Integrated reporting and capital markets in an international setting: The role of financial analysts

2019 ◽  
Vol 28 (7) ◽  
pp. 1465-1480 ◽  
Author(s):  
Eduardo Flores ◽  
Marco Fasan ◽  
Wesley Mendes‐da‐Silva ◽  
Joelson Oliveira Sampaio
Keyword(s):  
Capital Markets ◽  
Financial Analysts ◽  
Integrated Reporting ◽  
International Setting

Classification Shifting in an International Setting: Investor Protection and Financial Analysts Monitoring

2013 ◽  
Vol 12 (2) ◽  
pp. 27-50 ◽  
Author(s):  
Bruce K. Behn ◽  
Giorgio Gotti ◽  
Don Herrmann ◽  
Tony Kang
Keyword(s):  
Investor Protection ◽  
Financial Analysts ◽  
Data Availability ◽  
Publicly Traded ◽  
Financial Analyst ◽  
Analyst Following ◽  
Classification Shifting ◽  
International Setting ◽  
Core Earnings

ABSTRACT Prior research on publicly traded U.S. firms provides evidence that managers engage in classification shifting to opportunistically manage “core” earnings. We extend this line of research in a broader international setting, by examining (1) whether the level of investor protection affects managers' decisions to engage in classification shifting behavior and (2) whether coverage by financial analysts mitigates this behavior. Based on an international sample of firms from 40 countries, we observe evidence consistent with classification shifting in both strong and weak investor protection countries using four separate measures of investor protection. We then explore the potential monitoring role of financial analysts in mitigating classification shifting. We provide evidence that higher financial analyst following mitigates classification shifting, primarily in weak investor protection countries. Overall, our results provide evidence of classification shifting in a broad international setting and evidence of financial analysts' influence in reducing this form of earnings management. Data Availability: The data are available from public sources identified in the text.

Comprehensive Income: which potential effects on firms' performance evaluation and users' decision process?

2016 ◽  
pp. 55-94
Author(s):  
Pier Luigi Marchini ◽  
Carlotta D'Este
Keyword(s):  
Performance Evaluation ◽  
Decision Process ◽  
Financial Analysts ◽  
Listed Companies ◽  
Financial Statement ◽  
Comprehensive Income ◽  
Other Comprehensive Income ◽  
Gains And Losses ◽  
The Impact

The reporting of comprehensive income is becoming increasingly important. After the introduction of Other Comprehensive Income (OCI) reporting, as required by the 2007 IAS 1-revised, the IASB is currently seeking inputs from investors on the usefulness of unrealized gains and losses and on the role of comprehensive income. This circumstance is of particular relevance in code law countries, as local pre-IFRS accounting models influence financial statement preparers and users. This study aims at investigating the role played by unrealized gains and losses reporting on users' decision process, by examining the impact of OCI on the Italian listed companies RoE ratio and by surveying a sample of financial analysts, also content analysing their formal reports. The results show that the reporting of comprehensive income does not affect the financial statement users' decision process, although it statistically affects Italian listed entities' performance.

The Role of Capital Markets in Economic Growth: Evidence from Ghana

2020 ◽  
Author(s):  
Wiafe Nti Akenten ◽  
Charles Boateng ◽  
Haftamu Kiros
Keyword(s):  
Economic Growth ◽  
Capital Markets

The Role of Financial Innovation in EU Market Integration and the Capital Markets Union

2018 ◽  
Author(s):  
Emilios Avgouleas
Keyword(s):  
Capital Markets ◽  
Risk Sharing ◽  
Market Integration ◽  
Financial Innovation ◽  
The European Union ◽  
Recent Developments ◽  
Capital Markets Union ◽  
Critical Overview ◽  
The Eu

This chapter offers a critical overview of the issues that the European Union 27 (EU-27) will face in the context of making proper use of financial innovation to further market integration and risk sharing in the internal financial market, both key objectives of the drive to build a Capital Markets Union. Among these is the paradigm shift signalled by a technological revolution in the realm of finance and payments, which combines advanced data analytics and cloud computing (so-called FinTech). The chapter begins with a critical analysis of financial innovation and FinTech. It then traces the EU market integration efforts and explains the restrictive path of recent developments. It considers FinTech's potential to aid EU market integration and debates the merits of regulation dealing with financial innovation in the context of building a capital markets union in EU-27.

scholarly journals Safe Space, Dangerous Territory: Young People’s Views on Preventing Radicalization through Education—Perspectives for Pre-Service Teacher Education

2021 ◽  
Vol 11 (5) ◽  
pp. 205
Author(s):  
Saija Benjamin ◽  
Visajaani Salonen ◽  
Liam Gearon ◽  
Pia Koirikivi ◽  
Arniika Kuusisto
Keyword(s):  
Teacher Education ◽  
Online Survey ◽  
Educational Institutions ◽  
Growing Up ◽  
Safe Spaces ◽  
Violent Extremism ◽  
International Setting ◽  
Pre Service Teacher ◽  
And Training

Initiatives for preventing radicalization and violent extremism through education (PVE-E) have become a feature of global educational policy and educational institutions across all phases, from early childhood to universities, also in Finland. If schools may be regarded as safe spaces here for identity and worldview construction and experiences of belonging, the specific subject matter of PVE-E is also dangerous territory. Not least because of PVE-E’s focus on radicalization, but above all because of perceptions of schools being used as an adjunct of governmental counter-terrorism policy. We argue that understanding young people’s views on issues related to radicalization and violent extremism is critical in order to develop ethical, sustainable, contextualized, and pedagogical approaches to prevent hostilities and foster peaceful co-existence. After providing some critical framing of the Finnish educational context in a broader international setting, we thus examine young people’s views (n = 3617) in relation to the safe spaces through online survey data gathered as a part of our larger 4-year research project Growing up radical? The role of educational institutions in guiding young people’s worldview construction. Specifically focused on Finland but with potentially wider international implications, more understanding about the topic of PVE-E is needed to inform teacher education and training, to which our empirical data makes some innovative contribution.

The role of board of directors in intellectual capital disclosure after the advent of integrated reporting

2020 ◽  
Vol 27 (5) ◽  
pp. 2188-2200 ◽  
Author(s):  
Filippo Vitolla ◽  
Nicola Raimo ◽  
Arcangelo Marrone ◽  
Michele Rubino
Keyword(s):  
Board Of Directors ◽  
Intellectual Capital ◽  
Integrated Reporting

Shareholder-driven Corporate Governance

2019 ◽  
Author(s):  
Anita Indira Anand
Keyword(s):  
Decision Making ◽  
Corporate Governance ◽  
Moral Hazard ◽  
Capital Markets ◽  
Regulated Markets ◽  
The People ◽  
Important Trend ◽  
Technical Capacity ◽  
Regulatory Challenges

This is a book about the ways in which capital markets have come to be shaped by the ubiquity of sophisticated investors. In particular, many of today’s investors have the economic might and technical capacity to play a role in the decision-making of the corporations in which they invest. This phenomenon brings with it a host of benefits, such as mechanisms to ameliorate the moral hazard that can exist when the people who bear the risk of corporate activity are different from those who make decisions. A key element of this book is an examination of the ways in which thinking about corporations and capital markets must change to reflect the prevalence of sophisticated shareholders. The book develops a concept—shareholder-driven corporate governance—to explain the role of powerful shareholders and to propose a regulatory scheme that furthers their participation in corporate decision-making. In doing so, the book considers a number of regulatory challenges that confront securities regulators. Ultimately, the book identifies an important trend in capital markets, highlights reasons for fostering this trend, and discusses the path that regulation can and should take in order to protect investors and foster well-regulated markets.

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