This study examines the level of compliance with key Indonesian accounting regulations (IARC) for inventory, fixed assets, and depreciation by analyzing 160 listed Indonesian companies' 2006 annual reports. The study finds a high level of compliance, at 71.63% for inventory, 51.13% for fixed assets, and 99.69% for depreciation. Through statistical analysis, the study investigates factors that influence compliance levels, such as firm size, ownership concentration, corporate governance structures, auditor type, return on assets, and industry. The study aims to advance understanding of accounting compliance in Indonesia and identify areas needing regulatory intervention.
A critical analysis of equity ownership structure on firm’s performanceAlexander Decker
This document summarizes a research study on the relationship between equity ownership structure and firm performance of publicly listed companies in Kenya. It discusses how ownership concentration and identity can influence corporate governance and potentially affect performance. The study is based on agency, stewardship, and stakeholder theories. It reviews literature showing mixed results on the effects of state ownership, institutional ownership, and other ownership types on firm value and performance. The objective is to analyze how controlling shareholder identity influences performance of listed Kenyan companies.
The document discusses the complex relationship between the implementation of management accounting systems and the adoption of knowledge management. It explores this relationship using the directed acyclic graph technique. The key points are:
1) The implementation of management accounting systems is both a cause and consequence of adopting knowledge management, but their relationship has not been fully examined.
2) Applying the directed acyclic graph method reveals that the implementation of management accounting systems influences the adoption of knowledge management first in their relationship.
3) However, adopting knowledge management then has a positive influence back on implementing management accounting systems. This provides insight into the complicated mutual relationship between the two factors.
Balanced scorecard weaknesses, strengths, and its ability as performanceAlexander Decker
The document discusses and compares various performance management systems, focusing on the balanced scorecard (BSC). It summarizes criticisms of traditional accounting systems and discusses how BSC and other systems like TQM, ISO 14001, the performance pyramid, and the EFQM excellence model measure performance. The document concludes that while BSC has received criticisms, it has advantages over other systems in providing a balanced, strategic-linked approach to performance measurement. BSC's ability to incorporate social and environmental issues within a strategic framework suggests it could be useful for further research on sustainability performance measurement.
Analyzing the current incorporation of social, environmental And economic mea...World-Academic Journal
We theorize about the incorporation of social, environmental and economic dimensions into strategic performance measurement systems. 81Chinese companies were surveyed for the analysis. Along with the increasing of social responsibility pressure, numbers of enterprises are promoting environmental, social and economic performance as strategic sustainability measures. Although the addition of sustainability measures to enterprise’s long term business strategy has long time been a major preoccupation of literature. Some empirical researches have examined if these nonfinancial measures are effectively incorporated into strategic performance measurement systems. In this research, we will examine why the incorporation of sustainability measures into enterprise business strategy vary across enterprises operating in Shanghai.
11.isea vol 0004www.iiste.org call for paper no 1 pp. 40-64Alexander Decker
This study aims to investigate whether contextual variables moderate the relationship between corporate social responsibility (CSR) and corporate financial performance (CFP) under slack resource theory and good management theory. The study examines 220 manufacturing companies in Indonesia. Two regression models were developed to analyze how business environment, business strategy, organizational structure, and control systems impact the CSR-CFP relationship. The findings show that business environment moderates the CSR-CFP link under good management theory. Decentralization moderates the CSR-CFP link under slack resource theory. Reliance on a combination of diagnostic and interactive control systems also moderates the CSR-CFP link based on slack resource theory.
Is the higher quality financial reporting improves csr investment efficiency ...prjpublications
This document summarizes a study on the relationship between financial reporting quality, corporate social responsibility (CSR) investments, and future financial performance of companies in India. The study finds that higher-quality financial reporting is associated with a positive relationship between CSR investment and future profitability. In contrast, for companies with lower-quality financial reporting, the relationship between CSR investment and future profitability is negative. This suggests that higher-quality financial reporting improves the efficiency of CSR investments by mitigating agency problems, leading to CSR spending that benefits stakeholders and financial performance. The document provides background on CSR and financial reporting quality in India, and discusses how higher-quality reporting can enhance investment efficiency and corporate governance.
The influence of managerial ownership,institutional ownership and voluntaryd...inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Effects of Human Resource Management Practices on Financial Performance of Se...iosrjce
Human resources are the source of achieving competitive advantage because of its capability to
convert the other resources (money, machine, methods and material) in to output (product/service). The
competitor can imitate other resources like technology and capital but the human resource are unique. People
are one of the most important factors providing flexibility and adaptability to organizations. People (managers),
not the firm, are the adaptive mechanism in determining how the firm will respond to the competitive
environment. This study was guided by resource based theory. The study applied descriptive research design. In
this design, the researcher does not manipulate the variables under study but instead, examines the variables in
their existing condition. The study targeted middle level managers in selected agricultural firms in the sugar
industry. In total the sample size will comprise of 134 respondents. The main research instruments that were
used in this study were questionnaires. Data analysis involved both descriptive and inferential statistics using
SPSS (Statistical Packages for Social Sciences) Computer package. Qualitative data was analyzed thematically.
Correlation was used to analyze the degree of relationship between the variables in the study. The coefficient of
correlation (r), determine the degree (strength) of relationship and its value is between -1 and 1. Regression was
used to obtain an equation which describes the dependent variable in terms of the independent variable based
on the regression model, (regression is used to determine the type of relationship). Further, factor analysis was
undertaken in order to obtain a detailed perceptual and attitudinal aspects of the data. Data was presented in
the form of frequency distribution tables, graphs and pie charts that will facilitate description and explanation
of the study findings. The findings showed the correlation between Human Resource Management practices and
financial performance of selected agricultural firms in the sugar industry.
A critical analysis of equity ownership structure on firm’s performanceAlexander Decker
This document summarizes a research study on the relationship between equity ownership structure and firm performance of publicly listed companies in Kenya. It discusses how ownership concentration and identity can influence corporate governance and potentially affect performance. The study is based on agency, stewardship, and stakeholder theories. It reviews literature showing mixed results on the effects of state ownership, institutional ownership, and other ownership types on firm value and performance. The objective is to analyze how controlling shareholder identity influences performance of listed Kenyan companies.
The document discusses the complex relationship between the implementation of management accounting systems and the adoption of knowledge management. It explores this relationship using the directed acyclic graph technique. The key points are:
1) The implementation of management accounting systems is both a cause and consequence of adopting knowledge management, but their relationship has not been fully examined.
2) Applying the directed acyclic graph method reveals that the implementation of management accounting systems influences the adoption of knowledge management first in their relationship.
3) However, adopting knowledge management then has a positive influence back on implementing management accounting systems. This provides insight into the complicated mutual relationship between the two factors.
Balanced scorecard weaknesses, strengths, and its ability as performanceAlexander Decker
The document discusses and compares various performance management systems, focusing on the balanced scorecard (BSC). It summarizes criticisms of traditional accounting systems and discusses how BSC and other systems like TQM, ISO 14001, the performance pyramid, and the EFQM excellence model measure performance. The document concludes that while BSC has received criticisms, it has advantages over other systems in providing a balanced, strategic-linked approach to performance measurement. BSC's ability to incorporate social and environmental issues within a strategic framework suggests it could be useful for further research on sustainability performance measurement.
Analyzing the current incorporation of social, environmental And economic mea...World-Academic Journal
We theorize about the incorporation of social, environmental and economic dimensions into strategic performance measurement systems. 81Chinese companies were surveyed for the analysis. Along with the increasing of social responsibility pressure, numbers of enterprises are promoting environmental, social and economic performance as strategic sustainability measures. Although the addition of sustainability measures to enterprise’s long term business strategy has long time been a major preoccupation of literature. Some empirical researches have examined if these nonfinancial measures are effectively incorporated into strategic performance measurement systems. In this research, we will examine why the incorporation of sustainability measures into enterprise business strategy vary across enterprises operating in Shanghai.
11.isea vol 0004www.iiste.org call for paper no 1 pp. 40-64Alexander Decker
This study aims to investigate whether contextual variables moderate the relationship between corporate social responsibility (CSR) and corporate financial performance (CFP) under slack resource theory and good management theory. The study examines 220 manufacturing companies in Indonesia. Two regression models were developed to analyze how business environment, business strategy, organizational structure, and control systems impact the CSR-CFP relationship. The findings show that business environment moderates the CSR-CFP link under good management theory. Decentralization moderates the CSR-CFP link under slack resource theory. Reliance on a combination of diagnostic and interactive control systems also moderates the CSR-CFP link based on slack resource theory.
Is the higher quality financial reporting improves csr investment efficiency ...prjpublications
This document summarizes a study on the relationship between financial reporting quality, corporate social responsibility (CSR) investments, and future financial performance of companies in India. The study finds that higher-quality financial reporting is associated with a positive relationship between CSR investment and future profitability. In contrast, for companies with lower-quality financial reporting, the relationship between CSR investment and future profitability is negative. This suggests that higher-quality financial reporting improves the efficiency of CSR investments by mitigating agency problems, leading to CSR spending that benefits stakeholders and financial performance. The document provides background on CSR and financial reporting quality in India, and discusses how higher-quality reporting can enhance investment efficiency and corporate governance.
The influence of managerial ownership,institutional ownership and voluntaryd...inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Effects of Human Resource Management Practices on Financial Performance of Se...iosrjce
Human resources are the source of achieving competitive advantage because of its capability to
convert the other resources (money, machine, methods and material) in to output (product/service). The
competitor can imitate other resources like technology and capital but the human resource are unique. People
are one of the most important factors providing flexibility and adaptability to organizations. People (managers),
not the firm, are the adaptive mechanism in determining how the firm will respond to the competitive
environment. This study was guided by resource based theory. The study applied descriptive research design. In
this design, the researcher does not manipulate the variables under study but instead, examines the variables in
their existing condition. The study targeted middle level managers in selected agricultural firms in the sugar
industry. In total the sample size will comprise of 134 respondents. The main research instruments that were
used in this study were questionnaires. Data analysis involved both descriptive and inferential statistics using
SPSS (Statistical Packages for Social Sciences) Computer package. Qualitative data was analyzed thematically.
Correlation was used to analyze the degree of relationship between the variables in the study. The coefficient of
correlation (r), determine the degree (strength) of relationship and its value is between -1 and 1. Regression was
used to obtain an equation which describes the dependent variable in terms of the independent variable based
on the regression model, (regression is used to determine the type of relationship). Further, factor analysis was
undertaken in order to obtain a detailed perceptual and attitudinal aspects of the data. Data was presented in
the form of frequency distribution tables, graphs and pie charts that will facilitate description and explanation
of the study findings. The findings showed the correlation between Human Resource Management practices and
financial performance of selected agricultural firms in the sugar industry.
Corporate governance and financing dicisions of listed firms in pakistanAlexander Decker
This document summarizes a study that examines the relationship between corporate governance mechanisms and financing decisions of listed firms in Pakistan. Specifically, it looks at how ownership concentration, board size and composition, and CEO duality relate to capital structure, measured by debt ratio. The study uses data from 24 listed banks in Pakistan from 2008-2012. It finds that ownership concentration and board size are positively correlated with debt ratio, but finds no significant relationship between board composition, CEO duality and capital structure. The document provides context on prior literature regarding how corporate governance factors like board characteristics and leadership structure have been found to impact capital structure decisions. It outlines the research methodology used in the study.
The document summarizes an instrumental theory of social and environmental accounting (SEA) at the organizational and societal levels of analysis. At the organizational level, the effectiveness of SEA is measured by whether it maximizes the firm's utility by setting the level of SEA where marginal costs equal marginal benefits. At the societal level, effectiveness is measured by the level of SEA that achieves the greatest social efficiency by maximizing aggregate societal well-being relative to costs. The paper then analyzes potential benefits and costs of SEA based on signaling theory and transaction cost economics for both reporting organizations and stakeholders. It concludes by discussing how political governance systems may influence SEA and provides suggestions for future research.
Appraisal of the stakeholder management model in the insurance industryAlexander Decker
This document summarizes stakeholder theory and its application in the insurance industry. It discusses various models of stakeholder management, including representative theory, agency theory, stewardship theory, and resource dependency theory. Stakeholder theory suggests organizations should be responsible to a range of groups besides owners. The paper also analyzes key attributes of stakeholders - power, legitimacy, and urgency. It categorizes stakeholders based on possessing some combination of these attributes. The document aims to explore stakeholder theory literature to develop a framework for understanding the role and influence of stakeholders in organizations like insurance companies.
This document summarizes a research article that analyzes how Chinese companies operating in Shanghai incorporate social, environmental, and economic measures into their strategic performance measurement systems. The researchers surveyed 81 Chinese companies. Their findings show that while more companies are promoting sustainability measures as part of their long-term business strategies, the effective integration of these non-financial measures varies across companies. The researchers examine what factors determine the differences in how companies incorporate sustainability measures into their performance systems and business strategies.
This document summarizes a research paper that aims to develop an operational definition of alignment within a performance measurement and management system (PMMS). It studies how a company maintained alignment during a strategic change by analyzing the role of metrics, rewards, and strategic consensus. The research was conducted through an in-depth case study of a major organization undergoing strategic shift from process efficiency to product innovation. The study results in a measurement model of alignment that can be used to differentiate firms and provide guidance for maintaining alignment during changes.
This paper examines how performance measurement systems can promote organizational learning and strategic alignment in Thailand's public sector. It hypothesizes that interactive use of strategic performance measurement systems leads to both organizational learning and strategic alignment. A survey was administered and results showed significant relationships between interactive performance measurement, organizational learning, and strategic alignment. Organizational learning was also found to indirectly support strategic alignment through performance measurement. The study contributes to research on using performance measurement in inter-organizational networks within the public sector.
This document provides an overview of the research methodology for a case study on the performance management system of the Norwegian Microfinance Initiatives (NMI). It begins by discussing the philosophical underpinnings of a social constructivist approach. It then examines the research design, which involves a qualitative case study of NMI. Data collection methods will include interviews with NMI employees to understand how the performance management system is designed and used. Challenges in designing and implementing the performance management system will also be explored. The purpose is to analyze NMI's performance management system using a conceptual framework developed by Ferreira and Otley.
The Moderating Role of Nepotism in the Effect of Employee Empowerment on Perc...inventionjournals
The purpose of this study is to investigate the potential relationship between nepotism, empowerment and organisational justice within the context of hospitality organisations. The research was carried out on 232 employees working at some 5 star hospitality organisations operating in Marmaris, which is a county of Muğla Province in Turkey. The data were collected through questionnaire technique. The questionnaire used in the study consists of four sections; demographic information, nepotism, employee empowerment and perception regarding organisational justice. In the study, correlation and regression analyses were conducted to find out the relationship between nepotism, employee empowerment and perceptions regarding organisational justice as well as some descriptive statistics aiming to reveal characteristics of the organisations where the participants were employed. Correlation analysis revealed a weak and negative relationship between nepotism and organisational justice. According to the regression analysis, nepotism was found to have a moderating role solely on meaning-competence dimensions when the relationships between dimensions of empowerment and organisational justice were considered.
11.vol 0003www.iiste.org call for paper no 1 pp 66-87Alexander Decker
This document summarizes a study that investigated the relationship between corporate social performance (CSP) and corporate financial performance (CFP) among Indonesian companies. The study tested two theories: 1) the slack resource theory, which predicts a positive relationship between CFP and CSP, and 2) good management theory, which predicts a positive relationship between CSP and CFP. Data was collected through surveys of managers at state-owned and private companies in Indonesia. The results found support for both theories, showing positive relationships between CFP and CSP as well as between CSP and CFP. The study helps address conflicting prior findings on these relationships and methodological issues.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
This document provides a literature review on performance measurement and management. It defines performance management as the process of managing performance throughout an organization, involving understanding performance issues at all levels from individuals to the organization as a whole. Performance measurement is defined as quantifying the efficiency and effectiveness of actions using individual measures, a set of measures to assess organizational performance, and an infrastructure to acquire and analyze data. The document discusses why performance should be managed, including for strategy formulation, implementation, communication, motivation, and decision making. It also explores how performance should be managed and overcoming barriers to effective performance management in public sector organizations.
This document summarizes a research paper that examines how the use of multidimensional performance measures and four organizational factors influence the effectiveness of performance measurement systems (PMSs). The study collected survey data from 455 senior financial officers in Australian manufacturing organizations. The results showed that the use of multidimensional measures was associated with better performance and staff outcomes. Top management support was linked to improved performance outcomes, and training was tied to enhanced staff outcomes. The findings provide insight into characteristics and factors that can strengthen PMS effectiveness.
Relationship between capital structure and firm’s performance theoretical reviewAlexander Decker
This document provides a theoretical review of the relationship between capital structure and firm performance. It begins by defining capital structure as the combination of debt and equity used to finance a firm's operations. The document then discusses the main determinants of capital structure, including both internal factors like firm size, growth, and profitability, as well as external macroeconomic variables. Finally, it outlines the major theories around capital structure and their views on the relationship with firm performance and value.
This document presents a theoretical framework that integrates insights from agency theory and social psychology to develop a more comprehensive understanding of strategic compensation for nonexecutive employees. The framework argues that while agency theory provides a useful lens, it fails to consider important psychological factors like social comparison and overconfidence that increase costs associated with individual performance-based pay. The framework predicts that firms will rely more on team-based, seniority-based, and flatter compensation strategies to address these higher costs. The paper discusses implications for empirical research and extensions of the integrated theory.
The Role Of Non Market Capability Moderation In The Relationship Between Envi...IOSR Journals
This study aims to: 1) explain the influence of government involvement and resources on the efficiency and performance of Water Supplier Companies; 2) explain the role of non market capability moderation in the relationship between environment, strategies, and the performance of Water Supplier Companies. The data were collected by using a survey on 60 Water Supplier Companies in Sulawesi. From those companies, 54 gave consent to participate in this study, but only 50 questionnaires can be analysed by using PLS. This reserach reveals that: 1) financial support from the local government was on time, and the water production capacity and distribution wereon optimal level; 2) the financial supportwas strengthened by the ability of the Water Supplier Companies to communicate with local government; and 3) the availability of resources - including pipe networks, machines, and pumps – suited the necessity.
This is the intermission slides that made part of a talk at the Oberhausen Short Film Festival in May 2014, dedicated to film without film. So I've used these.
This document discusses how HR processes are often conducted annually rather than continuously throughout the year. It uses a fairy tale analogy of a CFO and COO who only work for two months each year to illustrate this problem. The document argues that to maximize performance, companies should view their employees as a human system and implement strategic HR processes around performance management, compensation, and development on a continuous basis. When integrated properly, these processes can help align employees' goals with company strategy and keep them engaged and motivated year-round.
11.isea vol 0004www.iiste.org call for paper no 2 pp. 136-148Alexander Decker
This document summarizes a research paper that analyzes the history and trends in non-financial reporting titles among FT 500 corporations from 1989 to 2007. It focuses on the frequency of the terms "environment", "sustainability", and "responsibility" in titles over time. The number of non-financial reports issued grew substantially over this period. "Environment" was initially more common in titles but peaked in 2001 and declined, while "sustainability" and "responsibility" continued growing in popularity. The document discusses theories for why corporations adopt new keywords in non-financial reporting titles.
O documento é uma homenagem ao Corpo de Cristo na Eucaristia através de vários poemas celebrando a presença de Jesus no pão e no vinho e seu amor por nós. Os poemas expressam fé, adoração e gratidão a Cristo presente na comunhão, que traz paz ao coração.
The document discusses two ideas for preparing university students for future careers:
1. Analyzing job offers, CVs, skills and needs during regular classes through activities like CV writing, job offer analysis, mock interviews, and guest speakers.
2. Organizing summer internships for all students to learn what the working world is like through experiences in different companies and departments, as well as training on skills like interviewing and motivation.
The first idea is prototyped through a class agenda, and feedback suggests expanding topics and using more hands-on learning. The second idea is prototyped through role-playing different work situations, and feedback emphasizes exposure to varied companies and roles.
Corporate governance and financing dicisions of listed firms in pakistanAlexander Decker
This document summarizes a study that examines the relationship between corporate governance mechanisms and financing decisions of listed firms in Pakistan. Specifically, it looks at how ownership concentration, board size and composition, and CEO duality relate to capital structure, measured by debt ratio. The study uses data from 24 listed banks in Pakistan from 2008-2012. It finds that ownership concentration and board size are positively correlated with debt ratio, but finds no significant relationship between board composition, CEO duality and capital structure. The document provides context on prior literature regarding how corporate governance factors like board characteristics and leadership structure have been found to impact capital structure decisions. It outlines the research methodology used in the study.
The document summarizes an instrumental theory of social and environmental accounting (SEA) at the organizational and societal levels of analysis. At the organizational level, the effectiveness of SEA is measured by whether it maximizes the firm's utility by setting the level of SEA where marginal costs equal marginal benefits. At the societal level, effectiveness is measured by the level of SEA that achieves the greatest social efficiency by maximizing aggregate societal well-being relative to costs. The paper then analyzes potential benefits and costs of SEA based on signaling theory and transaction cost economics for both reporting organizations and stakeholders. It concludes by discussing how political governance systems may influence SEA and provides suggestions for future research.
Appraisal of the stakeholder management model in the insurance industryAlexander Decker
This document summarizes stakeholder theory and its application in the insurance industry. It discusses various models of stakeholder management, including representative theory, agency theory, stewardship theory, and resource dependency theory. Stakeholder theory suggests organizations should be responsible to a range of groups besides owners. The paper also analyzes key attributes of stakeholders - power, legitimacy, and urgency. It categorizes stakeholders based on possessing some combination of these attributes. The document aims to explore stakeholder theory literature to develop a framework for understanding the role and influence of stakeholders in organizations like insurance companies.
This document summarizes a research article that analyzes how Chinese companies operating in Shanghai incorporate social, environmental, and economic measures into their strategic performance measurement systems. The researchers surveyed 81 Chinese companies. Their findings show that while more companies are promoting sustainability measures as part of their long-term business strategies, the effective integration of these non-financial measures varies across companies. The researchers examine what factors determine the differences in how companies incorporate sustainability measures into their performance systems and business strategies.
This document summarizes a research paper that aims to develop an operational definition of alignment within a performance measurement and management system (PMMS). It studies how a company maintained alignment during a strategic change by analyzing the role of metrics, rewards, and strategic consensus. The research was conducted through an in-depth case study of a major organization undergoing strategic shift from process efficiency to product innovation. The study results in a measurement model of alignment that can be used to differentiate firms and provide guidance for maintaining alignment during changes.
This paper examines how performance measurement systems can promote organizational learning and strategic alignment in Thailand's public sector. It hypothesizes that interactive use of strategic performance measurement systems leads to both organizational learning and strategic alignment. A survey was administered and results showed significant relationships between interactive performance measurement, organizational learning, and strategic alignment. Organizational learning was also found to indirectly support strategic alignment through performance measurement. The study contributes to research on using performance measurement in inter-organizational networks within the public sector.
This document provides an overview of the research methodology for a case study on the performance management system of the Norwegian Microfinance Initiatives (NMI). It begins by discussing the philosophical underpinnings of a social constructivist approach. It then examines the research design, which involves a qualitative case study of NMI. Data collection methods will include interviews with NMI employees to understand how the performance management system is designed and used. Challenges in designing and implementing the performance management system will also be explored. The purpose is to analyze NMI's performance management system using a conceptual framework developed by Ferreira and Otley.
The Moderating Role of Nepotism in the Effect of Employee Empowerment on Perc...inventionjournals
The purpose of this study is to investigate the potential relationship between nepotism, empowerment and organisational justice within the context of hospitality organisations. The research was carried out on 232 employees working at some 5 star hospitality organisations operating in Marmaris, which is a county of Muğla Province in Turkey. The data were collected through questionnaire technique. The questionnaire used in the study consists of four sections; demographic information, nepotism, employee empowerment and perception regarding organisational justice. In the study, correlation and regression analyses were conducted to find out the relationship between nepotism, employee empowerment and perceptions regarding organisational justice as well as some descriptive statistics aiming to reveal characteristics of the organisations where the participants were employed. Correlation analysis revealed a weak and negative relationship between nepotism and organisational justice. According to the regression analysis, nepotism was found to have a moderating role solely on meaning-competence dimensions when the relationships between dimensions of empowerment and organisational justice were considered.
11.vol 0003www.iiste.org call for paper no 1 pp 66-87Alexander Decker
This document summarizes a study that investigated the relationship between corporate social performance (CSP) and corporate financial performance (CFP) among Indonesian companies. The study tested two theories: 1) the slack resource theory, which predicts a positive relationship between CFP and CSP, and 2) good management theory, which predicts a positive relationship between CSP and CFP. Data was collected through surveys of managers at state-owned and private companies in Indonesia. The results found support for both theories, showing positive relationships between CFP and CSP as well as between CSP and CFP. The study helps address conflicting prior findings on these relationships and methodological issues.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
This document provides a literature review on performance measurement and management. It defines performance management as the process of managing performance throughout an organization, involving understanding performance issues at all levels from individuals to the organization as a whole. Performance measurement is defined as quantifying the efficiency and effectiveness of actions using individual measures, a set of measures to assess organizational performance, and an infrastructure to acquire and analyze data. The document discusses why performance should be managed, including for strategy formulation, implementation, communication, motivation, and decision making. It also explores how performance should be managed and overcoming barriers to effective performance management in public sector organizations.
This document summarizes a research paper that examines how the use of multidimensional performance measures and four organizational factors influence the effectiveness of performance measurement systems (PMSs). The study collected survey data from 455 senior financial officers in Australian manufacturing organizations. The results showed that the use of multidimensional measures was associated with better performance and staff outcomes. Top management support was linked to improved performance outcomes, and training was tied to enhanced staff outcomes. The findings provide insight into characteristics and factors that can strengthen PMS effectiveness.
Relationship between capital structure and firm’s performance theoretical reviewAlexander Decker
This document provides a theoretical review of the relationship between capital structure and firm performance. It begins by defining capital structure as the combination of debt and equity used to finance a firm's operations. The document then discusses the main determinants of capital structure, including both internal factors like firm size, growth, and profitability, as well as external macroeconomic variables. Finally, it outlines the major theories around capital structure and their views on the relationship with firm performance and value.
This document presents a theoretical framework that integrates insights from agency theory and social psychology to develop a more comprehensive understanding of strategic compensation for nonexecutive employees. The framework argues that while agency theory provides a useful lens, it fails to consider important psychological factors like social comparison and overconfidence that increase costs associated with individual performance-based pay. The framework predicts that firms will rely more on team-based, seniority-based, and flatter compensation strategies to address these higher costs. The paper discusses implications for empirical research and extensions of the integrated theory.
The Role Of Non Market Capability Moderation In The Relationship Between Envi...IOSR Journals
This study aims to: 1) explain the influence of government involvement and resources on the efficiency and performance of Water Supplier Companies; 2) explain the role of non market capability moderation in the relationship between environment, strategies, and the performance of Water Supplier Companies. The data were collected by using a survey on 60 Water Supplier Companies in Sulawesi. From those companies, 54 gave consent to participate in this study, but only 50 questionnaires can be analysed by using PLS. This reserach reveals that: 1) financial support from the local government was on time, and the water production capacity and distribution wereon optimal level; 2) the financial supportwas strengthened by the ability of the Water Supplier Companies to communicate with local government; and 3) the availability of resources - including pipe networks, machines, and pumps – suited the necessity.
This is the intermission slides that made part of a talk at the Oberhausen Short Film Festival in May 2014, dedicated to film without film. So I've used these.
This document discusses how HR processes are often conducted annually rather than continuously throughout the year. It uses a fairy tale analogy of a CFO and COO who only work for two months each year to illustrate this problem. The document argues that to maximize performance, companies should view their employees as a human system and implement strategic HR processes around performance management, compensation, and development on a continuous basis. When integrated properly, these processes can help align employees' goals with company strategy and keep them engaged and motivated year-round.
11.isea vol 0004www.iiste.org call for paper no 2 pp. 136-148Alexander Decker
This document summarizes a research paper that analyzes the history and trends in non-financial reporting titles among FT 500 corporations from 1989 to 2007. It focuses on the frequency of the terms "environment", "sustainability", and "responsibility" in titles over time. The number of non-financial reports issued grew substantially over this period. "Environment" was initially more common in titles but peaked in 2001 and declined, while "sustainability" and "responsibility" continued growing in popularity. The document discusses theories for why corporations adopt new keywords in non-financial reporting titles.
O documento é uma homenagem ao Corpo de Cristo na Eucaristia através de vários poemas celebrando a presença de Jesus no pão e no vinho e seu amor por nós. Os poemas expressam fé, adoração e gratidão a Cristo presente na comunhão, que traz paz ao coração.
The document discusses two ideas for preparing university students for future careers:
1. Analyzing job offers, CVs, skills and needs during regular classes through activities like CV writing, job offer analysis, mock interviews, and guest speakers.
2. Organizing summer internships for all students to learn what the working world is like through experiences in different companies and departments, as well as training on skills like interviewing and motivation.
The first idea is prototyped through a class agenda, and feedback suggests expanding topics and using more hands-on learning. The second idea is prototyped through role-playing different work situations, and feedback emphasizes exposure to varied companies and roles.
11.vol. 0002www.iiste.org call for paper no. 2_p malarvizhi & s yadav_pp211-232Alexander Decker
This document analyzes environmental disclosure practices of Indian companies on the internet. It finds that Indian companies use diverse reporting methods like standalone environmental reports, reporting within annual/financial reports, or sustainability reporting. While environmental reporting is currently voluntary in India, awareness is growing among stakeholders. The study aims to understand current internet reporting trends among Indian companies and how they compare to guidelines and practices in other countries. It reviews prior literature on the increasing use of internet reporting globally and factors influencing the adoption of standards like the Global Reporting Initiative.
This document provides an overview of issues in corporate social and environmental reporting (CSER) research based on a review of relevant literature. It identifies two main areas of issues: 1) methodologies used to capture empirical data on CSER, including sample selection and data collection methods, and 2) theoretical frameworks for interpreting CSER trends. The document argues that the choice of research methods depends on context and study purpose, and that a multi-theoretical approach is needed given the many factors influencing corporate social responsibility decisions and disclosure.
1) The document discusses the opportunity for technology to improve organizational efficiency and transition economies into a "smart and clean world."
2) It argues that aggregate efficiency has stalled at around 22% for 30 years due to limitations of the Second Industrial Revolution, but that digitizing transport, energy, and communication through technologies like blockchain can help manage resources and increase efficiency.
3) Technologies like precision agriculture, cloud computing, robotics, and autonomous vehicles may allow for "dematerialization" and do more with fewer physical resources through effects like reduced waste and need for transportation/logistics infrastructure.
11.isea vol 0004www.iiste.org call for paper no 1 pp. 74-87Alexander Decker
This study examines the relationship between managers' perceptions of environmental accounting and actual environmental accounting disclosures by Indonesian companies. A survey was conducted of managers at companies listed on the Jakarta Stock Exchange to assess their perceptions. Company annual reports were also analyzed to measure actual environmental disclosures. The researchers hypothesized a positive relationship between managerial perceptions and disclosure quality. Preliminary results found a correlation, supporting the view that perceptions influence reporting behavior. The study aims to provide evidence for regulators on factors influencing disclosure to improve accounting regulations and standards.
A critical analysis of equity ownership structure on firm’s performanceAlexander Decker
This document summarizes research on the relationship between equity ownership structure and firm performance. It discusses how ownership concentration, identity of owners (e.g. state, institutional, foreign), and dispersed ownership can influence agency problems and firm performance. The literature review found mixed results, with some studies indicating ownership structure only affects accounting performance and not market value, while others found no systematic relationship between ownership structure and performance. The document also discusses measures of firm performance like return on assets, return on equity, and price-earnings ratio.
Corporate Governance And Earnings Management In Latin American Marketsjesaenz
This document summarizes a research paper that examines the relationship between corporate governance mechanisms and earnings management in Latin American markets. The researchers analyze how factors like board size, ownership structure, and government effectiveness impact earnings management. They find that larger boards are less effective at oversight and increase earnings manipulation. Ownership concentration and more frequent board meetings reduce manipulation. Countries with lower corruption and stronger rule of law also have less earnings management. This study contributes to understanding how corporate governance impacts financial reporting quality in emerging markets.
This study attempts to investigate the role of Corporate Governance in mitigating agency cost. For
this purpose a sample of 100 firms selected on the basis of 100 INDEX of Karachi Stock Exchange during the
period 2007 to 2011. To do so, alternative proxies for agency costs are employing: the ratio of total sales to total
assets (asset turnover) and the ratio of selling, general & administrative expenses (SG&A) to total sales.
Multivariate fixed effect regression is used to analyze the data. The explanatory variables include director
ownership, institutional ownership, ownership Concentration, board size, CEO/Chair duality, Non Executive
Directors, Debt Ratio, remuneration structure and board independence. The analysis is controlled for the
influence of company size. The results show that higher director and institutional ownership reduces the level of
agency cost. Smaller sized boards also results in lowering agency cost. Board independence has positive
association with asset utilization ratio. The separation of the post of CEO and chairperson and higher
remuneration lower agency cost. Bank debt constitutes one of the most important Corporate Governance devices
for Pakistani Listed Companies. Also, managerial ownership, managerial compensation and ownership
concentration seem to play an important role in mitigating agency costs
Risk management as a conduit of effective corporate governance and financial ...Alexander Decker
This document discusses the relationship between corporate governance, risk management, and financial performance of small and medium enterprises (SMEs) in Ghana. It argues that risk management should be incorporated into corporate governance frameworks as an important measure of effective governance. The document reviews literature showing that both corporate governance and risk management positively impact financial performance by reducing costs and improving access to resources. Empirical studies of SMEs in Ghana demonstrate relationships between governance practices like board composition and size, and financial metrics like profitability. The document concludes that including risk management assessments can help SMEs obtain external funding by demonstrating consistent governance.
Brennan, Niamh M. and Solomon, Jill [2008] Corporate Governance, Accountabili...Prof Niamh M. Brennan
Purpose – This paper reviews traditional corporate governance and accountability research, to suggest opportunities for future research in this field. The first part adopts an analytical frame of reference based on theory, accountability mechanisms, methodology, business sector/context, globalisation and time horizon. The second part of the paper locates the seven papers in the special issue in a framework of analysis showing how each one contributes to the field. The paper presents a frame of reference which may be used as a 'roadmap' for researchers to navigate their way through the prior literature and to position their work on the frontiers of corporate governance research.
Design/methodology/approach – The paper employs an analytical framework, and is primarily discursive and conceptual.
Findings – The paper encourages broader approaches to corporate governance and accountability research beyond the traditional and primarily quantitative approaches of prior research. Broader theoretical perspectives, methodological approaches, accountability mechanism, sectors/contexts, globalisation and time horizons are identified.
Research limitations/implications – Greater use of qualitative research methods are suggested, which present challenges particularly of access to the “black box” of corporate boardrooms.
Originality/value – Drawing on the analytical framework, and the papers in the special issue, the paper identifies opportunities for further research of accountability and corporate governance.
Corporate Governance and Firm Performance: The Role of Transparency & Disclos...Muhammad Arslan
Purpose: This purpose of this paper is to empirically examine the relationship between transparency and disclosure and firm performance. Highlighting the importance of corporate governance in banking sector, the paper has focused in depth over its role, level and its impact on performance in banking industry of Pakistan. Design/methodology/approach: The paper access this purpose by constructing transparency and disclosure index for the past five year 2007-2011, using proxies for three sub-categories which are board and management structure disclosure, ownership structure disclosure and financial transparency disclosure. The paper also investigated structural changes of T&D Index and its effect on bank financial performance over the sample of 30 banks operating in Pakistan. Findings: Empirical analysis results by using ordinary least square regression model, reveals that financial performance is positively related to the transparency and disclosure and their sub levels except ownership structure disclosure which has negative relation with both ROA and ROE. Furthermore the average T&D level in Pakistani banking sector is above average. Practical implications: The current research paper aims for important policy implementation to reduce information asymmetry and improve corporate governance and firm performance in banking sector of Pakistan.
This document summarizes a research paper that examines the relationship between transparency and disclosure and firm performance in the banking sector of Pakistan. It constructs a transparency and disclosure index for 30 Pakistani banks from 2007-2011 based on proxies for board structure, ownership structure, and financial transparency. An empirical analysis using regression models finds that financial performance is positively related to the transparency index and its sub-indexes for board structure and financial transparency, but negatively related to the ownership structure sub-index. On average, the transparency and disclosure level in Pakistani banks is above average. The research aims to improve corporate governance and reduce information asymmetry in the banking sector through policy recommendations.
A proposed model of balance score cards for enterprise governanceAlexander Decker
This document proposes a model for a balanced scorecard approach to enterprise governance. It begins by defining enterprise governance and discussing existing governance frameworks. It then reviews balanced scorecards, which use financial and non-financial metrics across four perspectives - financial, customer, internal processes, and learning and growth. The document suggests that a balanced scorecard could provide a framework to evaluate an enterprise's governance across conformance with standards and policies, as well as performance and strategic objectives. It proposes testing a model that applies the balanced scorecard approach to comprehensively assess an enterprise's governance arrangements and outcomes.
11.a proposed model of balance score cards for enterprise governanceAlexander Decker
This document proposes a model for balanced scorecards for enterprise governance. It consists of two parts:
1. The conformance balanced scorecard with 5 dimensions: financial indicators, customer satisfaction, operations systems, employee factors, and compliance.
2. The performance balanced scorecard with 6 dimensions: SWOT analysis, strategy implementation, technology needs, HR decisions, mergers and acquisitions, and risk management.
The model is intended to help boards of directors evaluate enterprise governance in terms of both accountability (conformance) and value creation (performance). It draws on prior literature discussing balanced scorecards and their use in assessing strategic decision making, resource allocation, and risk management at the enterprise level.
Earnings managment and ownership structure evidence from nigeriaAlexander Decker
This document examines the relationship between ownership structure and earnings management in Nigeria using data from the banking sector. It discusses prior literature on earnings management and how it relates to insider ownership, institutional ownership, and external block ownership. The study aims to determine if there are significant relationships between each type of ownership and earnings management. The methodology employs a pooled data design using secondary data from 10 Nigerian banks from 2006-2010. Regression analysis will be used to analyze the relationships and test hypotheses regarding the impact of ownership structure on earnings management.
Impact of Corporate Governance on Organizational PerformanceJenıstön Delımä
Citation: Delima, V. J., & Ragel, V. R. (2017). Impact of corporate governance on organizational performance. International Journal of Engineering Research and General Science, 5(5).
Abstract- This study examined whether corporate governance has impact on organizational performance in Financial Institutions as research problem. This research was carried out with objective to measure association between Corporate Governance and Financial Institution’s Performance in Batticaloa district. Conceptual framework has been developed to measure linkages between Corporate Governance and Financial Institution’s Performance. Board Size, Corporate Governance Mechanism, Communication Strategies, and Code of Conduct are considered as the measurement variables of Corporate Governance which was derived from Changezi & Saeed (2013) and Customer Satisfaction, Employee Commitment and Corporate Reputation are considered as the measurement variable of Organizational Performance which was derived from Bayoud (2012) and Carton (2004). Questionnaires were used to collect data for this study. 115 Management Respondents and 115 Customers from whole Financial Institutions in Batticaloa district have been selected for this study. Data were analyzed and evaluated by Univariate and Bivariate techniques. In Univariate analysis, Descriptive statistic has been used for the analysis. In Bivariate analysis, Correlation and multiple regressions have been used for the analysis. Findings have shown the Corporate Governance and Organizational Performance are at high level. Moreover, it also found that there is a strong positive relationship between Corporate Governance and Organizational Performance. Corporate Governance significantly impacts Organizational Performance of Financial Institutions. These findings would be useful to consider more on Corporate Governance practices to avoid the Corporate Collapses and to achieve successful Organizational Performance
Determinants of capital_structure_an_empR Ehan Raja
This document summarizes a research paper that investigates the determinants of capital structure for manufacturing firms in Pakistan. The paper reviews various capital structure theories and identifies firm-specific factors that may influence a firm's debt ratio. An empirical analysis is then conducted using data from 160 Pakistani manufacturing firms to determine which factors, such as profitability, size, liquidity, etc., are significantly related to the debt ratios of these firms. The findings indicate several factors predicted by trade-off theory, pecking order theory, and agency theory help explain the financing behavior of Pakistani firms, suggesting some universal applicability of capital structure models from Western settings.
This document is a dissertation submitted by Mohit Kumar to Leeds University Business School in partial fulfillment of an MSc in Finance and Investment. The dissertation examines the impact of managerial ownership on firm performance during a financial crisis using a sample of 180 UK firms from 2009-2011. The dissertation includes an abstract, acknowledgements, table of contents, literature review on the relationship between ownership structure and firm performance, research methods and methodology, findings and conclusions.
Brennan, Niamh M. [2010] “A Review of Corporate Governance Research: An Irish...Prof Niamh M. Brennan
An overview of corporate governance is provided in this chapter, commencing with a discussion of alternative definitions of governance. Internal and external mechanisms of governance are described. The role of boards of directors, and theories explaining those roles, are also considered. In order to provide some insights into governance research, 15 academic papers with an Irish angle were selected for analysis, by reference to theoretical perspective, governance mechanism studied, research method adopted and results. The analytical table demonstrates the variety of research conducted. Some concluding comments are then drawn.
The relationship between free cash flows and agency costs levels evidence fro...Alexander Decker
This document summarizes previous research on the relationship between free cash flows and agency costs. It discusses how high levels of free cash flow can lead to agency problems as managers may invest in negative NPV projects. Previous studies found support for Jensen's free cash flow theory and showed that mechanisms like debt and dividends can help control agency costs by reducing excess cash under managers' discretion. The purpose of the current study is to examine how Iranian firms use dividends and leverage to address agency problems from free cash flows.
Brennan, Niamh M. [2008] “Introduction. Corporate Governance and Financial Re...Prof Niamh M. Brennan
Corporate governance is the subject of a burgeoning literature. Accordingly it is impossible to summarise an entire field in a book of readings. For this reason, I have focused this selection of readings on the financial reporting aspects of corporate governance, which marries two of my research interests. Given the speed of change in the area of corporate governance, generally-speaking the volume of readings is skewed towards more recent publications. However, some seminal material is included from which a considerable amount of corporate governance empirical research was derived, especially Jensen and Meckling (1976), Fama & Jensen (1983) and Jensen (1993). Denis (2001) suggests that the groundswell for research on corporate governance by financial economists stated with Jensen and Meckling’s (1976) paper on the theory of the firm and featuring agency theory.
This is a focussed interdisciplinary compilation of readings which brings together corporate governance and financial reporting, and issues of accountability. It does not comprise a broad coverage of all corporate governance issues. Instead, it takes a narrower perspective, concentrating only on those corporate governance mechanisms influencing financial reporting and accountability.
Impact of corporate governance on firm performance publishedMuhammad Usman
In the light of corporate financial scandals, there is an increasing attention on corporate governance issues. The investors look for emerging economies to diversify their investment portfolios to exhaust the possibilities of returns. This paper examines the impact of corporate governance variables on firms’ performance. This Research found that there is a direct positive relationship between profitability measured either by Earnings per share (EPS) or Return on assets (ROA) and corporate governance, also have a positive direct relationship between each of liquidity, dividend per share, and the size of the company with corporate governance, finally the study found a positive direct relationship between corporate governance and corporate performance. Various studies have been conducted in developing countries including Pakistan to investigate the relationship among corporate governance and firm performance. This study indicates that corporate governance can be measured through the following elements.
(1) board size (2) Female Member (3) CEO duality (4) Education of Directors (5) Board working experience(6) independent directors (7) board compensation (8) Board ownership (9) Audit committee (10) Board composition(11)Leadership Structure
Impact of corporate governance on firm performance publishedMuhammad Usman
In the light of corporate financial scandals, there is an increasing attention on corporate governance issues. The investors look for emerging economies to diversify their investment portfolios to exhaust the possibilities of returns. This paper examines the impact of corporate governance variables on firms’ performance. This Research found that there is a direct positive relationship between profitability measured either by Earnings per share (EPS) or Return on assets (ROA) and corporate governance, also have a positive direct relationship between each of liquidity, dividend per share, and the size of the company with corporate governance, finally the study found a positive direct relationship between corporate governance and corporate performance. Various studies have been conducted in developing countries including Pakistan to investigate the relationship among corporate governance and firm performance. This study indicates that corporate governance can be measured through the following elements.
(1) board size (2) Female Member (3) CEO duality (4) Education of Directors (5) Board working experience(6) independent directors (7) board compensation (8) Board ownership (9) Audit committee (10) Board composition(11)Leadership Structure
The Impact of Capital Structure on the Performance of Industrial Commodity an...IJEAB
This paper investigates the impact of capital structure on the performance of commodity and service firms listed on the Vietnamese Stock Exchange. Data used in the paper were collected from the 142 firms listed on Ho Chi Minh and Ha Noi Stock Exchange during time 2009-2015. By using the descriptive statistics and linear regression model, the findings shows that there is negative relationship between capital structure (e.i. STD. LTD and DA) and peformance of the firms (i.e. ROE) for the commodity and services firms listed on two given Stock Exchange Market of Vietnam. Following are possible implications for the study.
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Abnormalities of hormones and inflammatory cytokines in women affected with p...Alexander Decker
Women with polycystic ovary syndrome (PCOS) have elevated levels of hormones like luteinizing hormone and testosterone, as well as higher levels of insulin and insulin resistance compared to healthy women. They also have increased levels of inflammatory markers like C-reactive protein, interleukin-6, and leptin. This study found these abnormalities in the hormones and inflammatory cytokines of women with PCOS ages 23-40, indicating that hormone imbalances associated with insulin resistance and elevated inflammatory markers may worsen infertility in women with PCOS.
A usability evaluation framework for b2 c e commerce websitesAlexander Decker
This document presents a framework for evaluating the usability of B2C e-commerce websites. It involves user testing methods like usability testing and interviews to identify usability problems in areas like navigation, design, purchasing processes, and customer service. The framework specifies goals for the evaluation, determines which website aspects to evaluate, and identifies target users. It then describes collecting data through user testing and analyzing the results to identify usability problems and suggest improvements.
A universal model for managing the marketing executives in nigerian banksAlexander Decker
This document discusses a study that aimed to synthesize motivation theories into a universal model for managing marketing executives in Nigerian banks. The study was guided by Maslow and McGregor's theories. A sample of 303 marketing executives was used. The results showed that managers will be most effective at motivating marketing executives if they consider individual needs and create challenging but attainable goals. The emerged model suggests managers should provide job satisfaction by tailoring assignments to abilities and monitoring performance with feedback. This addresses confusion faced by Nigerian bank managers in determining effective motivation strategies.
A unique common fixed point theorems in generalized dAlexander Decker
This document presents definitions and properties related to generalized D*-metric spaces and establishes some common fixed point theorems for contractive type mappings in these spaces. It begins by introducing D*-metric spaces and generalized D*-metric spaces, defines concepts like convergence and Cauchy sequences. It presents lemmas showing the uniqueness of limits in these spaces and the equivalence of different definitions of convergence. The goal of the paper is then stated as obtaining a unique common fixed point theorem for generalized D*-metric spaces.
A trends of salmonella and antibiotic resistanceAlexander Decker
This document provides a review of trends in Salmonella and antibiotic resistance. It begins with an introduction to Salmonella as a facultative anaerobe that causes nontyphoidal salmonellosis. The emergence of antimicrobial-resistant Salmonella is then discussed. The document proceeds to cover the historical perspective and classification of Salmonella, definitions of antimicrobials and antibiotic resistance, and mechanisms of antibiotic resistance in Salmonella including modification or destruction of antimicrobial agents, efflux pumps, modification of antibiotic targets, and decreased membrane permeability. Specific resistance mechanisms are discussed for several classes of antimicrobials.
A transformational generative approach towards understanding al-istifhamAlexander Decker
This document discusses a transformational-generative approach to understanding Al-Istifham, which refers to interrogative sentences in Arabic. It begins with an introduction to the origin and development of Arabic grammar. The paper then explains the theoretical framework of transformational-generative grammar that is used. Basic linguistic concepts and terms related to Arabic grammar are defined. The document analyzes how interrogative sentences in Arabic can be derived and transformed via tools from transformational-generative grammar, categorizing Al-Istifham into linguistic and literary questions.
A time series analysis of the determinants of savings in namibiaAlexander Decker
This document summarizes a study on the determinants of savings in Namibia from 1991 to 2012. It reviews previous literature on savings determinants in developing countries. The study uses time series analysis including unit root tests, cointegration, and error correction models to analyze the relationship between savings and variables like income, inflation, population growth, deposit rates, and financial deepening in Namibia. The results found inflation and income have a positive impact on savings, while population growth negatively impacts savings. Deposit rates and financial deepening were found to have no significant impact. The study reinforces previous work and emphasizes the importance of improving income levels to achieve higher savings rates in Namibia.
A therapy for physical and mental fitness of school childrenAlexander Decker
This document summarizes a study on the importance of exercise in maintaining physical and mental fitness for school children. It discusses how physical and mental fitness are developed through participation in regular physical exercises and cannot be achieved solely through classroom learning. The document outlines different types and components of fitness and argues that developing fitness should be a key objective of education systems. It recommends that schools ensure pupils engage in graded physical activities and exercises to support their overall development.
A theory of efficiency for managing the marketing executives in nigerian banksAlexander Decker
This document summarizes a study examining efficiency in managing marketing executives in Nigerian banks. The study was examined through the lenses of Kaizen theory (continuous improvement) and efficiency theory. A survey of 303 marketing executives from Nigerian banks found that management plays a key role in identifying and implementing efficiency improvements. The document recommends adopting a "3H grand strategy" to improve the heads, hearts, and hands of management and marketing executives by enhancing their knowledge, attitudes, and tools.
This document discusses evaluating the link budget for effective 900MHz GSM communication. It describes the basic parameters needed for a high-level link budget calculation, including transmitter power, antenna gains, path loss, and propagation models. Common propagation models for 900MHz that are described include Okumura model for urban areas and Hata model for urban, suburban, and open areas. Rain attenuation is also incorporated using the updated ITU model to improve communication during rainfall.
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This document discusses contraceptive use in Punjab, Pakistan. It begins by providing background on the benefits of family planning and contraceptive use for maternal and child health. It then analyzes contraceptive commodity data from Punjab, finding that use is still low despite efforts to improve access. The document concludes by emphasizing the need for strategies to bridge gaps and meet the unmet need for effective and affordable contraceptive methods and supplies in Punjab in order to improve health outcomes.
A synthesis of taylor’s and fayol’s management approaches for managing market...Alexander Decker
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A survey paper on sequence pattern mining with incrementalAlexander Decker
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A survey on live virtual machine migrations and its techniquesAlexander Decker
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2. Media content convergence challenges include dealing with the heterogeneity of media types, services, networks, devices, and quality of service requirements as well as integrating technologies used by media providers and consumers.
3. Scalability and expandability challenges involve adapting to the increasing volume of media content and being able to support new media formats and outlets over time.
This document surveys trust architectures that leverage provenance in wireless sensor networks. It begins with background on provenance, which refers to the documented history or derivation of data. Provenance can be used to assess trust by providing metadata about how data was processed. The document then discusses challenges for using provenance to establish trust in wireless sensor networks, which have constraints on energy and computation. Finally, it provides background on trust, which is the subjective probability that a node will behave dependably. Trust architectures need to be lightweight to account for the constraints of wireless sensor networks.
This document discusses private equity investments in Kenya. It provides background on private equity and discusses trends in various regions. The objectives of the study discussed are to establish the extent of private equity adoption in Kenya, identify common forms of private equity utilized, and determine typical exit strategies. Private equity can involve venture capital, leveraged buyouts, or mezzanine financing. Exits allow recycling of capital into new opportunities. The document provides context on private equity globally and in developing markets like Africa to frame the goals of the study.
This document discusses a study that analyzes the financial health of the Indian logistics industry from 2005-2012 using Altman's Z-score model. The study finds that the average Z-score for selected logistics firms was in the healthy to very healthy range during the study period. The average Z-score increased from 2006 to 2010 when the Indian economy was hit by the global recession, indicating the overall performance of the Indian logistics industry was good. The document reviews previous literature on measuring financial performance and distress using ratios and Z-scores, and outlines the objectives and methodology used in the current study.
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إضغ بين إيديكم من أقوى الملازم التي صممتها
ملزمة تشريح الجهاز الهيكلي (نظري 3)
💀💀💀💀💀💀💀💀💀💀
تتميز هذهِ الملزمة بعِدة مُميزات :
1- مُترجمة ترجمة تُناسب جميع المستويات
2- تحتوي على 78 رسم توضيحي لكل كلمة موجودة بالملزمة (لكل كلمة !!!!)
#فهم_ماكو_درخ
3- دقة الكتابة والصور عالية جداً جداً جداً
4- هُنالك بعض المعلومات تم توضيحها بشكل تفصيلي جداً (تُعتبر لدى الطالب أو الطالبة بإنها معلومات مُبهمة ومع ذلك تم توضيح هذهِ المعلومات المُبهمة بشكل تفصيلي جداً
5- الملزمة تشرح نفسها ب نفسها بس تكلك تعال اقراني
6- تحتوي الملزمة في اول سلايد على خارطة تتضمن جميع تفرُعات معلومات الجهاز الهيكلي المذكورة في هذهِ الملزمة
واخيراً هذهِ الملزمة حلالٌ عليكم وإتمنى منكم إن تدعولي بالخير والصحة والعافية فقط
كل التوفيق زملائي وزميلاتي ، زميلكم محمد الذهبي 💊💊
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A Visual Guide to 1 Samuel | A Tale of Two HeartsSteve Thomason
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THE SACRIFICE HOW PRO-PALESTINE PROTESTS STUDENTS ARE SACRIFICING TO CHANGE T...indexPub
The recent surge in pro-Palestine student activism has prompted significant responses from universities, ranging from negotiations and divestment commitments to increased transparency about investments in companies supporting the war on Gaza. This activism has led to the cessation of student encampments but also highlighted the substantial sacrifices made by students, including academic disruptions and personal risks. The primary drivers of these protests are poor university administration, lack of transparency, and inadequate communication between officials and students. This study examines the profound emotional, psychological, and professional impacts on students engaged in pro-Palestine protests, focusing on Generation Z's (Gen-Z) activism dynamics. This paper explores the significant sacrifices made by these students and even the professors supporting the pro-Palestine movement, with a focus on recent global movements. Through an in-depth analysis of printed and electronic media, the study examines the impacts of these sacrifices on the academic and personal lives of those involved. The paper highlights examples from various universities, demonstrating student activism's long-term and short-term effects, including disciplinary actions, social backlash, and career implications. The researchers also explore the broader implications of student sacrifices. The findings reveal that these sacrifices are driven by a profound commitment to justice and human rights, and are influenced by the increasing availability of information, peer interactions, and personal convictions. The study also discusses the broader implications of this activism, comparing it to historical precedents and assessing its potential to influence policy and public opinion. The emotional and psychological toll on student activists is significant, but their sense of purpose and community support mitigates some of these challenges. However, the researchers call for acknowledging the broader Impact of these sacrifices on the future global movement of FreePalestine.
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11.vol 0003www.iiste.org call for paper no 1 pp 26-44
1. Issues in Social and Environmental Accounting
Vol. 3, No. 1 June 2009
Pp. 26-44
Varying the Quality of Business Communica-
tion Caused by Compliance of Different
Accounting Rules
Agus Setyadi
Rusmin Rusmin
Greg Tower
Alistair M. Brown
School of Accounting
Curtin University, Western Australia
Abstract
This study examines the extent of Indonesian companies’ compliance with the Indonesian ac-
counting regulations (IARC) of inventory, fixed assets, and depreciation by analyzing 160 In-
donesian listed companies’ 2006 annual reports. This study also looks at potential factors that
explain the level of this compliance. Analysis reveals a high level of 71.63% inventory compli-
ance, 51.13% fixed assets compliance, and 99.69% depreciation compliance with accounting
rules. T-test and regression analysis show that firm size is a significant predictor of accounting
compliance. Importantly, ownership and governance structures do not influence the level of
compliance. Although Indonesian firms complied with more than 50% of the key accounting
rule provisions, regulatory intervention appears needed to improve compliance. Such regulation
might include sanctions as promulgated by multilateral financial organizations (World Bank
2005).
Keywords: compliance, Indonesia, listed firms, ownership concentration, govern-
ance structures, regulatory intervention and accounting standards
Introduction depreciation. This study also examines
factors that influence listed companies
This study examines the extent of Indo- compliance with these Indonesian ac-
nesian companies’ compliance with the counting standards. These factors in-
Indonesian accounting regulations clude ownership concentration (top one
(IARC) of inventory, fixed assets, and shareholder), corporate governance
Dr Agus Setyadi recently completed his research doctorate at Curtin University on Indonesian Accounting Reporting
Compliance, cutting-edge research that looked at the troublesome plight of reporting compliance in the third world. Dr
Rusmin has published widely in the research avenues of six scholarly text books, 29 fully refereed journal articles and
19 fully refereed international conference papers. He also has successfully obtained two external research grant funds.
Finally, he has received two awards and two scholarships, email: rusmin@cbs.curtin.edu.au. Greg Tower is the re-
search professor in the School of Accounting at Curtin Business School, Curtin University of Technology, Perth, Aus-
tralia, email: greg_tower@cbs.curtin.edu.au. Alistair Brown is a professor of accounting at Curtin University, Austra-
lia, and a visiting professor of accounting (Chutian Scholar) at Zhongnan University of Economics and Law, China.,
email: Alistair.Brown@cbs.curtin.edu.au
2. A. Setyadi, et. al. / Issues in Social and Environmental Accounting 1 (2009) 26-44 27
(independent commissioners), size of study which advances the notion that, in
firm, auditor type, ROA (Return on As- capital markets, agency problems arise
sets), and industry categories. Control where there is a conflict of interest aris-
variables are also used including expert ing from divergent goals between princi-
commissioners, leverage, business com- pal and agent (Jenson and Meckling,
plexity, and independent audit commit- 1976), and difficulties in monitoring
tee. agents’ actions (Eisenhardt, 1989). In
capital markets, stakeholders will reduce
This study is important for a number of the costs that they want to pay for a
reasons. According to the Indonesian company’s shares by predicting the ex-
Capital Market Supervisory Agency tent of managers’ agency costs (Kurth
(Bapepam, 2000; 2003), the regulatory and Lehnert 2006). In theory, a firm will
body in Indonesia, accounting compli- select ownership and corporate govern-
ance is a critical issue in Indonesia’s ance structures that are well organized to
financial markets, particularly as a reduce agency costs (Fauver and Fuerst
means of contributing to the national 2006). This theory advances the notion
economy as an emerging country (World that, in capital markets, agency problems
Bank 2006). Further, compliance im- arise where there is a conflict of interest
proves transparency (Bapepam, 2004; arising from divergent goals between
JSX 2004b), by allowing standards to be principal and agent, and difficulties in
comprehensively relied upon by Indone- monitoring agents’ actions (Eisenhardt,
sian-listed users of annual reports 1989). In capital markets, stakeholders
(Bapepam 2000; 2003). will reduce the costs that they want to
pay for a company’s shares by predict-
Using statistical analysis, this study in- ing the extent of managers’ agency costs
vestigates the degree to which the Indo- (Kurth and Lehnert 2006). In theory, a
nesian-listed firms comply with the In- firm will select ownership and corporate
donesian accounting standards. This governance structures that are well or-
study finds that a high level of 71.63% ganized to reduce agency costs (Fauver
inventory compliance, 51.13% fixed and Fuerst 2006). The main issue re-
assets compliance, and 99.69% deprecia- garding the firm is the information
tion compliance with accounting rules. asymmetry between agents and princi-
pals. In terms of information asymmetry,
This paper proceeds as follows. The next communication between agents and
section discusses past literature and hy- principals might not always be effective
potheses development. This is followed (Brennan 2006). Information asymmetry
by a description of the research method happens when the principals’ ability to
employed. Two further sections present oversee the agents’ performances and
the descriptive statistics and additional jobs are limited. Agency theory, in this
statistical analysis, respectively. Impli- situation, predicts that the agents could
cations and conclusions of the paper are decrease their performance or may even
covered in the final section. shirk their responsibilities due to their
ability to conceal such performance defi-
Literature Review ciencies from the principals (Kunz and
Pfaff 2002).
Agency theory is used to inform this
3. 28 A. Setyadi, et. al. / Issues in Social and Environmental Accounting 1 (2009) 26-44
The findings of Shleiver and Vishny ownership structures, particularly in the
(1997) and McColgan (2001) suggest form of family ownership (Claessens,
that ownership concentration and inde- Djankov and Lang 1999; Lins 2003).
pendent commissioners are the key de- When ownership is concentrated to a
terminants in terms of agency theory. degree where the single largest share-
The costs of the agency problems, holder has effective control of the firm,
‘agency costs’, can be reduced by vary- the nature of the agency problem shifts
ing the governance and ownership struc- away from the agent-principal conflict.
tures. In this regard, agency problems Principals-managers problems will be
occurring from conflicts of interests be- less likely to be about managements
tween principals and agents could be (agents) versus owners (shareholders)
reduced if the ownership (principals) but more focused on minority sharehold-
was less concentrated and if the monitor- ers versus controlling shareholders
ing between the agent and principal was (Berglof and Claessens 2004). Shleiver
improved by greater independent scru- and Vishny (1997) argue that, as owner-
tiny. This research offers a useful and ship gets beyond a certain point, large
practical application of agency theory in owners gain nearly full control and pre-
ownership structure and corporate gov- fer to use firms to generate private bene-
ernance mechanism context by seeking fits that are not shared by minority
to answer the following overarching re- shareholders. Studies by La Porta, Lopez
search question: Are the concepts of -de-Silanes, Shleiver, and Vishny (1998)
ownership structures and corporate gov- and Shleiver and Vishny (1997) show
ernance significant determinants of ac- the problems associated with high own-
counting regulatory compliance in Indo- ership concentration, and the agency
nesia? conflict between large and small share-
holders. When large shareholders effec-
Ownership concentration (Top one tively control corporations, their policies
shareholder) may result in the expropriation of wealth
from minority shareholders. The con-
Some owners, by virtue of the size of flicts of interest between large and small
their equity positions, effectively have shareholders can be numerous, including
some control over the firms they own controlling shareholders enriching them-
(Villalonga and Amit 2004). In modern selves by transferring profits to other
companies, conflicts of interest between companies they control.
corporate insiders, for example control-
ling shareholders and managers, and Ownership concentration in Indonesia is
outside investors, requires close analysis dominated by families or the govern-
(Prasad, Green and Murinde 2001) be- ment (Claessens et al. 1999). Claessens,
cause the company’s ownership struc- Djankov, and Lang (2000) found that
ture is deemed a primary determinant of there is evidence of expropriation of mi-
the extent of agency problems between nority shareholders’ wealth by a major-
controlling insiders and outside inves- ity or controlling shareholders. As a
tors. result, McKinsey (2001) advises that
distinct ownership structures, should be
In general, emerging markets, such as examined more explicitly. To formally
Indonesia, have highly concentrated test the impact of ownership concentra-
4. A. Setyadi, et. al. / Issues in Social and Environmental Accounting 1 (2009) 26-44 29
tion, the following hypothesis is exam- whilst commissioners supervise and ad-
ined: vise the directors. Commissioners pro-
H1 : There is a negative relationship be- vide independent oversight of manage-
tween the level of ownership con- ment and hold management accountable
centration and the level of IARC of to shareholders for its actions. A widely
the firms held view is that boards are more effec-
tive in their monitoring of management
Corporate governance (Independent when there is a strong base of independ-
commissioners) ent commissioners on the board of com-
missioners (Federal Register 2003). This
The issue of corporate governance in condition reduces agency costs associ-
modern corporations arises because of ated with the separation of ownership
the separation of ownership and control, and control. In turn, this encourages
and the diffusion of equity among inves- managers to accept agency control
tors (Berle and Means 1932). The imple- mechanisms. An ideal board of commis-
mentation of corporate governance im- sioners would have a low number of
pacts on the structures through which the commissioners who are employees of
objectives of the company are set the firm, past or present (Davidson, Ne-
(World Bank 2006; Cooper and Owen mec, Worrell and Lin 2002). In the con-
2007), the means by which those objec- text of corporate governance mecha-
tives are attained, the monitoring of per- nisms, the board of commissioners is
formance, and the ways it can be im- properly viewed as the solution for prob-
proved (Ho 2003). The importance of lems arising from agent-principal rela-
corporate governance derived from its tions.
contribution to business prosperity
(Sarkar and Sarkar 2000), accountability Weak corporate governance is viewed as
(Yong and Guan 2000), competitive in- one of the factors that contributed to the
vestment (Claessens, Glassner and Asian financial crisis, including the In-
Klingebiel 2002), transparency OECD donesian experience (Choi 2000). In
2002), and stakeholder confidence Indonesia, Bapepam and Jakarta Stock
(Jacobidies and Winter 2005). Exchange (JSX) now require all compa-
nies listed on stock exchange to have at
However, the application of corporate least 30% of the board as independent
governance in Indonesia is seen as a commissioners (JSX 2004a). It is likely
matter of form rather than of substance that the agency conflict between manag-
(Roche 2005). According to the Com- ers and shareholders can be reduced by a
pany Law No.1/1995, the Indonesian greater level of independent commis-
company has a two tier management sioners. A study by Fitzpatrick (2000) in
structure comprising a board of directors Indonesia emphasizes that external or
headed by a president director and a independent commissioners can improve
board of commissioners headed by a corporate governance. Adam and Me-
president commissioner (Company Law hran (2003) suggested that increases in
1995)1. Directors manage and represent the proportion of outside commissioners
the company on a day to day basis, on the board should increase firm per-
1
formance as they are more effective
Directors and commissioners are appointed by share-
holders at a general meeting (Company Law 1995).
monitors of company managers. To test
5. 30 A. Setyadi, et. al. / Issues in Social and Environmental Accounting 1 (2009) 26-44
the degree of corporate governance as ance with mandatory disclosure.
measured by independent commission-
ers, the following hypothesis is exam- Choice of external auditor is a mecha-
ined: nism that helps improve conflicts of in-
H2 : There is a positive relationship be- terest between agent and owner
tween the level of independence of (principal) (Craswell and Taylor 1992).
the commissioners and the level of Large auditor firms can act as a mecha-
IARC of the firms nism to minimise agency cost and exert
more of monitoring role by limiting op-
Size of firm portunistic behaviour by agents (Jensen
and Meckling 1976; Watts and Zimmer-
Size of firm has an important effect on a man 1983). DeAngelo (1981) finds that
firm to disclose compulsorily its corpo- companies audited by the major auditor
rate information (Owusu-Ansah 1998). firms have substantial agency costs, and
Relative to a small firm, a large firm has try to reduce agency costs by employing
consideralbly more resources to devote the major auditor firms. Thus, on the
to corporate reporting (Alchian 1969). basis of this position, it is hypothesized
Large firms are also likely to have a va- that:
riety of divisions which require exten- H4: There is a positive relationship be-
sive reporting to satisfy stakeholders tween firms audited by Big 4 audi-
(Dye 1990). Descriptive studies tor and the level of IARC of the
(Wallace, Naser and Mora 1994; In- firms
chausti 1997) indicate a positive associa-
tion between firm size and compliance ROA (Return on Assets)
with corporate reporting requirements. It
is, therefore, hypothesised in the rela- The capital market rewards profitable
tionship between firm size and compli- firms by increasing their share price,
ance with corporate reporting require- which, provides managers with incen-
ments in Indonesia, that: tives to generate greater information in
H3 : There is a positive relationship be- the annual reports. Previous studies
tween the level of firm size and the (Wallace and Naser 1995; Inchausti
level of IARC of the firms 1997) argue that ROA is an important
factor affecting the level at which firms
Auditor type release obligatory data on corporate re-
ports. Other previous studies suggest
This research investigates the relation- that compliance with international ac-
ship between auditor type and regulatory counting standards by profitable firms is
compliance in the Indonesian context. one way to signal superior performance
Previous studies (Wallace and Naser to the market (Dumontier and Raf-
1995) find that level of compliance with fournier 1998). Leuz (2003) forecasted
mandatory disclosure is less for compa- that firms with large profits are more
nies audited by one of the major auditor likely to comply with international ac-
firms in Hong Kong, but Patton and Ze- counting standards that with firms with
lenka (1997) finds that more firms au- smaller profits. It is, therefore, hypothe-
dited by the major auditor firms in the sised on the relationship between ROA
Czech Republic showed higher compli- and compliance requirements in Indone-
6. A. Setyadi, et. al. / Issues in Social and Environmental Accounting 1 (2009) 26-44 31
sia, that: counting standards of inventory, fixed
H5 : There is a positive relationship be- asset, and depreciation of fixed assets
tween firms with larger ROA (IAI 2006). The level of compliance
(Return on Assets) and the level of with each of these Indonesian account-
IARC of the firms ing standards is measured by a self con-
structed compliance index consistent
Industry categories with prior studies (Al-Basteki 1995;
Dumontier and Raffournier 1998; El-
The application of accounting policies Gazzar, Finn and Jacob 1999; Murphy
might differ by industry (Mubarak and 1999; Tower et al. 1999; Street and Bry-
Hassan 2006). ant 2000; Street and Gray 2002; Glaum
and Street 2003; Tarca 2004). These
The characteristics of industries may standards are composed of the following
show up differences in disclosure and number of explicit requirements: inven-
reporting regulatory compliance (Ghose tory - 9 requirements; fixed asset – 16
2006). Many past studies (Ng and Koh requirements and depreciation - 4 re-
1993; Tower, Hancock and Taplin 1999; quirements, a total of 29 items (Setyadi,
Taplin, Tower and Hancock 2002) have Rusmin, Brown and Tower 2007). Con-
classified industry by four categories: sistent with prior studies each required
resources, manufacturers, financial, and item on the checklist is coded one if it is
services industries. However, the indus- disclosed and zero if the item is not dis-
try environment in Indonesia is unique. closed. The IARCinv is computed as the
Rosser (1999) and Craig and Diga actual total number of inventory re-
(1998) note that the real estate industry quired items provided by the Indonesian
is one of dominant sectors in Indonesian -listed companies on their annual reports
economy activities. Financial industries divided by the maximum inventory ap-
are excluded, because they are funda- plicable score. IARCfa is calculated as
mentally different and they have their the actual total number of fixed assets
own rules from Central Bank (Bank In- required items provided by the Indone-
donesia). Four industry categories for sian-listed companies on their annual
industry classification are thus utilized: reports divided by the maximum fixed
resources firms, manufacturers, real es- assets applicable score. IARCdep is com-
tates companies, and services entities puted as the actual total number of de-
industries. It is hypothesized that: preciation required items provided by
H6: There is a relationship between in- the Indonesian-listed companies on their
dustry categories and the level of annual reports divided by the maximum
IARC of the firms depreciation applicable score.
Independent variables
Research methods
Consistent with Claessens et al., (2000),
Dependent variables top one shareholder ownership is meas-
ured by the proportion of shares owned
This study examines factors that influ- by the top one shareholder to the total
ence Indonesian listed companies com- number of shares issued.
pliance (IARC) with the Indonesian ac-
7. 32 A. Setyadi, et. al. / Issues in Social and Environmental Accounting 1 (2009) 26-44
To accommodate, Indonesia’s two-tiered sioners to the total number of commis-
board structure, this study the ratio of sioners on the Board of Commissioners.
the number of independent commission- Jensen and Meckling (1976) argue that
ers to the total number of commissioners there is a strong link between leverage
on the board of commissioners is used as and disclosure; in this study, leverage is
a proxy for corporate governance. measured as a debt ratio defined as total
debt to total assets. Haniffa and Cooke
Size of firm is measured by the log of a (2002) and Auch (2004) argue that busi-
firm’s total assets in rupiah. Prior re- ness complexity plays a role in the ex-
search recognizes the relationship be- tent of compliance with accounting stan-
tween corporate reporting and firm size. dards; this is measured as a presence of a
Ahmed and Courtis (1999) state that subsidiary of a listed firm where 1 is a
firm size an essential factor in corporate firm which has at least one subsidiary;
reporting. and 0 is a firm which does not have any
subsidiaries. Lastly, independent audit
In order to keep auditors’ reputation, committee is measured as ratio of the
audit firms ask clients to disclose all im- number of independent audit committee
portant information in their report to the total number of committee on the
(Chalmers and Godfrey 2004). Consis- Audit Committee (Klein 2002; Zhang,
tent with Barako, Hancock and Izan Zhou and Zhou 2007).
(2006), this study measures auditor type
by the presence of Big 4 auditors versus Statistical analysis and sample selec-
non Big 4 auditors in publicly listed tion
firms where 1 if Big 4, and 0 if other-
wise. This is consistent with previous This study uses multiple regression with
research three metric dependent variables
(Indonesian Accounting Regulatory
Singhvi and Desai (1971) and Haniffa Compliance - IARC: IARCinv, IARCfa
and Cooke (2002) argue that the Board and IARCdep) and five independent
of Directors (in Indonesia’s case) are variables (top one shareholder, inde-
encouraged to disclose information in pendent commissioners, and firm size as
detail to maintain positions and compen- metric; and industry categories and audi-
sation. In this study, ROA is measured tor type as a non-metric categorical),
as net profit divided by total assets. This with four control variables (business
is consistent with prior studies (Ali, Ah- complexity, and independent audit com-
med and Henry 2004; Barako et al. mittee as non-metric categorical; and
2006). leverage as a metric). The main statisti-
cal method utilized to test hypotheses is
Finally, four industry categories are Ordinary Least Square (OLS) regres-
measured as classification of industries sion:
into resources, manufacturers, real es-
tate, and services. This study examines a random sample of
160 annual reports of non-financial
Four control variables are also analysed. listed companies on the JSX for the pe-
Expert commissioners are measured as a riod of 1 January to 31 December 2006.
ratio of the number of expert commis- The sample is 56.74% (or 160 annual
8. A. Setyadi, et. al. / Issues in Social and Environmental Accounting 1 (2009) 26-44 33
reports) and derived from the population and a maximum of 100.00% compli-
of 282 non-financial firms listed on JSX. ance. The mean of depreciation compli-
Financial listed firms are excluded from ance is 99.69% (standard deviation of
this compliance study because they have 2.786%), with a minimum of 75.00%
their own rules from the Central Bank compliance and a maximum of 100.00%
(Bank Indonesia). Different regulation compliance. There is only one company
applies to financial firms such as banks, (PT Jakarta Setiabudi Internasional
insurance and investment companies, the Tbk.) that totally complied with the ac-
unique nature of transactions and the counting standards requirements.
assets portfolio of such entities (Karim The mean of ownership concentration
and Ahmed 2005). Annual reports are (top one shareholder) is 46.11% with a
chosen as source of data because they lowest concentration of 6.64% and a
are easily accessed McQueen 2001), highest ownership concentration of
useful (Yeoh 2005), communicated 92.88%. The mean level of independent
widely (Anderson 1998; Beattie, McIn- commissioners is 40.91% ranging from
nes and Fearnley 2004), and financially 20.00% to 80.00%. The mean indicates
focused. that, on average Indonesian firms-listed
have total assets of
IDR4,286,884.75million (standard de-
Descriptive Statistics viation: IDR10,961,151.33million). The
mean indicates that, on average Indone-
Table 1 provides descriptive statistics sian firms-listed have ROA of 3.60%
for all of the observations. It shows the (standard deviation: 10.32%). On aver-
mean of inventory compliance is 71.63% age Indonesian firms-listed has leverage
(standard deviation of 15.64%), with a of 52.28% (standard deviation: 31.88%).
minimum of 22.22% compliance and a The mean of independent audit commit-
maximum of 100.00% compliance. The tee is 30.99% ranging from 0% to
mean of fixed assets compliance is 66.67% and the mean of Expert commis-
51.13% (standard deviation of 22.47%), sioners is 51.72% ranging from 0% to
with a minimum of 31.25% compliance 100.00% (see Table 1).
Table 1 Descriptive statistics
No. Minimum Maximum Mean Median Std. Deviation
1 IARCinv 22.22 100.00 71.63 77.78 15.64
2 IARCfa 31.25 100.00 51.13 37.50 22.47
3 IARCdep 75.00 100.00 99.69 100.00 2.79
4 TopOne 6.64 92.88 46.11 48.67 20.62
5 IndCom 20.00 80.00 40.91 40.00 10.56
6 Size -Log 8.85 18.23 13.76 13.89 1.79
7 Size (Assets)2
7000.00 82333378.00 4286884.75 1075000.00 10961151.33
8 ROA -78.01 37.22 3.60 3.30 10.32
9 Leverage 0.10 221.43 52.28 51.24 31.88
10 IndAC 0.00 66.67 30.99 33.33 15.23
11 ExpCom 0.00 100.00 51.72 31.98
50.00
2
Size (Assets): Total assets (in million rupiah).
9. 34 A. Setyadi, et. al. / Issues in Social and Environmental Accounting 1 (2009) 26-44
Table 2 provides descriptive statistics tion as an asset), FA2 (Recorded at its
for individual accounting standards, cost), FA8 (The gross carrying amount),
from INV1 (Lower of cost and net realiz- FA9 (Accumulated depreciation at the
able value) to DEP4 (Consistent from beginning and end of the period), DEP1
period to period) (29 compliance items: (Allocation on a systematic basis),
inventory – 9 items, fixed assets – 16 DEP3 (The depreciation method used)
items, and depreciation – 4 items). It and DEP4 (The useful lives) compliance
shows the level of compliance of compa- with score of 100% respectively. How-
nies with each individual accounting ever, it shows the lowest level of com-
standard. It also shows the highest level pliance of companies with FA11
of compliance of companies with FA1 (Independent valuer was involved) com-
(Fixed assets that qualifies for recogni- pliance with score of 14%.
Table 2 Descriptive statistics for individual accounting standards
No. Variable Title % Compliance
1 INV1 Lower of cost and net realizable value 0.94
2 INV3 Cost of formulas 0.91
3 INV6 Total carrying amount 0.91
4 INV7 Appropriate classification to the entity 0.91
5 INV5 Accounting policy 0.90
6 INV2 The cost of inventories 0.54
7 INV8 Fair value less costs to sell 0.43
8 INV4 Recognition as an expense 0.29
9 INV9 The amount of inventories recognized as an expense during the
0.23
period
10 FA1 Fixed assets that qualifies for recognition as an asset 1.00
11 FA2 Recorded at its cost 1.00
12 FA8 The gross carrying amount 1.00
13 FA9 Accumulated depreciation at the beginning and end of the period 1.00
14 FA3 Amount of accumulated depreciation 0.99
15 FA7 Measurement of gross carrying amount 0.99
16 FA4 Revaluation of fixed assets 0.33
17 FA5 Explain the effect of revaluation 0.31
18 FA6 Difference between revaluation value and book value must be
0.24
recorded on equity account
19 FA10 Effective date of the revaluation 0.24
20 FA15 Each re-valued class of fixed asset 0.20
21 FA12 The revaluation methods used for fixed assets 0.19
22 FA16 The amount of revaluation reserve 0.19
23 FA13 Significant assumptions for items’ fair values 0.18
24 FA14 Items’ fair values were determined 0.18
25 FA11 Independent valuer was involved 0.14
26 DEP1 Allocation on a systematic basis 1.00
27 DEP3 The depreciation method used 1.00
28 DEP4 The useful lives 1.00
29 DEP2 Consistent from period to period 0.99
10. A. Setyadi, et. al. / Issues in Social and Environmental Accounting 1 (2009) 26-44 35
Table 3 shows the frequency of auditor Univariate t-tests and ANOVA statistical
type indicating that the Big 4 firms audit analysis reveal that the different means
49% (or 78) of listed companies in Indo- of compliance between auditor type and
nesia. It also illustrates that 84% (or business complexity are not statistically
134) of the company has at least one significant for IARCinv, IARCfa, and
subsidiary. Table 4 also highlights the IARCdep. However, there are clear in-
four industry categories of listed compa- dustry differences; the results indicate
nies in Indonesia have a wide range. Re- that four industry categories are signifi-
sources has 18% (or 29), manufacturers cant with p-value of 0.00 (p<0.01) only
has 27% (or 43), real estates has 17% for IARCfa.
(or 28), and services has 38% (or 60).
Table 3 Frequency and comparison of compliance means
N Percent of IARCinv IARCfa IARCdep IARCinv IARCfa IARCdep
compa- mean mean mean T-test T-test T-test
nies
F Sig. (p- F Sig. (p- F Sig. (p-
value) value) value)
Audited by:
Non Big 4 82 51 71.69 50.23 100.00
Big 4 78 49 71.58 52.08 99.36
Total 160 100 71.63 51.13 99.69 0.00 0.96 0.271 0.60 2.13 0.15
Business com-
plexity:
Company has 26 16 73.61 51.20 100.00
no subsidiary
Company has 134 84 71.26 51.12 99.63
subsidiary
Total 160 100 71.63 51.13 99.69 0.46 0.50 0.000 0.99 0.39 0.53
Four industry IARCinv IARCfa IARCdep
categories: ANOVA ANOVA ANOVA
1. Resources 29 18 70.09 45.04 99.14
2. Manufactur- 43 27 73.90 61.77 99.42
ers
3. Real estate 28 17 72.84 47.32 100.00
4. Services 60 38 69.96 48.23 100.00
Total 160 100 71.63 51.13 99.69 0.64 0.59 4.854 0.00* 0.88 0.46
Legend: * denotes statistically highly significant at p<0.01
Further Statistical Analysis is Pearson pair-wise coefficients and the
lower half is Spearman correlation coef-
Correlations3 ficients. Both Pearson and Spearman
correlations show a statistically signifi-
Table 4 reports Pearson and Spearman cant correlation between size of firm and
correlation coefficients. The upper half auditor type (p<0.01) and give the high-
12. A. Setyadi, et. al. / Issues in Social and Environmental Accounting 1 (2009) 26-44 37
est correlation coefficients, 0.418 and Multiple regressions
0.438 respectively. Since the variables
are to be used in regression analysis and Table 5 communicates the results of
as these correlation values are below the multiple regressions4 analysis of inven-
critical limits of 0.80 (Hair, Anderson, tory compliance, fixed assets compli-
Tatham and Black 1995; Cooper and ance, and depreciation compliance. The
Schindler 2003; Ghozali 2005), it is sug- table provides p-values and coefficients
gested that a multicollinearity problem of all independent variables in the re-
between independent variables is not a gression model. It illustrates that for in-
serious concern. ventory compliance: auditor type, busi-
Table 5
Results of multiple regressions analysis of IARCinv, IARCfa and IARCdep5
Multiple Regression
Findings
Model
IARCinv IARCfa IARCdep
n 160 Annual Re- 160 Annual Reports 160 Annual Reports
ports
F Value 1.08 1.35 0.45
Significance 0.38 0.21 0.92
Adjusted R Squared 0.01 0.02 -0.04
Variables Β P-Value Β P-Value Β P-Value
Constant or intercept 3.09 0.00 -0.22 0.83 37.57 0.00
Auditor type -1.11 0.27 -1.38 0.17 -0.72 0.47
Business complexity -1.26 0.21 -0.77 0.45 -0.40 0.69
Industry categories 0.49 0.63 0.17 0.87 1.12 0.27
Top One shareholder 0.10 0.92 1.65 0.10 -0.28 0.78
Independent commis-
-0.67 0.50 0.16 0.87 -0.23 0.82
sioners
Firm’s Size (Log)1 2.16 0.03** 2.66 0.01** -0.19 0.85
Return on Assets 1.59 0.12 1.09 0.28 -0.41 0.68
Leverage 0.60 0.55 0.81 0.42 -0.05 0.96
Independent audit com-
-0.24 0.81 0.76 0.45 -0.40 0.69
mittee
Expert commissioners 1.07 0.29 0.62 0.54 0.09 0.93
Notes: 1 Firm’s Size is transformed into log form to avoid skewness.
* Highly significant at the level of 1%; ** Significant at the level of 5%;
*** Moderately significant at the level of 10%
13. 38 A. Setyadi, et. al. / Issues in Social and Environmental Accounting 1 (2009) 26-44
ness complexity, industry categories, top Implications and Conclusion
one shareholder, independent commis-
sioners, ROA, leverage, independent This study provides an analysis of the
audit committee, and expert commission- extent to which Indonesian-listed firms
ers are not found to be significant pre- comply with Indonesian accounting
dictors of the extent of inventory compli- standards. Compliance index is a self
ance since their p-values (0.27, 0.21, constructed based on a 29 item of Indo-
0.63, 0.92, 0.51, 0.12, 0.55, 0.81, and nesian accounting standards and derived
0.29) are greater than the 0.05 (p>0.05) from Indonesian accounting standards
significance level. However, firm size is on inventory, fixed assets, and deprecia-
significant with its p-value of 0.03 tion (Setyadi et al. 2007). Using 160 non
(p<0.05). Therefore, hypothesis 3 (H3: -financial Indonesian-listed companies’
size of firm) is accepted. 2006 annual reports, this study observes
the extent of compliance with the Indo-
The table illustrates that for fixed assets nesian accounting standards.
compliance: auditor type, business com-
plexity, industry categories, top one Multiple regressions analysis finds that
shareholder, independent commission- firm’s size is significant for inventory
ers, ROA, leverage, independent audit compliance and fixed assets compliance
committee, and expert commissioners are with p-values of 0.03 and 0.01 (p<0.05).
not found to be significant predictors of the However, firm’s size is not significant,
extent of inventory compliance since their p- for depreciation compliance. The re-
values (0.17, 0.45, 0.87, 0.10, 0.87, 0.28, sults, for inventory compliance, support
0.42, 0.45, and 0.54) are greater than the hypothesis 3 (H3: size of firm). Simi-
0.05 (p>0.05) significance level. However,
larly, for fixed assets compliance, the
firm size is significant with its p-value of
0.01 (p<0.05). Therefore, hypothesis 3 (H3: results support hypothesis 3 (H3: size of
size of firm) is accepted. firm).
The table also illustrates that for deprecia- These findings highlight the importance
tion compliance, there is no significant pre- of the enforcement issue for firms listed
dictors of the extent of depreciation compli- on Jakarta Stock Exchange to comply
ance since their p-values are greater than the with the regulator’s rules. The goal is to
0.05 (p>0.05) significance level. enhance firms’ exposure to stakeholders.
The benefits derived from compliance
with the Indonesian accounting stan-
3
This study further analysed Tukey HSD (honesty sig- dards could include a reduction in costs
nificant different) post hoc test, multiple comparisons of associated with agency costs. Analysis
four industry categories for inventory compliance, fixed
assets compliance, and depreciation compliance. The
reveals a high level of 71.63% inventory
results illustrates that manufacturers have fundamentally compliance, 51.13% fixed assets compli-
higher compliance than resources, real estate, and ser- ance, and 99.69% depreciation compli-
vices firms with its p-values of 0.01, 0.03, and 0.01
respectively (p<0.05), for fixed assets compliance. In ance with accounting rules. Although
addition, three ANOVAs show that the only fixed assets
compliance is significant with its p-value of 0.00. the statistical analysis was run with and without possible
4
This study further analysed possible outliers by using Mahalanobis-linked outliers. The results were funda-
Cook’s distance, and VIF (Variance Inflation Factor) mentally similar to the original analysis, therefore the
and Tolerance the summary scores showed no problem. full data set is used in all statistical presentations.
However, further analysis using the Mahalanobis dis- 5
Backward regressions have been done and give the
tance measure highlight possible concerns. Therefore, same statistical result as the full regression model.
14. A. Setyadi, et. al. / Issues in Social and Environmental Accounting 1 (2009) 26-44 39
Indonesian firms may have complied Alchian, A. (1969), “Information costs,
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