Impression Management Strategies in the Chairmen's Statements

2019 ◽  
pp. 199-215
Author(s):  
Jonas da Silva Oliveira ◽  
Graça Maria do Carmo Azevedo ◽  
Stéphanie Fernandes Pinheiro ◽  
Maria Fátima Ribeiro Borges
Keyword(s):  
Content Analysis ◽  
Financial Crisis ◽  
Organizational Performance ◽  
Impression Management ◽  
Financial Institutions ◽  
Management Strategies ◽  
Annual Reports ◽  
Crisis Period ◽  
The Individual ◽  
The Impact

This chapter assesses the influence of organizational performance in the adoption of impression management strategies in the Chairmen's statements of the Portuguese financial companies. It also evaluates the impact of the financial crisis on the adoption of impression management strategies. To this end, and using the content analysis of the Chairmen's statements included in the individual annual reports for 2006-2012 of 27 financial institutions, the authors conclude that even throughout the financial crisis period, Portuguese financial companies did not tend to adopt more impression management strategies. However, they have seen that in some years there is some evidence of its adoption.

scholarly journals Audit committee adoption and firm value: evidence from UK financial institutions

2018 ◽  
Vol 26 (1) ◽  
pp. 205-226 ◽  
Author(s):  
Peter Agyemang-Mintah ◽  
Hannu Schadewitz
Keyword(s):  
Financial Crisis ◽  
Financial Institutions ◽  
Firm Value ◽  
Audit Committee ◽  
Global Financial Crisis ◽  
Empirical Literature ◽  
Economic Downturn ◽  
Content Type ◽  
Crisis Period ◽  
The Impact

Purpose This paper aims to examine the impact of audit committee (AC) adoption on the financial value of financial institutions in the UK and also to examine the impact of the establishment of an AC on firm value during the pre/post-global financial crisis era. Design/methodology/approach The paper embarks on a theoretical and empirical literature review on AC adoption and its impact on a firm’s financial value. The paper uses data from 63 financial institutions and covers a 12-year period. Findings The empirical results indicate that the adoption of an AC by financial institutions has a positive and statistically significant impact on firm value. The results from the pre-crisis period also indicate that the adoption of an AC makes a positive and significant contribution to firm value. However, there is no impact on firm value during the post-crisis period. The results suggest that the entire UK economy experienced an economic downturn after the financial crisis (2009-2011), and financial firms were no exception. Research limitations/implications This study helps to fill research gaps on the relationships between ACs and firm value as they exist in UK financial institutions. These findings are important for policymakers and regulators. Practical implications This research will encourage firms to establish ACs. Social implications This new finding about the importance of firms having an AC in place is important for policymakers and regulators. Originality/value To the best of the authors’ knowledge, this research is the first to conduct an empirical study of the effect of AC adoption on UK financial institutions and firm value. Second, no single study has been conducted on the effects of AC adoption and its impact on either the pre- or post-financial crisis periods. This is the first paper to provide such empirical evidence.

The Determinants of Merger Withdrawals’ Abnormal Returns in The Australian Market

2015 ◽  
pp. 89-110 ◽  
Author(s):  
Thuy Nguyen Thu ◽  
Giang Dao Thi Thu ◽  
Hoang Truong Huy
Keyword(s):  
Financial Crisis ◽  
Event Study ◽  
Abnormal Returns ◽  
Market Response ◽  
Crisis Period ◽  
Valuation Effects ◽  
Event Study Method ◽  
Private And Public ◽  
Method Of Payment ◽  
The Impact

This paper examines the abnormal returns in merger withdrawals in Australia, especially distinguishing the market response between private and public targets. We also study the determinants of those abnormal returns, including the method of payment and the impact of financial crisis periods. Using the event study method, we document that in the Australian context, the announced withdrawal of mergers involving private targets creates significantly negative valuation effects in comparison with the valuation effects in withdrawal of mergers involving public targets. We also find that a financial crisis period strongly affects abnormal returns of merger withdrawals. However, the method of payment does not have any impact on the abnormal returns.

scholarly journals Factors affecting the organizational performance of manufacturing firms

2017 ◽  
Vol 9 ◽  
pp. 184797901771262 ◽  
Author(s):  
Ahmad Adnan Al-Tit
Keyword(s):  
Organizational Performance ◽  
Measurement Instrument ◽  
Manufacturing Firms ◽  
Factors Affecting ◽  
Mediating Role ◽  
Values And Beliefs ◽  
The Individual ◽  
The Impact ◽  
The Relationship

Numerous studies have been conducted to explore the individual effects of organizational culture (OC) and supply chain management (SCM) practices on organizational performance (OP) in different settings. The aim of this study is to investigate the impact of OC and SCM on OP. The sample of the study consisted of 93 manufacturing firms in Jordan. Data were collected from employees and managers from different divisions using a reliable and valid measurement instrument. The findings confirm that both OC and SCM practices significantly predict OP. The current study is significant in reliably testing the relationship between SCM practices and OP; however, it is necessary to consider cultural assumptions, values and beliefs as the impact of OC on OP is greater than the impact of SCM practices. Based on the results, future studies should consider the moderating and mediating role of OC on the relationship between SCM practices and OP.

COVID -19 and Indian Financial Markets: A Review

2020 ◽  
Vol 16 (02) ◽  
pp. 1-8
Author(s):  
Kamaldeep Kaur Sarna
Keyword(s):  
Financial Markets ◽  
Financial Institutions ◽  
Financial Services ◽  
Stock Markets ◽  
Global Economy ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
Management Strategies ◽  
The Impact

COVID-19 is aptly stated as a Black Swan event that has stifled the global economy. As coronavirus wreaked havoc, Gross Domestic Product (GDP) contracted globally, unemployment rate soared high, and economic recovery still seems a far-fetched dream. Most importantly, the pandemic has set up turbulence in the global financial markets and resulted in heightened risk elements (market risk, credit risk, bank runs etc.) across the globe. Such uncertainty and volatility has not been witnessed since the Global Financial Crisis of 2008. The spread of COVID-19 has largely eroded investors’ confidence as the stock markets neared lifetimes lows, bad loans spiked and investment values degraded. Due to this, many turned their backs on the risk-reward trade off and carted their money towards traditionally safer investments like gold. While the banking sector remains particularly vulnerable, central banks have provided extensive loan moratoriums and interest waivers. Overall, COVID-19 resulted in a short term negative impact on the financial markets in India, though it is making a way towards V-shaped recovery. In this context, the present paper attempts to identify and evaluate the impact of the pandemic on the financial markets in India. Relying on rich literature and live illustrations, the influence of COVID-19 is studied on the stock markets, banking and financial institutions, private equities, and debt funds. The paper covers several recommendations so as to bring stability in the financial markets. The suggestions include, but are not limited to, methods to regularly monitor results, establishing a robust mechanism for risk management, strategies to reduce Non-Performing Assets, continuous assessment of stress and crisis readiness of the financial institutions etc. The paper also emphasizes on enhancing the role of technology (Artificial Intelligence and Virtual/Augmented Reality) in the financial services sector to optimize the outcomes and set the path towards recovery.

scholarly journals Value relevance of accounting data and financial crisis in Europe: an empirical analysis

2012 ◽  
Vol 2 (2) ◽  
pp. 201 ◽  
Author(s):  
Alain Devalle
Keyword(s):  
Financial Crisis ◽  
Positive Impact ◽  
Value Relevance ◽  
Net Income ◽  
Accounting Data ◽  
Book Value ◽  
Crisis Period ◽  
Comprehensive Income ◽  
The Impact ◽  
The Relationship

This paper aims at verifying the relationship between book value and  market value for a four years period (2006-2009) in Europe, under IFRS. In particular, I used value relevance approach to measure whether net income or comprehensive income are more useful to understand the relationship between market data and financial data. Moreover, the paper analyzes the impact of financial crisis on the value relevance of accounting data. The examination period runs from a pre-crisis period (2006-2007) to an in-crisis period (2008-2009). Results shows that comprehensive income is more value relevant than net income. Furthermore, the financial crisis has a positive impact on value relevance.  

Determinants of the Readability and Comprehensibility of Risk Disclosures

2019 ◽  
pp. 216-238
Author(s):  
Jonas da Silva Oliveira ◽  
Graça Maria do Carmo Azevedo ◽  
Augusta da Conceição Santos Ferreira ◽  
Susana Patrícia Henriques Martins ◽  
Cláudia Roberta de Araújo Alves Pinto
Keyword(s):  
Corporate Governance ◽  
Content Analysis ◽  
Impression Management ◽  
Management Strategies ◽  
Financial Statements ◽  
Listed Companies ◽  
Risk Information ◽  
Negative Association ◽  
Risk Disclosures

The chapter intends to determine if managers make use of impression management strategies to hide or obfuscate risk disclosures through the analyses of the risk information disclosed by Portuguese non-financial listed companies. A content analysis of the management reports, notes to the financial statements, and corporate governance reports of companies listed at Euronext Lisbon, in the years 2007, 2010, and 2013 was carried out. Findings indicate that the understandability of the risk information is positively associated with the company's size. Results also indicate that there is a negative association between the readability of risk information disclosed and the company's size and industry.

Climate Change Accounting and Value Growth of Financial Institutions in West Africa

2021 ◽  
pp. 431-445
Author(s):  
Haruna Maama ◽  
Ferina Marimuthu
Keyword(s):  
Climate Change ◽  
Panel Data ◽  
West Africa ◽  
Financial Institutions ◽  
Annual Reports ◽  
Impact Of Climate Change ◽  
Panel Data Regression ◽  
Data Regression ◽  
The Impact ◽  
Value Growth

The study investigated the impact of climate change accounting on the value growth of financial institutions in West Africa. The study used 10 years of annual reports of 47 financial institutions in Ghana and Nigeria. The climate change disclosure scores were determined based on the task force's recommended components on climate-related financial disclosure. A panel data regression technique was used for the analysis. The study found a positive and significant relationship between climate change accounting and the value of financial institutions in West Africa. This result implies that the firms' value would improve should they concentrate and enhance their climate change disclosure activities. The findings also revealed that the impact of climate change accounting on the value of financial institutions is positively and significantly higher in countries with stronger investor protection. These findings enable us to expand our understanding of the process of generating value for investors in financial institutions and society, generally.

Memories and Uses of the Past

2021 ◽  
pp. 1-17
Author(s):  
Youssef Cassis ◽  
Catherine R. Schenk
Keyword(s):  
Financial Crisis ◽  
Financial Institutions ◽  
Financial Crises ◽  
Academic Disciplines ◽  
Conceptual Frameworks ◽  
Historical Perspectives ◽  
The Past ◽  
Past Experiences ◽  
The Impact

This chapter establishes the conceptual frameworks for assessing memories of financial crises and the ways that the past is used in periods of financial crisis. We use this framework to address three fundamental questions: first, are financial crises remembered, and if so how? Second, have lessons been drawn from past financial crises? And third, have past experiences been used in order to make practical decisions when confronted with a new crisis? These questions are of course related, yet they have been approached from different historical perspectives, using methodologies borrowed from different academic disciplines. One of the objectives of this book is to explore how these approaches can complement each other in order to better understand the relationships between remembering and learning from financial crises and how the past is used by financial institutions. It thus recognizes financial crisis as a recurring phenomenon and addresses the impact that this has in a range of public and policy contexts.

Association of Organizational Attributes With Human Resource Disclosure: Evidence From Bangladeshi Banks

2019 ◽  
Vol 9 (2) ◽  
pp. 99
Author(s):  
Mohammad Ali ◽  
Tania Ahmed
Keyword(s):  
Content Analysis ◽  
Human Resource ◽  
Multiple Linear Regression Model ◽  
Descriptive Statistics ◽  
The Other ◽  
Annual Reports ◽  
Length Of Service ◽  
Bank Profitability ◽  
Organizational Attributes ◽  
The Impact

This paper aims to investigate the extent to which organizational attributes are associated with the human resource disclosure of banking organizations. Content analysis is used to collect the data from annual reports available on the bank’s website and unweighted disclosure index is employed to record the score of HR items. Descriptive statistics is used to analyse the extent of HR disclosure and multiple linear regression model is carried out to analyse the impact of the determinants including length of service, size of the bank, profitability, total number of employees and total number of pages on the explained variable. The study endorses that the highest reported item is the description of the staff whereas the least reported item is the performance of the employee. The result approves that only two attributes including the profitability of the banks and the total number of pages of the annual reports are significantly and positively associated with the level of human resource disclosure of banks. But the other attributes including length of service, size of the bank and total number of employees have no significant impact on HR disclosure.

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