s):  
Sustainable Development ◽  
United Nations ◽  
Earnings Management ◽  
Sustainable Development Goals ◽  
General Term ◽  
Income Smoothing ◽  
Creative Accounting ◽  
Development Goals ◽  
Intersection Points ◽  
The Relationship

This article aims to define what is the essence of the so called "creative accounting", its purposes, types of creative accounting techniques and methods and how it relates to and impacts the United Nations’ sustainable development goals (SDGs). Various definitions and characteristics are given to this phenomenon – different authors use variety of terms such as earnings management, income smoothing, creative accounting practices, aggressive accounting, cook the books, accounts manipulation, or window dressing. Irrespectively how it is called, it relates to one and the same thing – presentation of companies’ financial position, cash accounts, equity and earnings in a way that pursues specific personal objective. In most cases, this deliberate presentation is not fraudulent and does not violates the law or the relevant accounting standards, but breaks down the confidence in accounting profession and contradicts to the ethical principles of professional accountants. Specific attention is given to the relationship between accounting and sustainability and particularly, how creative accounting practices impact the achievement of United Nations’ sustainable development goals. Literature analysis and deliberations are presented on how creative accounting prevents the fair allocation of resources in economy and the damage it causes to society. This study does not pretend to explore in detail either the creative accounting, or the SDGs, but its essential objective is to create a basic overview on both phenomena and find intersection points between them. A lot of studies explore the relationship between accounting as a general term and UN’ Sustainable Development Goals, but very few are focused specifically on the link between creative accounting and it’s influence on the achievement of those goals.

The Consumer Role for Sustainable Development

2020 ◽  
pp. 325-341
Author(s):  
Seda Yildirim
Keyword(s):  
Sustainable Development ◽  
Sustainable Development Goals ◽  
Sustainable Consumption ◽  
Consumption Behavior ◽  
Responsible Consumption ◽  
The World ◽  
Development Goals ◽  
Set Up ◽  
The Relationship

The term sustainable consumption is not only a behavior type in marketing and a just consumption behavior, it is more than this. Sustainable or responsible consumption behavior can change the world. Sustainable consumption concept has been investigated widely in the literature and factors that effecting sustainable consumption or being a green consumer has been investigated recently, too. But the relationship between sustainable development and consumer behavior isn't investigated sufficiently. After 2030 Sustainable Development Goals set up, responsibilities and roles have been an important issue to achieve sustainable development in the long term. In this point, this study aims to investigate the consumer role for sustainable development goals through sustainable consumption patterns and trends.

The Consumer Role for Sustainable Development

2022 ◽  
pp. 872-888
Author(s):  
Seda Yildirim
Keyword(s):  
Sustainable Development ◽  
Sustainable Development Goals ◽  
Sustainable Consumption ◽  
Consumption Behavior ◽  
Responsible Consumption ◽  
The World ◽  
Development Goals ◽  
Set Up ◽  
The Relationship

The term sustainable consumption is not only a behavior type in marketing and a just consumption behavior, it is more than this. Sustainable or responsible consumption behavior can change the world. Sustainable consumption concept has been investigated widely in the literature and factors that effecting sustainable consumption or being a green consumer has been investigated recently, too. But the relationship between sustainable development and consumer behavior isn't investigated sufficiently. After 2030 Sustainable Development Goals set up, responsibilities and roles have been an important issue to achieve sustainable development in the long term. In this point, this study aims to investigate the consumer role for sustainable development goals through sustainable consumption patterns and trends.

The influence of unilateral supplier transaction-specific investments on international buyer opportunism: empirical findings from local suppliers in China

2020 ◽  
Vol 37 (2) ◽  
pp. 213-239 ◽  
Author(s):  
Lei Wang ◽  
Chun Zhang ◽  
Jun Li ◽  
Dong Huo ◽  
Xing Fan
Keyword(s):  
Emerging Market ◽  
Multiple Informants ◽  
Supplier Relationships ◽  
Content Type ◽  
Relationship Length ◽  
Cross Border ◽  
Specific Investments ◽  
Using Data ◽  
The Relationship

PurposeThis study examines how unilateral supplier transaction-specific investments (TSIs), directly and indirectly, influence international buyer opportunism and the extent to which detailed contracts enable suppliers to safeguard against international buyer opportunism. The study also examines whether relationship length affects the efficacy of detailed contracts in cross-border outsourcing relationships.Design/methodology/approachThe hypotheses are tested by using data collected from multiple informants working for 229 manufacturing suppliers in China. Multiple regression with a three-way interaction is used to test the hypotheses.FindingsUnilateral supplier TSIs encourage international buyer opportunism through increased supplier dependence. Contract specificity negatively moderates the effect of supplier dependence on international buyer opportunism. This moderating effect is stronger in long-term cross-border buyer–supplier relationships than in short-term ones.Originality/valueThe current study extends the cross-border outsourcing literature by examining how emerging-market suppliers in a weak power position can proactively safeguard against international buyer opportunism by using detailed contracts. Our findings show that supplier dependence mediates the relationship between unilateral supplier TSIs and international buyer opportunism; detailed contracts, however, can help dependent suppliers safeguard against international buyer opportunism. In particular, the findings highlight the importance of long-term buyer–supplier relationships that enhance the efficacy of detailed contracts.

Sustainability Efficiency Assessment in the Turkish Manufacturing Sector

2022 ◽  
pp. 261-285
Author(s):  
Isil Erem Ceylan
Keyword(s):  
Manufacturing Sector ◽  
Corporate Sustainability ◽  
Data Envelopment ◽  
Manufacturing Companies ◽  
Social Dimensions ◽  
Sustainability Index ◽  
Efficiency Assessment ◽  
Potential Improvement ◽  
Using Data ◽  
The Relationship

This chapter intends to measure environmental, social, and economic sustainability efficiency levels of the manufacturing companies listed in Borsa Istanbul Sustainability Index by using data envelopment analysis (DEA) based on the target year of 2019. In this context, considering the relationship between inputs and outputs determined as a result of the comprehensive review of the related literature, efficiency assessment is made by considering environmental, social, and economic indicators, which are the main dimensions of corporate sustainability. The input-oriented Charnes, Cooper, and Rhodes (CCR) and Banker, Charnes, and Cooper (BCC) models have been used in the efficiency measurement. According to the obtained efficiency scores for the relatively inefficient companies in terms of environmental, economic, and social dimensions, several suggestions are offered depending on the potential improvement rates for them.

AGE AND FERTILITY: CAN WOMEN WAIT UNTIL THEIR EARLY THIRTIES TO TRY FOR A FIRST BIRTH?

2011 ◽  
Vol 43 (6) ◽  
pp. 685-700 ◽  
Author(s):  
JOHN W. McDONALD ◽  
ALESSANDRO ROSINA ◽  
ESTER RIZZI ◽  
BERNARDO COLOMBO
Keyword(s):  
Healthy Subjects ◽  
Practical Importance ◽  
Event History ◽  
Coital Frequency ◽  
First Birth ◽  
Childless Women ◽  
Using Data ◽  
Long Term Survivors ◽  
The Relationship

SummaryPostponing the start of childbearing raises the question of fertility postponed versus fertility foregone. One of the limitations of previous studies of ‘How late can you wait?’ is that any observed decline in the probability of conception with age could be due to a decline in fecundability with age or due to a decline in coital frequency with age or due to both factors. Using data from a multinational longitudinal study conducted to determine the daily probability of conception among healthy subjects, a discrete-time event history model with long-term survivors (sterile population) is used to study the relationship between age and fecundability for childless women, while controlling for the pattern of intercourse within a menstrual cycle. The findings suggest that women can wait until their early thirties to try for a first birth, providing that they are not already sterile, as the magnitude of the decline in fecundability is very modest and of little practical importance.

scholarly journals Coach Mid-Season Replacement and Team Performance in Professional Soccer

2011 ◽  
Vol 28 (1) ◽  
pp. 115-122 ◽  
Author(s):  
Carlos Lago-Peñas
Keyword(s):  
Team Performance ◽  
Positive Impact ◽  
Short Term ◽  
Shock Effect ◽  
Professional Soccer ◽  
Before And After ◽  
Using Data ◽  
The Relationship ◽  
The Empirical Analysis

Coach Mid-Season Replacement and Team Performance in Professional SoccerThe coaching carousel or turnover is an extreme but frequently occurring phenomenon in soccer. Among the reasons for firing a coach, the most common is the existence of a shock-effect: a new coach would be able to motivate the players better and therefore to improve results. Using data from the Spanish Soccer League during the seasons from 1997-1998 to 2006-2007, this paper investigates the relationship between team performance and coach change over time. The empirical analysis shows that the shock effect of a turnover has a positive impact on team performance in the short term. Results reveal no impact of coach turnover in the long term. The favourable short-term impact on team performance of a coach turnover is followed by continued gradual worsening of results. The turnover effect is non-existent when the comparison between the new coach and the old coach is done over 10, 15 or 20 matches before and after termination.

Terrorism and tourism in Israel

2016 ◽  
Vol 23 (6) ◽  
pp. 1343-1352 ◽  
Author(s):  
Marion Karl ◽  
Gordon Winder ◽  
Alexander Bauer
Keyword(s):  
Time Lag ◽  
Research Model ◽  
Long Term Effects ◽  
Short Term ◽  
Event Tourism ◽  
Using Data ◽  
Terrorist Event ◽  
The Impact ◽  
The Relationship

While the relation between terrorism and tourism has been an important topic for tourism research, the questions whether terrorism affects tourism immediately and how long after a terrorism event tourism recovers are, as yet, not clearly answered. The aim of this article is to better understand the magnitude and temporal scale of the impact of terrorism on tourism. To this end, a research model differentiating between short-term and long-term effects of terrorism on tourism is developed and analyzed for the destination Israel using data on tourists from Germany. The results show both short-term and long-term impacts with a time lag between the terrorist event and the beginning of tourism decline of 1 or up to 6 months. An economic influence on the development of tourist arrivals was not detected, but seasonality plays an important role in the relationship between terrorism and tourism.

scholarly journals Corporate Social Responsibility and Sustainable Development for Creating Value for FMCG Sector Enterprises

2019 ◽  
Vol 11 (20) ◽  
pp. 5808 ◽  
Author(s):  
Katarzyna Liczmańska-Kopcewicz ◽  
Katarzyna Mizera ◽  
Paula Pypłacz
Keyword(s):  
Sustainable Development ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Environmental Aspects ◽  
Business Operations ◽  
Csr Strategy ◽  
Social Environmental ◽  
Corporate Social ◽  
The Relationship

In recent years, attention has been increasingly paid to social-, environmental-, and ecology-related issues in the areas of diverse business operations. The concept of sustainable development of enterprises is an attempt to integrate a diverse set of requirements for the development of companies in the long-term future. The concept, which is set in a contradictory context of economic, social, and environmental aspects, is an attempt to balance fundamentally divergent requirements and aspirations. Sustainable enterprise development can be a source of competitiveness, provided the opportunities related to it are identified and implemented in a proper way. The research objective of this study is to diagnose the relationship between the company’s orientation towards the implementation of sustainability assumptions, the degree of implementation of the objectives of the corporate social responsibility (CSR) strategy, as well as the creation of value in a sustainable enterprise. The survey was conducted on a sample of 165 FMCG (fast-moving consumer goods) sector enterprises. The results indicate the existence of a positive correlation between the variables analysed in the surveyed enterprises. Entrepreneurs guided by sustainable development pursue economic and non-economic values and have a more comprehensive set of appropriate measures necessary to create value in a sustainable enterprise, which consists of achieving economic, ecological, and social goals.

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