Pacific Accounting Review最新文献

{"title":"Empirical examination of the direct and moderating role of corporate social responsibility in top executive compensation","authors":"M. Malik, E. D. Shim","doi":"10.1108/par-09-2021-0162","DOIUrl":"https://doi.org/10.1108/par-09-2021-0162","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to examine the direct association between firms’ corporate social responsibility (CSR) scores, CSR disclosures and executive compensation. This study further investigates the moderating role of CSR in the association between executive compensation and firms’ stock market and accounting performances.\u0000\u0000\u0000Design/methodology/approach\u0000This study collects CEO compensation information from the Execucomp database and CSR performance information from the MSCI ESG database. The final sample consists of 4,193 firm-year observations for 1,318 US public firms for the period 2009–2013. This study uses lagged regression analysis to test the direct and moderating roles of CSR in executive compensation.\u0000\u0000\u0000Findings\u0000Regarding the direct role of CSR, this study finds that CEO compensation is positively related to CSR performance but not to firms’ issuance of CSR reports. This study also finds a positive moderating role of CSR in the relationship between CEO compensation and firms’ stock performance. However, the authors do not identify any role for CSR in the relationship between CEO compensation and accounting performance. The results also show a negative association of CSR in the relationship between CEO compensation and firm size.\u0000\u0000\u0000Originality/value\u0000This study fills a gap in the literature by providing empirical evidence on the direct association between CSR and CEO compensation and how the association between CEO compensation and firm performance is moderated by CSR scores. The novel findings of this study will benefit managers, boards of directors, shareholders and other stakeholders, including regulators and policymakers.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48200760","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":"Disclosed qualitative factors and underpricing: an empirical evidence from Indian IPO market","authors":"Seshadev Sahoo, Rishita Raj","doi":"10.1108/par-06-2021-0098","DOIUrl":"https://doi.org/10.1108/par-06-2021-0098","url":null,"abstract":"\u0000Purpose\u0000The academic research into underpricing of initial public offerings (IPOs) offers many explanations, i.e. signalling, financial and market hypothesis. However, another set of information, namely, “Qualitative Factors” (along with financial and others), are largely reported by the issuing firms in the prospectus. However, to the best of the authors’ knowledge no such systematic study has been carried out on how firms’ qualitative factors impact the IPO valuation. This paper aims to addresses this gap.\u0000\u0000\u0000Design/methodology/approach\u0000Using a sample of 82 IPOs issued from 2014 to 2020, we investigate the issuing firm’s pattern of reporting qualitative factors. These qualitative factors are subjected to factor analysis. The authors classify all reported factors across firms into a few categories using principal component analysis. The authors also investigate the impact of these factors on IPO underpricing using OLS regression.\u0000\u0000\u0000Findings\u0000The authors find that the qualitative information relating to market leadership, established brand image and modern scalable information technology infrastructure significantly influences underpricing. The authors also document that market leadership and brand image are the influential reported quality factors that reduce underpricing. Moreover, location advantage, good customer relationship, established relationship with a client, track record of growth and profitability, experienced promoter and management team failed to influence underpricing.\u0000\u0000\u0000Originality/value\u0000The outcome of this piece of research offers additional signalling as an attestation of quality for the issue. The authors further argue that the amount of qualitative information disclosed by the managers in the prospectus to support the pricing should not be ignored.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47108709","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 transformation to data analytics in Big-Four financial audit: what, why and how?","authors":"Angela Liew, P. Boxall, Denny Setiawan","doi":"10.1108/par-06-2021-0105","DOIUrl":"https://doi.org/10.1108/par-06-2021-0105","url":null,"abstract":"\u0000Purpose\u0000This study aims to explore the implementation of data analytics in the Big-Four accounting firms, including the extent to which a digital transformation is changing the work of financial auditors, why it is doing so and how these firms are managing the transformation process.\u0000\u0000\u0000Design/methodology/approach\u0000The authors conducted 23 interviews with 20 participants across four hierarchical levels from three of the Big-Four accounting firms in New Zealand.\u0000\u0000\u0000Findings\u0000The firms have entered the era of “smart audit systems”, in which auditors provide deep business insights that are communicated more effectively through data visualisation. The full potential, however, of data analytics depends not only on the transformation process within accounting firms but also on improvement in the quality of IT systems in client companies. The appointment of transformation managers, the recruitment of technology-savvy graduates and the provision of extensive training are helping to embed data analytics in the Big-Four firms. Accounting graduates in financial audit now need to show that they have the aptitude to become “citizen data scientists”.\u0000\u0000\u0000Practical implications\u0000The findings explain how data analytics is being embraced in the Big-Four auditing firms and underline the implications for those who work in them.\u0000\u0000\u0000Originality/value\u0000The findings challenge the “technological reluctance” thesis. In contrast, the authors observe a climate of positive attitudes towards new technology and accompanying actions in the Big-Four firms. The authors show how branches of the Big-Four firms operating distantly from their global headquarters, and with smaller economies of scale, are implementing the new technologies that characterise their global firms.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47108193","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 snapshot of sustainability assurance market in New Zealand","authors":"Pei-Chi Kelly Hsiao, Tom Scott, Zeting Zang","doi":"10.1108/par-08-2021-0142","DOIUrl":"https://doi.org/10.1108/par-08-2021-0142","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to provide a snapshot of voluntary sustainability assurance in New Zealand (NZ) in 2020. we assess the frequency of different assurance elements and discuss aspects of current practices that potentially contribute to the audit expectation gap. we also test whether the determinants of voluntary sustainability assurance in NZ are consistent with international findings.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>For 118 companies listed on the New Zealand Stock Exchange in 2020, we hand collected data on whether sustainability information was assured, subject matter assured, assurance level, outcome, provider, disclosure of detailed procedures, standard referenced and criteria applied. we then examine the influences of voluntary sustainability assurance using both univariate and regression analysis.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>Approximately 20% of listed companies that disclosed sustainability information provide a sustainability assurance report, indicating low levels of assurance compared to international practices. we note that the presence of different forms of assurance and certification, placement of sustainability information before financial statements and the associated audit report and mixture of assurance levels potentially contribute to the audit expectation gap. Further, voluntary sustainability assurance practices are diverse, and there are notable differences between Big Four accounting firms and other providers in terms of assurance level and standard referenced. Consistent with prior studies, we find size and industry classification as two main drivers of voluntary sustainability assurance.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>We contribute NZ-specific insights to the sustainability assurance literature. The findings on voluntary sustainability assurance practices and reflection on the audit expectation gap are timely and relevant to the new climate-related disclosure mandate and pending assurance requirements.</p><!--/ Abstract__block -->","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138518305","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":"Transforming assessment in accounting education to align with online learning","authors":"Irshad Ali, A. Narayan, Dilani Gedera","doi":"10.1108/par-05-2021-0058","DOIUrl":"https://doi.org/10.1108/par-05-2021-0058","url":null,"abstract":"\u0000Purpose\u0000The aim of this paper is to provide insights into challenges and opportunities in transforming assessment of learning in accounting education from established practices to technology-based methods. 10; 10;\u0000\u0000\u0000Design/methodology/approach\u0000This reflective commentary is based on personal reflections and experiences of three senior academics from the same university on the accelerated utilisation of online assessment in accounting education due to COVID-19. Further information was obtained from document analysis, informal conversations with colleagues and observations.\u0000\u0000\u0000Findings\u0000The findings of this paper suggest that despite numerous challenges, online assessments may replace traditional face-to-face assessments such as tests and exams in accounting and if done properly, this could drive significant improvements in student learning and outcomes. Institutions need to invest in appropriate technology, provide appropriate staff training and ensure good online assessment design that incorporates principles of authenticity and fairness. Robust online assessment practices need to be integrated with e-proctoring systems to ensure academic integrity is upheld.\u0000\u0000\u0000Practical implications\u0000The paper provides functional insights to higher education management, teaching staff and other stakeholders such as professional accreditation bodies on challenges and opportunities in utilising online assessments. It offers guidance to educators on transforming assessment of learning using the power of technology.\u0000\u0000\u0000Originality/value\u0000The ideas in this paper are original. The paper shares our lived experiences in transforming established assessment practices in accounting courses to align with online teaching and learning due to COVID-19.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44561852","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 impact of ownership structure and corporate governance on energy intensity: evidence from Indian business groups","authors":"Nemiraja Jadiyappa, Emmy Hickman, Namrata Saikia","doi":"10.1108/par-05-2021-0078","DOIUrl":"https://doi.org/10.1108/par-05-2021-0078","url":null,"abstract":"\u0000Purpose\u0000Energy efficiency is critical for global sustainability (International Energy Agency, 2019). The purpose of this paper is to examine how agency conflicts arising from pyramidal ownership structures impact the energy intensity (EI) of group-affiliated Indian firms. Group-affiliated firms face unique governance challenges. For instance, parent owners (promoters) may transfer profits from one group-affiliated firm to another firm in which they have greater ownership. The authors hypothesize that such governance issues will lead to underinvestment in energy-saving projects among group firms in which promoters have a low ownership stake, resulting in their greater EI.\u0000\u0000\u0000Design/methodology/approach\u0000The authors measure EI as the ratio of total energy expense to total sales revenue (EI) and as the industry-adjusted version of this ratio. Group-affiliated Indian firms are divided into high- and low-stake firms based on the sample’s median promoter ownership.\u0000\u0000\u0000Findings\u0000Results support the authors’ prediction: group firms in which promoters have low ownership are more energy intensive, consistent with these firms being exposed to greater governance challenges and agency conflicts that result in operating inefficiencies and/or underinvestment in energy-saving projects.\u0000\u0000\u0000Practical implications\u0000Given energy efficiency will be key in addressing climate change, this study could raise awareness among activists, motivate regulators to consider agency problems among group-affiliated firms in emerging markets and may underscore the importance of environmental-related corporate disclosures.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this study is the first to identify the significant impact that firm ownership structure and associated governance challenges have on corporate EI.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45172067","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":"User perceptions of cloud-based small business accounting software","authors":"Jemmi Mauricette, Paul K. Wells, J. Haar","doi":"10.1108/par-05-2021-0065","DOIUrl":"https://doi.org/10.1108/par-05-2021-0065","url":null,"abstract":"\u0000Purpose\u0000This study aims to identify the variables which influence user perceptions of cloud-based small business accounting software.\u0000\u0000\u0000Design/methodology/approach\u0000This study used the end-user computing satisfaction (EUCS) model developed by Doll and Torkzadeh. Responses to open-ended questions informed these findings.\u0000\u0000\u0000Findings\u0000The findings from this study suggest that user satisfaction and perceived effectiveness were more strongly influenced by content and accuracy than the variables format, ease of use and timeliness.\u0000\u0000\u0000Research limitations/implications\u0000There were a small number of participants (122) from a single city in New Zealand evaluating a single software application.\u0000\u0000\u0000Practical implications\u0000Given the increased availability and range of accounting applications for small business, these findings help explain factors which might influence software selection decisions. This study also provides a platform for researchers to extend this research to other cloud-based accounting software applications in their academic research. These findings may also provide software developers with functionality suggestions to be included in future software development.\u0000\u0000\u0000Social implications\u0000These findings identify the perceived importance of the factors used to evaluate cloud-base accounting software.\u0000\u0000\u0000Originality/value\u0000There has been very little research undertaken to identify factors which influence user perceptions of cloud-based accounting software using a structured EUCS framework.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45805680","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":"Quality of voluntary modern slavery disclosures: top Australian listed companies","authors":"K. Rao, R. Burritt, K. Christ","doi":"10.1108/par-07-2021-0117","DOIUrl":"https://doi.org/10.1108/par-07-2021-0117","url":null,"abstract":"\u0000Purpose\u0000There is a growing concern over the need for greater transparency of quality information by companies about modern slavery to contribute toward elimination of the practice. Hence, this paper aims to examine factors behind the quality of voluntary modern slavery disclosures and major sources of pressure on Australian company disclosures in a premodern slavery legislated environment.\u0000\u0000\u0000Design/methodology/approach\u0000Content analysis and cross- sectional regression modeling are conducted to analyze factors determining the quality of voluntary modern slavery disclosures of the top 100 firms listed on the Australian Stock Exchange and their implications for institutional pressures.\u0000\u0000\u0000Findings\u0000Results indicate that size, assurance by Big-4 firms and publication of stand-alone modern slavery statements are significant drivers of disclosure quality in the sample. Profitability, listing status and the degree of internationalization are found to be unrelated to the quality of voluntary modern slavery disclosures. Industry classification is significant but only partly supports the prediction, and further investigation is recommended.\u0000\u0000\u0000Practical implications\u0000This paper provides a foundation for regulators and companies toward improving the quality of their modern slavery risk disclosures with a particular focus on prior experience, assurance and size. In practice, contrary to suggestions in the literature, results indicate that monetary penalties are unlikely to be an effective means for improving the quality of modern slavery disclosure. Results of the study provide evidence of poor quality of disclosures and the need for improvement, prior to introduction of modern slavery legislation in Australia in 2018. It also confirms that regulation to improve transparency, through the required publication of a modern slavery statement, is significant but not enough on its own to increase disclosure quality.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this is the first research examining company level factors with an impact on voluntary modern slavery disclosure quality and the links to institutional pressures, prior to the introduction of the Commonwealth Modern Slavery Act 2018.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46033948","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":"Implementing environmental protection tax in China: an alternative framework","authors":"W. Cai, M. Bai, H. Davey","doi":"10.1108/par-02-2021-0021","DOIUrl":"https://doi.org/10.1108/par-02-2021-0021","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to better understand the nexus between environmental taxes and other environmental management systems (EMSs) and to propose an alternative framework for implementing environmental protection tax (EPT) in China.\u0000\u0000\u0000Design/methodology/approach\u0000The study uses a multimethod approach encompassing document analysis and comparative analysis. The archival data covers laws, reports, regulations, guidelines and standards related to the EPT and EMS sub-systems in China.\u0000\u0000\u0000Findings\u0000The study identifies several institutional features of environmental taxes that have not been fully explored in past tax research. In addition, the study reveals that information-sharing mechanisms are key to addressing the risks and uncertainties associated with the implementation of an environmental tax and that the mechanisms are grounded in the nexus among EPT and two EMS sub-systems.\u0000\u0000\u0000Research limitations/implications\u0000The findings of this study have implications for the understanding of China’s environmental tax system, the Environmental Impact Assessment system and the pollutants discharge permit (PDP) system. The construction of an alternative framework provides insights for approaches to environmental taxation. A limitation of this study is that the application of the framework might be undermined by the inaccurate manual sampling, as some pollutants may be non-replicable.\u0000\u0000\u0000Practical implications\u0000The findings of this study are relevant to policymakers who are designing, improving or abandoning environmental taxes for alternate solutions to environmental issues.\u0000\u0000\u0000Social implications\u0000The insights gained from this study may be of assistance to lower the risks and uncertainties associated with the implementation of an environmental tax.\u0000\u0000\u0000Originality/value\u0000The study contributes to approaches to environmental taxes by constructing an alternative framework that connects an environmental tax system with two EMSs. The framework lays the groundwork for some promising research opportunities. Additionally, the study extends the tax accounting literature (Hanlon and Heitzman, 2010) by connecting accounting and environmental knowledge and developing a transdisciplinary approach. The study also contributes to the emerging body of literature that addresses the challenges in implementing environmental taxes in China.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47409590","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":"Does top management team’s job mobility experience matter for corporate innovation?","authors":"Jing Jia, Zhongtian Li, Yuanyuan Hu, Baoshan Tao","doi":"10.1108/par-04-2021-0051","DOIUrl":"https://doi.org/10.1108/par-04-2021-0051","url":null,"abstract":"Purpose\u0000This study aims to investigate whether top management team (TMT)’s job mobility experience is related to firm innovation.\u0000\u0000\u0000Design/methodology/approach\u0000The authors use different strategies, including a two-stage instrumental model, difference-in-differences analysis based on TMT members’ sudden deaths, propensity score matching and firm fixed-effects model, to mitigate endogeneity concerns.\u0000\u0000\u0000Findings\u0000The authors find that firms whose TMT experienced more job mobility have better firm innovation. In addition, the authors reveal that the job mobility experience is positively related to engagement in explorative innovation strategies that generate new knowledge. The findings are robust to a battery of tests to alleviate potential endogeneity concerns. Overall, the results highlight the role of job mobility experience in influencing firm innovation.\u0000\u0000\u0000Originality/value\u0000This study contributes to the rising literature on the determinants of firm innovation. By showing the TMT’s job mobility experience is related to innovation, the authors expand the literature about the economic consequences of the heterogeneous TMT characteristics. Given that firm innovation is essential to competitive advantage, the results should be of interest to a range of stakeholders, including investors, directors and managers and policymakers.","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44878415","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}