Understanding And Explaining The Underpinnings of Creative Accounting in Nigeria: The Cadbury Evidence

The rapid decline in public and investors’ confidence in the management of public quoted companies as a result of reported widespread incidence of ‘widow dressing’, ‘aggressive accounting’or ‘creative accounting’has triggered the need to explore the rationale for such practice. Using Cadbury Nig Plc as a case in point, it is posited in this paper that favorable stock prices tend to give the impression of stability and sustained improvement which in turn, propel to embark on creative accounting in the bid to attract and retain the confidence of shareholders. Arguably, these reasons are offset or nullified by the dangers creative accounting can pose to companies and indeed, the economy. The findings and recommendations of this paper have implications for investors, directors, and policy-makers in Nigeri

Voluntary disclosures as a form of impression management to reduce evaluative uncertainty during M&A

This study develops and tests a set of hypotheses on how to manage investors’ evaluative uncertainty during M&A through a specific form of impression management, namely, interim news events. We suggest that voluntary disclosures are key in influencing investors’ reactions during M&A. Empirical support for our theoretical arguments is shown in a sample of 36,376 deals and 163,023 associated interim news events carried out by NYSE and NSDQ listed organizations over 10 years. Our research contributes to literature on voluntary disclosures, impression management, and managing M&A

Търговската марка като икономическа стойност и знак. Позиционирането като инструмент за създаване на отличимост

ABSTRACT: This article is dedicated on brand issues, especially on its role of economic value sign as well as social sign (symbol), and also comments the four main theories in marketing and advertising concerning communication positioning. РЕЗЮМЕ: Статията е посветена на проблемите на търговската марка и по-специално на нейната роля като икономически знак за стойност, както и като социален знак (символ); също така текстът обръща внимание на четирите основни теории, възприети в маркетинга и рекламата, които засягат комуникационното позициониране на брандовете

Marketing images and consumers' experiences in selling environments

In a well-functioning market, consumers exert choices not just in purchases of products but also in selections of locations to enjoy shopping. Scholarly research has demonstrated that retail atmospheres impact on shoppers’ pleasurable shopping experiences. Demonstrating the marketing concept in action, shoppers consistently respond to this empowerment by for example, spending more time shopping and spending more money in retail facilities that are perceived to offer a pleasanter atmosphere and experience. This research pivots round an in-depth qualitative study that evaluated the impact of a plasma screens and specific informational content on shopping centre user behaviour. A phenomenological study of the effects of the medium, and the way in which these systems influence behaviour, permitted a far deeper investigation of our sample group vis-àvis increased browsing time and the propensity to spend. A series of eight focus discussions were conducted with local user groups of varying age and gender. Key themes drawn from the group discussions using axial coding indicated that the influence created by the images varied with subjects and settings. The general consensus was that such ‘screens’ created a certain ambience that influenced the way our subjects felt about the selling environment under study. Moreover, for our sample groups, there was clearly a link between the screened images and modern expectations of a selling environment. The plasma screens provided added enjoyment to shoppers’ experiences, providing them with more information enabling more informed shopping choices. The research concludes with implications for strategic marketing, theory and practice

Corporate governance and impression management in annual press releases

We study the association between corporate governance and impression management in annual results press releases (ARPRs). Press releases constitute a timely vehicle to communicate firm performance to third parties. However, oftentimes, managers provide self-serving disclosures that attempt to distort readers¿ perceptions of corporate achievements. Corporate governance mechanisms actively monitor managerial disclosures, improving firm transparency. Thus, we predict that strong governance (i) increases firm voluntary release of ARPRs, and (ii) reduces impression management in those ARPRs. Tests are based on a sample of Spanish firms. The results confirm that strong governance firms are more likely to release an ARPR. In particular, board independence and the existence of remuneration and audit committees significantly determine this type of voluntary disclosure. We also show that strong governance limits impression management practices, consistent with governance monitoring effectively reducing self-serving disclosures by management. Our evidence is consistent with impression management being associated to firm news, suggesting that these practices respond, at least partly, to informative motivations. En este trabajo investigamos la asociación entre el gobierno corporativo y la manipulación de la presentación de la información en las notas de prensa. Las notas de prensa son uno de los medios que usan las empresas para comunicarse con terceras partes. A veces, las empresas revelan información con la intención de mostrar una imagen sesgada de la empresa. El gobierno corporativo es uno de los mecanismos que controlan la manipulación en la revelación de información y mejora la transparencia. Nuestras expectativas son que empresas con mejor gobierno corporativo (i) incrementen la revelación voluntaria y (2) muestren menos manipulación de la presentación de información en sus notas de prensa. Hemos analizado empresas Españolas cotizando en la Bolsa de Madrid. En particular, hemos encontrado que la independencia de los directivos y la existencia de comités de remuneración y de auditoria determinan el tipo de revelación de información voluntaria. Estos resultados confirman el papel de control que ejerce el gobierno corporativo para reducir efectivamente la presentación engañosa de la información. Nuestros resultados también muestran que la manipulación esta relacionada con las noticias de las empresas, lo que sugiere que estas practicas responden, al menos en parte, a razones informativas.Gobierno corporativo, manipulación de la presentación, revelación voluntaria Corporate governance, impression management, voluntary disclosure

Factors influencing the identification of it indirect costs: A case study

Organizations expenditure on Information technology (IT) related investments continue to rise in the face of the fierce competition in the various marketplaces. Nevertheless, the problem of evaluating such investments remains a challenge to managers due to the inability of the evaluation techniques to accommodate the indirect costs associated with IT investments. This negatively affects the accuracy of the justification process and the investment decision. According to literature, indirect cost factors are not easily identified or quantified because they human and organizational dimensions. Indirect costs, proven to be problematic to accommodate within traditional appraisal techniques, make IT managers choose to ignore them and neglect to include them in IT investment budgets. The research suggests an alternative solution to the problem of quantifying such indirect costs by calling for a more accurate identification of those costs which would enable a more robust management and finally control of such costs. Using a case study the paper highlights the investment decision making process in an international resource company and confirms the call for a more robust identification process. In addition the paper maps each indirect costs factor to the lifecycle stage(s) in which it occurs and presents the factors that influence the quality of the identification process

Going to the exclusive show : exhibition strategies and moviegoing memories of Disneys animated feature films in Ghent (1937-1982)

This is a case study of the exploitation and experience of Disney's animated feature films from the 1930s to the 1980s in Ghent (Belgium). It is a historical study of programming practices and financial strategies which constructed childhood memories on watching Disney. The study is a contribution to a historical understanding of the implications of global distribution of film as cultural products and the counter pull of localism. Using a multi-method approach, the argument is made that the scarce screenings were strategically programmed to uplift the moviegoing experience into something out of the ordinary in everyday life. Programming and revenue data characterize the screenings as exclusive and generating high intakes. Consequently, the remembered screenings did not exhale an easy accessible social status nor an image of pervasiveness of popular childhood film, contradictory to conventional accounts of Disney's ubiquity in popular culture

Where do we stand in the theory of finance? : a selective overview with reference to Erich Gutenberg

For the past 20 years, financial markets research has concerned itself with issues related to the evaluation and management of financial securities in efficient capital markets and with issues of management control in incomplete markets. The following selective overview focuses on key aspects of the theory and empirical experience of management control under conditions of asymmetric information. The objective is examine the validity of the recently advanced hypothesis on the myths of corporate control. The present overview is based on Gutenberg's position that there exists a discrete corporate interest, as distinct from and separate from the interests of the shareholders or other stakeholders. In the third volume of Grundlagen der BWL: Die Finanzen, published in 1969, this position of Gutenberg's is coupled with an appeal for a so-called financial equilibrium to be maintained. Not until recently have models grounded in capital market theory been developed which also allow for a firm's management to exercise autonomy vis-à-vis its stakeholder. This paper was prepared for the Erich Gutenberg centenary conference on December 12 and 13, 1997 in Cologne