In this study, we investigate how country-level long-term orientation affects managers' willingness to engage in earnings management and choice of earnings management strategy. Using a comprehensive dataset of 47 countries for the period from 2003 to 2015, we find that firms in longterm oriented...

Passion - in the sense of fervent commitment to action - and compassion - understood as sensitive openness for social and ecological concerns - are not a sure formula for business success. Whether social or ecological entrepreneurs, who find themselves under pressure from market competition,...

Corporate Purpose as a Competitive AdvantageVicente Salas-FumásUniversity of Zaragoza March 2023AbstractThere is a widely held belief that capitalism delivers superior social outcomes if the reason why corporations come into existence, their purpose, is to create social value rather than to...

In this chapter we examine the role of the CFO in setting risk management strategy with respect to macroeconomic risk, in particular, and we consider the information requirements for setting a strategy that is consistent with corporate objectives. We argue that macroeconomic risk management...

In this chapter we examine the role of the CFO in setting risk management strategy with respect to macroeconomic risk, in particular, and we consider the information requirements for setting a strategy that is consistent with corporate objectives. We argue that macroeconomic risk management...

This study analyzes which types of firm-level shocks were associated with the centralization of strategic decision-making during the recession of 2008-09. We use a unique survey dataset of more than 14000 manufacturing firms from seven European countries which includes direct information on...

This paper deals with the impact of voluntary strategy disclosure in management reports on the cost of equity capital. Such an impact is not obvious, as investors might consider strategy information as “cheap talk” and therefore ignore it. We analyze a sample of 100 German listed firms from...

"Die traditionelle Budgetsteuerung ist überholt und verursacht mehr Schaden als Nutzen. Die klassische Budgetsteuerung ist zu zeitaufwändig, zu unflexibel, zu bürokratisch und verhindert heute die Nutzung des vollen Potentials eines Unternehmens". [Daum, H./2006]. Trotz dieser These findet...

With companies investing millions of rupees or dollars in marketing communication including advertising, it is but natural to examine its impact on the bottom line of the firm. With markets ruling the roost, practitioners and researchers have turned their attention towards examining the impact...