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Dive into the research topics where Charl de Villiers is active.

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Featured researches published by Charl de Villiers.


Journal of Management | 2011

The Effect of Board Characteristics on Firm Environmental Performance

Charl de Villiers; Vic Naiker; Chris J. van Staden

This study investigates the relationship between strong firm environmental performance and board characteristics that capture boards’ monitoring and resource provision abilities during an era when the natural environment and the related strategic opportunities have increased in importance. The authors relate the proxy for strong environmental performance to board characteristics that represent boards’ monitoring role (i.e., independence, CEO-chair duality, concentration of directors appointed after the CEO, and director shareholding) and resource provision role (i.e., board size, directors on multiple boards, CEOs of other firms on the board, lawyers on the board, and director tenure). The authors provide evidence consistent with both theories of board roles. Specifically, consistent with their agency theory–driven predictions, the authors find evidence of higher environmental performance in firms with higher board independence and lower concentration of directors appointed after the CEO on the board of directors. Consistent with resource dependence theory, they show that environmental performance is higher in firms that have larger boards, larger representation of active CEOs on the board, and more legal experts on the board. Their findings are generally robust to a number of sensitivity analyses. These findings have implications for managers, firms, shareholders, and regulators who act on behalf of shareholders, if they are interested in influencing environmental performance.


Accounting, Auditing & Accountability Journal | 2014

Integrated reporting : insights, gaps and an agenda for future research

Charl de Villiers; Leonardo Rinaldi; Jeffrey Unerman

Purpose – The purpose of this paper is to synthesise insights from accounting and accountability research into the rapidly emerging field of integrated reporting and proposes a comprehensive agenda for future research in this area. In so doing, it draws upon insights from other papers in this special issue of Accounting, Auditing and Accountability Journal on the theme of integrated reporting. Design/methodology/approach – The paper draws upon and synthesises academic analysis and insights provided in the embryonic integrated reporting academic literature in conjunction with policy pronouncements. Findings – The paper shows that the rapid development of integrated reporting policy, and early developments of practice, present theoretical and empirical challenges because of the different ways in which integrated reporting is understood and enacted within institutions. It highlights many areas where further robust academic research is needed to guide developments in policy and practice. Research limitations/...


Meditari Accountancy Research | 2012

The value relevance of corporate responsibility reporting: South African evidence

Marna de Klerk; Charl de Villiers

Purpose - Corporate responsibility reporting (CRR) deals with companies’ ethical, economic, environmental, and social impacts. The purpose of this paper is to contribute to the debate on whether CRR is associated with the information set that shareholders use to value a companys equity and therefore, the value-relevance thereof for investment decision making. Design/methodology/approach - The paper uses a modified Ohlson model developed by Hassel, Nilsson and Nyquist to examine the role of CRR in providing information to shareholders that may affect their valuation of a company. The paper uses two data sets, namely a KPMG dataset on the CRR of the top 100 South African companies and the McGregor BFA database for financial data. Findings - It was found that the share prices of companies with higher levels of CRR are likely to be higher. Originality/value - Prior research in which different valuation methods and different assessment periods were used was conducted in different developed countries. Some studies show value relevance, while others do not. South Africa is a developing country and by bringing a developing country to the literature the authors’ aim is to contribute to the current debate on the value relevance of CRR.


European Accounting Review | 2016

Are CSR Disclosures Value Relevant? Cross-Country Evidence

Steven F. Cahan; Charl de Villiers; Debra C. Jeter; Vic Naiker; Chris J. van Staden

Abstract Using proprietary data that rate corporate social responsibility (CSR) disclosures of firms in 21 countries, this study examines how the strength of nation-level institutions affects the extent of CSR disclosures. We then examine the valuation implications of CSR disclosures and consider how the relation between CSR disclosures and firm value varies across countries. In contrast to prior studies, we separate CSR disclosures into an expected and unexpected portion where the unexpected portion is a proxy for the incremental information contained in CSR disclosures. We observe a positive relation between unexpected CSR disclosure and firm value measured by Tobins Q. We also find that, while countries with strong nation-level institutions promote more CSR disclosures, the valuation of a unit increase in unexpected CSR disclosures is higher when nation-level institutions are weak.


Accounting and Business Research | 2016

Corporate Social Responsibility: Country-Level Predispositions and the Consequences of Choosing a Level of Disclosure

Charl de Villiers; Ana Marques

We study the different levels of corporate social responsibility (CSR) disclosures of the largest European firms. We find that firms are more predisposed to disclose more CSR information in countries with better investor protection, higher levels of democracy, more effective government services, higher quality regulations, more press freedom, and a lower commitment to environmental policies. Our analysis of the association of different levels of CSR disclosure with share prices indicates that a high level of CSR disclosure is associated with higher share prices, whereas a low level of CSR disclosure in sensitive industries is associated with lower share prices (compared to no disclosure). These results are also present when we analyse changes in CSR disclosure and are robust to the inclusion of an accounting quality measure in our model. The overall effect of the association of higher levels of CSR disclosure with higher share prices is stronger in countries with more democracy, more government effectiveness, better regulatory quality, and more press freedom. Therefore, market participants find CSR disclosures more informative in countries where investors are in a better position to voice their concerns and where there is better regulation and more effective government implementation of regulations.


Accounting, Auditing & Accountability Journal | 2013

The accounting profession's influence on academe: South African evidence

Elmar R. Venter; Charl de Villiers

Purpose - – This paper aims to examine the influence of academics who are members of the profession on academic institutions. Design/methodology/approach - – An analytic autoethnography of the influence of accounting academics who are members of the profession on South African universities, supported by publicly available information, such as policy and other documents, web sites, and published material; documentation the authors are able to gather as participants; and formal and informal interviews the authors conduct with academic managers. Findings - – The paper finds that profession-identifying academics create and maintain rules and structures within academe, rules and structures that suit the profession. Managers who are members of the profession identify more closely with the profession than with their university. The analysis reveals the mechanics of this influence, as well as the consequences. Originality/value - – The paper contributes to theory by synthesizing the creation of profession-inspired institutions framework and the maintenance of an institutions framework into a single framework. It also applies the theory by providing an example of a profession creating and maintaining institutionalization in an adjacent institution. The findings have implications for academia in cases where academic staff members are members of professional bodies, such as engineering and law faculties. The insights highlighted here may also be of interest to Australasian, UK and US accounting academics, because the literature contains evidence of pressures from professional bodies there.


Pacific Accounting Review | 2015

The influence of corporate social responsibility disclosure on share prices Evidence from the United Kingdom

Marna De Klerk; Charl de Villiers; Chris J. van Staden

Purpose – The purpose of this paper is to examine the association between share prices and the level of corporate social responsibility (CSR) disclosure of large UK companies, using CSR data from an independent firm and a time period and setting (the UK) that coincides with increased legislation and increased public awareness of corporate social and environmental issues. Against a background of increased interest by investors in CSR disclosure, prior mixed results on the association between CSR disclosure and share prices suggest the need for further research that overcome some of the identified limitations of the extant literature. Design/methodology/approach – A modified Ohlson (1995) model is used to examine the relationship between CSR disclosure and share prices among the 100 largest UK companies. Three different measures of CSR disclosure are used to ensure robustness of results. Findings – The paper finds that higher levels of CSR disclosure are associated with higher share prices. Furthermore, the...


Meditari Accountancy Research | 2017

Developing a conceptual model of influences around integrated reporting, new insights and directions for future research

Charl de Villiers; Pei-Chi Kelly Hsiao; Warren Maroun

Purpose This paper aims to develop a conceptual model for examining the development of integrated reporting, relate the articles in this Meditari Accountancy Research special issue on integrated reporting to the model and identify areas for future research. Design/methodology/approach The paper uses a narrative/discursive style to summarise key findings from the articles in the special issue and develop a normative research agenda. Findings The findings of the prior literature, as well as the articles in this special issue, support the conceptual model developed in this paper. This new conceptual model can be used in multiple ways. Originality/value The special issue draws on some of the latest developments in integrated reporting from multiple jurisdictions. Different theoretical frameworks and methodologies, coupled with primary evidence on integrated reporting, construct a pluralistic assessment of integrated reporting, which can be used as a basis for future research. The new conceptual model developed in this paper can be used as an organising framework; a way of understanding and thinking about the various influences; a way of identifying additional factors to control for in a study; and/or a way of identifying new, interesting and underexplored research questions.


Managerial Auditing Journal | 2013

Audit Fee Stickiness

Charl de Villiers; David Hay; Zhizi Zhang

Purpose - – This study aims to contribute to the understanding of audit pricing and the competitiveness of the audit fee market by examining audit fee stickiness. Design/methodology/approach - – The authors explore the price behavior of audit fees in response to changes in the variables that are usually seen as their determinants, such as size, complexity, and risk in order to examine audit fee stickiness and the competitiveness of the market for audit services. Findings - – The authors find that audit fees are sticky, i.e. audit fees do not immediately or fully adjust to changes in their determinants. Audit fees also respond to changes leading to an increase more quickly than they respond to changes leading to a decrease. The difference between positive and negative fee adjustments declines over periods longer than one year and is no longer significant when four-year periods are considered. Research limitations/implications - – The study is limited to companies in the USA from 2000 to 2008. Future research should examine this issue in other settings and periods. Practical implications - – The results suggest that the audit market is competitive, at least in the medium term. Originality/value - – The study helps to explain why the audit fee model does not fully explain the level of audit fees; why audit fees are more likely to be too high than too low; and why auditor switches are commonly associated with larger changes in audit fees. The findings provide evidence that may be useful to managers and audit committees when managing their audit fees, auditors when considering the risks and opportunities associated with changes in the determinants of audit fees, and regulators concerned with the competitiveness of the audit market.


Pacific Accounting Review | 2015

Sustainability reporting integrated into management control systems

Jennifer Kerr; Paul Rouse; Charl de Villiers

Purpose – This paper aims to examine how three different organisations integrate sustainability reporting into management control systems (MCS). Design/methodology/approach – A case study examination of sustainability reporting integrated into MCS in three New Zealand organisations. Findings – The integration of sustainability reporting into MCS holds advantages for organisations to operationalise sustainability objectives, broaden stakeholder accountability as well as intensify interactions with stakeholders, formalise organisation beliefs and improve communication of sustainability measures internally. While frameworks such as the balanced scorecard (BSC) can facilitate implementation of sustainability reporting, some organisations may choose to fully integrate the latter into their management control system. Originality/value – Sustainability reporting is sometimes seen as an external reporting philosophy that can be managed as a separate project. The authors show it can be integrated into MCS, either ...

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Muhammad Bilal Farooq

Auckland University of Technology

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Paul Rouse

University of Auckland

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Warren Maroun

University of the Witwatersrand

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Binh Bui

Victoria University of Wellington

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David Hay

University of Auckland

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