Journal of International Financial Management & Accounting最新文献_第8页

Impact of pay disparities between chief executive officers and chief financial officers on corporate financial and investment policies 首席执行官和首席财务官之间的薪酬差距对公司财务和投资政策的影响

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2021-11-12 DOI: 10.1111/jifm.12142

Feng Han, Xin Che, Enya He

引用次数: 2

The impact of catholic religion on earnings management: A case of Poland 天主教对盈余管理的影响:以波兰为例

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2021-11-01 DOI: 10.1111/jifm.12141

Konrad Grabiński, Piotr Wójtowicz

{"title":"The impact of catholic religion on earnings management: A case of Poland","authors":"Konrad Grabiński, Piotr Wójtowicz","doi":"10.1111/jifm.12141","DOIUrl":"10.1111/jifm.12141","url":null,"abstract":"This paper investigated the impact of religiosity on accrual and real earnings management. Unlike most previous studies which consider this issue in a multi-religious setting, we use a mono-religious setting, specifically Poland where the Roman Catholic Church holds a dominant position. Thus, we are able to study the impact of religiosity on earnings management ignoring the impact of different religious denominations magnified by cultural factors. Our study focuses on the impact the Catholic religion has on earnings management. A novelty of this study is our proxy for religiosity. We use the communicantes ratio applicable only to Catholic and Orthodox denominations. This study contributes to the literature by providing a broader picture of the impact of religiosity on earnings management. Based on a sample of Polish companies, we find that Catholicism positively (negatively) influences the level of accrual (real) earnings management. We carefully examine the issue of differences between religiosity and personal faith and highlight the problems related to selecting a proxy for religiosity. The results indicate that a firm's preferred earnings management strategy depends heavily on the values shared by the national community. The majority of previous studies find that religiosity has a negative (positive) impact on accrual (real) earnings management. We provide empirical evidence that this is not always the case. There exists a setting in which the impact of religiosity is opposite, and the mechanisms through which religiosity influences earnings management are much more complicated than what was previously assumed.","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"33 1","pages":"18-56"},"PeriodicalIF":5.1,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jifm.12141","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42332531","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: 13

IFRS 9 and its behavior in the cycle: The evidence on EU countries IFRS 9及其在周期中的行为:来自欧盟国家的证据

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2021-09-09 DOI: 10.1111/jifm.12140

Oľga Pastiranová, Jiří Witzany

{"title":"IFRS 9 and its behavior in the cycle: The evidence on EU countries","authors":"Oľga Pastiranová, Jiří Witzany","doi":"10.1111/jifm.12140","DOIUrl":"10.1111/jifm.12140","url":null,"abstract":"The purpose of this paper is to analyze empirically the behavior of expected loan loss provisions during the economic cycle. The provisioning rules under IFRS 9 require the creation of reserves to cover expected credit losses, were anticipated to act countercyclically, and thus replaced the rules under IAS 39, which are widely presumed to have a procyclical impact. Observing the dynamics of the economic cycle during the economic downturn resulting from the COVID restrictions, a panel regression was performed to test the hypothesis that loan loss provisioning rules under IFRS 9 have a procyclical impact. The hypothesis was not rejected on the basis of a sample of the member countries of the European Union for the period of 1Q 2015 – 3Q 2020. Since the conclusions about procyclicality of loan loss provisions under IFRS 9 might be sensitive to the choice of models applied by the banks or to the assumptions applied to forward-looking information used in the models, there are certain areas that supervisory and regulatory authorities might look into to increase the quality of ECL models and their predictive power and help to eliminate potential triggers of procyclicality.","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"33 1","pages":"5-17"},"PeriodicalIF":5.1,"publicationDate":"2021-09-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jifm.12140","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41698297","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: 6

Voluntary disclosure of Sustainable Development Goals in mandatory non-financial reports: The moderating role of cultural dimension 强制性非财务报告中可持续发展目标的自愿披露:文化维度的调节作用

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2021-08-16 DOI: 10.1111/jifm.12139

Simone Pizzi, Mara Del Baldo, Fabio Caputo, Andrea Venturelli

{"title":"Voluntary disclosure of Sustainable Development Goals in mandatory non-financial reports: The moderating role of cultural dimension","authors":"Simone Pizzi, Mara Del Baldo, Fabio Caputo, Andrea Venturelli","doi":"10.1111/jifm.12139","DOIUrl":"10.1111/jifm.12139","url":null,"abstract":"The Directive 2014/95/EU represents one of the main innovations introduced by the European Commission to encourage large companies to disclose their contribution to sustainable development. Since its introduction, the Directive 2014/95/EU has put into motion an intense debate about its effectiveness. Academics and policymakers agreed on the need to rethink mandatory non-financial reporting to enhance the contribution to the 2030 Agenda. In fact, despite a quantitative increase in the overall number of non-financial reports published yearly in Europe, only a limited number of companies explicitly disclose information about their contribution to the SDGs. In this sense, the disclosure of information about SDGs is driven by factors related to institutional and organizational dynamics. Building on a sample of 873 Public Interest Entities, an empirical analysis was conducted to fill the theoretical gap about the enabling role covered by cultural factors on SDG reporting. The analysis revealed that companies operating in institutional contexts characterized by long-term orientation and an adequate degree of balance between indulgence and restraints are more oriented to disclose their contributions to the SDGs. Our insights underlined the need to consider cultural dimensions in policymaking and standard-setting to encourage large companies to voluntarily disclose their contribution to 2030 Agenda.","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"33 1","pages":"83-106"},"PeriodicalIF":5.1,"publicationDate":"2021-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jifm.12139","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45759831","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: 71

The effect of female presence on corporate boards of directors on the value relevance of accounting amounts: empirical evidence from the European Union 女性在公司董事会任职对会计金额价值相关性的影响：来自欧盟的经验证据

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2021-08-08 DOI: 10.1111/jifm.12138

Riccardo Cimini

{"title":"The effect of female presence on corporate boards of directors on the value relevance of accounting amounts: empirical evidence from the European Union","authors":"Riccardo Cimini","doi":"10.1111/jifm.12138","DOIUrl":"10.1111/jifm.12138","url":null,"abstract":"This paper investigates the ability of female presence to affect value relevance. Focusing on a sample of 487 entities listed in 18 European countries over the period 2009–2017, it uses a price model to assess the ability of female presence to affect the value relevance of earnings and book value disclosed in the consolidated annual reports of the firms analyzed. Findings offer evidence that female presence on corporate boards increases the value relevance of accounting amounts, providing insights that board composition affects investors’ judgments. Taking into account that in the literature scholars have shown that female presence is associated with market prices, this paper provides a contribution, showing its ability to affect the value relevance of earnings and book value of equity. The research findings suggest that not only the quality of accounting standards but also other factors such as female presence on the corporate board of directors affect accounting practices and, in turn, the quality of financial reporting and value relevance. Its findings offer an additional support to the European Union Gender Equality Strategy 2020–2025 according to which an increase in women's participation in the labor market has a strong, positive impact on the whole economy.","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"33 1","pages":"134-153"},"PeriodicalIF":5.1,"publicationDate":"2021-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jifm.12138","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44532019","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: 15

Large bank shareholders and terms of bank loans during the global financial crisis 在全球金融危机期间，大银行股东和银行贷款条款

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2021-06-25 DOI: 10.1111/jifm.12137

Celia Álvarez-Botas, Carlos Fernández-Méndez, Víctor M. González

引用次数: 6

Accruals mispricing versus risk: Analyzing the influence of external monitoring in Brazil 应计项目错定价与风险:分析巴西外部监测的影响

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2021-06-23 DOI: 10.1111/jifm.12136

Vinícius Gomes Martins, Márcio André Veras Machado, Paulo Aguiar do Monte

{"title":"Accruals mispricing versus risk: Analyzing the influence of external monitoring in Brazil","authors":"Vinícius Gomes Martins, Márcio André Veras Machado, Paulo Aguiar do Monte","doi":"10.1111/jifm.12136","DOIUrl":"10.1111/jifm.12136","url":null,"abstract":"In this paper, we examine the role of external monitoring as an alternative mechanism of corporate governance pertaining to the risk and mispricing of accruals in the Brazilian market. The results provide evidence of the accruals anomaly for companies with low external monitoring and evidence that is stronger when evaluating the discretionary component of accruals. Our analysis does not support the conclusion that total and discretionary accruals represent price risk factors, which suggests that the evidence of anomaly results from mispricing. Our evidence contributes to the growing literature on accruals pricing in emerging markets, by adding elements such as the influence of external monitoring and the level of investor sophistication, hereby represented by market analysts and institutional investors. Our study provides additional evidence that the presence of these intermediary agents creates an external layer of control capable of contributing positively to the process of disclosure and pricing of financial information. Thus, the role of such intermediaries as external monitors in emerging markets can be potentially significant for correctly pricing accruals. While Brazil has its own unique institutional characteristics, our findings confirm the evidence obtained for other countries.","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"32 3","pages":"259-282"},"PeriodicalIF":5.1,"publicationDate":"2021-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jifm.12136","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41326410","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: 4

The combined effects of innovation and corporate social responsibility on firm financial risk 创新与企业社会责任对企业财务风险的共同影响

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2021-06-21 DOI: 10.1111/jifm.12135

Bai Liu, Tao Ju, Simon S.S. Gao

{"title":"The combined effects of innovation and corporate social responsibility on firm financial risk","authors":"Bai Liu, Tao Ju, Simon S.S. Gao","doi":"10.1111/jifm.12135","DOIUrl":"10.1111/jifm.12135","url":null,"abstract":"Prior literature has largely dealt with the effect of either corporate social responsibility (CSR) or innovation on firm financial risk. No earlier research has examined the combined effect of a firm's simultaneous pursuit of CSR and innovation on firm financial risk. This study investigates the combined effects with a view to fostering our understanding of relationships of CSR and innovation with financial risk. Using the patent application and CSR data of 2,174 Chinese listed firms over the period 2010–2016, this study finds that firms with higher levels of imitative innovation and good CSR performance exhibit higher financial risk. The results remain after a series of robustness tests including the use of an alternative measure of firm financial risk and CSR. The results indicate that firms with a higher level of imitative innovation exhibit greater financial risk; however, the risk cannot be mitigated by firms' good CSR performance. CSR performance helps firms boost the positive image of a “good citizen” and reduce firm financial risk; however, the combined effects of CSR and imitative innovation trigger higher financial risk. The results of this study support the umbrella theory of CSR that exacerbates the moral hazard for those firms that rely on imitative innovation.","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"32 3","pages":"283-310"},"PeriodicalIF":5.1,"publicationDate":"2021-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jifm.12135","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48133975","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: 35

Exploring nonlinear linkage between profitability and leverage: US multinational versus domestic corporations 探讨盈利能力与杠杆之间的非线性联系:美国跨国公司与国内公司

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2021-06-11 DOI: 10.1111/jifm.12134

Faisal Alnori

引用次数: 3

Joint venture investments: An analysis of the level of compliance with the disclosure requirements of IFRS 12 合资企业投资：符合《国际财务报告准则》第12号披露要求的程度分析

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2021-05-01 DOI: 10.1111/jifm.12130

Raquel Wille Sarquis, Ariovaldo dos Santos, Isabel Lourenço, Guillermo Oscar Braunbeck

{"title":"Joint venture investments: An analysis of the level of compliance with the disclosure requirements of IFRS 12","authors":"Raquel Wille Sarquis, Ariovaldo dos Santos, Isabel Lourenço, Guillermo Oscar Braunbeck","doi":"10.1111/jifm.12130","DOIUrl":"https://doi.org/10.1111/jifm.12130","url":null,"abstract":"This study provides empirical evidence on changes in entities’ reporting of interests in joint ventures from proportionate consolidation to the equity method following adoption of IFRS 11 and their application of the corresponding IFRS 12 disclosure requirements. The sample includes 551 firms from 26 countries affected by the adoption of IFRS 11 (1,858 financial statements). The findings indicate that many firms are not fully complying with IFRS 12 disclosure requirements and that firm-level characteristics (e.g., size, leverage, and ownership concentration) contribute more to explaining the level of (non)compliance, when compared to country-level variables (e.g., legal system and emerging versus developed countries). We also find that the level of materiality of joint ventures is positively associated with the level of compliance with IFRS 12 disclosure requirements. Our results contribute to the literature on the determinants of compliance with IFRS Standards disclosure requirements and bring important insights for the post-implementation review of IFRS 11 and IFRS 12 occurring between 2020 and 2022.","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"32 2","pages":"207-232"},"PeriodicalIF":5.1,"publicationDate":"2021-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jifm.12130","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72297894","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: 8