Revista de Contabilidad - Spanish Accounting Review 2023, V. 26 N. 2
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- PublicationOpen AccessA Review of Global Reporting Initiative (GRI) Research with Sustainability Reporting : 1999-2020 dataset(Universidad de Murcia, Servicio de Publicaciones, 2023) E-Vahdati, Sahar; Aripin, NorhaniThis review paper aims to identify the main areas of studies in the field of the Global Reporting Initiative (GRI) research with sustainability reports. Using a bibliometric analysis, this study evaluated 955 published documents retrieved from the Scopus database to find a research review structure on GRI with sustainability topics from 1999 to 2020 by utilizing the bibliometric package in VOSviewer and Harzing’s Publish or Perish. This paper examined the most effective journals, authors, countries, institutions, subject area, keywords, citation, co-authorship, co-citation, bibliographic coupling, and co-occurrences networks. Also, this paper demonstrated the intellectual structure of the research and perceived obstacles to growth in the literature. The results show that the trend of publications has been growing over the past 20 years. This study offers a comprehensive understanding and publication of past studies trends and suggests that it will be a much greater number of articles in this field over the next decade which help the future direction of researchers in this area.
- PublicationOpen AccessWomen in accounting : a historical review of obstacles and drivers on a patriarchal and classist path(Universidad de Murcia, Servicio de Publicaciones, 2023) Uribe Bohorquez, María Victoria; García Sánchez, Isabel MaríaThis document, through a systematic review of academic papers, presents a comprehensive and synthetic proposal that compiles, on the one hand, the prevailing macho, misogynistic and phallocentric obstacles and stereotypes at the family, social and work level between the eighteenth and twentieth centuries and that had an impact on the accounting profession, hindering the access and evolution of women in it. In contrast, a series of factors are presented that drove the training and entry of women to bookkeeping and accounting tasks, which, in turn, served as a way to break stereotypes and traditional gender roles, achieve legislative improvements and the incursion of women into the paid labor market. Besides the above-mentioned elements, it is important to take into account the class perspectives that, under promises of well-being and economic status, idealized a model of a woman whose realization was exclusively at the domestic and family level.
- PublicationOpen AccessImpact of curricular internships in accounting on university students : an empirical study in Spain(Universidad de Murcia, Servicio de Publicaciones, 2023) Pérez-Espés, Cristina; Cervera Oliver, Mercedes; Cea D'Ancona, FranciscaVarious organizations, commissions and committees highlight the importance of teaching future accounting professionals through the combination of theoretical training and professional practice. The university must guarantee an accounting profession through graduates who can respond to the needs and global changes of the society. Curricular internships, conducive to experiential learning, allow the student to integrate classroom learning with professional practice, as well as to translate abstract theoretical concepts into reality. An increasing number of universities include the subject of internships within their curricula. All of this makes it interesting to analyse the impact these internships have on university students. This article presents, through factor analysis and the technique of structural equations, a model that comprehensively evaluates the impact of curricular internships in the accounting field on students. The information necessary to estimate the model was obtained through a questionnaire presented to students at the end of their internship period. The survey was completed by 279 students belonging to the Degrees in Business Administration and Management and in Economics at the Autonomous University of Madrid.
- PublicationOpen AccessReporting measurements or measuring for reporting? Internal measurement of the Circular Economy from an environmental accounting approach and its relationship(Universidad de Murcia, Servicio de Publicaciones, 2023) Llena-Macarulla, Fernando; Moneva, José M.; Aranda-Usón, Alfonso; Scarpellini, SabinaThis paper aims to provide a model to measure the circular economy in businesses from an environmental accounting approach. The range of circular activities and the intensity with which companies implement them are analysed to increase the understanding of the relationship between the implementation of circular economy in firms and their different environmental management accounting and reporting practices. The study is developed through an empirical analysis based on a survey addressed to a sample of Spanish companies and designed to analyse different environmental accounting practices and measure the circular economy-related activities introduced by companies to close the material loops in processes. Main results indicate that circular economy activities are generally introduced by companies progressively, without clearly responding to common patterns for the introduction of the different circular principles and activities. A moderate correlation is observed between companies’ level of circular economy and their environmental management accounting practices, with a more significant correlation for a higher number of circular activities, particularly for firms that implement environmental management systems and have higher levels of transparency and sustainability information policies. Although companies are progressively adopting circular activities, the lack of specific indicators limits their internal measurement. Consequently, the information provided by organisations about the closing of material loops remains sporadic. The results highlight the need for built-in specific metrics to deploy environmental accounting practices in circular economy models.
- PublicationOpen AccessThe role of agents in accounting reform in the face of the institutional change : the case of the Colegio Universidad de Osuna (1775-1824)(Universidad de Murcia, Servicio de Publicaciones, 2023) López-Manjón, Jesús D.; Gutiérrez-Hidalgo, FernandoThis study aims at enriching literature on accounting change by studying the role of the agents in the accounting reform of the Colegio Universidad de Osuna (CUO, College and University of Osuna) in the last quarter of the eighteenth century. The paper explores how, in the period 1775-1777, the CUO modified its rules, including its accounting procedures, to prevent its disappearance. Those modifications were aimed at aligning the CUO with the new Enlightenment institutional framework regarding academic requirements and economic rationality. The visitor who prepared the new rules, Miguel Benito Ortega, played a central role in this process. The paper explores the circumstances that favored Ortega´s role as an agent of change and those that caused the brief and incomplete application of its rules, which contributed to CUO surviving some years but that it would be closed definitively in 1824.
- PublicationOpen AccessThe impact of socioemotional wealth on corporate reporting readability in a multinational family-controlled firm(Universidad de Murcia, Servicio de Publicaciones, 2023) Moreno, Alonso; Quinn, MartinExtant research suggests that the most significant elements of a family firm’s socioemotional wealth (SEW) can drive financial reporting decisions. This paper explores this empirically by analyzing corporate disclosures of a case organization – Guinness, a multinational family brewing firm – over an extended period. We identify the presence of the SEW dimensions in the firm’s corporate disclosures and explore the relationship between the most salient SEW dimension (family identity) and readability, measured by the Bog index. The analysis finds a positive association between family identity and readability in the period when the firm under study can be defined as a family firm. Other SEW dimensions do not appear to have an influence on readability. In addition, at the end of the period of study, when the firm under study ceased to be a family firm, the SEW dimensions failed to have an effect on readability.
- PublicationOpen AccessDiferencias de género en la carrera académica en contabilidad en la universidad pública española(Universidad de Murcia, Servicio de Publicaciones, 2023) Duarte Atoche, M. Teresa; Rodríguez Castro, Paula Isabel; Laffarga Briones, JoaquinaEn las Universidades Públicas Españolas la carrera académica es prolongada en el tiempo pues, por término medio, un académico en Contabilidad logra la cátedra en 14 años desde que obtiene el doctorado. La evidencia empírica muestra diferencias entre las carreras académicas de hombres y mujeres. Las mujeres continúan estando infrarrepresentadas en la categoría de mayor rango y parece que existe lo que se ha interpretado en la academia como "tubería con fugas", es decir, a lo largo de la carrera académica las mujeres sufren mayor desgaste que los hombres. Nuestro trabajo tiene como objetivo analizar si en el área de Contabilidad de la universidad pública española existen diferentes velocidades en las carreras académicas entre hombres y mujeres y, de ser así, analizar en qué hito de la carrera comienza la fuga del talento femenino y qué factores familiares, institucionales o de producción investigadora lo explican. Para ello, hemos recabado mediante una encuesta los datos de 353 profesores y profesoras del área de Contabilidad de las universidades públicas españolas que abarca un horizonte temporal desde 1959 hasta 2019 y usamos modelos de probabilidad para explorar el tiempo de promoción y sus posibles variables explicativas. Los resultados indican que la trayectoria de hombres y mujeres académicas es similar hasta alcanzar la titularidad pero, sin embargo, la probabilidad de las mujeres para lograr la cátedra disminuye fuertemente con respecto a la de los hombres, reduciéndose significativamente el número de catedráticas frente a catedráticos. Asimismo, de los factores que pueden explicar este hecho, es la maternidad uno de los más relevantes.
- PublicationOpen AccessDo Industry Specialist Audit Firms Influence Real Earnings Management? The Role of Auditor Independence(Universidad de Murcia, Servicio de Publicaciones, 2023) Al-Qadasi, Adel Ali; Baatwah, Saeed Rabea; Ghaleb, Belal Ali; Qasem, AmeenIn this study, we provide empirical evidence on how the relationship between industry specialist auditors and real earnings management (REM) is moderated by the auditors’ independence. From a sample of Malaysian listed companies for the period 2009 to 2016, the results indicate that companies with specialist auditors are less likely to practise REM. However, this negative association is less pronounced when the independence of the specialist auditor is low, suggesting that the presence of economic bonding between the specialist auditor and the client may allow the auditor to become sufficiently lax to align with the interests of an economically important auditee. Our findings remain robust after controlling for endogeneity and self-selection bias and performing several further analyses. This study is the first to prove that auditor independence can moderate the effectiveness of industry specialist auditors in mitigating REM practices. The results have implications for policy makers to enhance the current regulation structure of auditing and accounting professions. The results also provide new insights into the association between audit quality, REM and auditor independence in an emerging economy.
- PublicationOpen AccessA review of the limitations of financial failure prediction research(Universidad de Murcia, Servicio de Publicaciones, 2023) Laitinen, Erkki K.; Camacho-Miñano, María-del-Mar; Muñoz-Izquierdo, NoraThe objective of this paper is to critically evaluate the main weaknesses associated with the limitations of financial failure prediction research studies. For more than 80 years, researchers have unsuccessfully studied ways to create a general theory of financial failure, which is useful for prediction. In this paper, we review the main boundaries of failure prediction research through a critical evaluation of previous papers and our own approach from the research experience. Our findings corroborate that these studies suffer from a lack of theoretical and dynamic research, an unclear definition of failure, deficiencies with the quality of financial statement data and a shortfall in the diagnostic analyses of failure. The most relevant implications for future research in this area are also outlined. This is the first study to analyse in deep the caveats of financial failure prediction studies, a crucial topic nowadays due to the hints of an economic crisis caused by the Covid-19 pandemic.
- PublicationOpen AccessRegulation, Supervision and Accounting Conservatism : the interaction of the three pillars of Basel II on the quality of reported earnings in worldwide banks(Universidad de Murcia, Servicio de Publicaciones, 2023) Díaz-Sánchez, Inmaculada; Martínez-Conesa, Isabel; Illueca-Muñoz, ManuelAccounting conservatism is a quality of earnings positively associated with the strength of banking regulation and supervision and also high market discipline, but there still remains the unresolved question of the way these three pillars of Basel II interact with each other. We analyse how regulatory and supervisory regimes in the banking industry clearly interact with market discipline measures, such as listing status, ownership, market concentration and disclosure requirements between ten years before Basel II fails, drawing upon data from 14,651 bank year observations from 54 different countries. According to our findings, there is a clear correlation between the strength of the enforcement of regulation and supervision and accounting conservatism success in countries where market discipline fails. That is to say, the supervisory power reinforces the effect of listing status, ownership and concentration on conservatism whereas the capital regulatory system mitigates the effect of market discipline on conservatism. We also evidence that in a powerful regulatory system, more disclosure requirements are associated in less conservatism policies in financial entities. Strong increases in regulation, its enforcement and supervisory power introduced in the Basel III mechanism is subject to the debate posed in this paper. The quality of accounting earnings can be improved to prevent bank failures through the application of strong Pillars I and II, i.e., regulation and supervision. Having said that, market discipline still remains a key factor in achieving financial stability.
- PublicationOpen AccessCommon distress and reorganization patterns by sector and country for SMEs in six European countries using PDFR(Universidad de Murcia, Servicio de Publicaciones, 2023) Tascón, María-Teresa; Laitinen, Erkki K.; Castaño, Francisco J.; Castro, Paula; Jokipii, AnnukkaThis study contributes to identifying common distress patterns in financial indicators by sector and country in Finland, France, Germany, Italy, Portugal, and Spain as well as ex-post signals of reorganization success. We use PDFR that provides a distance-to-failure measure and allows us to track the behavior of different features of the firm proxied by accounting ratios. Our results show that indicators of financial structure, followed by working capital, profitability on assets, margin over sales and cash flow to assets, are the most discriminant variables of failed SMEs across all sectors and countries analyzed. By contrast, during reorganization, return on assets and its components are the main initial drivers of recovery, whereas the financial structure factors show a progressive but slow recovery. Boosting and Z-scores are used for robustness.
- PublicationOpen AccessGender diversity in municipal governmental bodies and budgetary solvency(Universidad de Murcia, Servicio de Publicaciones, 2023) Cabaleiro, Roberto; Buch, EnriqueDiverse research has analysed the effects of gender in government on public budgetary outcomes using the gender bias approach – gender trait –; however, studies evaluating the gender effects of municipal governments on budgetary solvency using a gender balance approach – gender diversity – are scarce. Our objective was to determine whether gender diversity in Spanish municipal governments affects institutional budgetary solvency, taking into account that the mayor’s gender and the ideology of the government could impede visualizing the effects of diversity because they create heterogeneity. Using both static and dynamic panel data models on a sample of Spanish municipalities with more than 20,000 inhabitants, we found that gender diversity has a positive effect on budgetary solvency when the municipality has a male mayor. However, the effect of gender diversity is negative if the mayor is a woman, which could be explained by the different arguments provided by social identity or social categorization theories.