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Journal of Management and Governance

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07.07.2015

Does business model affect accounting choices? An empirical analysis of European listed companies

verfasst von: Ugo Lassini, Andrea Lionzo, Francesca Rossignoli

Erschienen in: Journal of Management and Governance | Ausgabe 2/2016

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Abstract

Financial accounting research increasingly includes business model (BM) constructs, but the ability of financial reporting to capture BM characteristics has not been verified. This study empirically explores the links between BMs and accounting choices by clustering a sample of 103 European listed companies according to an innovative, nonlinear algorithm (self-organizing map) that uses pertinent industrial, strategic, governance, and financial variables to uncover different dimensions of a BM. The authors investigate accounting choices (accounting measurement, accounting treatment, and disclosure level) by companies that belong to the different identified BMs. The analysis of the relations between different company BMs and their accounting choices indicates no significant connections, which offers empirical confirmation of the criticisms regarding the inability of financial reporting to represent (or even consider) a company’s BM. The results suggest further attempt to capture BM in financial reporting, which requires regulators to establish accounting standards that acknowledge the value creation processes of an entity and incentivize managers to represent those processes.

Vorheriger Artikel Corporate governance as custodianship of the business model

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We excluded finance companies (e.g., banks and insurance firms), which use different accounting principles.

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The SOM algorithm is trained iteratively, and the variables are connected to adjacent ones by a neighborhood relation. At each training step, a sample vector is randomly chosen from the input data set. To select the best matching unit across different partitions, various validity indexes have been used (Bezdek and Pal 1998). This approach helps reduce noise in the data and thus limits outlier points (Silva and Marques 2010).

We verified that the results remained the same when we checked for industries and for countries; that is, belonging to different industries or countries did not affect accounting choices.

The average scores of each accounting choice are computed over the analyzed 3 years. We verified that the results remained the same when we checked for each year in the analyzed period.

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Titel: Does business model affect accounting choices? An empirical analysis of European listed companies
verfasst von: Ugo Lassini
Andrea Lionzo
Francesca Rossignoli
Publikationsdatum: 07.07.2015
Verlag: Springer US
Erschienen in: Journal of Management and Governance / Ausgabe 2/2016
Print ISSN: 1385-3457
Elektronische ISSN: 1572-963X
DOI: https://doi.org/10.1007/s10997-015-9321-5

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