Template-type: ReDIF-Article 1.0 Author-Name: Alberto Quagli Title: Editorial. Lots done, more to do.. Abstract: Classification-JEL: Keywords: Note: Pages:5-6 Volume: 2012/4 Year: 2012 Issue:4 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=47862&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2012-004001 Number: 1 Template-type: ReDIF-Article 1.0 Author-Name: David Alexander Title: Is there such a thing as European Financial Reporting? Abstract: Classification-JEL: Keywords: Note: Pages:7-13 Volume: 2012/4 Year: 2012 Issue:4 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=47863&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2012-004002 Number: 2 Template-type: ReDIF-Article 1.0 Author-Name: Belinda Crawford Camiciottoli Title: Oral financial reporting: A rhetorical analysis of earnings calls Abstract: Earnings calls are a key form of voluntary financial reporting through which companies seek to proactively engage investors. Although now quite routine, little is known about their rhetorical dimension. Inspired by Aristotlean classical rhetoric, this paper offers an exploratory analysis of the language of a small sample of earnings calls to identify expressions of logos (reason), ethos (credibility) and pathos (emotion). Text analysis software was used to generate descriptive data for follow-up qualitative analysis to interpret strategic usage. Results indicate a strong presence of persuasive language that is skillfully juxtaposed by company executives with financial information to emphasize success and instill confidence. The findings can be applied towards developing state-of-the-art courses for students of financial communication and towards enhancing the effectiveness of financial reporting. Classification-JEL: Keywords: Note: Pages:15-34 Volume: 2012/4 Year: 2012 Issue:4 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=47864&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2012-004003 Number: 3 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=47864 Template-type: ReDIF-Article 1.0 Author-Name: Giovanna Michelon Title: Impression management and legitimacy strategies: The BP case Abstract: The aim of this paper is to study if and how impression management varies during different phases of the legitimation process, in particular during the legitimacy building and legitimacy repairing phases (Suchman, 1995). We aim at understanding whether and how the disclosure tone adopted by a company in the two different moments is diverse and thus functional to the intrinsic objective of the each phase. The empirical analysis focuses on the case of British Petroleum Plc. We investigated the impression management practices undertaken by the company both during the preparation of the rebranding operation, i.e. a situation in which the company is trying to build legitimacy; and during the happenings of two legitimacy crises, like the explosion of the refinery in Texas City and the oil spill in the Gulf of Mexico. The evidence appears in line with the theoretical prediction of legitimacy theory. Results show that while the company tends to privilege image enhancement techniques during the legitimacy-building phase, it uses more obfuscation techniques when managing a legitimacy-repairing process. Moreover, the analysis suggests that the company makes more extensive use of impression management techniques in the disclosures addressed to shareholders, investors and other market operators than in the disclosures addressed to the wide range of other stakeholders. Classification-JEL: Keywords: Note: Pages:35-64 Volume: 2012/4 Year: 2012 Issue:4 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=47865&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2012-004004 Number: 4 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=47865 Template-type: ReDIF-Article 1.0 Author-Name: Marco Venuti Title: The proposal for updating the EU Accounting Directives: The adequacy of the proposal versus the legislative targets Abstract: The European Commission issued its proposal for a new accounting Directive at the end of 2010, aimed at substituting the Directives currently in force and applicable to limited companies - the 4th and 7th Directives for company regulation. This article is intended to present a critical examination of such a proposal. It presents an initial evaluation as to the overall adequacy of the proposal as issued, versus the legislative objectives set up as goals by the Commission. In particular, it takes into consideration the set of accounting rules proposed as to their capacity to satisfy the legislative objectives in a reasonably exhaustive manner. This involves an in-depth evaluation of the actual progress made by the Commission in the arena of the accounting Directives, as well as identifying the gaps still present and the further corrective actions that appear necessary to fully realize the objectives set forth. Classification-JEL: Keywords: Note: Pages:65-85 Volume: 2012/4 Year: 2012 Issue:4 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=47866&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2012-004005 Number: 5 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=47866 Template-type: ReDIF-Article 1.0 Author-Name: Gerrit Brosel Author-Name: Martin Toll Author-Name: Mario Zimmermann Title: Lessons learned from the financial crisis - unveiling alternative approaches within valuation and accounting theory Abstract: In the aftermath of the financial crisis, one of the most topical research questions is what caused it. We argue that one of the causes is the insufficient theoretical background employed in most valuation cases. Over the last six decades, there has been constructive debate between the proponents of the various valuation theories. However, the advocates of the Anglo-Saxon valuation theory seem unimpressed by the outcomes, claiming that there is no viable alternative to their preferred theory. Consequently they cling to unrealistic assumptions like perfect capital markets and pure competition, and thereby deepen the financial crisis by excusing overvaluation. This research presents an alternative, functional business valuation, to assist business valuation. It indicates that knowledge of the functional theory and its application might help prevent similar undesirable developments in the future. Another cause of the financial crisis, tightly connected to the cause mentioned above, lays in the (theoretical) construct of "fair value accounting" and its undesirable pro-cyclical effects. Such effects are generally considered a matter of fact, but have rarely been linked to the neo-classical Anglo-Saxon valuation theory and its major shortcomings until now. A further factor promoting the financial crisis is the assertion that there are no useful alternatives to fair value accounting and its apotheosis to the "mark-to-market approach". A look into accounting history reveals at least one applicable alternative approach - the "historical cost principle". Classification-JEL: Keywords: Note: Pages:87-107 Volume: 2012/4 Year: 2012 Issue:4 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=47867&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2012-004006 Number: 6 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=47867 Template-type: ReDIF-Article 1.0 Author-Name: Raffaele Fiume Title: Dialogue with standard setters Abstract: Classification-JEL: Keywords: Note: Pages:109-118 Volume: 2012/4 Year: 2012 Issue:4 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=47868&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2012-004007 Number: 7 Template-type: ReDIF-Article 1.0 Author-Name: Michela Cordazzo Title: Book review Abstract: Classification-JEL: Keywords: Note: Pages:119-122 Volume: 2012/4 Year: 2012 Issue:4 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=47869&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2012-004008 Number: 8