Template-type: ReDIF-Article 1.0 Author-Name: Thomas D?Angelo Author-Name: Marco Lam Author-Name: Samir El-Gazzar Author-Name: Rudolph Jacob Title: GAAP-compliant versus non-GAAP voluntary disclosures relative to critical reporting dates Abstract: Purpose - This paper investigates the impact of generally accepted accounting principles (GAAP) and non-GAAP voluntary disclosures on equity returns for im-portant financial reporting dates. Design/methodology - Using hand-coded archival data, we developed 2,329 matched pairs consisting of non-GAAP (control) and GAAP (treatment) quarterly observations and compared the equity returns for each group around the earnings release and SEC filing dates. Findings - Our findings suggest that the valuation relevance of GAAP disclos-ing firms significantly exceeds that of non-GAAP firms in the case of earnings and cash flow surprises. These results support the notion that investors perceive GAAP-compliant disclosures as necessary, complementary information about a firm?s performance and equity value. We also reveal that the market revaluation of equi-ty on the earnings release date significantly exceeded that on the SEC filing date. This finding confirms that the more comprehensive disclosure provided by GAAP firms on the earlier date preempted at least some of the information subsequently disclosed on the SEC filing date. Value - Extends the voluntary disclosure literature, in particular the valuation relevance of GAAP versus non-GAAP disclosures. The findings discussed in this paper are of special interest to policymakers and regulators, financial analysts, corporate managers, firm stakeholders, and academics interested in financial re-porting as they continue to study voluntary disclosure rules and practices. Classification-JEL: D22, L21, M40, M41, M48 Keywords: Note: Pages:5-40 Volume: 2022/1 Year: 2022 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=70948&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2022-001001 Number: 1 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=70948 Template-type: ReDIF-Article 1.0 Author-Name: Luca Menicacci Title: Financial reporting and book-tax conformity: A review of the issues Abstract: This work reviews accounting research on book-tax conformity (BTC) with specific reference to financial reporting issues. There is an ongoing debate in the accounting literature about the impact of BTC levels (weak/strong) on accounting quality and on tax avoidance. Policymakers have discussed at length the opportunity to reform BTC as well. Proponents of a strong BTC argue that it can deter both financial reporting ma-nipulation and aggressive tax planning by creating contrasting incentives between book earnings maximisation and taxable income minimisation. Further controls on book earnings assured by taxing authorities will reinforce such beneficial ef-fects. Opponents of a strong BTC suggest that financial accounting decisions should not interfere with tax accounting and vice versa, as financial reporting and tax reporting have different purposes. Furthermore, under a strong BTC, managers will tend to smooth earnings to minimise income taxes, thus reducing earnings in-formativeness. Even if a strand of research based on the Tax Reform Act (TRA 86) in the US corroborates the position of opponents, a large body of literature formed in international settings has not yet reached a consensus over the conse-quences of BTC. This circumstance makes BTC a relevant topic to the current de-bate on financial reporting quality. Classification-JEL: H25, H26, M40, M48 Keywords: Note: Pages:41-77 Volume: 2022/1 Year: 2022 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=70949&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2022-001002 Number: 2 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=70949 Template-type: ReDIF-Article 1.0 Author-Name: Riccardo Macchioni Author-Name: Alessandra Allini Author-Name: Martina Prisco Title: The role of the Big Four audit firms and the legal system in non-GAAP comparability Abstract: The purpose of this paper is to investigate whether the firms with the same Big Four audit firm and from the same legal system disclose more comparable non-GAAP measures. Using 23,436 pairs of European firms, we hand-collected infor-mation on the non-GAAP measures disclosed in the statement of comprehensive income. The results showed that the firms with the same Big Four audit firm or from the same legal system are positively and significantly associated with non-GAAP comparability. Our work adds to the studies on accounting comparability. Furthermore, it provides fresh insights that support the latest IASB activity on the Primary Financial Statement project, under which the standard setter has en-dorsed ED/2019/7 General Presentation and Disclosures. Classification-JEL: M40, M41 Keywords: Note: Pages:79-116 Volume: 2022/1 Year: 2022 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=70950&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2022-001003 Number: 3 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=70950 Template-type: ReDIF-Article 1.0 Author-Name: Ivo Hristov Author-Name: Antonio Chirico Author-Name: Riccardo Camilli Title: The role of Key Performance Indicators as a performance management tool in implementing corporate strategies: A critical review of the literature Abstract: Over recent decades, organizations have moved into highly competitive markets that force companies to implement Performance Management Systems (PMSs) to keep monitoring strategy alignment and activities. In this context, this paper provides a Systematic Literature Review (SLR) on the use of Key Performance Indicators (KPIs) in PMSs. Relevant and useful papers have been selected for the analysis and the final 60-paper sample has been studied by means of con-tent analysis and descriptive statistics. The relevant findings have been reported across categories (i.e. value drivers, practices and measures, contextual drivers, and critical issues), such as increasing the use of KPIs supporting sustainable de-velopments and a dichotomy between qualitative and quantitative indicators. In particular, authors revealed the need for a KPI strategical formulation and for a cultural factor aimed at ensuring the effective integration of quantitative, qualita-tive and sustainable development indicators. Therefore, a conceptual model was developed in order to guide managers through the criticalities and the recently reported requirements. This review addresses the KPIs? implementation from both a systemic and critical point of view; these aspects made our study really useful for practitioners of all application sectors. Classification-JEL: M41 Keywords: Note: Pages:117-151 Volume: 2022/1 Year: 2022 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=70951&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2022-001004 Number: 4 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=70951 Template-type: ReDIF-Article 1.0 Author-Name: Raffaele Fiume Author-Name: Tiziano Onesti Author-Name: Giulia Cordero di Montezemolo Author-Name: Matteo Strada Title: Dialogue with standard setters. Climate change and Financial reporting Abstract: Classification-JEL: Keywords: Note: Pages:155-166 Volume: 2022/1 Year: 2022 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=70952&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2022-001005 Number: 5 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=70952 Template-type: ReDIF-Article 1.0 Author-Name: Roberto Di Pietra Author-Name: Stefano Zambon Title: Book Review. Lorenzo Simoni, Business Models and Corporate Reporting: Defining the Platform to Illustrate Value Creation, Routledge, 2022 by Sam Rawsthorne Abstract: Classification-JEL: Keywords: Note: Pages:167-172 Volume: 2022/1 Year: 2022 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=70953&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2022-001006 Number: 6 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=70953 Template-type: ReDIF-Article 1.0 Author-Name: A cura della Redazione Title: 2021 Reviewers Abstract: Classification-JEL: Keywords: Note: Pages:173-173 Volume: 2022/1 Year: 2022 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=70954&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2022-001007 Number: 7