1,720,965 research outputs found
The effect of the ownership concentration on earnings management. Empirical evidence from the Italian context
Full text linkThe numerous cases of business disruptions, involving opportunism and accounting fraud by shareholder, directors and managers, that have occurred in different countries over the past two decades along with institutional and context phenomena and with the rise of the 2008 financial crisis, have refocused the attention of academia, professionals and world policy makers on the disclosure processes used by companies and on corporate governance mechanisms. This paper, after a systematic description of the investigated issues – ownership structure, ownership concentrations and largest shareholders examines the relationship between ownership structure or concentrated ownership and earnings management in the Italian context, characterized by concentrated ownership and the dominance of the largest shareholder who exercises typically significant influences on management decisions directly or indirectly. Existing literature suggests, in an unequivocal way, the effect of the ownership structure on earnings management. According to some researchers, the ownership structure decreases the incentive to manage earnings. Others have the opposite opinion, they think ownership structure on earnings management provides the opportunity and incentive to manipulate earnings. Therefore, the main purpose of this paper is to analyse whether, in the Italian context, a firm’s ownership structure, measured with several variables, exacerbates or alleviates earnings management. Using a sample of 300 non-financial listed Italian firms from 2011 to 2013. We find that discretionary accruals, as a proxy for earnings management, is negatively related to ownership concentration and the second largest shareholder and positively related to first largest shareholder. The study’s results suggest that ownership concentration improve the quality of annual earnings, in a particular agency setting, by reducing the levels of earnings management
The impact of the EU non-financial information directive on environmental disclosure: evidence from Italian environmentally sensitive industries.
Full text linkPurpose: To determine whether to entrust the EU to create a new non-financial reporting framework or endorse the extant reporting framework developed by the Global Reporting Initiative (GRI), this study explored whether the mandatory implementation of the EU Directive positively impacted the GRI-based environmental disclosure.
Design/Methodology/Approach: We compared the pre-and post-EU Directive environmental disclosure of 16 Italian environmentally sensitive companies. We employed an extended coding scheme and developed a unique scoring system to compare the quantitative and qualitative changes in environmental disclosure.
Findings: The analysis showed that the quantity of environmental disclosure increased after the mandatory EU Directive adoption. The most significant change was observed regarding the disclosure topics explicitly required by the Italian legislature. Additionally, disclosure of soft information continued to prevail over that of hard information in the post-Directive period. While the Directive boosted the level of adherence to GRI standards, Italian companies disclosed information that could be easily mimicked (soft) instead of objective measures that could be verified (hard). In light of this evidence, the endorsement of extant GRI standards could be a valuable option for enhancing the comparability and transparency of environmental disclosure.
Originality: This study employed an original extended coding system and proposed related environmental disclosure indexes that allow monitoring changes in environmental disclosure over time. This study is one of the few that justifies the significant impact of regulation (here the EU Directive) on the increase in environmental disclosure and that uses hard and soft information typology to examine the quality of environmental disclosure
Industry 4.0 and Intellectual Capital: a state of the art
No full textThis paper aims to analyse the relationship between Industry 4.0 and Intellectual Capital (IC) in the existing literature to verify the state of the art. A Structured Literature Review (SLR) is useful to verify a state of the art, point out insights and critiques, highlight research gaps and develop future research agendas and questions. We have conducted a keyword search using journal databases like Scopus, Web of Sciences and Google Scholar. The preliminary results show significant attention by academics on the effects of Industry 4.0 on human capital (human resources). The selected studies are principally about the competencies of human capital 4.0, education, development, the readiness of the labour market, the social effects of change and adaptive management systems. The link between Industry 4.0 and the relational or structural capital is almost entirely unexplored. The review is limited by the databases accessed, the search criteria, method of searching, inclusion and exclusion criteria. There is no SLR about the relationship between Industry 4.0 and Intellectual Capital. Thus, the paper contributes to the literature by describing all that has been studied and by highlighting the topics, critiques, future research agendas and questions. Our goal is to contribute to advancing the knowledge on Industry 4.0 and its impact on IC
Gli effetti delle strategie di delisting societario sui meccanismi di governance e di creazione di valore aziendale. Analisi empiriche e esperienze a confronto
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Strategie di sviluppo aziendale, processi di corporate governance e creazione di valore. Teorie, analisi empiriche ed esperienze a confronto
No full textGoing Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
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