Doing Qualitative Research

The purpose and functions of the Highway Research Board's Committee on Conduct of Research are set forth, and papers sponsored by the Committee and presented at the Annual Meetings of the Highway Research Board are mentioned. The Committee, which seeks to improve the quality and effectiveness of research, serves as a forum for the exhange of ideas and the delineation of the problems associated with the various methods of organizing and administering research programs, the consideration of project design and instrumentation, and the application of research findings in the transportation field. The Committee has sponsored Annual Meeting sessions (in 1969, 1973, and 1974) on various aspects (selection, design, and supervision of projects as well as the implementation of results and evaluation of the benefits) of research management. Papers presented at the 1969 sessions were published in Highway Research Record 338. Eight papers presented at the 1973 sessions are included in this publication.

Management of research. introduction

Cost Accounting: A Managerial Emphasis

This paper provides, to the best of the authors' knowledge, the first meta‐analysis of evidence about the influence of the corporate governance on environmental, social, and governance (ESG) disclosure, in a setting where the disclosure of information is voluntary but not discretionary. We apply meta‐analysis to a sample of 24 empirical studies to clarify the relationship of board size, board independence, women on board, number of board meeting, CEO duality, and company ownership with ESG disclosure. Our results show that board independence, board size, and women directorship visibly enhance ESG voluntary disclosure; board ownership and CEO duality do not improve the level of ESG disclosure; and some hesitations remain in respect of the number of board meetings and institutional and family ownership. The paper contributes to the ongoing debate on the corporate governance mechanisms that lead to more ESG disclosure and highlight the need of new approach on these issues.

Corporate governance and environmental social governance disclosure: A meta‐analytical review

This report provides an assessment of Moroccan accounting and auditing standards and practices, and the institutional capacity necessary to ensure high-quality financial reporting. The law gives accounting standard-setting responsibility to the National Accounting Council (Conseil National de la Comptabilite). Since the Council was established in 1989, Moroccan accounting standards have improved greatly. However, further progress is impeded by weaknesses in the accounting standard-setting process and, more so, by implementation issues. The Bank Al-Maghrib, Insurance and Social Welfare Directorate (Direction des Assurances et de la Prevoyance Sociales), and Securities Commission (Conseil Deontologique des Valeurs Mobilieres) are responsible for monitoring the quality of financial information and the enforcement of accounting standards for credit institutions, insurance companies, and listed companies, respectively. While the Bank Al-Maghrib has established an institutional framework for bank monitoring that is more advanced than that of other sectors, the overall design and implementation of the three supervisory frameworks need improvement. The legislative framework for the Moroccan accounting profession is adequate. However, significant implementation issues exist, such as the absence of a quality assurance system and the lack of continuing professional education. Moroccan auditing standards are largely inspired by the International Standards on Auditing (IAS).However, the omission of certain standards weakens the Moroccan auditing framework. The large number of chartered accountants that do not even observe Moroccan auditing standards exacerbates this issue. While financial statements in Morocco generally include most of the information necessary to analyze the financial status of a company, certain lesser disclosure standards as compared to the IAS reduce the usefulness and transparency of Moroccan financial reports. Moreover, financial information is not readily available, as the mechanisms to publish statements are inefficient. The policy recommendations in this report focus on strengthening the enforcement of established accounting and auditing requirements, as well as supporting the initiatives that Morocco has been implementing over the last ten years.

Report on the observance of standards and codes (ROSC): Kingdom of Morocco

Purpose




The purpose of this study is to increase our understanding of the impact of corporate governance factors on the disclosure of internal control information by firms in Ghana.




Design/methodology/approach




A data set from 110 firms in Ghana for the year ending of 2013 was used. Each annual report was individually examined and coded to obtain the disclosure of internal control information index. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis, which forms the main data analysis method.




Findings




Results of the disclosure of internal control information mean of 35 per cent indicate that most of the sampled firms did not disclose sufficient internal control information in their annual reports. The low level of internal control information disclosure cannot be used by stakeholders to determine the level of corporate governance practices in the sampled companies. The results of the regression analysis indicate that board independence is a significant variable that explains the disclosure of internal control disclosure. This supports the generally held view that independent directors help to improve the quality of disclosure and increase the transparency of information.




Originality/value




This is the first study in Ghana that considered the impact of corporate governance factors on internal control information disclosures. This study contributes to the literature on the relationship between corporate governance and disclosure by showing that the disclosure of internal control information in Ghana is associated with the proportion of independent board members. This findings support Sarbanes–Oxley (SOX) 404 requirements, even though this is not compulsory for Ghanaian firms unlike their US counterparts. The findings of this study will help market regulators in Ghana and Sub-Saharan Africa, Security and Exchange Commission (SEC) and the Sub-Saharan African Exchanges in evaluating the adequacy of the current disclosure regulations in their countries. Understanding the board composition and their impact on voluntary disclosure provides evidence on the sufficiency of the board of directors’ guidelines in the corporate governance code in Sub-Saharan African countries.

Internal control information disclosure and corporate governance: evidence from an emerging market

In a developing economy like Ghana, the contribution of small firms to the employment of the youth is highly recognised, but their contribution towards revenue to the national budget seems negligible. The reason is that some of the firms do not manage their working capital as expected and this has affected the viability of their businesses. The study revealed that the operators of small firms possess limited formal education, weak managerial and financial management skills within the sector. They also lack qualified accounting staff and suitable accounting software which are motivators to effective working capital management practices. Owners/managers were found to act as barriers to efficient usage of working capital management practices. Recommendations on credit control and collection policies, the importance of the use of computer spreadsheets, training and education which the study found to be problems with the sample small firms have been suggested to the owners/managers.

https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1596734_code1331753.pdf?abstractid=1596734&rulid=99988&mirid=3

Working Capital Management Practices of Small Firms in the Ashanti Region of Ghana

Purpose




This paper aims to examine the relationship between corporate governance, corruption and disclosure of forward-looking information in listed firms in two African countries, Botswana and Ghana.




Design/methodology/approach




The study uses 174 firm-year observations between the period of 2011-2013 for listed firms in the two countries. Each annual report was individually examined and coded to obtain the disclosure of forward-looking information index. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis which forms the main data analysis.




Findings




The findings show that firms in the least corrupt country, Botswana, disclose more forward-looking information than firms in Ghana, one of the most corrupt countries in sub-Saharan Africa. This confirms the relationship between the transparency level of a country and the transparency level of the listed firms in that country.




Originality/value




This is one of the few studies in sub-Saharan Africa that considered the impact of corporate governance factors on transparency and disclosure of forward-looking information. This study contributes to the literature on the relationship between corporate governance and disclosure by showing that disclosure of forward-looking information in Ghana is associated with the proportion of independent board members. The disclosure of forward-looking information in Botswana on the other hand is influenced by board ownership concentration. The findings of this study will help market regulators in Ghana, Botswana and sub-Saharan Africa, Security and Exchange Commission (SEC) and the Sub-Sahara African Exchanges in evaluating the adequacy of the current disclosure regulations in their countries.

The relationship between corporate governance, corruption and forward-looking information disclosure: a comparative study

The contribution of small firms to the national budget seems to be negligible as a result of their inability to prepare financial reports. The factors that motivate the sample firms in the Ashanti Region of Ghana in pursuing sound financial management practices are: - Pressure from bankers (90%) - Pressure from external accountants (80%) - Pressure from providers of capital (70%) The factors that prevent them from practising sound financial management practices were: - Qualified accountants too expensive to maintain (93%) - Accounting records too difficult to understand (87%) - Lack of internal accounting staff (73%)

Financial Management Practices of Small Firms in Ghana: An Empirical Study

According to the IASB's IFRS framework, qualitative characteristics are the attributes that make the information provided in financial statements useful to others. This study was conducted to investigate the quality of financial reports before and after adopting IFRSs in Ghana, and also the influence of firm-specific characteristics which include firm size, profitability, debt equity ratio, liquidity and audit firm size on the quality of financial information disclosed by firms listed on the Ghana Stock Exchange. The research was conducted through detailed analysis of the pre-official adoption period, (2006) and post adoption period, (2008) financial statements of the listed firms. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis which forms the main data analysis. The results of the quality of financial information disclosure mean of 76.80% (pre adoption) and 87.09% (post adoption) for the two years indicate that the quality of financial reports has improved significantly after adopting IFRSs. The study thus confirms that the implementation of IFRSs generally reinforce accounting disclosure quality. It also indicates listed firms' overwhelming compliance with the IASB's IFRS Framework. The results of the multiple regression analysis show that company size, represented by net assets and Auditor type were found to be associated at a statistically significant level with the quality of financial information disclosed. With the improvement in the quality of the financial reports after adopting IFRS users are assured of useful information for financial decision-making.

Ben Kwame Agyei-Mensah

Papers

Internal control information disclosure and corporate governance: evidence from an emerging market

Working Capital Management Practices of Small Firms in the Ashanti Region of Ghana

The relationship between corporate governance, corruption and forward-looking information disclosure: a comparative study

Financial Management Practices of Small Firms in Ghana: An Empirical Study

Adoption of International Financial Reporting Standards (IFRS) in Ghana and the Quality of Financial Statement Disclosures