This study investigates changes in segment reporting, particularly instances where firms reshuffle the composition of reportable segments without altering their labels or number. We identify these events using a novel method based on inconsistencies in comparative segment data and classify them as “explained” or “unexplained” based on disclosure in the notes to financial statements.
Analyzing a large sample of U.S. multi-segment firms from 2001 to 2023, we find that reshuffling often occurs when firms face performance deterioration. Reshuffled segment reporting appears to be informative to financial analysts but only when it is accompanied by explanatory disclosures, which occur in less than half of cases.
Our results highlight the limitations of current segment reporting standards and underscore the importance of transparency in segment reporting.
Before joining IESEG, I taught financial accounting in Romania (ASE Bucharest), Switzerland (HEC Genève), Canada (HEC Montréal) and France (ESSEC Business School). I also worked as an instructor for CFA Montreal and CIIA Switzerland and I was the Head of the Accounting and Management Control department at ESSEC (2016-2019).
Holding a Ph.D. in international accounting from the University of Geneva, my main research interests are institutional settings and financial reporting quality. I am a recognized expert in international accounting with a focus on transitional economies.
I have a technical expertise with the application of IFRS standards and I have worked on several projects with the international (IASB) and French (ANC) accounting standard setters. I am regularly invited as a panel speaker for international conferences (AAA-IAS, IAAER, EAA, EUFIN, AMIS etc.)
As an academic, I have published in various leading accounting journals (Contemporary Accounting Research, Journal of Corporate Finance, European Accounting Review, Journal of Business Finance and Accounting etc.) and I am an editorial board member of numerous journals. I am currently editor in chief of Accounting in Europe, a journal of the European Accounting Association.
During the last decade, I have worked closely with the IAAER, an international accounting association that builds capacities in accounting research and teaching in transition economies.
The seminar will be held in English.
Major information: Eleonora Monaco (e.monaco@unibo.it).