Is the relation between non-controlling interests and parent companies misleading?

This article investigates whether different levels of investor protection affect the equity market’s valuation of non-controlling interests (NCIs) in a consolidated corporate entity. Using a set of publicly listed European firms, our findings suggest a positive (negative) association of NCIs with parent companies’ share prices in countries with low (high) levels of investor protection. We interpret the findings as evidence that when non-controlling investors are not well-protected, parent companies have an opportunity to extract rents from non-controlling owners, leading to a positive valuation of NCIs’ equity. However, in countries where non-controlling investors are well-protected, parent companies are not able to extract rents but still must monitor and govern the related subsidiary; thus, NCIs become a net cost, and the relation inverts.info:eu-repo/semantics/acceptedVersio

Understanding students' future intention to engage in sustainability accounting: the case of Malaysia and the Philippines

Purpose: The study investigates whether the level of sustainability concerns of Higher Education Institutions (HEIs) in Malaysia and the Philippines is positively associated with accounting students' intentions to engage in sustainability accounting through its effect on students' attitude, subjective norm and perceived behavioural control regarding environmental sustainability practices. Design/methodology/approach: This empirical study relies on a structural equation model computed using data collected through a questionnaire and data collected from the HEIs websites. Findings: The findings show that the willingness to engage in sustainability accounting is determined by students' subjective norm and perceived behavioural control, but it is not determined by attitude regarding environmental sustainability practices. The authors also found that the greater the concern with sustainability of the HEI in which a student is enrolled, the greater his/her attitude, subjective norm and perceived behavioural control towards environmental sustainability, and, indirectly, the greater his/her intention to engage in sustainability accounting. Originality/value: These findings add to the literature on higher education and sustainability accounting by high-lighting the importance of the HEIs sector in promoting sustainability policies and practices, in acting as role models regarding sustainability issues, and in preparing students for building a sustainable society.info:eu-repo/semantics/acceptedVersio

Dialogism in detail: Per Linell’s Rethinking language, mind, and world dialogically and its potentials.

Per Linell’s (2009) book Rethinking language, mind, and world dialogically offers an inte- grated view upon the many strands of Dialogism, establishing itself as an essential ref- erence to the field. In this review of his book we aim to discuss a few selected topics, building upon these with our own views. Initially, we focus on the relevance and urgency of such book by summing up the most important dialogical concepts presented by it. Following our initial argument, we move on to the discussion of contrasts between monological and dialogical perspectives, the concepts of extended mind and the inter- world, suggesting Dialogism as an ontology, and finally, reflecting upon the relation between intersubjectivity and alterity. We conclude our review by stressing how Linell’s book contributes to the unification of an entanglement of different dialogical theories and perspectives, crafting a solid meta-theory. This integration paves the way for a deeper understanding of what constitutes the nature of knowledge and human phenomena, as conceptualized by Dialogism

The impact of media pressure on corporate sustainability in the cement industry: a Portuguese case study

In this study we examine the sustainability reporting practices and sustainability strategies of a leading Portuguese cement company. The Portuguese cement industry had to deal since 1997 with scrutiny and pressure because of its involvement in co-incineration of hazardous industrial waste. Grounded on a lens of analysis combining legitimacy theory and media agenda-setting theory and based on a content analysis of sustainability reports and semi-structured interviews, we analyse the strategies used by the company to deal with said scrutiny and pressure and present its sustainability performance. Media pressure does seem to have impacted sustainability reporting and sustainability strategies as tools for the company to restore its legitimacy. Findings generally suggest that strategies of communication designed to legitimate the company actions were used. In particular, we suggest that the company managed its legitimacy by using simultaneously two sustainability reporting strategies: one of image enhancement and other of avoidance of threatening topics.info:eu-repo/semantics/publishedVersio

The relationship between LGBT executives and firms’ value and financial performance

Drawing on resource-based theory, we analyze the relationship between having LGBT executives in a firm’s leadership positions and its value and financial performance. The existence of LGBT executives is considered to be associated with employee and customer goodwill towards LGBT-friendly policies and practices and to lead to human capital and reputational benefits. Our findings suggest that there is a positive effect of the presence of LBGT executives on a firm’s value, both directly and indirectly, through its effect on the firm’s financial performance. We interpret this as suggesting that besides the direct effect of the existence of LGBT executives on a firm’s value, an indirect effect also exists, mediated through financial performance, presumably through the effect that this has on employee and customer goodwill towards LGBT-friendly policies and practices. As far as we are aware, our study is the first to examine the impacts of the presence of LGBT executives, as well as distinguish between its direct and indirect effects on firm value.info:eu-repo/semantics/publishedVersio

Alström Syndrome: Four Case Reports

A Síndrome de Alström (SA, MIM# 203800) é uma doença hereditária, de transmissão autossómica recessiva, descrita pela primeira vez em 1959, por Alström. O gene ALMS1, causador da doença, foi identificado em 2002 e localiza-se no cromossoma 2p13. É uma doença genética rara, com o envolvimento de múltiplos órgãos e de evolução progressiva. As principais características fenotípicas incluem: retinopatia pigmentar, surdez neurosensorial, miocardiopatia dilatada, obesidade, hiperinsulinismo e resistência à insulina. Recentemente, foram publicados critérios de diagnóstico, classificados em major e minor, contribuindo para um diagnóstico precoce da doença. Descrevem-se quatro casos, realçando-se as diferentes formas de apresentação clínica, a importância de um seguimento multidisciplinar e a possibilidade de se tratar provavelmente de uma doença sub-diagnosticada

International financial reporting standards and earnings management in Latin America

This study analyzes the level of earnings management in Latin America after the adoption of the International Financial Reporting Standards (IFRS) and analyzes the role of cross-listing in the United States. The literature on earnings management in less developed countries is still under construction, and few studies focus on this issue, especially with respect to Latin America, despite its relevant role in the global economy. This paper fills this gap in the literature as it analyzes the level of IFRS earnings management regarding the first and main Latin American countries applying IFRS (Brazil and Chile), when compared to the main Anglo-Saxon countries with IFRS tradition (United Kingdom and Australia), and with the main Continental European economies (France and Germany). The results show that Latin American firms present a higher level of earnings management than Continental European and Anglo-Saxon firms, and this opportunistic behavior remains significant when only global players with cross-listing in the United States are analyzed. Thus, even with a unique set of high quality accounting standards (IFRS) and strong reporting incentives, countries' specific characteristics still play an important role in the way IFRS is implemented in each country.info:eu-repo/semantics/publishedVersio