Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad最新文献_第5页

The nexus of debt financing and corporate innovation by exploring market competition’s moderating and enterprise maturity’s influential role: evidence from China 债务融资与企业创新的关系:市场竞争的调节作用和企业成熟度的影响:来自中国的证据

Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad Pub Date : 2021-12-18 DOI: 10.1080/02102412.2021.1999145

Umeair Shahzad, Afzal Ali, Lingge Zhao

{"title":"The nexus of debt financing and corporate innovation by exploring market competition’s moderating and enterprise maturity’s influential role: evidence from China","authors":"Umeair Shahzad, Afzal Ali, Lingge Zhao","doi":"10.1080/02102412.2021.1999145","DOIUrl":"https://doi.org/10.1080/02102412.2021.1999145","url":null,"abstract":"ABSTRACT The study investigates the association between debt financing and corporate innovation in Chinese listed firms from 2007–2017. It also examines the interplay of market competition and enterprise maturity in this nexus. Debt financing represents all transactional credits, and innovation is measured using R&D expenditures and patent counts. The fixed-effect negative binomial regression and a two-step system GMM are applied for empirical estimates. The findings validate that debt has an inverted U-Shaped impact on enterprise innovation. The break-even points representing the optimum debt undertaking are evaluated, higher in patent than R&D activities. The results validate that market competition moderates and enterprise maturity influences high-tech firms’ debt undertaking. High-tech firms uphold a lower break-even point in a competitive environment that represents restraining the takeover risk costs associated with creditors’ complex restrictions. The influence of enterprise maturity elevates the optimum debt ratio, exhibiting business history’s financial edge in innovative activities. Managers should refine debt policies by restoring the relationship with creditors so that high-tech firms can elevate the optimum usage of debt. In economies that focus on radical growth, effective monetary stimulation policies are crucial to achieving technology leadership, especially for mature firms and in a competitive environment.","PeriodicalId":244340,"journal":{"name":"Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122017804","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}

引用次数: 4

Long memory linkages amongst Latin American stock markets. A fractional cointegration approach 拉丁美洲股票市场之间的长期记忆联系。分数协整方法

Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad Pub Date : 2021-10-28 DOI: 10.1080/02102412.2021.1992867

José Carlos Vides

引用次数: 0

The transfer of accounting technologies within a religious order: the case of the Monastery of Silos (Spain) in the nineteenth century 在一个宗教秩序中会计技术的转移:19世纪的西洛斯修道院(西班牙)的案例

Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad Pub Date : 2021-10-06 DOI: 10.1080/02102412.2021.1894804

Lorenzo Maté Sadornil, María Begoña Prieto Moreno, A. Arroyo

{"title":"The transfer of accounting technologies within a religious order: the case of the Monastery of Silos (Spain) in the nineteenth century","authors":"Lorenzo Maté Sadornil, María Begoña Prieto Moreno, A. Arroyo","doi":"10.1080/02102412.2021.1894804","DOIUrl":"https://doi.org/10.1080/02102412.2021.1894804","url":null,"abstract":"ABSTRACT After a long period of abandonment due to the confiscation of its ecclesiastical properties in 1835, life at the Monastery of Silos recommenced in 1880, with the arrival of a group of Benedictine monks from France. This study focuses on the accounting system that the French monks brought with them to illustrate how accounting technology was transferred between two monasteries of the same religious order located in two different countries. The archives of the Monastery of Silos shed light on the differences between the accounting practices implemented at the end of the nineteenth century compared with those that had existed up until 1835. Our findings suggest that the French monks acted as agents for the transfer of technology by importing the accounting practices used at the Monastery of Ligugé (France) to the Monastery of Silos (Spain). The accounting approach used in Ligugé was notably less sophisticated than the one used for centuries at Silos. However, these new accounting practices fitted well with the needs of the Monastery of Silos at a time of scant economic resources, primarily focused on the reconstruction of the monastery’s buildings, activity which extended from the end of 1880 up until January 1883.","PeriodicalId":244340,"journal":{"name":"Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad","volume":"142 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115992992","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}

引用次数: 0

Audit Committee’s Cash Compensation and Earnings Management: The Moderating Effects of Institutional Factors 审计委员会现金薪酬与盈余管理:制度因素的调节作用

Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad Pub Date : 2021-10-06 DOI: 10.1080/02102412.2021.1977558

R. Alkebsee, Adeeb A. Alhebry, G. Tian, Alexandros Garefalakis

{"title":"Audit Committee’s Cash Compensation and Earnings Management: The Moderating Effects of Institutional Factors","authors":"R. Alkebsee, Adeeb A. Alhebry, G. Tian, Alexandros Garefalakis","doi":"10.1080/02102412.2021.1977558","DOIUrl":"https://doi.org/10.1080/02102412.2021.1977558","url":null,"abstract":"ABSTRACT This paper investigates the relationship between the audit committee’s cash compensation and accrual earnings management. Using a sample of Chinese listed firms over the period 2007 to 2017, findings show a positive association between cash compensation of the audit committee and accrual earnings management. It suggests that high cash compensation to audit committee directors compromises their monitoring role related to financial reporting quality, and high cash compensation to audit committee’s directors leads to an alignment in the audit committee’s interests with those of managers. We also examine the implications of ownership structure and institutional environment on this relationship. Results show that state-ownership significantly moderates the association between the audit committee’s cash compensation and accrual earnings management. We also investigate whether this relationship is influenced by the regional development level or not. Results reveal no difference in this positive association for firms located in more versus less developed regions. Our findings can be of broad interest to regulators in improving corporate governance.","PeriodicalId":244340,"journal":{"name":"Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123965050","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}

引用次数: 3

Analysis of the effectiveness of regulation on financial health of Spanish local governments 西班牙地方政府财政健康监管有效性分析

Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad Pub Date : 2021-09-06 DOI: 10.1080/02102412.2021.1956092

V. Pina, Patricia Bachiller, Lara Ripoll

{"title":"Analysis of the effectiveness of regulation on financial health of Spanish local governments","authors":"V. Pina, Patricia Bachiller, Lara Ripoll","doi":"10.1080/02102412.2021.1956092","DOIUrl":"https://doi.org/10.1080/02102412.2021.1956092","url":null,"abstract":"ABSTRACT The need to reduce public sector costs and debt has resulted in the implementation of requirements in many countries. Spain belongs to a group of countries which monitor the financial health of their local governments, using financial indicators enforced by law, and reporting this information periodically. The objective of this paper is to analyse whether the introduction of the 2012 Spanish legislation regarding fiscal stability and budgetary balance and Ministry of Finance Order 1781/2013, which develop new indicators, have led to improvements in the financial health of local governments. The results of our analysis show that the introduction of legal requirements is effective and that the disclosure of indicators for benchmarking purposes has been beneficial and positive, although this is not so in all cases. The practical implication of this study is that the dual demands of evaluating the financial situations of local governments and disclosing this information reinforce their responsibility with respect to the general interest. This enables the comparative evolution of indicators, concluding that requirements are also needed to ensure that the goals are achieved, thereby helping to restore the reliability and transparency of their activities.","PeriodicalId":244340,"journal":{"name":"Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127258483","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}

引用次数: 0

The impact of CEO’s attributes on R&D intensity and ESG practices CEO属性对研发强度和ESG实践的影响

Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad Pub Date : 2021-08-06 DOI: 10.1080/02102412.2021.1944459

Sahar E-Vahdati, F. Binesh

引用次数: 8

Managers’ presentation preferences for aggregation: the role of internal reporting outcome, purpose, and Machiavellianism 管理者对汇总的陈述偏好:内部报告结果、目的和马基雅维利主义的作用

Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad Pub Date : 2021-08-06 DOI: 10.1080/02102412.2021.1952517

Andson Braga de Aguiar, Ricardo Suave

{"title":"Managers’ presentation preferences for aggregation: the role of internal reporting outcome, purpose, and Machiavellianism","authors":"Andson Braga de Aguiar, Ricardo Suave","doi":"10.1080/02102412.2021.1952517","DOIUrl":"https://doi.org/10.1080/02102412.2021.1952517","url":null,"abstract":"ABSTRACT We focus on a flexible internal reporting setting and conduct an experiment to examine profit centre managers’ presentation preferences for aggregation when reporting performance-target deviations to superiors. Managers can use the internal reporting flexibility as an informational tactic to manage superiors’ perceptions of managers’ performance in ways that are consistent with mental accounting predictions. We examine if profit centre managers’ presentation preferences for aggregation depend on the internal reporting outcome and purpose as well as their level of Machiavellianism. Results show that profit centre managers’ presentation preferences for aggregation when reporting mixed outcomes are consistent with mental accounting predictions. We also find that profit centre managers’ use of impression management strategies is consistent with mental accounting predictions when the internal reporting purpose is for target revision and when high Machiavellians are reporting a mixed gain. Our results have implications for organisations in their decision to include stronger and more formalised control and governance mechanisms in order to inhibit profit centre managers’ use of internal report to influence superiors’ perceptions.","PeriodicalId":244340,"journal":{"name":"Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127505093","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}

引用次数: 3

Audit quality and fees: Evidence from Spain 审计质量和费用:来自西班牙的证据

Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad Pub Date : 2021-07-29 DOI: 10.1080/02102412.2021.1919959

Isidoro Guzmán-Raja, M. Gonzalez-Sanchez, Enrique Rúa-Alonso-De-Corrales, Juan-Francisco Sánchez-García

引用次数: 1

Enhancing transparency through the new Directive 2014/95/EU transposition – An institutional isomorphism perspective 通过新指令2014/95/EU转换提高透明度-从制度同构的角度来看

Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad Pub Date : 2021-07-18 DOI: 10.1080/02102412.2021.1937850

C. Ştefănescu

{"title":"Enhancing transparency through the new Directive 2014/95/EU transposition – An institutional isomorphism perspective","authors":"C. Ştefănescu","doi":"10.1080/02102412.2021.1937850","DOIUrl":"https://doi.org/10.1080/02102412.2021.1937850","url":null,"abstract":"ABSTRACT This study explores the non-financial perspective of reporting settled by the Directive 2014/95/EU. The analyses conducted assess transposition both quantitatively and qualitatively. This enriches the existing literature by shedding light on how institutional isomorphism (mimetic, coercive, and normative) influenced the adoption process across all EU Member States. The findings provide evidence of all forms of isomorphism, with significant influences from the mimetic and normative pressures. Thus, countries with a higher ability to embrace new rules based on resemblance with existing practice, and relying on greater openness towards change sustained by their professionalism in auditing and reporting, were more likely to transpose the new Directive. Moreover, the institutional isomorphism positively influenced comparability, consistency, accessibility and timeliness of non-financial disclosure. Finally, the study brings forth a mapping visualisation of the three patterns expressing how this legislative reform achieved its desired outcome – enhanced transparency.","PeriodicalId":244340,"journal":{"name":"Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad","volume":"110 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131230623","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}

引用次数: 3

Effects of the adoption of management control practices on profitability: evidence from Latin America 采用管理控制措施对盈利能力的影响:来自拉丁美洲的证据

Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad Pub Date : 2021-07-18 DOI: 10.1080/02102412.2021.1944514

M. Melgarejo, C. Rodríguez, José Torres

引用次数: 2