Journal of Corporate Accounting and Finance最新文献_第4页

When Technology Meets Turbulence: The Impact of Digital Transformation and Policy Uncertainty on Audit Opinions 当技术遇到动荡：数字化转型和政策不确定性对审计意见的影响

IF 1.2

Journal of Corporate Accounting and Finance Pub Date : 2026-04-05 Epub Date: 2025-10-04 DOI: 10.1002/jcaf.70011

He Min, Sultan Sikandar Mirza, Chengming Huang

{"title":"When Technology Meets Turbulence: The Impact of Digital Transformation and Policy Uncertainty on Audit Opinions","authors":"He Min, Sultan Sikandar Mirza, Chengming Huang","doi":"10.1002/jcaf.70011","DOIUrl":"10.1002/jcaf.70011","url":null,"abstract":"<p>This study investigates how Corporate Digital Transformation (CDT) influences audit opinions in Chinese A-share-listed non-financial firms from 2011 to 2022, with a focus on the moderating role of Economic Policy Uncertainty (EPU). Results reveal an inverted U-shaped relationship: moderate levels of CDT enhance audit outcomes through improved transparency, while excessive digitalization creates governance complexities that increase the likelihood of qualified audit opinions. EPU exacerbates these risks, directly and with fiscal policy uncertainty exerting the strongest moderating effect. Spillover analysis further indicates that Japanese EPU significantly amplifies the CDT–audit nexus, reflecting China's trade interdependence with major partners. Heterogeneity analysis shows that the negative effects of CDT are more pronounced in large firms, state-owned enterprises, highly leveraged and low-risk firms, and those with weak internal controls. Regional and sectoral disparities are also evident, particularly among labor- and capital-intensive firms, those listed on the Shenzhen Stock Exchange, and firms in China's central regions. Among technological components, artificial intelligence (AI) exerts the greatest influence, underscoring both its potential and governance risks. Robustness checks across alternative EPU measures and econometric models confirm these findings. The study highlights the need for context-specific digital transformation strategies and regulatory frameworks that balance innovation with audit reliability.</p>","PeriodicalId":44561,"journal":{"name":"Journal of Corporate Accounting and Finance","volume":"37 2","pages":"24-58"},"PeriodicalIF":1.2,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/jcaf.70011","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147686854","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

Deep Information Retrieval Using Neural Language Models for Accounting Research: An Illustration Using Press News 利用神经语言模型进行会计研究的深度信息检索：以新闻为例

IF 1.2

Journal of Corporate Accounting and Finance Pub Date : 2026-04-05 Epub Date: 2025-12-12 DOI: 10.1002/jcaf.70019

Yuxin Shan, Shuanglu Dai, Hanyi Zhang, Hong Man

{"title":"Deep Information Retrieval Using Neural Language Models for Accounting Research: An Illustration Using Press News","authors":"Yuxin Shan, Shuanglu Dai, Hanyi Zhang, Hong Man","doi":"10.1002/jcaf.70019","DOIUrl":"10.1002/jcaf.70019","url":null,"abstract":"<p>In recent years, machine learning (ML) models have been increasingly used to collect and analyze information from diverse sources, such as earning calls, news press releases, and social media. This has empowered accounting researchers to generate valuable insights in support of financial accounting, auditing, and corporate governance research. Compared to intensive manual reviews, ML models can automatically process millions of documents in days and generate statistical analyses. To incorporate text nuances into consideration, this paper demonstrates the application of large language models (LLMs) or fine-tuning a language model in extracting accounting-related information, using public web news announcements as an example of potential information sources. The proposed method is then evaluated using the latest well-known LLM services including ChatGPT, Llama and Sonnet, as well as the traditional probabilistic model. Additionally, this study discusses the advantages and disadvantages of different LLM models from the perspective of mismatches. As the standard ML benchmarking approach—human ground truth labeling through millions of pages—is time-consuming and expensive, it limits researchers' ability to acquire relevant information. Therefore, we compare mismatches in this study as an effective alternative approach to evaluate LLMs performances. This study contributes to the accounting literature by comparing the pros and cons of different LLMs in the context of extracting relevant information for accounting research. Moreover, it highlights the advantages of LLMs in understanding text nuances compared to traditional methods that rely on keywords and word frequency, helping accounting researchers select the appropriate language models for their work.</p>","PeriodicalId":44561,"journal":{"name":"Journal of Corporate Accounting and Finance","volume":"37 2","pages":"162-183"},"PeriodicalIF":1.2,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147686090","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 Role of Resource Reallocation in Predicting Macroeconomic Indicators 资源再配置在宏观经济指标预测中的作用

IF 1.2

Journal of Corporate Accounting and Finance Pub Date : 2025-11-22 DOI: 10.1002/jcaf.70017

Russell Barber, Jenna J. Burke, Katherine Gunny

引用次数: 0

The Role of Total Assets in Financial Performance: Evaluating Econometrics and Machine Learning Approaches 总资产在财务绩效中的作用：评估计量经济学和机器学习方法

IF 1.2

Journal of Corporate Accounting and Finance Pub Date : 2025-09-26 DOI: 10.1002/jcaf.70010

Nargis Sultana, Fahad Zeya, K. M. Zahidul Islam, Antonio J. Rodriguez

{"title":"The Role of Total Assets in Financial Performance: Evaluating Econometrics and Machine Learning Approaches","authors":"Nargis Sultana, Fahad Zeya, K. M. Zahidul Islam, Antonio J. Rodriguez","doi":"10.1002/jcaf.70010","DOIUrl":"https://doi.org/10.1002/jcaf.70010","url":null,"abstract":"<div>\u0000 \u0000 <p>This study examines the financial performance of North American firms, accentuating the significant role of total assets in determining profitability, measured through EBITDA. By incorporating traditional econometric models—Fixed Effects and Random Effects—with machine learning techniques, exclusively Support Vector Machines (SVM), the research assesses both explanatory and predictive capabilities. The findings reveal that total assets significantly influence EBITDA, with the Fixed Effects model offering robust explanatory power (adjusted <i>R</i><sup>2</sup> = 77.86%) and SVM exhibiting superior predictive accuracy (89.4%). Additionally, the nuanced effects of financial ratios, such as liquidity and leverage, emphasize their indirect contributions to financial performance. These results offer actionable insights for stakeholders to optimize asset utilization and financial strategies. This study's implications extend to advancing predictive methodologies in financial analysis, providing a scalable framework for analyzing profitability across diverse firms and contexts. This research specifies constructive insights for stakeholders, investors, and policymakers, enhancing their understanding of the financial dynamics of North American firms.</p>\u0000 </div>","PeriodicalId":44561,"journal":{"name":"Journal of Corporate Accounting and Finance","volume":"37 1","pages":"204-215"},"PeriodicalIF":1.2,"publicationDate":"2025-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145970176","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 Effects of SFAS 141 and 142 Deliberation and Adoption on Loan Spreads SFAS 141和142的审议和通过对贷款利差的影响

IF 1.2

Journal of Corporate Accounting and Finance Pub Date : 2025-09-15 DOI: 10.1002/jcaf.70008

Jennifer Wenhe Chen

引用次数: 0

Mitigating Auditor Bias Through Elaboration 通过阐述减轻审计师的偏见

IF 1.2

Journal of Corporate Accounting and Finance Pub Date : 2025-09-15 DOI: 10.1002/jcaf.70009

Byron J. Pike, Mary B. Curtis, Lawrence Chui

{"title":"Mitigating Auditor Bias Through Elaboration","authors":"Byron J. Pike, Mary B. Curtis, Lawrence Chui","doi":"10.1002/jcaf.70009","DOIUrl":"https://doi.org/10.1002/jcaf.70009","url":null,"abstract":"<div>\u0000 \u0000 <p>Numerical anchoring and conformity to a known view are two prominent biases exhibited by auditors. While both influence auditors’ judgments and reduce decision quality, research has not explored a common source: their creation by a superior to whom one is accountable. It is unclear how these biases interact and how they can be mitigated. We use three experiments to examine how accountability and experience influence numerical anchoring in auditors’ risk assessments with a known perspective. We also test an intervention to reduce auditors’ anchoring and conformity. In Experiment 1, we investigate the impact of a manager-provided anchor on experienced and inexperienced auditors, finding both are susceptible to conforming to the manager's numerical perspective. However, inexperienced auditors are more vulnerable to this bias. In Experiment 2, we increase thoughtfulness in inexperienced auditors by having them perform a risk factor evaluation before their client-specific risk assessments. Such intervention helped inexperienced auditors generate risk assessments that were more consistent with those of experienced auditors under accountability. In our final experiment, we demonstrate that primed thoughtfulness and reduced accountability helped inexperienced auditors reach judgments consistent with experienced auditors in a control group with no known views.</p>\u0000 </div>","PeriodicalId":44561,"journal":{"name":"Journal of Corporate Accounting and Finance","volume":"37 1","pages":"171-183"},"PeriodicalIF":1.2,"publicationDate":"2025-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145994033","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

Intraday Trading Volume Patterns of Market Index ETFs 市场指数etf的盘中交易量模式

IF 1.2

Journal of Corporate Accounting and Finance Pub Date : 2025-07-15 DOI: 10.1002/jcaf.70005

Emiliano Giudici, Axel Grossmann

引用次数: 0

Financial Valuation and Systematic Risk in Technology and Traditional Firms 科技企业与传统企业的财务评估与系统风险

IF 1.2

Journal of Corporate Accounting and Finance Pub Date : 2025-07-09 DOI: 10.1002/jcaf.70001

Luz Natalia Tobón Perilla

{"title":"Financial Valuation and Systematic Risk in Technology and Traditional Firms","authors":"Luz Natalia Tobón Perilla","doi":"10.1002/jcaf.70001","DOIUrl":"https://doi.org/10.1002/jcaf.70001","url":null,"abstract":"<div>\u0000 \u0000 <p>As digitalization reshapes corporate structures and capital markets, traditional methods of assessing firm valuation and market risk are increasingly insufficient, especially for technology-intensive companies. This study investigates whether the financial characteristics that define technology firms, such as high Price to Earnings Ratios (PER) and market volatility, are rooted in sectoral identity or in fundamental financial indicators. Using a cross-sectional dataset of publicly traded firms from multiple sectors, we conduct both comparative descriptive statistics and two multiple linear regression models to explain PER and 5 year beta (Beta5). The results reveal company-specific indicators, such as return on equity, price momentum, pre-tax earnings, and the composition of intangible assets, are the main drivers of both valuation and systematic risk. Sector classification itself does not exert a statistically significant influence once these variables are controlled for. Moreover, technology firms exhibit elevated PER and market capitalization due to superior growth and profitability, not speculative excess. Conversely, firms from traditional sectors display higher operational efficiency, as indicated by stronger EBITDA margins. These findings challenge the notion that digital firms are systematically overvalued and highlight the need for integrated valuation risk frameworks that account for intangible-driven value in the modern economy.</p>\u0000 </div>","PeriodicalId":44561,"journal":{"name":"Journal of Corporate Accounting and Finance","volume":"37 1","pages":"144-153"},"PeriodicalIF":1.2,"publicationDate":"2025-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145969810","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

Levers of Control: Impact on Innovation 控制杠杆：对创新的影响

IF 1.2

Journal of Corporate Accounting and Finance Pub Date : 2025-07-05 DOI: 10.1002/jcaf.70000

Peter Letmathe, Christian Meyer

{"title":"Levers of Control: Impact on Innovation","authors":"Peter Letmathe, Christian Meyer","doi":"10.1002/jcaf.70000","DOIUrl":"https://doi.org/10.1002/jcaf.70000","url":null,"abstract":"<p>Using structural equation modeling, our study provides evidence for the effects of management control systems on innovation performance and knowledge acquisition within organizations. Our proposed model separates (1) dyadic management controls (“one-to-one”) from (2) polyvalent management controls (“one-to-team”). Within the presented framework, an organization's manager can increase innovation performance on a dyadic level and can stimulate knowledge acquisition on a polyvalent team level. The analyses are based on data collected via an online questionnaire completed by 122 top managers worldwide. Our study shows that knowledge management and management control systems can complement each other. In our case, this is achieved by adapting an absorptive capacity framework. Furthermore, a manager's action can directly affect innovation performance. Managers can make use of the levers of management controls system to steer this effect. Regulative actions by the management are more effective on the individual level with regard to improving innovation performance. Moreover, knowledge acquisition is effectively influenced due to encouraging actions on a polyvalent level. Practical implications indicate that managers need to be aware of both the direct and indirect impact of their actions on innovation performance, be it on a direct dyadic level or an indirect polyvalent level.</p>","PeriodicalId":44561,"journal":{"name":"Journal of Corporate Accounting and Finance","volume":"37 1","pages":"113-132"},"PeriodicalIF":1.2,"publicationDate":"2025-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/jcaf.70000","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145969663","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

The Impact of Green Finance Policies on the Enterprise Export Resilience—Empirical Evidence From China's Manufacturing Industry 绿色金融政策对企业出口弹性的影响——来自中国制造业的经验证据

IF 1.2

Journal of Corporate Accounting and Finance Pub Date : 2025-07-05 DOI: 10.1002/jcaf.70002

Bimei Feng, Yu Wang, Hengyun Tang

{"title":"The Impact of Green Finance Policies on the Enterprise Export Resilience—Empirical Evidence From China's Manufacturing Industry","authors":"Bimei Feng, Yu Wang, Hengyun Tang","doi":"10.1002/jcaf.70002","DOIUrl":"https://doi.org/10.1002/jcaf.70002","url":null,"abstract":"<div>\u0000 \u0000 <p>In recent years, global economic uncertainty has intensified, making it crucial for export-oriented enterprises to bolster their export resilience to withstand external risks. This study uses the 2012 release of the “Green Credit Guidelines” by the former China Banking Regulatory Commission as a quasi-natural experiment, using data from China's listed manufacturing firms between 2009 and 2016. We conduct a difference-in-differences model to investigate experimentally how green financing policies affect export resilience. According to the findings, green finance policies considerably improve the export resilience of non-heavily polluting enterprises (NHPEs) relative to their heavily polluting counterparts (HPEs). We conduct a number of robustness tests to guarantee the validity of our conclusions. Mechanism analyses reveal that green finance policies improve export resilience through the effects of green innovation, alleviating financing constraints, and enhancing ESG performance. Heterogeneity tests indicate stronger impacts in state-owned enterprises, large-scale firms, and firms with longer operating histories. Additionally, higher levels of regional digital inclusive finance and greater industry market concentration further reinforce export resilience. Further analysis demonstrates that green finance policies not only improve NHPEs' risk resistance but also enhance their export recovery capabilities. For businesses looking to use green finance to increase export resilience, these findings provide insightful information.</p>\u0000 </div>","PeriodicalId":44561,"journal":{"name":"Journal of Corporate Accounting and Finance","volume":"37 1","pages":"133-143"},"PeriodicalIF":1.2,"publicationDate":"2025-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145983662","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