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International Journal of Managerial and Financial Accounting

International Journal of Managerial and Financial Accounting (IJMFA)

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International Journal of Managerial and Financial Accounting (26 papers in press)

Regular Issues

  • THE IMPACT OF THE COVID-19 PANDEMIC ON CLINICAL PATHWAYS IN INTENSIVE CARE UNITS-A CASE STUDY WITH A MANAGERIAL PERSPECTIVE   Order a copy of this article
    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
     
  • Firms’ Operating Leverage and External Shocks: Does Economic Policy Uncertainty matter
    by Taher Hamza, Zeineb BARKA 
    Abstract: This paper investigates the association between operating leverage and economic policy uncertainty based on a sample of French listed firms over 2002-2021. We provide robust evidence that firms tend to lower their operating leverage when economic policy uncertainty increases. This result continues to hold after controlling for endogeneity and conducting a series of robustness tests. Based on the real options theory framework, our results imply that, in an uncertain economic environment, firms may be inclined to cancel or defer their risky investment projects to avoid sunk costs. Our cross-sectional tests further demonstrate that the influence of economic policy uncertainty on operating leverage is less prominent in firms with high profitability and investment intensity. These pieces of evidence contribute to the scarce literature on the exogenous determinants of operating leverage and have practical implications for both investors and regulators.
    Keywords: economic policy uncertainty; operating leverage; firms profitability; investment intensity.
    DOI: 10.1504/IJMFA.2025.10060941
     
  • Accounting Manipulations in Public Sector: an Empirical Analysis of European Union Countries’ Accounts
    by Sandro Brunelli, Alessandro Giosi, Marco Caiffa, Riccardo Savio 
    Abstract: This paper detects whether and to what extent accounting manipulations take place during the reconciliation process from government accounts (GA) to national accounts (NA) when preparing the EDP tables required by the European Commission to each country. In the literature, different theories explain the ‘why’ of accounting manipulations and different models exist to detect ‘how’ accounting manipulations occur. However, there are scant of investigations aim to measure the same phenomenon in the public sector. Investigating a period between 2002 and 2020, our findings show that accounting manipulations exist and have a wider diffusion across European countries. We feed the existing literature by highlighting the magnitude of accounting manipulations and to what extent existing differences between the GA and NA would automatically produce biased results. Finally, we design a new path towards selected fine tuning actions of GA and NA standards for the sake of a clearer European Union fiscal policy.
    Keywords: accounting manipulation; government accounting; GA; national accounting; NA; accrual accounting; earnings management; European fiscal policy; excessive deficit procedure; EDP.
    DOI: 10.1504/IJMFA.2025.10061006
     
  • Market Return Volatility Under Renewable Lease Contracting “Comparative Approach Between IFRS 16 and IAS 17”   Order a copy of this article
    by Mohammad Aladwan  
    Abstract: The current research is an attempt to donate for accounting standards framework by examining the contribution for adopting the new leasing standard IFRS 16 that replaced the previous IAS 17 for leasing. The study investigation centred on detailed comparison between firm’s performance results pre and post the inclusion of the new standard. The reported accounting information about stock market price, market value, net income, market to book value and market to cash flow were assessed before and after the adoption of the new leases standard through compare of means and regression variations to identify any changes if found. The findings of our inspection revealed significant economic consequences for IFRS 16 on the selected variables; thus a supportive evidence was established for the ability of emerging markets for imitate any changes in international accounting standards.
    Keywords: leases; IFRS 16; IAS 17; stock price; market value volatility; net income; M-BV; M-CF.
    DOI: 10.1504/IJMFA.2025.10061449
     
  • Earnings Quality as a Predictor of Firm Performance: Empirical Analysis in the USA   Order a copy of this article
    by ADEL ALMASARWAH, Ahmed Al-Omush, Yahya Marei, Humoud Almutairi 
    Abstract: This study explores the link between firm performance and earnings quality in the USA, employing real earnings management (REM) and accruals earnings management (AEM) models. Through panel data robust regression analysis, we assess firm performance proxies, including return on assets, return on equity, operating cash flow, cash ratio, current ratio, and receivable accruals. Results highlight the significant impact of measures such as return on assets, return on equity, operating cash flow, cash ratio, current ratio, receivables accruals ratio, leverage, and firm industry on earnings quality. Notably, increasing liquidity and higher debt positively influence earnings quality, particularly in low-interest-rate environments. However, qualitative insights are essential for a comprehensive understanding of firm performance. Varied firm performance metrics exhibit distinct impacts on earnings quality, with return on assets and return on equity having the most significant effect. This research, integrating real and accrual earnings management, contributes original insights into corporate earnings management and firm performance in the USA context.
    Keywords: Firm Performance; Earning Quality; ROA; ROA and Operating Ratio.
    DOI: 10.1504/IJMFA.2025.10061654
     
  • Financial Management Behaviour among Youth: Is Financial Literacy a Panacea?   Order a copy of this article
    by Chong Yang Sim, Chee Hua Chin, Ek Tee Ngian, Jackson Jung Wei Wong 
    Abstract: The COVID-19 pandemic’s impact on young Malaysians’ financial situation has led to repercussions in their financial management behaviour, affecting their lives. Financial literacy is seen as the panacea to addressing the challenges of youth’s financial management. Using partial least squares structural equation modelling (PLS-SEM) technique, this study aims to investigate the influence of money attitude, financial prudence, self-efficacy, financial avoidance, and financial literacy on the financial management behaviour of limited income youth in Sarawak, Malaysia. The study also examine how financial literacy moderates the relationship between these predictors and financial management behaviour. The findings revealed positive associations between financial avoidance, financial prudence, and financial literacy with financial management behaviour. Although financial literacy did not act as a moderator, it directly influenced financial management behaviour. Policymakers should prioritise financial literacy programs to enhance financial prudence and mitigate the risks associated with poor financial management behaviour among Malaysian youth, particularly those from limited income backgrounds.
    Keywords: financial literacy; financial management behaviour; low-income Malaysian; youth.
    DOI: 10.1504/IJMFA.2025.10061881
     
  • ESG Measurement: An Interdisciplinary review using Scientometric Analysis   Order a copy of this article
    by Monica Singhania, Gurmani Chadha, Dimple Gupta 
    Abstract: The measurement of ESG has become essential for companies to determine the return on investment (ROI) of their ESG initiatives, and for stakeholders to assess companies’ commitment and hold them accountable. Despite approximately $30 trillion of professionally managed assets being subject to ESG criteria, comprehensive literature reviews encompassing this research domain is scarce. The present study conducted a scientometric analysis to systematically synthesise the extant research in the ESG measurement field using a corpus of 2,387 articles from WoS and Scopus, published between 1992-2021, employing CiteSpace software. Domain visualisations were created to identify co-authorship networks, subject categories, and country and institution analysis, and content analysis was performed to identify the significant research areas, trends, and patterns of ESG measurement research globally. The findings revealed exponential increase in publications on ESG measurements over the past three decades. Emerging research themes and implications for policymakers, society, managers, and academia have been detailed.
    Keywords: ESG measurement; sustainability metrics; sustainability indicators; bibliometric; scientometric; literature review; CiteSpace.
    DOI: 10.1504/IJMFA.2025.10062316
     
  • The response of accounting educators in incorporating significant new accounting standards in the curriculum in Indonesia   Order a copy of this article
    by Aria Farah Mita, Sylvia Veronica Siregar 
    Abstract: Educators play a strategic role in the successful adoption and implementation of the IFRS due to their responsibility in preparing students for the profession. However, the dynamic nature of the IFRS poses a challenge. This research aims to examine the responses of educators in incorporating new and significant accounting standards into course materials. The study focuses on IFRS 9, IFRS 15, and IFRS 16 which differ significantly from previous standards. The 243 financial accounting educators from several universities in Indonesia were surveyed. The results show that most of the educators were late responders in incorporating the new accounting standards. A total of 49% were late for IFRS 16, 64% were late for IFRS 9, and 70% were late for IFRS 15. The study recommends that educators incorporate newly published standards before they become effective so that students can master them by the time they graduate and when those standards apply.
    Keywords: financial accounting; IFRS adoption; accounting education; accounting curriculum; Indonesia.
    DOI: 10.1504/IJMFA.2025.10062686
     
  • Broadening the lens: capital structures and company performance in a new economy   Order a copy of this article
    by Peixuan Wu, Muhammad Irfan Khan, Imran Zaman, Saghir Ghauri, Miao Miao 
    Abstract: The paper aims to examine factors that influence capital structure decisions of sugar and cement sector firms of Pakistan. The research incorporates firms specific along with macro-economic determinants of capital structure. As a test case, 29 sugar sector and 17 cement sector firms, listed in Pakistan Stock Exchange (PSX), were selected. The data consists of ten years period, covering the years 2010-2021, using PLS technique. The results showed significant impact of GDP, INF, GO and PROF on capital structure decision of sugar sector firms whereas for cement sector, FS and PROF are significant factors. The results supported trade-off as well as pecking order theories, indicating that no single theory completely explains the situation of capital structure of Pakistan sugar and cement firms. Firms should consider the impact of selected variables while making capital structure decisions as ultimately it affects cost of capital which in result influences shareholders’ wealth.
    Keywords: capital structure; profitability; firm size; growth opportunity; earnings volatility; ownership concentration; GDP; inflation rate.
    DOI: 10.1504/IJMFA.2025.10062890
     
  • A retrospective of earnings management research: charting the knowledge base, intellectual structure, and way forward   Order a copy of this article
    by Priyam Mendiratta, Smita Kashiramka, Surendra Singh Yadav 
    Abstract: Owing to the dearth of comprehensive synopses in the published literature, this study endeavours to uncover the knowledge base and intellectual structure of ‘earnings management’ research. Over 2000 to January 2021, 1,678 articles from peer-reviewed journals are examined. Bibliometric analysis is used to identify the most prominent years, countries, journals, authors, articles, and keywords. Citation network, co-authorship analysis, and keyword co-occurrence analysis uncover the knowledge base. Cluster analysis of 138 articles coupled with content analysis delineates the intellectual structure. The publication trend reveals that research on earnings management has gathered momentum from 2015-2016, with accounting journals being the most productive. Developed countries like the USA, Australia, the UK, and parts of Europe dominate the landscape, with China as an exception. Six major clusters emerge. Network analysis illustrates the evolution of clusters over time. Keyword analysis reveals the advancement of earnings management as a multidisciplinary field, with studies on corporate governance taking centre stage. The study helps scholars to gauge the current stock of literature and the way forward on earnings management research, enables governing bodies to make policy-oriented efforts, and sensitises managers in instituting accountability.
    Keywords: earnings management; managers; bibliometric analysis; intellectual structure; knowledge base.
    DOI: 10.1504/IJMFA.2025.10063179
     
  • An investigation of the impact of financial reporting standards on the quality of accounting knowledge: a sample study from Turkey   Order a copy of this article
    by Cennet Gürbüz, Ismail Bekci, Eda Oruç Erdogan 
    Abstract: This research focuses on the changes in earnings management practices of manufacturing industry companies traded on Borsa Istanbul with the implementation of Turkish Financial Reporting Standards (TFRS) and Turkish Accounting Standards (TMS). Real earnings management and accrual-based earnings management are examined to reveal the effects of standards on the quality of accounting knowledge. In the study, panel data analysis is applied by considering the year 2005 in the separation of the periods pre- and post-TMS-TFRS. The findings point to an increase in accrual-based earnings management in the post-TMS-TFRS period. It has been determined that there has been an increase in the quality of accounting knowledge with the decrease in real earnings management practices in the post-TMS-TFRS period. The results regarding the substitutability of earnings methods show that there is a substitution between the two methods in the pre-TMS-TFRS period, but the methods complement each other after TMS-TFRS.
    Keywords: TMS-TFRS; accounting knowledge quality; earnings management; accrual-based earnings management; AEM; real earnings management; REM; Turkey.
    DOI: 10.1504/IJMFA.2024.10063397
     
  • Impact of board attributes on corporate cash holdings: evidence from India   Order a copy of this article
    by Ruchi Moolchandani, Sujata Kar 
    Abstract: This paper examines the impact of board of director attributes on the cash holdings of Indian listed firms. The study uses a sample of non-financial firms listed on the S&P BSE 500 index from 2009 to 2019. This study focuses on five board of director attributes namely, board size, board independence, board busyness, women directors and duality to investigate their impact on cash holdings. The findings reveal that board size, women directors and duality significantly affect the cash holdings of Indian firms. However, board independence and board busyness are insignificant. Overall, the study advocates that board of directors play a monitoring role and prevent managers from accumulating and using cash reserves for personal benefits. Thus, this study empirically confirms that board of director attributes affect corporate cash holdings. This study enriches the literature on determinants of corporate cash holdings.
    Keywords: board of directors; corporate governance; agency conflicts; cash holdings; India.
    DOI: 10.1504/IJMFA.2025.10063541
     
  • Usage of interest rate derivatives in risk management: an analysis   Order a copy of this article
    by Subhamoy Chatterjee, R.P. Mohanty 
    Abstract: Risk management is a component of business strategy across geographies and economies, often executed using derivatives. This study aims to undertake a bibliographic analysis, understand the evolving research through patterns and dimensionality, and elaborate on the significant learnings. This paper presents a bibliographic account of the usage of interest rate derivatives (IRDs). It covers the IRD subset of interest rate swaps by covering a range of sectors, geographies and disciplines. The analysis facilitated the categorisation of publications. This showed how research has evolved and the consequent gaps that must be filled to advance academic research in the community of practice. While there are multiple studies, this paper attempts to classify them and enables future researchers to access research work and realise the gap areas. Further, the study uses these research parameters to distinguish articles.
    Keywords: risk management; interest rate derivative; IRD; swap; fixed payor; floating payor; strategic finance; derivatives; regulations for derivatives.
    DOI: 10.1504/IJMFA.2025.10063577