Does an IFRS adoption increase value relevance and earnings timeliness in Latin America?

This study analyzes whether changing from local to international accounting standards improves the quality of accounting for Latin American companies. In particular, we aim to identify whether fundamental accounting variables are more relevant and increase earnings timeliness after companies adopt the International Financial Reporting Standards. This research was conducted during 2000–2014 using a sample of 923 companies from Argentina, Brazil, Chile, and Mexico. Employing panel data and quantile regression, our findings show that changes from local accounting regulations to internationally approved standards increase the value relevance. In addition, the results suggest the presence of earnings timeliness in large firms.     

The path of lease resistance: How changes to lease accounting treatment may impact your business

In this installment of Accounting Matters, we examine potential consequences of the Financial Accounting Standards Board's Proposed Accounting Standards Updates for Leases. In the context of a previous accounting change (FIN 48), we investigate how these changes will affect firms’ accounting choices, investment decisions, debt covenant requirements, and analysis of other key financial data. Changes in accounting standards may have significant indirect economic effect on companies as they can trigger debt covenant violations, restrict access to capital, and distort key financial information used by investors and lenders. New accounting standards may also directly affect the calculation of employee bonuses and incentives that utilize EBITDA or operating income as benchmarks. We include recommendations for managers and identify specific debt covenant components that may limit the negative consequences of the proposed change to lease accounting.     

Built-In Branding: How to Engineer a Leadership Brand

Everyone has experienced some sort of brand disappointment: the 'I didn't expect that from X' feeling. This failure of branding is a thorn in the flesh of marketing departments; often the problem is beyond their control and often it causes one of the most memorable - and most negative - experiences people have of their brand. In this article we will discuss the ways in which companies can engineer the delivery of their brands so as to reduce this risk and create enduring value.

This paper is concerned with the how: the way in which leadership brands bring their uniqueness to life to remain coherent and distinctive in all that they do. In order to grow leadership brands, we must understand how they are built into the organisation.     

Social Media,Social Me: A Content Analysis of Beauty Companies’ Use of Facebook in Marketing and Branding

This paper initiated an investigation on how beauty brands employ social media, particularly Facebook, to increase brand awareness and reinforce brand loyalty. It is no doubt that changes in the consumptive patterns of media have led companies to shift their focus from products to people and from information delivery to information exchange. Few studies, to our knowledge, exist that examine beauty brands and/or beauty companies’ use of social media as a means of engaging with or interacting with their current and potential consumers. Thus, the present study represented findings from a content analysis of Facebook posts from Estée Lauder, MAC cosmetics, Clinique, L’Oreal, Maybelline, and CoverGirl to see what types of social media tools were used more frequently by these brands to connect with their fans and users. Specifically, the study focused on the theoretical and practical implications of viral marketing in the branding strategies of the six beauty and/or makeup brands. Additionally, the study examined the way “high-end” brands used Facebook compared to the department store counterparts. These and other findings are discussed.     

Integrated marketing communications in the Australian and New Zealand wine industry

Integrated marketing communications and the management of brands is a vital area for research in many industries. The global wine industry is facing significant changes including: retail concentration; proliferation of brands and labels; fragmenting consumer markets; and over-production. Improving the planning, implementation and integration of marketing communications activities is essential for the survival of brands and companies operating under these conditions. This research reports on findings into marketing communications integration in the context of the Australian and New Zealand wine industries. The research employs Duncan and Moriarty's (1997) abbreviated Integrated Marketing Audit to examine key communications issues and demonstrates that a higher level of integration is associated with better brand-related performance.     

Celebrity Endorsement: A Literature Review

Use of celebrities as part of marketing communications strategy is a fairly common practice for major firms in supporting corporate or brand imagery. Firms invest significant monies in juxtaposing brands and organisations with endorser qualities such as attractiveness, likeability, and trustworthiness. They trust that these qualities operate in a transferable way, and, will generate desirable campaign outcomes. But, at times, celebrity qualities may be inappropriate, irrelevant, and undesirable. Thus, a major question is: how can companies select and retain the 'right' celebrity among many competing alternatives, and, simultaneously manage this resource, while avoiding potential pitfalls? This paper seeks to explore variables, which may be considered in any celebrity selection process by drawing together strands from various literature.     

Close to the customer: But is it really a relationship?

Everyone is developing relationships. Customers are being invited to have relationships with telephone companies, banks, auto dealers, airlines, and other suppliers of products and services. Relationship marketing is being touted as an effective strategy to guide companies into the next millennium. Recently there has been widespread reference to relationship marketing in the popular literature, and the concept has been embraced by many companies and organizations. There is little consensus, however, on what the concept means and even less consistency in how it is practised. What is relationship marketing? Practising marketers and articles in the trade press use the term in one way, while authors in academic journals seem often to be referring to something quite different. This paper reviews how the concept has been viewed by marketing authors and draws from social psychology to shed light on the characteristics of relationships. Some insights are drawn from a preliminary analysis of the results of focus group interviews that suggest how consumers describe their relationships with businesses.     

山寨营销的动因解析及实践启示

山寨现象非常普遍,山寨营销已成为弱势品牌营销创新的模式之一。首先回顾了弱势品牌的山寨营销的起源、背景、定义和类型,然后从品牌成长路径、消费者行为变迁、市场营销战略、利基营销和长尾理论等多个理论角度阐述弱势品牌开展山寨营销的动因。山寨营销的实践启示是山寨营销是在中国特定的市场环境中产生和发展起来的一种弱势品牌快速和低成本发展的营销方式之一,适合企业在初创时期或实力弱小阶段的品牌建设思路。     

The role of influencer–follower congruence in the relationship between influencer marketing and purchase behaviour

Over the last decade, influencer marketing has become one of the most important tools for companies and brands to increase awareness, sales, or image strength. Since consumers prefer brands and companies whose image is congruent with their actual or ideal self, we could expect that consumers tend to prefer influencers whom they can compare themselves with. Therefore, congruence between consumer and influencer is imperative in influencer marketing and may indicate whether the influencer will be able to promote products to the target audience in an appealing way. Using a quantitative empirical study, we surveyed more than 7500 individuals measuring how they perceive a specific influencer's credibility, content usefulness, congruence, and purchase behaviour. The results suggest that if there is a congruence between an influencer and the follower, the impact of the influencer's experience and its content usefulness on purchase behaviour is stronger.     

Incorporating International Accounting into the MBA Curriculum: Exploring Implications of the Financial Reporting Crisis of 2001–2009

Recent developments in the global business environment have led to important changes in accounting/auditing regulations, and have implications for the business school curriculum. While many of these issues are covered in advanced accounting courses, generally taken only by majors, the issues are sufficiently important that nonaccounting majors, at both the graduate and undergraduate level, should be aware of these issues as well. Recent developments favoring the adoption of International Financial Reporting Standards (IFRS) in the United States provide an overall compelling context for incorporating these standards into the business curriculum. The purpose of this article is to provide a road map for such incorporation.     

Ethical Issues in Financial Reporting: Is Intentional Structuring of Lease Contracts to Avoid Capitalization Unethical?

Under present accounting rules, lessees frequently structure contracts for leased assets, in situations where they enjoy benefits similar to outright ownership, in a way that keeps both the leased assets and related liabilities off their books. This method of accounting creates off-balance sheet financing and is called operating lease accounting. The paper debates the ethicality of intentionally structuring lease contracts to avoid disclosing leased asset and liability amounts and describes the “slippery slope” of rule-based accounting for synthetic leases and special purpose entities, that, in the author’s opinion, led to the accounting debacles at Enron and other companies. The ethical intent that is implicit in the Securities and Exchange Commission and Financial Accounting Standards Board regulations is discussed and suggestions for improving the ethicality of financial reporting are provided. Thomas J. Frecka is the Vincent and Rose Lizzadro Professor of Accountancy at the University of Notre Dame. He teaches financial reporting and accounting fraud courses.     

The effect of IFRS on earnings management in Brazilian non-financial public companies

This article evaluated whether changes in accounting practices brought a reduction in earnings management (EM) in listed Brazilian non-financial companies through discretionary accruals. We developed a model to observe the effect of the International Financial Reporting Standards (IFRS) on firms' EM as well as the restrictive effects of the audit, the corporate governance and the regulatory environment. We find that the ones with the most limiting effects is the regulatory environment. We also find that the transition to IFRS had a restrictive effect on EM in Brazil after its complete implementation.     

We’re all connected: The power of the social media ecosystem

Consumers are adopting increasingly active roles in co-creating marketing content with companies and their respective brands. In turn, companies and organizations are looking to online social marketing programs and campaigns in an effort to reach consumers where they ‘live’ online. However, the challenge facing many companies is that although they recognize the need to be active in social media, they do not truly understand how to do it effectively, what performance indicators they should be measuring, and how they should measure them. Further, as companies develop social media strategies, platforms such as YouTube, Facebook, and Twitter are too often treated as stand-alone elements rather than part of an integrated system. This article offers a systematic way of understanding and conceptualizing online social media, as an ecosystem of related elements involving both digital and traditional media. We highlight a best-practice case study of an organization's successful efforts to leverage social media in reaching an important audience of young consumers. Then, we conclude with several insights and lessons related to the strategic integration of social media into a firm's marketing communications strategy.     

Corporate social responsibility as cultural meaning management: a critique of the marketing of ‘ethical’ bottled water

To date, the primary focus of research in the field of corporate social responsibility (CSR) has been on the strategic implications of CSR for corporations and less on an evaluation of CSR from a wider political, economic and social perspective. In this paper, we aim to address this gap by critically engaging with marketing campaigns of so-called ‘ethical’ bottled water. We especially focus on a major CSR strategy of a range of different companies that promise to provide drinking water for (what they name as) ‘poor African people’ by way of Western consumers purchasing bottled water. Following Fairclough's approach, we unfold a three-step critical discourse analysis of the marketing campaigns of 10 such ‘ethical’ brands. Our results show that bottled water companies try to influence consumers' tastes through the management of the cultural meaning of bottled water, producing a more ‘ethical’ and ‘socially responsible’ perception of their products/brands. Theoretically, we base our analysis on McCracken's model of the cultural meaning of consumer goods, which, we argue, offers a critical perspective of the recent emergence of CSR and business ethics initiatives. We discuss how these marketing campaigns can be framed as historical struggles associated with neo-liberal ideology and hegemony. Our analysis demonstrates how such CSR strategies are part of a general process of the reproduction of capitalist modes of accumulation and legitimation through the usage of cultural categories.     

我国汽车自主品牌的营销策略分析

自上个世纪50年代一汽创立以来,我国汽车产业已经有半个多世纪的发展历程。近年来,我国汽车自主品牌因其性价比高倍受消费者的青睐,发展势头迅猛。自主品牌企业也不负重望,不断进行技术创新,不断加强产品品质,以尽量缩小和外资品牌的差距。在自主品牌企业苦修内功的同时,消费者对自主品牌的偏见依旧存在,尤其在中档车市场上,消费者还没有完全接受该品牌。本文拟从市场营销的角度分析我国汽车自主品牌的品牌发展落后的原因,并给出相应的营销对策及建议。     

Conceptualizing the brand in social media community: The five sources model

The emergence of social media is challenging the ways that marketing academics and practitioners conceptualize and manage brands. This research explores the consumers׳ specific motivations for the purpose and structure of the consumption of brands in social media community. Keeping the evolving economic relevance of social consumption in mind, the resulting conceptual model has been designed to give a better understanding of the unique branding opportunities and relationships that social media present to brand managers. The research employs a triangulated method that includes a social media-based Facebook focus group and face-to-face interviews. The findings suggest that consumers expect some very specific two-way interactions with brands and that social media may be the only way to effectively deliver these demands. This study identifies five core drivers of brand consumption in a social media community articulated in the Five Sources Model: functional, emotional, self-oriented, social and relational. These core drivers represent unique opportunities for brands to enhance their relationships with their customers and to increase the likelihood of an active and beneficial online community built around their brands. Future research implications are discussed.     

衍生金融工具及其对会计的影响

经济环境的变化必然引起会计的变化 ,衍生金融工具的出现和发展为会计提出了新的研究课题。衍生金融资产与衍生金融负债与传统会计资产和负债的相比有许多不同之处 ,对衍生金融工具对会计有关要素的定义、确认、计量和报告等方面的影响的探讨研究 ,有助于科学地解决会计实务中的问题。     

关于公益营销的策略探讨——以“欧莱雅世博礼仪讲堂”为例

后危机时代,我国经济快速发展,品牌竞争加剧,更多企业借助重大事件开展公益营销,进行公益宣传,增加品牌资产。在营销传播视角多元化和企业社会责任兴起的背景下,研究企业的公益营销具有现实意义。以“欧莱雅世博礼仪讲堂”为例,这一活动有力地把握了市场环境,找到了利益相关者的共同点,使公益活动与品牌主体得到了完美融合,并对公益营销策略做出了有益的启示：注重传播的互动性、适配性和完整性。     

Institutional drivers of conformity – Evidence for management accounting from Brazil and Germany

This paper contributes to the discussion of international convergence in management accounting, which has included only limited empirical data. Building on institutional theory, we have analysed cross-sectional field study data from a unique set of manufacturing companies in Brazil and Germany. Our data suggest that management accounting structures and practices in both countries are converging towards international standards under the pressure of coercive, mimetic and normative isomorphism. Although firms generally tend to adopt Anglo-American practices, we also find that German management accounting concepts have a strong influence in Brazil. In addition to elaborating on the imitation of international best practices and standardised information systems, we show the pressures created by the adoption of the International Financial Reporting Standards and the pursuit of legitimacy via adherence to social expectations.     

封面导读:50家快公司的年度愿景

一个处于快速成长阶段的企业,就像一只蚕蛹,不断蜕皮,每蜕一次皮,就长大一次。前提是每次蜕皮都能成功。对于这些快公司而言,产品和技术研发、营销模式的确立、市场占有率的提高、品牌知名度的提高、资本的注入,都是亟需突破的束缚。无论先迈左腿还是先迈右腿,目的只有一个,即提高自身竞争优势。