发布求助
文献互助 智能选刊 最新文献

Asia-Pacific Journal of Accounting & Economics最新文献

筛选
英文 中文
Re-examining the NED effect on firm financial performance: the impact and interplay of NED capital and NED equity incentives 重新审视NED对公司财务绩效的影响:NED资本和NED股权激励的影响和相互作用
IF 1.1 4区 经济学
Asia-Pacific Journal of Accounting & Economics Pub Date : 2021-05-22 DOI: 10.1080/16081625.2021.1929356
Tien Nguyen, J. Shields, M. Westcott
{"title":"Re-examining the NED effect on firm financial performance: the impact and interplay of NED capital and NED equity incentives","authors":"Tien Nguyen, J. Shields, M. Westcott","doi":"10.1080/16081625.2021.1929356","DOIUrl":"https://doi.org/10.1080/16081625.2021.1929356","url":null,"abstract":"ABSTRACT Drawing on propositions from Hillman and Dalziel’s pioneering 2003 articulation of Board Capital Theory, this paper investigates the interaction between NED externally-derived capital (proxied by multi-factor capital breadth and focal industry capital depth), internally-derived capital (proxied by tenure overlap), and their equity ownership in the focal firm in influencing firm accounting and stock market performance, measured respectively by ROE and Tobin’s Q. Our analysis on a dynamic panel data comprised of the top ASX 213 companies from 2008 to 2012 shows that NED external capital breadth and depth both strongly predict ROE and Tobin’s Q. Further, we find that equity holding strengthens the impact of NED external capital depth on Tobin’s Q, whereas internally-derived capital interacts with NED external capital breadth to increase Tobin’s Q, but also with NED external capital depth to reduce ROE. These findings carry both confirmatory and revisionary implications for theory, research and corporate governance practice.","PeriodicalId":45890,"journal":{"name":"Asia-Pacific Journal of Accounting & Economics","volume":"41 1","pages":"1390 - 1416"},"PeriodicalIF":1.1,"publicationDate":"2021-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78826049","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Insider trade clustering and large variations in stock prices: evidence from the Korean market 内幕交易集群与股价大幅波动:来自韩国市场的证据
IF 1.1 4区 经济学
Asia-Pacific Journal of Accounting & Economics Pub Date : 2021-04-28 DOI: 10.1080/16081625.2021.1915166
Soon-hong Park, Byungkwon Lim
{"title":"Insider trade clustering and large variations in stock prices: evidence from the Korean market","authors":"Soon-hong Park, Byungkwon Lim","doi":"10.1080/16081625.2021.1915166","DOIUrl":"https://doi.org/10.1080/16081625.2021.1915166","url":null,"abstract":"ABSTRACT This paper examines whether insider trade clustering is associated with large stock return variations (i.e. crash or jump risk) in Korea. To investigate private information of insider trade clustering, we separate insider trade clustering into sale clusters and purchase clusters and then document whether trading behavior of insider sale (purchase) clusters is related to the likelihood of a crash (jump). We find that insider sale clusters which occurred over the past month of a crash are strongly related to the information flowed over a short period of time. However, we find that insider purchase clusters are less associated with the likelihood of a jump. Our results provide empirical evidence that insiders share negative information and insider sale clusters contain robust short-lived information. Overall, our findings suggest that insider trade clustering, in particular insider sale clusters, results from agency problems.","PeriodicalId":45890,"journal":{"name":"Asia-Pacific Journal of Accounting & Economics","volume":"15 1","pages":"1368 - 1389"},"PeriodicalIF":1.1,"publicationDate":"2021-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82036499","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","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 financial literacy on rural households insurance participation: evidence from farmers in southwest China 金融素养对农户保险参与的影响:来自西南地区农民的证据
IF 1.1 4区 经济学
Asia-Pacific Journal of Accounting & Economics Pub Date : 2021-04-14 DOI: 10.1080/16081625.2021.1915165
Wenzhen Liu, Bin Wang, Chuan-Chao Wang, Kefei Han
{"title":"The effect of financial literacy on rural households insurance participation: evidence from farmers in southwest China","authors":"Wenzhen Liu, Bin Wang, Chuan-Chao Wang, Kefei Han","doi":"10.1080/16081625.2021.1915165","DOIUrl":"https://doi.org/10.1080/16081625.2021.1915165","url":null,"abstract":"ABSTRACT This paper analyses the insurance participation of farmers from the perspective of financial literacy. The results suggest that financial literacy can significantly accelerate the participation of farmers in insurance and the types of participation. In addition, when the farmer is female, highly educated, or younger, financial literacy has a greater effect on the participation of insurance than the male, the low educated, or the older. Meanwhile, when the subjective financial literacy of farmers is consistent with the objective’, it is also stronger for the influence of financial literacy on insurance participation and types of insurance participation.","PeriodicalId":45890,"journal":{"name":"Asia-Pacific Journal of Accounting & Economics","volume":"27 1","pages":"139 - 155"},"PeriodicalIF":1.1,"publicationDate":"2021-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81593231","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Strategic decisions of a multi-product firm under Bertrand competition 伯特兰竞争下多产品企业的战略决策
IF 1.1 4区 经济学
Asia-Pacific Journal of Accounting & Economics Pub Date : 2021-04-07 DOI: 10.1080/16081625.2021.1910049
Hui-Ling Chung, Hung‐Yi Chen, Yan-Shu Lin
{"title":"Strategic decisions of a multi-product firm under Bertrand competition","authors":"Hui-Ling Chung, Hung‐Yi Chen, Yan-Shu Lin","doi":"10.1080/16081625.2021.1910049","DOIUrl":"https://doi.org/10.1080/16081625.2021.1910049","url":null,"abstract":"ABSTRACT This research examines three strategies that a multi-product firm can adopt when facing a single-product entrant under Bertrand competition: (i) staying in the duopoly market, (ii) abandoning the duopoly market, and (iii) bundling the two goods. When the competing good is homogenous, bundling is the most profitable strategy if the product differentiation of the two goods produced by the multi-product firm is not too high. When the competing good is heterogeneous, the preferred strategy of the multi-product firm and the welfare ranking depend on the substitutability of the competing good and the degree of product differentiation between the two goods.","PeriodicalId":45890,"journal":{"name":"Asia-Pacific Journal of Accounting & Economics","volume":"35 1","pages":"1 - 13"},"PeriodicalIF":1.1,"publicationDate":"2021-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91171395","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Internal audit findings, audit committees, and firm performance evidence from UK 来自英国的内部审计发现、审计委员会和公司绩效证据
IF 1.1 4区 经济学
Asia-Pacific Journal of Accounting & Economics Pub Date : 2021-04-04 DOI: 10.1080/16081625.2021.1908153
Abdulaziz Alzeban
{"title":"Internal audit findings, audit committees, and firm performance evidence from UK","authors":"Abdulaziz Alzeban","doi":"10.1080/16081625.2021.1908153","DOIUrl":"https://doi.org/10.1080/16081625.2021.1908153","url":null,"abstract":"ABSTRACT Although researchers have paid increasing attention to how corporate governance influences firm performance, there has been limited focus on how the internal audit function impacts firm performance. This study thus examines how the implementation of internal audit recommendations (IIAR) impacts firm performance and whether audit committee characteristics increase or decrease this impact. By using the proportion of implemented recommendations over the total number of internal audit findings to measure IIAR, the results indicate that IIAR drives higher firm performance. Further, certain audit committee characteristics increase the positive effect of IIAR on firm performance. Additional robustness tests support the main results.","PeriodicalId":45890,"journal":{"name":"Asia-Pacific Journal of Accounting & Economics","volume":"9 1","pages":"868 - 889"},"PeriodicalIF":1.1,"publicationDate":"2021-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85707370","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
Pilot CEOs and tax avoidance: evidence from machine learning methods 试点ceo和避税:来自机器学习方法的证据
IF 1.1 4区 经济学
Asia-Pacific Journal of Accounting & Economics Pub Date : 2021-04-01 DOI: 10.1080/16081625.2021.1908154
Long Liu, Hongkang Xu, Mai Dao, Hua Sun
{"title":"Pilot CEOs and tax avoidance: evidence from machine learning methods","authors":"Long Liu, Hongkang Xu, Mai Dao, Hua Sun","doi":"10.1080/16081625.2021.1908154","DOIUrl":"https://doi.org/10.1080/16081625.2021.1908154","url":null,"abstract":"ABSTRACT Chief executive officers (CEOs) could use tax avoidance to reduce costs and hence increase firm profits. Nevertheless, the reputation of the firm could be harmed. Prior studies find that firms’ tax avoidance is associated with CEOs’ personality traits. We attempt to predict firms’ engagement in tax avoidance using CEOs’ flying hobby measured by the pilot certificate. Using various advanced machine learning methods, we find that CEOs’ hobby of flying airplanes is significantly associated with increased corporate tax avoidance. In particular, we find CEOs with a student, private, or airline transport pilot certificate are more likely to engage in corporate tax avoidance while CEOs with a commercial pilot certificate are less likely to engage in corporate tax avoidance. This study advances prior literature and helps investors, regulators, and policymakers to predict firms’ tax avoidance strategies using executives’ hobby.","PeriodicalId":45890,"journal":{"name":"Asia-Pacific Journal of Accounting & Economics","volume":"65 1","pages":"14 - 29"},"PeriodicalIF":1.1,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74659876","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Executive extraversion and voluntary disclosure: evidence from management earnings forecasts 高管外向性与自愿披露:来自管理层盈余预测的证据
IF 1.1 4区 经济学
Asia-Pacific Journal of Accounting & Economics Pub Date : 2021-03-17 DOI: 10.1080/16081625.2021.1947859
Chih-Hsien Liao, Ziyao San, Albert H. C. Tsang, Miao Yu
{"title":"Executive extraversion and voluntary disclosure: evidence from management earnings forecasts","authors":"Chih-Hsien Liao, Ziyao San, Albert H. C. Tsang, Miao Yu","doi":"10.1080/16081625.2021.1947859","DOIUrl":"https://doi.org/10.1080/16081625.2021.1947859","url":null,"abstract":"ABSTRACT In this study we examine whether and how extravert key executives in firms affect the provision of management earnings forecasts and the associated stock market reactions. We provide evidence that firms with extraverted chief financial officers (CFOs) tend to issue more earnings forecasts, earnings forecasts with a higher level of disaggregation, and earnings forecasts accompanied by supplementary information. However, earnings forecasts issued by extraverted CFOs are also less timely, less accurate, and more optimistic. Further analyses show that investors tend to react more strongly to earnings forecasts issued by firms with extraverted CFOs. Our findings therefore suggest that although earnings forecasts issued by extraverted CFOs are not necessarily of better quality, the stock market reactions associated with such forecasts are generally positive.","PeriodicalId":45890,"journal":{"name":"Asia-Pacific Journal of Accounting & Economics","volume":"1 1","pages":"56 - 71"},"PeriodicalIF":1.1,"publicationDate":"2021-03-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89129645","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Board of directors and earnings management: conventional and Islamic banks 董事会和盈余管理:传统银行和伊斯兰银行
IF 1.1 4区 经济学
Asia-Pacific Journal of Accounting & Economics Pub Date : 2021-03-02 DOI: 10.1080/16081625.2021.1886951
Ahmad Abu-Dawleh, N. Lybaert, Tensie Steijvers, Mieke Jans
{"title":"Board of directors and earnings management: conventional and Islamic banks","authors":"Ahmad Abu-Dawleh, N. Lybaert, Tensie Steijvers, Mieke Jans","doi":"10.1080/16081625.2021.1886951","DOIUrl":"https://doi.org/10.1080/16081625.2021.1886951","url":null,"abstract":"ABSTRACT This study examines how the board of directors (BOD) of Islamic banks (IBs) might affect earnings management differently, compared to BOD of conventional banks (CBs). Our results indicate that banks in the MENA region that promote BOD independence incur less earnings management. Distinguishing between CBs and IBs, we document higher loan quality and credit policy at IBs. Moreover, smaller BOD size and board independence decrease earnings management at IBs. Findings suggest that agency theory might not accommodate the agency conflicts at IBs, since it neglects stakeholders’ behavioural patterns. Thus, these results suggest the need to shape directors’ financial acumen at IBs.","PeriodicalId":45890,"journal":{"name":"Asia-Pacific Journal of Accounting & Economics","volume":"1 1","pages":"1640 - 1656"},"PeriodicalIF":1.1,"publicationDate":"2021-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89938200","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Do insiders facing pledging risks make risky corporate investments? Evidence from Chinese M&As 面临质押风险的内部人士是否会进行高风险的公司投资?来自中国并购的证据
IF 1.1 4区 经济学
Asia-Pacific Journal of Accounting & Economics Pub Date : 2021-02-21 DOI: 10.1080/16081625.2021.1887747
Qingquan Tang, Jingjing Guo, Shiyun Zeng
{"title":"Do insiders facing pledging risks make risky corporate investments? Evidence from Chinese M&As","authors":"Qingquan Tang, Jingjing Guo, Shiyun Zeng","doi":"10.1080/16081625.2021.1887747","DOIUrl":"https://doi.org/10.1080/16081625.2021.1887747","url":null,"abstract":"ABSTRACT Prior studies find that insiders facing pledging risks pass up risky projects to preserve their private benefits of control. However, we find that firms with controlling shareholders’ share pledges (CSSP) tend to initiate mergers and acquisitions (M&As), which signal good news and prevent the stock price from falling. This phenomenon is more pronounced in non-state-owned enterprises (non-SOEs) and firms with negative market responses on the announcement date of share pledges. Additionally, due to cost control considerations, a firm with CSSP will choose small-size targets and complete M&As in a short time. Nevertheless, the long-term performance of such M&As is worse.","PeriodicalId":45890,"journal":{"name":"Asia-Pacific Journal of Accounting & Economics","volume":"37 1","pages":"354 - 372"},"PeriodicalIF":1.1,"publicationDate":"2021-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78344384","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Market-based Financing Reforms and Shareholder Valuations: event Study Evidence from the Chinese Sci-Technology Innovation Board 市场化融资改革与股东估值:来自中国科创板的事件研究证据
IF 1.1 4区 经济学
Asia-Pacific Journal of Accounting & Economics Pub Date : 2021-02-20 DOI: 10.1080/16081625.2021.1886950
Yaohua Qin, He Xiao
{"title":"Market-based Financing Reforms and Shareholder Valuations: event Study Evidence from the Chinese Sci-Technology Innovation Board","authors":"Yaohua Qin, He Xiao","doi":"10.1080/16081625.2021.1886950","DOIUrl":"https://doi.org/10.1080/16081625.2021.1886950","url":null,"abstract":"ABSTRACT In this study, the impact of the newly introduced sci-technology innovation board (STAR) on stock valuations in China is examined. Two key event dates are addressed, the STAR guideline announcement date and applicants’ prospectus release dates. The results suggest a positive market reaction of relevant listed firms. The difference-in-differences (DID) results for the first event show a reduction in the bid-ask spreads of high-tech firms, as the new policy attracts more analyst research, particularly in-depth research. The DID results for the second event indicate that the information asymmetry for ownership-related listed firms decreases compared to firms within the same industries.","PeriodicalId":45890,"journal":{"name":"Asia-Pacific Journal of Accounting & Economics","volume":"2 1","pages":"172 - 195"},"PeriodicalIF":1.1,"publicationDate":"2021-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87789976","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
首页 上一页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信