Journal of Accounting in Emerging Economies最新文献

{"title":"Belief perseverance in students’ perceptions of accounting in a distance-learning environment: evidence from a GCC university","authors":"Nader Elsayed","doi":"10.1108/jaee-12-2021-0406","DOIUrl":"https://doi.org/10.1108/jaee-12-2021-0406","url":null,"abstract":"PurposeBy drawing on Belief Perseverance Theory (BPT), this study investigates the pre- and post-perceptions of the First Accounting Course (FAC) differentiating between accounting and non-accounting students in a virtual learning setting at a Gulf Cooperation Council (GCC) university, and explains why students' perceptions have formed.Design/methodology/approachAdopting a case study approach, this study employs quantitative (anonymous questionnaires) and qualitative (semi-structured interviews) methods.FindingsResponses from 142 financial accounting students indicate that non-accounting majors generally changed the students' perceptions significantly at the end of the semester, whereas students' accounting counterparts had relatively stable perceptions. This study also finds that a large number of non-accounting students perceived the benefits of taking the FAC and generally have less negative perceptions of the accounting profession, which supports the notion that non-accounting students evaluated discrediting information to reassess non-accounting students pre-established perceptions.Practical implicationsThis study has several implications as follows: for the accounting education literature on how FAC assists students in changing students' perceptions through the lens of BPT, for professional accounting bodies to find ways to promote accounting careers for students and for educators to increase students’ desire for accounting study and profession.Originality/valueThe findings from this study are expected to contribute to GCC society by providing clarifications towards increasing students’ desire for accounting studies and professions.","PeriodicalId":45702,"journal":{"name":"Journal of Accounting in Emerging Economies","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2022-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44479656","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}

{"title":"Disclosure of key audit matters (KAMs) in financial reporting: evidence from an emerging economy","authors":"M. Rahaman, Moazzem Hossain, Md. Borhan Uddin Bhuiyan","doi":"10.1108/jaee-11-2021-0355","DOIUrl":"https://doi.org/10.1108/jaee-11-2021-0355","url":null,"abstract":"PurposeThe new audit regulation for disclosure of key audit matters (KAMs) in financial reporting has been introduced in both developed and developing countries. This study investigates the influence of three distinctive sets of variables, namely industry features, firm characteristics and auditor attributes, on the extent, pattern and level of disclosure of KAMs by companies listed in Bangladesh, an emerging economy.Design/methodology/approachThe study uses qualitative and quantitative research approaches to investigate the pattern of disclosure of KAMs and their determinants. With a sample of 447 firm-year observations from companies listed on the Dhaka Stock Exchange over 2018–2020, the study reveals industry-level, firm-level and auditor-specific characteristics that affect KAMs' communication in the new audit reporting model.FindingsThe findings suggest that significant differences exist between firms in the number and types of KAMs reported and the extent of their disclosure. The study findings also observed variations both within and across different industry sectors. Highly regulated firms disclose a greater number of KAMs, while environmentally sensitive firms are found to provide a greater detail of the issues presented as KAMs. Further, both firm size and age positively impact the number of KAMs disclosed and the extent of the disclosure provided. Big-4-affiliated auditors do not issue a significantly higher number of KAMs but deliver extensive details to their KAMs description, compared to non-Big-4 auditors. In addition, while auditors, in general, tend to issue boilerplate KAMs, Big-4 associates are found to disclose more new KAMs. However, audit fees and auditor rotation do not influence KAMs disclosure.Research limitations/implicationsThis study is based on two years of publicly available data. However, future studies could consider in-depth interviews to explore the motivation behind KAMs' disclosure in Bangladesh and other developing countries with similar cultural and contextual values.Practical implicationsThese findings have substantial policy considerations for improving firms' audit quality and, thus, their financial reporting quality, with implications for national and international standard-setters, regulators and other stakeholders.Originality/valueThis study is one of the earliest endeavours to investigate KAMs in a context of an emerging country, such as Bangladesh, which adopted KAMs' disclosure in 2018.","PeriodicalId":45702,"journal":{"name":"Journal of Accounting in Emerging Economies","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2022-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46405833","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}

{"title":"Exploring elitisation of participatory budgeting in a post-Soviet democracy: evidence from a Ukrainian municipality","authors":"C. Kuruppu, O. Maksymchuk, P. Adhikari","doi":"10.1108/jaee-10-2018-0118","DOIUrl":"https://doi.org/10.1108/jaee-10-2018-0118","url":null,"abstract":"PurposeThe purpose of this paper is to explore elites' prevalence in the process of participatory budgeting (PB) in a Ukrainian municipality.Design/methodology/approachThe paper draws on the elite control and capture literature to examine the occurrence of unintended consequences resulting from the process of PB. Data for this case study are derived from document analysis and semi-structured interviews.FindingsThis study demonstrates how the involvement of a non-governmental organisation (NGO) promoted PB in a Ukrainian municipality. In the process of orienting politicians and administrators to PB, its normative benefits tend to be prioritised, whilst very little attention has been paid to making inhabitants aware of their role in the process of participatory decision-making. Although PB is intended to propagate good governance and accountability, it has in fact turned out to be a means of promoting corruption and furthering the personal interests of rent-seeking actors.Practical implicationsThe paper demonstrates how elites can capture and control PB in the context of emerging economies, thereby preventing its propagated benefits of ensuring equality, justice and emancipation in local communities from being realised.Originality/valueExploring PB in Ukraine, the authors urge that caution should be exercised with regard to the wholesale adoption of externally/NGO-propagated ideas. Each emerging economy context is distinct, and an appreciation of this uniqueness is key to the success of PB reforms in different countries.","PeriodicalId":45702,"journal":{"name":"Journal of Accounting in Emerging Economies","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2022-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43049369","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}

{"title":"Value relevance of accounting earnings and cash flows in a transition economy: the case of Serbia","authors":"Milan Čupić, M. Todorović, Slađana Benković","doi":"10.1108/jaee-12-2021-0411","DOIUrl":"https://doi.org/10.1108/jaee-12-2021-0411","url":null,"abstract":"PurposeThe purpose of the study is to investigate the association of earnings and cash flows with stock prices and returns, and the impact of regulatory changes on the value relevance of accounting numbers.Design/methodology/approachThe authors examine a sample of non-financial firms listed on the Belgrade Stock Exchange from 2005 to 2018 and use three regression models – price, return and differenced.FindingsThe authors find evidence that accounting earnings are more value relevant than cash flows. The authors also find negative relation of earnings changes with stock returns and argue that this is due to the lower persistence of negative earnings levels and changes. Finally, the authors find that the value relevance of accounting information in Serbia increases after the improvements in capital market regulation.Research limitations/implicationsGiven the empirical focus on a transition economy, the widespread applicability of the study is limited. The findings, however, call for more research on transition economies to better understand the functioning of capital markets and the way information from financial statements is incorporated into stock prices.Practical implicationsThe results imply that policymakers in transition economies should improve the accounting and capital market regulation to provide better investor protection and to improve the capital market conditions.Originality/valueThe authors add to knowledge about the value relevance of accounting information in emerging and transition economies. The results could be of interest to standard setters in their efforts to better understand and improve the quality of accounting information in emerging and transition economies.","PeriodicalId":45702,"journal":{"name":"Journal of Accounting in Emerging Economies","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2022-08-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45910060","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}

{"title":"A review of integrated thinking research in developed and developing economies","authors":"Dusan Ecim, W. Maroun","doi":"10.1108/jaee-02-2022-0046","DOIUrl":"https://doi.org/10.1108/jaee-02-2022-0046","url":null,"abstract":"PurposeThis paper assesses the state and development of integrated thinking research in selected developed and developing economies by providing a “stock taking” of the literature included in the Scopus Database based on filtered criteria.Design/methodology/approachA search was performed on the Scopus Database and all sources containing “integrated thinking” in the title, abstract, or keywords were extracted. A total of 98 sources from 2011–2021 are analysed. These are coded with the support of a content analysis and a bibliometric analysis to determine research objectives and methods, affiliations, the locus of enquiry and epistemological perspectives.FindingsThere is a steady increase in attention devoted to integrated thinking research. The earliest studies were concerned primarily with the type of extra-financial information being included in an organisation's reports. This has given way to studies concerned with the operationalisation of integrated thinking. The current research has predominantly focussed on non-positivist epistemologies at the macro- and meso-levels with limited research undertaken at organisational levels.Practical implicationsResearch on integrated thinking is particularly relevant in the context of developing economies where integrated thinking can be used as a means to value-creation, sustainable development and stakeholder inclusivity.Social implicationsThis paper provides a useful reference for practitioners, academics and journal editors interested in the development of integrated thinking research.Originality/valueThis paper highlights the need for more active research on integrated thinking and reporting in developing economies because much of what has been published to date comes from developed nations. This paper provides an overview of the state of integrated thinking research and presents important areas for future research.","PeriodicalId":45702,"journal":{"name":"Journal of Accounting in Emerging Economies","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2022-08-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"62056140","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}

{"title":"Effects of politically controlled boards on bank loan performance: an emerging economy perspective","authors":"Mohammed Mohi Uddin, M. T. Islam, Omar Al Farooque","doi":"10.1108/jaee-11-2021-0353","DOIUrl":"https://doi.org/10.1108/jaee-11-2021-0353","url":null,"abstract":"PurposeIn this study, the authors explore the effects of politically controlled boards on bank loan performance in both state-owned commercial banks (SCBs) and private sector commercial banks (PCBs) in Bangladesh.Design/methodology/approachThe data consist of 409 bank-year observations from 46 sample SCBs and PCBs of Bangladesh for the period 2008–17. The authors apply ordinary least squares pooled regression with year fixed effect for baseline econometric analyses and generalized method of moments regression for robustness tests after addressing the endogeneity issue.FindingsThe regression results reveal that the presence of bank “boards controlled by politically affiliated directors” (PA) have significant positive effects on non-performing loans (NPLs). Similarly, the presence of “boards controlled by politically affiliated directors without substantial ownership interests” (PAWOI) show positive association with NPLs. In contrast, the presence of “boards controlled by politically affiliated directors with substantial ownership interests” (PAOI) exhibit an inverse relationship with NPLs. These findings support ‘agency conflict’ arguments and document that both PA and PAWOI are detrimental to bank loan performance in Bangladesh, while PAOI do not have significant effect on increasing NPLs.Originality/valueThis study contributes to the existing bank governance literature by providing evidence from an emerging economy perspective, where politically affiliated directors (PADs) exploit their positions for personal and/or political gain at the cost of other stakeholders by taking advantage of relaxed regulatory oversights and investor protections.","PeriodicalId":45702,"journal":{"name":"Journal of Accounting in Emerging Economies","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2022-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42328562","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}

{"title":"The effect of social ties between the CEO and board of directors and fiscal council's members on earnings management","authors":"F. Ramos, Letícia Gomes Locatelli, Graça Maria do Carmo Azevedo, C. M. Costa","doi":"10.1108/jaee-07-2021-0243","DOIUrl":"https://doi.org/10.1108/jaee-07-2021-0243","url":null,"abstract":"PurposeSocial factors can shape economic decisions. Corporate governance (CG) studies and guidelines usually neglect that the chief executive officer (CEO) and board members may be socially tied. This study investigates the effects of social ties between the CEO and board members on earnings management (EM).Design/methodology/approachThe authors run a series of regressions using a sample of Brazilian companies listed on the Brazilian Stock Exchange [B]³ between 2011 and 2017 to assess the effect of the social ties between the CEO and board members on EM using a social ties index. The authors also employ five robustness tests to verify the consistency of results, including alternative proxies of EM and social ties and an estimation using fixed effects.FindingsAfter developing and computing a social ties index between the CEOs and members of the board of directors (BD) and the fiscal council (FC), the study’s findings indicate that a significant level of social ties between the CEO and BD has a negative impact on EM. However, for FC members, the authors found non-significant results.Originality/valueUnlike previous studies, the authors built a social tie index (STI) from five elements of social ties assessed in an environment with a two-tier board system. Results show that elements of social interactions and personal relationships can benefit the company, as a CEO's level of social ties with the BD reduces EM practices.","PeriodicalId":45702,"journal":{"name":"Journal of Accounting in Emerging Economies","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2022-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47854015","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}

{"title":"Risk committee and stock price crash risk in the Malaysian financial sector: the moderating role of institutional ownership","authors":"Redhwan Aldhamari, Mohamad Naimi Mohamad Nor, Omar Al Farooque, Haithm Mohammed Al-sabri","doi":"10.1108/jaee-09-2021-0298","DOIUrl":"https://doi.org/10.1108/jaee-09-2021-0298","url":null,"abstract":"PurposeThe authors empirically investigate the impact of the existence of a stand-alone risk committee (RC) and its characteristics on the likelihood of stock price crash risk in listed financial firms on the Bursa Malaysia. The authors also test whether the effect of RC on crash risk is attenuating or amplifying by the level of institutional ownership.Design/methodology/approachThe authors use a principal components analysis (PCA) to aggregate and derive a factor score for risk committee characteristics (i.e. independence, qualification, and size) as a proxy for the effectiveness of RC. The study also employs two distinct stock price crash risk measurements to corroborate the findings and partition institutional ownership into dedicated and transient to examine the potential impact of institutional shareholding on RC-stock price crash risk association.FindingsRegression analysis reveals that only RC qualification has a significant negative impact on stock price crash risk. However, when RC characteristics are aggregated into one composite factor, the authors find that firms with effective RCs exhibit lower risk of stock price crash. The authors also find that firms with high level of institutional shareholdings and effective RCs are less likely to experience crash risk likelihood. The additional analyses indicate that the complementary moderating effect of institutional ownership on RC-crash risk nexus is likely to be driven by dedicated institutional ownership. The results are robust across two measures of stock price crash risk and regression specifications for a longer run window.Originality/valueThe study, to the best of the researchers' knowledge, is the first to provide evidence in an emerging market financial sector companies' perspective suggesting that effective RCs are individually and aggregately associated with lower stock price crash risk, which is further strengthened by dedicated institutional investors. These findings are unique and contribute to a small but growing body of literature documenting the need for effective RCs and specific institutional investors and their consequences of improvements in stock price crash risk environment. Results of our research in this area provide important insights to financial and capital market participants, investors, regulators, and policymakers in Malaysia.","PeriodicalId":45702,"journal":{"name":"Journal of Accounting in Emerging Economies","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2022-07-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42850921","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}

{"title":"Institutional investors, political connections and stock recommendations from sell-side analysts: the case of Malaysia","authors":"Ameen Qasem, W. Wan-Hussin, Belal Ali Abdulraheem Ghaleb, Hasan Mohamad Bamahros","doi":"10.1108/jaee-05-2021-0177","DOIUrl":"https://doi.org/10.1108/jaee-05-2021-0177","url":null,"abstract":"PurposeThe purpose of this study is to investigate the interplay between institutional investors' ownership (IIO), politically connected firms (POC) and sell-side analysts' stock recommendations (ASR).Design/methodology/approachThis study employs ordinary least square (OLS) regression to test the hypotheses. The sample comprises 280 Malaysian public listed companies (PLC) and encompasses the 2008–2013 time frame (a total of 735 observations).FindingsThe results show a significant and positive link between IIO and ASR. In addition, a negative association is found between POC and ASR. Moreover, the POC weakens the positive relationship between the IIO and ASR.Research limitations/implicationsOne important implication of this study is that political involvement in corporate decisions is a prominent characteristic of the Malaysian market, which can significantly affect the information environment and analysts' reactions.Practical implicationsThe findings of this study provide useful empirical guidance to the regulators in evaluating the efficacy of recent regulatory initiatives. Investors may also gain useful insights from this study, specifically in recognising the crucial monitoring role played by institutional investors and how politically patronised firms are viewed unfavourably by equity analysts.Originality/valueThis study is one of the first to examine the joint influence of IIO and POC, on ASR.","PeriodicalId":45702,"journal":{"name":"Journal of Accounting in Emerging Economies","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2022-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45645994","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}

{"title":"The effect of IFRS adoption on accrual-based and real earnings management: emerging markets' perspective","authors":"D. Viana, I. Lourenço, Edilson Paulo","doi":"10.1108/jaee-05-2021-0172","DOIUrl":"https://doi.org/10.1108/jaee-05-2021-0172","url":null,"abstract":"PurposeThis study analyzes the effect of the mandatory adoption of the International Financial Reporting Standards (IFRS) on the level of both accruals-based (AEM) and real earnings management (REM) in a comprehensive sample of firms from emerging markets. It also analyzes whether this effect differs depending on the nature/extent of IFRS adoption (full versus modified).Design/methodology/approachSome previous studies predominantly made up of samples from developed countries suggest a substitution of AEM for REM in the post-IFRS period. The authors test whether this trade-off among the two earnings management strategies is also evident in emerging markets, based on a sample of 27,789 firm-year observations from 18 countries between 2000 and 2018.FindingsThe results suggest that IFRS adoption in emerging markets is associated with the replacement of REM by AEM, unlike previous overall evidence in developed countries where firms appear to do the opposite. The results also show that this replacement is lower in the emerging markets fully applying IFRS, when compared to those applying a modified version of these international standards.Practical implicationsPossibly due to the poor institutional environment of emerging markets, coupled with greater flexibility inherited of IFRS principles-based approach, the authors reiterate an imminent concern about IFRS encouraging substitution of REM for AEM in emerging countries, namely in those applying a modified version of IFRS.Originality/valueWhile the predominant IFRS literature in emerging markets remains focused on analyzing only single-country studies, promoting clearly mixed results, the authors enhance such discussion and foster this debate on a more international level by analyzing the joint effect of IFRS in 18 emerging markets and by comparing the effect of full and modified IFRS adoption.","PeriodicalId":45702,"journal":{"name":"Journal of Accounting in Emerging Economies","volume":null,"pages":null},"PeriodicalIF":2.3,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45278802","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}