Search results for "ACCOUNTING"

Cooperatives' performance relative to investor-owned firms: a non-distorted approach for the wine sector

2021

PurposeThis study aims to investigate whether significant performance differences between cooperatives and investor-owned firms (IOFs) may exist.Design/methodology/approachBased on data from a sample of Italian wine firms for the period from 2009 to 2018, an adjusted measure of performance called earnings before interests, taxes, depreciations and amortizations gross the raw materials cost was adopted to consider the different objectives of cooperatives relative to those of IOFs.FindingsEmpirical evidence shows that in the context under analysis, cooperatives have performed better than IOFs.Originality/valueDespite the theoretical literature suggesting that the cooperative form of organizat…

The Road to Higher Prices: Will Improved Road Standards Lead to Higher Housing Prices?

2020

AbstractWe study the impact of improved road standards on housing prices in a region of Southern Norway, where towns are located along the coast, like pearls on a string, with sparsely populated areas between the towns. In this region towns have since long been linked together by a road, but in 2009 a new highway, roughly parallel to the old road, was opened. The new highway runs Eastwards from the main town in the region and reduced one-way commutes to the main town by 10–15 min. We examine how this change in transportation infrastructure has affected housing prices, using difference-in-difference regressions to identify the impact of the new highway. Three smaller towns located East of th…

New regional industrial path development and innovation networks in times of economic crisis

2022

This paper presents novel research on how exogenous shocks and economic crises affect innovation, knowledge networks, and new path development in regions. Conceptually, we take a regional innovation systems perspective which views new path development as the outcome of innovation and knowledge exchange between firms and other actors, facilitated by a common institutional framework. Empirically, we draw on interviews and network data from the oil and gas industry in southern Norway. Following a long period of prosperity, the industry was hit by the oil price shock in 2014 and entered an economic crisis. The findings suggest that the shock triggered the firms to commit even more forcefully to…

A note on fair value accounting in a crisis: The influence of the hedge accounting regulations

2010

Published version of an article published in the journal: Business and Economics Journal. Also available from the publisher at: http://astonjournals.com/manuscripts/Vol2010/BEJ-13_Vol2010.pdf The role of fair value accounting in the financial crisis is contorversial and heavily debated. Some claim that fair value accounting of financial instruments contributed to the recent crisis. This note acknowledges that, in many industries, a significant proportion of the financial instruments are entered into for hedging purposes. I examine if a crisis through the hedge accounting regulations, can affect the overall use og fair value accounting in an economy. I present analytical evidence that the bo…

New Challenges in Economic and Business Development – 2019: Incentives for Sustainable Economic Growth: Abstracts of Reports (11th international scie…

2019

Valuation Effects of Listing on a More Prominent Segment of the Stock Market: Evidence from France

2002

We examine the behaviour of stock prices during the period around the transfer to the Marchea Reglement Mensuel. First, we discuss the financial reasons, which can justify abnormal returns around the transfer. Second, an event study based on a sample of 71 firms is set up to test the existence of the exchange listing effect on the French market. Third, we explore three hypotheses in order to explain the impact on stock returns: the informative content of the transfer, the increase in the relative size of the firm’s investor base, and the reduction of trading costs (immediacy and adverse selection). Cross–sectional regressions show that the increase in the relative size of the firm’s investo…

Introducing a strategic perspective in lean thinking applications through system dynamics modelling: the dynamic Value Stream Map

2020

PurposeLean Thinking is an operation management discipline which aims to identify, map and analyse the activities forming a process to detect “value waste” and outline the most effective flow of activities to execute in sequence. Process mapping is often developed in lean projects through the use of the Value Stream Map (VSM). Like many other management tools, the VSM adopts a static and non-systemic perspective in the representation of an organizational process. This may result in the implementation of Lean projects inconsistent with the overall organizational long-term strategy, thus leading to dysfunctional performance. In order to overcome this limit, the paper suggests combining VSM wi…

Marketing Science and the Ivory Tower

1994

How much has quantitative “marketing science” contributed to the practice of marketing? In my view, not much. In this article, based on extensive consulting experience, it is argued that well-established quantitative techniques like econometric models and diffusion models have produced little of either practical or scientific value. Other quantitative techniques, such as conjoint analysis, have been more useful for marketing decision-makers. But what is needed is a more pluralistic culture, drawing on a range of complementary disciplines.

Managers as Moral Leaders : Moral Identity Processes in the Context of Work

2020

AbstractThis qualitative study explores how business leaders narrate their personal ways of recognizing, reasoning, and resolving moral conflicts and what these stories reveal about their moral identity processes within organizational contexts. Based on interviews with 25 business leaders, 4 moral identity statuses were identified: achievement (commitment to a personally meaningful moral value framework that had been established through a period of self-exploration), moratorium (self-exploration of one’s moral value framework that was ongoing), foreclosure (commitment to a given moral value framework that was present with little or no personal self-exploration), and diffusion (neither clear…

Governance of global value chains after the Covid-19 pandemic: A new wave of regionalization?

2021

The disruption of the trade and investment activities of multinational enterprises as a consequence of the Covid-19 pandemic has reinvigorated the debate on the configuration of global value chains (GVCs) as well as the risks and challenges associated with offshoring. This article depicts how the pandemic might affect GVC configuration by driving a trend toward a more regional footprint in industries in which resilience and reliability are critical. Such a shift would create new opportunities for reshoring, and affect both the types of upgrading trajectories and the governance systems in value chains. The article also draws from the intersection of the global-strategy and value-chain field…