Search results for "International"
showing 10 items of 4922 documents
Revolving doors: are they valued in the Spanish stock market?
2016
Purpose The purpose of this paper is to examine the effect of political connections in the value of companies listed on the Spanish stock market. Design/methodology/approach The authors study two issues on this topic: the impact on the company value of the appointment as director of an ex-politician through an event study; and the long run stock market performance of companies with political connections. The authors employ a sample of listed firms in the Spanish stock market for which the authors collected data about their political connections. The authors perform the study during a wide period (1996-2011), comprising four legislatures. Findings The results show that from the market persp…
The Role and the Current Status of IFRS in the Completion of National Accounting Rules – Evidence from Spain
2017
AbstractThe way Spain adapted the legislation to the Accounting Directives as well as a brief analysis of the Spanish standard setting process is followed by a description of the influence of International Financial Reporting Standards (IFRS) is the Spanish legislation and the different stakeholders’ position on IFRS. We show and explain why the local General Accepted Accounting Principles (GAAP) are clearly inspired by IFRS principles, even for Small- and Medium-Size entities, while at the same time there is no direct application of IFRS and no mention of IFRS as a complementary source of interpretation. We explain the influence of different stakeholders in the standard setting process and…
The Value Relevance of Risk Disclosure: An Analysis of the Banking Sector
2020
The aim of this study is to test whether financial risk disclosures required by IFRS 7 and Pillar 3 are value relevant for investors to support them in their investment decisions. The sample in the...
The influence of corporate governance's decision on corporate social responsibility
2018
The need for an accurate and detailed disclosure, the need to understand the mechanisms of government under which the company is managed and controlled, are the starting point of the choices of the many stakeholders that revolve around the company. A large number of players is interested in corporate governance are among these, not only the major shareholders, but also an increasing number of small investors. CSR is an extension of firms efforts to foster effective corporate governance, ensuring firms sustainability via sound business practices that promote accountability and transparency. rnThe paper aims to explore the impact that various corporate governance mechanisms have on the commit…
The Impact of Board Internationalization on Earnings Management
2016
Prior literature shows that choices regarding board composition are associated with earnings management. We add to this literature by examining the effects of the presence of a foreign board member on earnings management. Using a sample of 3,249 firm-year observations representing 586 non-financial listed Nordic firms during 2001-2008, we find that the presence of a non-Nordic, foreign director is associated with significantly higher levels of earnings management. Moreover, we provide preliminary evidence that differences in accounting knowledge drive this effect. Our results suggest that it may not necessarily be beneficial to appoint a foreign director to the board.
Layering of IFRS and Dual Institutionality of Accounting Standards in Belarus
2017
Submitted version of an article published in the journal Accounting in Europe. There is an ongoing debate about the applicability and efficacy of International Financial Reporting Standards (IFRS) adoption in countries with diverse institutional infrastructures. We examine financial reporting in Belarus and factors that are shaping its development. In Belarus, IFRS has been adopted through layering where it is an additional requirement to the existing reporting specified by the national accounting regulations. We explore how global standards were transposed and function in a highly specific institutional context. Based on an examination of reporting in the banking sector, we conclude that d…
The facility location problem with capacity transfers
2020
Abstract This paper explores the concept of capacity transfer in the context of capacitated facility location problems. This is accomplished by assuming that facilities with surplus capacity/production can cooperate with those facing shortage by transferring part of that capacity/production. Such a transfer incurs a cost that nonetheless may be compensated by savings both in the installation costs and in the distribution costs. Mixed-integer mathematical programming models are proposed for the problem. A distinction is made between the case in which the triangle inequality holds for the transfer costs and the case in which it does not. We present compact models, which are enhanced with vali…
Does higher technical efficiency induce a higher service level? A paradox association in the context of port operations
2020
Abstract Researchers and practitioners are benchmarking technical efficiency of ports and exploring the drivers of high efficiency. Paradoxically, this study argues that high technical efficiency (TE = 1) is not always essential, but an optimal level needs to be achieved while balancing the port service level. This study applies data envelopment analysis (DEA) and free disposal hull (FDH) methods to perform efficiency rankings of 38 container terminals from 17 different ports in 12 Asian countries. Four terminals are technically efficient (TE = 1) in all frontier approaches, thereof one Bangladeshi, one Chinese, one Indian and one Vietnamese. Furthermore, this study presents a case study co…
The potential impact of Brexit on Ireland's demand for shipping services to continental Europe
2018
Abstract Ireland, as an island nation, has historically relied on the UK landbridge to export and import its goods to and from Europe. This provides a fast, reliable and secure service along the UK landbridge route relative to the more economical and less frequent direct continental route. However, the relative competitiveness of maritime services along both routes may be significantly influenced by the UK exit from the European Union or Brexit. This paper aims to understand the potential impact of Brexit on maritime freight transport demand from Ireland to continental Europe for export trade shipments. Based on data collected from an efficient stated preference (SP) experiment, discrete ch…
Expert In-depth Interview on Development and Efficiency of “RIGA International Airport” Reflecting Factors
2016
Abstract The aim of the paper is to identify development ways and effectiveness of RIGA International Airport. Theoretical evidence was examined and expert in-depth interview was carried out to explore the main circumstances affecting RIGA International Airport functioning. Findings of the study show that there are positive tendencies in the field of airport efficiency and development, but improvement is needed primarily for coordinating visions and resources managed by both state and airport administration bodies.