Review of Accounting and Finance最新文献

{"title":"The impact of feminism on bank performance: the case of Vietnam","authors":"Yen Nguyen, Cuong Thanh Dang, H. Trinh","doi":"10.1108/raf-10-2022-0292","DOIUrl":"https://doi.org/10.1108/raf-10-2022-0292","url":null,"abstract":"\u0000Purpose\u0000This study aims to evaluate the impact of board characteristics on bank performance at the commercial bank in Vietnam.\u0000\u0000\u0000Design/methodology/approach\u0000By running the pool OLS, fixed-effect and random-effect models with a panel data set of 294 observations from 2008 to 2021, the authors have examined determinants of bank performance.\u0000\u0000\u0000Findings\u0000The research results show that bank size, governance efficiency, capital adequacy ratio and economic growth have a positive effect while credit risk has a negative relationship with the commercial bank’s performance.\u0000\u0000\u0000Originality/value\u0000In particular, the result shows the relationship between chief executive officers’ (CEOs) gender and bank performance. Commercial banks led by female CEOs have lower bank performance than that led by male CEOs. However, this impact magnitude is not significant. The research results are the basis to propose recommendations to improve the Vietnamese commercial bank’s performance.\u0000","PeriodicalId":21152,"journal":{"name":"Review of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49054568","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Does the influence of competition and compensation on hospital quality vary with ownership type?","authors":"Linda H. Chen, Leslie Eldenburg, Theodore H. Goodman","doi":"10.1108/raf-06-2022-0166","DOIUrl":"https://doi.org/10.1108/raf-06-2022-0166","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The purpose of this study is to investigate how two types of drivers, namely, executive compensation and market competition, can affect hospital quality in the USA. Recently, patients, insurers and regulators have increasingly focused on hospital quality. Understanding the interplay of incentives in this industry is important because in 2019, hospital treatment contributed $1.161bn to health-care costs in the USA. This study answers the call for more studies in the so-called “mixed” industry, where ownership differences can affect organizational objectives and operating constraints.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>This study explores the roles of hospital executive compensation and industry competition as determinants of health-care quality. Specifically, the study probes the heterogeneity in the factors that influence quality across hospital types in the USA.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>Using California hospital data from 2006 through 2020, the findings show that the effects of compensation and competition on hospital quality differ by ownership type. Executive compensation is positively associated with quality in for-profit hospitals but is not associated with that of nonprofit hospitals, suggesting for-profit hospitals are more likely to use higher levels of compensation to attract managers with higher ability, whereas the utility function for nonprofit managers may be multidimensional. Within the nonprofit hospital group, competition is more positively associated with quality for religious nonprofits relative to secular nonprofits, suggesting that competition provides more monitoring for religious hospitals.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>Taken together, the findings provide evidence that the drivers of quality vary across hospitals in ways consistent with differences in constraints and objectives across ownership types. The findings are important for regulators seeking to incentivize higher quality. For example, Medicare in the USA has incorporated quality measures into its new hospital reimbursement scheme (value-based purchasing) to incentivize quality. This study proposes that regulators should consider differences across ownership types when evaluating the best ways to incentivize hospital quality.</p><!--/ Abstract__block -->","PeriodicalId":21152,"journal":{"name":"Review of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138515812","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Board attributes and corporate social responsibility disclosure quality based on information typology","authors":"D. Ramdhony, Mohamed Omran, K. Hussainey","doi":"10.1108/raf-01-2023-0009","DOIUrl":"https://doi.org/10.1108/raf-01-2023-0009","url":null,"abstract":"\u0000Purpose\u0000This paper aims to answer whether board attributes affect corporate social responsibility disclosure quality (CSRDQ) and whether these findings are sensitive to CSRDQ measurement.\u0000\u0000\u0000Design/methodology/approach\u0000The authors use the content analysis method to measure CSRDQ in annual report narratives of 41 Mauritian-listed companies for 2008–2019. System-generalized method of moments is used to test research hypotheses.\u0000\u0000\u0000Findings\u0000The analysis shows that board attributes affect CSRDQ. It also shows that the impact of CSRDQ is sensitive to CSRDQ measurement.\u0000\u0000\u0000Practical implications\u0000This study informs stakeholders on the drivers of CSRDQ. Mauritius authorities could revise the corporate governance code to enhance CSRDQ, and the Stock Exchange of Mauritius could also provide regulations/guidance to listed companies to improve their CSRDQ.\u0000\u0000\u0000Originality/value\u0000This study brings new insights by viewing CSRDQ based on verifiability, as verifiable CSR reporting improves the fairness of information disclosed by management.\u0000","PeriodicalId":21152,"journal":{"name":"Review of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47713801","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Audit(or) type and audit quality in emerging markets: evidence from explicit vs. implicit restatements","authors":"Mohamed M. Eldyasty, Ahmed A. Elamer","doi":"10.1108/raf-02-2023-0046","DOIUrl":"https://doi.org/10.1108/raf-02-2023-0046","url":null,"abstract":"\u0000Purpose\u0000This paper aims to examine the link between audit(or) type and restatements in Egypt, a complex and multifaceted auditing market. The usual big 4 versus non-big 4 comparison is insufficient as Egypt has a unique mix of private audit firms, one governmental agency (Accountability State Authority) and mandatory/nonmandatory audit services, including single, joint and dual audits.\u0000\u0000\u0000Design/methodology/approach\u0000The study uses a sample of listed companies in Egypt and analyzes the impact of auditor type and audit type on explicit, implicit and total restatements. The study uses logistic regression model to examine the underlying relationship.\u0000\u0000\u0000Findings\u0000Results show no relationship between auditor type and audit quality, positive association between non-big foreign CPA firms and total/implicit restatements and mixed results for the impact of dual audits on audit quality. The study found no link between auditor type and audit quality in Egypt. Egyptian audit firms linked to non-big 4 foreign Certified Public Accounting firms were positively linked to total and implicit restatements. Joint audits did not improve audit quality and were directly related to total and explicit restatements. Dual audits showed mixed results, positively associated with implicit restatements but inversely associated with explicit restatements.\u0000\u0000\u0000Originality/value\u0000The study provides valuable insights into the complexities of the auditing market in emerging markets and offers valuable insights for stakeholders in the financial statement users, audit firms and governmental agencies.\u0000","PeriodicalId":21152,"journal":{"name":"Review of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42879030","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The influence of corona pandemic on stock returns of companies listed on the Palestine Stock Exchange","authors":"N. Badwan, A. Awad","doi":"10.1108/raf-12-2022-0359","DOIUrl":"https://doi.org/10.1108/raf-12-2022-0359","url":null,"abstract":"\u0000Purpose\u0000This study aims to explore and verify the influence of the corona pandemic on the stock returns of the Palestinian companies listed on the Palestine Exchange during the period 2020–2021.\u0000\u0000\u0000Design/methodology/approach\u0000The research makes use of secondary financial data from 52 companies in the industrial, investment, services, banking and insurance sectors. Many financial ratios are calculated to assess stock returns: current ratio, cash ratio and average collection time as liquidity measures; debt-to-equity ratio as an indication of leverage or solvency; and net profit margin as an indicator of profitability. The research examines ratios between the (2020 and 2021) precorona outbreak using the Wilcoxon signed rank test and financial ratio analysis during the corona pandemic.\u0000\u0000\u0000Findings\u0000The findings show that liquidity in the investment, banking, insurance and industrial sectors has decreased significantly, whereas liquidity in the service sector has improved. The statistics reveal a considerable growth in debt in the service sector, while it stays unchanged in the other sectors. However, there is no discernible change in profitability during and after the corona outbreak.\u0000\u0000\u0000Research limitations/implications\u0000The present research faced many limitations, such as the approach to gathering primary data, which depended heavily on disclosures, financial reports and secondary data, as well as only analyzing one context and one country.\u0000\u0000\u0000Practical implications\u0000The findings of this study can guide the Palestinian government and decision-makers to respond to the COVID-19 outbreak and must act quickly because strong short-term policies are more functional than long-term policy measures. In addition, the temporal discrepancy between their policy actions and financial regulations regarding the stage of the outbreak, integrating monetary treatment methods, strengthening their control over exchange rate fluctuations and extending the duration of financial participation measures that ensure stable exchange rates, such as attempting to restrict trade of the monetary system between countries was assessed to reduce the important monetary stimulation policy.\u0000\u0000\u0000Originality/value\u0000This study presents important facts and results for regulators and decision-makers regarding the investment, industry, banking, insurance and services sectors as sectors that are most affected by the corona pandemic as a sample for this study from the Palestinian companies listed in Palestine Stock Exchange due to the corona pandemic.\u0000","PeriodicalId":21152,"journal":{"name":"Review of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46035172","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Investor’s values and investment decision towards ESG stocks","authors":"R. Raut, N. Shastri, A. Mishra, A. Tiwari","doi":"10.1108/raf-12-2022-0353","DOIUrl":"https://doi.org/10.1108/raf-12-2022-0353","url":null,"abstract":"\u0000Purpose\u0000This study aims to investigate factors that influence the attitudes and intentions of investors towards environmental, social and governance (ESG) stocks in the presence of perceived risk as a moderator.\u0000\u0000\u0000Design/methodology/approach\u0000Data was collected through an online survey method from 341 investors with more than three years of investing experience. Smart PLS was used to analyse the data using two-stage structural equation modelling. First, a measurement model was performed for construct reliability and validity, followed by path analysis (structural model) for hypothesis testing and overall model predictability.\u0000\u0000\u0000Findings\u0000The findings show that both environmental concern (altruistic value) and economic concern (egoistic value) are crucial for the attitude and intention of investors to invest in ESG-backed stocks; however, environmental concern was found to be a more significant predictor of their behaviour, showing evidence of pro-environmental values in the decision-making of utility-seeking individuals. No significant impact of perceived risk was evident as a moderator of the relationship between attitude and intention towards ESG stocks.\u0000\u0000\u0000Practical implications\u0000The study's findings have implications for fund managers, policymakers, and the government. Values as antecedents were found to be influential in shaping investors’ attitudes and intentions towards the environmental cause. Fund managers could include more ESG-compliant companies in their portfolios, and the government can play an important role in encouraging investors by providing financial incentives. Corporates should also take strategic steps to adopt green production processes to secure long-term, sustainable capital funding.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, there has been no research done in the field of ESG investing that takes into account the values (both altruistic and egoistic) of investors as potential antecedents of their attitudes and intentions.\u0000","PeriodicalId":21152,"journal":{"name":"Review of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49238620","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Bank diversification and earnings management: the moderating effect of female directors","authors":"Nozha Merzki, Mouna Ben Rejeb","doi":"10.1108/raf-08-2022-0223","DOIUrl":"https://doi.org/10.1108/raf-08-2022-0223","url":null,"abstract":"\u0000Purpose\u0000This paper aims to investigate the effect of banking activities diversification on earnings management practices and the effect of female directors on this relationship.\u0000\u0000\u0000Design/methodology/approach\u0000Based on a sample of 122 banks operating in Middle East and North African countries from 2006 to 2018, we use dynamic panel model estimated with generalized method of moments approach to deal with endogeneity issues surrounding the diversification decision.\u0000\u0000\u0000Findings\u0000The results show that diversification increases earnings management and that the presence of female directors on board moderates this relationship. In particular, female managers tend to reduce earnings management practices in diversified banks. Further, diversified conventional banks appear to be more impacted on the earnings management practices than on Islamic banks.\u0000\u0000\u0000Originality/value\u0000The study extends previous research by investigating the relationship between earnings management and diversification of banking activities in emerging countries where earnings management cannot be easily detected and diversification strategy is widely used. It, also, explains this relationship via the moderating effect of female directors as a banks’ internal governance mechanism.\u0000","PeriodicalId":21152,"journal":{"name":"Review of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47780845","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Accounting comparability and financial distress","authors":"Mohammad N. Islam, Shihong Li, Clark M. Wheatley","doi":"10.1108/raf-07-2022-0207","DOIUrl":"https://doi.org/10.1108/raf-07-2022-0207","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to present the evidence of the association between financial statement comparability and corporate financial distress.\u0000\u0000\u0000Design/methodology/approach\u0000This is an empirical study, and this study uses multiple regression analysis to evaluate hypothesis.\u0000\u0000\u0000Findings\u0000The authors find a significant decrease in the probability of financial distress as accounting comparability increases. Findings of this study suggest that distressed firms tend to produce financial statements that compare poorly to those of peer firms; the effectiveness of predicting financial distress with accounting ratios may be conditional on comparability with peers; and financial statement comparability may be predictive of financial distress.\u0000\u0000\u0000Research limitations/implications\u0000First, this study only used publicly available financial data, which may not be representative of all countries and could differ because of differences in accounting practices. Second, although this study found a connection between accounting comparability and financial distress, it cannot prove a causal relationship, as other factors that were not controlled for may also have an impact. Third, this study used various measures of financial distress, but other measures could lead to different results. Finally, this study did not include all relevant variables, such as industry-specific factors and macroeconomic conditions, which could influence the relationship between accounting comparability and financial distress.\u0000\u0000\u0000Practical implications\u0000For investors and financial analysts, the results imply that accounting comparability can serve as a useful signal for identifying companies that are more likely to remain financially stable in the long run. Thus, they may prefer to invest in or recommend highly comparable firms over their less comparable counterparts. For auditors, this study underscores the importance of promoting and enforcing accounting standards that improve comparability, as this can help mitigate the risk of financial distress among their clients. Regulators may also consider the implications of the study’s findings when designing policies and guidelines related to financial reporting and disclosure.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this is the first study investigating the association between financial statement comparability and corporate financial distress of the US firms. This study uses large, comprehensive and multi-year data. Furthermore, this is the only study that presents the evidence of negative association between comparability and firm financial distress.\u0000","PeriodicalId":21152,"journal":{"name":"Review of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44366234","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Busy audit committee directors and corporate narrative disclosure in Oman","authors":"Hidaya Al Lawati, K. Hussainey, R. Sagitova","doi":"10.1108/raf-11-2022-0326","DOIUrl":"https://doi.org/10.1108/raf-11-2022-0326","url":null,"abstract":"\u0000Purpose\u0000This study aims to examine whether, and which type of, busy audit committee (AC) directors affect the quality and quantity of forward-looking disclosure (FLD).\u0000\u0000\u0000Design/methodology/approach\u0000The authors use content analysis to measure the quality and quantity of FLD. The authors use a sample of Omani financial institutions listed on the Muscat Securities Market for the period 2014–2018.\u0000\u0000\u0000Findings\u0000The authors find that overlapped AC chairs and total overlapped AC directors negatively (positively) affect disclosure quantity (quality). The authors also find that overlapped AC directors with financial expertise and those with multiple directorships positively affect disclosure quantity and quality.\u0000\u0000\u0000Originality/value\u0000This study offers new insights to policymakers (and managers) as it informs them about the benefits of overlapping AC directorship. It suggests that corporate governance codes should not limit overlapped AC direcotorship.\u0000","PeriodicalId":21152,"journal":{"name":"Review of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46781259","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Over-investment and ESG inequality","authors":"C. Kuzey, Ali Uyar, Abdullah S. Karaman","doi":"10.1108/raf-10-2022-0279","DOIUrl":"https://doi.org/10.1108/raf-10-2022-0279","url":null,"abstract":"\u0000Purpose\u0000This study aims to test whether over-investment is associated with environmental, social and governance (ESG) variation (i.e. inequality) across its dimensions, which, if so, would imply the prioritization of the interests of some stakeholders over those of others.\u0000\u0000\u0000Design/methodology/approach\u0000Drawing on a global sample of 29,428 observations across nine sectors and 41 countries between 2003 and 2019, the authors executed a country-industry-year fixed-effects regression analysis. In the robustness tests, this study also used the entropy balancing and propensity score matching approaches.\u0000\u0000\u0000Findings\u0000The authors found that while firm over-investment increases social pillar inequality, it reduces environmental pillar inequality. Further analysis revealed that the over-investment strategy decreases (increases) ESG inequality in low (high) environmental and social performers. This outcome could be of relevance to internal governance mechanisms and policymaking as ESG inequality might raise legitimacy concerns and hamper the long-term sustainability of firms.\u0000\u0000\u0000Practical implications\u0000The outcome of the study could be of relevance to internal governance mechanisms as well as policymaking. Considering financial constraints, firms should maintain a balanced strategy between firm investment and addressing stakeholder interests. Otherwise, over-investment might reduce environmental and social engagement in some dimensions, which could prompt criticisms and legitimacy concerns about firms and some stakeholders.\u0000\u0000\u0000Originality/value\u0000Past research has intensively focused on whether ESG – rather than ESG inequality – is associated with investment (in)efficiency. In addition, it has mostly formulated the causality running from ESG to firm investment, and hence, the literature lacks heterogeneity in this respect. Nevertheless, the authors believe that the potential effect of firm investment on ESG is of critical importance and has implications for determining whether over-investment causes variations across ESG engagement. Thus, the authors addressed this gap in the literature by investigating the relationship between over-investment and ESG inequality.\u0000","PeriodicalId":21152,"journal":{"name":"Review of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":2.4,"publicationDate":"2023-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48823037","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}