e‐Participation Model for Sustainable Cultural Tourism Management: a Bottom‐Up Approach

The paper presents a ‘bottom‐up approach’ for cultural tourism management, based on the development of an e‐participation website for an Italian city, where the stakeholders are placed at the centre of the decisional process. The analysis provides an indication on how to personalize and differentiate the cultural tourism offer according to the stakeholders’ perspectives and to specific territorial characteristics. Innovative techniques of stakeholders’ engagement are offered by information and communication technologies tools that can play a vital role in today's cultural destinations. However, the study shows that the Web is yet to be utilized as an effective tool in stakeholders’ participation processes. Copyright © 2011 John Wiley & Sons, Ltd.     

A sustainable governance model to prevent corporate corruption: Integrating anticorruption practices,corporate strategy and business processes

Our paper investigates the integration of anticorruption practices, corporate strategy and business processes of contemporary organisations to provide a new and emerging sustainable governance model. Using the single case study approach to answer our research question, we provide novel evidence from the analysis of the Italian manufacturing company Acciai Speciali Terni Spa. Our case study interprets a consolidated entrepreneurial experience, constructing an integrated meta‐management framework of anticorruption practices. Enriching existing literature, we have adopted the frameworks by Asif et al., (2010) and Asif et al., (2011) to test results and obtain general perspectives and practical implications for organisations, regulators and governments, proposing a sustainable governance model to prevent corruption and bribery.     

An Incomplete Audit at the Earnings Announcement: Implications for Financial Reporting Quality and the Market's Response to Earnings

There has been a substantial increase, since 2004, in the number of firms that announce annual earnings before audit completion as opposed to after audit completion. In this study, we argue that earnings announced before audit completion are associated with lower financial reporting quality and investor perceptions that earnings are more likely to be overstated. Consistent with this expectation, we document that the market places more (less) weight on good (bad) earnings news for earnings announced after audit completion relative to earnings announced before audit completion. We continue to find this differential market response when we expand the returns window to include the 10‐K filing date, suggesting that the differential response is not driven by investors' temporary concerns about earnings revisions between the earnings announcement and the 10‐K filing date or by differential GAAP disclosures in the earnings announcement, as suggested in prior research. Finally, as a direct test of financial reporting quality, we show that earnings announced with a completed audit are less likely to be restated in the future, are less likely to meet or beat expectations, and are associated with fewer income‐increasing discretionary accruals than those announced with an incomplete audit.     

A theoretical and empirical investigation of job satisfaction and intended turnover in the large CPA firm

This research reports on the development and test of a model of job satisfaction and intended turnover in the large CPA firm environment. On an overall basis, the model was generally supported. Satisfaction showed strong significance in a multiple regression equation predicting the probability of turnover. In addition, eleven dimensions of job satisfaction developed through factor analysis, as well as a “career preparation” variable, correlated positively with a measure of overall job satisfaction and negatively with a measure of the probability of turnover.     

Information friction and investor home bias: A perspective on the effect of global IFRS adoption on the extent of equity home bias

This paper provides a perspective on the effect of IFRS adoption on the tendency of investors to under-invest in foreign equities. We consider explanations for the equity home bias described in prior research and discuss research relevant to the informational consequences of global adoption of IFRS. Specifically, we evaluate whether IFRS adoption reduces information processing costs or decreases investor uncertainty about either the quality of financial reporting or the distribution of future cash flows. We predict that the effect of any reduction in information processing costs from the adoption of IFRS is likely to be small relative to the effects of other determinants of home bias such as the strength of investor protection mechanisms in foreign countries, behavioral biases toward familiar equities, and informational advantages related to geographical proximity. We argue that the quality of the information that investors have (or perceive they have) decreases with distance, conclude that global IFRS adoption is unlikely to affect home bias, and propose avenues for future research.     

Together or Apart? Monetary Policy Divergences in the G4

Open Economies Review - We evaluate monetary policy divergence in the G4. A Taylor rule is extended that admits a global element and also allows for unconventional monetary policy to be reflected...     

Research on the use of financial statement information for forecasting profitability

Research on the use of financial statement information for forecasting profitability has two objectives: (i) to generate improved forecasts of profitability and accurate estimates of firm value; and (ii) to identify market inefficiencies with respect to financial statement information. For these areas of research, this article describes the evolution, provides examples and shares implications of the research. It also discusses opportunities for future research. The article highlights that financial statement analysis research has slowly evolved and has received limited attention from academics. The article argues that there are vast opportunities for impactful research on fundamental analysis and market inefficiencies.     

Regional Differentiation and Farm Exit: A Hierarchical Model for Tuscany

We analyse the exit behaviour of Tuscan farms during the period 2000–2007 both at the farm and the territorial level. The study combines data from the 2000 National Census of Agriculture and three waves of the ‘Farm Structure Surveys’. The exit probability of the resulting sample, composed of 3,187 farms, is estimated through a Bayesian hierarchical probit model. Our results show that exits reflect the size and type of holdings. Likelihood of exit is higher in areas of higher population density that are not classified as ‘urban’ areas.     

Mortality Inequality in Finland*

We study inequality in mortality in Finland using registry data that cover the whole population for years 1990–2018. We create municipality‐level indices of regional deprivation (poverty rate), and show how age‐specific mortality rates have evolved across regions and over time. The inequality in mortality has been remarkably low over the time period for most age groups. However, among young and prime‐age males, the mortality rates have been persistently higher in the poorer areas. For these age groups, the leading causes of death are deaths of despair (alcohol and suicides) and accidents. For the cohorts that were young during the deep recession of the early 1990s, we also document higher inequality in middle‐age mortality than for cohorts entering the labour market in recovery periods.