The value of intangibles and diversity on boards looking towards economic future returns: evidence from non-financial Iberian business organisations

Compliance with intangible assets disclosure requirements: study of Portuguese non-financial companies

“…From the analysis of several studies addressing the issue of disclosure determinants, we have created a map of twenty studies (in Appendix 2) which allows the selection of factors influencing mandatory intangible assets disclosure: firm size, type of auditor, indebtedness, profitability, type of industry and foreign activity. These factors have been previously identified in a wide range of studies carried out by financial analysts and academics from around the world (Boubaker, Lakhal & Nekhili, 2012;Cooke,1989a;Cooke, 1992;Debreceny & Rahman, 2005;De Silva, Stratford & Clark, 2014;García-meca et al, 2005;Goebel, 2015;Lopes & Ferraz, 2016;Lopes & Rodrigues, 2007;Morariu, 2012;Oliveira et al, 2006;Ousama et al, 2012;Raffournier, 1995;Razak, Mohammad & Tobiagi, 2016;Tsalavoutas, 2011;Wallace et al, 1994;Whiting & Woodcock, 2011;Williams, 2001).…”

Can board diversity and choice of auditor enhance profitability?

“…In addition, international portfolio investments incentivise good corporate governance practices worldwide (Aggarwal et al 2011), with institutional investors playing a role in monitoring management (Almazan et al 2008), although action to apply efficacious practices may depend on board characteristics (Bozec 2005;Dahya et al 2009). Diversity on boards is defined by a number of characteristics (Lopes and Ferraz 2016); the requirement to disclose non-financial information (European Parliament and the Council 2014; OECD 2015) includes reporting on board diversity and policy. In the current research, analyses of facets of the board include gender diversity, size, proportion of non-nationals, background of its members, and interlocking directors.…”

“…Thus, while other research has used several accounting-based measures in order to analyse the same impact (i.e. Profit Margin, Asset Turnover, Return on Assets (ROA), Return on Equity (ROE), Earnings Per Share (EPS), Price Earnings Ratio (P-E), Pay-out Ratio, among others(Zahra and Pearce 1989;Shleifer and Vishny 1997;Von Nandelstadh and Rosenberg 2003;Bhagat and Black 2008;Guest 2009;Sachdeva 2014; Mizutani and Nakamura 2012;Rodriguez-Fernandez et al 2013;Klettner et al 2014;Mishra and Mohanty 2014;Mouselli et al 2014;Bianco et al 2015;Lopes and Ferraz, 2016), the current research selects only three of them (Profit Margin, Return on Equity, and Asset…”

Can board diversity and choice of auditor enhance profitability?

“…Bhagat and Black (2008) advocate that boards can improve performance by increasing sensitivity to risk and embedding risk-aversion into organisational processes (Yaacob and Basiuni 2014). Effective CG deals not only with assuring ROI for investors (Shleifer and Vishny 1997;Lopes and Ferraz 2016), but also creates a system that directs and controls companies (Sheikh et al 2013).…”