Classification for regulated industries: A new index

Awasthi, Kshitij; Yayavaram, Sai; George, Rejie; Sastry, Trilochan

doi:10.1016/j.iimb.2019.01.002

Cited by 11 publications

(3 citation statements)

References 10 publications

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“…Finally, to address the issue of reporting heterogeneity across industries, the study re-estimated all of the equations while incorporating industry-fixed effects. To classify the sample firms by industry, the study utilized first two-digit National Industrial Classification (NIC) codes, which accurately reflect the firms' areas of operation, consistent with the prior literature (Awasthi et al, 2019;Singh et al, 2018;Daley et al, 1997). The results of these industry-fixed effect regressions were consistent with those of the previous analyses, and the inclusion of industry-fixed effects further strengthens the robustness of our analysis.…”

Section: Robustness Resultssupporting

confidence: 73%

Section: Resultsmentioning

confidence: 99%

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Does IFRS convergence affect the readability of annual reports by Indian listed companies?

Mohammad

Kumar

2023

JAAR

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PurposeThe purpose of this study is to investigate the influence of IFRS convergence on annual report readability in an emerging market context, with an emphasis on the contents of management discussion and analysis (MD&A), notes to the accounts (Notes) and the whole annual report.Design/methodology/approachThe study performs firm-fixed effect regression on a sample of 143 Indian listed companies over a period spanning from 2012 to 2021 to examine the influence of IFRS convergence on readability. This assessment primarily focuses on broader spectrums of readability dimensions, namely annual report length and complexity, wherein complexity is measured using the Gunning Fog, Flesch Reading ease and Flesch-Kincaid grade index.FindingsAs Indian firms shift to IFRS reporting, the findings suggest that annual reports have become significantly lengthier and more complex, causing deterioration in readability. The Notes section, in particular, exhibits the most significant increase in length and complexity, followed by the entire annual report and MD&A section. Furthermore, the findings also indicate that the complexity of the Notes section is instrumental in the observed complexity growth of the whole annual report in the post-IFRS period.Research limitations/implicationsThe current study employs readability indices rather than directly taking into consideration the opinions of actual users of annual reports to determine readability. As a result, the study does not provide direct evidence on how information in annual reports affects users' readability.Practical implicationsThe findings provide insightful information to managers and policymakers about the difficulties stakeholders may encounter while reading IFRS-based annual reports, which ultimately impact their investment decisions. Thus, there is an important managerial implication from this, depending upon the severity of complexity corporations participate in while complying with IFRS in the post-IFRS period.Originality/valueAnalyzing the influence of exogenous information shock, such as IFRS convergence, on readability is critical, particularly for emerging markets like India, where a lack of financial literacy and weaker enforcement already have detrimental effects on the capital market. In light of this, the current study provides a comprehensive examination of the impact of IFRS convergence on annual report readability and contributes to the growing IFRS literature in the less explored emerging market context.

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Section: Robustness Resultssupporting

confidence: 73%

Section: Resultsmentioning

confidence: 99%

Does IFRS convergence affect the readability of annual reports by Indian listed companies?

Mohammad

Kumar

2023

JAAR

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“…The medical device industry is one of the most regulated industries; it is regulated by laws that govern the safety and performance of devices across their lifetime, in their pre-and post-market lifecycle. Regulated manufacturing industries operate under government laws and regulations, while unregulated manufacturing industries do not operate under government rules and laws [2]. As a result, implementing continuous improvement methods such as Lean Six Sigma (LSS) in regulated manufacturing industries differs from unregulated manufacturing industries.…”

Section: Introductionmentioning

confidence: 99%

The Effect of Medical Device Regulations on Deploying a Lean Six Sigma Project

et al. 2022

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This paper investigates the differences in timelines involved in Lean Six Sigma (LSS) project deployment in a regulated industry versus in an unregulated one. Two case studies utilising Lean Six Sigma methods—in order to compare the transfer of manual manufacturing lines within a medical device and electronics manufacturing site—are discussed and utilised. This research aims to show the effects of regulatory procedures on LSS project implementation and timelines. This study particularly highlights how a regulatory environment can be a barrier, or bottleneck, to project management, continuous improvement, and engineering changes in the MedTech or medical device manufacturing industry. The results of this study represent an important first step towards a full understanding of the influence of regulations on operations in medical devices and, by extension, on pharmaceutical manufacturing industries on a global scale. The research limitations are that the data collected were from two specific case study comparisons alone.

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Results on the Role of PTA-DSMs for the Fragmentation of International Trade Law

Wasilczyk

2023

European Yearbook of International Economic Law

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Classification for regulated industries: A new index

Cited by 11 publications

References 10 publications

Does IFRS convergence affect the readability of annual reports by Indian listed companies?

Does IFRS convergence affect the readability of annual reports by Indian listed companies?

The Effect of Medical Device Regulations on Deploying a Lean Six Sigma Project

Results on the Role of PTA-DSMs for the Fragmentation of International Trade Law

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