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A multi-dimensional ethical approach to accounting and reporting practices
13-26Views:150Purpose – The purpose of this research is to find out the multi-dimensional ethical approach to accounting and reporting practices going on in India and abroad. What has been the shift in Reporting Practices by Indian companies? What drives the Indian companies to report on the non-financial matters?
Design/methodology/approach – This paper mainly focuses on the inclusion of Non-Financial Matters in the Corporate Annual Reports. An Empirical Survey was carried out and the questionnaires were administered to 122 respondents comprising of 75 academicians and 47 chartered accountants. This paper compares the perceptions of academicians and accounting professionals on the ethical reporting practices of the Indian companies.
Findings – The results were tested using the t-test analysis. The research suggests that more companies should report on their environmental, social, and corporate governance performance and find a way to express them in their Annual Reports and the reporting of data regarding the carbon emissions, energy use, pollution, impact on the local economy, etc., should be made mandatory for companies.
Research limitations/implications – The research included respondents who are currently living in Delhi. For more generalized opinion nationwide survey can be carried out. Another important category of stakeholder for judging the usability of Corporate Annual Reports could be the Institutional Investors.
Practical implications – The results of this study would help the policy makers in framing the guidelines for standardized annual reports, synergizing social and business interest needs on top priority. Corporate philanthropy needs to transform into the realm of core business and corporate social responsibility. Integrated reporting could pave the way for synthesizing financial and non-financial reporting into one form and give a holistic view of companies’ strategies to its stakeholders incorporating new dimensions of IFRS.
Social implications – More emphasis on Non-financial matters will certainly contribute in making the corporates more responsible to the society, environment, and to the future generations. -
Investment analysis of plum brandy production – methodology approach
103-105Views:151The major prerequisite of successful entrepreneurship venture is quality of decision-making process. Decision in investment is the most important financial decision. It is a part of both long-term business planning process and strategic business definition. Using available investment appraisal methods, entrepreneur should make positive or negative investment decision. Within the development of the economic theory and the practice many of methods made decision-making process rational and gave the scientific and practical base for successful project evaluation.
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European traditional food producers and marketing capabilities: An application of the marketing management process
41-46Views:145The purpose of this paper is to evaluate the marketing management capabilities of SMEs producing traditional food products, in order to analyse the market orientation of SMEs in the food industry. Following the theoretical approach of Market Orientation, our analysis is based on an assessment of the marketing management process. The methodology refers to a survey developed through a questionnaire published on the web, and a sample of 371 firms based in Belgium, Italy, Spain, the Czech Republic and Hungary was used in the analysis. Cluster analysis was applied to find the different levels of market orientation of the firms. The results revealed a certain lack of appropriate skills in marketing management in the firms of the sample, confirming the evidence found in economic literature concerning SMEs. Nevertheless, cluster analysis outlined a group of firms with good marketing capabilities and market oriented, and these represent a great part of the sample (40%). With regard to the stages of the marketing management process, the most problematic are those of planning and implementation, and control and evaluation, highlighting the difficulties SMEs encounter in carrying out coordinated marketing; which appears to be generally characterised by poor organisational capacity.
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More insurance subsidies for European farmers – is it needed?
33-38Views:160In addition to traditional sources of uncertainties, such as market price volatility and animal and plant health-related risks, the impacts of climate change have recently become a major concern in the agricultural sector throughout the world. Insurance has been commonly proposed as a key instrument in farm risk management, and agricultural insurance schemes have become more widespread both in developed and developing countries. We conducted a case study in the UK to investigate farmers’ risk perception and willingness to pay for crop insurance by using contingent valuation method (CVM). Similarly to the experience from developing countries, we found that farmers are less willing to pay for insurance, however they do take actions to reduce their risks. While these results suggest that the provision of premium subsidies to European farmers can be justified; in order to avoid counter-productive policy outcomes, one may consider the introduction of a risk-based approach in agricultural risk management.
JEL classification: Q14
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A Quantitative Assessment of the Rurality and an Efficiency Analysis of Emigration in Romania
39-46Views:206In Romania, as in many other Eastern European countries, the early 1990s were marked by a significant emigration from the countryside as a consequence of the transition from a centralised economy to an open one and due to key changes in the political framework. The permanent emigration has predominantly been concentrated in rural areas where multiple socio-economic variables such as GDP per capita, unemployment, and public financial subsidies aimed at supporting people at risk of severe deprivation and poverty have all had a direct effect on rural depopulation. The rurality is a complex theoretical construct comprising many items and variables and is, therefore, difficult to define in a concise manner. The aim of this paper is to assess the evolution of emigration in Romania between 2001 and 2016 through a quantitative approach, estimating an index of rurality for the same period composed of a set of socio-economic variables having a direct or indirect nexus to it. In the first phase of research, a matrix of correlation and a multiple regression model has been used in order to estimate the direct links among all investigated variables. Following the quantitative methodology, in the second phase Partial Least Square Structural Equation Modelling (PLS-SEM) has been used in order to assess the main cause-effect relationships among a few selected endogenous variables and a set of socio-economic items. Furthermore, using a non-parametric Data Envelopment Analysis (DEA) output-oriented model, this research has assessed the efficiency in terms of permanent emigration from Romania estimated as an output to minimise and not as an output to maximise, as investigated by traditional efficiency approaches. In terms of efficiency, financial subsidies allocated by national authorities and the level of per capita Gross Domestic Product have acted directly on the level of emigration. The index of rurality in 2016 has been influenced in particular by he pluriactivity in farms in terms of agritourism, the dimension of farms in terms of land capital endowment, and the level of GDP per capita.
JEL Classification: Q10; Q18
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Total Quality Management in the food industry – Current situation and potential in Germany
83-87Views:473The requirements in terms of information availability, risk precaution and control in the food industry continue to increase. In this context the interest of companies in the Total Quality Management (TQM) approach is also increasing. This development attracts notice to Business Excellence and connected systems. Similarly, various quality management tools and techniques are available. In this regard a research project analyzed to what extent the companies in the food industry apply different activities of the TQM scheme. The research calculates the importance that the companies attach to different requirements of TQM and how they implement them. Additionally, statistical analysis provides evidence that there is a positive correlation between the implementation of the activities of TQM and the medium- to longterm success of a company. In this article the methodology and major findings of this research project are presented.
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