Forthcoming articles


International Journal of Managerial and Financial Accounting


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International Journal of Managerial and Financial Accounting (11 papers in press)


Regular Issues


  • Board Characteristics and the Level of Compliance with IAS 1 in Bahrain   Order a copy of this article
    by Abdalmuttaleb M.A. Musleh Al-Sartawi, Fatema Al Rawahi, Zakeya Sanad 
    Abstract: This paper aims to investigate the association between board characteristics and the level of compliance by 39 firms listed on the Bahrain Bourse for the financial year ending 31 of December 2015 and report the underlying firm characteristics influencing the disclosure compliance of Bahraini firms with International Accounting Standards (IAS 1). A disclosure index is used to measure the extent of compliance with IAS 1. A multiple linear regression model was used to assess the association of board characteristics with the extent of compliance with mandatory IAS 1 disclosure requirements. The findings indicate that there is a significant and negative relationship between CEO non-duality, board size, ownership of top stockholders, and the level of compliance with IAS 1 disclosure. The results of the analysis provided in this research should be particularly relevant to regulatory bodies and standard setters. This study might also help when formulating forward-looking disclosure strategies by managing the composition and characteristics of the board of directors. Additionally, the study contributes to financial reporting literature relating to the GCC countries, mainly Bahrain.
    Keywords: Board Characteristics; IAS; Corporate Governance; Information Asymmetry; Corporate Disclosure; Bahrain.

  • An exploratory investigation of an integrated model of Costing Practices in Small and Medium-sized Enterprises   Order a copy of this article
    by Abolfazl Amanollahnejad Kalkhouran, Bahareh Hossein Nezhad Nedaei, Siti Zaleha Abdul Rasid 
    Abstract: The purpose of this paper is to investigate the effect of perceived environmental uncertainty (PEU) and CEOs involvement in networks on costing practices and, in turn, the mediating effect of costing practices on company performance. A model is advanced and tested using PLS path modelling. Data were collected from a sample of 138 SMEs in Malaysia. The PLS path models results provide support for all of the hypothesised relationships. This study provides empirical evidence on the impact of PEU and CEOs involvement on the costing practices usage by considering contingency theory and upper echelon theory simultaneously for explaining relationships and developing a new model.
    Keywords: Costing practices; Perceived environmental uncertainty; Involvement in networks; Company performance; Small and medium enterprises.

  • Expropriation by the controlling shareholders on firm value in the context of Indonesia: corporate governance as moderating variable   Order a copy of this article
    by Ika Utami Widyaningsih, Ardi Gunardi, Matteo Rossi, Rahmawati Rahmawati 
    Abstract: This research discusses the influence of cash flow right, control right and cash flow right leverage on firm value. This research also discusses the influence of independent commissioners and independent directors as moderating variables of cash flow right leverage on firm value. Firm size and profitability are also included in this study as control variables. The research has 83 public corporations as research sample. All of the firms kept on the list during observation period that is from 2007 until 2010. Cash flow right and control right of the controlling shareholders can be shown by investigating ownership structure of public corporations by using ultimate ownership. The result of statistical test indicates that cash flow right is the dominant variable influencing firm value. The result shows that cash flow right has a positive effect on firm value, indicating that firm value increases as cash flow right of the controlling shareholder increases. Other variables are inconsistent when tested by using moderating variable or by adding control variables. Firm size has negative effect on firm value, and profitability has positive effect on firm value.
    Keywords: cash flow right; control right; cash flow right leverage; expropriation; firm value; Indonesia.

  • Managements Means and Incentives to Manage Earnings an Integrated Study in the Italian Market   Order a copy of this article
    by Alessandro Giosi, Marco Caiffa, Lucia Pera, Lorena Ferro 
    Abstract: This paper provides a methodological contribution to the existing research on earnings management by seeking evidence of how single components affect total Discretionary Accruals (DA). In this context, the purpose of our analysis is to understand, through the introduction of qualitative variables, how financial performance threshold values (Burgstahler and Dichev, 1997), expressed in terms of earnings adjusted by non-recurring items, results in manipulation and creates an incentive for managerial behaviour. Considering a sample of 126 Italian companies listed on the Milan Stock Exchange (MSE) from 2007-2012, the study demonstrates that provisions for liabilities and charges, the assets impairment loss and net deferred tax liability are de facto used to manage earnings. If a firm has a profit (or loss) in the year t, it has a tendency to positively (or negatively) manage earnings in the same year. Furthermore, the starting situation plays a significant role since it becomes a relevant threshold for the adoption of earnings management policies. In spite of the significance of the thresholds considered, their impact on the single components analyzed is moderate. Moreover, the financial crisis was not neutral as regards earnings management. Our findings show that during the financial crisis managers tended to increase the value of negative manipulations.
    Keywords: Earnings Management; Provisions; Impairment Loss; Deferred Taxes; Threshold Values; Financial Crisis.

  • Some Restraints of Earnings Management Incidence: Evidence from FTSE-350   Order a copy of this article
    by Malek Alsharairi, Khaldoon Iqtait 
    Abstract: This paper examines the role of audit quality and board characteristics as potential restraints of earnings management incidence. Using a UK sample of 174 companies from FTSE-350 as of January 2011, we report that audit quality plays a key role in restraining the magnitude of discretionary accruals, measured by a cross-sectional performance-matched accruals model. Moreover, the multivariate analysis reveals that board members level of commitment and their devotion, indicated by the frequency and attendance of board meetings, have a vital role in alleviating earnings management. Nevertheless, we could not find evidence that links board independence to earnings management incidence in our sample.
    Keywords: Audit Quality; Board Characteristics; Board Meetings; Attendance; Corporate Governance; Abnormal Accruals; Audit Fees; Earnings Management.

  • Financial management of publicly funded research activities: an explorative study   Order a copy of this article
    by Marco Romano, Melita Nicotra, Armando Papa, Emilia Castello 
    Abstract: This research deals with the analysis of financial , with a specific focus on cash flows, within in-house publicly controlled companies operating in high-technology sectors and characterized by the relevant participation in research projects financed by the European Structural Funds. To this end, three research questions were formulated relating to the liquidity cycle of such organizations. They focus respectively on the risk and return trade-off, on the variability of their cash flows and on the relation between the liquidity and the yields of the financial tools owned. A public‒private consortium was the subject of analysis to answer the research questions. Specifically, the Miller‒Orr model was applied to the consortiums cash flows to provide managerial recommendations for the future and a course of action.
    Keywords: Financial management ; In-house public controlled companies; Publicly-funded Research.

  • Organizational Influences on Management Accounting Toolkits in Chinese Enterprises: An Exploratory Study   Order a copy of this article
    by Rolf Ritsert, Robert Rickards 
    Abstract: The purpose of this paper is to investigate Chinese management accounting practice regarding the question whether enterprises use a common set of management accounting instruments. In addition, the study explores the influence of selected organizational variables on the adoption of specific management accounting practices (MAPs). It utilizes a Mandarin-language online survey of key actors and evaluates selected information from personal interviews with CFOs in Mainland China. The research finds no evidence of a common mix of management accounting tools in the sample of Chinese enterprises under investigation. Moreover, the study demonstrates that organizational variables have a significant impact on specific management accounting tools.
    Keywords: management accounting; China; state-owned enterprises; privately-owned enterprises; organizational factors.

  • Undertaking of Environmental Accounting Responsibility to Achieve Sustainable Development Evidence from Jordanian Chemical and mining companies   Order a copy of this article
    by Mohammad Aladwan 
    Abstract: This study is aimed discuss and review the concept of environmental accounting and its contribution to sustainable development. Community started to practice more pressure on government and companies to sustain their national resources and their environment. Therefore, almost all Companies started to work alongside with governments to solve the side effects of environmental problems through adopting the necessary accounting standard and necessary legislations that guide company actions to meet its social requirements. This study used a sample of Jordanian chemical and mining companies the most dominant type to investigate the study issue. A structured questionnaire distributed to the staff of these companies to examine their opinions about availability of environmental accounting in companies systems. The general findings of the study revealed that Jordanian companies committed to environment legislations; environment accounting concept and methods in addition to their commitment for social responsibility as a part of sustainable development. The study finally discussed some of the difficulties for implementing environmental accounting and provided the proper solutions and recommendations for the success of implementing environmental accounting methodologies.
    Keywords: Environmental accounting; social responsibility; sustainable development; Jordan; industrial companies.

  • Equities issues and long term firms performances in Tunisian Stock Market   Order a copy of this article
    by Wissem Daadaa, Hatem Mansali 
    Abstract: This paper investigates the long-run performance of SEO firms in Tunisia. We use event time and calendar time approach to measure the long-run performance of SEO firms. The results suggest that SEO firms underperform in the long-run, and this underperformance is robust according to alternative measures. In the cross-section, we show that the runup, market runup and the proceeds from SEO are significant determinants of the underperformance of SEO firms. These results are in accordance with both behavioral theories and real options theory. To distinguish between these two theories, we analyze the average systematic risk dynamics around SEO. The results suggest that there is an increase in risk before the offering, and a significant decrease of risk after the offering. The behavior of risk around SEO appears consistent with real options predictions.
    Keywords: equities issues; abnormal return; market reaction; shares prices.

Special Issue on: Advances in Managerial and Financial Accounting, Theory and Practice Managing the Intangible and Disclosing the Business Performance in Emerging and Traditional Markets

  • IFRS and IPO Underpricing: Evidence from Italy   Order a copy of this article
    Abstract: This study examines the impact of the IFRS adoption on IPO underpricing; the latter is, as known, the positive spread between the first day of trading closing price and the offer price of a newly issued share. The underpricing phenomenon is usually associated with the information asymmetry among the actors involved in the process of listing. Some scholars suppose that IPO firms usage of the IFRS, rather than the domestic GAAP, affects IPO underpricing through two mechanisms: (1) the quality, and (2) the comparability of the financial reports. Our study is the first research that studies the impact of the IAS/IFRS on the IPOs underpricing in the Italian stock market. We find that the IFRS adoption is not associated with a decrease in IPO underpricing and that the trend of the financial market is the only factor associated with this phenomenon. Referring to the Italian stock market, our results suggest that the IFRS adoption does not reduce information asymmetries among investors, probably due to the lax of enforcement which seems to characterize the Italian environment.
    Keywords: IPO; International Financial Resporting Standards; Underpricing; Performance; Financial market;.

  • Determinants of mandatory goodwill disclosure: The case of impairment testing in Germany   Order a copy of this article
    by Laurent Lazar, Patrick Velte 
    Abstract: Goodwill accounting standards, according to International Financial Reporting Standard 3 (IFRS 3) and International Accounting Standard 36 (IAS 36), oblige firms to describe the circumstances that form the basis of the annual impairment testing. We observe that managers interpretation or application of the IFRS is associated with the information content disclosed in financial statements. The use of boilerplate instead of firm-specific information decreases the information quality. This study investigates the disclosure quality of goodwill impairment testing under the IFRS of German listed companies between 2010 and 2015. Our results provide evidence that firm performance and goodwill impairment losses are positively linked to the quality of goodwill impairment disclosure. Furthermore, the results show that the magnitude of reported goodwill is negatively associated with the disclosure quality. Our findings are robust to additional tests and make several contributions to further research, regulation, and practice.
    Keywords: impairment only approach; IAS36; disclosure quality; goodwill.