Purpose The purpose of this paper is to examine sharing economy online marketplaces with the aim of understanding how trust perceptions form and get communicated through sharing economy platforms. Design/methodology/approach The authors build on online user comments and reviews as aggregated by independent third-party websites, and apply a qualitative analysis. Findings The findings show that the quantity of information and communication are important drivers towards building trust perceptions, while an overall lack of interaction between users and the marketplace provider intensifies perceived risks. Originality/value The authors validated the importance of trust and the authors have illustrated that the critical conditions that hinder trust formation are information asymmetry as well as the lack of interaction. What is also an interesting implication is that the impact of both of these can be exacerbated when there is a perceived lack of support among users and between them and the marketplace operator.
The recent Maystadt report (2013) challenged the European Parliament to modify governance arrangements surrounding the design and endorsement of international financial reporting standards (IFRS) issued by the International Accounting Standards Board (IASB). In addition the Maystadt report constructs an argument that accounting information has the capacity to also modify behaviour and that this might not be conducive for the European public good, financial stability and economic development. In this paper we argue that IFRS need to be stress tested for their impact on firm-level financial stability in a financialized world. The financialized firm can revalue a range of assets to their market value crystalizing future earnings into current values but these valuations can become impaired. Asset value impairments will be charged to shareholder equity but this is being hollowed out because a higher proportion of earnings are being distributed to shareholders. Accounting disclosures are not only an information feed to users they inform the stewardship and control of a firm’s resources and in the financialized firm the potential for financial instability is heightened and this can translate into a moral hazard for society.
The conjuncture that ushered in the era of shareholder value served to embed capital market expectations into corporate governance aligning management and shareholder interests. Market arbitrage focussed on modifying contractual relations with stakeholders to extract a (higher) return on invested capital. In this article we focus on cash earnings on capital employed generated by the S&P 500 survivor group of firms covering the period 1990-2008. We use this financial data to construct three complementary perspectives on corporate financial performance: firm, firm-relative and macro. Within this framework the financial numbers and perspectives are analogous to a hall of mirrors where ambiguity and contradiction are in play frustrating the construction of straightforward narratives about strategic purpose and financial outcome. Rather than abandon the approach we argue it has technical merit because it provides the basis to construct alternative critical narrative(s) that explore the limits to strategic purpose and corporate financial transformation in an era of shareholder value.
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