Pacific Accounting Review最新文献

{"title":"What happens to the stock market during the COVID-19 pandemic? A systematic literature review","authors":"P. Anggraini, Evy Rahman Utami, E. Wulandari","doi":"10.1108/par-11-2021-0184","DOIUrl":"https://doi.org/10.1108/par-11-2021-0184","url":null,"abstract":"\u0000Purpose\u0000This study aims to evaluate papers that discuss the stock market during the COVID-19 pandemic to discover lessons that may be beneficial for coping with similar situations in the future.\u0000\u0000\u0000Design/methodology/approach\u0000This study used the review procedures following Hoque (2014) with modifications, including co-words analysis to map themes. The articles to be reviewed were identified by entering the search keywords “capital market” AND “Covid” and “stock market” AND “Covid” in the Scopus database. After applying a set of criteria, 89 articles were used in the subsequent analysis. The country setting and study findings are recognized, and the lessons learned are further determined.\u0000\u0000\u0000Findings\u0000As COVID-19 has been designated a global pandemic by the WHO, and its impact is seen in many countries, the setting adopted by many researchers includes two or more countries (i.e., “International”). Six clusters of themes are identified, namely, market responses, spillover/contagion, investor sentiment, investor herding, policy and asset intensity. In this way, the lessons gained cover several stock market elements, including the market, industry, investors, government and companies.\u0000\u0000\u0000Originality/value\u0000Given the importance of understanding the COVID-19 pandemic and the relevance of the stock market in indicating its severity, to the best of the authors’ knowledge, there has been no literature review research on the stock market during COVID-19. Furthermore, this study also defines what lessons can be drawn.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42637870","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":"Publishing literature reviews","authors":"Ahsan Habib","doi":"10.1108/par-02-2022-0024","DOIUrl":"https://doi.org/10.1108/par-02-2022-0024","url":null,"abstract":"\u0000Purpose\u0000The author discusses his views on writing good, structured literature reviews (SLRs), meta-analyses and bibliometric articles with the aim of encouraging the audience to engage with this research approach.\u0000\u0000\u0000Design/methodology/approach\u0000The author adopts a descriptive approach for sharing his views.\u0000\u0000\u0000Findings\u0000The author provides some examples where SLRs might be useful.\u0000\u0000\u0000Originality/value\u0000Although conducting SLRs is quite laborious, the eventual publication is highly rewarding both in terms of relatively high citation counts and of offering many early career researchers with a handy scholarly resource for initiating new research.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42643451","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":"Enhancing sustainability education in the accounting curriculum: an effective learning strategy","authors":"Umesh Sharma, Brody Stewart","doi":"10.1108/par-02-2021-0029","DOIUrl":"https://doi.org/10.1108/par-02-2021-0029","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This paper aims to examine the embedding of sustainability courses in the accounting curriculum by using the Delta Business School in New Zealand as an example. The focus of this paper is an effective learning strategy on sustainability education, which other business schools could follow using this approach.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>Each course’s published outline was subjected to an in-depth analysis. Semi-structured interviews were used to gather information from the course controllers and students.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The findings revealed that while some courses are considered stand-alone sustainability courses, others incorporate a technical focus on accounting as required by the professional accounting bodies: Chartered Accountants Australia and New Zealand, certified public accountant (Australia) and Association of Chartered Certified Accountants.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>The research is limited to sustainability education content at a single university.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>Students at tertiary education institutions, who will be future managers, are dependent on business schools to teach them the importance of sustainability.</p><!--/ Abstract__block -->\u0000<h3>Social implications</h3>\u0000<p>Sustainability education in accounting could be instrumental in transforming the nature and role of the accountant in society.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This paper contributes to the discussion required to understand how sustainability education is embedded within the accounting curriculum and the perceptions of lecturers and students with regard to sustainability education.</p><!--/ Abstract__block -->","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-02-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138518348","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":"Corporate environmental disclosure and local government environmental oversight in China","authors":"W. Qian, Ping Zhu, C. Tilt","doi":"10.1108/par-05-2020-0061","DOIUrl":"https://doi.org/10.1108/par-05-2020-0061","url":null,"abstract":"\u0000Purpose\u0000Recent research has drawn attention to the tension between the Central and local governments in China regarding their roles in environmental protection. This paper aims to explore this tension and examine the extent to which local/provincial government’s environmental oversight has influenced the quality of corporate environmental disclosure in China.\u0000\u0000\u0000Design/methodology/approach\u0000A sample of 198 listed companies in heavily polluting industries were selected to examine the relationship between their environmental disclosure quality and the respective local government’s environmental oversight level.\u0000\u0000\u0000Findings\u0000The results provide evidence that local/provincial government’s environmental oversight significantly influences environmental disclosure in China. Despite the coercive pressure from the powerful Central government on corporate environmental disclosure, local/provincial governments are able to buffer the pressure and adjust the intensity of their environmental oversight on companies during the implementation of central policies to retain local economic and political interests. This may partially explain the persistent issue of low environmental disclosure quality in China.\u0000\u0000\u0000Research limitations/implications\u0000This study enriches our understanding of the significant role of local governments in China in enhancing or sometimes discounting the regulatory enforcement of the Central government on corporate environmental disclosure, pointing to the need for concerted efforts by both local and Central governments to advance environmental disclosure development.\u0000\u0000\u0000Originality/value\u0000Research on environmental disclosure in developed countries has been well established in the literature. However, such research in developing nations is still limited, especially in China, the world largest developing country. The existing literature on environmental disclosure in China links it with either market demands, or regulatory enforcement from the Central government. The importance of local/provincial governments and their environmental oversight has long been ignored, which motivates this research.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44561933","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":"Potential barriers towards achieving greater diversity: the case of Pasifika underrepresentation in accounting","authors":"Peni Fukofuka, Irshad Ali","doi":"10.1108/par-06-2021-0103","DOIUrl":"https://doi.org/10.1108/par-06-2021-0103","url":null,"abstract":"\u0000Purpose\u0000This paper aims to provide a commentary on how the accelerated utilisation of online learning in accounting education could further impede Pasifika students from completing an accounting qualification, thus perpetuating Pasifika underrepresentation in accounting.\u0000\u0000\u0000Design/methodology/approach\u0000This commentary is based on the authors’ experiences and informal conversations with teaching colleagues and support staff. This paper uses Bourdieu’s (1977, 1990) theory of practice with a focus on his notion of symbolic violence to evaluate the challenges faced by Pasifika students in the learning of accounting.\u0000\u0000\u0000Findings\u0000The social world is inherently unfair, and this can be seen in the inequality that persists in various settings, one of which is in the accounting field. Acquiring an accounting degree requires studying accounting content, which is taught and assessed in a particular way. Unfortunately for the Pasifika learner, learning and assessment in accounting education are according to the demands and rules of the accounting field. These demands and rules, with the increased utilisation of online learning, are at odds with the Pasifika student’s habitus. Thus, Pasifika accounting students are likely to be disadvantaged by the increased utilisation of online learning. This could potentially exacerbate their underachievement in accounting education and prolong Pasifika underrepresentation in the accounting profession.\u0000\u0000\u0000Practical implications\u0000This paper contributes to teaching practice by bringing to the fore the potential of online learning as an additional impediment for Pasifika students in accounting education. This will help inform policymakers, tertiary institutions, accounting accreditation bodies, educators and support staff and could result in the formulation of suitable strategies to better support Pasifika students in online learning.\u0000\u0000\u0000Originality/value\u0000This paper is original and provides a critical analysis of how some groups in society will be disadvantaged by the increased utilisation of online learning in accounting education, thus further hindering the slow progress in achieving greater diversity in the accounting profession.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45700081","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 syndicate structure create value for initial public offerings? An empirical investigation for the Indian market","authors":"Seshadev Sahoo, Abhimanyu Sahoo","doi":"10.1108/par-01-2021-0003","DOIUrl":"https://doi.org/10.1108/par-01-2021-0003","url":null,"abstract":"\u0000Purpose\u0000This paper aims to investigate the impact of the underwriters’ syndicate size (SS) and its structure on underpricing (UP), oversubscription rate, liquidity and volatility. The authors use a database of 185 initial public offers (IPOs) issued in India during the period 2012–2019.\u0000\u0000\u0000Design/methodology/approach\u0000The authors have used ordinary least squares regression and stepwise regression on cross-sectional data to construct the regression model for the dependent variables under consideration, namely, UP, subscription rate (SUB), listing day volatility and listing day liquidity.\u0000\u0000\u0000Findings\u0000The authors find that larger syndicates reduce UP. The authors also find strong evidence of a larger subscription rate for IPOs managed by larger syndicates, suggesting that larger syndicates generate more information in the market. Looking into the composition of investment banks in the syndicate, the authors find that syndicates comprising more lead managers and comanagers attract a higher subscription from potential investors. More book running lead managers and nonmanaging syndicate members help increase liquidity and reduce the volatility of IPO stocks on listing day. Additionally, the authors find that larger firms with reputed lead managers establish larger syndicates while venture-affiliated IPO firms prefer a smaller syndicate.\u0000\u0000\u0000Practical implications\u0000The findings would interest issuing firms, investors, intermediaries and policymakers engaged in formulating syndicates for better management of IPOs.\u0000\u0000\u0000Originality/value\u0000The study extends the present literature on IPO syndicates, particularly in the Indian context as an emerging economy. The study extended the present understanding of SS and composition, creating value for the issuers.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46121629","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":"New technology and desired skills of early career accountants","authors":"Denise A Jackson, G. Michelson, Rahat Munir","doi":"10.1108/par-04-2021-0045","DOIUrl":"https://doi.org/10.1108/par-04-2021-0045","url":null,"abstract":"\u0000Purpose\u0000Technological advances have led to accounting roles shifting from transaction focussed tasks to using data generated by technology to inform stakeholder strategies, resulting in changing skill requirements. This study aims to investigate how early career accountants (ECAs) and organisations value different skills among ECAs, how technology is impacting on these skills and the preparedness of ECAs for future technological work in different organisational settings.\u0000\u0000\u0000Design/methodology/approach\u0000The research adopted a multi-stakeholder, mixed-method approach, surveying 315 ECAs and 175 managers/recruiters and interviewing 10 from each group. The sample drew from different industry sectors and organisation types in Australia, with all states represented.\u0000\u0000\u0000Findings\u0000There was broad agreement among ECAs and managers on requisite skills for technology. Most ECAs and managers believed new technology is influencing the skills required in accounting, yet the impact was considered greater among ECAs and effects varied by organisational setting. Overall, the research did not support ECAs as “digital natives” and illuminated the importance of exposure to technology, a change mindset and lifelong learning to better prepare them for new technology.\u0000\u0000\u0000Originality/value\u0000This study makes an important contribution to understanding how and why skills for success in accounting are evolving in the context of new technology and how prepared ECAs are for technology from both their own and managers/recruiters’ perspectives. It highlights the need for greater dialogue, benchmarking and evaluation of performance in technology-related skills among new accountants and their managers. Further, it identifies areas where ECAs would most benefit from targeted support, aiding personal career success and organisational competitiveness.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43220269","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":"Correlation between distribution of cash dividends from capital reserves, ultimate controlling shareholders and corporate governance","authors":"Yen-Yu Liu, Pin Lee, Chih-Hao Yang","doi":"10.1108/par-05-2021-0075","DOIUrl":"https://doi.org/10.1108/par-05-2021-0075","url":null,"abstract":"\u0000Purpose\u0000This study aims to discuss whether a new accounting policy can help enterprises withstand operating risks and whether corporate governance can play a supervisory role. Taiwan took the lead worldwide in allowing companies to distribute cash dividends from capital reserves. Compared with traditional cash dividends distributed from retained earnings, this move was aimed at maintaining the stability of cash dividends and helping listed companies address the risks of temporary downturns. However, the distribution of cash dividends from capital reserves may violate the principle of capital maintenance and damage creditors’ equity. The authors sought to examine whether corporate governance could play a supervisory role.\u0000\u0000\u0000Design/methodology/approach\u0000The present study targeted Taiwanese listed companies and cited data from the Taiwan Economic Journal. The study period was from 2011–2019. The authors tested the hypotheses using the least square method.\u0000\u0000\u0000Findings\u0000The results showed that ultimate controlling shareholders of listed companies can maximize their own interests through ownership arrangements, whereas corporate governance cannot play a supervisory role nor protect creditors’ equity. The findings provide insight on whether, in the development process of corporate governance, appropriate measures are taken to protect creditors’ equity in addition to shareholders’ equity, or achieve a good coordination of interests among all stakeholders.\u0000\u0000\u0000Originality/value\u0000The ultimate controlling shareholders or directors of a listed company would seek to maximize their own interests, and transfer the operating risks to creditors through the arrangement of dividend policy, thus harming creditors’ equity. However, independent directors cannot play a supervisory role. The authors inferred that corporate governance standards previously focused on the shareholder level or alleviation of the agency problem between controlling shareholders and non-controlling shareholders but ignored creditors’ equity.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46443127","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 international work experience, functional background and career concerns on CEO investment decisions","authors":"C. Peng, S. Chiu","doi":"10.1108/par-02-2021-0026","DOIUrl":"https://doi.org/10.1108/par-02-2021-0026","url":null,"abstract":"\u0000Purpose\u0000The purpose of this paper is to investigate the effects of chief executive officer (CEO) international work experience, functional background and career concerns on managerially-distorted investment decisions.\u0000\u0000\u0000Design/methodology/approach\u0000This paper focuses on S&P 500 publicly held US manufacturing companies during the period from 2009 to 2012. The data related to the CEOs’ international experience and their functional background experience are manually collected from Business Week’s Corporate Elite. Financial data is retrieved from COMPUSTAT database. The data for CEO tenure and age are retrieved from the ExecuComp database. Besides ordinary least squares regression, this paper conducts two-stage least squares regression analysis. Endogeneity and additional tests are also considered in this paper.\u0000\u0000\u0000Findings\u0000The findings show that CEO international work experience may not reduce under-investment, but it may exacerbate over-investment. CEO throughput functional background may exacerbate under-investment, but it may not reduce over-investment. Furthermore, CEO career concerns are useful in reducing the inefficient investments caused by international work experience and throughput functional background. These results remain similar when potential self-selection bias, as well as alternative measures of career concerns and investment efficiency, are considered.\u0000\u0000\u0000Originality/value\u0000This paper contributes to the existing literature in the following ways: first, while a significant amount of attention has been paid to how investment decisions are affected by financial reporting quality and material internal control weaknesses, there has been little evidence accumulated related to how managers’ international experience, professional background and career concerns affect investment inefficiency. The authors attempt to fill this gap. Second, the authors manually collect the international experience and functional backgrounds of CEOs working for S&P 500 US manufacturing companies. This unique data set makes it possible to complement previous studies by investigating the effects of managerial international experience and functional background on investment behavior. Finally, previous theoretical studies have long recognized that managers’ career concerns affect their corporate investment decisions. These studies suggest that young CEOs have a greater incentive to signal their abilities by adopting more active and possibly riskier investment strategies, thus raising the moral hazard problem with regard to firm investments. The authors enrich these studies by showing that work experience alleviates the moral hazard problem with respect to young CEOs’ investment decisions.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42660536","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":"Changes in the effect of corporate tax avoidance on the cost of debt over the past 25 years","authors":"Sungsil Lee","doi":"10.1108/par-03-2021-0031","DOIUrl":"https://doi.org/10.1108/par-03-2021-0031","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to examine how the effect of corporate tax avoidance on the cost of debt has changed in the period 1993–2017. Although it is known that tax avoidance has significantly increased during this period (Dyreng <em>et al.</em>, 2017), little evidence exists on how this change alters the effect of tax avoidance on the cost of debt. This study investigates how changes in tax avoidance modify the association between tax avoidance and the cost of debt.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>By using a comprehensive sample of 15,825 loan facilities issued to US public firms in the period 1993–2017, this study tests the time-series changes in the association between tax avoidance and the cost of debt.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>This study finds that a positive association between tax avoidance and the cost of debt has been declined over the past 25 years. Accordingly, tax avoidance in general no longer increases the loan spread after the enactment of domestic production activities deduction. However, the risker end of tax avoidance does still increase the loan spread.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study spotlights the time-series changes in the effect of corporate tax avoidance on the cost of debt, showing how lenders perception on corporate tax avoidance has altered in accordance with changes in corporate tax practice.</p><!--/ Abstract__block -->","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138518334","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}