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Purpose This study aims to synthesize the current literature and present a definition of future smart banking services known as “metaverse banking” as well as to discuss its future potential. Design/methodology/approach This paper proposes a suitable definition for metaverse banking that includes the important elements of metaverse banking and sheds light on its impending potential from distinct aspects. Findings Metaverse banking is a banking channel actualized through the integration of metaverse and online banking services, enabled by a mix of numerous advanced technologies, that provides customers with synchronous banking services accompanied with 3D experiences in a virtual world. There is a high likelihood in the future that metaverse banking is able to be marketed intensively yet effectively, and incur progressive demands, as well as progress significantly in terms of development. Practical implications This study assists bank managers in understanding metaverse banking better and simultaneously makes them realize the metaverse banking’ growth opportunity which can be pursued. Originality/value To the best of the authors’ knowledge, this is the first paper to establish a definition for metaverse banking and expound on the upcoming potential of metaverse banking. There is a lack of related literature because this concept is relatively new. This study assists in enriching the concept and providing future research directions.

PurposeThis study explores the everyday experiences of researchers in assessing their own and others' research, highlighting what “good” qualitative accounting research is from their perspectives.Design/methodology/approachThe analysis is based on interviews with accounting scholars from the UK, Germany, Italy, Spain and Australia, with diverse ethnic background and methodological preferences.FindingsInterviewees pointed to a plurality of practical, and to some extent tacit, ways in which they demonstrate and assess the quality of research, concerning “contribution”, “consistency” and “confidence”, with generalizability being seen as more controversial and difficult to attain. In general, interviewees highlighted the underlying ambiguity on what constitutes good research in the qualitative accounting community, contrasting it to the perceived stronger clarity to be found in the quantitative accounting community. This was seen as potentially strengthening the positions of “gatekeepers” in the accounting communities, and encouraging conformance and “signaling” behaviors, at the risk of hampering innovation.Originality/valueThe main critical issues affecting qualitative research quality highlighted by interviewees concern the engagement with the world of practice, and with theory and literature, the importance of accounting for the analysis of qualitative data and for the messiness of the underlying process, and the implicit search for compliance with editors' and community's expectations and conventions. These findings suggest the need to continue debating how to assess the quality of qualitative research in everyday activities, and reflect on how to promote acceptance and openness to pluralism, in scientific communities, as well as in data collection, analysis, in the theorizing, and in connecting epistemology and methodology.

PurposeExpanding on an invited talk at the 1st Paper Development Workshop of the Qualitative Management Accounting Research Group, the purpose of this study is to offer some suggestions for developing qualitative accounting papers. Emphasis is put on the potential of qualitative research to situate evocative accounts of the organisational functionings of accounting in their wider social contexts.Design/methodology/approachTo think about paper development as an exercise in communicating worthwhile findings to the readership by interweaving the researcher’s impressions of the field, recorded field material and different social theories to create qualitative accounting scholarship.FindingsQualitative accounting papers can, through the use of different theories, show the embedding of the organisational in the social. Development of qualitative accounting papers is an achievement that emerges in the process of writing.Practical implicationsOutlines five summary recommendations for paper development.Originality/valueReflects on paper development designed to create qualitative accounting research.

PurposeA review of papers on public sector accounting in emerging economies, as published in the Journal of Accounting in Emerging Economies' (JAEE) first decade.Design/methodology/approachA reflection on the issues covered and achievements made in the reviewed papers in the context of extant knowledge in this domain.FindingsA majority of the research in JAEE is dominated by accounting reforms inspired by New Public Management (NPM). Performance management, budgeting and accrual accounting are the main topics in the reviewed research. NPM claims, which can range from usability and use of a new accounting repertoire to desirable impacts on efficiency and service delivery, are often not fulfilled. Many papers attempt to explain failing accounting innovations by the local context in which they are embedded, including political instability, poor governance and a lack of capabilities.Research limitations/implicationsThe paper reviews research in a niche journal, but the findings are related to wider public sector accounting literature.Practical implicationsPublic sector practitioners, but also researchers, need to move away from a focus on public sector reforms due to contextual circumstances leading to built-in failures and concentrate instead on understanding how the accounting repertoire works in practice, including routes for improvements therein.Originality/valueAn original framework for analysing public sector accounting research in emerging economies is proposed, which, among others, distinguishes between various ambition levels for achieving NPM reforms.

PurposeThe purpose of this paper is to analyze papers that have been published in the Journal of European Real Estate Research since its inception in 2008.Design/methodology/approachThe author analyzes papers published from 2008 to 2019 in theJournal of European Real Estate Researchby authors’ country of affiliation, by country of study and by theme.FindingsTheJournal of European Real Estate Researchpublishes papers from scholars from an increasing number of countries, in particular in Central and Eastern Europe. Papers that provide a comparative analysis of countries constitute the largest category of contributions. The three most popular themes remain housing, valuation and investment/portfolio management. However, the dynamics of the three categories differ notably.Originality/valueThis paper provides for a clearer understanding of key dimensions of real estate research in Europe.

PurposeThis paper aims to show that when conducting a literature review, important papers can be identified by regressing citation counts on prior publications’ metadata.Design/methodology/approachThe method developed in this paper applies citation count regression analysis to identify important papers that may be overlooked when conducting literature reviews on subject areas with a large population of studies.FindingsThe developed method reduces a literature down to a small sample of important papers for further narrative analysis.Research limitations/implicationsAlthough the most widely used citation count database was used for research, there is a risk that a paper is not indexed; thus, it would be out of the scope of the literature.Practical implicationsThe developed method allows both preliminary selection of important papers for literature review, and robustness and completeness checks for already conducted narrative reviews.Originality/valueThis paper develops an automated search method for identification of important papers based on citation counts. This method allows for the reduction of big samples of research papers into smaller heterogenic subsamples. Like meta-analysis, this method is a quantitative technique that can enhance traditional narrative literature reviews.

Purpose– This paper aims to examine how issue spreads are determined in the New Zealand commercial paper market both before and after the onset of the global financial crisis.Design/methodology/approach– This paper uses regression analysis on data from 1,340 commercial paper tenders conducted by 26 issuers between mid-2003 and mid-2011 to explore how credit risk and liquidity factors impact on issue spreads.Findings– Prior to March 2008, issue spreads are higher when issuers have a weaker credit rating, risk aversion is high and investor appetite for the issue is low. There is no term premium in issue spreads. After March 2008, credit ratings have no influence on issue spreads, while the influence of risk aversion is weaker. Issue spreads are more sensitive to the investor appetite and the term of the issue. Investors assign higher spreads to issues made by securitisation conduits despite these entities retaining the highest possible short-term credit rating, reflecting the erosion of confidence in credit ratings on asset-backed securities.Originality/value– This is the first published study of the New Zealand commercial paper market. The results show that since the onset of the global financial crisis, investor perceptions of credit risk have played a more important role in the determination of issue spreads than short-term credit ratings. This is consistent with a loss of confidence in credit ratings on asset-backed securities.

Purpose This paper aims to explain the contextual basis for examining the accountant stereotype, describe the multiple influences on its development and propose directions for further research. Design/methodology/approach This paper takes the form of a review. It discusses a research paper published in the current issue of Meditari Accountancy Research which undertakes a content analysis using the General Inquirer to identify the image of accountants as represented in novels. Findings Several issues need to be considered when examining these results. The first of these is that the portrayal of accountants in the media has become more positive in recent times. Second, the media is just one influence on the development of stereotypes; third, the media may have limited influence on stereotype formation. Research limitations/implications The findings have implications for further research on the development and maintenance of the accountant stereotype. Originality/value This review contributes to the debate on possible interventions to create a more positive image of accountants.

Purpose The purpose of this study is to analyse and explore the characteristics of patent–paper pairs (PPPs) in the field of fuel cells. Design/methodology/approach The authors used bibliometric analysis to analyse the bibliometric records of PPPs identified from 20,758 papers and 8,112 utility patents between 1991 and 2010. Findings The findings show that the percentages of papers and patents constituting PPPs were low, but an increasing trend was identified in the absolute number of PPPs. Researchers affiliated with research institutions were the primary contributors to PPPs. Countries with the most papers and patents had the most PPPs, exploiting the advantage of dual knowledge creation. Similar growth trends were observed in the numbers of patents approved and papers published. Patents in PPPs were typically produced earlier than the papers in PPPs. On average, patents were applied for approximately four years before papers were published, and patents were approved only approximately four months before papers were published. Research limitations/implications While the study was limited to the PPPs in the field of fuel cells, PPPs analysis can be applied to numerous fields. Originality/value PPPs indicate the coactivity of researchers involved in publishing and patenting. Although this coactivity has been studied, few studies have investigated PPPs. This study helps us better understand the characteristics of papers and patents constituting PPPs, changes in the annual numbers of papers and patents constituting PPPs, delays between papers and patents, as well as individuals, institutions and countries producing numerous PPPs.

Subject area International business, Accounting and Finance. Study level/applicability Undergraduate and Postgraduate levels (advanced financial accounting, international accounting, other accounting and business courses with an international setting. Case overview The case uses the Asia Pulp & Paper Company’s (APP) entry into the international debt market to highlight the consequences of different business practices between the East (in this case, Indonesia) and the West. On the one hand, it shows that APP was set up as the “front” to access international debt capital; on the other, it reveals the naïvety of Western lenders who parted with their funds without conducting a thorough background research on the financial viability of the company they invested in. The APP debacle is a poignant reminder for market participants and business/accounting students that the divergence of the business settings across countries can make business contractual arrangements tenuous and corporate financial information irrelevant to its users. It also exposes the unique ways of how some Asian countries conduct their business affairs. Expected learning outcomes The following are the expected learning outcomes: comprehend the impact of differences in culture and ethnic origin on business practices; evaluate the impact of cultural nuances on the legality of contracts in the international business setting; understand the impact of currency fluctuation on the financial position of multinational firms; and be more cautious in conducting business and entering into contracts with foreign firms. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes. Subject code CCS 1: Accounting and Finance.

Purpose – The purpose of this paper is to examine the content and determinants of voluntary corporate social responsibility (CSR) disclosures within chief executive officer (CEO) letters and social media tools. Design/methodology/approach – Published CEO letters and the presence of global pulp and paper manufacturing companies in the social media in 2012 are analysed in this study using content analysis. Furthermore, multiple regression analysis is used to investigate the impact played by headquarter location, firm size and lagged profitability as a measure of slack resources on the quality of CSR disclosure. Findings – Company size and slack resources were found to increase the quality of traditional sustainability communication, whereas company size was the only significant factor explaining communication quality in social media usage. Environmental issues were the most common disclosure topic, accompanied by community issues. A curvilinear association was interestingly found between slack resources and communication quality. Research limitations/implications – The sample frame was selected from the 100 largest pulp and paper companies globally, and for better generalization, future research should aim at also analyzing data from small and medium enterprises and from other industries. Practical implications – Findings of the paper are useful for firm self-evaluation and benchmarking of disclosure activities by other businesses across the pulp and paper industry. Social implications – Slack company resources improve communication quality and the effective utilization of multiple channels. Originality/value – This paper incorporates the framework of the new ISO 26000 standard in CSR implementation and illustrates the growing importance of social media in communicating CSR.

This paper is a text of the report which the author presented on 6 November 1996, as Reporter for the Financial Services Industry, on the occasion of the hearing organised by the European Commission in respect of the Green Paper.

Purpose – The purpose of this paper is to offer strategies that can enhance the likelihood of successfully developing an idea through to publication in a high-quality journal. The paper also seeks to demystify what lies behind the editorial and review processes that form part of that journey. Design/methodology/approach – This paper is based on the author’s 20+ years’ experience as a journal editor, editorial board member, ad hoc reviewer and author. Findings – Successfully publishing in high-quality journals is a combination of a well-developed idea, meticulous planning and execution of the research, a thorough review of the target journal’s scope and expectations, attention to detail in drafting the paper and reasoned and reflective responses to guidance and recommendations from editors and referees, supplemented by some good fortune and natural talent. Practical implications – This paper is intended primarily to be a resource that demystifies what lies behind the process for researchers seeking to develop their profile as an author of high-quality papers in high-quality peer-reviewed journals with a focus on the discipline of taxation. In this regard its primary intended audience is thesis students and those relatively new to academia. Originality/value – Existing contributions to the literature concerning the publication process are numerous, but few studies offer a succinct summary for new and emerging researchers in mind, especially those undertaking taxation research.

PurposeThe aim of this paper is to discuss the implications of the UK Financial Services Authority (FSA) January 25, 2011 discussion paper, DP11/1 Product Intervention.Design/methodology/approachThe paper discusses the FSA's previous regulatory approach; the limited usefulness of disclosure in consumer protection; the impact of trends toward a direct adviser fee structure and the phasing out of commission‐based remuneration; the FSA's perceived need to become more directly involved in the product development process; various ways in which the FSA might intervene including product pre‐approval, product banning, and price intervention; and possible limitations on the FSA's power to intervene.FindingsThe key issues raised by the FSA discussion paper are a new interventionist stance taken by the FSA and prospectively by its successor the Financial Conduct Authority (FCA); the increased focus on the product itself (in addition to disclosure and point of sale); and the possible extension in the scope of the FSA's existing powers.Originality/valueThe paper provides practical insight from experienced financial services lawyers.

This paper has the objective of reflecting on the role of non‐executive directors (NEDs) in the corporate governance process. The paper reviews the role of NEDs both from an academic perspective and from the perspective of the lead author’s practical experience of being (having been) a chairman, a chief executive and a NED on the boards of private and public companies. In addition to taking an overview of the main issues involved the paper comments on the specific issues raised in the Department of Trade and Industry (DTI) review of the role and effectiveness on NEDs by Derek Higgs. Finally, the paper offers conclusions and recommendations for improving the effectiveness of NEDs.

The Financial Services Authority’s (FSA) Consultation Paper 121 suggesting depolarisation in the retail financial services sector has generated a great deal of debate. The motivation for the reforms, primarily to improve the position of the consumer, cannot be disputed. Nevertheless, in attempting such a wide‐sweeping change, it is clear that the reforms could bring difficulties as well as improvements. This paper argues that, to the extent that the current polarisation regime is detrimental for the consumer, this can be addressed without dismantling the basic framework of the current advice system. It acknowledges that there is a need for greater consumer education in this area, and that more needs to be done to address the needs of lower‐income consumers. Nevertheless, it is argued that the advantages anticipated as a result of the more radical reforms in the Consultation Paper are likely to be accompanied by problems that could negate the overall benefit accruing to consumers.

Following the fundamental review by the Committee of Inquiry into Higher Education, under the Chairmanship of Sir Ron, (now Lord) Dearing, in July, 1997 (and Scottish equivalent under Sir Ron Garrick); the Quality Assurance Agency for higher education (QAA), is currently consulting on the detailed elaboration of those Committees’ main recommendations. The QAA proposals are designed to provide public assurance on both the quality and standards in higher education and comprise an inter‐related set of components under the following headings: the development of a complete and overarching framework of qualifications for the UK; the development of a national template for individual programme specifications; the development of benchmarking information and threshold standards across 41 subject areas; the development of institutional codes of practice and institutional reviews; and the strengthening of the existing external examiner system to encompass a formal role of feedback on quality and standards to the QAA. The paper was submitted by the Association of Business schools to the QAA, in the format specified by the QAA. It can therefore best be understood in conjunction with the QAA’s consultation paper “An agenda for quality”, which provides greater detail of the main components, set out above.

Explores how the national aspiration of “universal access” to information compares with what is actually happening in practice. Outlines some of the issues which emerge in the debate over access versus holdings, and presents some data from Cranfield University to shed some light on it.

Following the publication of the Mallinson Report in March 1994, the Royal Institution of Chartered Surveyors undertook a survey of Valuation Practice in the UK in accordance with Recommendation 25 of the report. In January 1995 questionnaires were sent out to a cross‐section of practitioners in the market. The responses represented a wide range of experience, geographical location and type of work. The majority of respondents spent more than 50 per cent of their time undertaking valuations. The questionnaire distinguished between valuations undertaken for pricing (asset valuations, sale/purchase advice, CPO, etc.) and calculations of worth, where the role of the valuer was to analyse the investment for a specific purpose for a specific client. Respondents were asked to indicate whether they tended to adopt a “traditional” model or a “DCF” model for the valuation of a number of different types of investment. These were rack‐rented freeholds, reversionary freeholds, over‐rented property, short leaseholds and long leaseholds. In the replies there was a consensus opinion that, when undertaking calculations of worth, the DCF method should be used as the principal method but tempered with the use of traditional techniques alongside. Conversely, when pricing property the traditional method was considered to be the appropriate tool, although many respondents said that they would also use DCF techniques on the more “unusual” interests such as over‐rented. With regard to the actual method adopted, most valuers using traditional methods favoured the use of an all‐risk/equivalent yield approach using layered income flows. Those using DCF preferred the short‐cut approach with a reversion to a sale price after the first change of income. Clearly suggests that there is a greater understanding of explicit techniques than anecdotal evidence had previously suggested.

PurposeA satirical reflection on the perils of conference paper presentations.Design/methodology/approachPoetic exposition.FindingsHighlights the traps into which conference paper presenters can sometimes unwittingly fall.Research limitations/implicationsFor effective presenting within strict time limits, a speaker can never be too prepared.Originality/valuePresents a visual picture of the dilemma and final crash that occurs when presenters fail to impose self‐discipline in structuring and delivering to the audience they desperately want to reach.

Purpose – A satire on conference paper presentations.Design/methodology/approach – A poetic critique of conference presenters and their occasional failure to engage with their audience.Findings – What may be fascinating and of assumed and obvious importance to a research presenter may be quite obscure to their audience, who nonetheless participate in the ritual of conference attendance and polite “listening”.Research limitations/implications – The reader may discover even more meaning in this poem than its original author envisaged.Originality/value – A poignant reminder of the perils of many conference presentations.

PurposeEnglish social housing providers are increasingly turning to social impact measurement to assess their social value. This paper aims to understand the contextual factors causing this rise in the practice, specifically within this sector; the mechanisms that enable it to be effectively implemented within an individual organisation and the outcomes of successful implementation for individual organisations and more widely across the sector and beyond.Design/methodology/approachA realist theory-based approach is applied to the study of a small number of social housing organisations and leaders within the sector to explore the use of social impact measurement. The paper addresses three questions: Why is social impact measurement being adopted in this sector? How is it successfully implemented? And what happens (outcomes) when it is successfully implemented? Addressing these questions necessitates deeper insight into the contextual pressures that have brought to the fore social impact measurement within the sector and the beneficial outcomes the practice provides (or is anticipated to provide) to social housing providers. The methodological approach of Realist Evaluation (Pawson and Tilley, 1997, 2004) is used to structure and analyse the empirical data and findings into a programme theory for social impact measurement. Realist Evaluation provides a programme theory perspective, seeking to answer the question “what works, for whom and in what circumstances?”. In this research, the “whom” refers to English social housing providers and the circumstances are the contextual conditions experienced by the sector over the past decade. The programme theory aims to set out the links between the contextual drivers for social impact measurement, the mechanisms that bring about its implementation and the outcomes that occur as a result. Within this, greater detail on the implementation perspective is provided by developing an implementation theory using a Theory of Change approach (Connellet al., 1995; Fulbright-Andersonet al., 1998). The implementation theory is then embedded within the wider programme theory so as to bring the two elements together, thereby creating a refinement of the overall theory for social impact measurement. In turn, this paper demonstrates its importance (the outcomes that it can achieve for organisations and the sector) and how it can effectively be implemented to bring about those outcomes.FindingsSocial housing providers use social impact measurement both internally, to determine their organisational priorities and externally, to demonstrate their value to local and national governments and cross-sector partners then to shape and influence resource allocation. The practice itself is shown to be an open and active programme, rather than a fixed calculative practice.Research limitations/implicationsThe intensive nature of the research means that only a limited number of cases were explored. Further research could test theories developed here against evidence collected from a wider range of cases, e.g. other types of providers or non-adopters.Practical implicationsThe research makes a strong contribution to practice in the form of a re-conceptualisation of how social impact measurement can be shown to be effective, based on a deeper understanding of causal mechanisms, how they interact and the outcomes that result. This is of value to the sector as such information could help other organisations both to understand the value of social impact measurement and to provide practical guidance on how to implement it effectively.Social implicationsAs the practice of impact measurement continues to develop, practitioners will need to be aware of any changes to these contextual factors and consider questions such as: is the context still supportive of impact measurement? Does the practice need to be adjusted to meet the needs of the current context? For instance, the recent tragedy at Grenfell Tower has led to a reconsideration of the role of social housing; a new Green Paper is currently being drafted (Ministry for Housing, Communities and Local Government, 2018). This may have a number of implications for social impact measurement, such as a rebalancing of emphasis on outcomes relating to environmental improvements, towards outcomes relating to the well-being of tenants.Originality/valueExisting literature is largely limited to technical guides. This paper links theory-based evaluation to practice contributing to social housing practice.

Purpose The aim of this study is to tell a story about how the coronavirus 2019 (COVID-19) pandemic affects small- and medium-sized enterprises (SMEs), using Saudi Arabia as an example. In particular, this study explores how SMEs in Saudi Arabia address needed changes in their survival strategy in the market during the COVID-19 pandemic. Design/methodology/approach This reflective essay is based on the “White Paper 3” of the Global SME Policy Network (GSPN). The GSPN is a global think tank based in Saudi Arabia. As one of the founding leaders of the GSPN and one of the authors of White Paper 03, the author writes this reflective essay based on the interviews of the Chief Executive Officers of 111 SMEs in Saudi Arabia. The interviewees were from six administrative areas including Al-Baaha, Eastern Region, Madinah, Makkah, Qassim and Riyadh. Importantly, 84.7%interviewees were from Riyadh. Findings The government has provided significant efforts and stimulus package to keep stable employment and small and medium businesses. A majority of the companies were satisfied with the stimulus packages announced by the government. The author believes that organizations need to monitor and evaluate all the developments associated with the spread of the emerging virus and to develop and implement contingency plans to meet any undesirable circumstances arising from COVID-19 pandemic. Originality/value The author believes that the role of SMEs in economic transformation and Vision 2030 is imperative. The author observes that Saudi Arabia is working to increase the contribution of SMEs to gross domestic product from 20% to 35%. Other countries should continuously evaluate the SME impact because of the COVID-19 and continue the support based on the evaluation report such as Saudi Arabia.

Purpose The purpose of this paper is to trace a legal evolution of the monitoring board and to reveal what brought the evolution and what is expected to emerge. The paper points to unique complementarities in Japanese corporate governance institutions and norms which will affect how the monitoring board performs its functions. Design/Methodology/Approach Analysis is based on texts on corporate governance legislations in Japan from the revision of Commercial Code in 1950 to the revision of Companies Act in 2014. Other sources include Tokyo Stock Exchange regulations, White Paper on Corporate Governance and other academic literatures on Japanese corporate governance. Findings Changes of non-legal institutions and norms in Japanese corporate governance necessitated legal reforms toward the monitoring board. Persisting institutions and norms, in particular lifetime employment, influences how the monitoring board performs its functions in Japan. Originality/Value This paper explains how the evolution of the monitoring board in Japan emerged and what will cause different expected functions of the monitoring board in Japan and other jurisdictions.

A review of some recent papers on a variety of aspects of interlibrary lending in the United States, Canada, Australia, Scandinavia and East and West Germany. Particular attention is paid to the problems of net lenders, to possible solutions such as improvements to union catalogues, an efficient library network or centralised collections, and to the associated problems of copyright legislation and publishers. It also looks at the value of telex and the lending of non‐book media.

PurposeAttempts to transform health systems have in many countries involved starting to pay healthcare providers through a DRG system, but that has involved managerial workarounds. Managerial workarounds have seldom been analysed. This paper does so by extending and modifying existing knowledge of the causes and character of clinical and IT workarounds, to produce a conceptualisation of the managerial workaround. It further develops and revises this conceptualisation by comparing the practical management, at both provider and purchaser levels, of hospital DRG payment systems in England, Germany and Italy.Design/methodology/approachWe make a qualitative test of our initial assumptions about the antecedents, character and consequences of managerial workarounds by comparing them with a systematic comparison of case studies of the DRG hospital payment systems in England, Germany and Italy. The data collection through key informant interviews (N = 154), analysis of policy documents (N = 111) and an action learning set, began in 2010–12, with additional data collection from key informants and administrative documents continuing in 2018–19 to supplement and update our findings.FindingsManagers in all three countries developed very similar workarounds to contain healthcare costs to payers. To weaken DRG incentives to increase hospital activity, managers agreed to lower DRG payments for episodes of care above an agreed case-load ‘ceiling' and reduced payments by less than the full DRG amounts when activity fell below an agreed ‘floor' volume.Research limitations/implicationsEmpirically this study is limited to three OECD health systems, but since our findings come from both Bismarckian (social-insurance) and Beveridge (tax-financed) systems, they are likely to be more widely applicable. In many countries, DRGs coexist with non-DRG or pre-DRG systems, so these findings may also reflect a specific, perhaps transient, stage in DRG-system development. Probably there are also other kinds of managerial workaround, yet to be researched. Doing so would doubtlessly refine and nuance the conceptualisation of the ‘managerial workaround’ still further.Practical implicationsIn the case of DRGs, the managerial workarounds were instances of ‘constructive deviance' which enabled payers to reduce the adverse financial consequences, for them, arising from DRG incentives. The understanding of apparent failures or part-failures to transform a health system can be made more nuanced, balanced and diagnostic by using the concept of the ‘managerial workaround'.Social implicationsManagerial workarounds also appear outside the health sector, so the present analysis of managerial workarounds may also have application to understanding attempts to transform such sectors as education, social care and environmental protection.Originality/valueSo far as we are aware, no other study presents and tests the concept of a ‘managerial workaround'. Pervasive, non-trivial managerial workarounds may be symptoms of mismatched policy objectives, or that existing health system structures cannot realise current policy objectives; but the workarounds themselves may also contain solutions to these problems.

PurposeThis paper aims to investigate the impact that governance mechanisms have on European Union ‘banks income smoothing behavior.Design methodology/approachThe authors examine the impact that corporate governance mechanisms included in European Commissions’ proposals regarding the improvement of corporate governance mechanisms (Green Paper) have upon European Union banks’ accounting policy decisions regarding the level of loan loss provisions (LLPs). In addition, the authors examine whether banks’ capital structure operates as an effective internal corporate governance practice. The authors investigate the association between certain corporate governance characteristics and the level of LLPs for a sample of 98 banks from 23 European Union countries for the period of 2010-2013, in the aftermath of the 2008 financial crisis. To test the hypotheses, a multivariate regression model is run. Similar to previous research, the authors use ordinary least squares analysis to test the results.FindingsEmpirical findings provide evidence that there is a positive association between LLPs and accounting income, implying the existence of an income-smoothing pattern of provisions. In addition, the results suggest that banks managers’ decision to smooth income may differ with regard to the board structure, the level of leverage and the provision of disclosure for remuneration for chief executive officer.Originality/valueThe findings of this study contribute to the existing literature concerning banks’ income smoothing behavior. These findings can be useful to regulators, as the authors provide some evidence regarding the effectiveness of the European Union corporate governance framework.

Purpose The purpose of this paper is to analyse the highly cited articles published in Accounting, Auditing and Accountability Journal (AAAJ), since its inception, to answer three research questions: first, how have scholarly articles published in AAAJ developed? second, what are the focus areas and characteristics of articles in AAAJ, and who are the influential authors? third, who are the emerging next generation scholars and what are the emerging research themes in AAAJ? Design/methodology/approach A structured literature review (SLR) was used to analyse 126 most cited classic AAAJ articles and 21 additional emerging articles published between 1988 and 2016. Traditional literature reviews can have varied results because of a lack of rigour. The SLR method allows for an examination in detail of the articles, authors, focus areas and pattern of AAAJ publishing over three decades. Findings The findings show increased diversity in more recent years in theories, methods, origins, focus areas, and where AAAJ articles are cited, which highlights that the interdisciplinary accounting research project is maturing and remaining true to the ideal of being inclusive. Research limitations/implications Within this diversity, the analyses show that AAAJ remains focussed on and presents opportunities for impactful accounting research related to social issues, including non-financial corporate reporting/disclosure, public sector accounting, corporate governance and alternative forms of accounting, audit and accountability. Additionally, there is a need for more practice-based research to address the “wicked” problems at the intersection between accounting and society. Originality/value This paper presents accounting researchers with an opportunity to develop insightful and publishable studies. Also, it serves as a basis for developing future research agendas in the interdisciplinary accounting field.

Purpose – This paper aims to offer a brief personal reflection upon, and celebrates, the 10th anniversary of Qualitative Research in Accounting & Management (QRAM). More specifically, the author highlights the journal's contributions towards advancing qualitative management accounting research over the last decade, and the author suggests possible future avenues. Design/methodology/approach – This short paper mainly constitutes a review of qualitative management accounting articles published in the first ten years of QRAM's publishing life, plus some personal reflection and suggestions for future directions. Findings – The author celebrates the impressive achievements of QRAM's founding editors, and the author is encouraged to offer the personal views on how the journal might excel further in years to come. Research limitations/implications – Although the piece is primarily personal reflection, there is hopefully some food for thought with regard to fruitful directions in tomorrow's qualitative management accounting research. In particular, arguments are made for more undertaking of processual qualitative research and also for more targeted focus on the connections between management accounting and other relevant disciplines such as management and organisation studies. Practical implications – The paper offers no practical implications as such, but does discuss, and in fact heeds some caution against, the apparent trend of (possibly too uncritically) seeking to tease out practical implications from qualitative management accounting research. Social implications – Again, while this paper offers no specific discussion on its social implications, the author would add that any qualitative management accounting research paper inherently carries at least some implications for society; management accounting and the wider society are continually intertwined through time. Originality/value – The author would not claim that there is much that is original in this short piece – most of what is offered simply gathers others' past contributions. But hopefully there will be some values in the ideas offered with regard to the exciting future ahead for qualitative management accounting research in QRAM.

International audience; This paper aims to investigate the changes in the properties of accounting incomepublished by French listed companies during the 1990s. It also analyzes the impact of certaincorporate characteristics such as size, international financing, and audit firm, on such changes.Design/methodology/approach – Multivariate regression is used.Findings – In French companies, good news has a delayed impact on earnings, as accountants onlyallow the effect of such news to be recognized gradually in the earnings measure. Conversely, badnews is reflected rapidly in earnings. The results confirm a general upward trend in the degree ofconservatism of accounting earnings over the period as a whole. However, except for firm size, noneof the corporate characteristics examined can predict a company's accounting earnings properties.Research limitations/implications – In future studies, it will be interesting to develop and testother possible corporate and/or institutional factors relating to accounting earnings properties.Practical implications – The paper provides an insight analysis on the evolution of institutionalenvironment in France and its impact on accounting.Originality/value – First study on properties of accounting income in France.

PurposeThe purpose of this paper is to present a mini review of corporate governance in Malaysia. The paper acts as an introduction to the history of corporate governance in Malaysia, from the starting point until the release of the new Blue Print.Design/methodology/approachThe paper adopts a browsing method that takes into consideration the review of the Malaysian Code of Corporate Governance. It also reviews the new blue print of the code of governance in Malaysia.FindingsAn extensive effort is being implemented to improve the corporate governance mechanisms in Malaysia and although Malaysia is following the UK style in designing the corporate governance code, it secured the 4th position among the world's top countries growing in the direction of attracting investors.Originality/valueThis is a review paper based on the guidelines of corporate governance in Malaysia.

Purpose – In light of the recent report on regulation by the CMO of England and Wales and the subsequent Department of Health White Paper, this paper aims to consider the nexus between revalidation, appraisal and clinical governance. It provides a summary of the history of revalidation in the UK and explores how revalidation is linked to annual appraisal. It further considers the implications of this relationship and its potential impact on clinical governance and practise. Design/methodology/approach – This is a policy review related to revalidation and appraisal including primary sources from the Department of Health, the GMC, Fifth report of the Shipman Inquiry and published journal articles. Findings – Local clinical governance will be a significant part of the route to re‐licensing for the vast majority of doctors working in the NHS and many of the larger private sector hospitals. Although it will be used for two different purposes, it is generally accepted that the information collected by doctors for their annual appraisal will also form the basis of evidence for revalidation. If appraisal is to be effective, robust and consistent, it is important that the clinical governance framework within which it operates is appropriately designed for its increased role within the regulatory system. Originality/value – This paper is a valuable summary and introduction to the concept of revalidation in the UK, its history and its impact on clinical governance and regulation. It provides a timely review and analysis of the proposed changes to clinical governance at the local, SHA level and the strengthened connection between consultant appraisal and revalidation, contained in both the Department of Health White Paper – Trust, Assurance and Safety and the report – Good Doctors, Safer Patients, by the Chief Medical Officer for England and Wales.

The permeation of the corporate social responsibility imperative and the proliferation of the Internet across the globe have begun to redistribute social influence. A wider spectrum of competing stakeholders now exists and as a result corporate strategies and governance structures are subject to greater demands for transparency and accountability. In this context, reputation, of which the public relations practitioner is custodian, is now a company’s most valuable and fragile asset. To help rationalise the accountability dynamic, proposed changes to UK company law could enable a more inclusive approach to corporate reputation management through a change in definition of directors’ duties and the introduction of a non‐mandatory operating and financial review (OFR) to include intangible assets within a company’s reporting framework. The proposals are likely to be the subject of a white paper and legislation in the this session of parliament. This paper argues that by demonstrating greater emphasis on planning, research and evaluation the public relations practitioner can more effectively inform the company reporting framework and exceed the demands of accountability necessary for successful strategic corporate reputation management.

For more than two decades the framework governing the statutory audit of companies within the European Union (EU) has been the subject of debate and reform. Significant progress has been made with the publication of the European Commission (EC) Green Paper (1996), and the subsequent EC Conference (1997) and EC Communication (1998). The objective of this paper is to provide a commentary on the recent reviews of the regulatory framework for statutory audit at EU level in the context of ongoing developments. The paper concludes that the regulatory framework for statutory audit in the EU is far from complete and much remains to be done. The way forward, at least in the short term, relies on the accountancy and auditing profession taking the lead in finding solutions. The different nature of accounting, financial and legal traditions within the EU, and the need to search for consensus, however, makes it difficult to predict when the EC will be in a position to complete an internal market for audit services within the EU. A significant factor worthy of further consideration is that developments at the international level are in danger of outpacing the EU's ability to respond. Because of the size, power and adaptability of US financial markets, it is possible that US Generally Accepted Accounting Practices (US GAAP) and US Generally Accepted Auditing Practices (US GAAS) may become the dc facto global standards for listed companies.

Clinical practice guidelines are increasingly being recognised as integral to the clinical effectiveness agenda. According to the recent Scottish White Paper, Scotland “leads the way in clinical effectiveness”. The Scottish Intercollegiate Guidelines Network (SIGN), established in 1993, has produced over 20 clinical practice guidelines, and plans to produce at least as many more, while reviewing existing guidelines at a minimum of every two years. This represents a substantial investment of NHS resources. This paper investigates whether this investment is being recouped in Scottish NHS acute trusts via the implementation of SIGN guidelines, and whether their implementation is being audited properly. It is argued that without clinical audit, guideline implementation is unlikely to succeed. This has important ramifications for the implementation of clinical governance.

This short paper is focused around two important published papers in the international accounting and finance literature. These two papers (Cowen et al., 1987; and Maheshwari, 1992) are concerned with examinations of levels of social disclosure by leading companies. Despite relying on data which is several years apart and drawn from very different reporting environments the results are remarkably similar. Examining such remarkable similarity between papers is principally motivated by the continuing debate about the extent ‐ and desirability ‐ of international comparability in corporate reporting practices. The present papers offer unusual insights into this issue. A secondary motivation arises from speculation about the need for authors to support and explain remarkable results in a climate of increased publication activity in which journal editors and referees are less able to police and monitor unusual results.

The NHS Executive formally launched the controls assurance initiative in November 1999. The project which supports “governance in the new NHS” and the “modernisation” agenda as described in the White Paper published March 1999, was designed to help trusts implement and adopt a holistic approach in managing risks. Investigates whether links could be found between the progress trusts were making implementing the initiative and the management methodologies employed, and tests the hypothesis that the more advanced trusts would be those that had employed an inclusive management approach. Reviews the management methodologies that were used by 25 NHS trusts located in the North‐west of England. The trusts involved in this research were portioned according to their progress and the management techniques of each trust were analysed for patterns that could confirm or dismiss the above hypothesis.

The past few months have seen the publication, by both the Conservative and Labour Parties, of statements of industrial strategy (HMSO 1994, The Labour Party 1994). It is interesting to note that, although TECs and LECs are referred to in both of the main parties' strategies, the Business Link initiative is only referred to in ‘Competitiveness: helping businesses to win’ (HMSO 1994). This White Paper refers intermittently to the original and newly extended role of the DTI sponsored Business Links. The Labour Party strategy makes no reference whatsoever, although they are preparing a further policy statement on small firms which may clarify the position.

The recent Australian reforms in higher education envisaged the creation of a unified national system at the expense of the binary system with a smaller number of larger institutions through institutional mergers. The Green Paper quoted the La Trobe‐Lincoln merger as an example. Based on an evaluation of relevant archival material and interviews with most of the key personnel of both institutions and the merged university, examines the key issues which delayed the merger for seven years, the goals and the academic rationale set with outcomes of this process within the first two years after the formal merger along with future trends.

Purpose This paper aims to examine the relationship between audit committee (AC) independence and AC meeting frequency in an emerging country where the presence of majority independent directors (IDs) on AC is a voluntary requirement. Design/methodology/approach This study uses the agency theory framework to examine the relationship between AC independence and AC meeting frequency. The empirical evidence is provided by a unique hand-collected sample of Bangladeshi listed companies. Multivariate regression analysis is used to test the relationship. Robustness checks provide further empirical support. Findings This paper finds a positive and significant relationship between AC independence and AC meeting frequency. This is consistent with the notion that IDs are better monitors and demand more frequent AC meetings to protect their reputations. However, having at least two IDs does not significantly affect the number of AC meetings in family firms. This evidence questions director independence in family firms. Research limitations/implications This is a single-country study. Therefore, the findings may not apply to other countries with different institutional settings. Originality/value Unlike most prior studies, this study is based on a voluntary institutional setting where the companies are not required to have ACs comprising the majority of IDs. In such a setting, the authors find a significantly positive association between AC independence and meeting frequency compared to either a negative or insignificant relationship in the prior literature.

Purpose This study aims to address the following four research questions: first, whether auditors report critical audit matters (CAMs) to shield themselves against possible litigation; second, whether reporting quality affects auditors’ propensity to report CAMs; third, whether auditors’ tenure length – reflecting familiarity with clients’ financial reporting – affects their likelihood to report CAMs; and fourth, whether auditors’ conservatism increases the likelihood of CAMs reporting. Design/methodology/approach Data are manually collected from audit reports including CAMs in 10-K, then financial data are collected from the Capital IQ database, and market data are collected from the CRSP database. Using propensity score matching, the initial sample of companies with CAMs is matched with companies without reported CAMs. Performance adjusted discretionary accruals, real earnings management proxy, Khan and Watts’ (2009) C-score, propensity to issue a going concern opinion, Dechow et al.’s (2011) F-Score, Rogers and Stocken’s (2005) model and Houston et al.’s (2010) model are used to measure reporting quality, auditor conservatism, misstatement risk and litigation risk, respectively. Findings The results do not show that auditors report CAMs opportunistically to shield themselves from litigation risk. However, the results do suggest that auditors have a greater tendency to report CAMs when reporting quality is low and when they are more conservative. On the other hand, they have less tendency to report CAMs in their first year of engagement. Research limitations/implications The findings of this study have important implications for the auditor behavior literature as it shows that, when it comes to reporting CAMs, auditors actually behave objectively and do not report in a trite way. This study also provides early archival evidence on a standard that relates to the first major change to the auditor’s report in decades. To the best of the author’s knowledge, it is the first to provide evidence on the association between auditor conservatism and auditors tendency to report CAMs and the first to triangulate prior research on auditor litigation risk by providing the first archival evidence on the auditors “litigation-shielding” concern. Practical implications This study examines whether auditors attempt to meet the stated objective of reporting CAMs by signaling information about reporting quality. This study demonstrates that reporting CAMs is not a “boilerplate” communication. This study has implications for standards setters, as it shows that CAMs are reported in a way consistent with the objectives of the new standard, namely, via signaling information in the audit report on the quality of the financial statements. Originality/value In terms of originality, this paper uses a manually collected sample and, to the best of the author’s knowledge, is the first to focus on auditor’s behavior rather than on investors or clients reactions to CAMs. Also, this paper addresses a recently issued standard using US data and archival approach, rather than experimental. This paper also provides relevant evidence related to concerns raised earlier but were not empirically examined, such as reporting CAMS as “boilerplate” expectations. This paper provides new evidence on the auditors’ behavior with regard to litigation risk.

Purpose This paper aims to recognize the direct influence of audit quality (AQ) on earnings management practices (EMP) and company value (CV), as well as the mediating role of EMP in the link between AQ and CV. It presents new factual proof from the Jordanian market, which is still in its early stages. Design/methodology/approach A pattern of 43 service firms listed on the Amman Stock Exchange (ASE) was collected for the timeframe (2012–2019), giving an amount of 344 firm-year observances. The data was collected from the annual reports extracted from the ASE’s database and tested with panel data analysis. Findings The results show that audit firm industry specialization positively affects EMP while its size and tenure do not, which implies that its industry specialization does not restrict earnings management but rather leads to an increase in opportunistic behaviors. Audit firm size and audit firm industry specialization positively affect CV, whilst audit firm tenure does not. Additionally, the findings indicate that EMP negatively affect CV, and EMP act as a mediator for the AQ–CV nexus. Research limitations/implications Stakeholders can use the findings to enhance the capacity and effectiveness of Jordan’s fiscal market. For example, our results will boost policymakers’ eagerness to institute suitable statutes improving Jordan’s fiscal market performance. Besides, the results can assist existing and potential investors make sound adjudication by using AQ proxies and earnings management as signals to predict future company’s value. Originality/value The paper differentiates itself from previous papers through initiating a new proposed model by exploring the role of earnings management as a mediator in the nexus between AQ and CV by presenting new factual proof from the Jordanian market.

PurposeThe aim of this paper is to introduce a framework that helps to identify strategic themes on which real estate investors form their strategies. A holistic approach to strategic management in real estate management has enjoyed popularity in corporate real estate research, while similar research has been lacking from the investor-based real estate management.Design/methodology/approachThe research design consists of two main parts: 1) formulating propositions based on existing literature and 2) attempting to validate the propositions through a qualitative interview study with major real estate owners in Finland.FindingsThe main finding is that the current real estate investors reflect the transient nature of competitive advantages and assess their strategies accordingly. The companies consider the traditional profitability and revenue growth aspects of their business but also a more long-term future growth dimension. As an outcome, the investors base their strategies on eight strategic themes which are “Innovation”, “ESG”, “Marketing and sales”, “Financial management”, “Leasing management and tenant satisfaction”, “Competitive environment and portfolio management”, “Outsourcing and strategic partnerships” and “Cost and operation optimization”.Research limitations/implicationsThis paper opens opportunities for future research concerning different strategies in real estate investment business and their impacts.Practical implicationsThe presented framework provides support for real estate investors to create real estate management strategy or to evaluate their current strategy and to recognize operational actions and decisions that are relevant for their strategy.Originality/valueThis paper provides an extension to corporate real estate (CRE) literature by showing that the CRE theories are adaptable to real estate investment and provide value for their strategic management. This paper also contributes to real estate investment literature by providing a well-founded and empirically contested strategic management framework, the IREM framework, for identifying strategic themes on which real estate investors form their strategies.