Journal of International Financial Management & Accounting最新文献_第5页

Corporate Social Responsibility (CSR) and Firm Value: International Evidence on the Role of CSR Assurance 企业社会责任与企业价值：关于企业社会责任鉴证作用的国际证据

IF 8.2 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2025-02-14 DOI: 10.1111/jifm.12234

Ahrum Choi, Lan Jin, Zabihollah Rezaee, Gaoguang Zhou

引用次数: 0

Recognition Versus Disclosure and Managerial Discretion: Evidence From Japanese Pension Accounting 确认、披露与管理自由裁量权：来自日本养老金会计的证据

IF 8.2 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2025-02-12 DOI: 10.1111/jifm.12232

Masaki Kusano

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Social Media Sentiment and Classification Shifting 社交媒体情感与分类转移

IF 8.2 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2025-02-12 DOI: 10.1111/jifm.12233

Peng Wu, Yiyang Gu, Liya Hou

{"title":"Social Media Sentiment and Classification Shifting","authors":"Peng Wu, Yiyang Gu, Liya Hou","doi":"10.1111/jifm.12233","DOIUrl":"https://doi.org/10.1111/jifm.12233","url":null,"abstract":"<div>\u0000 \u0000 <p>This study investigates the role of social media sentiment in classification shifting. Prior literature finds that social media can either reduce accruals management by reducing information asymmetry or increase it by raising market expectations. Using a sample of 21,635 firm-year observations based on data from Chinese A-share listed firms from 2009 to 2020, we examine how social media sentiment from the stock forum EastMoney affects classification shifting in China. We find that managers increase classification shifting in response to negative social media sentiment, and our channel tests support the market pressure hypothesis. We confirm that negative social media sentiment increases classification shifting by exerting greater market pressure on managers. We also find that, if accruals or real earnings management is constrained, firms resort to classification shifting to address negative social media sentiment. Finally, we show that negative social media sentiment triggers more stock volatility and price drops. Our study contributes to the earnings management literature by providing novel evidence that sheds light on the market pressure exerted by social media in shaping earnings management strategies.</p>\u0000 </div>","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"36 3","pages":"468-501"},"PeriodicalIF":8.2,"publicationDate":"2025-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145038012","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Analyst Responses to Changes in Credit Risk 分析师对信用风险变化的反应

IF 8.2 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2025-02-03 DOI: 10.1111/jifm.12231

Abinzano Isabel, Corredor Pilar, Martinez Beatriz

引用次数: 0

Political Ideology Shapes Reporting Regulation: SEC Commissioners' Views on IFRS for US Issuers 政治意识形态影响报告监管：美国证券交易委员会委员对美国发行人的国际财务报告准则的看法

IF 8.2 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2025-01-31 DOI: 10.1111/jifm.12230

Kirstin Becker, Holger Daske, Christoph Pelger, Stephen A. Zeff

{"title":"Political Ideology Shapes Reporting Regulation: SEC Commissioners' Views on IFRS for US Issuers","authors":"Kirstin Becker, Holger Daske, Christoph Pelger, Stephen A. Zeff","doi":"10.1111/jifm.12230","DOIUrl":"https://doi.org/10.1111/jifm.12230","url":null,"abstract":"<p>The Securities and Exchange Commission (SEC) initiated rulemaking steps toward adopting International Financial Reporting Standards (IFRS) for US issuers in 2007, but it never issued a final decision. In this paper, we use public material and interviews to examine the links between commissioners' political ideology and their views on IFRS. We find that differences in political ideologies pervaded the debate on IFRS. In line with their belief in the advantages of “free markets,” Republican commissioners supported a move to IFRS, particularly in the form of giving US firms a choice between US GAAP and IFRS. Democratic commissioners were more reluctant to partly or fully replace the well-established system of US GAAP with IFRS, a step that was considered tantamount to deregulation and accompanied by concerns about the International Accounting Standards Board's governance. Our findings highlight the influence of political ideology on the regulatory process related to reporting issues. Thus, bipartisan rulemaking becomes unlikely in times of pronounced political confrontations, as recently evidenced by the SEC's rule on climate-related disclosures.</p>","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"36 3","pages":"404-414"},"PeriodicalIF":8.2,"publicationDate":"2025-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jifm.12230","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145038520","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Provincial Industrial Policy and Corporate Emissions: Evidence From China 省级产业政策与企业排放：来自中国的证据

IF 8.2 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2025-01-31 DOI: 10.1111/jifm.12229

Nan Lin, Shuping Lin, Pengdong Zhang, Qihao Zhang

{"title":"Provincial Industrial Policy and Corporate Emissions: Evidence From China","authors":"Nan Lin, Shuping Lin, Pengdong Zhang, Qihao Zhang","doi":"10.1111/jifm.12229","DOIUrl":"https://doi.org/10.1111/jifm.12229","url":null,"abstract":"<div>\u0000 \u0000 <p>Industrial policy plays a crucial role in economic development and is gaining increasing attention. While previous literature has demonstrated the positive impact of these policies on economic and industrial growth, their environmental impact remains unclear. Using establishment-level data, we investigate how Chinese provincial industrial policies affect corporate pollution levels. We find that establishments encouraged by provincial industrial policies exhibit significantly higher sulfur dioxide (SO<sub>2</sub>) emissions. This effect is mainly driven by: (1) lower risks of environmental penalties, (2) increased use of cost-effective but polluting energy sources, and (3) reduced investments in environmental technologies. The impact of provincial industrial policies on a firm's emissions is more pronounced under certain conditions: when local governments face substantial economic pressures; when government officials are locally promoted or have a high probability of political promotion; when firms are economically important or state-owned; when firms lack rigorous external oversight; and when firms operate in environments with higher citizen environmental participation. Our findings suggest that industrial policies aimed at rapid economic growth may conflict with environmental goals, providing insights for policymakers on balancing economic development and environmental protection in emerging economies.</p>\u0000 </div>","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"36 3","pages":"375-403"},"PeriodicalIF":8.2,"publicationDate":"2025-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145038497","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

How Does State-Controlling Shareholders Affect Corporate Tax Avoidance? 国有控股股东如何影响企业避税？

IF 9.4 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2025-01-21 DOI: 10.1111/jifm.12228

Huiting Lin, Yurun He, Maolin Wang, Jiazheng Zhang

{"title":"How Does State-Controlling Shareholders Affect Corporate Tax Avoidance?","authors":"Huiting Lin, Yurun He, Maolin Wang, Jiazheng Zhang","doi":"10.1111/jifm.12228","DOIUrl":"https://doi.org/10.1111/jifm.12228","url":null,"abstract":"<div>\u0000 \u0000 <p>This paper examines the influence of state-controlling shareholders on the tax avoidance behavior of listed Chinese state-owned enterprises (CSOEs). Using a data set comprising 14,645 firm-year observations from 2003 to 2022, we find that subsidiaries significantly reduce tax avoidance when state-controlling shareholders are required to remit gains to the government under the State-owned Capital Gains Handover System. Following the reform, these subsidiaries also experience declines in cash holdings and financial performance. We attribute these outcomes to increased shifting pressure from controlling shareholders and motivation to meet performance evaluations. Additional analyses reveal that this effect is more pronounced in firms with lower separation between ownership and control, weaker financing constraints, higher operational risks, and stronger internal controls. Furthermore, we observe that most cash flows are diverted through connected transactions. Finally, our findings indicate that subsidiaries that fail to adjust their aggressive tax practices after the reform face declines in firm value. By highlighting the pivotal role of state-controlling shareholders in shaping corporate tax strategies, this study contributes to the literature on state ownership, corporate governance, and tax avoidance.</p>\u0000 </div>","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"36 2","pages":"346-367"},"PeriodicalIF":9.4,"publicationDate":"2025-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143944962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Local Happiness and Executive Compensation 地方幸福感与高管薪酬

IF 9.4 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2025-01-17 DOI: 10.1111/jifm.12225

Zilong Song, Wenwen Zhang, Rixin Liang, Xu Sun

{"title":"Local Happiness and Executive Compensation","authors":"Zilong Song, Wenwen Zhang, Rixin Liang, Xu Sun","doi":"10.1111/jifm.12225","DOIUrl":"https://doi.org/10.1111/jifm.12225","url":null,"abstract":"<div>\u0000 \u0000 <p>How does happiness—an important nonmonetary benefit—affect executives' monetary compensation? Although previous studies have shown that some nonmonetary benefits—such as living quality, air pollution, and corporate social recognition—significantly affect managerial compensation, little is known about the impact of happiness on executive pay. Using a sample of Chinese companies from the year 2008 to 2021, we analyze happiness data at the city level to explore the relationship between happiness and corporate executive compensation. The results show that local happiness is significantly and negatively related to executive compensation. This finding remains robust when analyzed using alternative measures of variables and different estimation methods and when controlled for endogeneity concerns. We also document that executive needs and talent migration are channels through which happiness affects executive compensation. The additional heterogeneity analyses reveal that the negative relationship between happiness and executive compensation is more pronounced if a firm has strong bargaining power or is not state-owned. The findings in this study highlight the importance of nonmonetary incentives in designing executive compensation packages and motivating executives.</p>\u0000 <p>Clinical trial registration: This article does not address clinical trials.</p>\u0000 </div>","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"36 2","pages":"323-345"},"PeriodicalIF":9.4,"publicationDate":"2025-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143944979","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

ESG Performance, Environmental Uncertainty, and Firm Risk

IF 9.4 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2025-01-14 DOI: 10.1111/jifm.12227

Ethan Xin Liu, Yuan Song

{"title":"ESG Performance, Environmental Uncertainty, and Firm Risk","authors":"Ethan Xin Liu, Yuan Song","doi":"10.1111/jifm.12227","DOIUrl":"https://doi.org/10.1111/jifm.12227","url":null,"abstract":"<div>\u0000 \u0000 <p>The growing concern over sustainable development has raised critical questions about the role of environmental, social, and governance (ESG) performance in shaping organizational outcomes. While prior research underscores the importance of ESG, there is limited understanding of its impact on firm risk, particularly under varying levels of environmental uncertainty. Using a data set of 9201 observations from Chinese listed companies on the Shanghai and Shenzhen Stock Exchanges from 2006 to 2022, this study investigates how ESG performance influences firm risk and the moderating effect of environmental uncertainty. Our findings reveal that ESG performance reduces firm risk by lowering environmental penalties, easing financing constraints, enhancing corporate reputation, and improving access to government subsidies. Additionally, environmental uncertainty strengthens the negative impact of ESG performance on firm risk. These results highlight the critical role of ESG performance in mitigating corporate risk and offer practical implications for firms, investors, and policymakers seeking to align corporate strategies with sustainable economic development goals.</p></div>","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"36 2","pages":"292-322"},"PeriodicalIF":9.4,"publicationDate":"2025-01-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143944582","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

CEOs With a Financial Background and Corporate Risk-Taking 具有金融背景的首席执行官与企业风险承担

IF 9.4 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2025-01-10 DOI: 10.1111/jifm.12226

Dianlong Wei, Chunhua Luo, Jinjing Lu

{"title":"CEOs With a Financial Background and Corporate Risk-Taking","authors":"Dianlong Wei, Chunhua Luo, Jinjing Lu","doi":"10.1111/jifm.12226","DOIUrl":"https://doi.org/10.1111/jifm.12226","url":null,"abstract":"<div>\u0000 \u0000 <p>This study assesses the effect of CEOs' financial background characteristics on corporate risk-taking. Although previous studies have extensively examined how CEOs' financial background characteristics influence firm behavior, few have focused on their effects on corporate risk-taking. Using a sample of 26,084 firm-year observations of 3468 listed firms in China between 2008 and 2020, we examine whether CEOs' background characteristics, particularly having a financial background, affect corporate risk-taking. We find that a CEO with a financial background tends to adopt higher levels of corporate risk-taking. Moreover, our findings suggest that these CEOs increase corporate risk-taking by alleviating financing constraints, fostering the integration of industrial and financial capital, and promoting the financialization of enterprises. Overall, our findings contribute to the literature on the relationship between executives' financial backgrounds and corporate risk-taking by offering insights from the perspective of CEOs' experience. These results have important implications for firms in terms of executive selection, management team optimization, and fostering greater integration between industry and finance.</p>\u0000 </div>","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"36 2","pages":"266-291"},"PeriodicalIF":9.4,"publicationDate":"2025-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143944740","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0