L’utilizzo dei grafici nei bilanci delle aziende europee durante la recente crisi finanziaria

This dissertation investigates the use of graphs in the European annual reports during the recent financial crisis. By analysing the top firms headquartered in France, Germany, Italy and the UK and by comparing the period pre-crisis and the period during the crisis, this study provides a longitudinal and comparative analysis. An influence of the institutional context on the use of key performance indicators (KPIs) graphs is found. Moreover, a “status quo” behaviour of the firms seem to explain the graphs’ usage over time. In contrast with previous studies that have showed that graphs are used selectively to portray a more favourable picture of the firm’s performance, this study shows that KPIs graphs are not used selectively during the recent financial crisis. In line with impression management theories, firms are more likely to distort KPIs graphs favourably than unfavourably. Finally, the number of financial analysts is found to positively affect both KPIs graphs’ usage and selectivity. This dissertation provides both theoretical and practical contributions. From an academic perspective, this study investigates the use of graphs in the annual reports not only in line with impression management theories but also in line with other theories, like the incremental information perspective and the institutional theory. From a practical perspective, it provides suggestions to the annual reports’ readers and regulators. Readers should read and process the information within the graph carefully, especially because graphs are found to be distorted. Regulators should provide guidelines for a graph’s accurate usage, following the correct design standards.

Grantor dc:publisher

Università degli Studi di Cagliari

Year dc:date

2014

Author dc:creator

• ARESU, SIMONE

Contributors dc:contributor

• MELIS, ANDREA

• annual report
• financial analysts
• financial crisis
• graphs
• impression management
• institutional theory
• key performance indicators
• Settore SECS-P/07 - Economia Aziendale

Statement dc:rights

• info:eu-repo/semantics/openAccess
• license:Non specificato

Language dc:language

ita

Handle dc:identifier

http://hdl.handle.net/11584/266540

OAI identifier oai:identifier

oai:iris.unica.it:11584/266540