Journal of Corporate Accounting and Finance最新文献_第2页

The market reaction of S&P 500 firms to the SEC's mandatory climate disclosure proposal 标准普尔 500 强企业对美国证券交易委员会强制披露气候信息提案的市场反应

IF 0.9

Journal of Corporate Accounting and Finance Pub Date : 2024-04-18 DOI: 10.1002/jcaf.22719

Martin M. Kim

引用次数: 0

Do ECB's rate hikes have spillover effects on the Hungarian BUBOR and the EUR/HUF exchange rate? A five-variable VAR model approach using the Diebold-Yilmaz spillover table 欧洲央行加息对匈牙利银行间同业拆借利率和欧元/匈牙利福林汇率有溢出效应吗？使用 Diebold-Yilmaz 溢出表的五变量 VAR 模型方法

IF 0.9

Journal of Corporate Accounting and Finance Pub Date : 2024-04-18 DOI: 10.1002/jcaf.22716

Molnar Albert, Csiszárik-Kocsír Ágnes

{"title":"Do ECB's rate hikes have spillover effects on the Hungarian BUBOR and the EUR/HUF exchange rate? A five-variable VAR model approach using the Diebold-Yilmaz spillover table","authors":"Molnar Albert, Csiszárik-Kocsír Ágnes","doi":"10.1002/jcaf.22716","DOIUrl":"10.1002/jcaf.22716","url":null,"abstract":"We intend to show the directional volatility spillovers between the European short term interbank lending rates (3-month Euro Interbank Offered Rate [EURIBOR] and Euro Short-Term Rate [ESTR]) and the Hungarian Budapest Interbank Offered Rate (BUBOR) and Euro-Hungarian Forint exchange rate. To determine the extent to which the variables affect each other's volatilities we build a five-variable vector autoregression (VAR) and determine the spillover table like in Diebold-Yilmaz's 2012 work. This methodology is preferred to a simple impulse response function (IRF) because we manage to avoid the problem of non-orthogonal innovations via the generalized forecast error variance decomposition framework. The issue of variable ordering, therefore, does not arise. We focus on three episodes of increased volatility in Hungarian and European short-term interest rates: Q3–Q4 of 2019, Q1 of 2020 and Q3 of 2022. These episodes correspond to volatility spikes in EU markets that to some extent had a measurable spillover effect on Hungarian interbank rates. We find that on average, across the entire sample of 957 observations, about 6.3% of the volatility forecast error variance in all five European and Hungarian variables comes from spillovers. The total and directional spillovers over the sample are extremely low. We conclude that the European Central Bank's surprise policy decisions have a marginal impact on Hungarian interbank rates. We also find that BUBOR is primarily a net receiver of spillovers from the MAX short-term government bond benchmark rather than the EURIBOR—this disproved our initial considerations.","PeriodicalId":44561,"journal":{"name":"Journal of Corporate Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2024-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/jcaf.22716","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140689666","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

Quality of financial reporting in the Indian insurance industry: Does corporate governance matter? 印度保险业的财务报告质量：公司治理重要吗？

IF 0.9

Journal of Corporate Accounting and Finance Pub Date : 2024-04-18 DOI: 10.1002/jcaf.22717

Barkha Goyal, Rachita Gulati

{"title":"Quality of financial reporting in the Indian insurance industry: Does corporate governance matter?","authors":"Barkha Goyal, Rachita Gulati","doi":"10.1002/jcaf.22717","DOIUrl":"10.1002/jcaf.22717","url":null,"abstract":"This study explores the relationship between financial reporting quality and insurer governance, with the hypothesis that robust governance procedures exert better control over managers’ opportunistic behavior. The analysis is based on a dataset of insurer firms from 2014 to 2021. The econometric results obtained using the two-step system GMM technique reveal that the overarching influence of corporate governance on enhancing financial reporting quality is evident, with board and risk governance matters the most. Among individual governance attributes, the optimal board size, a higher proportion of independent directors, audit and risk committees’ size, and risk committee independence play a significant role in governing discretionary accruals. The efficacy of governance mechanisms considerably differs across life and non-life insurers, shedding light on the nuanced dynamics within the Indian insurance market. The results lend empirical support to resource dependency and agency theories within the Indian insurance sector. The implications suggest potential avenues for amending or redesigning governance norms with specificities of insurers and the ultimate goal of fostering an environment conducive to enhancing the reporting quality of Indian insurance firms.","PeriodicalId":44561,"journal":{"name":"Journal of Corporate Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2024-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140689754","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

Does social capital matter to stock price crash risk? Evidence from the US listed firms 社会资本对股价暴跌风险有影响吗？来自美国上市公司的证据

IF 0.9

Journal of Corporate Accounting and Finance Pub Date : 2024-04-18 DOI: 10.1002/jcaf.22718

Liang Sun, Huaibing Yu

引用次数: 0

Does corporate governance affect investment efficiency of Indian firms? Panel evidence from new governance indices 公司治理是否影响印度公司的投资效率？来自新治理指数的面板证据

IF 0.9

Journal of Corporate Accounting and Finance Pub Date : 2024-04-09 DOI: 10.1002/jcaf.22714

Akash Singh Yadav, Inder Sekhar Yadav

{"title":"Does corporate governance affect investment efficiency of Indian firms? Panel evidence from new governance indices","authors":"Akash Singh Yadav, Inder Sekhar Yadav","doi":"10.1002/jcaf.22714","DOIUrl":"10.1002/jcaf.22714","url":null,"abstract":"This study examines the effects of corporate governance (CG) on investment inefficiency for 506 Indian listed firms. Using new stipulations of CG and globally recognized governance practices, an overall corporate governance index (CGI) and five sub-indices such as board index (BINDEX), audit index (AINDEX), ownership index (OINDEX), nomination and remuneration index (NRINDEX), and disclosure index (DINDEX) were constructed. Employing newly developed governance indices along with firm-specific control variables, several pooled regression models were estimated. Robustness checks were conducted using two-step system GMM and an alternate measure of managerial investment efficiency. The pooled estimated coefficient of CGI and sub-indices (except OINDEX) on investment inefficiency, overinvestment and underinvest is found to be negative and significant suggesting that effective/robust governance at firm level reduces investment inefficiencies (improves investment efficiency) through effective supervision and monitoring thereby reducing the opportunistic behavior of managers.","PeriodicalId":44561,"journal":{"name":"Journal of Corporate Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2024-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/jcaf.22714","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140723690","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

Toward a notation for modeling value driver trees: Classification development and research agenda 价值驱动树建模符号：分类发展与研究议程

IF 0.9

Journal of Corporate Accounting and Finance Pub Date : 2024-04-04 DOI: 10.1002/jcaf.22715

Benjamin Matthies

{"title":"Toward a notation for modeling value driver trees: Classification development and research agenda","authors":"Benjamin Matthies","doi":"10.1002/jcaf.22715","DOIUrl":"10.1002/jcaf.22715","url":null,"abstract":"Value driver trees (VDTs) are abstract, indicator-based representations of a business model. Although they are conceptual models by nature, no systematic and unified approaches to their modeling exist to date. In fact, a heterogeneous understanding of their conception and methodological implementation has been established. The goal of this study is to provide more clarity in this regard by examining the semantics (the question of “what?”) and syntax (the question of “how?”) with respect to VDT modeling. For this purpose, a structured literature review was conducted in which a collection of 161 VDTs was evaluated. Based on an extended taxonomy design process, the typical model constructs of VDTs were extracted. As a result, a so-called VDT Model Classification was derived, which structures 34 model constructs into three dimensions with eight categories. This classification establishes a clearer understanding of the model constructs and their representation, thereby providing a conceptual framework for a unified and more substantiated “vocabulary” for VDT modeling. Finally, a research agenda has been formulated that generally addresses the role and future application potential of VDTs and, in particular, describes the next steps toward a sound notation for modeling VDTs.","PeriodicalId":44561,"journal":{"name":"Journal of Corporate Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2024-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/jcaf.22715","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140741723","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

Retraction: International expansion and audit opinion shopping: A signaling perspective 撤回：国际扩张与审计意见购物：信号传递视角

IF 1.4

Journal of Corporate Accounting and Finance Pub Date : 2024-03-31 DOI: 10.1002/jcaf.22713

引用次数: 0

Costs and benefits of the LIFO-FIFO choice 后进先出-后进先出选择的成本和收益

IF 0.9

Journal of Corporate Accounting and Finance Pub Date : 2024-03-21 DOI: 10.1002/jcaf.22712

Qianhua Ling, Daniel P. Tinkelman

引用次数: 0

Does Fintech merger and acquisition change a firm's financial statement? 金融科技并购是否会改变公司的财务报表？

IF 0.9

Journal of Corporate Accounting and Finance Pub Date : 2024-03-18 DOI: 10.1002/jcaf.22710

Yongdong Wang

引用次数: 0

Mechanisms of revenue manipulation under ASC 606 ASC 606 规定的收入操纵机制

IF 0.9

Journal of Corporate Accounting and Finance Pub Date : 2024-03-13 DOI: 10.1002/jcaf.22711

Benjamin Hubbard

引用次数: 0