Journal of Corporate Accounting and Finance最新文献

Do CEO gender and narcissism jointly affect CEO letter readability? 首席执行官的性别和自恋会共同影响首席执行官信函的可读性吗？

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Journal of Corporate Accounting and Finance Pub Date : 2024-05-28 DOI: 10.1002/jcaf.22727

Julien Le Maux, Nadia Smaili

引用次数: 0

An accountant in the C-suite: Chief Accounting Officers and asymmetric timely loss recognition C-suite中的会计师：首席会计官与不对称的及时损失确认

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Journal of Corporate Accounting and Finance Pub Date : 2024-05-27 DOI: 10.1002/jcaf.22735

Robert Kim, Bryan Byung-Hee Lee, Jay Junghun Lee

引用次数: 0

Earnings quality of multinational corporations: Evidence from Latin America before and after IFRS implementation 跨国公司的盈利质量：国际财务报告准则》实施前后拉丁美洲的证据

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Journal of Corporate Accounting and Finance Pub Date : 2024-05-20 DOI: 10.1002/jcaf.22729

Mauricio Melgarejo

引用次数: 0

Do analysts play a monitoring role? Evidence from exogenous changes in litigation risk 分析师是否起到监督作用？诉讼风险外生变化的证据

IF 0.9

Journal of Corporate Accounting and Finance Pub Date : 2024-05-15 DOI: 10.1002/jcaf.22722

Junwoo Kim, Robert Kim, Sangwan Kim, Prianka Musa

{"title":"Do analysts play a monitoring role? Evidence from exogenous changes in litigation risk","authors":"Junwoo Kim, Robert Kim, Sangwan Kim, Prianka Musa","doi":"10.1002/jcaf.22722","DOIUrl":"10.1002/jcaf.22722","url":null,"abstract":"This paper examines whether securities litigation and sell-side equity analysts play a substitutive versus complementary role as an external governance mechanism. We expect the 1999 ruling on the stricter interpretation of the Private Securities Litigation Reform Act to make it easier for firms headquartered in the Ninth Circuit to defend against securities class actions filed by shareholders, resulting in weaker protection from a litigation channel and stronger demand for analyst activity. Using a difference-in-differences research design, we find that analyst coverage increases as litigation risk decreases in the Ninth Circuit firms. Moreover, we find that analyst earnings forecast accuracy increases for firms in the Ninth Circuit following the ruling, consistent with analysts exerting greater efforts to perform their monitoring role. In cross-sectional tests, we find that the substitution relation between litigation risk and analyst research is more pronounced in firms with a high level of ex-ante litigation risk. We conduct extensive robustness tests, including another legal event exogenously increasing the risk of litigation, to gain confidence in our interpretations. We contribute to the literature by documenting causal evidence that analysts have greater incentives to provide meaningful equity research as gatekeepers in times of weaker investor protection by securities litigation.","PeriodicalId":44561,"journal":{"name":"Journal of Corporate Accounting and Finance","volume":"35 4","pages":"221-237"},"PeriodicalIF":0.9,"publicationDate":"2024-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140974093","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

Embracing certainty in uncertain times: Macroeconomic uncertainty, third-party assurance, and CSR performance 在不确定时期拥抱确定性：宏观经济的不确定性、第三方保证和企业社会责任绩效

IF 0.9

Journal of Corporate Accounting and Finance Pub Date : 2024-05-11 DOI: 10.1002/jcaf.22726

Kang Ho Cho, John Jongsei Yi

引用次数: 0

Firm risk associated with environmental and corporate social disclosure: The moderating role of board gender diversity 与环境和企业社会信息披露相关的企业风险：董事会性别多样性的调节作用

IF 0.9

Journal of Corporate Accounting and Finance Pub Date : 2024-05-11 DOI: 10.1002/jcaf.22725

Furman Ali, Syed Sumair Shah

{"title":"Firm risk associated with environmental and corporate social disclosure: The moderating role of board gender diversity","authors":"Furman Ali, Syed Sumair Shah","doi":"10.1002/jcaf.22725","DOIUrl":"10.1002/jcaf.22725","url":null,"abstract":"This study examines the relationship among corporate social and environmental disclosures, firm risk, and board gender diversity. This paper offers fresh insights into the relationship between corporate social and environmental disclosures and gender diversity and firm risk., Using panel data of Chinese nonfinancial A-share-listed companies from 2008 to 2020, we discover that the correlation between gender diversity on the board and corporate social and environmental disclosures has a significant negative influence on firm risk. The findings also revealed that the impact of gender diversity and corporate social and environmental disclosures is more pronounced to mitigate firm risk in nonstate-owned enterprises than in state-owned enterprises. For robustness, we used the generalized method of moments to control for reverse causality and endogenous variables' existence; the findings are similar to the main results. The study contributes to the literature by offering a contingency approach to examine the relationship between corporate social and environmental disclosures and firm risk and sheds light on the relationship in the context of a developing economy.","PeriodicalId":44561,"journal":{"name":"Journal of Corporate Accounting and Finance","volume":"35 4","pages":"202-220"},"PeriodicalIF":0.9,"publicationDate":"2024-05-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140988991","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

Principles versus rules based standards: Differential impact on accounting quality and relevance 以原则为基础的准则与以规则为基础的准则：对会计质量和相关性的不同影响

IF 0.9

Journal of Corporate Accounting and Finance Pub Date : 2024-05-10 DOI: 10.1002/jcaf.22724

David Cabán

{"title":"Principles versus rules based standards: Differential impact on accounting quality and relevance","authors":"David Cabán","doi":"10.1002/jcaf.22724","DOIUrl":"10.1002/jcaf.22724","url":null,"abstract":"This research explores the transition from rules-based to principles-based accounting standards, particularly focusing on the implementation of ASC 606, and its impact on the quality and value relevance of financial reporting. The study draws on the debate between the detailed, prescriptive nature of rules-based standards versus the flexible, judgment-reliant principles-based standards. Through a comprehensive empirical analysis, it finds that the adoption of ASC 606 has led to a significant improvement in accounting quality, supporting the theory that principles-based standards, which emphasize reflecting the economic substance of transactions, result in more accurate and informative financial statements. Additionally, the paper reveals that this transition has varied effects across different industries, with the most pronounced improvements in sectors characterized by complex customer contracts and multiple performance obligations. The research further indicates an increase in the value relevance of financial reporting post-ASC 606 adoption, suggesting that financial statements now provide more relevant information for investors, thereby enhancing market efficiency. These findings contribute to the ongoing discourse on the optimal approach to financial reporting standards, highlighting the benefits of principles-based standards while also acknowledging the need for strong regulatory frameworks and professional judgment to mitigate the risks of earnings management and ensure high-quality financial reporting.","PeriodicalId":44561,"journal":{"name":"Journal of Corporate Accounting and Finance","volume":"35 4","pages":"174-191"},"PeriodicalIF":0.9,"publicationDate":"2024-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140990133","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

Cryptocurrency portfolio optimization: Utilizing a GARCH-copula model within the Markowitz framework 加密货币投资组合优化：在马科维茨框架内利用 GARCH-copula模型

IF 0.9

Journal of Corporate Accounting and Finance Pub Date : 2024-05-08 DOI: 10.1002/jcaf.22721

Vahidin Jeleskovic, Claudio Latini, Zahid I. Younas, Mamdouh A. S. Al-Faryan

{"title":"Cryptocurrency portfolio optimization: Utilizing a GARCH-copula model within the Markowitz framework","authors":"Vahidin Jeleskovic, Claudio Latini, Zahid I. Younas, Mamdouh A. S. Al-Faryan","doi":"10.1002/jcaf.22721","DOIUrl":"10.1002/jcaf.22721","url":null,"abstract":"The growing interest in cryptocurrencies has brought this new means of exchange to the attention of the financial world. This study aims to investigate the effects that a cryptocurrency can have when it is considered as a financial asset. The analysis is carried out from an ex-post perspective, evaluating the performance achieved in a certain period by three different portfolios. These are the one composed only of equities, bonds and commodities, the second one only of cryptocurrencies, and the third one is a combination of these both ones and thus made up of all considered “traditional” assets and the most performing cryptocurrency of the second portfolio. For these purposes, the classic variance-covariance approach is applied where the calculation of the risk structure is done via the GARCH-Copula and GARCH-Vine Copula approaches. The optimal weights of the assets in the optimized portfolios are determined through Markowitz optimization problem. The analysis mainly showed that the portfolio composed of cryptocurrency and traditional assets has a higher Sharpe index, from an ex-post perspective, and more stable performances, from an ex-ante perspective. We justify our selection of the Markowitz approach over conditional VaR and expected shortfall due to their heightened sensitivity to unsystematic extreme events in crypto markets.","PeriodicalId":44561,"journal":{"name":"Journal of Corporate Accounting and Finance","volume":"35 4","pages":"139-155"},"PeriodicalIF":0.9,"publicationDate":"2024-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/jcaf.22721","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141001610","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Lead independent director reputation incentives and audit fees 首席独立董事声誉奖励和审计费用

IF 0.9

Journal of Corporate Accounting and Finance Pub Date : 2024-05-08 DOI: 10.1002/jcaf.22723

David B. Bryan, Terry W. Mason

引用次数: 0

Nexus among disclosure quality, discretionary accruals and real earnings management practices: An empirical analysis of Malaysian public firms 信息披露质量、酌处权责发生制和实际收益管理实践之间的关联：对马来西亚上市公司的实证分析

IF 0.9

Journal of Corporate Accounting and Finance Pub Date : 2024-04-19 DOI: 10.1002/jcaf.22720

Muhammad Shaheer Nuhu, Zauwiyah Ahmad, Lim Ying Zhee

{"title":"Nexus among disclosure quality, discretionary accruals and real earnings management practices: An empirical analysis of Malaysian public firms","authors":"Muhammad Shaheer Nuhu, Zauwiyah Ahmad, Lim Ying Zhee","doi":"10.1002/jcaf.22720","DOIUrl":"10.1002/jcaf.22720","url":null,"abstract":"Following the financial crisis, business practice and regulatory have become much more interested in corporate disclosure on risk and risk management. The crises necessitate enhancing corporate governance (CG) processes, risk disclosure, reporting, and accounting. This paper aims to empirically analyze specific components of disclosure quality that could be associated with the likelihood of mitigating earnings management (EM) practices. The Bursa Malaysia website, Bloomberg, and the annual reports of the listed firms were utilized as the sources for the data. Descriptive statistics and GLS methods of panel regression were the analytical techniques used in the current investigation. Corporate data of the listed firms on Bursa Malaysia covering financial periods of 2011–2022 were used to examine the research hypotheses. The findings from the panel regression suggested that internal control system disclosure (ICSD) and intellectual capital disclosure (ICD) both have negative and significant associations to the likelihood of EM practices. However, the findings also established negative but insignificant relationships between corporate risk disclosure (CRD), corporate voluntary disclosure (CVD), and the likelihood of EM practices across the sample. This study has implications to companies striving to satisfy shareholders and attract potential investors. The authors add to the growing body of literature on quality disclosure to the larger body of CG literature. Additionally, the study is original as it is the first to consider four qualities (internal control system disclosure, corporate risk disclosure and corporate voluntary disclosure, and voluntary ICD in the Malaysian context of EM practices.","PeriodicalId":44561,"journal":{"name":"Journal of Corporate Accounting and Finance","volume":"35 4","pages":"121-138"},"PeriodicalIF":0.9,"publicationDate":"2024-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140683745","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