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Risks
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Enterprise Risk and Financial Accounting
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Enterprise Risk and Financial Accounting

A special issue of Risks (ISSN 2227-9091).

Deadline for manuscript submissions: closed (30 November 2022) | Viewed by 8195

Special Issue Editors

Prof. Dr. Adriana Dutescu

E-Mail Website
Guest Editor
Department of Accounting and Audit, The Bucharest University of Economic Studies, 6 Piața Romană, 1st District, 010374 Bucharest, Romania
Interests: financial accounting accounting; financial reporting; financial statement analysis; management accounting
Prof. Dr. Voicu-Dan Dragomir

E-Mail Website
Guest Editor
Faculty of Accounting and Management Information Systems, Bucharest University of Economic Studies, Bucharest, Romania
Interests: financial accounting; corporate governance; sustainability reporting; sustainable development goals (SDGs); integrated reporting; European Union taxonomy; circular economy
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Globalization as a response to the recent accelerated development in technologies and business environment has shifted the economic entities to a more dynamic way of doing business, and the adaptation to uncertainty has become one of the most important manifestation. Risk and uncertainty are now the rules of the game and managers are seeking for various ways of integration within the organizational behavior. The assessment of financial and managerial health are specific milestones in this endeavor, financial accounting offering grounded tools and mechanisms to predict, mitigate and eventually absorb various macro and micro risks within the business sustainability pattern.

The ‘true and fair view’ configuration supplied by the financial reporting is supporting the organizational legitimacy and reputation. A well-developed risk management system is an organizational resource that can create competitive advantages, especially within a turbulent economic environment.

This Special Issue aims to collect scientific contributions exploring the relationships between the accounting system and risk management in organizations. We welcome original contributions that propose theoretical models of the interactions between these systems, but also empirical papers with diverse methodologies, that reveal how the accounting system is integrated into the risk management system of an organization.

Prof. Dr. Adriana Dutescu
Dr. Voicu-Dan Dragomir
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Risks is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1800 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • risk management
  • financial accounting
  • accounting fraud
  • management accounting
  • liquidity risk
  • credit risk
  • compliance risk
  • reputational risk
  • strategic risk

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Published Papers (2 papers)

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Research

20 pages, 433 KiB  
Article
The Relationship between Integrated Thinking and Financial Risk: Panel Estimation in a Global Sample
by Oana-Marina Radu and Voicu D. Dragomir
Risks 2023, 11(1), 6; https://doi.org/10.3390/risks11010006 - 23 Dec 2022
Cited by 3 | Viewed by 3484
Abstract
There is a growing interest in identifying the benefits that companies may have once they disclose financial and sustainability information in integrated reports. The aim of this study is to analyze the relationship between integrated thinking and reporting (ITR) and financial risk in [...] Read more.
There is a growing interest in identifying the benefits that companies may have once they disclose financial and sustainability information in integrated reports. The aim of this study is to analyze the relationship between integrated thinking and reporting (ITR) and financial risk in nonfinancial companies worldwide. Data were collected mainly from the Refinitiv Eikon database for 7111 companies from 85 countries over the period 2017–2021. The focal industries are basic materials, consumer discretionary, consumer staples, energy, healthcare, industrials, real estate, technology, telecommunications, and utilities. Panel regression was used as a statistical procedure and random effects models are preferred. Hypotheses related to signaling theory are confirmed, as companies are interested in high-quality disclosures in integrated reports, reflecting a positive outlook and reduced financial risk. Our results show a negative relationship between ITR and the weighted average cost of capital, and a positive association between the main predictor and liquidity measured by the cash ratio. In addition, designing a compensation system linked to sustainability performance leads to a reduced cost of financing through debt and equity. Robustness tests were applied to the relationship between ITR and the weighted average cost of capital; the results show that stricter board oversight and holistic stakeholder management can decrease the average cost of capital and the financial risk for the company. This research is important for stakeholders looking to improve their knowledge about integrated reports and for practitioners seeking to enhance the quality of integrated reports and reduce the financial risk of companies. Full article
(This article belongs to the Special Issue Enterprise Risk and Financial Accounting)
21 pages, 481 KiB  
Article
The Interplay of Leverage, Financing Constraints and Real Earnings Management: A Panel Data Approach
by Ammar Hussain, Minhas Akbar, Muhmmad Kaleem Khan, Marcela Sokolová and Ahsan Akbar
Risks 2022, 10(6), 110; https://doi.org/10.3390/risks10060110 - 27 May 2022
Cited by 5 | Viewed by 3535
Abstract
Organizations are formed to gain long-term benefits. However, sometimes myopic management for feigned value enhancement led to the early demise of the firm. Further, to the best of our knowledge empirical role of financing constraints has not yet been explored between the relationship [...] Read more.
Organizations are formed to gain long-term benefits. However, sometimes myopic management for feigned value enhancement led to the early demise of the firm. Further, to the best of our knowledge empirical role of financing constraints has not yet been explored between the relationship of leverage and earnings management practices. Therefore, the present study aims to empirically examine the impact of leverage on Real Earnings Management (REM) practices and how financing constraints influence this association. Employs a panel dataset of 3250 non-financial Chinese listed firms for a time period spanning from 2009 to 2018. Leverage is categorized into short-term, long-term, and total leverage to check the individual effects of each leverage category on REM practices. The data were analyzed through panel data fixed-effects and random-effects techniques as an econometric approach. First, consistent with positive accounting theory, the impact of total leverage on REM is positive. Second, compared to the long-term leverage, short-term leverage has more pronounced effects on managers’ opportunistic behavior towards using REM. Third, the influence of total leverage is higher (lower) on REM practices in financially unconstrained (constrained) firms. Fourth, the influence of short-term leverage on REM practices compared to long-term leverage is also weak in the financially constrained firms. These findings imply that, to avoid the consequences of managerial myopia, investors should abstain to invest in the firms that use higher amount of short-term debt and are financially unconstrained. This study is the first research to examine the impact of different leverage categories on REM practices in an emerging market, i.e., China, where the legal and financial structure is much poor. Full article
(This article belongs to the Special Issue Enterprise Risk and Financial Accounting)
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