Meditari Accountancy ResearchTable of Contents for Meditari Accountancy Research. List of articles from the current issue, including Just Accepted (EarlyCite)https://www.emerald.com/insight/publication/issn/2049-372X/vol/32/iss/7?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestMeditari Accountancy ResearchEmerald Publishing LimitedMeditari Accountancy ResearchMeditari Accountancy Researchhttps://www.emerald.com/insight/proxy/containerImg?link=/resource/publication/journal/3d32d80126d037470ed0212fee37043d/urn:emeraldgroup.com:asset:id:binary:medar.cover.jpghttps://www.emerald.com/insight/publication/issn/2049-372X/vol/32/iss/7?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestIntegrating sustainability in management control systems: an exploratory study on Italian bankshttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-03-2023-1954/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestDrawing insights from institutional theory, this paper aims to examine whether and to what extent banks have reconfigured their management control systems (MCSs) in response to growing institutional pressures towards sustainability, understood as environmental, social and governance (ESG) issues. The authors conducted an exploratory study at the three largest Italian banking groups to shed light on changes made in MCSs to account for ESG issues. The analysis is based on 12 semi-structured interviews with managers from the sustainability and controls areas, as well as from other relevant operational areas particularly concerned with the integration process of ESG issues. Additionally, secondary data sources were used. The Malmi and Brown (2008) MCS framework, consisting of a package of five types of formal and informal control mechanisms, was used to structure and analyse the empirical data. The examined banks widely implemented numerous changes to their MCSs as a response to the heightened sustainability pressures from regulatory bodies and stakeholders. In particular, with the exception of action planning, the results show an extensive integration of ESG issues into the five control mechanisms of Malmi and Brown’s framework, namely, long-term planning, cybernetic, reward/compensation, administrative and cultural controls. By identifying the approaches banks followed in reconfiguring traditional MCSs, this research sheds light on how adequate MCSs can promote banks’ “sustainable behaviours”. The results can, thus, contribute to defining best practices on how MCSs can be redesigned to support the integration of ESG issues into the banks’ way of doing business. Overall, the findings support the theoretical assertion that institutional pressures influence the design of banks’ MCSs, and that both formal and informal controls are necessary to ensure a real engagement towards sustainability. More specifically, this study reveals that MCSs, by encompassing both formal and informal controls, are central to enabling banks to appropriately understand, plan and control the transition towards business models fully oriented to the integration of ESG issues. Thereby, this allows banks to effectively respond to the increased stakeholder demands around ESG concerns.Integrating sustainability in management control systems: an exploratory study on Italian banks
Paola Ferretti, Cristina Gonnella, Pierluigi Martino
Meditari Accountancy Research, Vol. 32, No. 7, pp.1-34

Drawing insights from institutional theory, this paper aims to examine whether and to what extent banks have reconfigured their management control systems (MCSs) in response to growing institutional pressures towards sustainability, understood as environmental, social and governance (ESG) issues.

The authors conducted an exploratory study at the three largest Italian banking groups to shed light on changes made in MCSs to account for ESG issues. The analysis is based on 12 semi-structured interviews with managers from the sustainability and controls areas, as well as from other relevant operational areas particularly concerned with the integration process of ESG issues. Additionally, secondary data sources were used. The Malmi and Brown (2008) MCS framework, consisting of a package of five types of formal and informal control mechanisms, was used to structure and analyse the empirical data.

The examined banks widely implemented numerous changes to their MCSs as a response to the heightened sustainability pressures from regulatory bodies and stakeholders. In particular, with the exception of action planning, the results show an extensive integration of ESG issues into the five control mechanisms of Malmi and Brown’s framework, namely, long-term planning, cybernetic, reward/compensation, administrative and cultural controls.

By identifying the approaches banks followed in reconfiguring traditional MCSs, this research sheds light on how adequate MCSs can promote banks’ “sustainable behaviours”. The results can, thus, contribute to defining best practices on how MCSs can be redesigned to support the integration of ESG issues into the banks’ way of doing business.

Overall, the findings support the theoretical assertion that institutional pressures influence the design of banks’ MCSs, and that both formal and informal controls are necessary to ensure a real engagement towards sustainability. More specifically, this study reveals that MCSs, by encompassing both formal and informal controls, are central to enabling banks to appropriately understand, plan and control the transition towards business models fully oriented to the integration of ESG issues. Thereby, this allows banks to effectively respond to the increased stakeholder demands around ESG concerns.

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Integrating sustainability in management control systems: an exploratory study on Italian banks10.1108/MEDAR-03-2023-1954Meditari Accountancy Research2024-01-18© 2024 Paola Ferretti, Cristina Gonnella and Pierluigi Martino.Paola FerrettiCristina GonnellaPierluigi MartinoMeditari Accountancy Research3272024-01-1810.1108/MEDAR-03-2023-1954https://www.emerald.com/insight/content/doi/10.1108/MEDAR-03-2023-1954/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Paola Ferretti, Cristina Gonnella and Pierluigi Martino.http://creativecommons.org/licences/by/4.0/legalcode
An institutionalist political-economy perspective on social and environmental accountinghttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-12-2023-2248/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this study is to contribute to the discussion surrounding the definition of accounting proposed by Carnegie et al. (2021a, 2021b) and further elaborated by Carnegie et al. (2023) from/under an institutionalist political-economy (IPE) based foundation and to specifically extend this approach to the arena of social and environmental accounting (SEA). By adopting an IPE approach to SEA, this study offers a critique of the use of the notion of capital to refer to nature and people in SEA frameworks and standards. A SEA framework based on the capabilities approach is proposed based on the concepts of human capabilities and global commons for the purpose of preserving the commons and enabling the flourishing of present and future generations. The proposed framework allows the engagement of accounting community, in particular SEA researchers, with and contribution to such well-established initiatives as the Planetary Boundaries framework and the human development reports initiative of the United Nations Development Programme. Based on the capability approach, this study applies Carnegie et al.’s (2023) framework to SEA. This new approach more attuned to the pursuit of sustainable human development and the sustainable development goals, may contribute to turning accounting into a major positive force through its impacts on the world, expressly upon organisations, people and nature.An institutionalist political-economy perspective on social and environmental accounting
Manuel Castelo Castelo Branco, Delfina Gomes, Adelaide Martins
Meditari Accountancy Research, Vol. 32, No. 7, pp.35-55

The purpose of this study is to contribute to the discussion surrounding the definition of accounting proposed by Carnegie et al. (2021a, 2021b) and further elaborated by Carnegie et al. (2023) from/under an institutionalist political-economy (IPE) based foundation and to specifically extend this approach to the arena of social and environmental accounting (SEA).

By adopting an IPE approach to SEA, this study offers a critique of the use of the notion of capital to refer to nature and people in SEA frameworks and standards.

A SEA framework based on the capabilities approach is proposed based on the concepts of human capabilities and global commons for the purpose of preserving the commons and enabling the flourishing of present and future generations.

The proposed framework allows the engagement of accounting community, in particular SEA researchers, with and contribution to such well-established initiatives as the Planetary Boundaries framework and the human development reports initiative of the United Nations Development Programme.

Based on the capability approach, this study applies Carnegie et al.’s (2023) framework to SEA. This new approach more attuned to the pursuit of sustainable human development and the sustainable development goals, may contribute to turning accounting into a major positive force through its impacts on the world, expressly upon organisations, people and nature.

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An institutionalist political-economy perspective on social and environmental accounting10.1108/MEDAR-12-2023-2248Meditari Accountancy Research2024-01-31© 2024 Manuel Castelo Castelo Branco, Delfina Gomes and Adelaide Martins.Manuel Castelo Castelo BrancoDelfina GomesAdelaide MartinsMeditari Accountancy Research3272024-01-3110.1108/MEDAR-12-2023-2248https://www.emerald.com/insight/content/doi/10.1108/MEDAR-12-2023-2248/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Manuel Castelo Castelo Branco, Delfina Gomes and Adelaide Martins.http://creativecommons.org/licences/by/4.0/legalcode
Intelligibility of communication with stakeholders after accounting system change: an exploratory data analysis of Italian universitieshttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-01-2021-1175/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to explore the intelligibility of communication with stakeholders as a result of accrual accounting adoption. It focuses on changes in the use of visual forms and the readability of text that occurred immediately after the adoption of accrual accounting in performance reports of Italian public universities. The authors collect the stakeholder section of performance reports published before and after accrual accounting adoption. Then, the authors use manual and computer-assisted textual analysis. Finally, the authors explore the data using principal component analysis and qualitative comparative analysis. This study demonstrates that switching from cash to accrual accounting provokes immediate changes in communication patterns. It confirms the significant reduction of readability and increase in visual forms after accruals accounting adoption. The results indicate that smaller universities especially put effort into increasing intelligibility while implementing a more complex accounting system. This study also finds a relation between the change in readability and the change in visual forms that are complementary, with the exception of several very large universities. The findings underline the possibility of neutralising the adverse effects of accounting reform associated with its complexity and difficulties in understanding by the use of visual forms and attention to the document’s readability. This paper adds a new dimension to the study of public sector accounting from the external stakeholder perspective. It provides further insight into the link between accrual accounting adoption and readability, together with the use of visual forms by universities.Intelligibility of communication with stakeholders after accounting system change: an exploratory data analysis of Italian universities
Justyna Fijałkowska, Dominika Hadro, Enrico Supino, Karol M. Klimczak
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to explore the intelligibility of communication with stakeholders as a result of accrual accounting adoption. It focuses on changes in the use of visual forms and the readability of text that occurred immediately after the adoption of accrual accounting in performance reports of Italian public universities.

The authors collect the stakeholder section of performance reports published before and after accrual accounting adoption. Then, the authors use manual and computer-assisted textual analysis. Finally, the authors explore the data using principal component analysis and qualitative comparative analysis.

This study demonstrates that switching from cash to accrual accounting provokes immediate changes in communication patterns. It confirms the significant reduction of readability and increase in visual forms after accruals accounting adoption. The results indicate that smaller universities especially put effort into increasing intelligibility while implementing a more complex accounting system. This study also finds a relation between the change in readability and the change in visual forms that are complementary, with the exception of several very large universities.

The findings underline the possibility of neutralising the adverse effects of accounting reform associated with its complexity and difficulties in understanding by the use of visual forms and attention to the document’s readability.

This paper adds a new dimension to the study of public sector accounting from the external stakeholder perspective. It provides further insight into the link between accrual accounting adoption and readability, together with the use of visual forms by universities.

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Intelligibility of communication with stakeholders after accounting system change: an exploratory data analysis of Italian universities10.1108/MEDAR-01-2021-1175Meditari Accountancy Research2023-12-05© 2023 Emerald Publishing LimitedJustyna FijałkowskaDominika HadroEnrico SupinoKarol M. KlimczakMeditari Accountancy Researchahead-of-printahead-of-print2023-12-0510.1108/MEDAR-01-2021-1175https://www.emerald.com/insight/content/doi/10.1108/MEDAR-01-2021-1175/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
The impact of audit committee attributes on integrated reporting quality: evidence from European companies listed on the STOXX Europe 600 indexhttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-01-2023-1883/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to shed light on the relationship between audit committee attributes and integrated reporting quality (IRQ). Data on a sample of 360 European firms selected from the STOXX Europe 600 index between 2010 and 2021 were used to test the model based on multiple regression for panel data to analyze the effect of audit committee attributes on IRQ. This paper considers generalized least squares (GLS) estimation for panel data models. The findings of this study confirm expectations concerning the impact of audit committee attributes on the IRQ. Indeed, audit committee independence and meetings have a significant positive impact on IRQ. However, no significant association is found between financial expertise and IRQ. The findings of this paper have significant implications for policymakers, who, through proper legislation, should encourage the formation of larger audit committees and ones with a higher percentage of independent members. They should also establish a minimum number of audit committee meetings per year. These regulations, which aim to increase the efficacy of audit committees’ supervisory and monitoring tasks, would promote corporate transparency and improve IRQ. This study supports the existing literature. First, it expands the scientific debate on IRQ. Second, unlike previous studies, which used more subjective methods to measure the degree of integrated reporting (IR), this study relied on the CGVS variable from the DataStream ASSET 4 Database. Third, the research is novel because it indicates the crucial role of internal assurance mechanisms in wide managerial reporting practices in European companies. The sample consisted of European firms only, whereas previous studies used a global sample. Finally, this study is based on recent data (2010–2021), while other studies covered the period between 2008 and 2013.The impact of audit committee attributes on integrated reporting quality: evidence from European companies listed on the STOXX Europe 600 index
Saida Belhouchet, Jamel Chouaibi
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to shed light on the relationship between audit committee attributes and integrated reporting quality (IRQ).

Data on a sample of 360 European firms selected from the STOXX Europe 600 index between 2010 and 2021 were used to test the model based on multiple regression for panel data to analyze the effect of audit committee attributes on IRQ. This paper considers generalized least squares (GLS) estimation for panel data models.

The findings of this study confirm expectations concerning the impact of audit committee attributes on the IRQ. Indeed, audit committee independence and meetings have a significant positive impact on IRQ. However, no significant association is found between financial expertise and IRQ.

The findings of this paper have significant implications for policymakers, who, through proper legislation, should encourage the formation of larger audit committees and ones with a higher percentage of independent members. They should also establish a minimum number of audit committee meetings per year. These regulations, which aim to increase the efficacy of audit committees’ supervisory and monitoring tasks, would promote corporate transparency and improve IRQ.

This study supports the existing literature. First, it expands the scientific debate on IRQ. Second, unlike previous studies, which used more subjective methods to measure the degree of integrated reporting (IR), this study relied on the CGVS variable from the DataStream ASSET 4 Database. Third, the research is novel because it indicates the crucial role of internal assurance mechanisms in wide managerial reporting practices in European companies. The sample consisted of European firms only, whereas previous studies used a global sample. Finally, this study is based on recent data (2010–2021), while other studies covered the period between 2008 and 2013.

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The impact of audit committee attributes on integrated reporting quality: evidence from European companies listed on the STOXX Europe 600 index10.1108/MEDAR-01-2023-1883Meditari Accountancy Research2024-03-11© 2024 Emerald Publishing LimitedSaida BelhouchetJamel ChouaibiMeditari Accountancy Researchahead-of-printahead-of-print2024-03-1110.1108/MEDAR-01-2023-1883https://www.emerald.com/insight/content/doi/10.1108/MEDAR-01-2023-1883/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Do female chief financial officers and female directors cooperate? Evidence from investment efficiencyhttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-01-2023-1884/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to examine whether the cooperation between female chief financial officers (CFO) and the proportion of female directors would impact investment efficiency. The investigation is grounded in the increasing number of female top managers globally and the notion that female tends to cooperate more with other female than with male. This study uses publicly listed firms in Bursa Malaysia from 2016 to 2020, which yielded a sample of 2,022 firm-year observations. The authors used multivariate ordinary least square regression to test the relationship, and to correct for the selection bias, the Heckman selection and PSM test were used. The authors find a positive relationship between female CFOs and investment efficiency. A higher proportion of female directors accentuates this result. The findings support the homophily argument that similar characteristics (gender) promote cooperation. This shows that cooperation between female CFOs and directors improves investment efficiency. The results suggest that the improvement in investment efficiency could relate to higher managerial discretion for female CFOs and their ability to collaborate with female directors. These results are robust to a series of additional endogeneity tests. The findings have important implications for policymakers and firms to encourage more appointments of females in top management positions. By highlighting the cooperation between female CFOs and female directors, this study contributes to the understanding that cooperation among females improves investment efficiency.Do female chief financial officers and female directors cooperate? Evidence from investment efficiency
Ismaanzira Ismail, Effiezal Aswadi Abdul Wahab
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to examine whether the cooperation between female chief financial officers (CFO) and the proportion of female directors would impact investment efficiency. The investigation is grounded in the increasing number of female top managers globally and the notion that female tends to cooperate more with other female than with male.

This study uses publicly listed firms in Bursa Malaysia from 2016 to 2020, which yielded a sample of 2,022 firm-year observations. The authors used multivariate ordinary least square regression to test the relationship, and to correct for the selection bias, the Heckman selection and PSM test were used.

The authors find a positive relationship between female CFOs and investment efficiency. A higher proportion of female directors accentuates this result. The findings support the homophily argument that similar characteristics (gender) promote cooperation. This shows that cooperation between female CFOs and directors improves investment efficiency. The results suggest that the improvement in investment efficiency could relate to higher managerial discretion for female CFOs and their ability to collaborate with female directors. These results are robust to a series of additional endogeneity tests. The findings have important implications for policymakers and firms to encourage more appointments of females in top management positions.

By highlighting the cooperation between female CFOs and female directors, this study contributes to the understanding that cooperation among females improves investment efficiency.

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Do female chief financial officers and female directors cooperate? Evidence from investment efficiency10.1108/MEDAR-01-2023-1884Meditari Accountancy Research2024-01-19© 2024 Emerald Publishing LimitedIsmaanzira IsmailEffiezal Aswadi Abdul WahabMeditari Accountancy Researchahead-of-printahead-of-print2024-01-1910.1108/MEDAR-01-2023-1884https://www.emerald.com/insight/content/doi/10.1108/MEDAR-01-2023-1884/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
The brain gain of corporate boards and green commitment: evidence from Chinahttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-02-2023-1924/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestForeign directors from developed nations are significant brain gains for Chinese firms because they improve board competency and board diversity. Therefore, the purpose of this study is to explore the relationship between foreign directors from developed countries on Chinese listed firms and firms’ green commitment. For the empirical analysis, first, this study applies ordinary least square regression and firm fixed model to explore the relationship between foreign directors and green commitment. For the endogeneity concerns, this study first added more control variable in the main model, then applied instrumental variable approach and propensity score matching technique. This study predicts and finds that percentage of foreign directors from developed countries on Chinese listed firms’ board positively enhances the firms’ green commitment. Furthermore, this study also finds that the positive relationship between foreign directors and firms’ green commitment is more significant when firms are in a low competitive industry, have no financial constraints and are overseas-listed. This study’s findings are robust after controlling for endogeneity concerns. This is new research on the impact of foreign directors on corporate green commitment.The brain gain of corporate boards and green commitment: evidence from China
Muhammad Jameel Hussain, Dongfang Nie, Adnan Ashraf
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

Foreign directors from developed nations are significant brain gains for Chinese firms because they improve board competency and board diversity. Therefore, the purpose of this study is to explore the relationship between foreign directors from developed countries on Chinese listed firms and firms’ green commitment.

For the empirical analysis, first, this study applies ordinary least square regression and firm fixed model to explore the relationship between foreign directors and green commitment. For the endogeneity concerns, this study first added more control variable in the main model, then applied instrumental variable approach and propensity score matching technique.

This study predicts and finds that percentage of foreign directors from developed countries on Chinese listed firms’ board positively enhances the firms’ green commitment. Furthermore, this study also finds that the positive relationship between foreign directors and firms’ green commitment is more significant when firms are in a low competitive industry, have no financial constraints and are overseas-listed. This study’s findings are robust after controlling for endogeneity concerns.

This is new research on the impact of foreign directors on corporate green commitment.

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The brain gain of corporate boards and green commitment: evidence from China10.1108/MEDAR-02-2023-1924Meditari Accountancy Research2024-01-16© 2023 Emerald Publishing LimitedMuhammad Jameel HussainDongfang NieAdnan AshrafMeditari Accountancy Researchahead-of-printahead-of-print2024-01-1610.1108/MEDAR-02-2023-1924https://www.emerald.com/insight/content/doi/10.1108/MEDAR-02-2023-1924/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Driving financial results is not the only priority! An exploration of the future role of chief financial officer: a grounded theory approachhttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-02-2023-1929/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to develop a conceptual framework for the role of chief financial officer (CFO) in an ever-changing environment. As previous research focused on responding to specific crises, there have been theoretical and practical gaps in the role of CFO. The study's goal is to fill a critical gap by developing a comprehensive and integrated set of roles to assist the CFO in a constantly changing environment. Using a grounded theory approach, semi-structured interviews and observations were conducted with 21 CFOs from various industries in Thailand, including foreign multinational corporations and domestic companies with international operations. CFOs were asked how they frame their roles in the face of an ever-changing environment and how they prepare for the future. The iCFO model is developed, which identifies the critical “core” roles of the CFO in securing the business foundation, as well as the “future opportunities” roles that function as growth engines for long-term business strength. The research delves into the importance of integrity, ethical mindset and corporate governance in the role of the CFO. The iCFO model is designed to help guide future research and provide practical applications for CFOs in both domestic and international contexts. The term “core” refers to the CFO’s primary responsibilities, which include driving profitability, managing risks and optimizing business performance. The “future opportunities” component focuses on the roles that CFOs can play in strengthening the future of business by optimizing investment efficiency, driving digital transformation and being the CEO’s business partner. The findings also emphasized “integrity,” which must encompass all decisions, actions or recommendations made by the CFO. The study offers unique perspectives on an emerging economy, providing new insights. Through interviews with 21 CFOs, it contributes empirical evidence on the development of roles in accounting and finance, emphasizing good governance practices. The findings highlight the integrated role of the CFO and their self-reflection on their value within the company. Significantly, the study's implications are relevant and applicable to a global audience, particularly in developing economies that prioritize growth. Future studies could incorporate integrated thinking into the iCFO model to address social, environmental and economic factors, making it more universally relevant. Additionally, exploring the adoption of the chief value officer context in developing markets could enable CFOs to expand their focus beyond financial metrics, embracing a comprehensive approach to value creation. By integrating these concepts into the iCFO model, CFOs can effectively drive sustainable and impactful business outcomes on a global scale.Driving financial results is not the only priority! An exploration of the future role of chief financial officer: a grounded theory approach
Manoj Chatpibal, Wornchanok Chaiyasoonthorn, Singha Chaveesuk
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to develop a conceptual framework for the role of chief financial officer (CFO) in an ever-changing environment. As previous research focused on responding to specific crises, there have been theoretical and practical gaps in the role of CFO. The study's goal is to fill a critical gap by developing a comprehensive and integrated set of roles to assist the CFO in a constantly changing environment.

Using a grounded theory approach, semi-structured interviews and observations were conducted with 21 CFOs from various industries in Thailand, including foreign multinational corporations and domestic companies with international operations. CFOs were asked how they frame their roles in the face of an ever-changing environment and how they prepare for the future.

The iCFO model is developed, which identifies the critical “core” roles of the CFO in securing the business foundation, as well as the “future opportunities” roles that function as growth engines for long-term business strength. The research delves into the importance of integrity, ethical mindset and corporate governance in the role of the CFO. The iCFO model is designed to help guide future research and provide practical applications for CFOs in both domestic and international contexts. The term “core” refers to the CFO’s primary responsibilities, which include driving profitability, managing risks and optimizing business performance. The “future opportunities” component focuses on the roles that CFOs can play in strengthening the future of business by optimizing investment efficiency, driving digital transformation and being the CEO’s business partner. The findings also emphasized “integrity,” which must encompass all decisions, actions or recommendations made by the CFO.

The study offers unique perspectives on an emerging economy, providing new insights. Through interviews with 21 CFOs, it contributes empirical evidence on the development of roles in accounting and finance, emphasizing good governance practices. The findings highlight the integrated role of the CFO and their self-reflection on their value within the company. Significantly, the study's implications are relevant and applicable to a global audience, particularly in developing economies that prioritize growth. Future studies could incorporate integrated thinking into the iCFO model to address social, environmental and economic factors, making it more universally relevant. Additionally, exploring the adoption of the chief value officer context in developing markets could enable CFOs to expand their focus beyond financial metrics, embracing a comprehensive approach to value creation. By integrating these concepts into the iCFO model, CFOs can effectively drive sustainable and impactful business outcomes on a global scale.

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Driving financial results is not the only priority! An exploration of the future role of chief financial officer: a grounded theory approach10.1108/MEDAR-02-2023-1929Meditari Accountancy Research2023-09-19© 2023 Emerald Publishing LimitedManoj ChatpibalWornchanok ChaiyasoonthornSingha ChaveesukMeditari Accountancy Researchahead-of-printahead-of-print2023-09-1910.1108/MEDAR-02-2023-1929https://www.emerald.com/insight/content/doi/10.1108/MEDAR-02-2023-1929/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Comprehensive board composition and corporate social responsibility disclosure: a case of Jordan before and after the Arab Spring crisishttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-03-2023-1948/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this paper is to examine the impact of social movements engendered by the Arab Spring crisis on the relationship between corporate social responsibility disclosure (CSRD) and corporate governance attributes, particularly board composition, considering the importance of governance after the Arab Spring event. Content analysis was used to examine the extent and nature of CSRD in annual reports of Jordanian companies listed on the Amman Stock Exchange covering the period 2009–2016. A dynamic regression model using panel data is then undertaken for a sample of 114 listed companies over the period to analyse the potential impact of board composition on the level of CSRD. The results reveal that there was a significant increase in the level of CSRD post-the Arab Spring crisis; and that governance appears to be a key driver. Specifically, board age, directors educated in business and/or accounting-related fields and foreign members are found to have a significant positive relationship with CSRD. Looking at the Arab region pre- and after the Arab Spring helps to complete the global picture of how company governance can lead to improved CSR performance. Specifically, this region has been behind in developing rules and codes that include CSR. The results show that having a diverse board, with directors with expertise specific to the context, increases the effectiveness of stakeholder management through CSRD. The results, therefore, offer valuable insights for companies, policymakers and for the development of regulations.Comprehensive board composition and corporate social responsibility disclosure: a case of Jordan before and after the Arab Spring crisis
Esam Emad Ghassab, Carol Tilt, Kathyayini Kathy Rao
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this paper is to examine the impact of social movements engendered by the Arab Spring crisis on the relationship between corporate social responsibility disclosure (CSRD) and corporate governance attributes, particularly board composition, considering the importance of governance after the Arab Spring event.

Content analysis was used to examine the extent and nature of CSRD in annual reports of Jordanian companies listed on the Amman Stock Exchange covering the period 2009–2016. A dynamic regression model using panel data is then undertaken for a sample of 114 listed companies over the period to analyse the potential impact of board composition on the level of CSRD.

The results reveal that there was a significant increase in the level of CSRD post-the Arab Spring crisis; and that governance appears to be a key driver. Specifically, board age, directors educated in business and/or accounting-related fields and foreign members are found to have a significant positive relationship with CSRD.

Looking at the Arab region pre- and after the Arab Spring helps to complete the global picture of how company governance can lead to improved CSR performance. Specifically, this region has been behind in developing rules and codes that include CSR. The results show that having a diverse board, with directors with expertise specific to the context, increases the effectiveness of stakeholder management through CSRD. The results, therefore, offer valuable insights for companies, policymakers and for the development of regulations.

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Comprehensive board composition and corporate social responsibility disclosure: a case of Jordan before and after the Arab Spring crisis10.1108/MEDAR-03-2023-1948Meditari Accountancy Research2024-01-18© 2024 Emerald Publishing LimitedEsam Emad GhassabCarol TiltKathyayini Kathy RaoMeditari Accountancy Researchahead-of-printahead-of-print2024-01-1810.1108/MEDAR-03-2023-1948https://www.emerald.com/insight/content/doi/10.1108/MEDAR-03-2023-1948/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Mandatory CSR regulations and social disclosure: the mediating role of the CSR committeehttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-03-2023-1950/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to examine the association between mandatory corporate social responsibility (CSR) regulations (CSR mandate) and social disclosures (SOCDS) in India. It also investigates whether CSR committees mediate the relationship between CSR mandate and SOCDS. Furthermore, this paper explores how business group (BG) affiliation moderates CSR committee quality and SOCDS. This study uses a data set of 5,345 observations from the Bombay stock exchange (BSE)-listed firms over 10 years (2011–2020) to examine the research questions. Baron and Kenny’s (1986) three-step model is estimated to examine the mediating role of CSR committees on the relationship between CSR mandate and SOCDS. The study reveals that the CSR mandate positively impacts SOCDS in India due to coercive pressures. CSR committees mediate this relationship, with higher CSR committee quality leading to increased SOCDS. Furthermore, the authors report that SOCDS in India is positively related to CSR committee quality, and this relationship is stronger for BG firms. Finally, the supplementary analysis reveals that promoting CSR committee quality enhances firms’ likelihood of meeting CSR mandatory spending and actual CSR spending in India. This research contributes to the academic literature by shedding light on the intricate dynamics of CSR mandates, CSR committees and SOCDS in emerging economies. Notably, the authors identify the previously unexplored mediation role of CSR committees in the link between CSR mandates and SOCDS. The creation of a composite index that measures complementary CSR committee attributes allows us to undertake a novel assessment of CSR committee quality. An examination of the moderating influence of BG affiliation documents the importance of CSR committee quality, particularly in governance, for enhancing SOCDS transparency within BG firms.Mandatory CSR regulations and social disclosure: the mediating role of the CSR committee
Dhanushika Samarawickrama, Pallab Kumar Biswas, Helen Roberts
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to examine the association between mandatory corporate social responsibility (CSR) regulations (CSR mandate) and social disclosures (SOCDS) in India. It also investigates whether CSR committees mediate the relationship between CSR mandate and SOCDS. Furthermore, this paper explores how business group (BG) affiliation moderates CSR committee quality and SOCDS.

This study uses a data set of 5,345 observations from the Bombay stock exchange (BSE)-listed firms over 10 years (2011–2020) to examine the research questions. Baron and Kenny’s (1986) three-step model is estimated to examine the mediating role of CSR committees on the relationship between CSR mandate and SOCDS.

The study reveals that the CSR mandate positively impacts SOCDS in India due to coercive pressures. CSR committees mediate this relationship, with higher CSR committee quality leading to increased SOCDS. Furthermore, the authors report that SOCDS in India is positively related to CSR committee quality, and this relationship is stronger for BG firms. Finally, the supplementary analysis reveals that promoting CSR committee quality enhances firms’ likelihood of meeting CSR mandatory spending and actual CSR spending in India.

This research contributes to the academic literature by shedding light on the intricate dynamics of CSR mandates, CSR committees and SOCDS in emerging economies. Notably, the authors identify the previously unexplored mediation role of CSR committees in the link between CSR mandates and SOCDS. The creation of a composite index that measures complementary CSR committee attributes allows us to undertake a novel assessment of CSR committee quality. An examination of the moderating influence of BG affiliation documents the importance of CSR committee quality, particularly in governance, for enhancing SOCDS transparency within BG firms.

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Mandatory CSR regulations and social disclosure: the mediating role of the CSR committee10.1108/MEDAR-03-2023-1950Meditari Accountancy Research2024-01-15© 2024 Emerald Publishing LimitedDhanushika SamarawickramaPallab Kumar BiswasHelen RobertsMeditari Accountancy Researchahead-of-printahead-of-print2024-01-1510.1108/MEDAR-03-2023-1950https://www.emerald.com/insight/content/doi/10.1108/MEDAR-03-2023-1950/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Corporate reputation, cost of capital and the moderating role of economic development: international evidencehttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-03-2023-1951/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of the study is to examine the impact of corporate reputation (hereafter CR) and the degree of economic development on firms’ cost of capital remains unresolved. This study addresses these issues. Using a global sample across 20 countries, the study investigates the discrete and joint effects of CR and jurisdictional economic development on the cost of equity (COE) and cost of debt (COD) capital. The analysis encompasses a dual data set, comprising 1,308 observations for COE and 1,223 observations for COD, allowing for a comprehensive exploration of these dynamics. The findings indicate that CR leads to a reduction in the cost of capital for reputable firms. Nevertheless, the extent of this decrease varies per type of capital and firm’s reputation level and is contingent upon the economic development level within the firm’s jurisdiction. Particularly noteworthy is the moderating effect of economic development on CR, which shows that COE capital tends to be lower for reputable firms operating in economically developed jurisdictions. Albeit, this is not the case for COD capital for reputable firms in similarly developed jurisdictions. This study illustrates that effective CR management, aimed at reducing the cost of capital, necessitates a combination of the firm’s unique competitive advantage and the economic development context of its jurisdiction to truly achieve its intended goal. To the best of the authors’ knowledge, this is the first global study to explore the impact of CR on both COE and COD capital. Furthermore, this study is primarily towards understanding the moderating role of economic development in the relationship between CR and cost of capital.Corporate reputation, cost of capital and the moderating role of economic development: international evidence
Muhammad Nurul Houqe, Habib Zaman Khan, Olayinka Moses, Arun Elias
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of the study is to examine the impact of corporate reputation (hereafter CR) and the degree of economic development on firms’ cost of capital remains unresolved. This study addresses these issues.

Using a global sample across 20 countries, the study investigates the discrete and joint effects of CR and jurisdictional economic development on the cost of equity (COE) and cost of debt (COD) capital. The analysis encompasses a dual data set, comprising 1,308 observations for COE and 1,223 observations for COD, allowing for a comprehensive exploration of these dynamics.

The findings indicate that CR leads to a reduction in the cost of capital for reputable firms. Nevertheless, the extent of this decrease varies per type of capital and firm’s reputation level and is contingent upon the economic development level within the firm’s jurisdiction. Particularly noteworthy is the moderating effect of economic development on CR, which shows that COE capital tends to be lower for reputable firms operating in economically developed jurisdictions. Albeit, this is not the case for COD capital for reputable firms in similarly developed jurisdictions.

This study illustrates that effective CR management, aimed at reducing the cost of capital, necessitates a combination of the firm’s unique competitive advantage and the economic development context of its jurisdiction to truly achieve its intended goal.

To the best of the authors’ knowledge, this is the first global study to explore the impact of CR on both COE and COD capital. Furthermore, this study is primarily towards understanding the moderating role of economic development in the relationship between CR and cost of capital.

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Corporate reputation, cost of capital and the moderating role of economic development: international evidence10.1108/MEDAR-03-2023-1951Meditari Accountancy Research2024-01-08© 2023 Emerald Publishing LimitedMuhammad Nurul HouqeHabib Zaman KhanOlayinka MosesArun EliasMeditari Accountancy Researchahead-of-printahead-of-print2024-01-0810.1108/MEDAR-03-2023-1951https://www.emerald.com/insight/content/doi/10.1108/MEDAR-03-2023-1951/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Sustainability management accounting – enabling macro-level sustainability transformation towards the United Nations Sustainable Development Goalshttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-03-2023-1952/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestBusiness has a critical part to play in transforming the global economy and society to achieve sustainable development. Many granular sustainability accounting and management tools have been offered. To systematize these piecemeal developments, this paper aims to develop a framework for analysis of the potential role of sustainability management accounting (SMA). The key challenge addressed is how SMA could be extended to support future-oriented, long-term, pro-active management of multiple issues to contribute towards strong sustainable development at the macro-economy level. This conceptual paper examines SMA within a multi-level, context-action-transformation framework which can move organizations and society towards sustainability. Based on normative stakeholder theory, including concern for mainstreaming marginalized stakeholders, the paper discusses the role of SMA and how it can contribute necessary information to sustainable development of the company and beyond its boundaries. Guided by a SMA framework linking context, action and transformation and normative stakeholder theory, which considers all stakeholders, the paper shows how the present lack of progress towards macro-level sustainable development can be addressed. This requires a focus on measuring and assessing positive impacts and forward-looking, long-term and proactive management of multiple sustainability issues as typified by the Sustainable Development Goals (SDGs). The paper distinguishes between two aspects of SMA – a focus on reducing unsustainability and a focus on transformations towards sustainability. It is observed that there is insufficient emphasis on the latter at present if SMA is to provide comprehensive support to achieving the SDGs. A set of supportive tools is presented as a guide to practice and future developments. The paper considers how SMA can enable and support transformations towards sustainability at the macro- and meso-level. Different transformational challenges and opportunities are discussed. In particular, the need to balance consideration of time, proactivity and multiplicity, as highlighted in the SDGs, is identified as the central way forward for SMA.Sustainability management accounting – enabling macro-level sustainability transformation towards the United Nations Sustainable Development Goals
Katherine L. Christ, Samanthi Dijkstra-Silva, Roger L. Burritt, Stefan Schaltegger
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

Business has a critical part to play in transforming the global economy and society to achieve sustainable development. Many granular sustainability accounting and management tools have been offered. To systematize these piecemeal developments, this paper aims to develop a framework for analysis of the potential role of sustainability management accounting (SMA). The key challenge addressed is how SMA could be extended to support future-oriented, long-term, pro-active management of multiple issues to contribute towards strong sustainable development at the macro-economy level.

This conceptual paper examines SMA within a multi-level, context-action-transformation framework which can move organizations and society towards sustainability. Based on normative stakeholder theory, including concern for mainstreaming marginalized stakeholders, the paper discusses the role of SMA and how it can contribute necessary information to sustainable development of the company and beyond its boundaries.

Guided by a SMA framework linking context, action and transformation and normative stakeholder theory, which considers all stakeholders, the paper shows how the present lack of progress towards macro-level sustainable development can be addressed. This requires a focus on measuring and assessing positive impacts and forward-looking, long-term and proactive management of multiple sustainability issues as typified by the Sustainable Development Goals (SDGs).

The paper distinguishes between two aspects of SMA – a focus on reducing unsustainability and a focus on transformations towards sustainability. It is observed that there is insufficient emphasis on the latter at present if SMA is to provide comprehensive support to achieving the SDGs. A set of supportive tools is presented as a guide to practice and future developments.

The paper considers how SMA can enable and support transformations towards sustainability at the macro- and meso-level. Different transformational challenges and opportunities are discussed. In particular, the need to balance consideration of time, proactivity and multiplicity, as highlighted in the SDGs, is identified as the central way forward for SMA.

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Sustainability management accounting – enabling macro-level sustainability transformation towards the United Nations Sustainable Development Goals10.1108/MEDAR-03-2023-1952Meditari Accountancy Research2023-11-06© 2023 Emerald Publishing LimitedKatherine L. ChristSamanthi Dijkstra-SilvaRoger L. BurrittStefan SchalteggerMeditari Accountancy Researchahead-of-printahead-of-print2023-11-0610.1108/MEDAR-03-2023-1952https://www.emerald.com/insight/content/doi/10.1108/MEDAR-03-2023-1952/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Exploring stakeholder perceptions of tax reform failures and their proposed solutions: a developing country perspectivehttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-03-2023-1961/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to examine why tax reforms fail and explores how tax collection can be improved within a developing country context. Data comprise 28 semi-structured interviews with taxpayers, tax experts and tax authority personnel based in Pakistan. The results are analysed using a combined lens of taxpayer trust and tax agencies’ capabilities. Tax reforms failed to build taxpayers’ trust and tax agencies’ capabilities. Building trust is challenging and demands extensive ongoing engagement with taxpayers while yielding gradual permanent results. This requires enhancing confidence in government; educating taxpayers; removing complexities; introducing transparency and accountability in tax agencies’ operations and the tax system; promoting procedural and distributive justice; and reversing perceptions of corruption through reconciliation and stakeholder inclusivity. Developing tax agencies’ capabilities requires upgrading outdated technologies, systems and processes; implementing governance and organisational reforms; introducing an oversight board; and recruiting and training skilled professionals. The findings can assist policymakers and tax collection authorities in understanding why tax reforms fail and identifying potential solutions. This study contributes to the emerging literature by exploring tax administration failures in developing countries. It contributes to the literature by engaging stakeholders to understand why reforms fail and potential solutions to stimulate tax revenues.Exploring stakeholder perceptions of tax reform failures and their proposed solutions: a developing country perspective
Arshad Hasan, Naeem Sheikh, Muhammad Bilal Farooq
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to examine why tax reforms fail and explores how tax collection can be improved within a developing country context.

Data comprise 28 semi-structured interviews with taxpayers, tax experts and tax authority personnel based in Pakistan. The results are analysed using a combined lens of taxpayer trust and tax agencies’ capabilities.

Tax reforms failed to build taxpayers’ trust and tax agencies’ capabilities. Building trust is challenging and demands extensive ongoing engagement with taxpayers while yielding gradual permanent results. This requires enhancing confidence in government; educating taxpayers; removing complexities; introducing transparency and accountability in tax agencies’ operations and the tax system; promoting procedural and distributive justice; and reversing perceptions of corruption through reconciliation and stakeholder inclusivity. Developing tax agencies’ capabilities requires upgrading outdated technologies, systems and processes; implementing governance and organisational reforms; introducing an oversight board; and recruiting and training skilled professionals.

The findings can assist policymakers and tax collection authorities in understanding why tax reforms fail and identifying potential solutions.

This study contributes to the emerging literature by exploring tax administration failures in developing countries. It contributes to the literature by engaging stakeholders to understand why reforms fail and potential solutions to stimulate tax revenues.

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Exploring stakeholder perceptions of tax reform failures and their proposed solutions: a developing country perspective10.1108/MEDAR-03-2023-1961Meditari Accountancy Research2023-07-12© 2023 Emerald Publishing LimitedArshad HasanNaeem SheikhMuhammad Bilal FarooqMeditari Accountancy Researchahead-of-printahead-of-print2023-07-1210.1108/MEDAR-03-2023-1961https://www.emerald.com/insight/content/doi/10.1108/MEDAR-03-2023-1961/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Sustainable development and First Nations values: a multidimensional accounting approach for mining proposalshttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-04-2023-1986/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this study is to examine the extent to which using accounting as a multidimensional practice that encompasses technical, social and moral dimensions facilitates the instigation and advancement of a culture of sustainable development. A qualitative approach was used to analyse the case of Waratah Coal Pty Ltd vs Youth Verdict Ltd – a dispute over a lease to establish a coal mine. The study draws on Carnegie et al.’s (2021a, 2021b) multidimensional definition of accounting and the Carnegie et al.’s (2023) framework for analysis to explore how different parties drew on accounting concepts to support their position over the sustainability of the mining lease proposal. A multidimensional perspective on accounting appears to have clear transformative potential and can be used to champion a culture of sustainable development. This approach also has broad societal, environmental and moral implications that transcend Western financial metrics. This study shows that relying solely on accounting as a technical practice to pursue economic benefits can result in contested arguments. Overall, this analysis illustrates how the wider public, and notably First Nations communities, might challenge accounting methodologies that marginalise cultural and social narratives. This paper expands accounting research by demonstrating how fully embracing accounting’s capacities can create a space for hearing multiple voices, including those silenced by Western accounting practices. Specifically, this study presents a unique case in which the authors incorporate the voices and views of those affected by accounting-based decisions.Sustainable development and First Nations values: a multidimensional accounting approach for mining proposals
Sanja Pupovac, Mona Nikidehaghani
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this study is to examine the extent to which using accounting as a multidimensional practice that encompasses technical, social and moral dimensions facilitates the instigation and advancement of a culture of sustainable development.

A qualitative approach was used to analyse the case of Waratah Coal Pty Ltd vs Youth Verdict Ltd – a dispute over a lease to establish a coal mine. The study draws on Carnegie et al.’s (2021a, 2021b) multidimensional definition of accounting and the Carnegie et al.’s (2023) framework for analysis to explore how different parties drew on accounting concepts to support their position over the sustainability of the mining lease proposal.

A multidimensional perspective on accounting appears to have clear transformative potential and can be used to champion a culture of sustainable development. This approach also has broad societal, environmental and moral implications that transcend Western financial metrics. This study shows that relying solely on accounting as a technical practice to pursue economic benefits can result in contested arguments. Overall, this analysis illustrates how the wider public, and notably First Nations communities, might challenge accounting methodologies that marginalise cultural and social narratives.

This paper expands accounting research by demonstrating how fully embracing accounting’s capacities can create a space for hearing multiple voices, including those silenced by Western accounting practices. Specifically, this study presents a unique case in which the authors incorporate the voices and views of those affected by accounting-based decisions.

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Sustainable development and First Nations values: a multidimensional accounting approach for mining proposals10.1108/MEDAR-04-2023-1986Meditari Accountancy Research2024-02-16© 2024 Emerald Publishing LimitedSanja PupovacMona NikidehaghaniMeditari Accountancy Researchahead-of-printahead-of-print2024-02-1610.1108/MEDAR-04-2023-1986https://www.emerald.com/insight/content/doi/10.1108/MEDAR-04-2023-1986/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Board structure, firm performance variability and national culturehttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-05-2022-1684/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of the study is to examine the relation between board structure and firm performance variability in an international setting. The authors further explore the effect of national culture in shaping such relations. The authors’ international sample contains 4,911 firms across 49 countries over the 2002–2017 period. The authors use national culture values on individualism and power distance developed by Hofstede (1980, 2001, 2011). The authors focus on within-firm, over-time variability of firm performance and estimate multivariate linear regressions with fixed effects. The authors address the endogeneity concern using the instrumental variable approach, and the authors’ results are robust to alternative measures of variables and different subsamples. The authors find that firms with larger board size, greater board independence and less powerful CEOs have less variable performance. Individualism has a magnifying effect while power distance has a mitigating effect in shaping such relations. To the best of the authors’ knowledge, this study is among the first to answer the call of Adams, Hermalin and Weisbach (2010) for research on corporate boards in an international setting. It is also one of the few studies which examine the variability of firm performance, while the majority of existing literature focuses on the level of firm performance. Most importantly, to the best of the authors’ knowledge, this study is the first to explore the role of national culture in shaping boardroom interactions that affect the decision-making process of corporate boards, which, in turn, affects firm performance variability.Board structure, firm performance variability and national culture
Peng Huang, Yue Lu
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of the study is to examine the relation between board structure and firm performance variability in an international setting. The authors further explore the effect of national culture in shaping such relations.

The authors’ international sample contains 4,911 firms across 49 countries over the 2002–2017 period. The authors use national culture values on individualism and power distance developed by Hofstede (1980, 2001, 2011). The authors focus on within-firm, over-time variability of firm performance and estimate multivariate linear regressions with fixed effects. The authors address the endogeneity concern using the instrumental variable approach, and the authors’ results are robust to alternative measures of variables and different subsamples.

The authors find that firms with larger board size, greater board independence and less powerful CEOs have less variable performance. Individualism has a magnifying effect while power distance has a mitigating effect in shaping such relations.

To the best of the authors’ knowledge, this study is among the first to answer the call of Adams, Hermalin and Weisbach (2010) for research on corporate boards in an international setting. It is also one of the few studies which examine the variability of firm performance, while the majority of existing literature focuses on the level of firm performance. Most importantly, to the best of the authors’ knowledge, this study is the first to explore the role of national culture in shaping boardroom interactions that affect the decision-making process of corporate boards, which, in turn, affects firm performance variability.

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Board structure, firm performance variability and national culture10.1108/MEDAR-05-2022-1684Meditari Accountancy Research2023-07-31© 2023 Emerald Publishing LimitedPeng HuangYue LuMeditari Accountancy Researchahead-of-printahead-of-print2023-07-3110.1108/MEDAR-05-2022-1684https://www.emerald.com/insight/content/doi/10.1108/MEDAR-05-2022-1684/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Effect of female representation in audit committees on non-audit fees: evidence from Chinahttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-05-2023-1996/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to investigate whether gender diversity in audit committees affects the purchase of nonaudit services in China. Results from family and nonfamily firms are compared and the critical mass participation of females are further examined. The sample comprises 1,834 Chinese listed companies from 2012 to 2021, among which 910 are family firms. The Heckman (1979) two-stage model is used to mitigate the potential endogeneity issue in the selection of gender diversity. Propensity score matching is also used to further alleviate the endogeneity problem in relation to family firms. Results show a significant and negative correlation between the gender diversity in audit committees and nonaudit service fees. This association is more apparent in nonfamily than in family firms. Findings are consistent and robust to endogeneity tests and sensitivity analyses. The analysis of critical mass and symbolic participation shows that three female directors can more significantly restrain nonaudit fees than one to two females on the board. This study contributes to literature on resource dependence theory, which posits that audit committees help enterprises establish contact with auditors, improve the company legitimacy, assist in communication and provide relevant expertise. This study also relates to agency theory, which holds that differences in the severity of types I and II agency problems between family and nonfamily firms lead to differences in auditor selection and related costs. Extending from previous research on the relation between the gender diversity in audit committees and nonaudit fees, the present study delves into this connection within the context of China, an emerging economy. As a result, this investigation offers novel insights and expands upon current knowledge. In addition, the correlation between the gender diversity of audit committees and nonaudit fees is explored for family and nonfamily firms.Effect of female representation in audit committees on non-audit fees: evidence from China
Md Jahidur Rahman, Hongtao Zhu, Yiling Zhang, Md Moazzem Hossain
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to investigate whether gender diversity in audit committees affects the purchase of nonaudit services in China. Results from family and nonfamily firms are compared and the critical mass participation of females are further examined.

The sample comprises 1,834 Chinese listed companies from 2012 to 2021, among which 910 are family firms. The Heckman (1979) two-stage model is used to mitigate the potential endogeneity issue in the selection of gender diversity. Propensity score matching is also used to further alleviate the endogeneity problem in relation to family firms.

Results show a significant and negative correlation between the gender diversity in audit committees and nonaudit service fees. This association is more apparent in nonfamily than in family firms. Findings are consistent and robust to endogeneity tests and sensitivity analyses. The analysis of critical mass and symbolic participation shows that three female directors can more significantly restrain nonaudit fees than one to two females on the board.

This study contributes to literature on resource dependence theory, which posits that audit committees help enterprises establish contact with auditors, improve the company legitimacy, assist in communication and provide relevant expertise. This study also relates to agency theory, which holds that differences in the severity of types I and II agency problems between family and nonfamily firms lead to differences in auditor selection and related costs.

Extending from previous research on the relation between the gender diversity in audit committees and nonaudit fees, the present study delves into this connection within the context of China, an emerging economy. As a result, this investigation offers novel insights and expands upon current knowledge. In addition, the correlation between the gender diversity of audit committees and nonaudit fees is explored for family and nonfamily firms.

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Effect of female representation in audit committees on non-audit fees: evidence from China10.1108/MEDAR-05-2023-1996Meditari Accountancy Research2024-01-23© 2024 Emerald Publishing LimitedMd Jahidur RahmanHongtao ZhuYiling ZhangMd Moazzem HossainMeditari Accountancy Researchahead-of-printahead-of-print2024-01-2310.1108/MEDAR-05-2023-1996https://www.emerald.com/insight/content/doi/10.1108/MEDAR-05-2023-1996/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
The disclosure of climate-related risks and opportunities in financial statements: the UK’s FTSE 100https://www.emerald.com/insight/content/doi/10.1108/MEDAR-05-2023-1998/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to explore current trends in how companies disclose climate-related risks and opportunities in their financial statements. As part of the authors’ analysis, they examine: whether forward-looking assumptions and judgements are typically considered in reporting climate-related risks/opportunities; whether there are differences in the reporting practices of firms in carbon-intensive industries versus non-carbon-intensive industries; and whether negative media reports have an influence on the levels of disclosure a firm makes. The authors chose content analysis as their methodology and examined the financial statements published by firms listed on the UK’s FTSE 100 between 2016 and 2020. This analysis is framed by Suchman’s three dimensions of legitimacy, being pragmatic, cognitive and moral. Climate-related disclosures in the notes and financial accounts of these firms did increase over the period. Yet, overall, the level the disclosures was inadequate and the quality was inconsistent. From this, the authors conclude that pragmatic legitimacy is not a particularly strong driving factor in compelling organisations to disclose climate-related information. The firms in carbon-intensive industries do provide greater levels of disclosure, including both qualitative and quantitative (monetary) content, which is consistent with cognitive legitimacy. However, from a moral legitimacy perspective, this study finds that firms did not adapt responsively to negative media coverage as a way of reflecting their accountability to broader public norms and values. Overall, this analysis suggests that regulatory enforcement and a systematic reporting framework with adequate guidance is going to be critical to developing transparent climate-related reporting in future. This paper contributes to existing studies on climate-related disclosures, which have mainly examined the ‘front-half’ of annual reports. Conversely, this study aims to shed light on these practices in the “back-half” of these reports, exploring the underlying reasons for reporting climate-related risks and opportunities in financial accounts. The authors’ insights into the current disclosure practices make a theoretical contribution to the literature. Practitioners can also draw on these insights to improve how they report on climate-related risks and opportunities in their financial statements.The disclosure of climate-related risks and opportunities in financial statements: the UK’s FTSE 100
Zahra Borghei, Martina Linnenluecke, Binh Bui
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to explore current trends in how companies disclose climate-related risks and opportunities in their financial statements. As part of the authors’ analysis, they examine: whether forward-looking assumptions and judgements are typically considered in reporting climate-related risks/opportunities; whether there are differences in the reporting practices of firms in carbon-intensive industries versus non-carbon-intensive industries; and whether negative media reports have an influence on the levels of disclosure a firm makes.

The authors chose content analysis as their methodology and examined the financial statements published by firms listed on the UK’s FTSE 100 between 2016 and 2020. This analysis is framed by Suchman’s three dimensions of legitimacy, being pragmatic, cognitive and moral.

Climate-related disclosures in the notes and financial accounts of these firms did increase over the period. Yet, overall, the level the disclosures was inadequate and the quality was inconsistent. From this, the authors conclude that pragmatic legitimacy is not a particularly strong driving factor in compelling organisations to disclose climate-related information. The firms in carbon-intensive industries do provide greater levels of disclosure, including both qualitative and quantitative (monetary) content, which is consistent with cognitive legitimacy. However, from a moral legitimacy perspective, this study finds that firms did not adapt responsively to negative media coverage as a way of reflecting their accountability to broader public norms and values. Overall, this analysis suggests that regulatory enforcement and a systematic reporting framework with adequate guidance is going to be critical to developing transparent climate-related reporting in future.

This paper contributes to existing studies on climate-related disclosures, which have mainly examined the ‘front-half’ of annual reports. Conversely, this study aims to shed light on these practices in the “back-half” of these reports, exploring the underlying reasons for reporting climate-related risks and opportunities in financial accounts. The authors’ insights into the current disclosure practices make a theoretical contribution to the literature. Practitioners can also draw on these insights to improve how they report on climate-related risks and opportunities in their financial statements.

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The disclosure of climate-related risks and opportunities in financial statements: the UK’s FTSE 10010.1108/MEDAR-05-2023-1998Meditari Accountancy Research2023-12-19© 2023 Emerald Publishing LimitedZahra BorgheiMartina LinnenlueckeBinh BuiMeditari Accountancy Researchahead-of-printahead-of-print2023-12-1910.1108/MEDAR-05-2023-1998https://www.emerald.com/insight/content/doi/10.1108/MEDAR-05-2023-1998/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Rethinking accounting education for a sustainable future: charting a course for sustainable development goals 2030https://www.emerald.com/insight/content/doi/10.1108/MEDAR-05-2023-2009/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to seek accounting graduates' perspectives on the demand for accounting in their workplaces, on the gaps in accounting education (AE), and on the future of the accounting profession, inspired by the new definition of accounting proposed by Carnegie et al. (2021, 2022, 2023a), to adopt a strong focus on sustainable development goals (SDGs) in AE to inculcate tertiary students with the skills that lead them to approach and apply accounting as a multidimensional technical, social and moral (TSM) practice. The online qualitative survey was distributed to 100 randomly selected New Zealand accounting graduates in order to gather insights from their workplaces. All responses from the 30 graduates who completed the questionnaire underwent qualitative analysis using Leximancer software, which automatically identifies high-level concepts and insights and offers interactive visualizations without bias. The graduates’ experiences underscore the ongoing significance of technical skills in the New Zealand workplace. They emphasized the lack of non-technical skills training, stressed the necessity of diverse business knowledge and highlighted the importance of automation and digital skills. The implications for transforming AE involve adopting an activist approach to integrate a TSM perspective into teaching and learning and being open to an interdisciplinary approach to expose tertiary students to the impact of accounting on sustainable development, including collaboration with professional bodies for real-world experiences. The importance of engaging with SDG-related narratives is stressed to stimulate further discussion, debate and research aimed at identifying practical solutions for AE as a facilitator for SDGs in realizing accounting as a TSM practice.Rethinking accounting education for a sustainable future: charting a course for sustainable development goals 2030
Radiah Othman, Rashid Ameer
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to seek accounting graduates' perspectives on the demand for accounting in their workplaces, on the gaps in accounting education (AE), and on the future of the accounting profession, inspired by the new definition of accounting proposed by Carnegie et al. (2021, 2022, 2023a), to adopt a strong focus on sustainable development goals (SDGs) in AE to inculcate tertiary students with the skills that lead them to approach and apply accounting as a multidimensional technical, social and moral (TSM) practice.

The online qualitative survey was distributed to 100 randomly selected New Zealand accounting graduates in order to gather insights from their workplaces. All responses from the 30 graduates who completed the questionnaire underwent qualitative analysis using Leximancer software, which automatically identifies high-level concepts and insights and offers interactive visualizations without bias.

The graduates’ experiences underscore the ongoing significance of technical skills in the New Zealand workplace. They emphasized the lack of non-technical skills training, stressed the necessity of diverse business knowledge and highlighted the importance of automation and digital skills.

The implications for transforming AE involve adopting an activist approach to integrate a TSM perspective into teaching and learning and being open to an interdisciplinary approach to expose tertiary students to the impact of accounting on sustainable development, including collaboration with professional bodies for real-world experiences.

The importance of engaging with SDG-related narratives is stressed to stimulate further discussion, debate and research aimed at identifying practical solutions for AE as a facilitator for SDGs in realizing accounting as a TSM practice.

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Rethinking accounting education for a sustainable future: charting a course for sustainable development goals 203010.1108/MEDAR-05-2023-2009Meditari Accountancy Research2024-03-06© 2024 Emerald Publishing LimitedRadiah OthmanRashid AmeerMeditari Accountancy Researchahead-of-printahead-of-print2024-03-0610.1108/MEDAR-05-2023-2009https://www.emerald.com/insight/content/doi/10.1108/MEDAR-05-2023-2009/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Measuring and reporting environmental impacts of dairy farminghttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-06-2023-2039/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to explore farmers’ perceptions of environmental impacts of dairying and their practices towards implementing environmental management accounting (EMA) techniques. Semi-structured interviews were held with five dairy farmers in the South Island of New Zealand (NZ). Dairy farmers perceive environmental sustainability in dairying as being able to feed people while protecting the environment so that future generations can also enjoy the natural world. Recognising the need to alter their practices to reduce environmental damage they have produced, dairy farmers use some EMA techniques, but the primary motivation is compliance with government regulations. Other motivations for using EMA techniques are high economic returns, maintaining their reputation and self-satisfaction. Barriers to implementing EMA techniques are primarily due to lack of clarity and feasibility of regulations, coercion and inadequate communication by regulators and high compliance costs. The findings contribute to the current EMA literature by providing a better understanding of EMA practices of dairy farmers in NZ, barriers to implementing EMA and how those barriers could be reduced. It may also help NZ central and local government in developing environmental strategies and policies. Furthermore, this research is expected to help people in the dairy industry to find ways to educate farmers about how the measures that are required can help them to reduce both the environmental impacts and the costs of dairying, thus contributing to sustainable development globally.Measuring and reporting environmental impacts of dairy farming
Inani Husna Zamri, Beverley R. Lord, Natasja Steenkamp
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to explore farmers’ perceptions of environmental impacts of dairying and their practices towards implementing environmental management accounting (EMA) techniques.

Semi-structured interviews were held with five dairy farmers in the South Island of New Zealand (NZ).

Dairy farmers perceive environmental sustainability in dairying as being able to feed people while protecting the environment so that future generations can also enjoy the natural world. Recognising the need to alter their practices to reduce environmental damage they have produced, dairy farmers use some EMA techniques, but the primary motivation is compliance with government regulations. Other motivations for using EMA techniques are high economic returns, maintaining their reputation and self-satisfaction. Barriers to implementing EMA techniques are primarily due to lack of clarity and feasibility of regulations, coercion and inadequate communication by regulators and high compliance costs.

The findings contribute to the current EMA literature by providing a better understanding of EMA practices of dairy farmers in NZ, barriers to implementing EMA and how those barriers could be reduced. It may also help NZ central and local government in developing environmental strategies and policies. Furthermore, this research is expected to help people in the dairy industry to find ways to educate farmers about how the measures that are required can help them to reduce both the environmental impacts and the costs of dairying, thus contributing to sustainable development globally.

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Measuring and reporting environmental impacts of dairy farming10.1108/MEDAR-06-2023-2039Meditari Accountancy Research2024-03-12© 2024 Emerald Publishing LimitedInani Husna ZamriBeverley R. LordNatasja SteenkampMeditari Accountancy Researchahead-of-printahead-of-print2024-03-1210.1108/MEDAR-06-2023-2039https://www.emerald.com/insight/content/doi/10.1108/MEDAR-06-2023-2039/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Do nonfinancial reporting practices matter in SDG disclosure? An exploratory studyhttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-06-2023-2054/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe Agenda 2030 have drawn a lot of interest in academic studies. This necessitates accounting research on nonfinancial reporting and sustainable development goals (SDG) disclosure in an under-investigated context. The purpose of this study is to examine the contribution of nonfinancial reporting practices to SDG disclosure by 120 companies from 12 African nations for the years 2016 to 2020. The study uses a content analysis to gauge how much information are disclosed on SDG by the selected firms. The authors carried out content analysis using the global reporting initiative frameworks to determine the level of SDG disclosure across the companies by examining the selected nonfinancial reports. Sustainability reports account for 50% of such SDG disclosure making it the highest. This is followed by corporate social responsibility report which accounts for 23%, while environmental reports account for 20% and Chairman’s statement accounts for 7%. The result is expected since corporate sustainability report has been the major channel for disclosing activities relating to social and governance issues in recent times. The results of this study demand that corporate entities in Africa take responsibility for their actions and exert significant effort to achieve the SDG. While the government has the main responsibility, corporate entities must support the SDG to be realized. To the best of the authors’ knowledge, this study is one of the few studies that examines nonfinancial reporting practices with a focus on SDG disclosure. In addition, this study offers novel insight into how accounting research contributes to nonfinancial reporting practices and SDG disclosure.Do nonfinancial reporting practices matter in SDG disclosure? An exploratory study
Olayinka Adedayo Erin, Paul Olojede
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

The Agenda 2030 have drawn a lot of interest in academic studies. This necessitates accounting research on nonfinancial reporting and sustainable development goals (SDG) disclosure in an under-investigated context. The purpose of this study is to examine the contribution of nonfinancial reporting practices to SDG disclosure by 120 companies from 12 African nations for the years 2016 to 2020.

The study uses a content analysis to gauge how much information are disclosed on SDG by the selected firms. The authors carried out content analysis using the global reporting initiative frameworks to determine the level of SDG disclosure across the companies by examining the selected nonfinancial reports.

Sustainability reports account for 50% of such SDG disclosure making it the highest. This is followed by corporate social responsibility report which accounts for 23%, while environmental reports account for 20% and Chairman’s statement accounts for 7%. The result is expected since corporate sustainability report has been the major channel for disclosing activities relating to social and governance issues in recent times.

The results of this study demand that corporate entities in Africa take responsibility for their actions and exert significant effort to achieve the SDG. While the government has the main responsibility, corporate entities must support the SDG to be realized.

To the best of the authors’ knowledge, this study is one of the few studies that examines nonfinancial reporting practices with a focus on SDG disclosure. In addition, this study offers novel insight into how accounting research contributes to nonfinancial reporting practices and SDG disclosure.

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Do nonfinancial reporting practices matter in SDG disclosure? An exploratory study10.1108/MEDAR-06-2023-2054Meditari Accountancy Research2024-03-12© 2024 Emerald Publishing LimitedOlayinka Adedayo ErinPaul OlojedeMeditari Accountancy Researchahead-of-printahead-of-print2024-03-1210.1108/MEDAR-06-2023-2054https://www.emerald.com/insight/content/doi/10.1108/MEDAR-06-2023-2054/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Do CEO risk-reducing incentives affect operating leverage? Evidence from CEO inside debt holdingshttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-07-2022-1740/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this paper is to investigate the relationship between CEOs' inside debt holdings (pension benefits and deferred compensation) and the operating leverage of the firms they manage, with the aim to examine whether CEO incentives play a role in corporate risk-taking. The authors investigate the relation between CEO inside debt holdings (CIDH) (pension benefits and deferred compensation) and the operating leverage (DOL) of the firms they manage. Using a sample of 11,145 US firm-year observations over the period 2006–2017, the authors find a strong negative association between CIDH and DOL. Additional analyses reveal that the relationship between CIDH and DOL is more pronounced in firms with heightened agency issues, powerful CEOs and for CEOs with stronger professional networks. The results are robust to various sensitivity and endogeneity tests. The authors find strong evidence confirming the expected negative association between CEO inside debt and DOL suggesting that firms with higher inside debt tend to maintain lower levels of operating leverage. These findings continue to hold with the alternative measure for the inside debt and operating leverage, and across a range of tests designed to rule out the possibility that the primary findings are in any way driven by potential endogeneity. In addition, the findings demonstrate that the presence of manager-shareholder agency conflicts can strengthen the inside debt–DOL relationship suggesting the strong role of inside debt in reducing firm risk. Findings in this paper have implications for design of compensation structures so that corporate boards can establish incentives as a tool for risk management. A limitation of this study is that it is focused on one market, i.e. US listed companies, so the findings may not be applicable on a global scale. To the best of the authors’ knowledge, this is the first study that links firm-level management of operating leverage through design of CEO inside debt incentives (two obvious choices for risk-reduction at the CEOs’ disposal include reducing financial risk through reduction of firm leverage and reducing operating risk through reduction of operating leverage). While use of firm leverage as an instrument of choice has been explored in the past, use of operating leverage to achieve risk reduction when CEO possess high inside holding, has received very little attention.Do CEO risk-reducing incentives affect operating leverage? Evidence from CEO inside debt holdings
Gurmeet Singh Bhabra, Ashrafee Tanvir Hossain
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this paper is to investigate the relationship between CEOs' inside debt holdings (pension benefits and deferred compensation) and the operating leverage of the firms they manage, with the aim to examine whether CEO incentives play a role in corporate risk-taking.

The authors investigate the relation between CEO inside debt holdings (CIDH) (pension benefits and deferred compensation) and the operating leverage (DOL) of the firms they manage. Using a sample of 11,145 US firm-year observations over the period 2006–2017, the authors find a strong negative association between CIDH and DOL. Additional analyses reveal that the relationship between CIDH and DOL is more pronounced in firms with heightened agency issues, powerful CEOs and for CEOs with stronger professional networks. The results are robust to various sensitivity and endogeneity tests.

The authors find strong evidence confirming the expected negative association between CEO inside debt and DOL suggesting that firms with higher inside debt tend to maintain lower levels of operating leverage. These findings continue to hold with the alternative measure for the inside debt and operating leverage, and across a range of tests designed to rule out the possibility that the primary findings are in any way driven by potential endogeneity. In addition, the findings demonstrate that the presence of manager-shareholder agency conflicts can strengthen the inside debt–DOL relationship suggesting the strong role of inside debt in reducing firm risk.

Findings in this paper have implications for design of compensation structures so that corporate boards can establish incentives as a tool for risk management. A limitation of this study is that it is focused on one market, i.e. US listed companies, so the findings may not be applicable on a global scale.

To the best of the authors’ knowledge, this is the first study that links firm-level management of operating leverage through design of CEO inside debt incentives (two obvious choices for risk-reduction at the CEOs’ disposal include reducing financial risk through reduction of firm leverage and reducing operating risk through reduction of operating leverage). While use of firm leverage as an instrument of choice has been explored in the past, use of operating leverage to achieve risk reduction when CEO possess high inside holding, has received very little attention.

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Do CEO risk-reducing incentives affect operating leverage? Evidence from CEO inside debt holdings10.1108/MEDAR-07-2022-1740Meditari Accountancy Research2023-09-19© Emerald Publishing LimitedGurmeet Singh BhabraAshrafee Tanvir HossainMeditari Accountancy Researchahead-of-printahead-of-print2023-09-1910.1108/MEDAR-07-2022-1740https://www.emerald.com/insight/content/doi/10.1108/MEDAR-07-2022-1740/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© Emerald Publishing Limited
Analysing SDG disclosure and its impact on integrated thinking and reportinghttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-07-2022-1751/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe study aims to empirically investigate whether the disclosure of Sustainable Development Goals (SDGs) affects the level of integrated thinking and reporting (ITR) on a sample of European listed companies. The sample focusses on companies listed to the STOXX Europe 600 Index. Data have been gathered from Refinitiv DataStream for the period 2019–2020 for the measures of ITR level and SDG disclosure. Then, a multivariate regression analysis is developed to test whether or not, and if so, to what extent, SDG disclosure affects the level of ITR. SDG disclosure has been increased over time and companies have primarily focussed on SDG 8, SDG12 and SDG 13 demonstrating their awareness on sustainability issues close to the core business and on the climate urgency. Furthermore, SDG disclosure leads to a higher level of ITR meaning that SDG disclosure is an important pillar contributing to ITR. The empirical analysis has not deeply investigated each component of ITR and SDG disclosure. The research can be useful for companies aiming to improve their commitment towards the SDG implementation with an integrated approach. Moreover, the study sheds light on the importance of the SDG disclosure as a determinant of ITR. The research contributes to literature in the stream of sustainability accounting, by adding new insights on ITR linked to SDG disclosure. To the best of the authors’ knowledge, the originality of the study lies in the inclusion of SDG disclosure as a determinant for ITR that has not been analysed by academics yet.Analysing SDG disclosure and its impact on integrated thinking and reporting
Fabio Rizzato, Alberto Tonelli, Simona Fiandrino, Alain Devalle
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

The study aims to empirically investigate whether the disclosure of Sustainable Development Goals (SDGs) affects the level of integrated thinking and reporting (ITR) on a sample of European listed companies.

The sample focusses on companies listed to the STOXX Europe 600 Index. Data have been gathered from Refinitiv DataStream for the period 2019–2020 for the measures of ITR level and SDG disclosure. Then, a multivariate regression analysis is developed to test whether or not, and if so, to what extent, SDG disclosure affects the level of ITR.

SDG disclosure has been increased over time and companies have primarily focussed on SDG 8, SDG12 and SDG 13 demonstrating their awareness on sustainability issues close to the core business and on the climate urgency. Furthermore, SDG disclosure leads to a higher level of ITR meaning that SDG disclosure is an important pillar contributing to ITR.

The empirical analysis has not deeply investigated each component of ITR and SDG disclosure.

The research can be useful for companies aiming to improve their commitment towards the SDG implementation with an integrated approach. Moreover, the study sheds light on the importance of the SDG disclosure as a determinant of ITR.

The research contributes to literature in the stream of sustainability accounting, by adding new insights on ITR linked to SDG disclosure. To the best of the authors’ knowledge, the originality of the study lies in the inclusion of SDG disclosure as a determinant for ITR that has not been analysed by academics yet.

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Analysing SDG disclosure and its impact on integrated thinking and reporting10.1108/MEDAR-07-2022-1751Meditari Accountancy Research2023-08-15© 2023 Emerald Publishing LimitedFabio RizzatoAlberto TonelliSimona FiandrinoAlain DevalleMeditari Accountancy Researchahead-of-printahead-of-print2023-08-1510.1108/MEDAR-07-2022-1751https://www.emerald.com/insight/content/doi/10.1108/MEDAR-07-2022-1751/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Looking within: cultivating compassion for shaping sustainable mindsets in accounting educationhttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-07-2023-2082/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to explore the role of individual inner dimensions in fostering sustainable mindsets in accounting students and graduates. Individual inner dimensions such as compassion shape our behaviour and responses to sustainability challenges. Consideration of inner dimensions, in conjunction with sustainability knowledge and skill development, is needed for reshaping the accounting profession towards achieving sustainable futures. The authors explore the role of individual inner dimensions in accounting and how approaches to cultivating compassion in other disciplinary educational settings could be applied to cultivate and facilitate compassion within accounting education. Approaches to cultivating compassion for human and non-human species within accounting education are presented, highlighting their relevance to accounting decisions and organisational accountability. Cultivating compassion for human and non-human species within accounting education aligns with the broader role of accounting in social and environmental issues. Embedding compassionate approaches with a problem-solving focus within accounting pedagogies and curricula design could contribute to shaping behaviour and reorienting the mindsets of future accounting professionals. Cultivating compassion within accounting students enhances connections across species, encourages students to recognise the role of compassion in sustainable decision-making and promotes a sustainable mindset. Enhanced compassion in accounting graduates could provide the motivational force for action-oriented responses from the accounting profession to the unprecedented ecological crisis. To the best of the authors’ knowledge, this paper presents a first step in exploring potential approaches to cultivating and facilitating compassion within accounting pedagogies and curricula design. This paper extends sustainability accounting education literature by considering individual inner dimensions in shifting mindsets of accounting students, graduates and educators towards sustainability.Looking within: cultivating compassion for shaping sustainable mindsets in accounting education
Lisa Powell, Nicholas McGuigan
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to explore the role of individual inner dimensions in fostering sustainable mindsets in accounting students and graduates. Individual inner dimensions such as compassion shape our behaviour and responses to sustainability challenges. Consideration of inner dimensions, in conjunction with sustainability knowledge and skill development, is needed for reshaping the accounting profession towards achieving sustainable futures.

The authors explore the role of individual inner dimensions in accounting and how approaches to cultivating compassion in other disciplinary educational settings could be applied to cultivate and facilitate compassion within accounting education. Approaches to cultivating compassion for human and non-human species within accounting education are presented, highlighting their relevance to accounting decisions and organisational accountability.

Cultivating compassion for human and non-human species within accounting education aligns with the broader role of accounting in social and environmental issues. Embedding compassionate approaches with a problem-solving focus within accounting pedagogies and curricula design could contribute to shaping behaviour and reorienting the mindsets of future accounting professionals.

Cultivating compassion within accounting students enhances connections across species, encourages students to recognise the role of compassion in sustainable decision-making and promotes a sustainable mindset. Enhanced compassion in accounting graduates could provide the motivational force for action-oriented responses from the accounting profession to the unprecedented ecological crisis.

To the best of the authors’ knowledge, this paper presents a first step in exploring potential approaches to cultivating and facilitating compassion within accounting pedagogies and curricula design. This paper extends sustainability accounting education literature by considering individual inner dimensions in shifting mindsets of accounting students, graduates and educators towards sustainability.

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Looking within: cultivating compassion for shaping sustainable mindsets in accounting education10.1108/MEDAR-07-2023-2082Meditari Accountancy Research2024-01-02© 2023 Emerald Publishing LimitedLisa PowellNicholas McGuiganMeditari Accountancy Researchahead-of-printahead-of-print2024-01-0210.1108/MEDAR-07-2023-2082https://www.emerald.com/insight/content/doi/10.1108/MEDAR-07-2023-2082/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
The mediating role of corporate social responsibility in good corporate governance and firm value relationship: evidence from European financial institutionshttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-08-2022-1762/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to investigate the direct and indirect links between good corporate governance (GCG) and firm value using corporate social responsibility (CSR) as a mediating variable. The data used in this research was collected from the Thomson Reuters Eikon ASSET4 database, involving 108 financial institutions belonging to 12 European countries listed on the stock exchange between 2007 and 2019. A multivariate linear regression analysis was conducted to test the hypotheses of this study. Our results show that GCG has a positive effect on the firm value and CSR practices. Interestingly, the results indicate that CSR positively influences firm value. The results also reveal that CSR partially mediates the relationship between GCG and firm value. This study contributes to the literature by providing evidence on how GCG increases firm value with the mediation mechanism of CSR in the link between GCG and firm value. To the best of our knowledge, it is the first research work documenting that GCG leads to better CSR, which ultimately results in increasing firm value of companies from the financial sector by bridging the information gap for this critical industry in the context of a developed market like Europe.The mediating role of corporate social responsibility in good corporate governance and firm value relationship: evidence from European financial institutions
Hanen Ben Fatma, Jamel Chouaibi
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to investigate the direct and indirect links between good corporate governance (GCG) and firm value using corporate social responsibility (CSR) as a mediating variable.

The data used in this research was collected from the Thomson Reuters Eikon ASSET4 database, involving 108 financial institutions belonging to 12 European countries listed on the stock exchange between 2007 and 2019. A multivariate linear regression analysis was conducted to test the hypotheses of this study.

Our results show that GCG has a positive effect on the firm value and CSR practices. Interestingly, the results indicate that CSR positively influences firm value. The results also reveal that CSR partially mediates the relationship between GCG and firm value.

This study contributes to the literature by providing evidence on how GCG increases firm value with the mediation mechanism of CSR in the link between GCG and firm value. To the best of our knowledge, it is the first research work documenting that GCG leads to better CSR, which ultimately results in increasing firm value of companies from the financial sector by bridging the information gap for this critical industry in the context of a developed market like Europe.

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The mediating role of corporate social responsibility in good corporate governance and firm value relationship: evidence from European financial institutions10.1108/MEDAR-08-2022-1762Meditari Accountancy Research2023-12-18© 2023 Emerald Publishing LimitedHanen Ben FatmaJamel ChouaibiMeditari Accountancy Researchahead-of-printahead-of-print2023-12-1810.1108/MEDAR-08-2022-1762https://www.emerald.com/insight/content/doi/10.1108/MEDAR-08-2022-1762/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
A closer look at integrated reporting quality: a systematic review and agenda of future researchhttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-08-2022-1782/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to conduct a systematic review of the literature on the quality of integrated reports (IR) and highlight the gaps in the existing research to provide directions and suggestions for future research. This study was conducted through a systematic literature review using content analysis based on 40 papers from the Scopus, Web of Science and EBSCOhost databases on IR quality. While reading the full-text papers, the authors found six additional papers referenced by the literature being reviewed that were relevant to IR quality. Thus, there were 46 papers in the final review. The analysis begins with the definition and dimension of IR quality and theoretical lenses. Furthermore, this study outlines constructs or variables used in the previous literature. The authors found that most studies used the quantitative method (41 papers or 89%). Five papers in the literature used qualitative methods (11%). Most researchers (34 papers or 72%) defined IR quality as consistent with the International Integrated Reporting Council framework, specifically the eight content elements. In particular, with the constructs that make up the quality of the IR, variations between researchers were found. Furthermore, there were some gaps that could be the directions for future research. The literature that provides academic knowledge about IR quality is still limited, and research on IR is still growing. The literature review conducted by this study can provide an overview of the current research positions on the quality of IR and directions for future research in this area. This study intends to show corporate executives a framework demonstrating the quality of corporate reporting. It can impact not only investors as a specific stakeholder group but also other stakeholder groups. To the best of the authors’ knowledge, this study is the first literature review to examine the quality of IR, thus providing a map of current research to suggest directions for future research. Most of the previous literature reviews have been focused on integrated reporting (IR) in general and not quality.A closer look at integrated reporting quality: a systematic review and agenda of future research
Ika Permatasari, Bambang Tjahjadi
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to conduct a systematic review of the literature on the quality of integrated reports (IR) and highlight the gaps in the existing research to provide directions and suggestions for future research.

This study was conducted through a systematic literature review using content analysis based on 40 papers from the Scopus, Web of Science and EBSCOhost databases on IR quality. While reading the full-text papers, the authors found six additional papers referenced by the literature being reviewed that were relevant to IR quality. Thus, there were 46 papers in the final review. The analysis begins with the definition and dimension of IR quality and theoretical lenses. Furthermore, this study outlines constructs or variables used in the previous literature.

The authors found that most studies used the quantitative method (41 papers or 89%). Five papers in the literature used qualitative methods (11%). Most researchers (34 papers or 72%) defined IR quality as consistent with the International Integrated Reporting Council framework, specifically the eight content elements. In particular, with the constructs that make up the quality of the IR, variations between researchers were found. Furthermore, there were some gaps that could be the directions for future research.

The literature that provides academic knowledge about IR quality is still limited, and research on IR is still growing. The literature review conducted by this study can provide an overview of the current research positions on the quality of IR and directions for future research in this area.

This study intends to show corporate executives a framework demonstrating the quality of corporate reporting. It can impact not only investors as a specific stakeholder group but also other stakeholder groups.

To the best of the authors’ knowledge, this study is the first literature review to examine the quality of IR, thus providing a map of current research to suggest directions for future research. Most of the previous literature reviews have been focused on integrated reporting (IR) in general and not quality.

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A closer look at integrated reporting quality: a systematic review and agenda of future research10.1108/MEDAR-08-2022-1782Meditari Accountancy Research2023-07-31© 2023 Emerald Publishing LimitedIka PermatasariBambang TjahjadiMeditari Accountancy Researchahead-of-printahead-of-print2023-07-3110.1108/MEDAR-08-2022-1782https://www.emerald.com/insight/content/doi/10.1108/MEDAR-08-2022-1782/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Insights into the application of AI-augmented research methods for informing accounting practice: the development – through AI - of accountability-related prescriptions pertaining to seasonal workhttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-08-2023-2116/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this study is to provide a detailed demonstration of how artificial intelligence (AI) can be used to potentially generate valuable insights and recommendations regarding the role of accounting in addressing key sustainability-related issues. The study offers a novel method for leveraging AI tools to augment traditional scoping study techniques. The method was used to show how the authors can produce recommendations for potentially enhancing organisational accountability pertaining to seasonal workers. Through the use of AI and informed by the knowledge base that the authors created, the authors have developed prescriptions that have the potential to advance the interests of seasonal workers. In doing so, the authors have focussed on developing a useful and detailed guide to assist their colleagues to apply AI to various research questions. This study demonstrates the ability of AI to assist researchers in efficiently finding solutions to social problems. By augmenting traditional scoping study techniques with AI tools, the authors present a framework to assist future research in such areas as accounting and accountability.Insights into the application of AI-augmented research methods for informing accounting practice: the development – through AI - of accountability-related prescriptions pertaining to seasonal work
Bronwyn Eager, Craig Deegan, Terese Fiedler
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this study is to provide a detailed demonstration of how artificial intelligence (AI) can be used to potentially generate valuable insights and recommendations regarding the role of accounting in addressing key sustainability-related issues.

The study offers a novel method for leveraging AI tools to augment traditional scoping study techniques. The method was used to show how the authors can produce recommendations for potentially enhancing organisational accountability pertaining to seasonal workers.

Through the use of AI and informed by the knowledge base that the authors created, the authors have developed prescriptions that have the potential to advance the interests of seasonal workers. In doing so, the authors have focussed on developing a useful and detailed guide to assist their colleagues to apply AI to various research questions.

This study demonstrates the ability of AI to assist researchers in efficiently finding solutions to social problems. By augmenting traditional scoping study techniques with AI tools, the authors present a framework to assist future research in such areas as accounting and accountability.

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Insights into the application of AI-augmented research methods for informing accounting practice: the development – through AI - of accountability-related prescriptions pertaining to seasonal work10.1108/MEDAR-08-2023-2116Meditari Accountancy Research2024-03-25© 2024 Emerald Publishing LimitedBronwyn EagerCraig DeeganTerese FiedlerMeditari Accountancy Researchahead-of-printahead-of-print2024-03-2510.1108/MEDAR-08-2023-2116https://www.emerald.com/insight/content/doi/10.1108/MEDAR-08-2023-2116/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Shifting perspectives: unveiling the dual nature of sustainability materiality in integrated reportshttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-08-2023-2128/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestIntegrated reporting enhances the meaningfulness of non-financial information, but whether this enhancement is progressive or regressive from a sustainability perspective is unknown. This study aims to examine the influence of the Integrated Reporting (<IR>) Framework on the disclosure of financial- and impact-material sustainability-related information in integrated reports. Using a disclosure index constructed from the Global Reporting Initiative’s G4 Guidelines and UN Sustainable Development Goals, the authors content analysed integrated reports of 40 companies from the International Integrated Reporting Council’s Pilot Programme Business Network published between 2015 and 2017. The content analysis distinguished between financial- and impact-material sustainability-related information. The extent of sustainability-related disclosures in integrated reports remained more or less constant over the study period. Impact-material disclosures were more prominent than financial material ones. Impact-material disclosures mainly related to environmental aspects, while labour practices-related disclosures were predominantly financially material. The balance between financially- and impact-material sustainability-related disclosures varied based on factors such as industry environmental sensitivity and country-specific characteristics, such as the country’s legal system and development status. The paper presents a unique disclosure index to distinguish between financially- and impact-material sustainability-related disclosures. Researchers can use this disclosure index to critically examine the nature of sustainability-related disclosure in corporate reports. This study offers an in-depth understanding of the influence of non-financial reporting frameworks, such as the <IR> Framework that uses a financial materiality perspective, on sustainability reporting. The findings reveal that the practical implementation of the <IR> Framework resulted in sustainability reporting outcomes that deviated from theoretical expectations. Exploring the materiality concept that underscores sustainability-related disclosures by companies using the <IR> Framework is useful for predicting the effects of adopting the Sustainability Disclosure Standards issued by the International Sustainability Standards Board, which also emphasises financial materiality. Despite an emphasis on financial materiality in the <IR> Framework, companies continue to offer substantial impact-material information, implying the potential for companies to balance both financial and broader societal concerns in their reporting. While prior research has delved into the practices of regulated integrated reporting, especially in the unique context of South Africa, this study focuses on voluntary adoption, attributing observed practices to intrinsic company motivations. To the best of the authors’ knowledge, it is the first study to explicitly explore the nature of materiality in sustainability-related disclosure. The research also introduces a nuanced understanding of contextual factors influencing sustainability reporting.Shifting perspectives: unveiling the dual nature of sustainability materiality in integrated reports
Neelam Setia, Subhash Abhayawansa, Mahesh Joshi, Nandana Wasantha Pathiranage
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

Integrated reporting enhances the meaningfulness of non-financial information, but whether this enhancement is progressive or regressive from a sustainability perspective is unknown. This study aims to examine the influence of the Integrated Reporting (<IR>) Framework on the disclosure of financial- and impact-material sustainability-related information in integrated reports.

Using a disclosure index constructed from the Global Reporting Initiative’s G4 Guidelines and UN Sustainable Development Goals, the authors content analysed integrated reports of 40 companies from the International Integrated Reporting Council’s Pilot Programme Business Network published between 2015 and 2017. The content analysis distinguished between financial- and impact-material sustainability-related information.

The extent of sustainability-related disclosures in integrated reports remained more or less constant over the study period. Impact-material disclosures were more prominent than financial material ones. Impact-material disclosures mainly related to environmental aspects, while labour practices-related disclosures were predominantly financially material. The balance between financially- and impact-material sustainability-related disclosures varied based on factors such as industry environmental sensitivity and country-specific characteristics, such as the country’s legal system and development status.

The paper presents a unique disclosure index to distinguish between financially- and impact-material sustainability-related disclosures. Researchers can use this disclosure index to critically examine the nature of sustainability-related disclosure in corporate reports.

This study offers an in-depth understanding of the influence of non-financial reporting frameworks, such as the <IR> Framework that uses a financial materiality perspective, on sustainability reporting. The findings reveal that the practical implementation of the <IR> Framework resulted in sustainability reporting outcomes that deviated from theoretical expectations. Exploring the materiality concept that underscores sustainability-related disclosures by companies using the <IR> Framework is useful for predicting the effects of adopting the Sustainability Disclosure Standards issued by the International Sustainability Standards Board, which also emphasises financial materiality.

Despite an emphasis on financial materiality in the <IR> Framework, companies continue to offer substantial impact-material information, implying the potential for companies to balance both financial and broader societal concerns in their reporting.

While prior research has delved into the practices of regulated integrated reporting, especially in the unique context of South Africa, this study focuses on voluntary adoption, attributing observed practices to intrinsic company motivations. To the best of the authors’ knowledge, it is the first study to explicitly explore the nature of materiality in sustainability-related disclosure. The research also introduces a nuanced understanding of contextual factors influencing sustainability reporting.

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Shifting perspectives: unveiling the dual nature of sustainability materiality in integrated reports10.1108/MEDAR-08-2023-2128Meditari Accountancy Research2024-02-05© 2024 Emerald Publishing LimitedNeelam SetiaSubhash AbhayawansaMahesh JoshiNandana Wasantha PathiranageMeditari Accountancy Researchahead-of-printahead-of-print2024-02-0510.1108/MEDAR-08-2023-2128https://www.emerald.com/insight/content/doi/10.1108/MEDAR-08-2023-2128/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
A review and analysis of impression management with photographs in sustainability reportinghttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-09-2022-1798/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestAlthough photographs in sustainability reports are useful in conveying complex messages, they may also be used to manipulate the presentation of disclosures to exploit the limited cognitive processing capacity of humans. Therefore, this paper aims to examine the features of photographs aimed at capturing individuals’ attention through visual structures and evoking specific emotions through carefully chosen content. Furthermore, it examines whether such framing practice is explained by incentives for legitimizing behaviours and influencing reputation. The authors conduct a content analysis of photographs in 154 sustainability reports published by US companies. The authors captured the nature of photographs, the context in which they are being used, their themes and emotional content and layout and interaction features to understand how photographs are used for attribute framing to influence information processing. Furthermore, the authors statistically examine the framing practice between companies with different characteristics to identify any patterns for the impression management use of photographs in sustainability reports. Photographs are often large with a horizontal orientation to capture attention and show content viewed at eye level and in either medium or close-up shots to engage viewers. Furthermore, photographs are emotionally loaded with different themes such as depictions of people, technology and nature. These themes are used to predominately evoke positive emotions of awe, nurturance, pride, amusement and attachment. This practice is often used by companies in environmentally sensitive areas that have close consumer relationships or are covered controversially in the media. The authors reveal reporting practices and identify photographic features that attract attention and convey emotions that go beyond aesthetic qualities. This is important because emotions conveyed through photographs can be potentially misleading and influence judgements subconsciously.A review and analysis of impression management with photographs in sustainability reporting
Majid Kanbaty, Andreas Hellmann, Lawrence Ang, Liyu He
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

Although photographs in sustainability reports are useful in conveying complex messages, they may also be used to manipulate the presentation of disclosures to exploit the limited cognitive processing capacity of humans. Therefore, this paper aims to examine the features of photographs aimed at capturing individuals’ attention through visual structures and evoking specific emotions through carefully chosen content. Furthermore, it examines whether such framing practice is explained by incentives for legitimizing behaviours and influencing reputation.

The authors conduct a content analysis of photographs in 154 sustainability reports published by US companies. The authors captured the nature of photographs, the context in which they are being used, their themes and emotional content and layout and interaction features to understand how photographs are used for attribute framing to influence information processing. Furthermore, the authors statistically examine the framing practice between companies with different characteristics to identify any patterns for the impression management use of photographs in sustainability reports.

Photographs are often large with a horizontal orientation to capture attention and show content viewed at eye level and in either medium or close-up shots to engage viewers. Furthermore, photographs are emotionally loaded with different themes such as depictions of people, technology and nature. These themes are used to predominately evoke positive emotions of awe, nurturance, pride, amusement and attachment. This practice is often used by companies in environmentally sensitive areas that have close consumer relationships or are covered controversially in the media.

The authors reveal reporting practices and identify photographic features that attract attention and convey emotions that go beyond aesthetic qualities. This is important because emotions conveyed through photographs can be potentially misleading and influence judgements subconsciously.

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A review and analysis of impression management with photographs in sustainability reporting10.1108/MEDAR-09-2022-1798Meditari Accountancy Research2023-12-07© 2023 Emerald Publishing LimitedMajid KanbatyAndreas HellmannLawrence AngLiyu HeMeditari Accountancy Researchahead-of-printahead-of-print2023-12-0710.1108/MEDAR-09-2022-1798https://www.emerald.com/insight/content/doi/10.1108/MEDAR-09-2022-1798/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Dialogic carbon accounting: toward agonistic discourses and democratic governance in Chinahttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-09-2022-1800/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to explore the conflicting issues of carbon accounting and trading practices in China through the lens of agonistic democracy. Based on a framework of three interrelated levels, this study explores emitting entity carbon accounting debates and discussions in mitigating climate change. Interview data were collected from 20 emitting entity participants and external auditors. This study identifies irreconcilable conflicts between emitting entities and the government in carbon accounting and trading activities. Under the strong influence of government power, emitting entities portray themselves as “responsible” and “legitimate” state-owned enterprises. This study further identifies possible democratic spaces and reveals the potential for agonistic discourse and a fallacy of “consensus” and monologues in institutional space. If the emitting entity and government can overcome their participation challenges, this would significantly facilitate vibrant and agonistic discourse in carbon activities and pave the way for democratic spaces. This study demonstrates the potential and limitations of applying agonistic democracy and the significance of participation in institutional spaces in government-led carbon accounting and trading issues. It enriches prior research on promoting democratic participation in carbon accounting from the agonistic democracy perspective.Dialogic carbon accounting: toward agonistic discourses and democratic governance in China
Shuwen Li, Zarina Zakaria, Khairul Saidah Abas Azmi
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to explore the conflicting issues of carbon accounting and trading practices in China through the lens of agonistic democracy.

Based on a framework of three interrelated levels, this study explores emitting entity carbon accounting debates and discussions in mitigating climate change. Interview data were collected from 20 emitting entity participants and external auditors.

This study identifies irreconcilable conflicts between emitting entities and the government in carbon accounting and trading activities. Under the strong influence of government power, emitting entities portray themselves as “responsible” and “legitimate” state-owned enterprises. This study further identifies possible democratic spaces and reveals the potential for agonistic discourse and a fallacy of “consensus” and monologues in institutional space. If the emitting entity and government can overcome their participation challenges, this would significantly facilitate vibrant and agonistic discourse in carbon activities and pave the way for democratic spaces.

This study demonstrates the potential and limitations of applying agonistic democracy and the significance of participation in institutional spaces in government-led carbon accounting and trading issues. It enriches prior research on promoting democratic participation in carbon accounting from the agonistic democracy perspective.

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Dialogic carbon accounting: toward agonistic discourses and democratic governance in China10.1108/MEDAR-09-2022-1800Meditari Accountancy Research2023-12-20© 2023 Emerald Publishing LimitedShuwen LiZarina ZakariaKhairul Saidah Abas AzmiMeditari Accountancy Researchahead-of-printahead-of-print2023-12-2010.1108/MEDAR-09-2022-1800https://www.emerald.com/insight/content/doi/10.1108/MEDAR-09-2022-1800/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Accounting for stakeholder engagement in developing countries: proposing an engagement system to respond to sustainability demandshttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-10-2021-1461/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe purpose of this study is to present an in-depth examination of stakeholder engagement processes in non-governmental organisations (NGOs) from the perspective of NGO managers to enhance accountability and the effectiveness with which aid services are delivered. Specifically, demand-side (downward) accountability and the implications of an accountability system that is predominantly supply-side (upward) focused are explored. This study draws on evidence gathered from 25 in-depth interviews with representatives of leading NGOs in Nigeria to explore and uncover the nature of stakeholder engagement and accountability processes in their respective organisations. This study shows prospects for entrenching organisational reform that balances power and influence that benefits the less economically powerful demand side of the stakeholders. A relevant aspect of stakeholder theory was used to frame the analysis. The study reveals an overlay of a blanket engagement system and a seeming reluctance of NGOs to disclose critical information to the demand-side stakeholders (DSS), and suggests ways to meet sustainability demands and address the militating concerns. A perceived lack of understanding and prospects or outcomes of demand-side accountability are central to this; however, engagement outcomes that account for impact rather than output are explored and reported. The findings suggest that proper accountability involves adequate stakeholder engagement which is a prerequisite and paramount for sustainability. This study primarily delineates NGO managers’ views on NGO engagement and accountability dynamics. Future research may explore the perspectives of downward stakeholders themselves. The study highlights the concern for NGOs to maintain a defined stakeholder engagement process that resists external forces that may impact on their operations and derail their mission, resulting in duplication of services. The study shows the implications of donors’ influence on accountability practices which can be improved by re-structuring supply-side stakeholders to significantly include DSS accountability requirements in the key performance indicators of NGOs in developing countries. The authors present a nuanced perspective to aid delivery and access that ensures improved services and more effective, impactful and sustainable aid which is of practical relevance to NGOs and their accountability mechanism. This study deepens the understanding of the dynamics of stakeholder engagement and accountability processes and shows that the most effective way to deploy aid funds to meet sustainability goals is to draw on the experiences and local knowledge of the DSS. This would require an effective and results-driven dialogue among all the stakeholders involved. The proposed engagement and management framework contribute to theory and practice by fostering multi-stakeholder cooperation, DSS accountability and the advancement of sustainable developmentAccounting for stakeholder engagement in developing countries: proposing an engagement system to respond to sustainability demands
Ikenna Elias Asogwa, Maria Estela Varua, Rina Datt, Peter Humphreys
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

The purpose of this study is to present an in-depth examination of stakeholder engagement processes in non-governmental organisations (NGOs) from the perspective of NGO managers to enhance accountability and the effectiveness with which aid services are delivered. Specifically, demand-side (downward) accountability and the implications of an accountability system that is predominantly supply-side (upward) focused are explored.

This study draws on evidence gathered from 25 in-depth interviews with representatives of leading NGOs in Nigeria to explore and uncover the nature of stakeholder engagement and accountability processes in their respective organisations. This study shows prospects for entrenching organisational reform that balances power and influence that benefits the less economically powerful demand side of the stakeholders. A relevant aspect of stakeholder theory was used to frame the analysis.

The study reveals an overlay of a blanket engagement system and a seeming reluctance of NGOs to disclose critical information to the demand-side stakeholders (DSS), and suggests ways to meet sustainability demands and address the militating concerns. A perceived lack of understanding and prospects or outcomes of demand-side accountability are central to this; however, engagement outcomes that account for impact rather than output are explored and reported. The findings suggest that proper accountability involves adequate stakeholder engagement which is a prerequisite and paramount for sustainability.

This study primarily delineates NGO managers’ views on NGO engagement and accountability dynamics. Future research may explore the perspectives of downward stakeholders themselves. The study highlights the concern for NGOs to maintain a defined stakeholder engagement process that resists external forces that may impact on their operations and derail their mission, resulting in duplication of services.

The study shows the implications of donors’ influence on accountability practices which can be improved by re-structuring supply-side stakeholders to significantly include DSS accountability requirements in the key performance indicators of NGOs in developing countries. The authors present a nuanced perspective to aid delivery and access that ensures improved services and more effective, impactful and sustainable aid which is of practical relevance to NGOs and their accountability mechanism.

This study deepens the understanding of the dynamics of stakeholder engagement and accountability processes and shows that the most effective way to deploy aid funds to meet sustainability goals is to draw on the experiences and local knowledge of the DSS. This would require an effective and results-driven dialogue among all the stakeholders involved. The proposed engagement and management framework contribute to theory and practice by fostering multi-stakeholder cooperation, DSS accountability and the advancement of sustainable development

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Accounting for stakeholder engagement in developing countries: proposing an engagement system to respond to sustainability demands10.1108/MEDAR-10-2021-1461Meditari Accountancy Research2023-09-20© 2023 Emerald Publishing LimitedIkenna Elias AsogwaMaria Estela VaruaRina DattPeter HumphreysMeditari Accountancy Researchahead-of-printahead-of-print2023-09-2010.1108/MEDAR-10-2021-1461https://www.emerald.com/insight/content/doi/10.1108/MEDAR-10-2021-1461/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Towards concise reporting through integrated reporting: a bibliometric reviewhttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-10-2021-1470/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis paper aims to systematically analyse the publications in the field of integrated reporting (IR) and to present an overview of the current publication trends in IR based on the data obtained from the Scopus database. Selected bibliometric indicators and bibliometrix R-packages are used in examining metrics like annual publication trends, authors with the most produced work, papers that are often cited, top productive countries, top productive affiliations, frequently mentioned journals, frequently mentioned keywords, analysis of co-citation, analysis of collaboration and analysis of co-word. The findings from the bibliometric review indicated that the trend of IR literature had increased from 2017 to 2020, specifically from 2017 to 2019. The findings also indicated that several publications on IR entailed several authors’ collaboration and were published in various languages. Moreover, around 148 institution-affiliated researchers from 40 institutions in 20 countries contributed to the IR publication. This paper offers a comprehensive overview of the current development in IR. It is useful to help emerging scholars identify and understand current trends in IR based on different countries, authors and languages. This paper contributes to the literature on IR by highlighting the trends of IR publications from the Scopus database using bibliometric analysis.Towards concise reporting through integrated reporting: a bibliometric review
Abdallah A.S. Fayad, Arifatul Husna Binti Mohd Ariff, Sue Chern Ooi, Aidi Ahmi, Saleh F.A. Khatib
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

This paper aims to systematically analyse the publications in the field of integrated reporting (IR) and to present an overview of the current publication trends in IR based on the data obtained from the Scopus database.

Selected bibliometric indicators and bibliometrix R-packages are used in examining metrics like annual publication trends, authors with the most produced work, papers that are often cited, top productive countries, top productive affiliations, frequently mentioned journals, frequently mentioned keywords, analysis of co-citation, analysis of collaboration and analysis of co-word.

The findings from the bibliometric review indicated that the trend of IR literature had increased from 2017 to 2020, specifically from 2017 to 2019. The findings also indicated that several publications on IR entailed several authors’ collaboration and were published in various languages. Moreover, around 148 institution-affiliated researchers from 40 institutions in 20 countries contributed to the IR publication.

This paper offers a comprehensive overview of the current development in IR. It is useful to help emerging scholars identify and understand current trends in IR based on different countries, authors and languages.

This paper contributes to the literature on IR by highlighting the trends of IR publications from the Scopus database using bibliometric analysis.

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Towards concise reporting through integrated reporting: a bibliometric review10.1108/MEDAR-10-2021-1470Meditari Accountancy Research2023-08-24© 2023 Emerald Publishing LimitedAbdallah A.S. FayadArifatul Husna Binti Mohd AriffSue Chern OoiAidi AhmiSaleh F.A. KhatibMeditari Accountancy Researchahead-of-printahead-of-print2023-08-2410.1108/MEDAR-10-2021-1470https://www.emerald.com/insight/content/doi/10.1108/MEDAR-10-2021-1470/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Corporate social responsibility and bank value: evidence from bank capitalhttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-10-2023-2197/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThis study aims to examine the effect of corporate social responsibility (CSR) on banks’ capital, value and risk by investigating its impact on capital inflows and asset quality. The authors aim to investigate the value-protective characteristics of socially responsible performance. This study uses a two-stage least squares approach with instrumental variables, with bank and year fixed effects to address concerns regarding endogeneity, specifically reverse causality and unobservable factors. The results confirm a positive association of CSR with capital adequacy, including higher quality Tier 1 Capital. The authors find strong evidence that banks with higher CSR scores are associated with greater bank value and lower risk. The extended analyses find that the improvement in capital is from annual growth in capital and lower risky assets. The research advances the field by providing new empirical evidence of a positive association between CSR and capital, including high-quality Tier 1 Capital. This study complements the prior research by simultaneously examining the dynamic links between CSR and capital, bank risk and bank value. The findings are consistent with the view that there is a dynamic link in which CSR affects the operations of banks.Corporate social responsibility and bank value: evidence from bank capital
Grace Low, Qi Li
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

This study aims to examine the effect of corporate social responsibility (CSR) on banks’ capital, value and risk by investigating its impact on capital inflows and asset quality. The authors aim to investigate the value-protective characteristics of socially responsible performance.

This study uses a two-stage least squares approach with instrumental variables, with bank and year fixed effects to address concerns regarding endogeneity, specifically reverse causality and unobservable factors.

The results confirm a positive association of CSR with capital adequacy, including higher quality Tier 1 Capital. The authors find strong evidence that banks with higher CSR scores are associated with greater bank value and lower risk. The extended analyses find that the improvement in capital is from annual growth in capital and lower risky assets.

The research advances the field by providing new empirical evidence of a positive association between CSR and capital, including high-quality Tier 1 Capital. This study complements the prior research by simultaneously examining the dynamic links between CSR and capital, bank risk and bank value. The findings are consistent with the view that there is a dynamic link in which CSR affects the operations of banks.

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Corporate social responsibility and bank value: evidence from bank capital10.1108/MEDAR-10-2023-2197Meditari Accountancy Research2024-02-26© 2024 Emerald Publishing LimitedGrace LowQi LiMeditari Accountancy Researchahead-of-printahead-of-print2024-02-2610.1108/MEDAR-10-2023-2197https://www.emerald.com/insight/content/doi/10.1108/MEDAR-10-2023-2197/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2024 Emerald Publishing Limited
Why is it so hard to provide a faithful representation? The impact of indirectly evoked incentives on the accounting policy decision and the accountant’s subsequent post-decision distortionhttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-11-2021-1505/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestThe study aims to investigate the impact of indirectly evoked incentives, in the form of supervisor’s preferences, on the decision about accounting policy regarding depreciation method selection and to examine subsequent post-decision distortion by evaluating the depreciation method. The authors conducted two experiments with control and treatment groups, manipulating the supervisor’s indirectly evoked preferences. In Study 2, the authors also measured the evaluation of both depreciation methods to investigate post-decisional distortion regarding the assessment of the depreciation method chosen in a decision task. Study 1 was conducted among 85 accounting students, while Study 2 consisted of 200 accountants. Both studies revealed the significant impact of supervisor’s indirectly evoked preferences on accounting policy decisions. Participants who were aware of supervisors’ preferences were more likely to choose the depreciation method that was consistent with those preferences. The authors also found that those participants attached a higher value to the depreciation method, providing evidence that adherence to the supervisor’s preferences results in a distorted assessment of the depreciation methods. First, this study shows that indirectly evoked supervisors’ preferences may lead to a departure from substantive criteria resulting in low-quality accounting outcomes. Second, the assessment of the depreciation method is inseparable from the situational context, as the evaluation of the depreciation method is interdependent upon the preferences of the choice of a depreciation method and the fulfillment of those preferences.Why is it so hard to provide a faithful representation? The impact of indirectly evoked incentives on the accounting policy decision and the accountant’s subsequent post-decision distortion
Ewa Wanda Maruszewska, Małgorzata Niesiobędzka, Sabina Kołodziej
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

The study aims to investigate the impact of indirectly evoked incentives, in the form of supervisor’s preferences, on the decision about accounting policy regarding depreciation method selection and to examine subsequent post-decision distortion by evaluating the depreciation method.

The authors conducted two experiments with control and treatment groups, manipulating the supervisor’s indirectly evoked preferences. In Study 2, the authors also measured the evaluation of both depreciation methods to investigate post-decisional distortion regarding the assessment of the depreciation method chosen in a decision task. Study 1 was conducted among 85 accounting students, while Study 2 consisted of 200 accountants.

Both studies revealed the significant impact of supervisor’s indirectly evoked preferences on accounting policy decisions. Participants who were aware of supervisors’ preferences were more likely to choose the depreciation method that was consistent with those preferences. The authors also found that those participants attached a higher value to the depreciation method, providing evidence that adherence to the supervisor’s preferences results in a distorted assessment of the depreciation methods.

First, this study shows that indirectly evoked supervisors’ preferences may lead to a departure from substantive criteria resulting in low-quality accounting outcomes. Second, the assessment of the depreciation method is inseparable from the situational context, as the evaluation of the depreciation method is interdependent upon the preferences of the choice of a depreciation method and the fulfillment of those preferences.

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Why is it so hard to provide a faithful representation? The impact of indirectly evoked incentives on the accounting policy decision and the accountant’s subsequent post-decision distortion10.1108/MEDAR-11-2021-1505Meditari Accountancy Research2023-07-28© 2023 Emerald Publishing LimitedEwa Wanda MaruszewskaMałgorzata NiesiobędzkaSabina KołodziejMeditari Accountancy Researchahead-of-printahead-of-print2023-07-2810.1108/MEDAR-11-2021-1505https://www.emerald.com/insight/content/doi/10.1108/MEDAR-11-2021-1505/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited
Determinants of supply chain finance adoption among SMEs: evidence from a developing economyhttps://www.emerald.com/insight/content/doi/10.1108/MEDAR-12-2022-1874/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatestLittle is known about the determinants of supply chain finance (SCF) adoption among small and medium-sized enterprises (SMEs) in developing countries. This study aims to address this relevant research gap and hence, draws on the resource-based view and transaction cost economies to empirically investigate five factors that make SCF adoption practicable among SMEs in Ghana. The approach involves a sample of 257 SME managers/owners and modelling via structural equations modelling. All five factors (innovative capability, information sharing, inter- and intra-firm collaboration, external financing and trade process digitization) were found to impact positively and significantly on SCF adoption. The findings provide SME managers/owners with a research model which guides them on how to settle the SCF process. This paper used a cross-sectional survey, which makes it impossible to access changes over time. In addition, the use of quantitative method limits respondents from expressing their feelings fully. Using a mixed or qualitative methodology will provide avenues for future research. This paper offers a completive advantage for Ghanaian SMEs to strengthen their relationships while collaborating with each other. The findings suggest that by adopting SCF solutions, SMEs can optimize their liquidity and working capital. The factors underpinning SCF adoption are of incredible attractiveness for SME managers/owners to discover the relevant practice of SCF solutions. SMEs should adopt SCF strategies for improving their capability to respond promptly to transactions. This paper is among the few papers that have examined these five factors in a developing economy context. The study also provides new understanding of the factors that influence SCF adoption in the context of a developing economy.Determinants of supply chain finance adoption among SMEs: evidence from a developing economy
Edward Nartey
Meditari Accountancy Research, Vol. ahead-of-print, No. ahead-of-print, pp.-

Little is known about the determinants of supply chain finance (SCF) adoption among small and medium-sized enterprises (SMEs) in developing countries. This study aims to address this relevant research gap and hence, draws on the resource-based view and transaction cost economies to empirically investigate five factors that make SCF adoption practicable among SMEs in Ghana.

The approach involves a sample of 257 SME managers/owners and modelling via structural equations modelling.

All five factors (innovative capability, information sharing, inter- and intra-firm collaboration, external financing and trade process digitization) were found to impact positively and significantly on SCF adoption. The findings provide SME managers/owners with a research model which guides them on how to settle the SCF process.

This paper used a cross-sectional survey, which makes it impossible to access changes over time. In addition, the use of quantitative method limits respondents from expressing their feelings fully. Using a mixed or qualitative methodology will provide avenues for future research.

This paper offers a completive advantage for Ghanaian SMEs to strengthen their relationships while collaborating with each other. The findings suggest that by adopting SCF solutions, SMEs can optimize their liquidity and working capital. The factors underpinning SCF adoption are of incredible attractiveness for SME managers/owners to discover the relevant practice of SCF solutions. SMEs should adopt SCF strategies for improving their capability to respond promptly to transactions.

This paper is among the few papers that have examined these five factors in a developing economy context. The study also provides new understanding of the factors that influence SCF adoption in the context of a developing economy.

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Determinants of supply chain finance adoption among SMEs: evidence from a developing economy10.1108/MEDAR-12-2022-1874Meditari Accountancy Research2023-11-20© 2023 Emerald Publishing LimitedEdward NarteyMeditari Accountancy Researchahead-of-printahead-of-print2023-11-2010.1108/MEDAR-12-2022-1874https://www.emerald.com/insight/content/doi/10.1108/MEDAR-12-2022-1874/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest© 2023 Emerald Publishing Limited