The impact of litigation risk on corporate prospective disclosure : a review of the empirical literature

We review the literature on the impact of litigation risk (a form of external governance) on corporate prospective disclosure decisions as reflected in management earnings forecasts. From this analysis we identify four key areas for future research. First, litigation risk warrants more attention from researchers; currently it tends to be treated as a secondary factor impacting MEF decisions. Second, it would be informative from a governance perspective for researchers to explore why litigation risk has a differential impact on MEF decisions across countries. Third, understanding the interaction between litigation risk and forecast/firm-specific characteristics is important from management, investor and regulatory perspectives but is currently under-explored Last, research on the litigation risk and MEF attributes link is piecemeal and incomplete, requiring more integrated and expanded analysis.

Engaging complexity through collaborative brand design

In this research we used inductive reasoning through design to understand how stakeholders in the Waterfall Way (New South Wales, Australia) perceive the relationships between themselves and the place they live in. This paper describes a collaborative design methodology used to release information about local identities, which guided the regional brand exercise. The methodology is explicit about the uncertainties and complexities of the design process and of its reception system. As such, it aims to engage with local stakeholders and experts in order to help elicit tacit knowledge and identify system patterns and trends that would possibly not be visible if a top-down expert-based process was used. Through collective design, local people were drawn together in search for a symbol to represent the meaning attached to their places/region in relation to sustainable tourism activity.

Exploring a functional approach to attitudinal brand loyalty

What psychological function does brand loyalty serve? Drawing on Katz’s (1960) Functional Theory of Attitudes, we propose that there are four functions (or motivational antecedents) of loyalty: utilitarian, knowledge, value-expressive and ego-defensive. We discuss how each function relates to the three dimensions of loyalty (i.e. emotional, cognitive, and behavioural loyalty). Then this conceptualisation of brand loyalty is explored using four consumer focus groups. These exploratory results demonstrate that the application of a functional approach to brand loyalty yields insights which have not been apparent in previous research. More specifically, this paper notes insights in relation to brand loyalty from a consumer’s perspective, including the notion that the ego-defensive function is an orientation around what others think and feel. This creates the possibilities for future research into brand loyalty via social network analysis, in order to better understand how the thoughts of others affect consumers’ loyalty attributes. --------------------------------------------------------------------------------

Policy measures for creating an integrated and brand-focused innovation system for film industries in shadow nations : an application to Australia's national film industry

Shadow nations face particular problems in constructing competitive film industries. Shadow nations refer to nations whose relative competitiveness suffers from easy product substitutability by products initiated, produced and distributed by powerful actors, such as media conglomerates located in Hollywood. The dominant literature has so far neglected the developing policy recommendations for dealing explicitly with the challenges of shadow nations. This paper aims to develop and apply a normative model for the development of film industries in shadow nations. The model integrates insights from innovation system studies and place branding. The developed model is applied to the Australian film industry as Australia represents a typical shadow nation within the film industry.

Corporate social responsibility–oriented compliances and SMEs access to global market : evidence from Bangladesh

The convergence of corporate social responsibility (CSR) and corporate governance has immense impact on the participants in global supply chains. The global buyers and retailers tend to incorporate CSR in all stages of product manufacturing within their supply chains. The incorporated CSR thus creates the difficulty to small- and medium-sized manufacturing enterprises (SMEs). Incompetence in standardized CSR practices is an important issue that causes SMEs either losing their scope to access global market directly or serving as subcontractors to large enterprises. This article explores this issue by focusing on Bangladeshi SMEs under the CSR requirement of the important global buyer.

The development of a model to measure destination brand performance across travel contexts

The field of destination image has been widely discussed in the destination literature since the early 1970s (see Mayo, 1973). However the extent to which travel context impacts on an individual’s destination image evaluation, and therefore destination choice, has received scant attention (Hu & Ritchie, 1993). This study, utilising expectancy-value theory, sought to elicit salient destination attributes from consumers across two travel contexts: short-break holidays and longer getaways. Using the Repertory Test technique, attributes elicited as being salient for short-break holidays were consistent with those elicited for longer getaways. While this study was limited to Brisbane’s near-home destinations, the results will be of interest to destination marketers and researchers interested in the challenge of positioning a destination in diverse markets.

Modeling destination brand equity in an emerging long haul market

The destination branding literature emerged as recently as 1998, and there remains a dearth of empirical data that tests the effectiveness of brand campaigns over time. This paper reports the results of an investigation into consumer-based brand equity for Australia as a long haul destination in an emerging South American market. In spite of the high level of academic interest in the measurement of perceptions of destinations since the 1970s, few previous studies have examined perceptions held by South American consumers. Findings suggest that destination brand awareness, brand image, and brand value are positively related to brand loyalty for a long-haul destination. The results also indicate that Australia is a more compelling destination brand for previous visitors compared to non-visitors.

Measuring a destination’s brand equity between 2003 and 2012 using the consumer-based brand equity (CBBE) hierarchy

Given the increasing investments being made in brand development by destination marketing organisations (DMO) since the 1990s, including rebranding and repositioning, more research is needed to enhance understanding of how to effectively monitor destination brand performance over time. This paper reports the results of a study of brand performance of a competitive set of destinations, in their most important market, between 2003 and 2012. Brand performance was measured from the perspective of consumer perceptions, based on the concept of consumer-based brand equity (CBBE). A structured questionnaire was administered to different samples in 2003, 2007 and 2012. The results indicated minimal changes in perceptions of the five destinations over the 10 year period. Due to the commonality of challenges faced by DMOs worldwide, it is suggested the CBBE hierarchy provides destination marketers with a practical tool for evaluating brand performance over time; in terms of measures of effectiveness of past marketing communications, as well as indicators of future performance. In addition, and importantly, CBBE also provides transparent accountability measures for stakeholders. While the topic of destination image has been one of the most popular in the tourism literature, there has been a paucity of research published in relation to the temporal aspect of consumer perceptions. This is a rare investigation into the measurement of perceptions of destinations over a 10 year period.

Corporate commitment to sustainability : is it all hot air? An Australian review of the linkage between executive pay and sustainable performance

Across time, companies have increasingly made public commitments to sustainable development and to reducing their impacts on climate change. Management remuneration plans (MRPs) are a key mechanism to motivate managers to achieve corporate goals. We review the MRPs negotiated with key management personnel in a sample of large Australian carbon-intensive companies. Our results show that, as in past decades, the companies in our sample have MRPs in place that continue to fixate on financial performance. We argue that this provides evidence of a disconnection, or ‘decoupling’, between the sustainability-related rhetoric of the sample companies, and their ‘real’ organisational practices and priorities.

Regulating for corporate human rights abuses : the emergence of corporate reporting on the ILO’s human rights standards within the global garment manufacturing and retail industry

Despite the ubiquitous nature of the discourse on human rights there is currently little research on the emergence of disclosure by multinational corporations on their human rights obligations or the regulatory dynamic that may lie behind this trend. In an attempt to begin to explore the extent to which, if any, the language of human rights has entered the discourse of corporate accountability, this paper investigates the adoption of the International Labour Organisation's (ILO) human rights standards by major multinational garment retail companies that source products from developing countries, as disclosed through their reporting media. The paper has three objectives. Firstly, to empirically explore the extent to which a group of multinational garment retailers invoke the language of human rights when disclosing their corporate responsibilities. The paper reviews corporate reporting media including social responsibility codes of conduct, annual reports and stand-alone social responsibility reports released by 18 major global clothing and retail companies during a period from 1990 to 2007. We find that the number of companies adopting and disclosing on the ILO's workplace human rights standards has significantly increased since 1998 – the year in which the ILO's standards were endorsed and accepted by the global community (ILO, 1998). Secondly, drawing on a combination of Responsive Regulation theory and neo-institutional theory, we tentatively seek to understand the regulatory space that may have influenced these large corporations to adopt the language of human rights obligations. In particular, we study the role that International Governmental Organisation's (IGO) such as ILO may have played in these disclosures. Finally, we provide some critical reflections on the power and potential within the corporate adoption of the language of human rights.

Environmental incidents in a developing country and corporate environmental disclosures : a study of a multinational gas company

Purpose – The purpose of this paper is to examine the environmental disclosure initiatives of Niko Resources Ltd – a Canada-based multinational oil and gas company – following the two major environmental blowouts at a gas field in Bangladesh in 2005. As part of the examination, the authors particularly focus on whether Niko's disclosure strategy was associated with public concern pertaining to the blowouts. Design/methodology/approach – The authors reviewed news articles about Niko's environmental incidents in Bangladesh and Niko's communication media, including annual reports, press releases and stand-alone social responsibility report over the period 2004-2007, to understand whether news media attention as proxy for public concern has an impact on Niko's disclosure practices in relation to the affected local community in Bangladesh. Findings – The findings show that Niko did not provide any non-financial environmental information within its annual reports and press releases as a part of its responsibility to the local community which was affected by the blowouts, but it did produce a stand-alone report to address the issue. However, financial environmental disclosures, such as the environmental contingent liability disclosure, were adequately provided through annual reports to meet the regulatory requirements concerning environmental persecutions. The findings also suggest that Niko's non-financial disclosure within a stand-alone report was associated with the public pressures as measured by negative media coverage towards the Niko blowouts. Research limitations/implications – This paper concludes that the motive for Niko's non-financial environmental disclosure, via a stand-alone report, reflected survival considerations: the company's reaction did not suggest any real attempt to hold broader accountability for its activities in a developing country.

Media pressures and corporate disclosure of social responsibility performance information : a study of two global clothing and sports retail companies

This paper investigates the social and environmental disclosure practices of two large multinational companies, specifically Nike and Hennes&Mauritz. Utilising a joint consideration of legitimacy theory and media agenda setting theory, we investigate the linkage between negative media attention, and positive corporate social and environmental disclosures. Our results generally support a view that for those industry‐related social and environmental issues attracting the greatest amount of negative media attention, these corporations react by providing positive social and environmental disclosures. The results were particularly significant in relation to labour practices in developing countries – the issue attracting the greatest amount of negative media attention for the companies in question.

Perceptions of corporate social and environmental accounting and reporting practices from accountants in Bangladesh

Purpose – The aim of this study is to elicit accountants’ perceptions regarding corporate social and environmental accounting and reporting practices in a developing country such as Bangladesh. Design/methodology/approach – Members of the Institute of Chartered Accountants of Bangladesh (ICAB) were surveyed to determine their perceptions on issues pertaining to social and environmental accounting and reporting practices in Bangladesh. Findings – Whilst the findings show that accountants have positive attitudes toward corporate social and environmental accounting, progress is limited, with the absence of ICAB in making any noticeable effort to develop such practices. Research implications – Unlike prior studies, the implications of this study suggest that without international influence, it is less likely that institutional forces in Bangladesh (ICAB and the government) would be effective in dealing with social and environmental accounting and reporting issues. Originality/value – While prior studies advocate proactive roles of the accounting profession, this study argues that proactive roles are less likely to prevail in the context of Bangladesh without direct intervention from institutional and regulatory authorities in the international arena.

Corporate governance as social responsibility : a meta-regulation approach to raise social responsibility of corporate governance in a weak economy

Corporate governance (CG) denotes the rules of business decision-making and directs the internal mechanism of companies to follow the output of the rules. It includes the customs, policies, laws and institutions as a set of processes that affects the way in which a corporation is directed, administered or controlled.

Climate change-related corporate governance information : an explanation of the difference between the supply of and demand for such information

This study investigates the gap between the climate change-related corporate governance information being disclosed by companies, and the information sought by stakeholders. To accomplish this objective we utilised previous research on stakeholder demand for information, and we conducted in-depth interviews with six corporate representatives from major Australian emission-intensive companies. Having gained and documented a rich insight into the potential factors responsible for the current gap in disclosure we find that the existence of an expectations gap; the perceived cost of providing commercially sensitive information; the limited accountability being accepted by the corporate managers; and, a lack of stakeholder pressure together contribute to the lack of disclosure. In highlighting the gap in disclosure, this study suggests strategies to reduce the gap in climate change-related corporate governance disclosures.