This paper investigates whether religious-based index membership is important in mitigating earnings management. Using a large sample of firms domiciled across 12 European countries, our empirical results show that firms included in the Shariah-compliant index, as a proxy for religious index, are more likely to engage in accruals manipulation vis-a-vis non-Shariah-compliant firms. Our results are robust using the Heckman two-stage treatment effect model, weighted least squares model, alternative earnings quality metrics and after controlling for the potential effects of home-country characteristics. (...) Furthermore, our empirical results indicate that corporate governance of Shariah-compliant firms does not constrain managerial opportunistic behaviour in misreporting earnings, and firms that with low scores of board functions, shareholder rights and vision and strategy are more likely to engage in earnings management. Further, Shariah-compliant firms domiciled in Coordinated Market Economies are more likely to manipulate earnings than those in Liberal Market Economies. Taken together, our findings suggest that the Shariah index membership does not indicate good corporate governance that can mitigate earnings management, and it may serve as a legitimacy mechanism to conform to stakeholders’ expectations. Our findings support arguments that the religious-based index membership is plausibly used as a ‘label’ and an impression management tool to attract investment. (shrink)

Although critical discourse analysis (CDA) sets out to investigate both oppressive and progressive discourses, the vast bulk of published studies seem to prioritize the former. This paper is a response to scholarly calls to engage with (non)oppressive discourses by integrating positive impulses in critical discourse analysis, and thus contribute to the growth of positive discourse analysis (PDA), a complement to CDA, which attends to the emancipatory mechanisms of resistance. Using a combination of theoretical tools, this paper takes a case study (...) approach to explore the potentials of ‘complexification’ [Macgilchrist, F. (2007). Positive discourse analysis: Contesting dominant discourses by reframing the issues. Critical Approaches to Discourse Analysis Across Disciplines, 1(1), 74–94], a counter-discursive strategy for propelling marginal discourses into the dominant official school discourse. Specifically, the paper discusses three layers of complexification found in a selected Moroccan EFL textbook which has been developed, approved and distributed by the Moroccan Ministry of Education, and has been required to be used in every school, public or private. The analysis highlights the role this textbook plays in promoting emancipatory and progressive discourses about Amazigh social actors, and hence, signals a new shift in analytic focus by illuminating a concrete application of PDA in education curricula. (shrink)

We investigate cluster-delay synchronization of a directed network possessing cluster structures by designing an intermittent control protocol. Based on Lyapunov stability theory, we proved that synchronization can be realized for oscillators in the same cluster and cluster-delay synchronization can be realized for the whole network. By simplifying the obtained sufficient conditions, we carry out a succinct and utilitarian corollary. In addition, comparative researches are carried out to show the differences and the usefulness of the obtained results with respect to other (...) similar controllers from the recent literature. Finally we provide two numerical examples to show the effectiveness of the control schemes. (shrink)