International Journal of Accounting Information Systems 54 (2024) 100692

Contents lists available at ScienceDirect

International Journal of Accounting

Information Systems
journal homepage: www.elsevier.com/locate/accinf

Linking quality of accounting information system and financial

reporting to non-financial performance: The role
women managers
Albertina Paula Monteiro a, *, 1 , Joana Vale b , Eduardo Leite c, 2 , Marcin Lis d, 3
a
Porto Accounting and Business School, Polytechnic of Porto, CEOS.PP, R. Jaime Lopes Amorim s/n, 4465-004 São Mamede de Infesta, Portugal
b
Porto Accounting and Business School, Polytechnic of Porto, R. Jaime Lopes Amorim s/n, 4465-004 São Mamede de Infesta, Portugal
c
Higher School Technology and Management, University of Madeira, Penteada University Campus, 9020-105 Funchal, Portugal
d
WSB University, Dąbrowa Górnicza, Zygmunta Cieplaka 1c, 41-300 Dąbrowa Górnicza, Poland

A R T I C L E I N F O A B S T R A C T

Keywords: This study aims to analyze whether non-financial (NF) performance is influenced by the quality of
Women managers accounting information system (AIS) and the quality/usefulness of financial information (FI) and
Quality of financial reporting whether this influence is more pronounced in companies managed by women. Data of 381 Por­
Quality of the accounting information system
tuguese companies were subjected to structural equations model analysis. The results reveal that
Financial information
(1) companies managed by women exhibit the highest quality in terms of AIS and FI, (2) the
Decision-making success
quality of the FI determines its usefulness in the decision-making process, and (3) quality and
usefulness of the FI has a significant impact on NF performance. Within the framework of con­
tingency theory, the research provides empirical evidence that the NF performance of Portuguese
firms is associated with the presence of women in management, as they enhance the quality of
financial reporting, essential for the success of any organization. This research is pertinent for
accounting and management professionals, as it underscores the importance of quality financial
reporting for the survival and growth of companies, while also emphasizing the significance of
gender diversity in company management. © 2021 Published by Elsevier Inc. All rights reserved.

1. Introduction

Several studies point out that gender diversity in management may potentially improve the company’s performance and market
value (Peni and Vähämaa, 2010; Erhardt et al., 2003). However, although there are grounds that a company’s performance improves
with the presence of women in management, the literature is not consistent (Nakagawa and Schreiber, 2014).
On the other hand, previous research suggests that women exhibit superior ethical behavior, as well as demonstrate that they are
better at obtaining voluntary information, reducing information asymmetry between female directors and managers (Gull et al., 2021).
For Peni and Vähämaa (2010) and Arun et al. (2015), women lean towards adopting more conservative accounting policies and
financial reporting practices. Peni and Vähämaa (2010), using a sample of S&P 500 empirically prove that the gender of the company’s

* Corresponding author.
E-mail addresses: amonteiro@iscap.ipp.pt (A.P. Monteiro), eduardo.leite@staff.uma.pt (E. Leite), mlis@wsb.edu.pl (M. Lis).
1
ORCID ID: 0000-0002-2146-9807.
2
ORCID ID: 0000-0002-4109-3122.
3
ORCID ID: 0000-0001-7046-591X.

https://doi.org/10.1016/j.accinf.2024.100692
Received 1 March 2023; Received in revised form 26 December 2023; Accepted 4 June 2024
Available online 16 June 2024
1467-0895/© 2024 The Authors. Published by Elsevier Inc. This is an open access article under the CC BY-NC-ND license
(http://creativecommons.org/licenses/by-nc-nd/4.0/).
A.P. Monteiro et al. International Journal of Accounting Information Systems 54 (2024) 100692

executives may contributes to quality of financial reporting.

According to Piosik et al. (2019, p. 4), “the context of perceiving and understanding financial and nonfinancial information pre­
sented by the accounting system, which can be shaped by both the appropriate presentation of information and the individual at­
tributes of its users, should be considered”. Therefore, individual attributes, such as gender, can have an impact on the perception of
the potential of an efficient accounting information system.
According to Piosik et al. (2019, p. 4), “the context of perceiving and understanding financial and nonfinancial information pre­
sented by the accounting system, which can be shaped by both the appropriate presentation of information and the individual at­
tributes of its users, should be considered”. Therefore, individual attributes, such as gender, can have an impact on the perception of
the potential of an efficient accounting information system.
Both quality of financial reporting and, consequently, companies’ performance depend on information systems. In fact, information
systems seem to be a condition “sine qua non” for the success of any organization. In this context, Xu (2015, p. 1) argues that “all
organizations rely on information systems for their management and operation”. According to Kocsis (2019, p. 1), “the nature of
accounting practices has evolved greatly over the years, especially as information systems have evolved”. Accounting, as an infor­
mation system, is vital to business management. Accounting Information Systems (AIS) are designed to support the management and
control of an organization in the economic-financial area (Soudani, 2012). AIS plays an important role in organizations, given the
strong impact on their performance (Ta and Nguyen, 2020; Monteiro et al., 2021a). AIS encompasses the processes, procedures and
systems that allow to produce accounting information, resulting from a company’s activity, and for reporting this information, in a
summarized way, to the entity’s internal and external stakeholders (Turner et al., 2020). The main function of AIS is to document
economic events and verify their impact on a company’s financial situation (Kaplan et al., 1998). AIS should provide important in­
formation to reduce uncertainty in decision-making and promote better planning and control of business activities (Sari et al., 2019).
The effectiveness of AIS depends on the quality of the information provided by the system to satisfy the user’s requirement (Emeka-
Nwokeji, 2012; Laudon and Laudon, 2014). Thus, AIS is a vital resource for businesses, as it can determine decision-making success
(Phornlaphatrachakorn, 2019; Ibrahim et al., 2020; Monteiro et al., 2021a).
Literature suggests that the quality and usefulness of Financial Information (FI) are also determinants for decision-making success
and consequently of for company’s performance (Cepêda and Monteiro, 2020; Soudani, 2012; Zhu et al., 2021; Monteiro et al., 2021a,
b,c; Monteiro et al., 2021a; Monteiro et al., 2021c). Furthermore, Menicucci (2019) states that FI should bring together qualitative
characteristics to become useful in decision-making. However, previous studies have argued that the quality/utility of FI is influenced
by information systems (Sajady et al., 2008; Fitriati and Susanto, 2017; Muda et al., 2018; Majid et al., 2020), i.e. that improvement in
the quality/utility of FI depends on AIS quality.
Thus, business performance depends on contingent factors. Contingency theory focuses on how contingent factors affect the
functioning of organisations. Murimi et al. (2021, p.4), according to literature, state that “the premise of contingency theory is that
there is no exceptional arrangement performance management structure used by all or any organisation at all times, though different
organisations rely on influential and significant contingent situations”.
Studies that assess the contingent factors of company’s performance from the perspective of managers are scarce. Previous studies
developed models to analyze the impact AIS quality and internal control system quality on the financial and non-financial (NF) in­
formation quality, decision-making success and business performance – financial and NF (Monteiro et al., 2022a, Monteiro et al.,
2021c).
Regarding the determinants of NP performance, the conceptual model of Budiarto et al.’s (2018) study aims to analyze whether AIS
sophisticated, owner commitment and external information technologies expertise impact on NF performance of Small and medium-
sized companies in the retail sector (that has implemented information technologies in Yogyakarta), either directly or mediated by AIS
alignment. Al-Dmour et al. (2018) investigate, in the perspective of financial/account manager/director of public listed companies in
Stock Amman Market, the effect of the financial reporting quality on NF performance and whether their demographic attributes, such
as type, size and experience, are variable moderators in relationship between both variables.
On the other hand, Monteiro et al. (2021b) develop a model that seek to evaluate the determinants of the usefulness of FI, namely
AIS quality, internal control system quality, and FI quality.
Other authors report that women tend to adopt more conservative practices and control the financial reporting process more
rigorously than men (Lara et al., 2017; Arun et al., 2015; Peni and Vähämaa, 2010).
This study, inspired by the models of Monteiro et al. (2023), Monteiro et al. (2022b), Monteiro et al. (2021b), Al-Dmour et al.
(2018), Budiarto et al. (2018) and research of Lara et al. (2017), Arun et al. (2015) and Peni and Vähämaa (2010), aims analyze the
relationship between women’s representation in management, AIS quality and FI/usefulness and NF performance, in perspective of
companies’ managers.
This study is applied to Portugal. In this country, the number of new companies (legal entities and similar entities) is greater than
the number of companies going into insolvency proceedings (INE, 2020). However, Bertolami et al. (2018) report that many Small and
Medium Enterprises (SMEs) do not survive beyond their first years of life due to lack of knowledge of the market, experience in
business management, and financial problems, given their immaturity. However, companies with some maturity also face insolvency
proceedings. Thus, a better understanding of the factors that influence the performance of companies is necessary, since an improved
understanding can contribute to the survival and growth of companies and, in turn, enhance the economic development of the country.
While diversity in management can be a highly visible effort to demonstrate an absence of discrimination, it is not clear whether
gender diversity has an impact on organizational performance (Erhardt et al., 2003), as well as the mediating effect of accounting
information systems and the quality/utility of FI.
This research covers a gap in literature regarding the perception of managers concerning contingency factors that influence the

2
A.P. Monteiro et al. International Journal of Accounting Information Systems 54 (2024) 100692

company’s performance. In this context, this study aims to analyze whether company’s performance (NF Performance) is directly
influenced by FI quality and usefulness and indirectly by AIS quality and presence of women managers.
Within the framework of contingency theory, the research results provide empirical evidence that the success of Portuguese firms
managed by women managers is strongly dependent on the quality of AIS and the quality and usefulness of FI reporting. As this study
evaluates an original model, it proves to be relevant not only for the development of literature but also for managers, in the sense that
they would benefit from the greater presence of women in management to improve company’s performance.
This study is the first to empirically prove that the presence of women in management contribute favorably to the transparency of FI
and, consequently, to business success.
This paper is structured as follows: In the next section, we present the conceptual background to develop the proposed research
model and hypotheses. Next, in section 3 and 4, we present the methodology and the empirical results. The final section encompasses
the discussion and conclusions, which include the limitations of the study and lines for future research.

2. Theoretical framework and research hypotheses

The last decades have witnessed a significant increase in the proportion of women in companies in all developed countries, which
encourages the debate about its possible consequences for company’ management (Melero, 2011). Although women are often faced
with barriers that block their professional progress (Mulcahy and Linehan, 2014), known in the literature as the “glass ceiling” (Jamali
et al., 2007), the truth is that they have gradually assumed management positions thanks to their ambition, determination, and
commitment to the job.
Regarding gender diversity, Stedham et al. (2007), in accordance with the results of most studies, find that gender differences
impact in ethical decision-making. These authors investigate the ethical decision making based on ethical judgements made by men
and women and they find that women make more rigorous judgments than men in an ethical analysis of a problem. Managers and
“accountants have positions that are inherently value-laden and imbued with ethical responsibilities” (Waddock, 2005, p. 147).
Without managers or accountants with an ethics attitude or responsibility, accounting for performance is likely to remain too limited to
be useful in the increasingly demanding environment of business information (Waddock, 2005).
Other studies analyze the role of female directors in promoting Corporate Social Responsibility practices/reporting (e.g., Rodrí­
guez-Ariza et al., 2017; Monteiro et al., 2022b). In respect of women’s representation in top management positions, Bear et al. (2010, p.
211) point out, based on the literature, that “female directors tend to have different educational and professional backgrounds from
those of male directors, and may be more participative and democratic in decision-making processes, diversifying boards by increasing
the number of female directors may help ensure that more perspectives and issues are considered in the decision-making process,
leading the board to achieve better decisions”. Fondas and Sassalos (2000) state that the gender diversity on boards is more effective
than homogenous boards and that the presence of women may improve decision-making by bringing “to the table” several perspectives
and opinions. Moreover, female directors are more sensitive to reputational risks than men directors (Srinidhi et al., 2011). Besides,
female directors are supposed to be more sensitive to ethical concerns (Labelle et al., 2010) and, therefore, they are less permissive to
opportunistic behavior (Thorne et al., 2003; Krishnan and Parsons, 2008). In this context, Peni and Vähämaa (2010) and Arun et al.
(2015) refer to the fact that the women are more conservative than men regarding accounting policies and financial reporting
practices, contributing to FI quality.
The usefulness of financial reporting is stressed in the Conceptual Framework of the IASB (Gajevszky, 2015). This Conceptual
Framework, regarding private companies, states that there are four qualitative characteristics to which financial statements must
comply, namely: comprehensibility, relevance, reliability, and comparability. These are the characteristics that render the information
useful for decision-making. The Portuguese Accounting Standardisation System (Aviso 8254/2015 of 29 July) describes these qual­
itative characteristics as follows: comprehensibility (FI must be readily understandable by users and cannot be excluded merely on the
grounds that it may be too difficult for certain users to understand); relevance (FI must be relevant to the economic decisions if it helps
users to assess past, present and future events or confirm, or correct, their past evaluations; comparability (FI is comparable when it is
able to compare the financial statements of an entity over time in order to identify trends in its financial position and performance; and
reliability (FI is reliable when it is free from material errors and preconceptions, and users may depend on it to faithfully represent
what it intends or can reasonably be expected to represent). This last qualitative characteristic involves such features as faithful
representation, substance over form, neutrality, prudence, and completeness. Jonas and Blanchet (2000) define the quality of financial
reporting as complete, transparent and reliable FI, i.e., information that does not mislead the decisions of the users of financial reports.
The quality of accounting information is strongly dependent on an efficient information system. According to O’Brien and Marakas
(2011), an information system can be defined as any combination of people, hardware, software, communication networks, databases,
policies and procedures that stores, retrieves, transforms and disseminates information within an organisation. However, it is up to
each entity to create its own information system (Ciuhureanu, 2018). Jumaili (2005) states that the effectiveness of the imple­
mentation or use of an information system in a company depends on the ease with which stakeholders identify the necessary data and
access it, with consideration given to the adequacy of response time and the ease of execution of the operation. For Widjajanto (2001),
information systems are considered effective if the system is able to produce information that meets stakeholders’ expectations, which
may be associated with timely, accurate and reliable information.
AIS is an information system. AIS, according to Turner et al. (2020), comprises the processes, procedures and systems that capture
accounting data from a business process: record the accounting data in the suitable records, process the detailed accounting data by
classifying, summarizing, consolidating and report the summarized accounting data to internal and external users. Ibrahim et al.
(2020) state that AIS is a vital resource for today’s SMEs, as it can facilitate the effective decision-making, planning and controlling

3
A.P. Monteiro et al. International Journal of Accounting Information Systems 54 (2024) 100692

activities of an organization. For Ibrahim et al. (2020), the implementation of an AIS can be an expensive process, as it requires
significant effort in terms of time and money throughout all stages of the system’s life cycle. However, the usefulness of AIS depends on
the quality of the system itself (Thuan and Huong, 2019). AIS quality combines system quality and information quality (Binh et al.,
2020). Monteiro et al. (2022a, p. 4) define AIS Quality “as the capacity of the system to process and convert a large amount of data into
quality information (financial and NF), with value-relevance to the decision-making process and to the development of the company’s
activities efficiently and effectively”.
Previous literature suggests that women tend to adopt more conservative financial reporting practices, a variable which is asso­
ciated with the FI quality (e.g., Arun et al., 2015; Peni and Vähämaa, 2010). More recently, research in accounting reveals that female
Chief Executive Officer (CEO), chief financial officer (CFO), or directors control the financial reporting process more strictly than their
male counterparts (Lara et al., 2017). On the other hand, several authors have found that FI reporting quality depends on AIS quality
(Monteiro et al., 2021a; Monteiro et al., 2021b; Salehi et al., 2010). According to Meiryani et al. (2019), AIS quality can avoid
misleading financial reports. Authors also refer that “a good accounting information system can not only detect trends in accounting
fraud but also unethical behavior” (p. 2719). This means that unethical managers tend to have less effective accounting information
systems.
Considering the aforementioned, we expect that the presence of women managers in companies, as they tend to act ethically, will
contribute to effective AIS (Piosik et al., 2019) and FI quality (Peni and Vähämaa, 2010; Arun et al., 2015). Thus, in this study, we
formulated the first and second research hypotheses:
H1. The presence of women in management has a positive impact on AIS quality.
H2. The presence of women in management has a positive impact on FI quality.
Literature suggests that AIS quality contributes to the preparation of timely and accurate information (Widjajanto, 2001), reliable
information (Widjajanto, 2001; Ong, Day and Hsu, 2009; Wixom and Todd, 2005), flexible and easily accessible (Ong et al., 2009;
Wixom and Todd, 2005). On the other hand, several authors indicate that AIS quality improves FI efficiency and effectiveness
(Thapayom and Ussahawanitchakit, 2015; Rashedi and Dargahi, 2019), facilitates planning and control of business activities (Ibrahim
et al., 2020) and improves decision-making (Napitupulu, 2018; Ibrahim et al., 2020).
Phornlaphatrachakorn (2019) states that decision-making success is a valuable strategic outcome of the implementation of AIS
quality and the usefulness of FI. However, Patel (2015) adds that one of the important assumptions in the decision-making process is
the existence of quality and timeliness in FI reporting, and thus AIS represents an important tool for both information quality and
decision-making.
Literature suggests that theoretical approaches have moved from measuring economic performance to an informational perspec­
tive, underlining that financial statements should provide useful information to decision-makers (Eierle and Schultze, 2013). FI quality
is verified when there is evidence that FI is accurate, relevant, timely and complete (Sari et al., 2019). Only then is FI useful for
stakeholders in decision-making. In fact, in the decision-making process, it is important that FI is timely and of high quality (Patel,
2015), as well as complete, transparent and does not mislead (Jonas and Blanchet, 2000).
Gorla et al. (2010) indicate that information system managers should improve system quality (through updated hardware and
software, utilisation of a graphical user interface and well-designed and well-documented systems), since there is evidence that poor
information system quality prevents information quality improvement.
In this context, several authors, such as Monteiro et al. (2021b), Muda et al. (2018), Fitriati and Susanto (2017) and Sajady et al.
(2008), state that AIS quality may have an impact on FI quality, as well as this last variable on FI usefulness in the decision-making
process. For example, Sajady et al.’s (2008, p. 51) study analyses whether the AIS quality improves the performance and facilitate the
financial transaction processes and it concludes that the effectiveness of AIS contributes to “the improvement of managers’ decision-
making process, internal controls, and the quality of the financial reports and” facilitates the process of transactions in listed companies
at Tehran Stock Exchange. Monteiro et al. (2021b) develop a model with the objective to analyze the impact of internal control system
quality and AIS quality on financial reporting quality/usefulness. Study’s results reveal that (1) the financial reporting quality is
influenced by internal control system quality and (2) the AIS quality and financial reporting quality influence the FI usefulness.
Based on the study above and contingency theory, we formulated the first and fourth hypotheses of research:
H3. AIS quality has a positive and significant impact on FI quality.
H4. FI quality has a positive and significant impact on FI usefulness.
Jung (2004, p. 166) states that “little evidence and understanding of the impact of data quality on decision performance” has been
identified in literature on information systems.
Decision-makers need accounting information to support their choices. Decision-making differs in many ways and varies depending
on some aspects of the information required (i.e., the quantity, complexity, and accuracy of the information) and the complexity of the
process to obtain that information (Athanasou and Perera, 2019). Thus, different situations require different ways to process the best
decision (Gati and Levin, 2014). According to Ciuhureanu (2018), the decision-making process involves forecasting (determining costs
in relation to turnover and the expected profit margin), coordination (establishing a dialogue between technical employees and
managers), organization (preparing the information needed for management to optimize the use of resources, such as fixed assets and
human resources), control (evaluation of results and definition of measures needed to correct deviations) and performance evaluation
(final evaluation of the process based on information provided by accounting). Thus, the decision-making process must include
procedures that ensure the achievement of business objectives effectively and efficiently (Soudani, 2012).
Rezaei Pitenoei et al. (2021) emphasize that the value of FI in decision-making process has been pointed in the information age.
Drum et al. (2017, p. 44) “investigate the impact on accounting information quality from workarounds implemented by personnel at a
large global organization” and conclude that “system users are often unable to fully comprehend their place in the task chain, and thus

4
A.P. Monteiro et al. International Journal of Accounting Information Systems 54 (2024) 100692

are unaware of the implications of their actions on information quality”. Zhu et al.’s (2021) and Shahzad et al.’s (2019) results show
that there is a positive association between FI excellence and efficiency of investment decisions in emerging markets. On the other
hand, Tommasetti et al. (2019) demonstrate that old family firms are more inclined to supply higher financial reporting quality than
any other group of firms.
For Gerayli et al. (2021), financial reporting reflects the accountability of a company’s business, thereby providing a basis for
managers’ economic decisions. “To maximise its benefit, financial reporting needs to meet the characteristics as a quality financial
report” (Suharsono et al., 2020). According to Menicucci (2019), FI should bring together the qualitative characteristics in order to
become useful in decision-making. The improvement of the quality of FI is a result of the concern to produce valuable content for the
users of this information (Rezaei Pitenoei et al., 2021). Ježovita (2015), by analysing 320 Croatian companies, concluded that the
information available in the reports and accounts is important in the decision-making process. Dewi et al. (2019) verified the evidence
for the aforesaid in their analysis of 161 of the 303 individuals of the Agency (Dinas) belonging to the Government of South Sumatra
Province (Indonesia). Thus, decision-making based on FI, which brings together qualitative characteristics, can determine the decision-
making success and, consequently, the company’s success (Monteiro et al., 2022a,b; Monteiro et al., 2021a; Monteiro et al., 2021c).
The company’s success is reflected in the company’s performance indicators. On the other hand, Hernaus et al. (2012, p. 379) refer that
“performance measurement plays uniquely important roles in running an organization”.
Financial performance measures are widely used in corporate performance evaluation, because they are measures that appear in
financial reports, such as the returns on asset (ROA), return on equity (ROE), profitability, earnings per share, etc. (Hernaus et al.,
2012, Barbosa et al., 2021). However, although previous research uses these traditional financial measures, according to Neely (2007),
they are no longer adequate to exercise managerial control. For its part, NF Performance is defined “as the result of a company’s efforts
in relation to customer satisfaction and loyalty, working conditions and employee satisfaction/retention, product/service quality, the
company’s general quality, market share, productivity, and innovation as well as environmental and social issues” (Monteiro et al.,
2022a,b, p. 5).
Several studies analyze the determinants of financial performance, however, studies focusing on NF Performance are scarcer
(Hernaus et al., 2012). In this subject, Monteiro et al. (2022a) develop a model that explain the influence of AIS quality, internal
control system quality and NF information quality on decision-making success and NF Performance, Monteiro et al. (2022a) investigate
the influence of the information and control system quality (internal control system and AIS), financial information and NF infor­
mation on decision-making success and business performance and they conclude that the decision-making success and performance
(financial and NF) are variables that depend on directly of internal control system quality and NF information quality and indirectly of
AIS quality and FI quality. Budiarto et al.’s (2018) study show that the AIS sophisticated impact on NF performance, either directly or
mediated by AIS alignment. Budiarto et al.’s (2018) find that financial reporting quality directly contributes to NF performance.
Thus, this study based on models of previous research and contingency theory aims to test the following and final research
hypotheses.
H5. FI quality has a positive and significant impact on NF Performance.
H6. FI usefulness has a positive and significant impact on NF Performance.
To evaluate the factors influencing the NF Performance, a theoretical model has been developed to analyze the impact of the
independent variables (Women managers, AIS quality, FI quality and FI usefulness in decision-making success). Fig. 1 displays the
theoretical model and proposed hypotheses.

3. Methodology

The operationalization of this research is based on quantitative research. A survey in the form of a questionnaire was administered
to managers of Portuguese companies. The questionnaire was developed utilizing the LimeSurvey software. The measuring instrument
was subject to a pre-test in order to verify if it could be improved and subsequently applied.
The structure of the survey is divided into two parts. The first part includes questions regarding the characterization of the
company. The second part comprises items that allow for the evaluation of each of the dimensions under study. In this study, validated
or adapted measurement scales from previous studies are used, and the ordering of responses for each item/affirmation of the di­
mensions shown in the proposed conceptual model follows the Likert scale of 5 points, where 1 corresponds to ‘totally disagree’, and 5
corresponds to ‘totally agree’.
The scale of measurement of the AIS quality dimension used in this research was adapted from the studies of Soudani (2012) and
Kpurugbara et al. (2016). The items of the FI quality dimension were adopted from Dornier (2018). However, one item resulted from

Fig. 1. Theoretical model.

5
A.P. Monteiro et al. International Journal of Accounting Information Systems 54 (2024) 100692

pre-testing the questionnaire (‘FI represents, in a reliable way, what you want to portray’). The FI usefulness dimension measurement
scale was adopted from several studies, namely from Bondt and Thaler (1995), Amoako (2013), Jaffar et al. (2012) and Cepêda and
Monteiro (2020). As far as NF Performance is concerned, this dimension follows the scale of measurement used by Soudani (2012),
except for one item that also resulted from pre-testing the questionnaire (‘The company’s (NF) performance has been successful’).
Finally, in measurement of women managers variable, we used “1” for men or “2” for women.
The sampling selection process was performed in the SABI database, applying the following five filters: (1) all companies with an e-
mail address (Portugal); (2) latest number of employees: a minimum of 50; (3) companies with auditing; (4) enterprises whose legal
form is: sole proprietorship, foreign entity, joint stock company, limited liability company and sole proprietorship, and (5) active
companies.
The SABI database generated a list of 7,812 Portuguese companies. Despite a substantial number, we decided to apply the survey to
all companies instead of limiting the study to one region or district of Portugal. This option was chosen due to the fact that this study
was aimed at company managers, in view of which, there was a likelihood of obtaining a reduced response rate.
The survey was applied online, and a link was sent by email to the companies and addressed to the person(s) responsible for the
main decisions of the companies (i.e. the managers). From 2 to 31 March 2020, emails were sent to 7,812 companies.
During the period mentioned, 381 complete observations were obtained. Given the high number of Portuguese companies, a non-
probabilistic sample was chosen, which is practicable in scientific studies covering a very large population (Cepêda and Monteiro,
2020; Montenegro and Rodrigues, 2020).
In the preliminary analysis of the data, all the procedures of ‘cleaning’ of the data were performed in the SPSS software, which
involves the following four steps: (1) treatment of missing data; (2) analysis of extreme data (outliers); (3) analysis of central tendency
and normality; and (4) analysis of the sample size.
The Structural Equation Model (SEM) is a powerful and multivariate technique that involves the evaluation of the measurement
model and the structural model. Confirmatory factor analysis is the first step in evaluating a measurement model (Marôco, 2010).
Ainur et al. (2017) cited several methods for estimating parameters in SEM, such as: maximum likelihood, minimum generalized
square, minimum weighted square and asymptotically free distribution. However, according to the authors, the maximum likelihood
method is the standard method in most statistical packages, as is the case with AMOS software. According to Marôco (2010), this
method is robust enough for samples that do not follow a normal distribution of data, except in the presence of extreme violation of
normality (asymmetry > 2–3 and kurtosis > 7–10), which is not the case in this study. Thus, in estimating the parameters, we use the
maximum likelihood method.
In the evaluation of the research model, in addition to the evaluation of the adjustment of the model, measures were also considered
to verify the uni-dimensionality, reliability and validity (convergent and discriminant) of the constructions.
Unlike the evaluation of the measurement model, the analysis of the structural model consists in evaluating the relationship be­
tween the variables of the theoretical model simultaneously and globally. Additionally, in this study, the direct and indirect effects of

Table 1
Measurement model results.
Construct Standardised
Loading

AIS quality (CR ¼ 0.92, AVE ¼ 0.61)

The data processing caused the improvement of the quality of the financial reports. 0.864*
The automated data collection speed up the process of NF information preparation. 0.758*
The automated data collection speed up the process to generate financial statements and overcome human weaknesses in data processing 0.744*
The automated data collection provides a platform with access to information, which facilitates the use of it. 0.752*

FI quality (CR ¼ 0.90, AVE ¼ 0.56)

The accuracy of FI helps decision-making. 0.724*
FI is carefully prepared to ensure its reliability. 0.831*
FI is easily understood by its user. 0.719*
FI represents, in a reliable way, what you want to portray. 0.723*

FI usefulness (CR ¼ 0.92, AVE ¼ 0.62)

I give due importance to financial indicators in the decision-making process. 0.895*
I give value to FI in decision-making. 0.859*
I request another type of FI beyond that of the financial statements. 0.616*
I frequently request FI from the accounting department to make decisions. 0.758*

NF Performance (CR ¼ 0.93, AVE ¼ 0.65)

The company has improved its customer service. 0.792*
The company has improved working conditions, regardless of the employee’s position. 0.850*
The company has improved its performance in terms of social responsibility (voluntary effort on the part of the company in the creation of various 0.842*
measures to meet the expectations of the different interested parties – stakeholders).
The company has increased its employee retention rates. 0.721*

Notes: CR, composite reliability; AVE, average variance extracted. * All loadings are statistically significant at p < 0.001.

6
A.P. Monteiro et al. International Journal of Accounting Information Systems 54 (2024) 100692

the relationships established in the theoretical model will be analyzed.

4. Results

4.1. Study’s sample

Regarding the distribution of companies by district, 111 companies (29.1 %) are based in the district of Lisbon, 67 (17.6 %) in
Oporto and 41 (10.8 %) in the district of Aveiro. These 3 districts represent 57.5 % of the sample. Therefore, 42.5 % of the companies
are distributed in the remaining 14 districts or autonomous regions of Portugal. Regarding the activity of a given sector, 160 companies
(42 %) have, as their objective, the provision of services, 126 (33 %) and 43 (14 %) companies carry out industrial and commercial
activities, respectively, and 42 (11 %) of the respondents selected the option ’other’. Most of the companies (83.2 %) are medium or
large, and the remainder are small companies (16.8 %). As the accounting of the company is assured in the company, 250 (65.6 %) of
those queried stated that they do the accounting in-house, and 69 (18.1 %) stated that they subcontract the accounting to an outside
accounting service. However, 62 (16.3 %) companies utilize both options, i.e., the company has an internal accounting department yet
nevertheless contracts the services of an outside accountant.

4.2. Conceptual model evaluation

To assess the suitability of the scales of measurement, we evaluate the constructs’ uni-dimensionality, reliability and validity
(convergent and discriminant) incorporated in the proposed theoretical model. Table 1 provides the evaluation results of the mea­
surement model. In the first-order models, we verify that all items relate significantly to factor in terms of loadings and statistically,
thus evidencing the unidimensionality of the single factor (Fornell and Larcker, 1981; Steenkamp and van Trijp, 1991; Marôco, 2010).
Regarding reliability, measured by composite reliability (CR), we verify that the constructs have a value higher than 0.70, thus
providing reliability to the model (Marôco, 2010). As the values of the standardized coefficients of each construction are higher than
0.50, they confer converging validity (Steenkamp and van Trijp, 1991). Finally, it should be noted that the model also has discriminant
validity, since the average variance extracted (AVE) of each construction is greater than 0.50 (Fornell and Larcker, 1981).
To test the proposed hypotheses, we estimated the structural model. The results show a good fit of the model χ2 = 367.07(113), p =
0.00; CFI = 0.92; GFI = 0.96; NFI = 0.91; RMSEA = 0.07).
The results of this study indicate that the presence of women in management have positively influence in AIS quality (β = 0.38; p <
0.001) FI Quality (β = 0.41; p < 0.001). This result statistical support to H1 and H2. For its part, the FI quality dimension is influenced
by AIS Quality (β = 0.41; p < 0.001). Thus, H3 is supported in this study. Both variables (Women managers and AIS Quality) determine
46 % of their variance. FI quality is a predictor variable of FI Usefulness and NF Performance (β = 0.50; p < 0.001 and β = 0.15; p <
0.05, respectively), which support H4 and H5. Finally, we conclude that FI Usefulness is positively correlated with FN Performance (β
= 0.33; p < 0.001). Model variables determine 25 % and 18 % of the FI Usefulness and NF performance. Table 2 presents the stan­
dardized coefficients, the value of t and the significance level for each relationship postulated in the model, as well as the coefficient of
determination for each construct.
Table 3 presents the standardised direct, indirect and total effects.

5. Discussion and conclusion

AIS “is one of the most critical systems in any organization” (Xu, 2015, p. 1). This information system provides useful information to
interested parties for decision-making (Haleem and Teng, 2018), and therefore, accounting information can determine the success of
an organization (Mock et al., 2008). Previous studies within the framework of contingency theory argue that business success is
influenced by several factors (e.g., Cadez and Guilding, 2008).
According to the contingency theory, the maximization of the performance of organizations depends on the constant adaptation of
companies to their environment. However, also in the light of contingency theory, greater functionality of cost information systems, a
priori, does not necessarily represent better performance; as this depends on the alignment between the cost/benefit ratio, variables
depending on the context. Thus, it is here that the evidence from our study reinforces the need to include more women in top man­
agement, since their participation improves the quality of both the information and the decision that depends on the information.

Table 2
Structural model results.
Parameters Hypothesis Standardised coefficient p-value R2

Women managers – AIS quality H1 0.38 *** 0.32

Women managers – FI quality H2 0.41 *** 0.46
AIS quality – FI quality H3 0.41 ***
FI quality – FI usefulness H4 0.50 *** 0.25
FI usefulness – NF Performance H5 0.50 *** 0.31
FI usefulness – NF Performance H6 0.33 0.01

*** Correlation is significant at a level of 0.001.

7
A.P. Monteiro et al. International Journal of Accounting Information Systems 54 (2024) 100692

Table 3
Standardised direct, indirect and total effects.
Effects Constructs Women Managers AIS Quality FI Quality FI Usefulness NF Performance

Direct AIS Quality 0.38 – – – –

FI Quality 0.41 0.41 – – –
FI Usefulness – – 0.50 – –
NF Performance – – 0.15 0.33 –

Indirect AIS Quality – – – – –

FI Quality 0.15 – – – –
FI Usefulness 0.28 0.20 – – –
NF Performance 0.18 0.13 0.17 – –

Total AIS Quality 0.38 – – – –

FI Quality 0.56 0.41 – – –
FI Usefulness 0.28 0.20 0.50 – –
NF Performance 0.18 0.13 0.32 0.33 –

Indeed, based on a sample of managers of Portuguese companies, we analyzed whether (1) the presence of women in management
contributes to the AIS Quality and FI Quality, (2) AIS Quality have impact in FI Quality, (3) FI usefulness depends on FI quality and
whether both variables determine NF Performance. Empirical results provide statistical support for all the hypotheses formulated for
this study. Regarding H1 and H2, we conclude that Women Managers contributes positively to the quality of AIS and FI. This finding is
in line with Monteiro et al. (2021a), Monteiro et al. (2021b), Meiryani et al. (2019), and Salehi et al. (2010), who argue that FI quality
is only possible with the support of an AIS. Results shows that women managers also tend to act towards an effective AIS, which
consequently has an impact on the quality of FI (Piosik et al., 2019; Lara et al., 2017; Arun et al., 2015; Peni and Vähämaa, 2010).
Covering a gap in the literature, this study highlights the importance of the presence of women managers for IF quality (H3).
As regards the relationship between FI quality and FI usefulness (H4), this is positive and significant, which is in accordance with
the accounting standards, i.e. that FI is useful for a wide range of users if it conforms to the requisite set of qualitative characteristics.
Results are consistent with arguments from previous studies (Cepêda and Monteiro, 2020; Fitriati and Susanto, 2017; Soudani, 2012).
Originally, our empirical evidence indicates that FI quality directly impacts the NF Performance and that FI Usefulness mediating
the relationship between FI quality and NF Performance, supporting the H5 and H6. Our results are in line with previous studies which
suggest that there is a direct relationship between the quality/usefulness of FI in the NF Performance (Monteiro et al., 2022a; Monteiro
et al., 2021a; Budiarto et al., 2018).
This paper, as a ground-breaking study, contributes to the literature on the subject, as we present evidence concerning the
contingent factors that determine NF Performance from the point of view of the managers of Portuguese companies. Our results,
originally, highlight the importance of women in management for the NF performance of companies and that AIS quality is an
important variable that mediates the relationship between Women Managers and FI quality and that FI usefulness improves the
relationship between FI quality and NF Performance. This research is also relevant for accounting and management professionals, as it
identifies the importance of FI quality/usefulness for the survivability and profitability of companies.
As is true of all studies, our study has some limitations. The first limitation concerns the sample size. Therefore, we used a con­
venience sampling (and non-probability sampling). This is the main limitation, and it restricts the generalization of results. Future
research of this type should be conducted with respect to other countries in order to be able to compare results gathered in a similar
fashion from related contexts, notwithstanding the differences inherent to each country. It will also be interesting to try to investigate
whether resistance to the entry of women in the management of organizations, certainly linked to historical and cultural issues, is
eventually also associated with men’s prior knowledge of women’s management qualities, and consequent apprehension regarding the
loss of status.
Finally, other variables can be added to the model, such as the good corporate governance, audit function and quality/usefulness of
NF information, since previous research suggests that the quality/usefulness of financial and NF information may lead to the speci­
fication of influences on decision-making and business performance (Sievers et al., 2013; Anggoro, 2018; Phornlaphatrachakorn,
2019; Rashedi and Dargahi, 2019).

Declaration of competing interest

The authors declare that they have no known competing financial interests or personal relationships that could have appeared to
influence the work reported in this paper.

Data availability

No data was used for the research described in the article.

8
A.P. Monteiro et al. International Journal of Accounting Information Systems 54 (2024) 100692

References

Ainur, A.K., Sayang, M.D., Jannoo, Z., Yap, B.W., 2017. Sample size and non-normality effects on goodness of fit measures in structural equation models. Pertanika J.
Sci. Technol. 25 (2), 575–586.
Al-Dmour, A.H., Abbod, M., Al-Balqa, N.S., 2018. The impact of the quality of financial reporting on non-financial business performance and the role of organizations
demographic’ attributes (type, size and experience). Acad. Account. Financ. Stud. J. 22 (1), 1–16.
Amoako, G.K., 2013. Accounting practices of SMEs: A case study of Kumasi Metropolis in Ghana. Int. J. Bus. Manage. 8 (24), 73–83.
Anggoro, D., 2018. Effect of accounting information system for internal control «Sippuh online» in pt. Dwimajaya Utama. Russ. J. Agric. SocioEcon. Sci. 8 (80),
167–171. https://doi.org/10.18551/rjoas.2018-08.22 EFFECT.
Arun, T.G., Almahrog, Y.E., Aribi, Z.A., 2015. Female directors and earnings management: Evidence from UK companies. Int. Rev. Financ. Anal. 39, 137–146.
Athanasou, J.A., Perera, H.N., 2019. International Handbook of Career Guidance. Springer, Cham https://doi.org/10.1007/978-3-030-25153-6.
Barbosa, F., Monteiro, A.P., Pereira, C., 2021. Determinants of environmental responsibility disclosure on mandatory and voluntary reporting of portuguese listed
firms. J. Environ. Account. Manag. 9 (03), 219–233.
Bear, S., Rahman, N., Post, C., 2010. The impact of board diversity and gender composition on corporate social responsibility and firm reputation. J. Bus. Ethics 97,
207–221.
Bertolami, M., Artes, R., Gonçalves, P.J., Hashimoto, M., Lazzarini, S.G., 2018. Sobrevivência de empresas nascentes: influência do capital humano, social, práticas
gerenciais e gênero. Rev. Admin. Contemp. 22 (3), 311–335. https://doi.org/10.1590/1982-7849rac2018160121.
Binh, V.T.T., Tran, N.-M., Thanh, D.M., Pham, H.-H., 2020. Firm size, business sector and quality of accounting information systems: Evidence from Vietnam.
Accounting 6, 327–334. https://doi.org/10.5267/j.ac.2020.2.002.
Bondt, W.F., Thaler, R.H., 1995. Financial decision-making in markets and firms: A behavioral perspective. Handbooks Oper. Res. Manage. Sci. 9, 385–410.
Budiarto, D. S., Rahmawati, Prabowo, M. A., Bandi, Djajanto, L., Widodo, K. P., Herawan, T. (2018). Accounting information system (ais) alignment and non-financial
performance in small firm: a contingency perspective. In Computational Science and Its Applications–ICCSA 2018: 18th International Conference, Melbourne,
VIC, Australia, July 2-5, 2018, Proceedings, Part II 18 (pp. 382-394). Springer International Publishing.
Cadez, S., Guilding, C., 2008. An exploratory investigation of an integrated contingency model of strategic management accounting. Account. Organ. Soc. 33,
836–863.
Cepêda, C.L.M., Monteiro, A.P., 2020. A percepção dos contabilistas sobre a utilidade da informação financeira na tomada de decisão: Um estudo em Portugal. Rev.
Bras. Gestão Negócios 22 (2), 363–380.
Ciuhureanu, A., 2018. Management accounting – Managerial obligation or need. Land Forces Acad. Rev. 23 (4), 282–287.
Dewi, N.F., Ferdous Azam, S.M., Yusoff, S.K.M., 2019. Factors influencing the information quality of local government financial statement and financial
accountability. Manage. Sci. Lett. 9, 1373–1384. https://doi.org/10.5267/j.msl.2019.5.013.
Dornier, P., 2018. Investigating the impact of comprehensive information systems on accounting information quality. Electron. Bus. J. 17, 1–15.
Drum, D., Pernsteiner, A., Revak, A., 2017. Workarounds in an SAP environment: impacts on accounting information quality”. J. Account. Organ. Chang. 13 (1),
44–64. https://doi.org/10.1108/JAOC-05-2015-0040.
Eierle, B., Schultze, W., 2013. The role of management as a user of accounting information: Implications for standard setting. Account. Manage. Inf. Syst. 12(2,
155–189. https://doi.org/10.2139/ssrn.1130162.
Emeka-Nwokeji, N.A., 2012. Repositioning accounting information system through effective data quality management: A framework for reducing costs and improving
performance. Int. J. Sci. Technol. Res. 1 (10), 86–94.
Erhardt, N., Werbel, J., Shrader, C., 2003. Board of director diversity and firm financial performance. Corp. Gov. 11, 102–110.
Fitriati, A., Susanto, A., 2017. The accounting information system quality improvement through internal control and top management support effectiveness. J. Theor.
Appl. Inf. Technol. 95 (19), 5003–5011.
Fondas, N., Sassalos, S., 2000. A different voice in the boardroom: how the presence of women directors affects board influence over management. Glob. Focus. 12,
13–22.
Fornell, C., Larcker, D., 1981. Evaluating structural equation models with unobserved variables and measurement error. J. Mark. Res. 18 (1), 39–50.
Gajevszky, A., 2015. Assessing financial reporting quality: Evidence from Romania. Audit. Financiar. 13 (121), 69–80.
Gati, I., Levin, N., 2014. Counseling for career decision-making difficulties: measures and methods. Career Dev. Q. 62 (2), 98–113. https://doi.org/10.1002/j.2161-
0045.2014.00073.x.
Gerayli, M.S., Pitenoei, Y.R., Abdollahi, A., 2021. Do audit committee characteristics improve financial reporting quality in emerging markets? Evidence from Iran.
Asian Rev. Account. 29(2, 251–267.
Gorla, N., Somers, T.M., Wong, B., 2010. Organizational impact of system quality, information quality, and service quality. J. Strateg. Inf. Syst. 19 (3), 207–228.
https://doi.org/10.1016/j.jsis.2010.05.001.
Gull, A.A., Abid, A., Latief, R., Usman, M., 2021. Women on board and auditors’ assessment of the risk of material misstatement. Eurasian Bus. Rev. 11, 679–708.
Haleem, A., Teng, K.L., 2018. Impact of user competency on accounting information system success: banking sectors in Sri Lanka. Int. J. Econ. Financ. Issues 8 (6),
167–175.
Hernaus, T., Pejić Bach, M., Bosilj Vukšić, V., 2012. Influence of strategic approach to BPM on financial and non-financial performance. Balt. J. Manag. 7 (4),
376–396. https://doi.org/10.1108/17465261211272148.
Ibrahim, F., Ali, D.N.H., Besar, N.S.A., 2020. Accounting information systems (AIS) in SMEs: Towards an integrated framework. International Journal of Asian
Business and Information Management 11 (2), 51–67. https://doi.org/10.4018/IJABIM.2020040104.
INE (2020). Constituição e dissolução de pessoas coletivas e entidades equiparadas (N.o) por Localização geográfica (NUTS - 2013) e Atividade económica (CAE Rev.
3); Mensal. Accessed on 04 August 2020. Retrieved from https://www.ine.pt/xportal/xmain?xpid=INE&xpgid=ine_
indicadores&contecto=pi&indOcorrCod=0008067&selTab=tab0 visualizada a 11 de junho 2020.
Jaffar, N., Selamat, Z., Ismail, N., Hamzah, H., 2012. The usefulness of the SMEs’ accounting information. J. Mod. Account. Audit. 8 (10), 1407–1418.
Jamali, D., Safieddine, A., Daouk, M., 2007. Corporate governance and women: an empirical study of top and middle women managers in the Lebanese banking
sector. Corp. Govern. Int. J. Bus. Soc. 7 (5), 574–585.
Ježovita, A., 2015. Accounting information in a business decision-making process – evidence from Croatia. Zagreb. Int. Rev. Econ. Bus. 18 (1), 61–79. https://doi.org/
10.1515/zireb-2015-0004.
Jonas, G.J., Blanchet, J., 2000. Assessing quality of financial reporting”. Account. Horiz. 14 (3), 353–363.
Jumaili, S., 2005. Kepercayaan terhadap teknologi sistem informasi baru dalam evaluasi kinerja individual. Jurnal Dan Prosiding Simposium Nasional Akuntansi 8,
722–735.
Jung, W. (2004). A Review of Research: An Investigation of the Impact of Data Quality on Decision Performance. ACM International Conference Proceeding Series,
Proceedings of the 2004 international symposium on Information and communication technologies, 90, 16–171.
Kaplan, D., Krishnan, R., Padman, R., Peters, J., 1998. Assessing data quality in information. Paperboard Packag. 41 (2), 73–78. https://doi.org/10.3362/
9781780445427.005.
Kocsis, D., 2019. A conceptual foundation of design and implementation research in accounting information systems. Int. J. Account. Inf. Syst. 34, 100420.
Kpurugbara, N., Akpos, Y.E., Nwiduuduu, V., Tams-Wariboko, I., 2016. Impact of accounting information system on organizational effectiveness-a study of selected
small and medium scale enterprises in Woji, Portharcourt”. Int. J. Res. Bus. Manage. Account. 2 (1), 62–72.
Krishnan, G.V., Parsons, L.M., 2008. Getting to the bottom line: An exploration of gender and earnings quality. J. Bus. Ethics 78 (1), 65–76.
Labelle, R., Makni Gargouri, R., Francoeur, C., 2010. Ethics, diversity management, and financial reporting quality. J. Bus. Ethics 93, 335–353.
Lara, J.M.G., Osma, B.G., Mora, A., Scapin, M., 2017. The monitoring role of female directors over accounting quality. Finance 45, 651–668.
Laudon, K.C., Laudon, J.P., 2014. Management Information Systems, Managing the Digital Firm. 13ed. Prentice Hall, Hoboken, New Jersey.

9
A.P. Monteiro et al. International Journal of Accounting Information Systems 54 (2024) 100692

Majid, J., Suwandi, M., Bulutoding, L., Sumarlin, Wawo, A., 2020. The influence of accounting information systems and internal control on the quality of financial
statement with intellectual intelligence as a moderating variable (a study on coffee shops in Makassar city). Int. J. Res. Sci. Manage. 7 (3), 1–19.
Marôco, J., 2010. Análise de equações estruturais: Fundamentos teóricos, software & aplicações. ReportNumber, Lda, Lisboa, Portugal.
Meiryani, F., Susanto, A., Warganegara, D.L., 2019. The effect of accounting information systems performance and unthetic behavior on accounting fraud. Int. J. Rec.
Technol. Eng. (IJRTE) 8 (3), 2718–2725.
Melero, E., 2011. Are workplaces with many women in management run differently? J. Bus. Res. 64 (4), 385–393.
Menicucci, E., 2019. Earnings Quality: Definitions, Measures, and Financial Reporting. Springer Nature, Basingstoke, United Kingdom https://doi.org/10.2308/
acch.2003.17.s-1.97.
Mock, T.J., Wright, A., Srivastava, R.P., Lu, H., 2008. The framing and evaluation of multiple hypotheses. Asia-Pac. J. Account. Econ. 15 (2), 123–140.
Monteiro, A.P., Vale, J., Silva, A., 2021a. Factors determining the success of decision making and performance of Portuguese companies. Admin. Sci. 11 (4), 108.
Monteiro, A.P., Vale, J., Silva, A., Pereira, C., 2021b. Impact of the internal control and accounting systems on the financial information usefulness: The role of the
financial information quality. Acad. Strateg. Manag. J. 20, 1–13.
Monteiro, A.P., Vale, J., Silva, A., Pereira, C., 2021c. Impact of the internal control and accounting systems on the financial information usefulness: The role of the
financial information quality. Acad. Strateg. Manag. J. 20 (3), 1–13.
Monteiro, A.P., García-Sánchez, I.M., Aibar-Guzmán, B., 2022a. Labour practice, decent work and human rights performance and reporting: The impact of women
managers. J. Bus. Ethics 180 (2), 523–542.
Monteiro, A.P., Vale, J., Leite, E., Lis, M., Kurowska-Pysz, J., 2022b. The impact of information systems and non-financial information on company success. Int. J.
Account. Inf. Syst. 45, 100557.
Monteiro, A.P., Cepêda, C., Pereira, C., Silva, A., 2023. Social performance disclosed by European companies: the role of the board attributes and the country’s legal
system. J. Risk Financ. Manage. 16 (6), 284.
Montenegro, T.M., Rodrigues, L.L., 2020. Determinants of the attitudes of Portuguese accounting students and professionals towards earnings management. J. Acad.
Ethics 18 (3), 301–332.
Muda, I., Haris Harahap, A., Erlina, E., Ginting, S., Maksum, A., Abubakar, E., 2018. Factors of quality of financial report of local government in Indonesia. IOP Conf.
Series: Earth Environ. Sci. 126 (1), 1–6. https://doi.org/10.1088/1755-1315/126/1/012067.
Mulcahy, M., Linehan, C., 2014. Females and precarious board positions: Further evidence of the glass cliff. Br. J. Manag. 25 (3), 425–438.
Murimi, M., Wadongo, B., Olielo, T., 2021. Determinants of revenue management practices and their impacts on the financial performance of hotels in Kenya: a
proposed theoretical framework. Future Bus. J. 7 (1), 1–7.
Nakagawa, Y., Schreiber, G.M., 2014. Women as drivers of Japanese firms’ success: The effect of women managers and gender diversity on firm performance”.
J. Divers. Manage. (JDM) 9 (1), 19–40.
Napitupulu, I.H., 2018. Organizational culture in management accounting information system: survey on state-owned enterprises (SOEs) Indonesia”. Glob. Bus. Rev.
19 (3), 556–571. https://doi.org/10.1177/0972150917713842.
Neely, A. (2007). Measuring Performance: The Operations Management Perspective. Business Performance Measurement. Unifying Theory and Integrating Practice,
2nd Edition, Cambridge University Press, Cambridge: 64-81.
O’Brien, J.A., Marakas, G.M. (2011). Management Information Systems (Ed. 9), McGraw-Hill/Irwin, New York, United States.
Ong, C.S., Day, M.Y., Hsu, W.L., 2009. The measurement of user satisfaction with question answering systems. Inf. Manag. 46 (7), 397–403. https://doi.org/10.1016/
j.im.2009.07.004.
Patel, S.B.P., 2015. Effects of accounting information system on organizational profitability”. Int. J. Res. Anal. Rev. 2 (1), 72–76.
Peni, E., Vähämaa, S., 2010. Female executives and earnings management. Manag. Financ. 36 (7), 629–645. https://doi.org/10.1108/03074351011050343.
Phornlaphatrachakorn, K., 2019. Internal control quality, accounting information usefulness, regulation compliance, and decision- making success: evidence from
canned and processed foods businesses in Thailand. Int. J. Bus. 24 (2), 198–215.
Piosik, A., Strojek-Filus, M., Sulik-Górecka, A., Szewieczek, A., 2019. Gender and age as determinants of job satisfaction in the accounting profession: evidence from
Poland”. Sustainability 11, 3090.
Rashedi, H., Dargahi, T., 2019. How influence the accounting information systems quality of internal control on financial reporting quality Hadi”. J. Mod. Devel.
Manage. Account. 2 (5), 33–45.
Rezaei Pitenoei, Y., Safari Gerayli, M., Abdollahi, A., 2021. Financial reporting quality and firms’ information environment: a case of Iranian firms. Int. J. Islam.
Middle East. Financ. Manag. 14 (3), 541–560. https://doi.org/10.1108/IMEFM-04-2019-0146.
Rodríguez-Ariza, L., Cuadrado-Ballesteros, B., Martínez-Ferrero, J., García-Sánchez, I.M., 2017. The role of female directors in promoting CSR practices: An
international comparison between family and non-family businesses. Bus. Ethics: Eur. Rev. 26 (2), 162–174.
Sajady, H., Dastgir, M., Hashem Nejad, H., 2008. Evaluation of the effectiveness of accounting information systems. Int. J. Inf. Sci. Manage. 6 (2), 49–59.
Salehi, M., Rostami, V., Mogadam, A., 2010. Usefulness of accounting information system in emerging economy: Empirical evidence of Iran. Int. J. Econ. Financ. 2 (2),
186–195.
Sari, N.Z.M., Afifah, N.N., Susanto, A., Sueb, M., 2019. Quality accounting information systems with 3 important factors in BUMN Bandung Indonesia. Adv. Soc. Sci.
Educ. Hum. Res. 343 (1), 93–96. https://doi.org/10.2991/icas-19.2019.20.
Shahzad, F., Rehman, I.U., Colombage, S., Nawaz, F., 2019. Financial reporting quality, family ownership, and investment efficiency. Manag. Financ. 45 (4), 513–535.
Sievers, S., Mokwa, C.F., Keienburg, G., 2013. The relevance of financial versus non-financial information for the valuation of venture capital-backed firms. Eur.
Account. Rev. 22 (3), 467–511. https://doi.org/10.2139/ssrn.1449740.
Soudani, S.N., 2012. The usefulness of an accounting information system for effective organizational performance. Int. J. Econ. Financ. 4 (5), 136–145. https://doi.
org/10.5539/ijef.v4n5p136.
Srinidhi, B.I.N., Gul, F.A., Tsui, J., 2011. Female directors and earnings quality. Contemp. Account. Res. 28 (5), 1610–1644.
Stedham, Y., Yamamura, J.H., Beekun, R.I., 2007. Gender differences in business ethics: Justice and relativist perspectives. Bus. Ethics: Eur. Rev. 16 (2), 163–174.
Steenkamp, J.B.E.M., van Trijp, H.C.M., 1991. The use of Lisrel in validating marketing constructs. Int. J. Res. Mark. 8 (4), 283–299.
Suharsono, R.S., Nirwanto, N., Zuhroh, D., 2020. Voluntary disclosure, financial reporting quality and asymmetry information. J. Asian Finan. Econ. Bus. 7 (12),
1185–1194.
Ta, Q.B., Nguyen, T.T., 2020. Impact of factors on the quality of accounting information system in civil engineering construction enterprises. Manage. Sci. Lett. 10
(13), 2985–2992. https://doi.org/10.5267/j.msl.2020.5.027.
Thapayom, A., Ussahawanitchakit, P., 2015. Accounting information system excellence and goal achievement: evidence from information and communication
technology businesses in Thailand. Bus. Manage. Rev. 7 (1), 9–10.
Thorne, L., Massey, D.W., Magnan, M., 2003. Institutional context and auditors’ moral reasoning: A Canada-US comparison. J. Bus. Ethics 43 (4), 305–321.
Thuan, L.D., Huong, T.T.T., 2019. Organizational factors and quality of accounting information system in Vietnam. Glob. J. Al-Thaqafah 9 (1), 49–58.
Tommasetti, R., da Silva Macedo, M.Á., de Carvalho, F.A.A., Barile, S., 2019. Better with age: Financial reporting quality in family firms. J. Fam. Bus. Manage. 10 (1),
40–57. https://doi.org/10.1108/JFBM-04-2019-0020.
Turner, L., Weickgenannt, A.B., Copeland, M.K., 2020. Accounting Information Systems: Controls and Processes. John Wiley & Sons, Hoboken, New Jersey.
Waddock, S., 2005. Hollow men and women at the helm… hollow accounting ethics? Issues Account. Educ. 20 (2), 145–150.
Widjajanto, D.W., 2001. Studies on the release of N from water hyacinth incorporated into soil-crop systems using^< 15> N-labeling techniques. Pak. J. Biol. AIS 4,
1075–1077.

10
A.P. Monteiro et al. International Journal of Accounting Information Systems 54 (2024) 100692

Wixom, B.H., Todd, P.A., 2005. A theoretical integration of user satisfaction and technology acceptance. Inf. Syst. Res. 16 (1), 85–102.
Xu, H., 2015. What are the most important factors for accounting information quality and their impact on ais data quality outcomes?”. J. Data Inf. Qual. (JDIQ) 5 (4),
1–22.
Zhu, Y., Mustafa Kamal, E., Gao, G., Ayub Ahmed, A.A., Asadullah, A.B.M., Donepudi, P.K., 2021. Excellence of financial reporting information and investment
productivity. Int. J. Nonlinear Anal. Appl. 12 (1), 75–86.

Albertina Paula Monteiro Ph.D in Marketing and Strategy and Ph.D in Economics and Business, specialising in accounting, Coordinating Professor at Porto Accounting
and Business School, Polytechnic of Porto. Her main areas of research are financial accounting, sustainability reporting, accounting information system and making
decisions. She has published numerous scientific articles in indexed international journals and in the proceedings of international conferences.

Joana Vale, Master’s student in Accounting and Finance at Accounting and Business School Polytechnic of Porto. Professional in accounting and auditing.

Eduardo Leite Ph.D. in Management at University of Tras-os-Montes e Alto Douro, Portugal. Management Professor at the University of Madeira. Researcher at CiTUR.
Co-inventor of the patent “Seaweed extracts, methods and uses thereof”. Coordinator of National and European projects, such as “Blue Iodine” Call INNOV-ID, Portugal
Ventures, in partnership with ANI – National Innovation Agency, PME Investments, and Startup Portugal. H2020 SME Instrument, Project “Boost BLUE economy
through market uptake an innovative seaweed bio extract for IODINE fortification II”, And “INTERREG MAC2/4.6c/365 INTERREG V A Spain-Portugal SABOREA,
Canary Islands co-promotion, Senegal, Azores, Cape Verde, Mauritania, Madeira”. Correspondence to: Campus da Penteada, 9020-105 Funchal, Madeira.

Marcin Lis PhD in Technical Science, expert in quality systems and managing innovative projects and integrated systems. A long-time executive manager in Orange S. A.
Has a wide corporal experience acquired in international service companies, a former employee of a managing position responsible for managing quality and processes,
marketing, projects as well as customer service. Chairman of Board of Experts in WSB University and vice-chairman of Industry 4.0 Committee created by Chamber of
Commerce and Industry in Katowice, vice president of Lewiatan - Silesian Employers’ Association. Awarded with Silver Cross of Merit and Medal of Commission of
National Education.

11