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This study examines investigating the relationship between cash flows, working capital ratios and firm performance during the global financial crisis.

To examine the relationship between cash flow, working capital ratios and firm performance for EU-28 or Western European Countries (Norway, Turkey and Switzerland) listed firms, both panel and ordinary least squares (OLS) regression model are used to analyze the data obtained from sample.

The study empirical findings suggest that global financial crisis has negative effect on firm performance for all sample. In addition, our interaction term result shows that cash flows variables such as cash holding level (CHL) × Crisis, cash interactive effect (CIE) × Crisis and gross working capital ratio (GWC) × Crisis not contributed to firm performance for EU-28 listed firms. However, the authors find that net working capital ratio (NWC) × Crisis have statistically significant and positive effects on firm performance with return on assets (ROA).

The findings of the study provide evidence for managers that listed firms have reduced working capital expenditures to increase cash holdings level during the financial crisis. The authors find that cash flow variables with CHL have positive effect on firm performance with return on equity (ROE) in Western European Countries and these results are consistent with Opler et al. (1999)'s empirical results, while CIE have a negative impact on firm performance such as ROE and earnings before interest tax margin (EBITM).

Global financial crisis emphasizes the importance of working capital and liquidity that suggests an efficient cash holdings policy in response to the uncertainty following the crisis.

The purpose of this study is to focus on, namely, the international financial reporting standards (IFRS) or local generally accepted accounting principles (GAAP) effects of financial reporting as a corporate governance mechanism on mergers and acquisitions (M&As) for banking institutions during the global financial crisis.

I investigate the characteristics of bank financial statements before the start of the global crisis, which helps to explain the relationships between the accounting standards and the global financial crisis. The observations, which are based on 3,178 deals in a sample period, are crucially important for corporate governance and bank performance. The results from our analysis are robust to a wide variety of modifications in our research design and are corroborated by descriptive statistics, one-way ANOVA and a two-sample t-test on a sample of banks that voluntarily adopted IFRS for M&As.

The find that IFRS-based monitoring of banks M&As in terms of higher quality financial reporting is negatively linked with bank performance, whereas local GAAP-based monitoring of banks’ M&A is positively associated with accounting performance. Finally, our main results for higher quality financial reporting under local GAAP or IFRS generally hold after controlling for various analyses and relationships between account standards and the financial crisis.

Financial reporting standards setting a corporate governance mechanism are considered since it was impacted recently during the global financial crisis and became a great matter of concern.

The value of this paper is determined by an empirical investigation of the relationships between bank performance and accounting and financial reporting standards in the context of the global economy.

This paper examines the determinants of happiness index ratings in European countries over 8 time points using unique data from the Eurostat, World Bank and World Happiness Reports.

To examine the determinants of happiness index ratings for EU-27 countries over the period 2012–2019, panel ordinary least square and quantile regression model are used to data obtained from all sample.

Evidence from European data on happiness index generate some important key outcomes; economic outcomes levels with both current taxes and inflation rate have a positively relationship on happiness index ratings (HIR), while total employment rate has a significant negativity on HIR. Additionally, in a quantile panel regression of 27 countries, the impact of financial inclusion on happiness index looks to change with a country's level of income. On the macroeconomic level, gross domestic product (GDP) improves the happiness index for the individual under certain conditions. Thus, GDP on 0.25th quantile levels positively and significantly impacts the HIR for leader countries.

Empirical evidence suggests that macro-economic variables and the labor market proxies of the countries play a key role in determining HIR as well.

The study extends the literature on developed countries and suggestions a particular perspective on the relationship between economic outcomes and happiness index. This study offers two main originalities: it simultaneously examines the “happiness-macroeconomic level” and “happiness-employment status dimension”, and it uses a quantile regression approach, including financial inclusion variation.

This study aims to reveal to what extent successful European listed firms depend on their intellectual capital investment in achieving business success during the global financial crisis.

This study used value added intellectual coefficient (VAIC) methodology to measure the effect of intellectual capital on financial performance of business, which consist of 683 the sample listed firms. To examine the nexus between intellectual capital, legal origin and firm performance, estimated panel test and ordinary least squares regression model is used to data obtained from a sample of European countries.

The finding of this study suggests that there exists a positive relationship between intellectual capital and firm performance with return on assets (ROA) before the financial crisis, while firm performance with return on equity did not contribute to intellectual capital before and after the crisis period. Additionally, common law countries have a positive and statistically significant impact on firm performance with ROA for the before-crisis period, while code law countries have positively significant effect with VAIC on ROA.

The VAIC method has played a critical role in the management decision-making process to integrate the intellectual capital in the financial crisis period.

This study examines intellectual capital components such as human capital, structural capital and process capital efficiencies and firm performance in the legal origin context. The empirical evidence shows that there are significant impacts of legal origin on the nexus between intellectual capital and performance of listed firms during the global financial crisis.

The purpose of this paper is to explore whether the choice of International Financial Reporting Standards (IFRS) vs Generally Accepted Accounting Principles (GAAP) is associated with the frequency and likelihood of accounting irregularities and fraud in US banks.

The authors examine the relationship between financial reporting standards and accounting irregularities in publicly listed US banks. Using a sample of 4,284 banks with accounting irregularities observed in the USA over the period of 1996–2014. They used logit model to estimate the likelihood of corporate misreporting having been committed in terms of accounting irregularities.

The authors show that banks that use US GAAP exhibit better operating performance than fraudulent banks that use IFRS except for certain variables. They also find that fraudulent banks are more likely to commit accounting irregularities when they have to follow IFRS and banks have relatively better bank performance.

Overall, the empirical findings result consistent with Kohlbeck and Warfield’s (2010) find that accounting standards are linked to fewer accounting irregularities.

In this study, accounting irregularities have a significant effect on bank performance during the Dodd–Frank period. It finds that banks that choose to use IFRS are more likely to have accounting irregularities and to engage in fraud.

This study examines the relationship between working capital management and business performance.

The relationship between the working capital management and business performance is examined using panel data analysis for a sample of EU-28 listed firms for the period from 2003 to 2012. To examine this relationship, an ordinary least squares (OLS) regression model is used to analyze the data obtained from the sample. The dependent variable consists of three measurements, namely return on asset (ROA), return on equity (ROE) and earnings before interest and taxes margin (EBITM), which are used as proxies for accounting-based measures of performance.

The authors examined the aforementioned relationship during the 2008 financial crisis. The OLS regression analysis suggests that there is a negative relationship between gross working capital and business performance for code law countries. The results also show that liquidity measures estimated by current ratio have a statistically significant impact on business performance indicated by ROA for all EU countries. The 2008 financial crisis had a significantly negative impact on ROA. Additionally, the findings regarding financial inclusion show a negative relationship between gross working capital and business performance among EU and other performer countries.

Overall, the empirical findings are consistent with Afrifa's (2016), who suggests that cash flow should increase investment in working capital to improve performance indicated by EBITM for old EU members.

While many empirical studies investigate the relationship between working capital and firm profitability, most do not consider the impact of the 2008 financial crisis apart from Tsurate (2019). The authors examine whether legal origins are important determinants of working capital management policies and business performance. Thus, empirically, the code law countries have a negative relationship between gross working capital, business performance and EBITM.

The study aims to identify whether international financial reporting standards (IFRS) or local generally accepted accounting principles (GAAP) reporting provides investors and senior management of acquirer banks with superior information on target banks under post-merger bank performance.

The authors examine the claim that IFRS improves corporate transparency and increases financial reporting quality in European Bank merger and acquisitions (M&As). The authors compare the financial performance of merged banks where the target and acquirer banks employed the same reporting system (up to 305 merged banks) to the performance of a control group of banks not engaged in M&A activity (up to 1,690 European banks).

Local GAAP reporting allows a more transparent assessment of financial performance using traditional indicators, making it a superior tool for assessing potential acquisition targets.

Overall, the empirical findings are consistent with prior studies and indicate a significant relationship between local GAAP and post-merger performance, while IFRS does not contribute to post-merger bank performance.

The study is one of the very few studies to investigate the relationship between bank performance, M&A activity and accounting standards in EU-28 countries. The primary contribution the finding of poor performance of IFRS reporting merged banks compared to local GAAP banks in EU-28 countries in line with prior results of Huian (2012). In addition, several deal- and bank-specific characteristics that affect accounting standards influence M&A transactions in European banks.

The aim of this paper is to provide a comprehensive and detailed review of the state-of-the-art mechanisms of knowledge sharing in the education field as well as directions for future research.

In the current study, a systematic literature review until June 2017 is presented, which has been on the education’s mechanisms of knowledge sharing. The authors identified 237 papers, which are reduced to 71 primary studies through the paper selection process.

By providing the state-of-the-art information, the challenges and issues, this survey will directly support academics, researchers and practicing professionals in their understanding of knowledge sharing developments in education.

There are several limitations in this study. First, this study limited the search for articles to Google scholar and four online databases. There might be other academic journals, which may be able to provide a more comprehensive picture of the articles related to the knowledge sharing in education. Second, non-English publications were excluded from this study. The authors believe research regarding the application of knowledge sharing techniques have also been discussed and published in other languages. In addition, more studies need to be carried out using other methodologies such as interviews.

The paper presents a comprehensive structured literature review of the articles’ mechanisms of knowledge sharing in the education field. The paper’s findings can offer insights into future research needs.

The purpose of this paper is to examine the impact of working capital management (WCM) on profitability under different financial conditions (constraint/unconstraint) and WCM policy (aggressive/conservative). Furthermore, the study investigates the existence of optimal working capital levels under different financial conditions and WCM policy.

Two-step system generalized method of moments and fixed effect models are used to analyze the data collected from Prowess database from 2011 to 2020 for a sample of 1,104 Indian manufacturing companies.

The study finds an inverted U-shaped relationship between working capital and profitability in all financial conditions and working capital policy. This finding advocates the existence of an optimal level of working capital that equates the costs and benefits of holding working capital to maximize the companies’ profitability. However, holding working capital beyond the optimal level negatively affects profitability. Companies under financial constraints with aggressive working capital policies have the lowest optimal cash conversion cycle (CCC). Furthermore, the relationship of working capital with profitability and the optimal CCC varies owing to firm age and industry group.

To the best of the authors’ knowledge, this is the first paper that incorporates the impact of working capital on firm’s performance from both financial constraint (unconstraint) and aggressive (conservative) working capital policy perspectives in the Indian context. Furthermore, this study also contributes in terms of reflecting the effect of firm age and industry in determining the optimum CCC of the firms.