Anita Mendiratta | University of Delhi (original) (raw)

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Papers by Anita Mendiratta

Global Journal of Flexible Systems Management

Global Business Review

The study investigates the impact of environment, social and governance (ESG) controversies on fi... more The study investigates the impact of environment, social and governance (ESG) controversies on firm performance in India. Utilizing a sample of 1,024 firm-year observations of Indian firms from 2007 to 2018, the study reports that ESG controversies reduce firm performance. Further, after introducing the interaction effect of government effectiveness, the ESG controversies maintain a similar negative influence on performance. Additionally, the interaction effect of government effectiveness and ESG controversies negatively affects performance in response to ESG controversies. The study conducts a sample-split analysis that indicates the moderation effect of government effectiveness is significantly negative only in the post-CSR mandate period. This study is novel in analysing insights on government effectiveness moderation impact on firm performance in response to ESG controversies.

Journal of Advances in Management Research

PurposeThis paper aims to assess the impact of corporate social irresponsibility (CSiR) media cov... more PurposeThis paper aims to assess the impact of corporate social irresponsibility (CSiR) media coverage on firm performance in India. It also analyses the effects of the environment, social, governance, and cross-cutting issues on firm performance.Design/methodology/approachThe paper utilizes a sample of Indian firms from the Reprisk® database, amounting to 1,103 CSiR media coverage counts for 693 firm-year annual observations from 2008 to 2015. Further, Reprisk® segregates comprehensive CSiR coverage counts into the environment, social, governance and cross-cutting issues, for which the study runs the fixed effects panel regression. The study takes year-fixed effects, industry-fixed effects and clustered standard errors at the industry level.FindingsThe results of this study indicate that CSiR coverage negatively influences the firm performance of Indian firms. All issues, including social, governance and cross-cutting, except environmental issues, negatively impact firm value in In...

Global Finance Journal, 2023

This study investigates whether, when, and how media coverage of environment, social, and governa... more This study investigates whether, when, and how media coverage of environment, social, and governance (ESG) controversies, type of media reach, and media severity affects firm value in India's emerging and developing market. By anchoring enacted sensemaking theory with agendasetting theory and attribution theory, we offer the first investigation of how firm value is impacted by the reach and severity of ESG controversies in the context of voice and accountability (VA). Drawing on a comprehensive dataset for 2007-2016, this study reveals the critical condition for ESG controversies to impact firm value. The media coverage of ESG controversies decreases firm value only when the media reach is high, as high reach has a more distributable capacity and greater situated cognition magnitude. On the other hand, media coverage could enhance firm value when the severity is high, as higher severity results in sensemaking intensification that lowers crisis severity. Upon reflection on these results, our study reveals that the fundamental media machinery expected to control ESG controversies is possibly much more fragile than formerly understood. Therefore, mere media reporting of ESG controversies does not overtly lead to stakeholders' sanctions and valuation effects.

The importance of financial statement is articulated by the role it plays for its users or stakeh... more The importance of financial statement is articulated by the role it plays for its users or stakeholders. The primary interest of users is to assess the fair value of shares by estimating and interpreting from financial reports. They use different models to capture the pulse of the firm to make sure of their investment prospects and use measures for valuation of the company. This paper aims to analyze different valuation models and interrogates the conjecture around the company valuation and estimation of measures particularly at the time of crisis that provokes the debate about the reliability of financial statements. The paper concludes that for forecasting value, it is imperative to understand the economic factors, strategic choices made by the management such as choosing product, location, quality, R&D program, alliances but at the same time, it is correspondingly significant to look at the business conditions like legal, political and regulatory constraints.

It is poetry on Organizational Consciousness aiming to inspire and motivate the stakeholders of t... more It is poetry on Organizational Consciousness aiming to inspire and motivate the stakeholders of the organization to not give up at times of distress. It is a ray of hope to the pessimist to abandon anxiety and wait for a fresh crack of dawn. It highlights the profound impact of shared values, optimism, and emotions in developing organizational consciousness. Through the poem, I urge stakeholders to progress from a lower to a higher consciousness level, evolving sensory to mental to spiritual experiences

Academy of Management Proceedings

MUDRA : Journal of Finance and Accounting, 2018

This paper examines whether discretionary accruals of the company are related with the auditing d... more This paper examines whether discretionary accruals of the company are related with the auditing done by Big 4 auditors of the company. This paper analysed empirically all the listed companies in Bombay Stock Exchange available under the database CMIE- Prowess during the year 2001- 2015. It consists of 8,724 firm- year observations, amongst 950 are Big 4 Client Firms and the rest, 7774 are Non-Big 4 Client Firms. The empirical results reveal that the absolute Discretionary accrual is higher in Non- Big 4 client firms as compared to Big 4 client firms. Further, the Discretionary accrual and Absolute discretionary accrual is found to be significantly associated with Big 4 client firms. Going forward, the significant absolute discretionary accrual in univariate analysis turned insignificant in multivariate analysis when other factors were added. The factors, for instance profitability, cash flow from operations and size are found to be higher in Big 4 client firms as compared to Non- Bi...

The purpose of this study is to examine whether mandated introduction of Public Company Accountin... more The purpose of this study is to examine whether mandated introduction of Public Company Accounting Oversight Board in United States of America improves the audit quality for listed companies. The empirical analysis includes the companies listed in NASDAQ stock exchange that constitutes 6,600 firm-year observations for the period from 2008 to 2015. The paper use Modified Jones model to estimate signed discretionary accruals and unsigned discretionary accruals as a proxy for audit quality. It is found that Public Company Accounting Oversight Board improves audit quality and the relationship between abnormal audit fees and audit quality is asymmetric and conditional upon the sign of abnormal fees. It reveals that there is a significant difference between the impact of negative abnormal audit fees and positive abnormal audit fees on audit quality at least in case of unsigned discretionary accruals. The paper admits that the empirical analysis does not capture all the variables to observ...

Academy of Management Proceedings

This article bridges the literature on social issues in strategic management and collective consc... more This article bridges the literature on social issues in strategic management and collective consciousness by (1) delineating modes of corporate responsibility involving corporate spiritual responsi...

MUDRA : Journal of Finance and Accounting

This paper examines whether discretionary accruals of the company are related with the auditing d... more This paper examines whether discretionary accruals of the company are related with the auditing done by Big 4 auditors of the company. This paper analysed empirically all the listed companies in Bombay Stock Exchange available under the database CMIE- Prowess during the year 2001- 2015. It consists of 8,724 firm- year observations, amongst 950 are Big 4 Client Firms and the rest, 7774 are Non-Big 4 Client Firms. The empirical results reveal that the absolute Discretionary accrual is higher in Non- Big 4 client firms as compared to Big 4 client firms. Further, the Discretionary accrual and Absolute discretionary accrual is found to be significantly associated with Big 4 client firms. Going forward, the significant absolute discretionary accrual in univariate analysis turned insignificant in multivariate analysis when other factors were added. The factors, for instance profitability, cash flow from operations and size are found to be higher in Big 4 client firms as compared to Non- Bi...

Global Journal of Flexible Systems Management

Global Business Review

The study investigates the impact of environment, social and governance (ESG) controversies on fi... more The study investigates the impact of environment, social and governance (ESG) controversies on firm performance in India. Utilizing a sample of 1,024 firm-year observations of Indian firms from 2007 to 2018, the study reports that ESG controversies reduce firm performance. Further, after introducing the interaction effect of government effectiveness, the ESG controversies maintain a similar negative influence on performance. Additionally, the interaction effect of government effectiveness and ESG controversies negatively affects performance in response to ESG controversies. The study conducts a sample-split analysis that indicates the moderation effect of government effectiveness is significantly negative only in the post-CSR mandate period. This study is novel in analysing insights on government effectiveness moderation impact on firm performance in response to ESG controversies.

Journal of Advances in Management Research

PurposeThis paper aims to assess the impact of corporate social irresponsibility (CSiR) media cov... more PurposeThis paper aims to assess the impact of corporate social irresponsibility (CSiR) media coverage on firm performance in India. It also analyses the effects of the environment, social, governance, and cross-cutting issues on firm performance.Design/methodology/approachThe paper utilizes a sample of Indian firms from the Reprisk® database, amounting to 1,103 CSiR media coverage counts for 693 firm-year annual observations from 2008 to 2015. Further, Reprisk® segregates comprehensive CSiR coverage counts into the environment, social, governance and cross-cutting issues, for which the study runs the fixed effects panel regression. The study takes year-fixed effects, industry-fixed effects and clustered standard errors at the industry level.FindingsThe results of this study indicate that CSiR coverage negatively influences the firm performance of Indian firms. All issues, including social, governance and cross-cutting, except environmental issues, negatively impact firm value in In...

Global Finance Journal, 2023

This study investigates whether, when, and how media coverage of environment, social, and governa... more This study investigates whether, when, and how media coverage of environment, social, and governance (ESG) controversies, type of media reach, and media severity affects firm value in India's emerging and developing market. By anchoring enacted sensemaking theory with agendasetting theory and attribution theory, we offer the first investigation of how firm value is impacted by the reach and severity of ESG controversies in the context of voice and accountability (VA). Drawing on a comprehensive dataset for 2007-2016, this study reveals the critical condition for ESG controversies to impact firm value. The media coverage of ESG controversies decreases firm value only when the media reach is high, as high reach has a more distributable capacity and greater situated cognition magnitude. On the other hand, media coverage could enhance firm value when the severity is high, as higher severity results in sensemaking intensification that lowers crisis severity. Upon reflection on these results, our study reveals that the fundamental media machinery expected to control ESG controversies is possibly much more fragile than formerly understood. Therefore, mere media reporting of ESG controversies does not overtly lead to stakeholders' sanctions and valuation effects.

The importance of financial statement is articulated by the role it plays for its users or stakeh... more The importance of financial statement is articulated by the role it plays for its users or stakeholders. The primary interest of users is to assess the fair value of shares by estimating and interpreting from financial reports. They use different models to capture the pulse of the firm to make sure of their investment prospects and use measures for valuation of the company. This paper aims to analyze different valuation models and interrogates the conjecture around the company valuation and estimation of measures particularly at the time of crisis that provokes the debate about the reliability of financial statements. The paper concludes that for forecasting value, it is imperative to understand the economic factors, strategic choices made by the management such as choosing product, location, quality, R&D program, alliances but at the same time, it is correspondingly significant to look at the business conditions like legal, political and regulatory constraints.

It is poetry on Organizational Consciousness aiming to inspire and motivate the stakeholders of t... more It is poetry on Organizational Consciousness aiming to inspire and motivate the stakeholders of the organization to not give up at times of distress. It is a ray of hope to the pessimist to abandon anxiety and wait for a fresh crack of dawn. It highlights the profound impact of shared values, optimism, and emotions in developing organizational consciousness. Through the poem, I urge stakeholders to progress from a lower to a higher consciousness level, evolving sensory to mental to spiritual experiences

Academy of Management Proceedings

MUDRA : Journal of Finance and Accounting, 2018

This paper examines whether discretionary accruals of the company are related with the auditing d... more This paper examines whether discretionary accruals of the company are related with the auditing done by Big 4 auditors of the company. This paper analysed empirically all the listed companies in Bombay Stock Exchange available under the database CMIE- Prowess during the year 2001- 2015. It consists of 8,724 firm- year observations, amongst 950 are Big 4 Client Firms and the rest, 7774 are Non-Big 4 Client Firms. The empirical results reveal that the absolute Discretionary accrual is higher in Non- Big 4 client firms as compared to Big 4 client firms. Further, the Discretionary accrual and Absolute discretionary accrual is found to be significantly associated with Big 4 client firms. Going forward, the significant absolute discretionary accrual in univariate analysis turned insignificant in multivariate analysis when other factors were added. The factors, for instance profitability, cash flow from operations and size are found to be higher in Big 4 client firms as compared to Non- Bi...

The purpose of this study is to examine whether mandated introduction of Public Company Accountin... more The purpose of this study is to examine whether mandated introduction of Public Company Accounting Oversight Board in United States of America improves the audit quality for listed companies. The empirical analysis includes the companies listed in NASDAQ stock exchange that constitutes 6,600 firm-year observations for the period from 2008 to 2015. The paper use Modified Jones model to estimate signed discretionary accruals and unsigned discretionary accruals as a proxy for audit quality. It is found that Public Company Accounting Oversight Board improves audit quality and the relationship between abnormal audit fees and audit quality is asymmetric and conditional upon the sign of abnormal fees. It reveals that there is a significant difference between the impact of negative abnormal audit fees and positive abnormal audit fees on audit quality at least in case of unsigned discretionary accruals. The paper admits that the empirical analysis does not capture all the variables to observ...

Academy of Management Proceedings

This article bridges the literature on social issues in strategic management and collective consc... more This article bridges the literature on social issues in strategic management and collective consciousness by (1) delineating modes of corporate responsibility involving corporate spiritual responsi...

MUDRA : Journal of Finance and Accounting

This paper examines whether discretionary accruals of the company are related with the auditing d... more This paper examines whether discretionary accruals of the company are related with the auditing done by Big 4 auditors of the company. This paper analysed empirically all the listed companies in Bombay Stock Exchange available under the database CMIE- Prowess during the year 2001- 2015. It consists of 8,724 firm- year observations, amongst 950 are Big 4 Client Firms and the rest, 7774 are Non-Big 4 Client Firms. The empirical results reveal that the absolute Discretionary accrual is higher in Non- Big 4 client firms as compared to Big 4 client firms. Further, the Discretionary accrual and Absolute discretionary accrual is found to be significantly associated with Big 4 client firms. Going forward, the significant absolute discretionary accrual in univariate analysis turned insignificant in multivariate analysis when other factors were added. The factors, for instance profitability, cash flow from operations and size are found to be higher in Big 4 client firms as compared to Non- Bi...