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Voluntary ESG information disclosure on social media and ESG rating divergence: evidence from Sina Weibo 社会媒体ESG信息自愿披露与ESG评级分化：来自新浪微博的证据
IF 4
China Journal of Accounting Research Pub Date : 2026-03-01 Epub Date: 2026-01-09 DOI: 10.1016/j.cjar.2025.100463
Wenfei Li, Yiyan Le
{"title":"Voluntary ESG information disclosure on social media and ESG rating divergence: evidence from Sina Weibo","authors":"Wenfei Li,&nbsp;Yiyan Le","doi":"10.1016/j.cjar.2025.100463","DOIUrl":"10.1016/j.cjar.2025.100463","url":null,"abstract":"<div><div>This paper examines the impact of firms’ voluntary ESG disclosures on social media on ESG rating divergence using data from China’s Sina Weibo. The results show that social media disclosure of ESG information alleviates ESG rating divergence, supporting the information effect hypothesis rather than the noise effect hypothesis of voluntary disclosure. ESG-related posts on Weibo contain significant informational value, as evidenced by their association with lower stock price synchronicity. Moreover, the mitigating effect is more pronounced for social media posts disclosing ESG information with more likes, reposts and comments. Heterogeneity analysis reveals that the effect of voluntary ESG information disclosure in reducing ESG rating divergence is more significant for firms rated by domestic agencies, non-polluting firms and firms in areas with higher Internet penetration. Additional tests rule out the possibility that firms disclose ESG information on social media primarily for greenwashing purposes. Overall, the findings highlight that social media is an effective channel for enhancing ESG information transparency, improving the ESG disclosure system and strengthening the reliability of ESG ratings.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"19 1","pages":"Article 100463"},"PeriodicalIF":4.0,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145939550","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
Tax avoidance and CEO turnover: evidence from China 避税与CEO离职：来自中国的证据
IF 4
China Journal of Accounting Research Pub Date : 2026-03-01 Epub Date: 2025-12-15 DOI: 10.1016/j.cjar.2025.100457
Radwan Alkebsee , Ammar Ali Gull , Asad Ali Rind
{"title":"Tax avoidance and CEO turnover: evidence from China","authors":"Radwan Alkebsee ,&nbsp;Ammar Ali Gull ,&nbsp;Asad Ali Rind","doi":"10.1016/j.cjar.2025.100457","DOIUrl":"10.1016/j.cjar.2025.100457","url":null,"abstract":"<div><div>As the literature documents inconclusive evidence on whether tax avoidance affects CEO turnover, we examine the impact of tax avoidance on forced CEO turnover and the moderating effect of ownership structure, political connections and regional tax enforcement on this relationship. Using data on Chinese listed firms involving 10,653 observations for the 2011–2018 period, we test our hypotheses using logistic regressions. We find that tax avoidance is positively associated with forced CEO turnover, suggesting that tax-avoiding firms are more likely to face leadership crises. Furthermore, the positive association is pronounced for firms that are state-owned, lack political connections or are located in developed regions with active tax enforcement. Our results, which are robust to alternative proxies and endogeneity tests, should interest policymakers and investors as they demonstrate the impact of tax avoidance on corporate governance and leadership.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"19 1","pages":"Article 100457"},"PeriodicalIF":4.0,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145753677","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
Sustained learning and corporate ESG practices: evidence from returnee CEOs in China 持续学习与企业ESG实践：来自中国海归ceo的证据
IF 4
China Journal of Accounting Research Pub Date : 2026-03-01 Epub Date: 2026-01-16 DOI: 10.1016/j.cjar.2025.100467
Juan Liang , Liwei Shan , Albert Tsang , Xiaoxue Zhang
{"title":"Sustained learning and corporate ESG practices: evidence from returnee CEOs in China","authors":"Juan Liang ,&nbsp;Liwei Shan ,&nbsp;Albert Tsang ,&nbsp;Xiaoxue Zhang","doi":"10.1016/j.cjar.2025.100467","DOIUrl":"10.1016/j.cjar.2025.100467","url":null,"abstract":"<div><div>This study explores a new channel through which environmental, social and governance (ESG) reporting mandates implemented in one country can influence firms’ ESG performance in another country, focusing on returnee CEOs in China who studied or worked abroad. We find that compared with Chinese firms led by returnee CEOs from countries without ESG mandates or Chinese CEOs with no foreign experience, firms managed by returnee CEOs from countries with ESG mandates implemented <em>after their return</em> show improved ESG performance. Therefore, returnee CEOs’ sustained attention to foreign regulatory environments has a lasting impact on their decision-making, particularly in relation to ESG practices. Additionally, we find that the influence of foreign ESG reporting mandates on Chinese firms’ ESG performance is stronger when mandates originate from countries with strong investor protection, when firms are audited by reputable auditors, when they generate more sales in foreign markets and when they have foreign subsidiaries. Our findings reveal how CEOs’ foreign relationships and networks can transcend geographical boundaries, shape individual behaviors and decisions and enhance ESG practices.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"19 1","pages":"Article 100467"},"PeriodicalIF":4.0,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145978126","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
Climate risk and adaptive green innovation: evidence from China 气候风险与适应性绿色创新：来自中国的证据
IF 4
China Journal of Accounting Research Pub Date : 2025-12-01 Epub Date: 2025-10-03 DOI: 10.1016/j.cjar.2025.100446
Xudong Tang , Lin Wang , Lulu Pan
{"title":"Climate risk and adaptive green innovation: evidence from China","authors":"Xudong Tang ,&nbsp;Lin Wang ,&nbsp;Lulu Pan","doi":"10.1016/j.cjar.2025.100446","DOIUrl":"10.1016/j.cjar.2025.100446","url":null,"abstract":"<div><div>Firms’ adaptation to climate risk is crucial for economic resilience. This paper links 2724 Chinese meteorological stations with A-share listed firms from 2006 to 2020 by geographic proximity. We construct a comprehensive climate risk measure via the entropy method and find that climate risk can promote green invention patent applications at the firm level. Mechanistically, climate risk drives green innovation by strengthening external government environmental regulations and internal corporate environmental responsibility. The effect is stronger in non-polluting industries and when firms receive more attention from social media. This study enhances understanding of firms’ positive adaptation to climate risk and offers new insight into green innovation drivers.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 4","pages":"Article 100446"},"PeriodicalIF":4.0,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145221432","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
Investor sentiment and audit-related human resource input: Evidence from audit-related job postings 投资者情绪与审计相关的人力资源投入：来自审计相关职位的证据
IF 4
China Journal of Accounting Research Pub Date : 2025-12-01 Epub Date: 2025-09-04 DOI: 10.1016/j.cjar.2025.100443
Zijun Luo , Weidong Xu , Donghui Li , Rui Xu , Meiting Lu
{"title":"Investor sentiment and audit-related human resource input: Evidence from audit-related job postings","authors":"Zijun Luo ,&nbsp;Weidong Xu ,&nbsp;Donghui Li ,&nbsp;Rui Xu ,&nbsp;Meiting Lu","doi":"10.1016/j.cjar.2025.100443","DOIUrl":"10.1016/j.cjar.2025.100443","url":null,"abstract":"<div><div>This paper finds that less favorable investor sentiment is associated with a higher level of audit-related job postings, driven by reduced corporate reputation, increased investor attention and greater regulatory pressure. Furthermore, the impact of investor sentiment on audit-related job postings is less pronounced when companies are audited by industry-specialist audit firms and more pronounced when the importance of clients to the audit firm is higher. The main findings remain robust after a series of endogeneity and robustness tests.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 4","pages":"Article 100443"},"PeriodicalIF":4.0,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144997857","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 effect of data sharing on supply chain risks: a quasi-natural experiment from China’s public data open platforms 数据共享对供应链风险的影响：来自中国公共数据开放平台的准自然实验
IF 4
China Journal of Accounting Research Pub Date : 2025-12-01 Epub Date: 2025-09-04 DOI: 10.1016/j.cjar.2025.100444
Jinglu Zhao
{"title":"The effect of data sharing on supply chain risks: a quasi-natural experiment from China’s public data open platforms","authors":"Jinglu Zhao","doi":"10.1016/j.cjar.2025.100444","DOIUrl":"10.1016/j.cjar.2025.100444","url":null,"abstract":"<div><div>Data represent a crucial production factor and information source for firms’ production scheduling and risk management. Exploiting China’s staggered establishment of public data open platforms (PDOPs), I sample Chinese A-share listed firms (2010–2022) and apply a staggered difference-in-differences model to investigate how data sharing impacts firm-level supply chain risk. Supply chain risk decreases significantly following PDOP establishment. Data sharing via PDOPs alleviates the “bullwhip effect” and promotes supply chain diversification, mitigating supply chain risks. In more complex firms, those with more advanced digital innovation, as well as non-state-owned firms, data sharing plays a greater role in alleviating supply chain risks. These findings increase awareness of the significance of data resources and offer practical guidance for enterprises’ supply chain risk management.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 4","pages":"Article 100444"},"PeriodicalIF":4.0,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144997858","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
Peer effect of key audit matters disclosure 关键审计事项披露的同行效应
IF 4
China Journal of Accounting Research Pub Date : 2025-12-01 Epub Date: 2025-09-23 DOI: 10.1016/j.cjar.2025.100445
Hengguang Wu, Xiangyan Shi, Xueman Zhang
{"title":"Peer effect of key audit matters disclosure","authors":"Hengguang Wu,&nbsp;Xiangyan Shi,&nbsp;Xueman Zhang","doi":"10.1016/j.cjar.2025.100445","DOIUrl":"10.1016/j.cjar.2025.100445","url":null,"abstract":"<div><div>Examining Chinese listed companies (2017–2021), we show that key audit matters (KAMs) disclosure exhibits a significant peer effect. We verify a rivalry-based theory of this effect. Audit firms with similar (vs. divergent) resource endowments are more likely to mimic peers’ KAMs disclosure, particularly when auditors face more intense competition and a more uncertain information environment. Material misstatement risks may dampen the peer effect for less economically significant clients and auditors with more industry specialists, suggesting that this effect reflects auditors’ rational cost–benefit trade-off. Finally, the peer effect expands audit market share but reduces KAMs’ communication value. Our findings enrich KAMs disclosure research and provide implications for enhancing audit report reforms and the communicative value of KAMs disclosure.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 4","pages":"Article 100445"},"PeriodicalIF":4.0,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145118757","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
Parent firm dividends, financial pressure transmission and tax avoidance among subsidiaries: Evidence from China 母公司股利、财务压力传导与子公司间避税：来自中国的证据
IF 4
China Journal of Accounting Research Pub Date : 2025-12-01 Epub Date: 2025-10-07 DOI: 10.1016/j.cjar.2025.100447
Xiao Chen , Ziang Lin , Daosheng Xu
{"title":"Parent firm dividends, financial pressure transmission and tax avoidance among subsidiaries: Evidence from China","authors":"Xiao Chen ,&nbsp;Ziang Lin ,&nbsp;Daosheng Xu","doi":"10.1016/j.cjar.2025.100447","DOIUrl":"10.1016/j.cjar.2025.100447","url":null,"abstract":"<div><div>Although business groups are prevalent globally, limited attention is paid to how financial pressure transmission between parent and subsidiary firms elicits tax avoidance. We explore the impact of parent firms’ dividend policy on their subsidiaries’ tax strategy using China’s mandatory dividend policy as a quasi-natural experiment. We find that parent firm dividends elevate tax avoidance among their subsidiaries. Mechanism tests show that parent firms transmit the pressure of paying dividends to their subsidiaries, compelling them to adopt tax avoidance strategies to alleviate the pressure. The effect is more pronounced among subsidiaries facing greater dividend pressure and external financing constraints and operating in weaker corporate governance environments. Finally, subsidiaries engaging in greater tax avoidance subsequently pay higher dividends. Our findings highlight how intra-group financial dynamics influence tax avoidance among subsidiaries and the significance of financial pressure transmission from parent firms to subsidiaries.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 4","pages":"Article 100447"},"PeriodicalIF":4.0,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145266991","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
Science and technology policy and corporate financing: evidence from China’s national industrial technology innovation strategic alliance 科技政策与企业融资：来自中国国家产业技术创新战略联盟的证据
IF 4
China Journal of Accounting Research Pub Date : 2025-12-01 Epub Date: 2025-10-24 DOI: 10.1016/j.cjar.2025.100450
Shuaiqi Xu, Xin Xu, Zheng Zou
{"title":"Science and technology policy and corporate financing: evidence from China’s national industrial technology innovation strategic alliance","authors":"Shuaiqi Xu,&nbsp;Xin Xu,&nbsp;Zheng Zou","doi":"10.1016/j.cjar.2025.100450","DOIUrl":"10.1016/j.cjar.2025.100450","url":null,"abstract":"<div><div>We examine the impact of science and technology policies on corporate initial public offering (IPO) outcomes in the context of pilot implementation of the <em>China Industry Technology Innovation Strategic Alliance</em> (CITISA). We find that CITISA significantly facilitates IPO financing by increasing the probability of IPO success and reducing underpricing. Mechanistically, this policy operates through three main channels: national credit endorsement, alignment with national strategic priorities and signaling of firms’ quality. Compared with other IPO firms, those admitted to CITISA demonstrate superior post-IPO performance, reflected in higher stock performance, analyst ratings, innovation outcomes and market valuation; improved operating results; and more active trading. This study contributes to the literature by underscoring the role of innovation policies in shaping corporate financing outcomes, providing novel evidence that China’s IPO market catalyzes technological innovation.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 4","pages":"Article 100450"},"PeriodicalIF":4.0,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145362714","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
Strategic fit and trade credit: evidence from China 战略契合与贸易信用：来自中国的证据
IF 4
China Journal of Accounting Research Pub Date : 2025-12-01 Epub Date: 2025-10-21 DOI: 10.1016/j.cjar.2025.100448
Qianrui Xu , Feng Yang
{"title":"Strategic fit and trade credit: evidence from China","authors":"Qianrui Xu ,&nbsp;Feng Yang","doi":"10.1016/j.cjar.2025.100448","DOIUrl":"10.1016/j.cjar.2025.100448","url":null,"abstract":"<div><div>Given its widespread use, clarifying the influence of strategic fit between firms and customers on firms’ credit decisions is important. Unlike most studies focusing on individual firm characteristics, we examine the impact of strategic fit on firms’ trade credit decisions. Using a sample of Chinese listed firms from 2007 to 2022, we find that the strategic fit between a firm and its customer is positively associated with the firm’s trade credit provision. This effect is strengthened when suppliers operate in highly competitive industries, lack common institutional ownership with customers, distribute few cash dividends and face cash shortages. This reveals that strategic fit can increase suppliers’ willingness and capacity to provide trade credit. We also show that strategic fit facilitates firms’ accounts payable and improves performance. Analyzing different strategies shows that alignment with operational excellence and customer intimacy increases suppliers’ trade credit provision, while alignment with innovation has no effect. Our findings deepen the understanding of the complex relationship between strategic fit and firms’ trade credit decisions.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 4","pages":"Article 100448"},"PeriodicalIF":4.0,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145362713","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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