scholarly journals The Role of Environmental, Social, and Governance Disclosure in Financial Transparency

2020 ◽  
Vol 12 (17) ◽  
pp. 6757
Author(s):  
Ionica Oncioiu ◽  
Delia-Mioara Popescu ◽  
Anca Elena Aviana ◽  
Alina Șerban ◽  
Florica Rotaru ◽  
...  
Keyword(s):  
Financial Reporting ◽  
Business Environment ◽  
Economic Sector ◽  
Economic Sectors ◽  
Analytic Hierarchy ◽  
Stakeholder Orientation ◽  
Financial Communication ◽  
Financial Transparency ◽  
The Impact ◽  
Governance Disclosure

In today’s business environment, corporate governance and financial transparency have an impact on the performance of firms. These changes are important for understanding the widespread accessibility of relevant and reliable information regarding an entity’s financial and nonfinancial aspects. The purpose of this study was to show how the environmental, social, and governance disclosure performance of companies has gained a reputation of having a fundamental role in financial transparency and how it varies by stakeholder orientation and economic sector. In this regard, we developed a new model based on stakeholders’ perceptions to analyze the impact of environmental, social, and governance disclosure on financial transparency using the Analytic Hierarchy Process (AHP) method and select the economic sector that ensures transparency in sustainable and financial reporting. This model was applied over the 2008–2018 period to 143 companies from eight countries in the most representative economic sectors: finance, energy, and telecommunication services. Our results portray that environmental, social, and governance reporting are a company’s means of communication with stakeholders, as part of their accountability and stewardship obligations, and at the same time, they are a tool for achieving transparency regarding the financial performance of a firm. Furthermore, our findings also showed whether environmental, social, and governance (ESG) disclosures act as a vector of financial communication for enterprises, and this relationship will also be evident in their role in financial transparency.

ASSESSMENT OF BUSINESS ENVIRONMENT DEVELOPMENT PERCEPTION UNDER THE INFLUENCE OF COVID-19: THE CASE OF LATVIA

2020 ◽  
Author(s):  
Andra Zvirbule ◽  
Gunta Grinberga-Zalite ◽  
Aina Muska
Keyword(s):  
Business Environment ◽  
Objective Data ◽  
Economic Sectors ◽  
Environment Changes ◽  
Logical Construction ◽  
The World ◽  
Regional Location ◽  
Data Grouping ◽  
The Impact ◽  
Business Sectors

Not only macroeconomic growth scenarios and forecasts but also business environment assessments and development forecasts have changed as a result of the worldwide COVID-19 pandemic. Many of the forecasts are based on objective data on the performance of economic sectors; however, some of them are based on business perceptions or business sentiment assessments. There is no doubt that these perceptions and business sentiment assessments differ within business sectors and according to size of the company, regional location and type of business. The aim of the research is to identify and provide an assessment of the business environment development perceptions in the COVID-19 situation in Latvia and compare them with business sentiment assessments from other countries. Specific tasks of the research: to collect information on business environment changes in Latvia in the COVID-19 situation; to compile business perceptions of the impact of COVID-19 on the business environment in the world and in Latvia; to identify the perceptions of the business environment in the most important business sectors in Latvia. Methods: monographic, data grouping, logical construction and mathematical and statistical analysis. The research identified business environment changes in business sectors in Latvia under COVID-19’s influence and business perceptions of the impact of COVID-19 on the business environment for the next 6 months. Based on the research, the authors have drawn conclusions about the future development of the business environment and have identified the sectors that will be negatively affected by the COVID-19 crisis in the coming months.

scholarly journals Factors affecting the business environment of SMEs in Nitra region in Slovakia

2018 ◽  
Vol 9 (2) ◽  
pp. 309-331
Author(s):  
Enikő Korcsmáros ◽  
Monika Šimova
Keyword(s):  
Future Development ◽  
Regional Policy ◽  
Research Question ◽  
Value Added ◽  
Business Environment ◽  
Transport Cost ◽  
Primary Research ◽  
Economic Sectors ◽  
The Future ◽  
The Impact

Research background: Businesses are directly affected by the outside world, i.e. the business environment. Literature review lists a number of factors of the business environment affecting businesses. These factors may be oriented towards inputs, outputs, sales, or can be an instrument of regional policy. With regard to future development of businesses, it is crucial to identify which factor and to what extent can influence the operation of the business. Purpose of the article: The main objective of the primary research was to provide a comprehensive assessment of how different factors influence enterprises of different economic sectors as well as help to verify the research question defined and formulate recommendations for future development of enterprises. The questionnaire survey to verify the research question was conducted on a sample of 496 small and medium-sized enterprises. Methods: We chose quantitative method of ANOVA for processing the results of the survey, and we also set the limit of significant impact of different influence factors on the basis of analysed data of primary research, and the limit of significant impact. Based on literature study, we have grouped individual factors such as factors focused on inputs, on outputs, on sales, and instruments of regional policy. Based on those findings we can identify the impact of factors for the future development of SMEs in different economic sectors. Findings & Value added: SMEs of Nitra Region involved in the research represent different economic sectors and various factors influence them with different intensity, for future development of these SMEs it is necessary to reduce the transport cost of raw material and goods, improve the attitude of employees to work, and the technical level of equipment to improve the economic situation of the region. The mentioned findings are important for formulating the future regional development plan.

IMPACT OF REGULATORY REQUIREMENTS ON ENTITIES NON-FINANCIAL REPORTING: THE CASE OF UKRAINE

2021 ◽  
Author(s):  
Yana Oliinyk ◽  
◽  
Maria Kucheriava ◽  
Alla Zinchenko ◽  
◽  
...  
Keyword(s):  
Financial Reporting ◽  
Rapid Change ◽  
Business Environment ◽  
Business Organizations ◽  
Regulatory Requirements ◽  
Economies In Transition ◽  
Global Problems ◽  
Before And After ◽  
Business Entities ◽  
The Impact

In today’s environment of uncertainty and rapid change in the business environment (VUCA), there is a need to find effective solutions to global problems. The solution to urgent global problems facing Ukraine and the world depends on the orientation of business entities on the path to sustainable development. Ukraine has recently joined the countries with legislation requiring companies to compile and publish a management report. Therefore, determining the impact of institutional factors in ensuring the level of transparency and accountability of business organizations in countries with economies in transition in the context of SDGs’ attainment is now important. The core task of the study is to assess the dynamics of disclosure by certain enterprises of non-financial data, including the impact on the economy, environment and society, before and after the adoption of relevant regulations; to substantiate conclusions and suggest solutions to identified problems.

Corporate governance disclosure and share price accuracy

2015 ◽  
Vol 16 (2) ◽  
pp. 265-286 ◽  
Author(s):  
Walaa Wahid ElKelish ◽  
Mostafa Kamal Hassan
Keyword(s):  
Corporate Governance ◽  
Regression Analysis ◽  
Stock Market ◽  
Emerging Market ◽  
Business Environment ◽  
Share Price ◽  
Content Type ◽  
International Good ◽  
The Impact ◽  
Governance Disclosure

Purpose – The purpose of this paper is to investigate the impact of corporate governance disclosure on share price accuracy of listed companies in the United Arab Emirates (UAE). Design/methodology/approach – Data on corporate governance disclosure were obtained from the financial statements of companies listed in the UAE stock market, and share price accuracy indices were crafted from each company’s weekly share price returns between 2008 and 2009, using generalized least squares regression analysis. Multiple regression analysis with fixed effects was then implemented to test the study hypotheses. Findings – Voluntary corporate governance disclosure has a significant positive impact on share price accuracy. There is also evidence that mandatory corporate governance disclosure plays an important positive role on share price accuracy in the UAE business environment. Research limitations/implications – This paper covers a two-year transitional period during implementation of a new corporate governance code in the emerging market of the UAE. Practical implications – This paper encourages corporate managers in the UAE, as well as in other countries with similar business conditions, to review their voluntary corporate governance disclosure policies in accordance with international good practice. The authors suggest that regulators and accounting standard setters should extend mandatory corporate governance disclosure rules for the benefit of stock market participants and the overall welfare of the economy. Originality/value – This paper extends the literature on the relationship between accounting disclosure and share price accuracy to include corporate governance disclosure in emerging market economies such as the UAE. It also shows the importance of both voluntary and mandatory corporate governance disclosure.

scholarly journals Tourism Development and its Impact on the Peripheral Society: A Case Study of Ladakh

2021 ◽  
Vol 6 (1) ◽  
pp. 49-64
Author(s):  
Priyanka Singh ◽  
Ajay Kumar Singh
Keyword(s):  
Tourism Development ◽  
Peripheral Region ◽  
Tourism Industry ◽  
Economic Sector ◽  
Economic Sectors ◽  
Cultural Changes ◽  
Cultural Elements ◽  
Agent Of Change ◽  
The Impact

Tourism has strongly been considered as an agent of change and widely used as a major tool for achieving the goals of development.  Sinc the prefix, ‘sustainable’ has been added to the term development and subsequently applied to all major economic sectors, the dimensions of development stretched  to a greater extent than before  and desired goals of development have been redefined.  Tourism industry, often regarded as a world’s largest and fastest growing economic sector has also come under the diameters of sustainable  development.  The impact of tourism is not limited to the economic sector only.  This industry has proven to be a strong stimulus for socio-cultural changes too.  These impacts become more apparent in remote and peripheral regions where the, societies are traditional and closed and where  the cultural elements are preserved in authentic form. In this paper, an attempt has been made to examine the nature of tourism development in Ladakh, which is a peripheral  region and explain how socio-cultural changes occur in this region since the introduction of tourism.  Further, assumptions have been made through discussion regarding the future impact and the nature of tourism development in Ladakh.

scholarly journals The Impact of International Financial Reporting Standards (IFRS): Evidence from Canada

2016 ◽  
Vol 11 (2) ◽  
pp. 51-57
Author(s):  
Theresa DiPonio Hilliard ◽  
Presha Neidermeyer
Keyword(s):  
Financial Reporting ◽  
Business Environment ◽  
Management Policy ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Policy Choices ◽  
Comprehensive Knowledge ◽  
The Impact ◽  
First Time

Abstract The Canadian transition to IFRS provides a valuable IFRS learning opportunity. The Canadian transition and implementation of IFRS provides a unique opportunity to examine the conversion of financial reporting from a similar set of financial reporting rules as U.S. GAAP in a similar economic and business environment. The implementation and adoption of IFRS is not a monolithic event. Our ability to comprehensively understand and assess IFRS requires transparent disclosures such as those mandated by IFRS 1 and disaggregation of the equity components to observe and measure the impact of IFRS as it pertains to discretionary management implementation choices, material reclassifications, and GAAP-to-GAAP differences. Comprehensive knowledge of IFRS 1, First Time Adoption of International Financial Reporting Standards is crucial to our ability to assess the transitory and future impact of IFRS. IFRS 1 sets the precedent for financial reporting under IFRS, overrides transitional provisions included in other IFRS, and prescribes detailed disclosures. This detailed “rules-based” standard permits discretionary management policy choices which have material impact on transitory reporting as well as future financial results.

scholarly journals Утицај промјена у пословном окружењу и нормативној основи финансијског извјештавања на исказну моћ мјерила финансијских перформанси компанија // The impact of changes in the business environment and normative basis of financial reporting on the presented power of measure of financial performance of the company

2018 ◽  
Vol 14 (24) ◽  
Author(s):  
Ката Шкарић Јовановић
Keyword(s):  
Financial Performance ◽  
Performance Measures ◽  
Financial Reporting ◽  
Fair Value ◽  
Business Environment ◽  
Normative Basis ◽  
Financial Performance Measures ◽  
The Many ◽  
Short Time ◽  
The Impact

Резиме: Више од једног вијека стара рацио анализа, упркос бројним промјенама које су настале, нарочито у посљедње двије деценије у окружењу и пословању компанија, показала се као једноставан и брз начин идентификовања квалитета финансијског положаја и успјешности. Почетак примјене „мјешовите” основе финансијског извјештавања донио је усљед примјене фер вриједности промјену у садржини резултата и сопственог капитала. Околност да резултат садржи нереализоване добитке чија се реализација може очекивати у релативно кратком року, претворила је реализовани добитак из концепта историјског трошка у резултат који би компанија остварила ако до тренутка продаје финансијских средстава која се вреднују по фер вриједности кроз резултат не би било промјена њихове фер вриједности. Како су таква очекивања нереална, корисно је утврдити учешће нереализованих добитака/губитака у резултату. Слична, али јача потреба постоји и када је ријеч о сопственом капиталу, који садржи нереализоване добитке чија реализација ће усљедити у дужем периоду, па је вјероватноћа да ће доћи до промјена фер вриједности средстава и обавеза који се вреднују по фер вриједности кроз Остали укупан резултат виша. Мјерила финансијских перформанси која се утврђују на основу наведених величина због овога могу имати другачију висину и тумачење. Потреба да се мјерила перформанси прилагоде потребама инвеститора и повјерилаца наметнула је захтјеве за стварањем нових и коришћењем нефинансијских мјерила перформанси заједно са одабраним мјерилима финансијских перформанси.Summary: Until today despite the many changes that have occurred, particularly in the last two decades, in the business environment and operations of companies, more than a century old ratio analysis proved to be a simple and quick way of identifying the quality of their financial position and successfulness. The beginning of the application of „mixed” basis of financial reporting brought change in the content of results and in the equity due to the application of the fair value. The circumstances in which the result includes unrealized gains whose realization can be expected in a relatively short time, turned a realized gain out of the concept of historical cost into the result that the company would achieve if, until the sale of financial assets that are measured at fair value per result, there would not be any changes in their fair value. As such expectations are unrealistic it is useful to determine the share of unrealized gains/losses in the result. There is also a similar but stronger need when it comes to the equity, which includes unrealized gains whose realization will occur in a longer period, so there is higher probability that changes in the fair value of assets and liabilities which are measured at fair value per other total result will happen. Because of this measures of financial performance, which are determined on the basis of the stated parameters, can have different values and interpretations. The need to adapt the performance measures to the needs of investors and creditors imposed the requirements for establishing new ones and using non-financial performance measures together with the selected measures of financial performance.

scholarly journals Factors affecting the business environment of SMEs in Nitra region in Slovakia

2018 ◽  
Vol 9 (2) ◽  
pp. 309-331 ◽  
Author(s):  
Enikő Korcsmáros ◽  
Monika Šimova
Keyword(s):  
Future Development ◽  
Regional Policy ◽  
Research Question ◽  
Value Added ◽  
Business Environment ◽  
Transport Cost ◽  
Primary Research ◽  
Economic Sectors ◽  
The Future ◽  
The Impact

Research background: Businesses are directly affected by the outside world, i.e. the business environment. Literature review lists a number of factors of the business environment affecting businesses. These factors may be oriented towards inputs, outputs, sales, or can be an instrument of regional policy. With regard to future development of businesses, it is crucial to identify which factor and to what extent can influence the operation of the business. Purpose of the article: The main objective of the primary research was to provide a comprehensive assessment of how different factors influence enterprises of different economic sectors as well as help to verify the research question defined and formulate recommendations for future development of enterprises. The questionnaire survey to verify the research question was conducted on a sample of 496 small and medium-sized enterprises. Methods: We chose quantitative method of ANOVA for processing the results of the survey, and we also set the limit of significant impact of different influence factors on the basis of analysed data of primary research, and the limit of significant impact. Based on literature study, we have grouped individual factors such as factors focused on inputs, on outputs, on sales, and instruments of regional policy. Based on those findings we can identify the impact of factors for the future development of SMEs in different economic sectors. Findings & Value added: SMEs of Nitra Region involved in the research represent different economic sectors and various factors influence them with different intensity, for future development of these SMEs it is necessary to reduce the transport cost of raw material and goods, improve the attitude of employees to work, and the technical level of equipment to improve the economic situation of the region. The mentioned findings are important for formulating the future regional development plan.

scholarly journals Impact Of Computerized Accounting Information System On Small And Medium Enterprises In Mogadishu, Somalia: The Balance Scorecard Perspectives

2019 ◽  
Vol 8 (5C) ◽  
pp. 159-165
Keyword(s):  
Decision Making ◽  
Financial Reporting ◽  
Balanced Scorecard ◽  
Business Processes ◽  
Business Environment ◽  
Financial Information ◽  
Capital City ◽  
African Countries ◽  
The World ◽  
The Impact

Information, communication and technology (ICT) adoption has increased dramatically over time irrespective of organizations, be public or private, profit or not for profit organizations around the world. No doubt that ICT investment will spur economic growth as studied done by many countries. The African Union Agenda 2063 has acknowledged the importance of digital inclusivity for African countries to be on par with the rest of the world as an information society. African nation and Somalia particularly have still some challenges to deploy ICT on the concern of availability, accessibility and affordability. Nevertheless, in a business environment where businesses compete in the highly fragile market, ICT modernization in all business processes including accounting is a crucial tool for continuous improvement towards competitive services offered to customers. The implementation and adaption computerized accounting systems (CAIS) for any organization such as SMEs will enable the management and owners to improve decision making, internal controls and financial information, as well as enable financial reporting to be designed and processed on a standardized format and timely. It was reported that the use of inefficient information to support financial decision making and poor quality and reliability of financial information were part of the major SMEs challenges. Therefore, this study attempts to understand the usage of CAIS and its impact on the performance of SMEs in Somalia. The survey questionnaire is designed and distributed to selected SMEs in the capital city of Mogadishu, Somalia. The results of CAIS’s impact are discussed from four components of balanced scorecard namely financial, customer, internal processes and learning & growth perspectives. The results of this study may provide knowledge about the impact of usage CAIS for SMEs performance in Somalia

Pengaruh Budaya Terhadap Akuntansi, Auditing Dan Praktik Akuntansi Internasional

2016 ◽  
Vol 3 (1) ◽  
pp. 78-95
Author(s):  
Priyastiwi Priyastiwi
Keyword(s):  
Cultural Values ◽  
Leadership Style ◽  
Financial Reporting ◽  
National Level ◽  
Deep Understanding ◽  
Cultural Dimensions ◽  
Financial Disclosure ◽  
Cross Cultural Differences ◽  
The Future ◽  
The Impact

The purpose of this article is to provide the basic model of Hofstede and Grays’ cultural values that relates the Hofstede’s cultural dimensions and Gray‘s accounting value. This article reviews some studies that prove the model and develop the research in the future. There are some evidences that link the Hofstede’s cultural values studies with the auditor’s judgment and decisions by developing a framework that categorizes the auditor’s judgments and decisions are most likely influenced by cross-cultural differences. The categories include risk assessment, risk decisions and ethical judgments. Understanding the impact of cultural factors on the practice of accounting and financial disclosure is important to achieve the harmonization of international accounting. Deep understanding about how the local values may affect the accounting practices and their impacts on the financial disclosure are important to ensure the international comparability of financial reporting. Gray’s framework (1988) expects how the culture may affect accounting practices at the national level. One area of the future studies will examine the impact of cultural dimensions to the values of accounting, auditing and decision making. Key word : Motivation, leadership style, job satisfaction, performance

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