Search Results (324)

Part-time employment is an increasingly important feature of the U.S. labor market, yet little is known about how earnings determinants differ between full-time and part-time pharmacists. Few prior studies have compared earnings models across these groups, but most have relied on small or geographically limited samples. Moreover, the dynamic and rapidly evolving nature of the labor market makes this study especially timely, as most prior research on pharmacist earnings is based on older data. This study examined earnings determination separately for full-time and part-time pharmacists, estimating the influence of work input, human capital, demographic characteristics, and job-related features within each group. Data were obtained from the 2019–2022 American Community Survey (ACS), a large, continuous, nationally representative survey conducted annually by the U.S. Census Bureau. The sample included 12,064 pharmacists (4667 men and 7397 women) aged 25–64 years, practicing in the U.S. Ordinary least-squares equations were estimated separately for male and female pharmacists within each employment category, allowing comparison of the direction, magnitude, and statistical significance of covariates across groups. Results revealed notable differences in the earnings effects of several factors between full-time and part-time pharmacists, highlighting the interaction of individual choices and structural market forces in shaping compensation. These findings can inform workforce planning and guide the development of targeted job-related incentives to support retention and satisfaction across employment types. Full article

South Africa’s urbanization is often driven by poverty, unemployment, and limited resource access. Unearned income, such as social grants and other sources, has contributed to poverty alleviation. However, concerns have also been raised that this unearned support may reduce individuals’ motivation to pursue earned income opportunities. This study investigates whether a two-step modelling approach provides better insight than a single-framework model to assess the influence of youths’ access to resources on household income generation. The results indicate that the two-step model is more effective, as different factors influence the decision to earn income and the amount earned. Youth unemployment and household receipt of remittances had similar effects on both the decision to earn income and the amount earned. In contrast, youth involvement in agriculture was positively associated with the decision to earn income but negatively associated with the amount of income. Youth-headed households face additional constraints due to limited access to and ownership of productive resources. The study concludes that a two-step approach provides more information and thus a more accurate understanding of rural income dynamics. Enhancing youth access to quality resources and evaluating the effectiveness of support programs are essential for fostering income generation and improving rural livelihoods. Full article

This study investigates the relationship between corporate reporting practices and the value relevance of accounting information by analyzing 100 publicly listed non-financial European firms between 2015 and 2019. Drawing on the Ohlson valuation framework, the analysis combines random effects with Driscoll–Kraay standard errors and System GMM estimations to assess the role of financial and non-financial disclosures. Materiality and stakeholder engagement were scored through content analysis of corporate reports, while ESG performance data were obtained from Refinitiv Eikon. The results show that financial fundamentals remain the most robust determinants of firm value, consistent with Ohlson’s model. Among qualitative disclosures, materiality demonstrates a strong and statistically significant positive association with market value in the random effects specification, while stakeholder engagement and ESG scores do not attain statistical significance. In the dynamic panel model, lagged market value is highly significant, confirming the persistence of valuation, while the effect of materiality and stakeholder engagement diminishes. Interaction models further indicate that materiality strengthens the relevance of earnings but reduces the role of book value, underscoring its selective contribution. Overall, the findings provide partial support for the claim that Integrated Reporting enhances the value relevance of accounting information. It suggests that the usefulness of IR depends less on adoption per se and more on the quality and substance of disclosures, particularly the integration of financial material ESG issues into corporate reporting. This highlights IR’s potential to improve transparency, accountability, and investor decision making, thereby contributing to more effective capital market outcomes. Full article

This study examines whether audit quality enhances the value relevance of earnings and book value of equity in explaining market prices of common shares in Thailand’s emerging market. Using data from 401 non-financial firms listed on the Stock Exchange of Thailand between 2021 and 2023, we analyze 1203 firm-year observations collected from Bloomberg and company annual reports. Multiple regression results show that earnings per share (EPS), book value per share (BVPS), and audit quality measures are significantly associated with share prices. Audit quality is proxied by audit firm size, audit fees, and financial statement irregularities (Beneish M-score). Big 4 auditors increase the relevance of book value, while higher audit fees strengthen the earnings–price relationship. Conversely, firms with higher M-scores, signaling potential earnings manipulation, display weakened associations between accounting metrics and share value. These findings highlight audit quality’s role in reducing information asymmetry, reinforcing investor trust, and supporting market efficiency in a post-crisis environment. By integrating audit quality into the Ohlson valuation framework, this study contributes to the literature on audit assurance and capital market behavior in emerging economies, offering insights for investors, regulators, and managers regarding the credibility of financial reporting. Full article

This study explores how individual moral philosophies influence accountants’ ethical perceptions of earnings management risk, addressing the broader question of how moral reasoning interacts with the cultural environment in shaping financial reporting decisions. Although accounting standards such as IFRS/IAS aim to harmonize reporting, cultural, and institutional factors can lead professionals to interpret and apply them differently, making ethical perceptions context-dependent. Building on positive accounting theory and Forsyth’s model of personal moral philosophy, we conducted a scenario-based survey among Polish accounting professionals, using an extended set of earnings management scenarios developed by Bruns and Merchant and modified by Jooste. Our results indicate that subjectivists demonstrate greater ethical sensitivity to earnings-altering behavior, while absolutists exhibit the least. We also examined ethical evaluations across different types of earnings management practices, including income-increasing versus income-decreasing, accrual-based versus real earnings management, and multi-year versus single-year manipulations. Understanding how different moral orientations influence the perception of managerial interventions in reported figures can help executives foster an organizational culture that promotes the provision of reliable and accurate information to stakeholders. Study limitations include sample size and scope, suggesting the need for future research incorporating broader demographics and contextual variables. Full article

This paper investigates how market expectations regarding profitability mean reversion are reflected in stock prices. We propose a model that infers implicit expectations of future earnings using publicly available share prices based on the assumption that markets efficiently incorporate forward-looking information. The study compares several adjustment models, including the classical partial adjustment framework and a mean reversion model, to identify the most suitable mechanism to capture the dynamics of expected earnings. Special attention is paid to the statistical characteristics of accounting data and ratio-based measures, which influence model performance. Using a dataset covering a twenty-year period, we find that the mean reversion model consistently outperforms partial adjustment models in explaining the behavior of cyclical and random components converging toward a long-term trend. The findings suggest that market prices embed rational expectations of profitability reversion, especially in periods of above average performance. These results align with previous research and provide a robust framework for understanding how earnings expectations are formed and adjusted in financial markets. Full article

Background: Parents make vital decisions regarding their children’s health and safety. Poor parental self-efficacy is associated with unfavorable health outcomes among their children. This study aims to investigate parental self-efficacy in managing pediatric medications and treatments in Jordan. Methods: This is an online cross-sectional survey study that was conducted in Jordan between 20 April and 4 July 2025. Self-efficacy in managing medications and treatments for children was assessed utilizing a previously validated questionnaire, including healthcare information or decision-making, symptom identification or management, general treatment management, general healthcare navigation, and feeding management. Logistic regression analysis was performed to identify predictors of a higher level of self-efficacy. Results: A total of 597 parents were included in this study. The majority of parents reported high levels of confidence (self-efficacy) in managing various aspects of their child’s care. The highest proportion of parents indicated they were very confident in knowing when their child needs to visit a healthcare provider (35.2%) and in following their child’s diet or nutrition plan (36.9%). Very confident was the most selected response for knowing how to contact healthcare providers (38.4%) and scheduling an appointment (37.0%). Higher income was strongly linked to greater self-efficacy, with parents earning 1001–1500 Jordanian dinars (JOD) showing significantly higher odds (odds ratio (OR) = 4.44, 95% confidence interval (CI): 2.42–8.15, p < 0.001) compared to those earning less than 500 JOD. Parents working in medical fields also had higher odds (OR = 3.30, 95% CI: 1.69–6.45, p < 0.001) compared to those not working. Parents with 2–3 children (OR = 1.73, 95% CI: 1.00–3.00, p = 0.049) or 4–5 children (OR = 1.59, 95% CI: 1.05–3.63, p = 0.03) had greater odds of self-efficacy compared to those with one child. Conclusions: The majority of the parents in this study expressed strong self-efficacy in managing their child’s care, specifically in healthcare-related tasks. Higher self-efficacy was significantly associated with parents’ socioeconomic characteristics such as marital status, medical employment, income, insurance coverage, and number of children. At the same time, lower confidence levels and self-efficacy were observed among divorced parents. More support should be directed towards low-income families and parents who work outside the medical field to enhance their self-efficacy and ultimately the health outcomes of their children. Full article

Economic challenges place lower-income, economically marginalized families at heightened risk for experiencing financial stress, which is associated with a host of adverse family outcomes. Among lower-income families raising young children, existing economic challenges are often exacerbated by the added needs of children, including child-specific expenses (e.g., childcare) and decreased parental earning capacity. In these families, financial stress may strain the coparenting alliance; however, scant research has explored the association, particularly in families with young infants. Informed by family systems theory and the family stress model, the present study utilized an actor–partner interdependence model to explore the relationship between financial stress and the quality of the coparenting alliance within a sample of 214 lower-income opposite-sex couples with or expecting a new baby. This study further examined potential differences between (a) mothers and fathers, (b) cohabiting and married parents, and (c) those in different parenting contexts (i.e., new vs. established parents, recent vs. anticipated births). Results indicated that mothers’ and fathers’ perceptions of financial stress were negatively associated with their own report of coparenting alliance but not their partner’s coparenting alliance. This association was consistent across couple relationship structures and parenting contexts. Implications for policy and practices are provided. Full article

Smallholder irrigation farmers play a vital role in sustaining rural communities in South Africa. However, the performance of smallholder irrigators, both as income generators and job creators, has come under scrutiny in recent years. In Limpopo province, a study was conducted in the Vhembe District using cross-sectional data from 95 independent and 165 public smallholder irrigators, which are privately established farmers and users of government-supported and managed irrigation systems, respectively. Qualitative data were collected through questionnaires, key informant interviews, and group discussions. Quantitative data were analyzed by SPSS version 30 using themes and codes, employing inferential statistical methods such as chi-square and t-tests to assess variables related to agrifood systems, crop selection, and market access. The study found that smallholders predominantly favor the production of grains, vegetables, and horticultural crops, with a statistically significant (p < 0.05) similarity between independent and public irrigators. Public irrigators dominate within irrigation schemes at 64% of the total, with X² of 22.7 with 0.001 p-value. Amongst the groups, the income distribution shows a statistically significant difference in earnings between independent and public irrigators (χ² = 25.83, p < 0.001). Informal and formal markets are accessible and available to 59% of independent irrigators, but 30% of public irrigators only access the informal market (p < 0.001). The major identified challenge across all smallholders is the lack of food value addition and commercial packaging. The study recommends the development of food value addition initiatives, adoption of climate-smart practices, maintenance of infrastructure, and improvement of market access to enhance productivity and sustainability. Full article

Industrial tree plantations (ITPs) are increasingly recognized as a sustainable response to deforestation and the decline in native wood resources in the Philippines. This study presents LUNTIAN (Labor, UNiversity, Timber Investment, and Agent-based Nexus), an agent-based model that simulates an experimental ITP operation within a mountain forest managed by University of the Philippines Los Baños. The model integrates biophysical processes—such as tree growth, hydrology, and stand dynamics—with socio-economic components such as investment decision making based on risk preferences, employment allocation influenced by local labor availability, and informal harvesting behavior driven by job scarcity. These are complemented by institutional enforcement mechanisms such as forest patrolling, reflecting the complex interplay between financial incentives and rule compliance. To assess the model’s validity, its outputs were compared to those of the 3PG forest growth model, with results demonstrating alignment in growth trends and spatial distributions, thereby supporting LUNTIAN’s potential to represent key ecological dynamics. Sensitivity analysis identified investor earnings share and community member count as significant factors influencing net earnings and management costs. Parameter calibration using the Non-dominated Sorting Genetic Algorithm yielded an optimal configuration that ensured profitability for resource managers, investors, and community-hired laborers while minimizing unauthorized independent harvesting. Notably, even with continuous harvesting during a 17-year rotation, the final tree population increased by 55%. These findings illustrate the potential of LUNTIAN to support the exploration of sustainable ITP management strategies in the Philippines by offering a robust framework for analyzing complex social–ecological interactions. Full article

With consumers increasing in environmental awareness, manufacturers have integrated green R&D into their strategies, aiming to grasp the green market. However, manufacturers may be too bullish on the market potential of green products and maintain an optimistic attitude toward green R&D. Despite having an optimistic attitude, manufacturers often have no demand information advantage over downstream retailers due to their position in the supply chain, away from the market. It is worth exploring what impact optimistic green R&D in a sustainable supply chain with demand information asymmetry will have. Previous studies have not managed to reveal this. In this study, a stylized model is introduced to explore this question. The main findings are as follows: (1) optimistic green R&D increases the feasibility of the retailer sharing demand information, which facilitates information communication in the sustainable supply chain; (2) in most cases, optimistic green R&D does not bring higher profits for the manufacturer, yet is likely to allow the retailer to earn more, thereby resulting in a loss–win outcome; and (3) depending on the green R&D efficiency of the manufacturer and the consumer’s environmental awareness, optimistic green R&D may not generate higher environmental benefits. Full article

In this study, we utilize a unique quarterly dataset of non-GAAP earnings to re-examine the “informational” role of non-GAAP earnings from the perspective of value relevance and earnings predictability in the post-Reg G period. We find that non-GAAP earnings are more value relevant and can better predict future operating earnings of a firm compared to equivalent GAAP earnings. Additionally, we also find empirical evidence suggesting that the difference in the value relevance and earnings predictability between non-GAAP and equivalent GAAP earnings can vary across but cannot be completely mitigated by firm-level characteristics, such as the market value of equity, accruals quality, analyst coverage, and managerial ability of a firm. Moreover, our supplementary analysis reveals that the superior value relevance and predictive power of non-GAAP earnings persist even after the SEC’s release of the Compliance and Disclosure Interpretations (C&DI) in 2010. Overall, our empirical evidence suggests a superior “informational” role of non-GAAP earnings to equivalent GAAP earnings in terms of valuation and predictability on future operating performance in the post-Reg G period. Full article

China’s internal control framework follows the Committee of Sponsoring Organizations (COSO) framework, emphasizing enterprise risk management and encompassing financial reporting, operations, compliance, and strategies. The authors review research that uses the COSO-based Internal Control Index to assess internal control quality among all publicly listed firms in China. Unlike the binary classification of internal control weaknesses under the Sarbanes-Oxley Act Section 404, this continuous index captures more nuanced variations in internal control effectiveness and provides two key advantages over traditional assessment of internal control over financial reporting (ICFR). First, while financial reporting can enhance a firm’s monitoring and decision-support systems, the underlying information is determined by operations. Thus, internal control over operations has a greater impact on a firm’s performance than ICFR. While U.S.-based research argues that the effects of ICFR extend to operations, the COSO-based index includes operational controls, allowing for a more direct study of internal control effects. Second, many U.S. corporations fail to report internal control weaknesses, particularly during misstatement years. In contrast, the COSO-based index, compiled by independent scholars, avoids managerial incentives to withhold negative internal control information. Covering institutional background and research evidence from China, the authors survey a wide range of internal control studies related to various aspects of enterprise risk management, such as earnings quality, crash risk, stock liquidity, resource extraction, cash holdings, mergers and acquisitions, corporate innovation, receivable management, operational efficiency, tax avoidance, and diversification strategy. Full article

This study investigates whether internationally diversified firms substitute between accrual-based and real earnings management and examines how institutional supervision moderates this relationship. Drawing on a sample of Taiwanese firms listed on the Taiwan Stock Exchange from 2003 to 2016, we conduct regression analyses to test our hypothesis. We find that internationally diversified firms actively shift between accrual and real earnings management strategies depending on the constraints they face. Specifically, firms tend to rely more on accrual-based manipulation when information asymmetry is high and switch to real earnings management when accruals are more easily detected. We also show that stronger institutional supervision—measured by information transparency and investor protection—significantly curbs accrual-based earnings management. These findings reflect the higher volatility and agency problems associated with international operations, such as exposure to foreign risks and the distance between parent and subsidiary firms. By highlighting the conditions under which firms manage earnings and the supervisory mechanisms that constrain such behavior, this study offers practical insights for managers seeking to smooth earnings, investors aiming to evaluate firm transparency, and policymakers designing regulations to deter opportunistic financial reporting. Full article

This paper explores the effectiveness of an innovative FinTech risk-scoring model to predict the risk-appropriate return for short-term credit sales. The risk score serves to mitigate the information asymmetry between the seller of receivables (“Seller”) and the purchaser (“Funder”), at the same time providing an opportunity for the Funder to earn returns as well as to diversify its portfolio on a risk-appropriate basis. Selling receivables/credit to potential Funders at a risk-appropriate discount also helps Sellers to maintain their short-term financial liquidity and provide the necessary cash flow for operations and other immediate financial needs. We use 18,304 short-term credit-sale transactions between 23 April 2020 and 30 September 2022 from the private FinTech startup Crowdz and its Sustainability, Underwriting, Risk & Financial (SURF) risk-scoring system to analyze the risk/return relationship. The data includes risk scores for both Sellers of receivables (e.g., invoices) along with the Obligors (firms purchasing goods and services from the Seller) on those receivables and provides, as outputs, the mutual gains by the Sellers and the financial institutions or other investors funding the receivables (i.e., the Funders). Our analysis shows that the SURF Score is instrumental in mitigating the information asymmetry between the Sellers and the Funders and provides risk-appropriate periodic returns to the Funders across industries. A comparative analysis shows that the use of SURF technology generates higher risk-appropriate annualized internal rates of return (IRR) as compared to nonuse of the SURF Score risk-scoring system in these transactions. While Sellers and Funders enter into a win-win relationship (in the absence of a default), Sellers of credit instruments are not often scored based on the potential diversification by industry classification. Crowdz’s SURF technology does so and provides Funders with diversification opportunities through numerous invoices of differing amounts and SURF Scores in a wide range of industries. The analysis also shows that Sellers generally have lower financing stability as compared to the Obligors (payers on receivables), a fact captured in the SURF Scores. Full article