Browsing by Department "Accounting and Finance"

The purpose of this research paper to present the synthesized theoretical and empirical literature to help in the development of propositions and suggestions of a research agenda on the acceptance of ERP systems and their link with financial performance, the paper develops the technology acceptance model (TAM) to synthesize relevant literature and to develop proposition for future research agendas. The proposition and the research agenda will provide an adequate explanation of the acceptance of ERP systems, and their possible association with financial performance of organizations. The literature does provide a canon of acceptance of ERP systems in relation to financial performance. This research provides a positive association between the acceptance of ERP systems and financial performance. Also, the use of TAM theory provides further insight into identifying the adoption factors of ERP.

This study examines the interaction of accounting education, practice and the state and illustrates how global pressure is shaping this interaction. Review of documentary sources and semi-structured interviews are used in a country case study of Ethiopia to examine this interaction using the lens of structuration theory. Findings show that accounting education, professional qualifications, and company law underpinning accounting practice have been 'imported' from different western countries in isolated initiatives. As a result, accounting education and practice were not aligned, which in turn attenuated the ability of the two to strengthen each other. In the last two decades, global pressure has been driving reforms in accounting practice and education. The results suggest that accounting education, practice, and their interaction in developing countries could be better understood by examining them from the perspective of global trends and the actions of global stakeholders. To the knowledge of the researchers, this is the first study to employ the lens of structuration theory to unravel the complex interaction of accounting education, accounting practice, and the state in the context of globalisation.

One of the major challenges faced in the area of accounting for sustainability is the complexity and uncertainty of the subject matter, beginning with the lack of a clearly understood definition of sustainable development (SD) (Herath & Gamini, 2005). In most of the literature, SD is defined as "integrating the economic, social and environmental objectives of society, in order to maximize human well-being in the present without compromising the ability of future generations to meet their needs" (Organization for Economic Cooperation and Development (OECD), 2001, p.11; Pyle & Forrant, 2002, p.3). From the perspective of quality of human life, three dimensions could be considered: economic, ecological, and social (human). From this perspective, the economic criteria could focus on the maintenance of a constant stream of income. This aspect of economic or income sustainability is one of the important measures of SD that can be achieved through the implementation of the concept of environmental management accounting (EMA), however, as argued in this paper, it is still ignored. By taking an overview through the literature of accounting for business sustainability, the outcome of this paper indicates that the majority of literature on the financial or economic aspects of business sustainability focuses on the cost side and how to measure it either in monetary units or in non-monetary units while totally neglecting the revenue side either for business, environment, or society.

Accounting for sustainability is one of the intricate research area due to the uncertainty of the subject matter, mainly because the obscure understanding of sustainable development (SD) definition. SD is defined, in majority of the literature, as improving the three integral pillars of society (social, environmental and economic) continuously to meet not only the basic needs, but also to achieve the maximum prosperity for current as well as future generations. The three main dimensions of SD, from the human life quality perspective, are: economic, ecological, and social (human). The economic criteria, from this perspective, could focus on the maintenance of a constant stream of income. This aspect of economic or income sustainability is one of the important measures of SD that can be achieved through the implementation of the concept of environmental management accounting (EMA), however, as argued in this paper, it is still ignored. By taking an overview through the literature of accounting for business sustainability, the outcome of this paper indicates that the majority of literature on the financial or economic aspects of business sustainability focuses on the cost side and how to measure it either in monetary units or in non-monetary units while totally neglecting the revenue side either for business, environment, or society.

Purpose - This study aims to examine accounting professionalization in Ethiopia focusing on how the state, occupational group struggle and transnational accountancy bodies influence the realization of closure. Design/methodology/approach - A qualitative research approach is employed. Data were collected using document review and oral history approaches. Findings - Accounting professionalization in Ethiopia was initiated by the state to strengthen the country's financial system. Owing to a change of state ideology to communism in 1974, a strategy of developing accounting professionals as government-employed experts was pursued. The return to a market-oriented economy in 1991 has seen a trend towards a more autonomous accountancy profession. Inflow of UK capital in the early twentieth century and activities of the UK-based Association of Chartered Certified Accountants (ACCA) in recent decades have influenced Ethiopia's accountancy. Its professional and financial power has enabled ACCA to make arrangements with Ethiopian Professional Association of Accountants and Auditors (EPAAA) and consolidate its position in Ethiopia's accountancy by controlling EPAAA's member training and certification. Originality/value - The literature on accounting professional projects in developing countries has focused on imperialistic influence in former British colonies. The present study extends this literature by illustrating how British influence has continued to extend beyond Britain's former colonial possessions. This enables an understanding of the dynamics of accounting professional projects in the developing world with analytical dimensions building on the hitherto dominant lens of "formal" colonial connection.

Purpose: This paper proposes to synthesize the relevant and empirical literature on Corporate Social Responsibility (CSR) adoption, within the context of the corporate governance and other factors which influence the adoption. This paper focuses on the role of the diversity of the board of directors within a CSR and governance systems through a research framework. The paper also examines that role of transformational leadership at the chief executive level, which helps in the implementation of a socially responsible business. This leads to improved corporate financial performance, which then increases the adoption of corporate social responsibility. Design/ Methodology: This paper uses stakeholder theory and transformational leadership theories to present cannon for examination of a number of research propositions presented in the paper. This helps to identify a future research agenda within this area. Findings: A number of research propositions and research agenda are presented on the potential adoption of CSR literature, and the association it may have with the corporate financial performance. Originality/value: As the extant literature does not provide a canon of CSR adoption, the paper's originality is its argument that a positive association between adoption of CSR and financial performance could serve as an approach to assess adoption of CSR. Furthermore, the use of the two theories in combination provides additional insights into identifying the adoption of CSR and its link with the financial performance issues.

Research issues: Corporate Social Responsibility (CSR) has been given emphasis by literature, in particular, shows positive affect of organization on their stakeholders. Although CSR has been extensively discussed in the literature, CSR measurement is still problematic issue. A number of limitations are associated with a number of methods provides by literature utilized in measuring adoption level of CSR practices within the organization. This research seeks to provide original construct and scale measurement of adoption CSR practices, while also reflecting the business roles towards different stakeholders with respect to economic performance. Research Results: A qualitative interpretive research methodology was adopted, based on in-depth interviews conducted with the board members and executive's managers in two companies operating in Saudi Arabia, with the findings developed the new scale for measuring the adoption of CSR practices. The new construct and scale were developed by six-dimensional structure of CSR, measuring the companies' community, environment, shareholders, employees, customers, and supplier practices. Theoretical Implications: This study builds important contribution to CSR literature by developing a new construct and scale of adoption of CSR practices in developing country. This construct was developed based on the finding of qualitative case studies, in order to provide empirical evaluation of the adoption level of CSR practices in the Saudi listed companies. Therefore, this construct is a multidimensional construct that comprised the six CSR practices that communicated and engaged with six company's main stakeholders namely: environment, customer and product, employee, shareholders, community and finally supplier. Practical Implications: This study can improve board members and managers' awareness in how to evaluate CSR contributions within their organizations. A newly developed scale for the adoption of CSR practices can be considered as a broad self-constructed index consisting of six main stakeholders that covered 17 CSR practices. The implication of CSR self-constructed index has two practical contributions at organizational and national levels. At the organizational level, it helps directors and executives in Saudi companies listed in industrial sectors that have high sensitivity to CSR issues within their operational activities, in managing and rating the adoption level of CSR practices within their organization. Additionally, the developed self-constructed index generates significant CSR guidelines for those companies to formulate effective corporate practices on CSR issues.

This study aims to discover non-executive directors' competencies that important to improve their roles towards the adoption of Corporate Social Responsibility (CSR). To begin with, the review of the existing body of literature on the topic of Corporate Governance (CG) codes and the survey of numerous postulations offered is conducted. A qualitative interpretive approach is adopted, based on in-depth interviews conducted with board and management levels of the two companies operate in Saudi Arabia. The key outcomes of the study suggest that (i) NEDs' independence represents a typical practice in CG and; (ii) NEDs' competencies and roles represent a governance issue which needs to be addressed via CG code to protect the stakeholder groups. The findings imply a shift in the recent focus on developing and reforming CG Codes towards CSR orientation and the growing role of NEDs in stakeholder's protection. The key contribution of the study can be found in the enhancement of the current level of understanding of non-executive directors' competencies and role and the improvement of CG codes to address the issue of stakeholder engagement. The multiple-theoretical framework including aspects of resources dependence, stakeholder and resource-based view of the firm theories allows for the interpretation of the link between NEDs competencies and roles in the CSR context. Board members and managers can find this study useful in improving the election criteria of NEDs' appointing mechanisms. Additional implications relate to policy makers as the need for increasing the regulatory capacity and legal systems in the area of CG reform is highlighted. Stakeholder's pressures and forced and normative variety in particular have the potential to enhance the level of CSR adoption.

The purpose of this research paper to present the synthesized theoretical and empirical literature to help in the development of propositions and suggestions of a research agenda on the adoption of ERP systems and their link with financial performance, the paper develops the technology acceptance model (TAM) and the theory of reasoned action to synthesize relevant literature and to develop proposition for future research agendas. The proposition and the research agenda will provide an adequate explanation of the adoption of ERP systems, and their possible association with financial performance of organizations. The literature docs not provide a canon of adoption of ERP systems in relation to financial performance. This research provides a positive association between the adoption of ERP systems and financial performance. Also, the use of two theories together provides further insight into identifying the adoption factors of ERP.

Recognising corporate social responsibility as an important part of corporate governance, this paper examines changes in environmental reporting between 2004 and 2007 among Australian multinational companies (MNEs) using the Global Reporting Initiative (GRI) guidelines and explains the changes by company size, profitability, industry sector and changes within the guidelines. Twenty companies from the Australian SAM Sustainability Index (AuSSI) were examined and Wilcoxon matched pair signed ranked tests and Spearman correlation coefficients were used to assess changes in reporting between the two years. The findings show significant increases in reporting for energy; emissions, effluents and waste; overall; transport; water; materials and products and services. The majority of changes occurred in companies operating in environmentally sensitive industries and the rising disclosures for the water aspect were associated with large and profitable companies. A shift in emphasis from compliance and biodiversity aspects of environmental reporting to aspects associated with climate changes and resource preservation was evident. We argue this shift is in response to public expectations, enhanced image and competitive pressure rather than to changes in the GRI guidelines that lead to enhancing market value of the firm.

Purpose – The purpose of this paper is to synthesize relevant theoretical and empirical literature to develop propositions and suggest a research agenda on the antecedents and organisational performance implications of internal audit effectiveness. Design/methodology/approach – The paper employs institutional theory and Karl Marx's theory of the "circuit of industrial capital" to synthesize relevant internal audit literature to develop theoretically justifiable propositions and highlight an operational research agenda. Findings – Propositions and a research agenda are provided on potential antecedents of internal audit effectiveness and its possible association with company performance measured as rate of return on capital employed. Also, key variables are identified and operationalisation issues discussed. Originality/value – As the extant literature does not provide a canon of internal audit effectiveness, the paper's originality is its argument that a positive association between compliance with standards for the professional practice of internal auditors and organisational goal achievement could serve as an approach to assess internal audit effectiveness. Furthermore, the use of the two theories in combination provides additional insights into identifying the antecedents of internal audit effectiveness and its measurement.

Serial entrepreneurs are business owner-operators who commence, operate and dispose of a number of business ventures. Whilst must entrepreneurial activity is related to one specific venture, serial entrepreneurs progressively "work through" a variety of different enterprises over time. Although the existence of such continuous or habitual entrepreneurs has been occasionally noted. little is presently known about the nature of such enterprising individuals and their firms. This paper draws on responses by 199 micro-small firms in New South Wales, Australia, to construct a more detailed picture of serial entrepreneurs. It examines the background and characteristics of these owner-operators, some aspects of their current operations, and whether the businesses of these serial entrepreneurs are more likely to grow than other entrepreneurial ventures. The results indicate that serial entrepreneurs tend to be male, relatively well educated, aged between 30-49, and Australian-born. Many (just under half) come from a family with a prior background in business ownership, A third of them concurrently operate another business, and the majority have a strong growth orientation. Testing of data between serial and other entrepreneurs revealed some statistically significant differences between the two cohorts. Compared to other entrepreneurs, serial entrepreneurs are more likely to concurrently operate another business; less likely to operate their current venture as a home-based enterprise; and more likely to want to expand their business in future. Serial entrepreneurs, when compared to other entrepreneurs, also tend to be slightly older, are more likely to be male, and are more inclined to buy a business as a going concern.

Using the GRI guidelines this paper examines changes in reporting/disclosure for three main areas of sustainability disclosure (such as, environmental, social, economic, product responsibility, human right and labour practice and decent work categories) of Australian MNEs between 2004 and 2007. Based on non-parametric method of study, it provides evidence that most of the material changes in disclosure happened in environmental category than that of social, economic and other areas. While increased disclosure in specific environmental areas are worth reporting, it is of concern for not having similar improvement in other sustainability disclosure categories by Australian MNEs to ensure corporate social responsibility of corporate firms. The findings of this paper would provide insights to the policy makers to develop appropriate strategy for the creation of societal values and sustainable economic growth by the corporate citizens.

The manner in which the key managers of entrepreneurial firms perceive the environment of the firm has important implications for decisions regarding organizational structure, processes and performance. Entrepreneurial behavior has traditionally been characterized as one type of strategic response to uncertain environments. This research takes a unique position in exploring how the entrepreneurial orientation of the firm's key manager may in fact influence managerial perceptions of the environment. Utilizing survey data drawn from more than 800 key managers in three countries this study proposes and tests a model of perceived uncertainty. The results suggest that the greater the entrepreneurial orientation of the key manager the more likely he or she is to characterize the environment of the firm as uncertain. Although this relationship holds true in general the results also suggest that there are strong differences in the relationship across countries and industries and that certain firm characteristics have a potential impact on managerial perceptions.

Employing a simultaneous equations approach this paper models the ownership concentration and financial performance relationship. We document a 'Two-way' causal relationship for Bangladesh listed firms. Using an unbalanced pooled sample of 567 firm-years, the two-stage least square regression results suggest that both Tobin's Q and ROA, as performance measures, have a significant positive effect on ownership concentration. Similarly, shareholding concentration shows a positive significant impact on these performance measures. This implies that these variables interactively determined. A few other governance variables are also significant explanators. These results suggest that despite the institutional differences between Bangladesh and other developed economies there remains some similarity in internal governance mechanisms and agency problems.

Purpose – The purpose of this paper is to test whether dominant shareholder(s) of a firm enhance performance in Bangladesh and thus examines the arbitrary moves by the regulatory bodies, in the name of promoting "good corporate governance", to restrict ownership concentration. Design/methodology/approach – Building on the established literature, a simultaneous equations approach is applied to model the relationship between ownership concentration and performance and is tested on a sample of 567 observations on firms listed on the Dhaka Stock Exchange over a seven-year period. The two equations model consists of firm performance and ownership concentration as endogenous variables along with other governance variable. Findings – The results suggest a significant positive co-deterministic relationship between ownership concentration and firm performance indicating that ownership concentration and firm performance simultaneously impact each other. It suggests that the ownership restriction imposed by the Securities and Exchange Commission is unjustified and detrimental to firm performance/growth in emerging countries such as Bangladesh. Practical implications – This new evidence from an emerging market enhances our understanding of corporate governance in Asian countries. The study has implications for stakeholders, regulators and policy makers to revisit their attempt to limit founder-family ownership holdings. Instead, their aim should be to balance the home-grown unique features, such as a Top-1 dominant shareholder, with Western governance mechanisms. Originality/value – The paper is the first to consider Top 1 shareholder's ownership as the measure of ownership concentration, which is an important feature of the corporate sector in emerging markets. In emerging markets, founder-family ownership concentration acts as an alternative governance mechanism substituting for strong and effective legal backing and other market-driven monitoring mechanisms.

Purpose: This paper proposes to synthesize the relevant and empirical literature on Corporate Social Responsibility (CSR) adoption, within the context of the corporate governance and other factors which influence the adoption. This paper focuses on the role of the diversity of the board of directors within a CSR and governance systems through a research framework. The paper also examines that role of top management team, which helps in the implementation of a socially responsible business. This leads to improved corporate financial performance, which then increases the adoption of corporate social responsibility within the organization. Design/ Methodology: This paper uses stakeholder theory to present cannon for examination of a number of research propositions presented in the paper. This helps to identify a future research agenda within this area. Findings: A number of research propositions and research agenda are presented on the potential adoption of CSR literature, and the association it may have with the corporate financial performance. Originality/value: As the extant literature does not provide a canon of CSR adoption, the paper's originality is its argument that a positive association between adoption of CSR and financial performance could serve as an approach to assess adoption of CSR. Furthermore, the use of stakeholder theory provides additional insights into identifying the adoption of CSR and its link with the financial performance issues.

Purpose - This paper examines the interrelationships among functional area activities in their association with entrepreneurial strategy in a progressive textile manufacturing industry in China. Design/methodology/approach - The research is based on a sample of 248 small businesses in a textile manufacturing industry in Shaoxing, China. A questionnaire survey of owners/managers in the industry was carried out at a conference of the Shaoxing Textile Industry Association. Partial Least Square was used to analyze the data. Findings - The findings suggest that the pattern by which functional area activities that comprise entrepreneurial strategy are organized are similar in several respects to such strategies in Western economies. Networking features prominently alongside market-based activities of customer retention management and technology as determinants of entrepreneurial strategy in the Chinese textile manufacturing industry. The study also found that activities in these three functional areas mediate the association between other functional area activities such as HRM, operations, planning, and finance and entrepreneurial strategy. Research limitations/implications - Generalization of the findings is limited by the examination of small businesses in one industry sector. Future research is required to assess the application of the findings to other industry sectors. Practical implications - In a social-based system where relationships are important, the development and maintenance of network ties as well as attention to customers and innovation are critical to pursuit of entrepreneurial strategy. Originality/value - The study contributes to the limited existing knowledge on entrepreneurial strategy among small businesses operating in China.

This proposal is for a comparative study between companies of Saudi Arabia and Australia, examining the influence of corporate governance in both disclosure quality and financial performance. The study is designed to fill the gap in the literature by providing empirical support for recent arguments that corporate governance is related to financial performance and disclosure quality. This proposal thus develops two main hypotheses which will be measured and tested over the course of the study. The proposed method for testing the hypotheses is through simple and multiple linear regression analyses of data extracted from the financial statements of 200 companies, 100 from each country. This data will be supported by additional information from market reports and industry analysis where available and relevant.

This study proposes that decisions by owners and managers of small- to medium-sized enterprises regarding whether to adjust their overall governance in the form of equity-based or agreement-based alliances are significantly influenced by fundamental differences in how they view the uncertainty of their environments and their propensities towards risky and proactive behaviour. A number of propositions are tested using a model with data from 686 SMEs in Eastern Australia, Central America and Northern Europe. Results suggest that managers' perceptions of the uncertainty in their environments and their orientations towards risky and proactive behaviour do influence their choice of alliance structures but do so in differing and interesting ways across regions.

The paper argues that both legitimacy and stakeholder theories used together provide a better explanation of sustainability reporting among companies than one or the other theory used independently. Trends in financial and sustainability reporting by companies are discussed and the Global Reporting Index is justified as a preferred guideline for sustainability reporting. The two main theories (legitimacy and stakeholder), used in the literature to explain sustainability reporting among companies, are covered and their complementarity defended. A research proposal is described to test the contention that the two theories together explain better the sustainability reporting practices of companies than one or the other theory employed individually.

Purpose - The purpose of this paper is to examine the extent to which institutional norms determine attributes of internal audit practices and how institutional changes explain the development of these practices. Design/methodology/approach - The authors employed a qualitative research approach based on archival analysis and interview evidence. Findings - Findings indicate that regulation-based institutional norms explain the adoption of internal audit and the function's characteristics in Ethiopian organizations. Furthermore, innovative introduction of internal audit practices originate within individual organizations and eventually get institutionalized through diffusion. Such innovations are associated with organizational size, top management characteristics, internal audit advancement in technology, and exogenous input from the external environment. Widely accepted internal audit practices, as institutional norms, are not always taken-for-granted at the level of individual organizations. The institutional change perspective enables explaining how new internal audit approaches are introduced to supplant old ones. Originality/value - This study theorizes the development of internal audit practices from an institutional change perspective. Being the first study to do so, it contributes to the understanding of key drivers of institutional change that initiate new institutional norms that foster the development of internal audit through introduction and diffusion of new audit practices as old ones are deinstitutionalized.

This book is the second of a series of annual publications from the Small Enterprise Association of Australia and New Zealand (SEAANZ). It is targeted at all those with an interest in the small to medium enterprise (SME) sector, in particular those interested in how the digital economy is affecting the sector. The book comprises ten chapters, organised into two parts. This first chapter provides an overview of the digital economy in Australia and New Zealand and the business models used for transacting on the internet. The chapter leads to the first part of the book which introduces readers to the players in the digital economy, their roles and how effectively these roles are carried out. The second part of the book examines the extent of SME engagement in the digital economy.

This study investigates the association between the proxies of disclosure quality and earnings management in the UK listed companies. Building on extant literature, it contributes to providing new insights on simultaneous relationship between disclosure quality and earnings management while controlling for internal governance mechanisms. Unlike prior studies, this study also examines the potential substitutive or complementary effects of disclosure quality and internal governance in explaining earnings management. The evidence suggests an inverse bi-directional relationship between disclosure quality and earnings management, implying that the higher the disclosure quality, the lower the earnings management and vice-versa. Moreover, the outperformance of disclosure quality over internal governance mechanisms in curbing earnings management is documented indicating substituting effects between disclosure quality and corporate governance mechanisms. These findings are consistent with the premise that in the presence of high quality disclosure regime, investors are well/better informed about all material activities of the companies that provide managers less incentive to manipulate earnings at the costs of investors. These results suggest strengthening of internal governance mechanisms to protect investors from potential earnings management as well as upholding the disclosure quality in firms' settings.

In excess of 1,500 firms have listed publicly on the Shanghai and Shenzhen stock exchanges in China since 1990. With close to 20 years of unique IPO activity, China represents a rich source of data to explore the IPO aftermarket performance. The sample of this study includes 311 IPOs issued from 1999 to 2001. The period is studied because it was the most dynamic phase of IPO issues in the Chinese market in recent times after which the market subsequently became extremely volatile. The results of the study show that firms with higher initial IPO returns are valued more highly by investors, and are expected to provide superior returns in the long-run. The ownership structure has a bearing on the corporate governance of the firm and its objectives. Accordingly, the market in China values legal person and foreign ownership more than other forms of ownership and expect these to enhance performance long-term. Management ownership has a positive influence on performance as it related to State ownership, but not to legal person ownership. On the other hand, State ownership was negatively related to performance. The findings also show that the growth potential of a firm has a significant bearing on the long run performance of IPOs in China. Larger firms are considered more highly by the market in IPOs in China. A number of other variables, including aspects of corporate governance, are applied to the study and their results are reported.

This study aims to explore the board monitoring roles in Corporate Social Responsibility (CSR) context and provide better understanding of how directors perform their monitoring role in order to facilitate the integration of CSR into the Corporate Governance (CG) structure. To achieve these objectives, this study adopted a qualitative case study, by conducting in-depth interviews with participants at various levels of board and management in the two Saudi companies. The findings revealed that there six board monitoring roles are crucial to improve the integration of CSR into governance structure. Based on the findings, theoretical proposition have been developed to direct further research on the CG and CSR topics. With growing of board of directors' role in protecting stakeholders, the study's findings are important to be considered in the reforming CG Codes, particularly in the context of protecting stakeholders' interests. This practical implication is useful to alert the policy makers to reform CG codes regulatory and judicial systems in order to protect stakeholders' interests and meet their expectations from the organization.

The question whether corporate governance mechanisms matter for firm's financial performance is getting momentum increasingly in the business and academic arena across the world due to the ongoing globalization process. This Paper analyses empirically governance control mechanisms, in particular Top 1 shareholder's ownership and firm performance relation in Bangladesh. Appropriate methodology (e.g., quadratic-form linear regression and two-stage least square regression model) is used on an unbalanced pooled sample of 'listed firms' with a view to modelling corporate governance mechanisms for Bangladesh corporate firms. In the context of dearth of research focusing on Bangladesh in this field, this study offers new insights into corporate governance practices in Bangladesh. Consistent with prior research, it examines ownership-performance interactions based on exogeneity and endogeneity assumption of ownership and performance variables. OLS regression documents a strong positive linear and weak non-linear relation between Top 1 shareholder's ownership and performance (market-to-book value of equity). On the other hand, 2- SLS regressions also support positive relationship between Top 1 shareholder's ownership and performance and their simultaneity. That is, a bidirectional or 'two-way' causal relationship between them is established under 2-SLS framework when endogeneity of ownership is controlled for. Following recent literature, this study endorses such bidirectional relationship between ownership and performance. A few other governance and control variables also have effect consistent with the literature. These results suggest directly strengthening of 'internal control mechanisms' and indirectly 'external sources of discipline' for corporate listed firms in Bangladesh to ensure accountability and transparency and to cope with the ongoing globalization and business development.

The strategic importance of the state owned enterprises (SOE) sector to the Chinese economy cannot be underestimated and the success of SOE reform is a significant factor in China's future economic prosperity. The dilemma facing state authorities is to develop free market corporations while at the same time coping with potentially high unemployment and a range of equity and social justice issues. This paper discusses the present move to divest state holdings of listed state controlled firms and offers analysis as to the way forward within the current environment in China. Within this context, the literature is reviewed regarding various ownership types in China to determine if they contributed to the performance of listed firms. State ownership is generally negatively correlated to performance. Conversely, Legal Person ownership positively influences performance. Other forms of private ownership are generally positively correlated to performance, with institutional ownership showing significant promise. Consequently, the divesture of state ownership is recommended and could be accomplished over four tranches. The State could divest its ownership by auction to strategic investors, both domestic and foreign, and in the next tranche an auction to the broad populace through units in mutual funds. The final proposed tranche being a distribution to nationwide pension funds to support retirement schemes, which should be made on a national scale. Finally, listed firms should also issue shares as rights issues to offer present shareholders protection from dilution.

Enterprise resource planning (ERP) systems are highly comprehensive and complex software packages designed to integrate business processes and functions. Implementation efforts in the past have encountered numerous practical difficulties, resulting in the partial or even complete failure of ERP systems to deliver expected benefits. Ongoing research is aimed at addressing these challenges, as substantial financial and operational losses are incurred when ERP systems fail. Two particular factors contributing to failure have emerged from the existing body of research: insufficient knowledge, expertise and training necessary for ERP systems implementation; and managerial problems relating to change management and the underlying need to address employee resistance to change. Essentially, implementation of an ERP system affects job content, control, power and decision-making processes that may result in employee resistance to such significant changes. Numerous studies have examined the factors shaping user acceptance of ERP systems. The present study critically investigated factors shaping ERP systems acceptance and the resulting improved financial performance in the context of Saudi Arabian listed companies. The study developed and assessed a conceptual framework based on empirical analysis and validation of the developed enterprise resource planning acceptance model. The main goals of the study were to assess the applicability of the technology acceptance model (TAM) in the studied context and to evaluate the relationship between user acceptance of ERP systems and improved financial performance.

Disclosure is an important communication channel that can enhance corporate transparency and accountability and improve engagement with numerous stakeholders. Corporate environmental disclosure has garnered attention globally in recent years across multiple stakeholders groups including businesses, investors, watch groups and legislative branches of governments etc. for its far-reaching social and economic implications. It has become a major challenge for business organizations to address and deal with environmental issues, in particular for multinational enterprises as part of their legitimacy and meeting stakeholders' expectations. Again, the need for stakeholders' response to corporate environmental reports has been reiterated in extant literature; however there remains lack of adequate response from stakeholders for the inability for corporations to identify specific environmental issues that stakeholders expect companies to disclose to assure them of corporate legitimacy. To respond to this gap, this study contributes to knowledge by highlighting specific areas of importance which companies in both developed and emerging economies can address in order to encourage report users and stakeholders to positively respond to their assured environmental reports. This study, therefore, focuses on environmental disclosure in multinational companies in both developed (Australia and United Kingdom) and emerging (South Africa) economies. Building on both legitimacy and stakeholders' theories and Global Reporting initiative (GRI) disclosure guidelines (G3), the study applies hierarchical regression modelling to examine the influences of stakeholder, legitimacy, financial and demographic variables on the 'preservation', 'responsibility' and 'initiatives' aspects of environmental disclose of 67 companies operating in these three countries over a period of two years from 2008 to 2009. Empirical results indicated that return on assets and industry sector were significantly predictive of both preservation and responsibility components. Again, firm age was predictive of preservation and initiatives components, while assurance was predictive of initiatives and responsibility components. On the other hand, firm size and board structure were predictive of only the initiatives component and not the preservation and responsibility components. However, diversification, ownership, internal policy, other financial variables appear to have no influence on any environmental components. These findings have implications for companies, investors, policy makers and stakeholders at large. Environmentally sensitive companies could be encouraged to allocate more resources in order to increase their environmental activities and disclosure. From a policy perspective, the results could form part of the inputs to be considered in the future GRI guidelines. Similarly, policy makers also can take note in formulating environmental policies to address both social and economic implications.

The purpose of this paper is to evaluate the board roles that make a board effective in the performance of adopting corporate social responsibility (CSR) practices. This paper examines directors' perceptions of the three main roles: monitoring, service, and strategic, which provide tools for critically understanding how the board adds the value in moving the organization towards more CSR practices. The stakeholder theory is used to distinguish the influence of the three main roles on the adoption of CSR practices. Primary data were collected for this research by conducting structured questionnaires with a sample of 461 directors from Saudi listed companies for study purpose. The results show that an appropriate mix of directors' roles and the development of sound board monitoring and service roles are the most crucial determinants of CSR adoption in Saudi listed companies. As the extant corporate governance and CSR literatures do not provide a clear perspective with contradictory outcomes about board roles in influencing CSR practices, the originality of this research is its contribution by evaluating the directors' perceptions of developing a direct relationship between the board roles and the adoption of CSR practices. Furthermore, the use of the stakeholder theory provides additional insights into identifying the most influential board role factors enhancing stakeholders' expectations of CSR practices.

Purpose: The purpose of this paper is to provide understanding in evaluating the board roles that make a board effective in the performance of adopting the CSR practices. This paper examining directors' perception in three main roles: Monitoring, Service and Strategic, which provide tools for critically understanding how the board adds the value in moving the organization towards more social responsible practices. The Stakeholder theory is used to distinguish the influence of the three main roles in adopting of CSR practices. Design/ Methodology: Primary data was collected for this research. Primary data was collected by conducting structured questionnaires with a sample size of 461 directors from Saudi listed companies for the purpose. Findings: The results show that an appropriate mix of directors' roles and the development of a sound board monitoring and service roles are most crucial determinants of adopting CSR in Saudi listed companies. Originality/value: As the extant corporate governance and corporate social responsibility literatures does not provide a clear perspective with contradictory outcomes about board roles in influencing CSR practices, the paper's originality is its contribution by evaluating the directors' perception of developing the direct relationship between the board roles and adopting of CSR practices. Furthermore, the use of the Stakeholder theory provides additional insights into identifying the most Board Role's factors enhancing stakeholder expectation of CSR practices.

Previous investigations have detected a directional trend in the normalized difference vegetation index (NDVI) of pastures around scattered paddock trees and identified shade from the tree as the most likely causal factor. This study uses a field experiment to quantify the effect of varying levels of shade on the above-ground biomass and NDVI of three grass species native to Australia (Microlaena stipoides, C₃, shade tolerant; Austrodanthonia richardsonii, C₃, prefers full sunlight, and Chloris ventricosa, C₄, prefers full sunlight) in different seasons. The study demonstrates that shade had little influence on the above-ground biomass of C₃ species but significantly reduced biomass in the C₄ species. Until early winter, the NDVI of each species was generally significantly higher in all shaded treatments than in the no-shade treatment. This suggests that shaded plants retained a higher proportion of green biomass and/or changed leaf shape, increased leaf area and chlorophyll content. Regardless, although not proven in this experiment, it is likely shade prolonged the retention of green plant material into mid to late winter. Overall, this experiment explains the directional trends in NDVI around scattered trees found in previous work and suggests that shade from scattered trees prolongs green pasture production in a range of native grass species, without loss of C₃ pasture biomass.

This paper explores changes in environmental reporting among Australian MNEs between 2004 and 2007, using the GRI guidelines, and explains how GRI transformation (from G2 to G3) leads to changes in environmental disclosure aspects along with their association with company size, profitability, industry sector. Applying Wilcoxon matched pair signed ranked and Spearman rank correlation tests, twenty companies from the Australian SAM Sustainability Index (AuSSI) are examined to identify the extent of changes on specific aspects of environmental disclosure. The findings of the paper document a significant increase in environmental reporting in Australian companies. In particular, reporting has increased for energy, emissions and environmental management followed by water, overall, materials, transport and product/ services aspects. However, a shift in emphasis from compliance and biodiversity aspects associated with climate changes and resource preservation is also evident. Again, the majority of changes occurred in companies operating in environmentally sensitive industries with industry sector having significant relationship with a few environmental disclosure aspects, the study shows no significant effect of company size and profitability on different environmental disclosure aspects. These evidences indicate that external forces (such as, legislation, industry sensitiveness to environment, and stakeholder awareness and pressure) rather than internal factors are more effective to influence and determine environmental disclosure in Australian companies.

ERP systems have become crucial for the organisations in present day context. The organisations in this competitive marketplace are required to adopt advanced techniques for improvement of their overall work practices. However, incorporation of technology may be opposed by the employees due to their lack of understanding of the technology or its associated benefits. The research here examines how user training and education, and perceived benefits for users influence the acceptance of ERP systems within the organisations. Primary data has been collected from the organisations listed on Saudi Arabian exchange. The responses have been collected and represented in the form of tables. Additionally, t-test has been conducted to answer the research hypotheses formed for this research. The results suggest that the employees consider it worthwhile to have appropriate training and education program for the employees and the benefits involved with the ERP systems should be shared as well, to encourage employees for acceptance of the ERP systems.

The main purpose of this study is to investigate the effects of user training and education and perceived usefulness on the ERP systems acceptance and the contribution of the ERP systems towards the improved financial performance of Saudi firms. The survey is conducted with the ERP users, which are working in the Saudi based companies. The ERP users which are selected for the survey having been using the ERP modules for various tasks including finance and accounting, material management, human resource management, quality management and sales and distribution. The research findings show that training and perceived usefulness both have a positive relation with the acceptance of the ERP systems.

This study explores internal audit (IA) practices in selected Ethiopian organizations to identify factors associated with attributes of IA departments. Analytical questionnaire survey responses of 188 IA directors and staff from Ethiopian government ministries, state-owned enterprises and private companies were used. Canonical analysis results show that IA proficiency, scope of IA work and quality of IA planning and execution are higher in organizations where organizational policy authorizing IA is clearly defined, organizational risk exposure is high and internal audit's linkage with external audit is strong. The findings suggest that in organizations that are exposed to high risk, management tends to appreciate IA's assistance in managing risk and thus strengthens IA. Results also suggest the importance of internal and external audit linkages and IA charter (or similar organizational policy) to strengthen IA. The study provides further evidence of differences in IA attributes between public and private sector entities.

Purpose - The purpose of this research is to enhance understanding of corporate governance (CG) in integration of corporate social responsibility (CSR) in order to improve the corporate financial performance that increase the adoption of CSR factors in Saudi listed companies. Design/methodology/approach - This research conceptualize the model of corporate governance and the associated factors influencing of CSR adoption. It concentrates on the integration of CSR into governance systems through a framework as a process-based CG system and examine the role of transformational leadership of CEO for socially responsible business. The research develops a comprehensive interview and survey that enable companies to evaluate their promise to integration of corporate social responsibility. Findings - The paper will demonstrate that diversity of board of directors has positive influence of integration of CSR into governance system. This is also well-matched with the new corporate social models, in which shareholder, the public, customers, employees and associated companies have a mutual impact on management. The role of transformational leadership plays a significant role in integration of corporate social responsibility into business strategy. In this respect, transformational leader seems to be more effective to improve the corporate financial performance, compared with manager in integration of CSR. The paper recommends that Saudi organizations should evaluate their CG capabilities towards CSR, based on a proposed interview and survey in order to drive excellence in CSR. Originality/value - The research provides a comprehensive study to assist understand essential factors of CG, CSR and leadership proposes a new interview and survey to Saudi companies for evaluating how far they are able to move towards socially responsible organizations.

This study seeks to examine the factors which affect effectiveness and potential of ERP adoption in Saudi Arabia. This will be archived through a qualitative and quantitative approach that investigates publicly listed companies in Saudi Arabia, and particularity focuses on Saudi Arabia Basic Industries Corporation (SABIC). This study will determine the best practice in achieves optimised adoption of an ERP within that business and cultural setting. In doing so this study will identify issues particular to that setting and assist in the formulation of adoption plans to assist in the measured of finical performance of Saudi Arabian publicly listed companies.

The purpose of this research paper to present the synthesized theoretical and empirical literature to help in the development of propositions and suggestions of a research agenda on the acceptance of ERP systems and their link with financial performance, the paper develops the technology acceptance model (TAM) to synthesize relevant literature and to develop proposition for future research agendas. The proposition and the research agenda will provide an adequate explanation of the acceptance of ERP systems, and their possible association with financial performance of organizations. The literature does provide a canon of acceptance of ERP systems in relation to financial performance. This research provides a positive association between the acceptance of ERP systems and financial performance. Also, the use of TAM theory provides further insight into identifying the acceptance factors of ERP.