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This paper investigates the impact of corporate sustainability and the consistency of corporate sustainability efforts on firm financial performance in Canada. Using data on 266 Canadian companies over the 2007–2017 period, we find a significantly positive association between corporate sustainability performance and firm financial performance. In addition, we find that companies that perform consistently well on sustainability (i.e., consistent performers) achieve better financial performance compared to inconsistent performers. Thus, far from their being net costs/expenses, our results indicate that corporate sustainability performance and consistency in sustainability performance both provide net benefits and significantly impact financial performance positively, implying that corporate sustainability not only helps address the needs of the current and future generations but also has a positive effect on the corporate bottom line. Taken together, our results suggest that not only does corporate sustainability have a positive effect on firm performance, but better financial performance may be achieved through a committed—rather than a “tokenism”—approach to corporate sustainability. 相似文献
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This fictional case centers around a young Dutch couple who emigrated to Canmore, Alberta. Upon arriving, Saul and Rens opened two successful food trucks and are now looking to promote each truck's main chef to truck manager. They plan to offer a performance bonus based on the net income of each truck and have requested a local accounting student to advise them on the new bonus structure. Goode Food Trucks Inc. presents an opportunity for students to demonstrate technical competence in managerial accounting (rate methods, period cost allocation, and data visualization); strategy and governance (employee performance incentives); and financial reporting (reporting needs) while incorporating enabling competencies (communicating and adding value). The case and teaching notes were adapted from principles used to train and evaluate Chartered Professional Accountant (CPA) candidates and tailored to an appropriate level for undergraduate learners. MBA instructors may also use this case to apply multiple concepts in a defined context, thus enhancing a course's “real-life” applicability. 相似文献
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This paper explores firms traded on the Toronto Stock Exchange (TSX) Venture Exchange and their voluntary disclosure practices by focusing on earnings press releases (EPRs). We compare the characteristics of EPR issuers and non-issuers and investigate how the former group uses headline impression management in their EPRs to highlight firm performance. More precisely, we examine emphasis and tone management techniques in the headlines of over 1,300 EPRs by TSX Venture Exchange (TSX-V) firms. Our results show that the main determinants of the EPR disclosure choice are the achievement of positive revenue, an increasing trend in firm market value, and industry type. We find that EPR issuers reinforce and repeat positive results in the headlines of EPRs and use positive tone management to highlight positive financial performance. Our results confirm the association between firm performance and strategic placement of performance results, while illustrating that the strength of this association varies by industry and by EPR characteristics such as EPR length and numerical intensity. Overall, this paper sheds light on TSX-V firms, their disclosure practices, and potential violations of recommendations from regulators regarding avoiding exaggerated or promotional language in press releases. 相似文献