Contemporary Accounting Research最新文献_第2页

The impact of the classified voting system on corporate investment and equity value

IF 3.2 3区管理学

Contemporary Accounting Research Pub Date : 2024-12-11 DOI: 10.1111/1911-3846.13002

Qinglu Jin, Sirui Wu

{"title":"The impact of the classified voting system on corporate investment and equity value","authors":"Qinglu Jin, Sirui Wu","doi":"10.1111/1911-3846.13002","DOIUrl":"https://doi.org/10.1111/1911-3846.13002","url":null,"abstract":"Granting decision rights to minority shareholders protects them from expropriation by controlling shareholders, but it simultaneously fosters a mismatch between decision rights and decision-relevant information. Using the setting of China's classified voting system (CVS), which requires minority shareholder approval for managerial proposals, this study investigates the effect of such a regulation on investment responsiveness to profitability and equity value attributable to growth options. Following the real-options-based valuation model, we document that the adoption of CVS diminishes both investment responsiveness and equity value. This reduction is attributed to heightened financial constraints following the CVS implementation. Further analyses show the negative impacts are more pronounced for firms experiencing greater information asymmetry, lower mutual fund holdings, and severe agency conflicts. Our evidence indicates that the efficacy of the regulation is contingent on the alignment between decision rights of minority shareholders and decision-relevant information available to them. Our findings thus provide insights to the regulators regarding the advantages and disadvantages of allowing minority shareholders direct influence over corporate decision-making.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 1","pages":"391-417"},"PeriodicalIF":3.2,"publicationDate":"2024-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143645749","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Is more always better? An experimental examination of the effects of feedback frequency, narcissistic oversensitivity, and growth mindset on performance accuracy

IF 3.2 3区管理学

Contemporary Accounting Research Pub Date : 2024-12-11 DOI: 10.1111/1911-3846.13005

Joseph A. Johnson, Khim Kelly, Wioleta Olczak

{"title":"Is more always better? An experimental examination of the effects of feedback frequency, narcissistic oversensitivity, and growth mindset on performance accuracy","authors":"Joseph A. Johnson, Khim Kelly, Wioleta Olczak","doi":"10.1111/1911-3846.13005","DOIUrl":"https://doi.org/10.1111/1911-3846.13005","url":null,"abstract":"The provision of more frequent feedback to employees is increasing, although prior research has found mixed results as to the effect of increased feedback frequency on employee performance. Narcissism research identifies narcissistic oversensitivity as a key narcissistic subdimension that may result in particularly strong responses to performance feedback. We predict and find in an experiment that increased performance feedback frequency has a more negative impact on the performance accuracy of individuals with higher levels of narcissistic oversensitivity and that this negative interactive effect of feedback frequency and narcissistic oversensitivity is mitigated by the priming of a growth mindset. These results should be of practical interest to firms as they design their management control systems to improve employee performance, considering the variation in narcissistic oversensitivity among their employees. These results also contribute to recent accounting research on the effects of feedback frequency and employee mindsets.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 1","pages":"418-445"},"PeriodicalIF":3.2,"publicationDate":"2024-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.13005","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143645791","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

LGBTQI+ professional accountants and the consequences of stigmatization: An identity work perspective

IF 3.2 3区管理学

Contemporary Accounting Research Pub Date : 2024-12-09 DOI: 10.1111/1911-3846.13006

Alessandro Ghio, Bertrand Malsch, Nicholas McGuigan

{"title":"LGBTQI+ professional accountants and the consequences of stigmatization: An identity work perspective","authors":"Alessandro Ghio, Bertrand Malsch, Nicholas McGuigan","doi":"10.1111/1911-3846.13006","DOIUrl":"https://doi.org/10.1111/1911-3846.13006","url":null,"abstract":"Using a qualitative research design and drawing on an identity work perspective, we explore how LGBTQI+ professional accountants relate their self-identity to their professional occupation and manage their stigmatized identity at work. Sharing original empirical data from focus groups and semi-structured interviews with LGBTQI+ professional accountants, we show how they engage in inward-facing identity work by resisting stigmatizing pressures by conceiving of a self that is both outside the norm (“deviant”) and adapted to it (i.e., a deviant-adapted self). However, we also find that stigmatized identities can be embraced by participants as legitimate sources of distinct professional dispositions and a more powerful work ethic. This finding offers a less confrontational view of how marginalized identities and sexuality intersect with the accounting profession. In outward-facing processes of identity work, we show considerable variations in how and when participants communicate about their stigmatized identity. Finally, we highlight the collective dynamic of stigma management as a fundamental condition of possibility for targets to overcome the limits of atomized individual action. However, this collective dynamic entails the risk of all targets being absorbed into a collective representation and social-identity that either makes them invisible, or directly opposes certain aspects of their self-identity. In this respect, we show how some of our participants actively contribute to the creation of a collective social-identity to combat stigmatization within firms, which in turn generates symbolic power differentials and symbolic violence within LGBTQI+ professional accountants.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 1","pages":"360-390"},"PeriodicalIF":3.2,"publicationDate":"2024-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.13006","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143646026","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Do donors value volunteer commitment in assessing nonprofit effectiveness?

IF 3.2 3区管理学

Contemporary Accounting Research Pub Date : 2024-12-07 DOI: 10.1111/1911-3846.12997

Amanda W. Beck, Sarah A. Garven, Michelle Higgins Yetman

{"title":"Do donors value volunteer commitment in assessing nonprofit effectiveness?","authors":"Amanda W. Beck, Sarah A. Garven, Michelle Higgins Yetman","doi":"10.1111/1911-3846.12997","DOIUrl":"https://doi.org/10.1111/1911-3846.12997","url":null,"abstract":"Evaluating organizational effectiveness is a significant challenge for nonprofit donors making donation allocation decisions. Donations may be misallocated if organizational effectiveness is inadequately assessed, and donors, who are often organizational outsiders, rely on nonprofit disclosures on IRS Form 990 to make such assessments. We examine whether donors value volunteer commitment, as measured by the number of volunteers that nonprofits disclose on Form 990, alongside financial and governance disclosures in assessing organizational effectiveness. Donors and volunteers prefer to make respective gifts of money and time to nonprofits that are effective in furthering their missions. Based on the premise that volunteers, as organizational insiders, are better positioned than donors to judge the impact of their contributions, we hypothesize that volunteer commitment provides value-relevant information to donors for use in assessing imprecise effectiveness signals—namely, the program ratio and corporate governance disclosures. Consistent with this, we find that the value relevance of the program ratio and corporate governance disclosures to donors is increasing with the level of volunteer commitment. These results suggest that donors view volunteer commitment as a signal of effectiveness, useful in interpreting other signals of effectiveness. The evidence is more pronounced among nonprofits that report more credible volunteer disclosures, have a larger proportion of sophisticated donors, and are more complex. These findings have implications for regulators considering nonprofit disclosure policies, as well as nonprofit managers and directors engaging volunteers.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 1","pages":"325-359"},"PeriodicalIF":3.2,"publicationDate":"2024-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143645678","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Income smoothing in banks: Obfuscation or information?

IF 3.2 3区管理学

Contemporary Accounting Research Pub Date : 2024-12-04 DOI: 10.1111/1911-3846.12990

Ganapathi S. Narayanamoorthy, P. Barrett Wheeler

{"title":"Income smoothing in banks: Obfuscation or information?","authors":"Ganapathi S. Narayanamoorthy, P. Barrett Wheeler","doi":"10.1111/1911-3846.12990","DOIUrl":"https://doi.org/10.1111/1911-3846.12990","url":null,"abstract":"Discretionary income smoothing has been argued to increase bank opacity and degrade financial system stability by making banks more difficult to monitor. However, no direct empirical association between discretionary smoothing and opacity has been established to date. We argue that smoothing could reflect either the opportunistic exercise of discretion that disconnects loan loss provisions (LLPs) from changes in underlying credit quality, consistent with smoothing increasing opacity, or an informative exercise of discretion to communicate forward-looking information about loan losses. We examine the association between discretionary smoothing and the informativeness of LLPs for a sample of banks from 1994 to 2019 and find that discretionary smoothing is, on average, associated with more informative LLPs. However, this association is nuanced, with cross-sectional differences and changes over time. We find evidence that an intervention by the SEC into bank LLP practices in the late 1990s curbed opportunistic smoothing via provisioning for homogeneous loans. Subsequently, smoothing is associated with more informative provisions, including for banks with both more homogeneous and more heterogeneous loan portfolios. Our findings are inconsistent with the notion that smoothing may be associated with greater opacity.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 1","pages":"285-324"},"PeriodicalIF":3.2,"publicationDate":"2024-12-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12990","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143645967","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Disclosure spillover from going-private activity

IF 3.2 3区管理学

Contemporary Accounting Research Pub Date : 2024-12-02 DOI: 10.1111/1911-3846.12995

Lisa A. Hinson, Zhenhao (Jeffery) Piao

引用次数: 0

Auditor political connections and SEC oversight

IF 3.2 3区管理学

Contemporary Accounting Research Pub Date : 2024-11-29 DOI: 10.1111/1911-3846.12988

Jagan Krishnan, Meng Li, Hyun Jong Park

{"title":"Auditor political connections and SEC oversight","authors":"Jagan Krishnan, Meng Li, Hyun Jong Park","doi":"10.1111/1911-3846.12988","DOIUrl":"https://doi.org/10.1111/1911-3846.12988","url":null,"abstract":"We examine whether auditor political connections are associated with the SEC's oversight of audit clients. Specifically, we test whether auditors' political action committee contributions are associated with three SEC oversight actions: comment letters, investigations, and Accounting and Auditing Enforcement Releases (AAERs). Consistent with higher political connections inducing heightened scrutiny from the SEC, we find that the clients of auditors with higher political connections are more likely to receive comment letters and face SEC investigations. However, conditional on SEC investigation, we find no association between auditor political connections and the issuance of AAERs. We consider heightened attention from investors and analysts toward audit clients as one possible mechanism leading to increased SEC scrutiny because auditor political connections could be perceived as a red flag. Using EDGAR downloads and the number of earnings forecast revisions, we document evidence consistent with the existence of this mechanism. These findings add to our understanding of how auditor political connections could influence SEC oversight over audit clients.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 1","pages":"217-246"},"PeriodicalIF":3.2,"publicationDate":"2024-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143646263","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Surviving busy season: Using the job demands-resources model to investigate coping mechanisms

IF 3.2 3区管理学

Contemporary Accounting Research Pub Date : 2024-11-27 DOI: 10.1111/1911-3846.12999

Devon P. Jefferson, Lindsay M. Andiola, Patrick J. Hurley

{"title":"Surviving busy season: Using the job demands-resources model to investigate coping mechanisms","authors":"Devon P. Jefferson, Lindsay M. Andiola, Patrick J. Hurley","doi":"10.1111/1911-3846.12999","DOIUrl":"https://doi.org/10.1111/1911-3846.12999","url":null,"abstract":"Fatigue and burnout are root causes of audit quality issues and turnover. Leveraging the job demands-resources theory, we investigate whether two mechanisms can reduce accountants' fatigue and, in turn, improve audit quality. We conduct a field study of public accountants during both normal and busy season work periods, collecting bi-daily logs to examine whether the use of microbreaks (i.e., brief respite activities) as a job crafting mechanism and/or the receipt of supervisory support as a job resource lessen end-of-day fatigue. We posit and find that engaging in microbreaks is associated with reduced end-of-day fatigue within busy season. Similarly, we posit and find that higher levels of daily supervisory support during busy season are associated with lower end-of-day fatigue. However, neither of these mechanisms is associated with lower end-of-day fatigue during normal work periods. Our results also indicate that these two mechanisms function as complements during busy season, with either one significantly reducing end-of-day fatigue, but both together having an interactive effect. Further, end-of-day fatigue during busy season reduces sleep quality, which increases accountants' fatigue the following morning. In a follow-up experiment, we consistently find evidence that a 1-min microbreak reduces fatigue and that this reduction directly translates into improved error detection.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 1","pages":"187-216"},"PeriodicalIF":3.2,"publicationDate":"2024-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12999","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143646271","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Leadership ability: Labor market outcomes, organizational benefits, and talent management in the auditing profession

IF 3.2 3区管理学

Contemporary Accounting Research Pub Date : 2024-11-26 DOI: 10.1111/1911-3846.12998

Ting Dong, Juha-Pekka Kallunki, Henrik Nilsson, Ann Vanstraelen

{"title":"Leadership ability: Labor market outcomes, organizational benefits, and talent management in the auditing profession","authors":"Ting Dong, Juha-Pekka Kallunki, Henrik Nilsson, Ann Vanstraelen","doi":"10.1111/1911-3846.12998","DOIUrl":"https://doi.org/10.1111/1911-3846.12998","url":null,"abstract":"Leadership is considered a core competency for auditors. This study examines how auditors' leadership ability affects their labor market outcomes and audit firm performance. Using Swedish military data on qualified auditors (CPAs), we first show that auditors' leadership ability, measured at around age 18, is a strong predictor of their income and career success. However, our results also suggest that the audit labor market compensates for auditors' leadership ability at a much later stage than the general labor market. Second, we examine whether the value of leadership ability derives from higher-quality auditing, commercial performance, or both. We find strong evidence that leadership ability enhances auditors' commercial performance and some evidence on leadership ability being associated with higher audit quality. Third, at the audit firm level, we find that auditors' leadership ability significantly benefits audit firm performance measured as client portfolio size and audit firm profitability. Finally, we investigate leadership talent attraction and retention in the auditing profession. We find that the auditing profession attracts better leadership talent than the general labor market. Although nearly a quarter of CPAs leave the profession over the sample period, there is no significant difference in leadership ability between those who stay and those who leave. Overall, our results have important practical implications for audit firms' talent management.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 1","pages":"153-186"},"PeriodicalIF":3.2,"publicationDate":"2024-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.12998","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143646286","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

PCAOB inspection deficiencies and future financial reporting quality: Do the types of deficiencies matter?

IF 3.2 3区管理学

Contemporary Accounting Research Pub Date : 2024-11-25 DOI: 10.1111/1911-3846.13000

Patience Constance, Clive Lennox, Chan Li

{"title":"PCAOB inspection deficiencies and future financial reporting quality: Do the types of deficiencies matter?","authors":"Patience Constance, Clive Lennox, Chan Li","doi":"10.1111/1911-3846.13000","DOIUrl":"https://doi.org/10.1111/1911-3846.13000","url":null,"abstract":"This study examines whether PCAOB inspection reports are useful for signaling the risk of misstatements in future periods and the extent to which different types of audit deficiencies predict future misstatements. We find that, after the inspection report is issued, PCAOB-identified audit deficiencies are positively associated with future misstatements for the audit firm's entire client portfolio. When we examine different types of deficiencies, we find that an auditor's failure to understand the client's accounting procedures or policies is the most detrimental type of deficiency for future reporting quality. We also examine the deficiency types for Big 4 versus non–Big 4 firms separately. The results show that an auditor's failure to understand the client's accounting procedures or policies is the only deficiency type that is positively associated with future misstatements for Big 4 firms. For non–Big 4 firms, however, future misstatements are predicted by an auditor's failure to understand the client's accounting procedures or policies, inadequate substantive testing, and inadequate going-concern assessments. Our study has important implications given the concerns raised by auditors regarding the usefulness of PCAOB inspections.","PeriodicalId":10595,"journal":{"name":"Contemporary Accounting Research","volume":"42 1","pages":"121-152"},"PeriodicalIF":3.2,"publicationDate":"2024-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1911-3846.13000","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143646304","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0