3,599 research outputs found
UMSL Bulletin 2023-2024
The 2023-2024 Bulletin and Course Catalog for the University of Missouri St. Louis.https://irl.umsl.edu/bulletin/1088/thumbnail.jp
Essays on Corporate Disclosure of Value Creation
Information on a firm’s business model helps investors understand an entity’s resource requirements, priorities for action, and prospects (FASB, 2001, pp. 14-15; IASB, 2010, p. 12). Disclosures of strategy and business model (SBM) are therefore considered a central element of effective annual report commentary (Guillaume, 2018; IIRC, 2011). By applying natural language processing techniques, I explore what SBM disclosures look like when management are pressed to say something, analyse determinants of cross-sectional variation in SBM reporting properties, and assess whether and how managers respond to regulatory interventions seeking to promote SBM annual report commentary. This dissertation contains three main chapters. Chapter 2 presents a systematic review of the academic literature on non-financial reporting and the emerging literature on SBM reporting. Here, I also introduce my institutional setting. Chapter 3 and Chapter 4 form the empirical sections of this thesis. In Chapter 3, I construct the first large sample corpus of SBM annual report commentary and provide the first systematic analysis of the properties of such disclosures. My topic modelling analysis rejects the hypothesis that such disclosure is merely padding; instead finding themes align with popular strategy frameworks and management tailor the mix of SBM topics to reflect their unique approach to value creation. However, SBM commentary is less specific, less precise about time horizon (short- and long-term), and less balanced (more positive) in tone relative to general management commentary. My findings suggest symbolic compliance and legitimisation characterize the typical annual report discussion of SBM. Further analysis identifies proprietary cost considerations and obfuscation incentives as key determinants of symbolic reporting. In Chapter 4, I seek evidence on how managers respond to regulatory mandates by adapting the properties of disclosure and investigate whether the form of the mandate matters. Using a differences-in-differences research design, my results suggest a modest incremental response by treatment firms to the introduction of a comply or explain provision to provide disclosure on strategy and business model. In contrast, I find a substantial response to enacting the same requirements in law. My analysis provides clear and consistent evidence that treatment firms incrementally increase the volume of SBM disclosure, improve coverage across a broad range of topics as well as providing commentary with greater focus on the long term. My results point to substantial changes in SBM reporting properties following regulatory mandates, but the form of the mandate does matter. Overall, this dissertation contributes to the accounting literature by examining how firms discuss a central topic to economic decision making in annual reports and how firms respond to different forms of disclosure mandate. Furthermore, the results of my analysis are likely to be of value for regulators and policymakers currently reviewing or considering mandating disclosure requirements. By examining how companies adapt their reporting to different types of regulations, this study provides an empirical basis for recalibrating SBM disclosure mandates, thereby enhancing the information set of capital market participants and promoting stakeholder engagement in a landscape increasingly shaped by non-financial information
LIPIcs, Volume 251, ITCS 2023, Complete Volume
LIPIcs, Volume 251, ITCS 2023, Complete Volum
UMSL Bulletin 2022-2023
The 2022-2023 Bulletin and Course Catalog for the University of Missouri St. Louis.https://irl.umsl.edu/bulletin/1087/thumbnail.jp
An empirical investigation of the relationship between integration, dynamic capabilities and performance in supply chains
This research aimed to develop an empirical understanding of the relationships between integration,
dynamic capabilities and performance in the supply chain domain, based on which, two conceptual
frameworks were constructed to advance the field. The core motivation for the research was that, at
the stage of writing the thesis, the combined relationship between the three concepts had not yet
been examined, although their interrelationships have been studied individually.
To achieve this aim, deductive and inductive reasoning logics were utilised to guide the qualitative
study, which was undertaken via multiple case studies to investigate lines of enquiry that would
address the research questions formulated. This is consistent with the author’s philosophical
adoption of the ontology of relativism and the epistemology of constructionism, which was considered
appropriate to address the research questions. Empirical data and evidence were collected, and
various triangulation techniques were employed to ensure their credibility. Some key features of
grounded theory coding techniques were drawn upon for data coding and analysis, generating two
levels of findings. These revealed that whilst integration and dynamic capabilities were crucial in
improving performance, the performance also informed the former. This reflects a cyclical and
iterative approach rather than one purely based on linearity. Adopting a holistic approach towards
the relationship was key in producing complementary strategies that can deliver sustainable supply
chain performance.
The research makes theoretical, methodological and practical contributions to the field of supply
chain management. The theoretical contribution includes the development of two emerging
conceptual frameworks at the micro and macro levels. The former provides greater specificity, as it
allows meta-analytic evaluation of the three concepts and their dimensions, providing a detailed
insight into their correlations. The latter gives a holistic view of their relationships and how they are
connected, reflecting a middle-range theory that bridges theory and practice. The methodological
contribution lies in presenting models that address gaps associated with the inconsistent use of
terminologies in philosophical assumptions, and lack of rigor in deploying case study research
methods. In terms of its practical contribution, this research offers insights that practitioners could
adopt to enhance their performance. They can do so without necessarily having to forgo certain
desired outcomes using targeted integrative strategies and drawing on their dynamic capabilities
Introducing user preferences for peer-to-peer electricity trading through stochastic multi-objective optimization
Peer-to-peer electricity markets are dedicated markets that enable the direct participation of small electricity end-users in energy trading activities. They are seen as a promising alternative that can empower end-users and accelerate the energy transition, by researchers, business developers, and legislators. Moreover, they can include environmental, social, or altruistic preferences that are relevant to end-users, in addition to the economic perspective. Such preferences are sometimes included in the modeling of P2P markets in the existing literature, but the assumptions behind them are rarely validated in practice. To investigate the desired attributes and preferences of end-users to participate in P2P markets, an online survey including a discrete choice experiment was conducted in The Netherlands The results of the survey are used to design a P2P electricity market with product differentiation. The participants in the market are residential end-users that are equipped with a home energy management system that can control some of the household appliances and automate the decision-making process for participation in the market. To facilitate this, a multi-objective stochastic optimization model is presented that incorporates results from the discrete choice experiment and real smart-meter measurements. The case study results demonstrate user preferences’ influence on market outcomes.</p
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