Journal of Financial Reporting最新文献

{"title":"Putting integrated reporting where it was not: The case of the not-for-profit sector","authors":"Laura Girella, P. Dameri","doi":"10.3280/fr2019-002005","DOIUrl":"https://doi.org/10.3280/fr2019-002005","url":null,"abstract":"Nowadays we are facing a new phase of capitalism. Information that is beyond financial capital and able to provide a more comprehensive picture of the path towards better transparency and accountability is increasingly needed and requested. A remarkable body of evidence already exists on how large, listed companies are facing this change, but very little is known about the not-for-profit sec-tor. This work aims to analyse if and how new forms of reporting, such as integrat-ed reporting, can be adopted by not-for-profit organisations to illustrate their ef-forts towards an improvement in their accountability processes. To this end, through an interventionist approach, the case of an Italian not-for-profit organisa-tion operating in the collection and redistribution of food is examined. It emerges that, integrated reporting can represent a valuable device that can be adopted also by the not-for-profit sector to improve its accountability. However, in order to be successfully implemented, some modifications have to be made in order to better encounter the specificities of these organisational settings.","PeriodicalId":42044,"journal":{"name":"Journal of Financial Reporting","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84354622","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Systematic literature network analysis in accounting: A first application on integrated reporting research","authors":"N. Comerio, Patrizia Tettamanzi","doi":"10.3280/fr2019-002004","DOIUrl":"https://doi.org/10.3280/fr2019-002004","url":null,"abstract":"A Over the past decade, we have been witnessing an exponential growth in the number of publications on Integrated Reporting, with the aim of exploring challenges, opportunities and implications of its adoption. Given the abundance of studies, which are often characterized by conflicting evidences, it can be complex to pinpoint all the seminal works already published: it raises the need to develop methodologies which can help to screen the existing literature and to detect the articles which contribute the most to the scientific research. However, little is known about structured approaches in accounting studies: thus, in order to extract the backbones of the research tradition on Integrated Reporting, in this paper we apply the dynamic literature review method called \"Systematic Literature Network Analysis\", which combines systematic literature review and bibliographic network analysis. Furthermore, our findings confirm how this methodology may be exploited as a research tool to support dynamic analyses for drawing agendas for future research in the accounting fields of study.","PeriodicalId":42044,"journal":{"name":"Journal of Financial Reporting","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81855076","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Informativeness Assessment of Risk and Risk-Management Disclosure in Corporate Reporting: An Empirical Analysis of Italian Large Listed Firms","authors":"F. D. Luca, Ho-Tan-Phat Phan","doi":"10.3280/fr2019-002002","DOIUrl":"https://doi.org/10.3280/fr2019-002002","url":null,"abstract":"Purpose Risk-related information is prevalently used in the decision-making process by various counterparties. Therefore, this study investigates how compa-nies conduct their risk-disclosure practice after the new Italian Legislative Decree No. 254 of December 30, 2016. In particular, we draw attention to three aspects: (1) the interaction relationship among risk or risk management (RRM), industry, type of risk, and level of specific disclosure; (2) the variation of specific level of disclosing risk-related information across the industries and types of risk; and (3) the different behavior between risk and risk-management disclosure in the after-math of the regulation’s issuance. Design/methodology/approach The study is based on a sample of large un-dertakings and groups that are subject to the Legislative Decree. Two phases of content analysis were executed to analyze the risk and risk-management disclosure. The research questions were investigated with the row effects loglinear model. Findings Our result shows that there are interaction relationships among RRM, type of risk, industry, and level of specific disclosure. Companies provide risk-related information at different levels of specificity depending on whether the information is risk description or risk management, the firms are operating in manu-facturing or nonmanufacturing, and the type of risk that the firms disclosed in their reports. Practical implications The paper provides evidence of inconsistent company behavior in disclosing company-specific information in favor of internal and ex-ternal stakeholders, particularly by balancing company-specific disclosure be-tween risk descriptions and risk-management policies. Policymakers might also consider this current phenomenon to decide to what extent disclosure requirements should be detailed and, instead, what room should be left for management discre-tion with respect to users’ needs. Originality/value This paper is an up-to-date assessment of Italian firms’ compliance with Legislative Decree No. 254 of December 30, 2016.","PeriodicalId":42044,"journal":{"name":"Journal of Financial Reporting","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87927268","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Beyond financial reporting disclosures","authors":"Bruce Behn, F. Rossignoli, S. Corbella","doi":"10.3280/fr2019-002001","DOIUrl":"https://doi.org/10.3280/fr2019-002001","url":null,"abstract":"","PeriodicalId":42044,"journal":{"name":"Journal of Financial Reporting","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88005451","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Beyond Financial Reporting. Integrated Reporting and its determinants: Evidence from the context of European state-owned enterprises","authors":"G. Nicolò, Gianluca Zanellato, Francesca Manes‐Rossi, Adriana Tiron-Tudor","doi":"10.3280/fr2019-002003","DOIUrl":"https://doi.org/10.3280/fr2019-002003","url":null,"abstract":"Integrated reporting (IR), which aims to overcome the limitations of both tradi-tional financial and stand-alone non-financial reports, has gained momentum as a single comprehensive tool merging financial and non-financial information. Initially conceived for private sector entities, IR is also establishing itself in the public sector context as a vehicle for transparency and accountability. This research offers an empirical investigation of IR practices in the State-Owned Enterprises (SOEs) context. More specifically, the paper investigates the levels of disclosure provided through IR by a sample of 34 European SOEs and explores the effects of potential explanatory factors. The results indicate a fair level of IR disclosure and a trend of reporting information already requested under international accounting standards. The findings also highlight that industry (basic materials and financials) and size positively influence the level of IR disclosure in a particularly strong way, while governance features (board size and board gender diversity) and the provision of external assurance do not exert any impact.","PeriodicalId":42044,"journal":{"name":"Journal of Financial Reporting","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75497644","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Dialogue with standard setters","authors":"Stefano Bianchi","doi":"10.3280/fr2019-002006","DOIUrl":"https://doi.org/10.3280/fr2019-002006","url":null,"abstract":"The new accounting standard IFRS 16 Leases is the result of a long process of review of the criteria for recognizing and evaluating the lease on the financial statements. The need to promote a revision of the accounting criteria on leasing has been felt by many players of the financial system. IASB, FASB, EFRAG, financial institutions, auditors and preparers have supported a debate on leasing over the years, which has underlined the im-portance of representing and assessing the operating leases in the financial statements with criteria similar to the criteria utilised for the financial leasing in order to improve the quality and comparability of the financial information. The new standard IFRS 16 Leases will be effective for annual reporting periods begin-ning on or after 1 January 2019 and it will bring significant changes in accounting require-ments for lease accounting, primarily for lessees, replacing the existing suite of standards and interpretations on leases as per follows: - IAS 17 Leases (IAS 17) - IFRIC 4 Determining whether an Arrangement contains a Lease (IFRIC 4) - SIC 15 Operating Leases - Incentives (SIC 15) - SIC 27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease (SIC 27). The purpose of the following review is to analyse some of the main issues arising from the adoption of IFRS 16 Leases supported by the results of a recent effect analysis.","PeriodicalId":42044,"journal":{"name":"Journal of Financial Reporting","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74941094","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Cross-Listings and Voluntary Disclosure: International Evidence","authors":"Long Chen, Yashu Dong, Jeffrey Ng, Albert H. C. Tsang","doi":"10.2308/jfir-52576","DOIUrl":"https://doi.org/10.2308/jfir-52576","url":null,"abstract":"This paper examines changes in firms' disclosure behavior around cross-listings. Using an international setting, we find significant differences in management forecast likelihood and frequency between cross-listed firms and firms with similar characteristics but that are not cross-listed; particularly when differences in accounting standards between a cross-listed firm's home and target countries are larger. Further, we find that firms choosing to cross-list in target countries with larger accounting standards differences tend to provide more voluntary disclosure during the two years preceding a new cross-listing, rather than during the earlier time periods or the period after cross-listing, and such voluntary disclosure helps firms attract more foreign institutional ownership in their cross-listing target countries. Collectively, our evidence suggests that although differences in accounting standards across countries deter firms' cross-listing activities, cross-listed firms, by providing more management forecasts voluntarily, preemptively alleviate the information disadvantage faced by foreign institutional investors.","PeriodicalId":42044,"journal":{"name":"Journal of Financial Reporting","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89032111","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Another Consequence of SFAS 123R: Equity Compensation to Retirement Eligible CEOs","authors":"S. Balsam, K. Song","doi":"10.2308/jfir-52557","DOIUrl":"https://doi.org/10.2308/jfir-52557","url":null,"abstract":"\u0000 SFAS 123R, which mandates expensing the fair value of equity compensation over its vesting period, requires companies expense the entire fair value on the grant date when a retirement eligible employee is allowed to retain that compensation even if s/he retires prior to the end of that vesting period. From the firms' point of view, SFAS 123R makes equity compensation less attractive for executives approaching retirement. Consistent with this hypothesis, our results show that relative to younger executives, equity compensation decreases for executives approaching retirement post-SFAS 123R. We find evidence consistent with this decrease varying with the negotiating power of the employee, i.e., when we decompose our sample into CEO versus non-CEO named executive officer we only find a decrease for non-CEOs. We also find evidence consistent with firms differentially responding to this requirement, i.e., we find that new economy firms are less likely to reduce equity compensation.","PeriodicalId":42044,"journal":{"name":"Journal of Financial Reporting","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84664030","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Dialogue with standard setters. Disclosure initiative and related research projects","authors":"Raffaele Fiume, T. Onesti, Stefano Bianchi","doi":"10.3280/FR2019-001005","DOIUrl":"https://doi.org/10.3280/FR2019-001005","url":null,"abstract":"The disclosure in financial statements is one of the pillars of the framework of the International Financial Statements (IFRS). All the standards include a relevant section with indication about the information and data to be disclosed in the notes, however the feedbacks received from the stakeholders and users indicated the existence of concerns about the effectiveness of disclosures in financial statements and about the disclosure overload. In order to respond to the above concerns and feedbacks, the International Accounting Standards Board (IASB) launched the Disclosure Initiative in 2013. The Disclosure Initiative is a multi-faced project that involves various IFRSs aiming to limit the disclosure in the financial statements and improving the financial information, it is part of the global project \"Better Communication in Financial Reporting that will be implemented in order to improve the way financial information is prepared by the IFRS entities. The purpose of the following review is to analyse the different stages of the Disclosure initiative between the four completed phases and the on-going projects and to comment its results.","PeriodicalId":42044,"journal":{"name":"Journal of Financial Reporting","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2019-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88839619","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Signing the letter to shareholders: Does the Signatory's role relate to impression management?","authors":"Saverio Bozzolan, Giovanna Michelon, M. Mattei, Andrea Giornetti","doi":"10.3280/FR2019-001002","DOIUrl":"https://doi.org/10.3280/FR2019-001002","url":null,"abstract":"In this paper, we study whether and how impression management in the letter to shareholders (LTS) is affected and related to the role of signatory (i.e. the person whose signature appears in the letter). Specifically, we argue and expect that impression management is associated with the underlying incentives to mislead outsiders that stem from the role of signatory. We find that impression management is more present when Insiders (executives or major shareholders) sign. We also find that the highest level of impression management is when the signatory holds an executive position and is not a major shareholder. Our evidence also suggests that the dichotomous classification between Insiders and Independent Directors is not sufficient to explain cross-sectional variation in impression management.","PeriodicalId":42044,"journal":{"name":"Journal of Financial Reporting","volume":null,"pages":null},"PeriodicalIF":1.5,"publicationDate":"2019-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89471674","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}