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Colouring the numbers – on the role of intellectual capital in financial reporting
Stockholm University, Faculty of Social Sciences, Stockholm Business School.
2013 (English)In: Journal of Intellectual Capital, ISSN 1469-1930, E-ISSN 1758-7468, Vol. 14, no 3, 376-394 p.Article in journal (Refereed) Published
Abstract [en]

Purpose – The aim of this paper is to explore how managers are mobilising IC items when approaching their investors and analysts. To this date, there is a lack of knowledge surrounding the translation processes of IC, from corporate disclosures to the capital market. Little is known of how managers mobilise their IC in order for analysts and investors to embrace it and consider it to be a relevant part of corporate disclosures.

Design/methodology/approach – The study applies a performative approach to IC, in which framing theory is mobilized to understand the duality of financial indicators. The empirical material was collected through a case study approach, focusing on the interim reporting practices of a Swedish online gaming company. The study investigated a total of 16 earnings announcements and their accompanying conference calls in the period of 2008-2011. In addition, five interviews with top managers and financial analysts were performed.

Findings – The findings suggest that IC is highly dependent on financial indicators and can therefore not be treated as the opposite of financial capital. Instead of complementing financial capital, IC is the symptomatic quality of financial indicators, i.e. a way to make sense, contextualise and reconnect a disentangled representation with empirical phenomena.

Originality/value – This paper introduces a new way of viewing IC disclosures, expanding the knowledge and methodology in IC research. The paper also highlights the study of an important disclosure, expanding research on IC disclosures beyond annual reports. Finally, it offers practitioners additional insights in the communication of non-financials to the capital market.

Place, publisher, year, edition, pages
2013. Vol. 14, no 3, 376-394 p.
Keyword [en]
Intellectual capital, Disclosure, Performativity, Framing, Earnings announcement, Conference call, Information disclosure, Earnings
National Category
Business Administration
Research subject
Business Administration
Identifiers
URN: urn:nbn:se:su:diva-94828DOI: 10.1108/JIC-03-2013-0037OAI: oai:DiVA.org:su-94828DiVA: diva2:656389
Available from: 2013-10-15 Created: 2013-10-15 Last updated: 2017-12-06Bibliographically approved
In thesis
1. The Pursuit of Relevance: Studies on the Relationships between Accounting and Users
Open this publication in new window or tab >>The Pursuit of Relevance: Studies on the Relationships between Accounting and Users
2016 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

Relevance has become one of the key priorities for accounting policy, and implies that accounting should have an impact on the economic decision-making of accounting users. Despite the increased importance given to users, however, little is known concerning the properties of such relevance in practice. Furthermore, the lack of insight into the practices of users has been mitigated with a theoretical perspective of decision-making which supports an insufficient understanding of how stock markets function and how accounting users behave.

This dissertation contributes to the emerging interest in the sociology of financial analysis by following users in their pursuit of relevance. By theorising financial analysis as a social and institutional practice, this dissertation investigates not only how accounting is relevant but also how such relevance is influenced by the particular setting of accounting users. Furthermore, the understanding of relevance as located within the activities leading up to a decision is here extended by emphasising the continuous activities of users and therefore also the role of accounting in the management of their decisions.

Based on in-depth field studies targeting the activities of (sell-side) equity research analysts and equity sales brokers, this dissertation presents four papers addressing different notions of accounting, users and relevance. Theoretical insights are drawn from sociology and include actor-network theory, dramaturgy and text-and-conversation-theory. The studies find that the organisation of the sell-side industry necessitates a use of accounting which accentuates the links between accounting, users and investments recommendations. This dissertation concludes that, in order to produce and sustain such links, relevance becomes (a) mediated by a variety of elements, (b) based on the production of differences, and (c) mutually constitutive for accounting and users. 

Place, publisher, year, edition, pages
Stockholm: Stockholm Business School, Stockholm University, 2016. 75 p.
Keyword
Accounting, Information, Relevance, Financial analysis, Social and Institutional Practice, Capital Markets, Sell-side, Analyst, Broker, Equity sales, Investment recommendations
National Category
Business Administration
Research subject
Business Administration
Identifiers
urn:nbn:se:su:diva-133275 (URN)978-91-7649-492-9 (ISBN)
Public defence
2016-10-27, Gröjersalen, hus 3, Kräftriket, Roslagsvägen 101, Stockholm, 13:00 (English)
Opponent
Supervisors
Note

At the time of the doctoral defense, the following papers were unpublished and had a status as follows: Paper 2: Manuscript. Paper 3: Manuscript. Paper 4: Manuscript.

 

Available from: 2016-10-04 Created: 2016-09-05 Last updated: 2016-09-23Bibliographically approved

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