Forthcoming articles

International Journal of Managerial and Financial Accounting

International Journal of Managerial and Financial Accounting (IJMFA)

These 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 Articles will not be published until the final proofs are validated by their authors.

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International Journal of Managerial and Financial Accounting (4 papers in press)

Regular Issues

  • The role of resources and capabilities in managing and overcoming the financial crisis: a case study of the Fratelli Pinna sheep-dairy business   Order a copy of this article
    by Antonio Usai, Daniele Porcheddu, Brunella Arru 
    Abstract: The Italian economic system comprises a significant number of small and medium-sized family businesses. Recent empirical evidence shows that the characteristics of family firms are crucial in overcoming the adverse effects of the financial crisis, thus contributing to the generation of wealth and employment for the country. Using the case study approach, this paper investigates the firm-level dynamics during the last economic recession of a medium-size family firm, operating in a mature market and situated in a rural context. The finding showed that the managements approach to the crisis was dictated, among various factors, by the firms distinctive characteristics, its social capital and its role in the local and regional contexts. These peculiarities have been the key to overcoming the most harmful effects of the economic crisis and to avoiding the necessity of carrying out radical restructuring processes and financial recovery. Moreover, this case showed the pivotal role of the social dimension of the firm and the consequences of the decrease in the historical attention placed on the well-being of the business community and society as a whole.
    Keywords: Family business; Financial crisis; Mature sector; Cost leadership; Stakeholder theory; Medium-size businesses.
    DOI: 10.1504/IJMFA.2019.10022385
     
  • THE EFFECT OF SIZE OFFERING AND LEVERAGE ON IPO UNDERPRICING   Order a copy of this article
    by Maxime Gauvin, Gabriel Power 
    Abstract: IPO underpricing is a well-documented stylized fact in financial markets. Although many explanations have been considered, the role of size offering is under-studied. This paper investigates U.S. IPO underpricing in a setting that allows for size offering, leverage, and Fama-French risk factors. We find that, across specifications, size offering is economically and statistically significant. IPO underpricing is decreasing in the size offering, controlling for other variables. Implications for investors and firms are discussed and related to firm ex ante uncertainty.
    Keywords: Initial public offering; underpricing; abnormal return; size; offering; equity; debt; leverage; risk; asymmetric information.

  • Does the voluntary adoption of integrated reporting affect the value relevance of accounting information? Empirical evidence from Europe   Order a copy of this article
    by Salvatore Loprevite, Daniela Rupo, Bruno Ricca 
    Abstract: This study verifies whether the voluntary adoption of an integrated report in Europe under the Framework is associated with the value relevance of summary accounting information. We compare a sample of European listed companies that publish Integrated Reports (IR-firms) under the Framework with companies that do not publish it (NIR-firms). To analyse the association between market value (MV) and traditional accounting information (book value and earnings), we use multivariate regression linear models and generalized linear models (GLM). The results of our analysis show that the adoption of IR appears to strongly affect the value relevance of summary accounting information. For IR-firms, we find significant lower value relevance for earnings and slightly higher value relevance for book value, compared to NIR-firms. Additionally, our findings reveal that for both groups the level of investments on intangibles is positively associated to market value but with a significantly higher association for the IR-firms.
    Keywords: Integrated Reporting; International Integrated Reporting Framework; Value Relevance; Accounting information.

  • Credit access and performance of Italian firms: How relevant is gender?   Order a copy of this article
    by Luana Serino, Armando Papa, Francesco Campanella, Jens Mueller 
    Abstract: This paper investigates the relationship between firm structure with its performance besides the interest rates applied by banks; and the gender governance besides firm profitability and the pricing of credit charged by the banking system. The sample used for this empirical research consists of 219 Italian firms and it was analyzed during the 2013-2016 period. Employing a two-phases quantitative method, our study finds that there are important elements (both in terms of corporate structure and gender governance) that impact on the corporate performance and the pricing of credit firms pay when they succeed in borrowing.
    Keywords: banks; bias; business; corporate structure; credit access; female firms; gender governance; loans; performance; pricing of credit.
    DOI: 10.1504/IJMFA.2019.10023841