Browsing by Author "Ernfjord, Kalle"

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Corporate Social Responsibility (CSR) Disclosure and Earnings Management
(2018-07-02) Ernfjord, Kalle; Voigt, Maria; University of Gothenburg/Graduate School; Göteborgs universitet/Graduate School
This study examines the relationship between CSR reporting and financial reporting. Specifically, we hypothesize that firms with extensive CSR disclosure have lower levels of earnings management (EM), and that such firms thereby provide more transparent financial reports compared to other firms. We argue that CSR disclosure is associated with ethical and cultural forces, that can constrain EM. We also argue that CSR disclosure is associated with an increase in external monitoring pressures and reputational considerations, which mitigates EM. We use discretionary accruals as a proxy for EM, and we measure CSR disclosure with two dummy variables and three variables derived from a content analysis. In our bivariate analyses, we find a negative and significant relationship between CSR disclosure and EM, across all our CSR variables. In our multivariate regression analysis, we find significant results for one CSR variable. Specifically, we find that firms that issue a separate CSR report are less likely to engage in accruals manipulation.
Ohållbar marknadskommunikation av seriösa hållbarhetsaktörer: en fallstudie av H&M och Max
(2014-07-02) Jartin, Anna; Ernfjord, Kalle; University of Gothenburg/Department of Business Administration; Göteborgs universitet/Företagsekonomiska institutionen
Problem: Companies engage in serious sustainability work, but there is reason to believe that this is not reflected in their market communication. As companies wait for the market to show an increased interest in sustainable products, changes in market communication tend to be conservative. Purpose: The main purpose of this paper is to investigate whether companies in the fast fashion and the fast food industries are engaged in serious sustainability work at the same time is using unsustainable market communication. Part of this work is to compile a basic definition of unsustainable market communication based on theory. Method: A qualitative approach was used, in which a case study, based on picture analysis, was conducted with empirical data taken from the companies‟ market communication. Theory: The theoretical framework is based in theories concerning market communication, sustainability aspects and consumerism. Result: The empirical data presented in the case study report is based on the image analysis performed on the market communication material, in the form of commercials, and the analysis model that was constructed. Analysis: The empirical data was compared to the theories used in the theoretical framework, and the results were analyzed to find overall similarities within the companies‟ market communication. Conclusion: Companies in the fast fashion and the fast food industries engaged in serious sustainability work can simultaneously use an unsustainable market communication, as defined in this work.
Readability in sustainability reporting before and after the financial crisis of 2008
(2015-01-16) Ernfjord, Kalle; Gustafsson, Carl; University of Gothenburg/Department of Business Administration; Göteborgs universitet/Företagsekonomiska institutionen
Problem: Sustainability reporting is becoming more and more of a standard business practice. However, during the financial crisis of 2008, many companies experienced hard times from an economic perspective. This could have led to a decrease, an increase or no effect on the level of readability in sustainability reporting. Ameer and Bakar (2010) concluded that Malaysian companies tend to obfuscate their sustainability communication by adjusting the readability. Purpose: The purpose of this study is to examine how readability and amount of disclosure in sustainability reporting changed in Sweden during the financial crisis of 2008. Method: The Flesch Reading Ease formula was used to estimate the level of readability and the amount of disclosure was measured in number of words. Two samples containing the same 34 large and publicly listed companies were examined for 2006 and 2010. Statistical tests, in terms of Wilcoxon signed-rank test and the matched pairs t-test, were applied to the data in order to determine whether a significant difference was present between the years. Theoretical framework: Readability, obfuscation, stakeholder theory and legitimacy theory are presented in the theoretical framework. Results: The mean Flesch Reading Ease ratings increased from 32,8 in 2006 to 34,1 in 2010, however there was no significant difference. The mean number of words increased from 2600 words in 2006 to 7205 words in 2010. This difference was statistically significant. Analysis: The results were interpreted in relation to the theoretical framework. Conclusion: Readability, measured in Flesch Reading Ease, did not change during the financial crisis of 2008, while the amount of disclosure increased. This implies that overall no obfuscation was present.