Crisis communication and social media : the changing environment for natural disaster response

Over the past two years there have been several large-scale disasters (Haitian earthquake, Australian floods, UK riots, and the Japanese earthquake) that have seen wide use of social media for disaster response, often in innovative ways. This paper provides an analysis of the ways in which social media has been used in public-to-public communication and public-to-government organisation communication. It discusses four ways in which disaster response has been changed by social media: 1. Social media appears to be displacing the traditional media as a means of communication with the public during a crisis. In particular social media influences the way traditional media communication is received and distributed. 2. We propose that user-generated content may provide a new source of information for emergency management agencies during a disaster, but there is uncertainty with regards to the reliability and usefulness of this information. 3. There are also indications that social media provides a means for the public to self-organise in ways that were not previously possible. However, the type and usefulness of self-organisation sometimes works against efforts to mitigate the outcome of the disaster. 4. Social media seems to influence information flow during a disaster. In the past most information flowed in a single direction from government organisation to public, but social media negates this model. The public can diffuse information with ease, but also expect interaction with Government Organisations rather than a simple one-way information flow. These changes have implications for the way government organisations communicate with the public during a disaster. The predominant model for explaining this form of communication, the Crisis and Emergency Risk Communication (CERC), was developed in 2005 before social media achieved widespread popularity. We will present a modified form of the CERC model that integrates social media into the disaster communication cycle, and addresses the ways in which social media has changed communication between the public and government organisations during disasters.

Related party transactions, corporate governance and accounting quality in Greece

Related Party Transactions (RPTs) have been considered recently in research as a phenomenon which is associated with several financial scandals, shareholder’s wealth expropriation and is used for earnings management (EM) purposes by the reporting entity. This study aimed to: (i) assess the extent of EM and RPTs i Greece; (ii) investigate the association between RPTs and EM; (iii) investigate the association between corporate governance and EM; (iv) investigate the association between corporate governance and RPTs; and (v) investigate the impact of RPTs on Accounting Quality. Greece was selected for this study as it provides a special context due to poor investor protection, high levels of EM and unhealthy financial reporting environment where wealth extraction and EM are more likely. This study examines the relationship between earnings management and RPTs for the firms listed on the Athens Stock Exchange (ASE). Moreover, it examines the association between earnings management and corporate governance activities. The results show a negative and significant relationship between EM and RPTs. This finding does not support the conclusion that RPTs are necessarily conducted to mask fraud or the extraction of firm resources. The results show that firms audited by one of the Big 4 audit firms are associated with less EM. Additionally, the study investigates the relationship between RPTs and accounting quality. The findings show that that there is no significant difference in accounting quality between RPTs firms and non-RPTs firms. This study contributes to the EM, accounting quality and corporate governance literatures. This research suggests recommendations for researchers, data providers and policy makers on ways to reduce the problems associated with RPTs.