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Journal of International Accounting Research最新文献

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Religious Tradition and Employee Compensation 宗教传统与员工薪酬
IF 1.2
Journal of International Accounting Research Pub Date : 2022-03-29 DOI: 10.2308/jiar-2021-042
Gang Zhao, Shangkun Liang, Jindan Zhang, H. Huang
{"title":"Religious Tradition and Employee Compensation","authors":"Gang Zhao, Shangkun Liang, Jindan Zhang, H. Huang","doi":"10.2308/jiar-2021-042","DOIUrl":"https://doi.org/10.2308/jiar-2021-042","url":null,"abstract":"This study investigates the relation between Buddhist tradition and employee compensation. Using a large sample of Chinese listed companies from 2007 through 2017, we find that the average employee compensation is higher in companies located in more religious areas. This effect is more pronounced during the 2007−2009 financial crisis.Additional analyses indicate that these companies have smaller pay disparity between executives and employees and are ranked higher in the employee relationship component of corporate social responsibility (CSR). These findings contribute to our understanding of the relation between religious tradition and employee compensation and provide insights into how social norms can influence corporate practices.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2022-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49025271","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 Economic Consequences of Hosting the Olympic Games: International Evidence from Cross-Listings 举办奥运会的经济后果:来自交叉上市的国际证据
IF 1.2
Journal of International Accounting Research Pub Date : 2021-12-21 DOI: 10.2308/jiar-2021-033
Albert H. C. Tsang, K. Wang, Nathan Zhenghang Zhu, Li Yu
{"title":"The Economic Consequences of Hosting the Olympic Games: International Evidence from Cross-Listings","authors":"Albert H. C. Tsang, K. Wang, Nathan Zhenghang Zhu, Li Yu","doi":"10.2308/jiar-2021-033","DOIUrl":"https://doi.org/10.2308/jiar-2021-033","url":null,"abstract":"Based on evidence from nine countries that hosted the Olympic Games, we show that relative to firms domiciled in non-Olympics-hosting countries, firms domiciled in Olympics-hosting countries engage in more cross-listing in the years following the Olympics. The effect of hosting the Olympics on firms’ cross-listing activities is more pronounced for firms domiciled in host countries with better performance in the Games; for firms domiciled in countries hosting the Summer Olympics; and for domestic firms. We also find that cross-listing firms domiciled in an Olympics-hosting country tend to cross-list in foreign countries with a greater institutional distance from the host country after the Olympics. Finally, we document a positive effect of Olympics-hosting on the consequences of cross-listing. Taken together, our findings suggest that hosting the Olympics improves the international reputation of the host country, which helps firms domiciled in that country to overcome the liability of foreignness when making cross-listing decisions.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":"1 1","pages":""},"PeriodicalIF":1.2,"publicationDate":"2021-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41988238","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: 5
Overreaction or Underreaction to Intra-Industry Earnings Information Transfer: A Cross-Country Analysis 对行业内收益信息传递的过度反应或反应不足:一个跨国分析
IF 1.2
Journal of International Accounting Research Pub Date : 2021-12-09 DOI: 10.2308/jiar-2021-086
C.S. Agnes Cheng, Jing Fang, Yuan Huang, Yuxiang Zhong
{"title":"Overreaction or Underreaction to Intra-Industry Earnings Information Transfer: A Cross-Country Analysis","authors":"C.S. Agnes Cheng, Jing Fang, Yuan Huang, Yuxiang Zhong","doi":"10.2308/jiar-2021-086","DOIUrl":"https://doi.org/10.2308/jiar-2021-086","url":null,"abstract":"We apply the moderated confidence hypothesis (MCH) to investigate overreaction and underreaction in intra-industry earnings information transfers in an international setting. MCH predicts that late announcing firms’ investors overreact (underreact) to early announcing industry peers’ earnings news when early announcing peers’ earnings news is imprecise (precise) signals of late announcing firms’ earnings. Consistent with early announcing peers’ earnings news being imprecise signals of late announcing firms’ earnings in an international setting, we find that late announcing firms’ investors overreact to early announcing peers’ earnings news. The country-level information environment and culture shape the precision of peers’ earnings as signals of each other’s earnings and investor behaviors. Consistent with MCH, we find that late announcing firms’ investors are more likely to underreact in countries with a richer information environment, are more likely to overreact in countries with higher individualism and are less likely to overreact in countries with higher uncertainty avoidance.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2021-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48941972","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
International Accounting and Auditing Standards Adoption in Non-EU Eastern European Countries: Review of Regulations and Literature 非欧盟东欧国家采用国际会计和审计准则:法规和文献综述
IF 1.2
Journal of International Accounting Research Pub Date : 2021-12-06 DOI: 10.2308/jiar-2021-104
Maria Rykaczewski, Maya Thevenot, M. Vulcheva
{"title":"International Accounting and Auditing Standards Adoption in Non-EU Eastern European Countries: Review of Regulations and Literature","authors":"Maria Rykaczewski, Maya Thevenot, M. Vulcheva","doi":"10.2308/jiar-2021-104","DOIUrl":"https://doi.org/10.2308/jiar-2021-104","url":null,"abstract":"In this paper, we review the regulations and research on the adoption of international accounting and audit standards in eleven Eastern European countries outside of the European Union. We find many regulatory commonalities among these jurisdictions related to their Communist-bloc heritage. The state remains the most important stakeholder and tax accounting dominates financial reporting. The work of local auditors is considered less reliable than that of their Big 4 counterparts. International organizations and the Big 4 auditors provide stimuli for and assistance with international standards’ adoption. Accounting and audit research is limited. The scarcity of data forces most authors to focus on the qualitative evaluation of accounting and audit reforms. Some opt for surveys. Few papers include empirical analyses. Our review covers jurisdictions, which have received limited attention in prior literature. We inform future empirical work and speak to the generalizability of previous research findings to this set of countries.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2021-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44401892","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: 1
Business Strategy, Corporate Social Responsibility Activities, and Financial Performance 企业战略、企业社会责任活动和财务绩效
IF 1.2
Journal of International Accounting Research Pub Date : 2021-11-29 DOI: 10.2308/jiar-2021-068
Joanna L. Y. Ho, Fu-Hsuan Hsu, C. Lee
{"title":"Business Strategy, Corporate Social Responsibility Activities, and Financial Performance","authors":"Joanna L. Y. Ho, Fu-Hsuan Hsu, C. Lee","doi":"10.2308/jiar-2021-068","DOIUrl":"https://doi.org/10.2308/jiar-2021-068","url":null,"abstract":"This study examines how the alignment between business strategy (prospector vs. defender) and CSR affects company performance. There are different types of CSR; some involve internal stakeholders, and others involve external stakeholders. While external CSR may bring public visibility and company prestige, internal CSR can strengthen employee relations. We use the U.S. publicly listed companies because the data is more readily available and find a stronger positive relationship between external (internal) CSR and financial performance for prospectors (defenders) than for defenders (prospectors). We further find that the positive relationship is more profound for multinational companies than for domestic companies. Our study contributes to the extant literature on international accounting, CSR, and business strategy. Our findings have significant implications for managers in global markets, demonstrating that undertaking different types of CSR can increase their company’s competitive advantages and simultaneously advance social and economic conditions.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2021-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45694754","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
Banking Reform, Risk-taking, and Accounting Quality Evidence from Post-Soviet Transition States 后苏联转型国家的银行改革、风险承担和会计质量证据
IF 1.2
Journal of International Accounting Research Pub Date : 2021-11-09 DOI: 10.2308/jiar-2021-087
Yiwei Fang, Wassim Dbouk, I. Hasan, Lingxiang Li
{"title":"Banking Reform, Risk-taking, and Accounting Quality Evidence from Post-Soviet Transition States","authors":"Yiwei Fang, Wassim Dbouk, I. Hasan, Lingxiang Li","doi":"10.2308/jiar-2021-087","DOIUrl":"https://doi.org/10.2308/jiar-2021-087","url":null,"abstract":"The drastic banking reform within Central and Eastern Europe following the collapse of the Soviet Union provides an ideal quasi-experimental design to examine the causal effects of institutional development on accounting quality (AQ). We find that banking reform spurs significant improvement in predictive power of earnings and reductions in earnings smoothing, earnings-inflating discretionary provisions, and avoidance of reporting losses. These effects hold under alternative model specifications and after considering concurrent institutional developments. In contrast, corporate reform shows no such effects, refuting the alternative explanation that unobserved factors affect both reform speed in general and the quality of financial reporting. We further identify four specific reformative actions that are integral to the drastic banking reform process where prudential regulation contributes the most to the observed AQ improvement. It supports the conjecture that banking reform improves AQ by reducing banks’ risk-taking behaviors and, as a result, their motive behind accounting manipulation.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2021-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46929580","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
CEO media coverage and corporate investment CEO媒体报道与企业投资
IF 1.2
Journal of International Accounting Research Pub Date : 2021-09-23 DOI: 10.2308/jiar-2021-076
Weijie Chen, Yongjie Zhang, Jingran Zhao, Gang Hu, G. Zou
{"title":"CEO media coverage and corporate investment","authors":"Weijie Chen, Yongjie Zhang, Jingran Zhao, Gang Hu, G. Zou","doi":"10.2308/jiar-2021-076","DOIUrl":"https://doi.org/10.2308/jiar-2021-076","url":null,"abstract":"We examine how the tone of news articles about CEOs affects corporate investment at the CEOs’ firms. Using unique Chinese media coverage data, we show that positive CEO news articles are significantly associated with increased corporate investment, and the total number of articles does not matter. To establish causality, we use a Granger lead-lag test approach, as well as an instrumental variable approach that uses type of news outlets (state-controlled vs. non-state-controlled). Our identification strategies suggest a positive causal effect of CEO news tone on the level of corporate investment. We further identify two underlying economic mechanisms: CEO overconfidence and investor sentiment. We find that the relation between CEO news tone and corporate investment is mainly driven by the overinvestment aspect of investment inefficiency. Our work contributes to prior literature by examining the effects of specific news types (i.e., CEO coverage) and by highlighting a behavioral perspective underlying corporate investment.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2021-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43413888","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: 1
Does mandatory corporate social responsibility disclosure affect share price responses to earnings announcements? Evidence from China 强制性的企业社会责任披露是否会影响股价对盈利公告的反应？来自中国的证据
IF 1.2
Journal of International Accounting Research Pub Date : 2021-09-23 DOI: 10.2308/jiar-2021-075
Peixin Wang, Haijie Huang, Edward Lee, J. Petaibanlue
{"title":"Does mandatory corporate social responsibility disclosure affect share price responses to earnings announcements? Evidence from China","authors":"Peixin Wang, Haijie Huang, Edward Lee, J. Petaibanlue","doi":"10.2308/jiar-2021-075","DOIUrl":"https://doi.org/10.2308/jiar-2021-075","url":null,"abstract":"We utilize the mandatory corporate social responsibility (CSR) disclosure regulation in China as an exogenous shock to evaluate the impact of such disclosures on investors as end-users of accounting information based on the analysis of share price responses to earnings announcements. Specifically, we observe that firms with mandated CSR disclosure experience an increase in earnings response coefficient and a decrease in post-earnings announcement drift. Furthermore, these effects are greater among CSR-sensitive industries, state-owned enterprises, and lower accounting quality firms. Additional analysis also reveals that these effects vary by the quality of CSR disclosure and CSR performance. These findings suggest that CSR disclosure provides incremental information that are useful for investors to assess firms’ future prospects and uncertainties. A broader implication of our study is that mandating CSR disclosure could improve market information efficiency and benefit outside investors.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2021-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45695062","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: 2
Tax Avoidance and Tax Disclosures in Corporate Social Responsibility Reports in the United Kingdom 英国企业社会责任报告中的避税和税务披露
IF 1.2
Journal of International Accounting Research Pub Date : 2021-09-07 DOI: 10.2308/jiar-2020-036
W. Kao, Chih-Hsien Liao
{"title":"Tax Avoidance and Tax Disclosures in Corporate Social Responsibility Reports in the United Kingdom","authors":"W. Kao, Chih-Hsien Liao","doi":"10.2308/jiar-2020-036","DOIUrl":"https://doi.org/10.2308/jiar-2020-036","url":null,"abstract":"This study examines how a firm’s tax disclosures in a CSR report are influenced by its tax avoidance behavior. Using a sample of public U.K. firms, our empirical analysis reveals that firms engaging in higher levels of tax avoidance are more likely to provide tax-specific disclosures in their CSR reports. In addition, the tax disclosures tend to be longer, contain more justification words, and contain more soft claims than hard information. Further cross-sectional analyses suggest that the positive association between tax avoidance and tax disclosures is attenuated when firms exhibit better CSR performance as well as stronger corporate governance. Collectively, our findings provide evidence that firms appear to legitimize their tax avoidance behavior by providing more tax disclosures in their communications with stakeholders.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2021-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42861510","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
Foreign cash, repatriation, and credit ratings: Evidence from U.S. multinationals 外国现金、汇回和信用评级:来自美国跨国公司的证据
IF 1.2
Journal of International Accounting Research Pub Date : 2021-09-03 DOI: 10.2308/jiar-2020-069
Bing Luo, Lufei Ruan
{"title":"Foreign cash, repatriation, and credit ratings: Evidence from U.S. multinationals","authors":"Bing Luo, Lufei Ruan","doi":"10.2308/jiar-2020-069","DOIUrl":"https://doi.org/10.2308/jiar-2020-069","url":null,"abstract":"U.S. multinationals hold record-high foreign cash levels and commit not to repatriate foreign cash “in the foreseeable future” to qualify for deferring tax. We argue that such commitments reveal firms’ private information of short-term financial health and thus is a positive factor in credit risk assessments. Using a sample of listed U.S. multinationals in 2009-2016, we document a positive correlation between foreign cash holdings and credit ratings, confirming that rating agencies positively perceive foreign cash holdings. We further find that the positive correlation is stronger in firms with low repatriation costs, in firms that operate in fewer foreign countries, and in firms with poorer financial reporting quality. Our results still hold when applying different identification strategies, reducing the likelihood that our results are purely driven by endogeneity bias.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2021-09-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48069204","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
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