Forthcoming and Online First Articles

International Journal of Managerial and Financial Accounting

International Journal of Managerial and Financial Accounting (IJMFA)

Forthcoming articles have been peer-reviewed and accepted for publication but are pending final changes, are not yet published and may not appear here in their final order of publication until they are assigned to issues. Therefore, the content conforms to our standards but the presentation (e.g. typesetting and proof-reading) is not necessarily up to the Inderscience standard. Additionally, titles, authors, abstracts and keywords may change before publication. Articles will not be published until the final proofs are validated by their authors.

Forthcoming articles must be purchased for the purposes of research, teaching and private study only. These articles can be cited using the expression "in press". For example: Smith, J. (in press). Article Title. Journal Title.

Articles marked with this shopping trolley icon are available for purchase - click on the icon to send an email request to purchase.

Online First articles are published online here, before they appear in a journal issue. Online First articles are fully citeable, complete with a DOI. They can be cited, read, and downloaded. Online First articles are published as Open Access (OA) articles to make the latest research available as early as possible.

Open AccessArticles marked with this Open Access icon are Online First articles. They are freely available and openly accessible to all without any restriction except the ones stated in their respective CC licenses.

Register for our alerting service, which notifies you by email when new issues are published online.

We also offer which provide timely updates of tables of contents, newly published articles and calls for papers.

International Journal of Managerial and Financial Accounting (25 papers in press)

Regular Issues

  •   Free full-text access Open AccessCompetitive advantage in healthcare based on augmentation of clinical images with artificial intelligence: case study of the 'Sambias' project
    ( Free Full-text Access ) CC-BY-NC-ND
    by Alessandra D'Amico, Michele Di Capua, Emanuel Di Nardo, Joanna Rosak-Szyrocka, Giuseppe Tortorella, Giuseppe Festa 
    Abstract: In the era of artificial intelligence, and particularly machine learning and deep learning models, the availability of large datasets is crucial to develop innovative and effective services, especially in the healthcare field. In this context, one essential requirement is access to verified information for contextualising/enriching the data. The SAMBIAS project analysed in this study involves the implementation of a software platform for data sharing in clinical scenarios, with the main objective of providing specific medical datasets to improve the competitiveness of the healthcare organisation from a general point of view. The platform, which is accessible via the web, provides on-demand, augmented sets of clinical situations, based on the enormous amounts of data that are collected by the health information systems of healthcare organisations. The case under investigation here is the Casa di Cura Tortorella s.p.a., Salerno, Italy. The implications of this platform are discussed in terms of more efficient performance.
    Keywords: healthcare; artificial intelligence; machine learning; deep learning; data augmentation; business process management; business process improvement.

  • Exploring the impact of sustainability disclosure on the cost of equity capital in the hospitality and tourism industry   Order a copy of this article
    by Antonio Salvi, Felice Petruzzella, Nicola Raimo, Filippo Vitolla 
    Abstract: Environmental, social and governance (ESG) disclosure has gained increasing importance in recent years due to its ability to provide an overview of sustainable business behaviour. However, despite the attention paid by investors and stakeholders to sustainability information, the hospitality and tourism (H&T) industry is not characterised by a propensity towards ESG disclosure. This circumstance may be related to the lack of awareness regarding the benefits associated with a wide dissemination of ESG information, resulting from the limited presence of academic contributions on the topic. This study aims to fill this important gap by analysing the impact of ESG disclosure on the cost of equity capital in the H&T industry. The regression analysis, conducted on a sample of 1,750 firm-year observations from 2010 to 2019, demonstrates the existence of a negative relationship between ESG disclosure and the cost of equity capital.
    Keywords: sustainability disclosure; ESG disclosure; hospitality and tourism industry; cost of equity capital; COEC.
    DOI: 10.1504/IJMFA.2024.10053522
  • Effect of corporate social responsibility on the stock price synchronicity in China   Order a copy of this article
    by Md Jahidur Rahman, Zeren Xu 
    Abstract: The purpose of this paper is to discover the possible relationship incurred between corporate social responsibility (CSR) and stock price synchronicity in China. A regression model is constructed for the empirical test on a sample of 9,787 firm-year observations from Chinese A-listed firms from 2011 to 2020. Results show a positive relationship between CSR and stock synchronicity, which is robust to alternative variables and have no multi-collinearity problem. This study can guide investors and managers in socially responsible investment decision making in the Chinese stock market.
    Keywords: corporate social responsibility; CSR; stock price synchronicity; China.
    DOI: 10.1504/IJMFA.2024.10053706
  • Financial analysts’ forecast accuracy, informativeness and its implications for market efficiency: Evidence from an emerging market   Order a copy of this article
    by Arit Chaudhury, Seshadev Sahoo, Varun Dawar 
    Abstract: In this work, we study the connection between analyst forecast accuracy and the well-known systematic risk factors of momentum and size, which are important from the market efficiency point of view. Using an extensive 21 years (1998-2018) analyst forecast data for Indian companies extracted from the “Refinitiv Eikon” database for BSE-500 stocks, we evaluate if consensus forecast errors are predictable with respect to size and momentum. Our results indicate the presence of cognitive bias in analysts’ forecasts due to market and stock momentum. We also find that analysts forecast more aggressively for smaller sized companies, particularly in a poorer information environment. To explore the impact of these biased forecasts on market efficiency, we also check for their informativeness. We find that the biased analyst forecasts are informative, thus contributing to market inefficiency, however their informativeness is somewhat reduced, depending on the magnitude of the momentum and size factors.
    Keywords: Analyst forecasts; forecast accuracy; market informativeness; size; momentum.
    DOI: 10.1504/IJMFA.2024.10053983
  • Does the Board of Directors Influence the Likelihood and Resolution of Financial Distress   Order a copy of this article
    by Khaldoon Aldaoud, Ola Bani Yaseen 
    Abstract: The current study investigated the effect of board of directors (i.e., CEO duality, independence, multiple directorships, politically connected directors, and size) on the financial distress measured using Altman’s Z-Scores Model (1968) as a proxy for a firm's financial distress. A panel dataset of 260 firm-year observations from Jordanian industrial corporations listed on the Amman Stock Exchange from 2014 to 2018 was investigated. Using panel mixed-effect regression, the results show that board size and CEO duality have a significant impact in mitigating a firm's financial distress, while board independence, multiple directorships, and politically connected directors with financial distress were not statistically significantly associated with financial distress. These results indicate that a large board size accompanied by CEO duality leads to better oversight, reducing a firm's financial distress. The current study supports stewardship theory arguments that suggest that CEO duality improves the process of decision-making.
    Keywords: Keywords: Board of Directors; Altman’s Z Score; Financial distress; and Jordan.
    DOI: 10.1504/IJMFA.2024.10054474
  • 'One Size Fits All' in Private Banking: Implications for the Wealth and Asset Management Industry   Order a copy of this article
    by Enrica Bolognesi, Enrico Maria Cervellati, Luca Grassetti, Roberto Tasca 
    Abstract: We focus on discretionary portfolio management to examine the impact of advisory on strategic asset allocation and its dynamics. We use a unique and proprietary dataset from a large European private bank of 5,627 clients that covers the period from 2005 to 2013. While high-net-worth clients opt for customized advisory, we show instead that allocations are quite similar across a range of clients; advisors are conservative and favour low-risk profiles regardless of clients’ age. We observe a low number of active clients and provide evidence of the low extra returns generated by changes in the portfolio asset allocation. Finally, we highlight that changes in risk attitude mainly depend on portfolios’ past performance and/or past market performance, suggesting that advisors are not effective in mitigating extrapolation bias and self-attribution bias. Overall, we provide evidence of the low level of tailoring, suggesting a “one size fits all” approach in private banking.
    Keywords: asset and wealth management; advisory; behavioral biases; linear mixed models analysis; private banking; portfolio customization.
    DOI: 10.1504/IJMFA.2024.10054503
    by Anna Roberta Gagliardi, Giuseppe Festa, Demetris Vrontis, Balakrishna Grandhi, Matteo Rossi 
    Abstract: Many studies have analysed clinical pathways (CPs) from different perspectives, but to date, very limited research has investigated the impact of the COVID-19 pandemic on their organisational, managerial, and financial efficiency with respect to non-COVID-19 patients. This study, focusing on a dataset including 749 patients of the Casa Sollievo della Sofferenza Research Hospital (Italy) from January 2018 to December 2021, examined the CPs, as concerns hospitalisation and subsequent organisation, for non-COVID-19 patients with respiratory insufficiency in the intensive care unit (ICU). The main results indicated an increase of the average length of hospitalisation in the pandemic years (with more influence in 2020, while the average length of hospitalisation in 2021 was less than in 2019), a decrease in the number of radiological exams during the pandemic years, and an increase in the number of healthcare workers during the pandemic years. Subsequent implications about organisational, managerial, and financial changes are discussed.
    Keywords: healthcare; COVID-19; clinical pathways; clinical indicators; managerial organisation; financial performance.
    DOI: 10.1504/IJMFA.2024.10055582
  • Social responsibility portfolio optimization in the context of emerging markets   Order a copy of this article
    by Assem Orazayeva, Muhammad Arslan 
    Abstract: This study empirically examines the risk and return performance of the portfolios built with consideration of the firm’s ESG scores. Socially and non-socially responsible portfolios were constructed based on the universe of stocks from 27 developing and emerging countries in Asian, African, Latin American, East European, and Middle Eastern regions covering five years from 2016 to 2020. Three-stage procedure which included social performance evaluation, asset screening, and portfolio optimisation, was performed. Asset weights during portfolio optimisation were determined using two approaches: equally weighted and mean-variance optimisation. As a result, our initial assumption of the superior return performance of the socially responsible investing (SRI) portfolio was not supported. Furthermore, the direction of the difference was contrary to the hypothesised one, observing lower SRI returns compared to other benchmarks, though the result lacks statistical significance. We found lower SRI portfolio risk than the market, which proved to be statistically significant.
    Keywords: ESG; emerging markets; socially responsible; portfolio; investment.
    DOI: 10.1504/IJMFA.2024.10055721
  • Antecedents of Integrated Reporting adoption: Evidence from an Emerging Economy   Order a copy of this article
    by Bhavna Thawani, Meena Bhatia 
    Abstract: This is a pioneer Indian study that examines the adoption of Integrated Reporting (IR) among the listed companies. Specifically, it studies the association of IR adoption with profitability, size, leverage, shareholding pattern (non-promoter holding from an institutional perspective), part of the Environmental, Social, and Governance (ESG) Index, and Board Size of the company. An analysis is conducted on 94 top companies in the Bombay Stock Exchange (BSE) 100 index for 2016-2020. Pooled logistic regression with year-fixed effects is applied, revealing a significant and positive relationship between the adoption of IR with Company Size and the Company meeting sustainability investing criteria by being part of the ESG Index; and a negative but significant relationship with profitability and leverage. We enrich the emerging literature and provide an understanding of the conditions which motivate the adoption of IR, which has become more relevant considering the upcoming International Sustainability Standards Board (ISSB) and International Financial Reporting Standards (IFRS).
    Keywords: ESG; Sustainability Reporting; India; IR; BSE; Shareholding Pattern; Legitimacy theory; Signalling theory; Logistic Regression.
    DOI: 10.1504/IJMFA.2024.10056313
  • IFRS FIRST ADOPTION: THE ONE-SIZE-FITS-ALL APPROACH   Order a copy of this article
    by Cristiane Benetti, Stephanie Thiery 
    Abstract: The main objective of this study is to evidence stakeholders’ perceptions of International Financial Reporting Standards (IFRS) adoption across Europe and Brazil. Through a survey, (795 completed questionnaires - 10% of our sample), we investigated whether accounting data producers (chief financial officers) and gatekeepers (financial analysts and auditors), shared the same views on the usefulness and goals of the international financial reporting process. Descriptive statistics and univariate tests were used to analyse the responses to multiple-choice questions. The main results show that the respondents’ location influences their responses significantly more than the respondents’ occupation.
    Keywords: fair value; International Financial Reporting Standards; IFRS; first adoption; emerging markets; earnings quality.
    DOI: 10.1504/IJMFA.2024.10056565
  • Does Effectiveness of Internal Corporate Governance and Top Management Influence Corporate Performance? The Role of Ownership Concentration   Order a copy of this article
    by Ebrahim Mohammed Al-Matari, Talal Fawzi Alruwaili, Mahfoudh Hussein Mgammal, Nasareldeen Hamed Ahmed Alnor, Mohammed A. Al-bukhrani 
    Abstract: This study investigates the relationship between the efficacy of internal corporate governance and the performance of top management and the corporation. In addition, the current study investigates the moderating influence of ownership concentration on the link between the efficacy of internal corporate governance, top management, and corporate performance. This analysis included listed Saudi Arabian firms between 2014 and 2018. Moreover, this study utilised the OLS regression to examine the direct and indirect link. The findings of this study indicate that the efficacy of internal corporate governance and ownership concentration have a positive and statistically significant relationship with corporate performance (ROA). Furthermore, this study demonstrates that internal corporate governance effectiveness has a negative and statistically significant relationship with business performance (TQ). In addition, this research demonstrates that ownership concentration has a favourable correlation with corporate performance. This study is the first to examine how ownership concentration affects the relationship between efficacy of top management, corporate governance, and corporate performance. It demonstrates the importance of taking the ownership structure into account when assessing the efficiency of top management and corporate governance. In addition, the paper provides a comprehensive synthesis of top management and internal governance procedures.
    Keywords: internal corporate governance; ownership concentration; top management; corporate performance; Saudi Arabia.
    DOI: 10.1504/IJMFA.2024.10056975
  • Fraud detection in financial statement: A study using Beneish Algorithm   Order a copy of this article
    by B.P. Bijay Sankar, Hemant Bhanawat 
    Abstract: The current empirical research study was carried out to forecast earnings manipulation indications of businesses featured on the BSE 100 Index using the probabilistic Beneish M-score 8 variable model. To calculate the M-score, the period restricted from 2011 to 2016 time frame was adopted for the data on investigating financial statements. According to the study’s findings, three ratios, namely total accruals to total assets (TATA), Daily Sales Receivable Index (DSRI), and Sales Growth Index (SGI), were used to identify financial manipulation by Indian corporations. The current effort contributes through publishing by identifying potential earnings manipulators of BSE 100 Index listed businesses that investors desire to invest in equities. This should serve as a wake-up call to regulators and legislators to impose strict checks, balances on the auditing of corporations’ financial records and advises investors to rely on face validation rather than deception of the underlying worth of the company.
    Keywords: earnings manipulation; Beneish M-score; data mining; fraud detection; Indian companies.
    DOI: 10.1504/IJMFA.2024.10057527
  • CSR Expenditure and Company Performance: Financial Evidence from NIFTY 500 Companies   Order a copy of this article
    by Pooja Gupta, Amol Agarwal, Mafruza Sultana, Asit Barma 
    Abstract: The study aims to examine the effect of social responsibility expenditures on corporate performance of companies in India for the duration of five financial years after mandating CSR for Indian companies as per The Companies Act 2013. The study tries to identify whether the impact of CSR expenditure on corporate performance differs or varies on an industry-to-industry basis. The companies considered are traded on the NIFTY 500 Index of National Stock Exchange. Five years of data from the financial year 2013—2014 to 2018—2019 have been collected from the Centre for Monitoring Indian Economy (CMIE) Prowess database. CSR expenditure is seen to have a considerable effect on both returns on assets and Q ratio. The results also show that the impact of CSR expenditure on the corporate performance of businesses in different industries and control variables, size of the firm, and leverage of the firm vary for the industries.
    Keywords: CSR expenditure; social responsibility; performance; financial evidence; NIFTY 500.
    DOI: 10.1504/IJMFA.2024.10057793
  • The role of accounting standards and disclosure in alleviating corruption: A cross-country study   Order a copy of this article
    by Md. Atiqur Rahman  
    Abstract: This study, relying on the notion of agency theory that the presence of information asymmetry causes higher agency costs, investigates the impact of financial disclosure and perceived strength of auditing and reporting standards on perceived corruption. Using data for 71 economies for the period 2010-2017 and utilising pooled ordinary least square (POLS) and two-step system GMM methods, this study finds that both financial disclosure and perceived strength of accounting and auditing standards significantly reduce perceived corruption. Moreover, developing/transition and common law countries may benefit more from better financial disclosure and perceived strong standards, but highly corrupt countries do not benefit from higher disclosure. Additional analysis shows that impact of perceived strong accounting standards on corruption is nonlinear. Audit propensity and quality moderates the relationship between the independent variables and perceived corruption. Mere adoption of accounting/auditing standards cannot cut corruption and perceived standard strength maybe influenced by enforcement of standards.
    Keywords: corruption; accounting standards; financial disclosure; agency theory; generalised method of moments; GMM; International Financial Reporting Standards; IFRS.
    DOI: 10.1504/IJMFA.2024.10058297
  • Determinants of Vietnamese bank profitability: comparisons between before and during COVID-19 pandemic periods   Order a copy of this article
    by Van Thi Hong Pham, Pham Tuan Anh, Kien Duy Do, Mai Thanh Loan 
    Abstract: The study aims to investigate the effect of the COVID-19 pandemic on the profitability of Vietnamese commercial banks by comparing the regression coefficient estimation results in the two periods between before and during COVID-19. We find that the bank profitability is explained by size, equity ratio, provisioning ratio, non-interest service activities, and economic growth. An interesting finding is a change in the direction of the impact of leverage and economic growth on bank profitability. Banks with higher leverage tend to earn more profits in the pre-COVID-19 period, but it becomes a disadvantage for banks during the COVID-19 period. Economic growth has a negative effect on the bank profitability in the pre-COVID-19 period, but the relationship turns positive during the period of the COVID-19 pandemic. Based on these results, our paper proposes several solutions for governmental authorities and bank managers to improve bank profitability under the ‘living together with COVID-19’ context.
    Keywords: COVID-19; commercial bank; bank profitability; Vietnam.
    DOI: 10.1504/IJMFA.2024.10059405
  • Banking Dynamics in MENA: A Study on Profit Catalysts
    by Iman S. Youssef, Charbel Salloum, Adel F. Al Alam 
    Abstract: This study aims to investigate the managerial determinants of publicly listed banks’ performance in the Middle East and North Africa (MENA) region, specifically focusing on the distinction between oil-exporting and oil-importing countries. The research covers the period from 2011 to 2021 and includes selected countries such as Kuwait, Saudi Arabia, United Arab Emirates (oil-exporting), Egypt, Lebanon, and Morocco (oil-importing). By utilising dynamic panel data estimation techniques, two models are developed with return on assets (ROA) and net interest margin (NIM) as dependent variables. Bank-specific independent variables, including size, liquidity, credit risk, and capital adequacy, are analysed along with macroeconomic variables such as GDP and inflation. Data from Thomson Reuters Data Stream for 97 publicly listed banks in the MENA region are employed, and the pooled least squares (OLS), fixed effects (FEM), and random effects (REM) methods are used for data analysis. The empirical findings reveal significant variations in the relationship between selected variables and banks’ profitability, indicating the importance of understanding the determinants of banks’ performance for stakeholders and bank executives to make informed decisions.
    Keywords: performance; credit risk; capital adequacy; banks; Middle East and North Africa; MENA; return on assets; ROA; net interest margin; NIM.
    DOI: 10.1504/IJMFA.2025.10060102
  • Examining Financial Ratios for Non-Financial Firms to Survive Currency Devaluation
    by Iman S. Youssef, Charbel Salloum, Mohamed Abonazel 
    Abstract: This research investigated into the efficiency indicators of 160 non-financial firms listed on the Egyptian stock exchange between 2012 and 2021, a period marked by notable price escalations and currency depreciation. Amid the challenges introduced by the floating exchange rate system, particularly high inflation rates, the research endeavoured to discern valuable insights into a firm’s financial standing through an analysis of financial ratios. Utilising dynamic panel data estimation methods, the study scrutinised the relationship between seven determinant variables and efficiency. Various analytical techniques, including OLS, fixed effects, random effects, and generalised method of moments (GMM), were employed in the data analysis phase. Results highlighted that with the exception of volatility, all variables had a considerably positive impact on efficiency. This research holds significance as it offers potential strategies to mitigate the economic challenges Egypt has grappled with in the recent decade, such as sudden currency value declines and concomitant inflation. It accentuates the crucial role of efficiency indicators in making informed decisions and bolstering financial stability, especially in economically tumultuous scenarios.
    Keywords: non-financial firms listed; efficiency; profitability; leverage; Egypt.
    DOI: 10.1504/IJMFA.2025.10060373
  • The impact of financial factors and advisory services on the viability of cotton, rice, and maize crops in Greece.
    by Alexandra Pavloudi, Maria Tsiouni, Georgios Kountios, Dario Siggia 
    Abstract: In Greece, maize, cotton, and rice industries play a vital role in the economy. Besides being important for human sustenance, it is also important for agricultural development. However, their production’s economic viability and sustainability have been scrutinised. As a result of high production costs, the sector has been less competitive than other countries with more developed farming sectors. The purpose of this article is to discuss the economics of sustainable and viable farming. In order to determine the overall production cost, all economic factors are considered. Principal component analysis was applied to the data. Results showed that by adopting sustainable practices, such as advisory services, the cotton, rice, and maize sector in Greece can increase their competitiveness and viability.
    Keywords: financial factors; viability; cotton; rice; maize; advisory services.
    DOI: 10.1504/IJMFA.2025.10060463
  • Impact of changes in international financial reporting standards on company financial ratios
    by Kristina Rudzioniene, Aiste Tamonyte 
    Abstract: The objective of this study is to assess the impact of the changes of IFRS on the financial ratios of Lithuanian companies. This study analyses the impact of the entry into force of IFRS 16, which is expected to be significant for the assets and liabilities of those entities that use operating leases. The results show that the adoption of IFRS 16 ‘Leases’ increased the liabilities of Lithuanian companies relatively more than their assets. There was a significant increase in debt and long-term debt ratios, leverage and a decrease in the equity ratio and gross liquidity ratio. These changes in these ratios are more indicative of the financial position of companies, as increased leverage ratios are indicative of increased corporate risk. The changes in IFRS 16 led to the largest changes in the financial ratios of Lithuanian companies in the retail and telecommunications sectors.
    Keywords: International Financial Reporting Standards; IFRS; IFRS changes; impact; financial ratios; Lithuania.
    DOI: 10.1504/IJMFA.2025.10060786
  • The Impact of Financial Performance on the Value Relevance of GAAP and Non-GAAP Profitability Measures: Evidence from the Amman Stock Exchange
    by Tareq Mashoka 
    Abstract: This paper aims to examine the impact of a firm’s financial performance on the value relevance of both GAAP and non-GAAP profitability measures in determining its value. The study posits that the value relevance of these measures is influenced by the financial performance of the company. The paper examines the value relevance of the profitability metrics by regressing the market value of equity on the profitability measures for listed firms on the Amman Stock Exchange (ASE) in Jordan from 2001 to 2019. The results show that for firms with consistent financial performance, GAAP profitability measures are more value relevant for investors. However, when firms experience a decline in sales and/or earnings, the results indicate that non-GAAP profitability measures are more value relevant. This paper presents evidence highlighting the significant impact of a company’s financial performance on the value relevance of GAAP and non-GAAP profitability measures in evaluating the firm’s value.
    Keywords: non-GAAP measures; value relevance; financial performance.
    DOI: 10.1504/IJMFA.2025.10060815
  • Capital structure, voluntary corporate governance and credit ratings: evidence from non-listed SMEs   Order a copy of this article
    by Apostolos Dasilas 
    Abstract: This study investigates the capital structure of 26,335 Greek non-listed SMEs during the period 2014-2018 employing a gamut of firm-specific, credit ratings and corporate governance variables. Employing both static and dynamic panel data regression models, the results show that the short-term debt ratio is negatively (positively) related with profitability, tangibility and growth (firm size). The long-term ratio is positively (negatively) associated with profitability, tangibility, and firm age (firm size). Board size exerts a positive effect on the long-term debt ratio, while CEO gender is negatively related to the long-term debt ratio. Finally, higher credit ratings are associated with more debt levels.
    Keywords: capital structure; credit ratings; corporate governance; SMEs.
    DOI: 10.1504/IJMFA.2024.10053100
  • Does policy uncertainty affect earnings quality? Evidence from China   Order a copy of this article
    by Sang Ho Kim, Yohan An 
    Abstract: This study investigates the effects of policy uncertainty (PU) on earnings quality in Chinese firms. It is known that high uncertainty in economic policy has a detrimental effect on the overall economy and affects individual firms' investment decisions as well as cost of capital. Although a number of studies have examined the relationship between financial reporting quality and PU, most findings concern advanced economies or international settings, providing little insight for emerging markets. This study demonstrates that earnings quality deteriorates as PU increases in China because managers have an incentive to intervene in the financial reporting process to alleviate the adverse impact driven by a rise in PU. In addition, we found that Chinese firms are likely to respond heterogeneously to changes in PU, depending on their ownership and industry types.
    Keywords: policy uncertainty; earnings quality; China; discretionary accruals; earning management.
    DOI: 10.1504/IJMFA.2024.10053049
  • The effects of fiscal decentralisation on local finances after the territorial reform of local government in 2015 in Albania   Order a copy of this article
    by Arben Hysi, Elenica Pjero, Grigor Dede, Ashutosh Kolte 
    Abstract: The local government, as the government closest to the community, aims to meet the needs that are the most useful to the community. Local government itself is essentially the result of the decentralisation of central government through the division of the power horizon, depending on the form of government in a political society. The level of efficiency and effectiveness in services and in meeting the needs of the community depends on the functioning deriving from decentralisation in the political, administrative and financial directions. Different countries have a strong tradition in the organisation and functioning of local governments. Citizen sensitivity makes many local administrative and financial decision-making problems for local issues more democratic for direct democracy. Like all Eastern European countries, Albania, after the system changed in 1990, implemented two reforms to regulate the effectiveness and quality of local services for the community.
    Keywords: local finances; fiscal decentralisation; effects of decentralization; territorial reform; local government; Albania.
    DOI: 10.1504/IJMFA.2024.10056809
  • Exploring the disclosure quality of integrated reporting in India   Order a copy of this article
    by Suman Devarapalli, Lalita Mohan Mohapatra, Ammar Jreisat, Sasikanta Tripathy, Somar Al-Mohamad 
    Abstract: Information is one of the elementary and important tools assessed by the corporate stakeholders for strong decision making. Further, providing accurate, transparent, and concise report is always a challenging task. In this context, this groundwork explores the advancement of integrated reporting (IR) in India. Moreover, the exploration also focuses on the level of disclosure and quality of reporting through individual parameters of IR, i.e., four guiding principles (GP), eight content elements (CE), and six capitals of the IR system. The analysis selected annual reports of 81 Indian companies for 2020 and 2021 and examined 162 integrated annual reports by employing a scoring system for converting qualitative information in the integrated reports to quantitative data. The study constructed the capital disclosure index (CDI) and integrated reporting index (IRI) to measure the overall quality of IR. Wilcoxon signed ranks test, the sign test and paired sample t-test were employed to capture the trend of the IR. This study found that quality of IRI improved in 2021 compared to 2020; however, the individual items did not show much variation. This research has practical implications for the top management, market regulators and policy makers.
    Keywords: disclosure quality; integrated reporting; capital disclosure index; CDI; integrated reporting index; IRI; India.
    DOI: 10.1504/IJMFA.2024.10053705
  • The impact of climate change on dividend policy in the UK stock market
    by Fakhrul Hasan 
    Abstract: In this paper we ascertain whether or not below average temperature increases have a positive effect on dividend policy. Using FTSE-350 (UK) data from between 1990 and 2019 we documented those seasonal temperatures that had a significant and methodical effect on the UK dividend pay-out policy, both at the cumulative level and across a wide cross-section of economic sectors. We used dividend changes and average temperature (as a proxy for climate change). Our findings show that the effect is strong for winter, summer and autumn; an increase of below average temperatures has positive effects on dividend pay-out policy. This study also looks at industry dynamics to show whether particular industries have any effect on particular sessions on UK dividend policy. The results show that three sessions have a significant effect on dividend pay-out policy and stock market returns and one session has no effect.
    Keywords: climate change; temperature; dividend changes; panel data.
    DOI: 10.1504/IJMFA.2024.10053784