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Journal of International Accounting Research最新文献

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How Does Risk Tolerance Reflected in National Culture Affect Pay-Performance Sensitivity? 民族文化所反映的风险承受能力如何影响薪酬绩效敏感性?
IF 1.2
Journal of International Accounting Research Pub Date : 2023-03-01 DOI: 10.2308/jiar-2021-039
Michael D. Free, P. Kent, Xin Qu, D. Yao
{"title":"How Does Risk Tolerance Reflected in National Culture Affect Pay-Performance Sensitivity?","authors":"Michael D. Free, P. Kent, Xin Qu, D. Yao","doi":"10.2308/jiar-2021-039","DOIUrl":"https://doi.org/10.2308/jiar-2021-039","url":null,"abstract":"\u0000 The standard principal-agent model predicts that, ceteris paribus, a negative relation exists between firm risk and CEO incentives or pay-performance sensitivity. We examine how a CEO’s risk tolerance (captured by national culture) affects pay-performance sensitivity using international data from 29 countries. We find that CEOs from countries with high (low) risk tolerance are associated with high (low) pay-performance sensitivity, suggesting that they require a low (high) risk premium. We contribute to the CEO compensation literature by introducing CEO risk tolerance, an overlooked factor, into CEO compensation contracts.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47379067","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 Anticipation of Mandatory Audit Firm Rotation and Audit Quality 强制性审计事务所轮转预期与审计质量
Journal of International Accounting Research Pub Date : 2023-03-01 DOI: 10.2308/jiar-2021-095
Christian Friedrich, Nicolas Pappert, Reiner Quick
{"title":"The Anticipation of Mandatory Audit Firm Rotation and Audit Quality","authors":"Christian Friedrich, Nicolas Pappert, Reiner Quick","doi":"10.2308/jiar-2021-095","DOIUrl":"https://doi.org/10.2308/jiar-2021-095","url":null,"abstract":"ABSTRACT Researchers and regulators regularly debate whether mandatory audit firm rotation affects audit quality. Theoretically, rotation might improve auditor independence but impair competence. In 2014, the European Commission mandated audit firm rotation for public-interest entities, starting from 2020 for nonfinancial firms. However, any auditor change in the transition period could already be interpreted in light of the upcoming mandatory rotation regime, consistent with anecdotal evidence on such interpretations. These changes provide a unique setting because auditors have strong incentives to build a reputation for high-quality audits when choosing to participate in the market for rotations during the transition period. Using a balanced panel of 287 German firms and data from 2014 through 2019, we hypothesize and find lower discretionary accruals, abnormal working capital accruals, and total accruals in the first year after rotation. This effect is restricted to smaller public companies. Data Availability: The data are from public sources and are available from the third author upon written request. JEL Classifications: M42; M48.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134950118","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
Political Stability, Board Tenure and Corporate Cash Holding 政治稳定、董事任期与公司现金持有
IF 1.2
Journal of International Accounting Research Pub Date : 2022-08-19 DOI: 10.2308/jiar-2021-011
A. Ariff, K. A. Kamarudin, Aziz Jaafar
{"title":"Political Stability, Board Tenure and Corporate Cash Holding","authors":"A. Ariff, K. A. Kamarudin, Aziz Jaafar","doi":"10.2308/jiar-2021-011","DOIUrl":"https://doi.org/10.2308/jiar-2021-011","url":null,"abstract":"This paper investigates whether board tenure is associated with corporate cash holding and whether country-level political stability moderates the effect of board tenure on corporate cash holding. Using 16,351 firm-year observations across 39 countries, our main results show that firms with higher average board tenure exhibit lower cash holding. Furthermore, strong political stability mitigates the negative relationship between the average board tenure and corporate cash holdings.  Our results are robust to various specifications, including endogeneity issue, weighted least-square regression, global financial crisis effect, and alternative measures for corporate cash holding and country-level institutional factors. Overall, our results imply the need to strengthen the institutional environment, given that countries with stable politics are those with incentives for the board to function effectively.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2022-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46620503","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
Does a Carbon Management System Mitigate the Consequences of Carbon Emissions on Firm Value? An International Study 碳管理系统是否能减轻碳排放对企业价值的影响？国际研究
IF 1.2
Journal of International Accounting Research Pub Date : 2022-08-16 DOI: 10.2308/jiar-2021-019
P. Shrestha, Bobae Choi, L. Luo
{"title":"Does a Carbon Management System Mitigate the Consequences of Carbon Emissions on Firm Value? An International Study","authors":"P. Shrestha, Bobae Choi, L. Luo","doi":"10.2308/jiar-2021-019","DOIUrl":"https://doi.org/10.2308/jiar-2021-019","url":null,"abstract":"Despite carbon emission is perceived as a main contributing factor to potential global climate change and associated future costs and liabilities, very limited research has focused on the value relevance of carbon management system (CMS) in the international context. Obtaining carbon emission and carbon management data from CDP from 2010-2017, we examine whether the adverse impact of carbon emissions on firm value is alleviated by the firms’ CMS. Our findings suggest that the level of carbon emissions is negatively associated with firm value, but a firm’s higher quality CMS weakens this negative relationship. The further analyses show that, the positive moderating effect of CMS is found only in carbon intensive, large, mature, and highly profitable firms. Our results provide potentially useful implications to corporate managers and outside stakeholders who are concerned about risks associated with carbon emissions and the financial implications of a firm’s CMS.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2022-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45157661","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
On the dual role of foreign directors: New insights from the Russian boards 论外国董事的双重角色:来自俄罗斯董事会的新见解
IF 1.2
Journal of International Accounting Research Pub Date : 2022-08-16 DOI: 10.2308/jiar-2021-009
O. Kim
{"title":"On the dual role of foreign directors: New insights from the Russian boards","authors":"O. Kim","doi":"10.2308/jiar-2021-009","DOIUrl":"https://doi.org/10.2308/jiar-2021-009","url":null,"abstract":"Using a unique sample of hand-collected profiles of foreign directors over the period of 2006–2016, I examine whether foreign directors’ board representation improves its dual role of monitoring and advising executives. The setting for this study is Russian public companies’ boards, different from that of prior research that was conducted in developed countries. I find that foreign directors’ board representation is positively associated with the probability of Russian companies’ cross-listing on London Stock Exchange’s Main Market, alone or in combination with other markets. Non-London stock exchanges that are popular among Russian companies are characterized by less rigorous listing and reporting obligations as compared to the London. Accordingly, foreign directors enhance the boards’ advisory role but only in cases in which their expertise is critical. Notably, foreign directors’ serving on the audit committee is related to lower discretionary accruals and fewer modified audit opinion instances, enhancing the board's monitoring role,","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2022-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43932308","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
Business Strategy, Financial Reporting Violations, and Audit Pricing in an Emerging Market – Evidence from China 新兴市场的商业战略、财务报告违规和审计定价——来自中国的证据
IF 1.2
Journal of International Accounting Research Pub Date : 2022-06-20 DOI: 10.2308/jiar-2021-054
Lily Chen, Fang Hu, A. Krishnan, Lina Z. Li
{"title":"Business Strategy, Financial Reporting Violations, and Audit Pricing in an Emerging Market – Evidence from China","authors":"Lily Chen, Fang Hu, A. Krishnan, Lina Z. Li","doi":"10.2308/jiar-2021-054","DOIUrl":"https://doi.org/10.2308/jiar-2021-054","url":null,"abstract":"We examine whether a firm’s business strategy is associated with financial reporting violations and audit fees in an emerging market setting. We follow the typology of Miles and Snow (1978, 2003) that describes a strategy continuum with the innovative ‘prospector’ strategy and the cost-leadership ‘defender’ strategy at the two ends. Using data from China, we find that prospectors are associated with more financial reporting violations and higher audit fees than defenders. Specifically, prospectors are positively associated with the occurrence of inadvertent reporting violations. Further analysis reveals that the increase in audit fees for prospectors is not different among firms exposed to different levels of business risk (proxied by ownership structure, auditor size, and leverage). We conjecture that the associations between business strategy and financial reporting violations and audit fees in China are due to firm financial reporting risks arising from accounting complexity.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2022-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45297995","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
Applying of ISA 240 for Fraud Detection and Resolution: Evidence from Indonesia and Ghana ISA 240在欺诈检测和解决中的应用:来自印度尼西亚和加纳的证据
IF 1.2
Journal of International Accounting Research Pub Date : 2022-06-20 DOI: 10.2308/jiar-2021-024
Arizona Mustikarini, Basil Abeifaa Der, Iris Stuart
{"title":"Applying of ISA 240 for Fraud Detection and Resolution: Evidence from Indonesia and Ghana","authors":"Arizona Mustikarini, Basil Abeifaa Der, Iris Stuart","doi":"10.2308/jiar-2021-024","DOIUrl":"https://doi.org/10.2308/jiar-2021-024","url":null,"abstract":"Prior studies in developed countries investigate the auditor’s fraud detection process. However, it is unclear whether the results from developed countries apply in developing countries because no fraud detection research has been performed in this setting. The current study examines how auditors in two developing countries, Indonesia and Ghana, apply ISA 240 for fraud detection, including how auditors identify, investigate, and resolve potential fraud issues. We find that: (1) senior managers originate most asset misappropriation frauds; (2) auditors in Indonesia and Ghana do not use information technology or internal control assessment for fraud investigation; (3) auditors modify the audit program once potential fraud is detected; and (4) auditors use a more contending than conceding negotiation strategy when resolving potential fraud issues, which often stop short of requiring audit clients to record all audit adjustments.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2022-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46281993","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
Fair Value Accounting for Property, Plant & Equipment: Impact of IFRS 1 Adoption 房地产、厂房和设备的公允价值会计：采用IFRS 1的影响
IF 1.2
Journal of International Accounting Research Pub Date : 2022-05-24 DOI: 10.2308/jiar-2021-084
Yan Jin, Flora Niu, L. Sheng
{"title":"Fair Value Accounting for Property, Plant & Equipment: Impact of IFRS 1 Adoption","authors":"Yan Jin, Flora Niu, L. Sheng","doi":"10.2308/jiar-2021-084","DOIUrl":"https://doi.org/10.2308/jiar-2021-084","url":null,"abstract":"This paper uses a unique setting of Canadian public firms adopting International Financial Reporting Standards (IFRS) to investigate the factors that motivate companies to revalue Property, Plant & Equipment (PP&E) under the deemed cost provision in IFRS 1, and whether revaluations help predict future performance, and what is the market reaction to such revaluations. Utilizing the probit model, difference-in-differences approach, and Wald test, we predict and find that large firms and/or firms with higher net PP&E to total assets ratios are more likely to revalue PP&E, and firms adopting the fair value option for PP&E record lower depreciation in the post-IFRS period. In addition, we find that investors react negatively to the firms electing the fair value option for PP&E and the market discounts such revaluation information.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2022-05-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47252446","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
Audit partner industry specialization and the cost of debt: Evidence from Thailand 审计伙伴行业专业化与债务成本：来自泰国的证据
IF 1.2
Journal of International Accounting Research Pub Date : 2022-05-23 DOI: 10.2308/jiar-2021-059
K. Sanoran
{"title":"Audit partner industry specialization and the cost of debt: Evidence from Thailand","authors":"K. Sanoran","doi":"10.2308/jiar-2021-059","DOIUrl":"https://doi.org/10.2308/jiar-2021-059","url":null,"abstract":"Previous research reports a lower cost of debt when auditors are industry specialists at the national- and city-levels and at the firm- and office-levels. This study examines whether the cost of debt decreases with auditor industry specialization at the engagement partner level. Most audits are conducted on private companies and audit partners mainly gain industry expertise on private company audits. This paper uses data from public and private companies in Thailand and investigates the moderating effects of company type and the global financial crisis (GFC) on the association between auditor industry specialization and the cost of debt. The results indicate that audit partner industry specialization is negatively associated with the cost of debt only in the GFC period. In contrast to findings from prior studies, I find no additional benefit from hiring an industry specialist during the non-crisis period.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2022-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44875038","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
Corporate Transparency and Externally Financed Firm Growth 企业透明度与外部融资企业成长
IF 1.2
Journal of International Accounting Research Pub Date : 2022-04-22 DOI: 10.2308/jiar-2021-070
Shawn X. Huang, Raynolde Pereira, Changjiang Wang
{"title":"Corporate Transparency and Externally Financed Firm Growth","authors":"Shawn X. Huang, Raynolde Pereira, Changjiang Wang","doi":"10.2308/jiar-2021-070","DOIUrl":"https://doi.org/10.2308/jiar-2021-070","url":null,"abstract":"Employing a comprehensive measure of country-level corporate transparency, we document a positive relation between corporate transparency and externally financed firm growth. This relation is robust to controlling for variables related to the quality of a country’s legal institutions and the overall level of financial development. We also show that the level of external financing in the form of long-term debt is higher among firms in countries with greater corporate transparency. Further cross-sectional tests reveal that the role of corporate transparency in firm growth and external financing is less pronounced among bank-oriented countries as compared to market-oriented countries. In sum, our evidence highlights the positive impact of corporate transparency on economic growth through its impact on firm access to low-cost external financing.","PeriodicalId":45457,"journal":{"name":"Journal of International Accounting Research","volume":null,"pages":null},"PeriodicalIF":1.2,"publicationDate":"2022-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48152730","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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