Purpose -While many studies focusing on work values have been conducted, few of them were specifically focused on generational differences within the hospitality context. This study aims to explore the structure of hospitality management work values and the perceived differences among three generations of managers and supervisors in the hospitality industry. Design/methodology/approach -A survey of 398 managers and supervisors from hospitality organizations in the USA was conducted. Findings -A total of 15 work values were identified along with their hierarchical order. A fourdimensional (comfort and security, professional growth, personal growth, and work environment) work value structure shared by hospitality workforce and generational differences in work values of the hospitality industry were found.Research limitations/implications -The findings of this study are limited to a managerial workforce of the hospitality industry in a US tourism destination. Practical implications -Implications are drawn for industry to recruit and retain the managerial workforce using strategies designed to meet the preferences and needs perceived by three generations of managerial workforce. Originality/value -There are three unique contributions: the uncovering of different priorities in work values across the three-generation hospitality managers; the revelation of the four underlying dimensions of the structure of work values that represent the uniqueness of work values perceived by the hospitality managerial workforce; and the discovery of generational differences in work values in two of the four dimensions (i.e. personal growth and work environment) and the generational preference shift. These findings might contribute to the justification for different recruitment and retention strategies among various sectors of the hospitality industry according to generational value shifts.

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Prior research using the residual income valuation model and linear information models has generally found that estimates of firm value are negatively biased. We argue that this could result from the way in which accounting conservatism effects are reflected in such models. We build on the conservative accounting model of Feltham and Ohlson 1995 and the Dechow, Hutton, and Sloan 1999 (DHS) methodology to propose a valuation model that includes a conservatism-correction term, based on the properties of past realizations of residual income and "other information". "Other information" is measured using analystforecast-based predictions of residual income. We use data comparable to the DHS sample to compare the bias and inaccuracy of value estimates from our model and from models similar to those used by DHS and Myers 1999. Valuation biases are substantially less negative for our model, but valuation inaccuracy is not markedly reduced. Prudence des pratiques comptables et modèles d'information linéaire appliqués à l'évaluation CondenséSelon le modèle d'évaluation du résultat net résiduel, la valeur intrinsèque des capitaux propres d'une société équivaut à la somme de leur valeur comptable et de la valeur actualisée du résultat net résiduel futur prévu. Les modèles d'information linéaire (MIL) représentent le résultat net résiduel futur prévu sous la forme d'une fonction linéaire du résultat net résiduel

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Non-generally accepted accounting principles (non-GAAP) earnings reporting has been linked with both informative and strategic incentives. We seek to disentangle these conflicting effects by examining the association between non-GAAP earnings disclosure and transitory items in GAAP earnings, conditional on managers' reporting incentives. We report evidence of a statistically and economically significant asymmetric relation between disclosure propensity and transitory items in GAAP earnings conditional on both the sign and magnitude of the GAAP earnings surprise. Our findings suggest that non-GAAP earnings disclosures tend to be driven by a desire for informative (strategic) reporting when GAAP earnings beat (undershoot) market expectations.

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When producing International Financial Reporting Standards (IFRS), one of the main goals of the International Accounting Standards Board (IASB) was to create a set of standards which were more useful to investors as a predictive tool. We assess the success of the IASB in achieving this goal by investigating the effects of the introduction of IFRS on the relative information content of reported earnings and forecasted earnings under UK generally accepted accounting practices (GAAP) and IFRS. Results indicate that the value relevance of forecasted earnings is significantly lower under IFRS while the value relevance of reported earnings is significantly larger. These findings suggest that IFRS substitutes price‐relevant information previously provided to the market in the form of analyst forecasts with information encoded by companies in their reported earnings. This implies that the IASB was indeed successful in its stated goal and points towards IFRS forecasts being more accurate and less dispersed than UK GAAP forecasts. This, in turn, implies that analysts are able to provide more informative forecasts under IFRS than under pre‐IFRS regimes and that the aforementioned substitution effect is not a consequence of any decrease in the quality of forecasts under the new regime.