Journal of International Financial Management & Accounting最新文献_第9页

An analysis of Dow 30 global core indicator disclosures and environmental, social, and governance-related ratings 道琼斯30指数全球核心指标披露及环境、社会和治理相关评级分析

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2020-09-09 DOI: 10.1111/jifm.12123

Christopher G. Calvin, Donna L. Street

{"title":"An analysis of Dow 30 global core indicator disclosures and environmental, social, and governance-related ratings","authors":"Christopher G. Calvin, Donna L. Street","doi":"10.1111/jifm.12123","DOIUrl":"https://doi.org/10.1111/jifm.12123","url":null,"abstract":"We examine the extent to which US Dow 30 companies disclose the Global Core Indicators (GCIs), which are measures to assess companies’ contribution toward the United Nation’s 2030 Agenda for Sustainable Development. We find that the Dow 30 are generally compliant with disclosing GCIs that align with US capital market reporting expectations, high-profile current events, and issues that are financially relevant. We also find the Dow 30 are more likely to disclose institutional and economic issues, rather than environmental and social issues, and note disclosure variation across industries in which the Dow 30 operate. Supplemental analyses indicate that GCI disclosure levels are generally higher when those GCIs are associated with financially relevant ESG issues, suggesting companies are more amenable to addressing sustainability when doing so aligns with their mandate to shareholders. Correlation analyses reveal that the GCI indices moderately or strongly correlate with two of three MSCI sustainability ratings, highlighting companies’ focus on financially relevant areas, and weakly correlate with companies’ CDP climate change ratings, highlighting the limited scope of the GCIs in capturing detailed environmentally focused sustainability efforts. We also show that the MSCI sustainability ratings of the Dow 30 have generally trended higher over time, with increases driven by companies in the manufacturing, financial, and retail industries. Our findings help fill a void in sustainability literature on US company reporting of the GCIs and may be informative to the United Nations Conference on Trade and Development as it reviews the GCIs in support of the 2030 Agenda.","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"31 3","pages":"323-349"},"PeriodicalIF":5.1,"publicationDate":"2020-09-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jifm.12123","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72145809","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: 9

Analyst following, disclosure quality, and discretionary impairments: Evidence from China 分析师追随、披露质量和可自由支配减值：来自中国的证据

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2020-08-28 DOI: 10.1111/jifm.12120

Ling Jiang

{"title":"Analyst following, disclosure quality, and discretionary impairments: Evidence from China","authors":"Ling Jiang","doi":"10.1111/jifm.12120","DOIUrl":"https://doi.org/10.1111/jifm.12120","url":null,"abstract":"Financial statement preparers’ discretion in fair value measurements is integral to asset impairment accounting. Firms may misuse this discretion to report more or less impairment loss than is warranted by underlying economic circumstances. Using data from a sample of publicly listed firms in China, this study finds that analyst following reduces abnormal impairment loss, the portion of reported impairment loss that cannot be explained by corporate economic circumstances and that this effect is more pronounced for firms with lower information disclosure quality. However, the reducing effects of analyst following and its interaction with disclosure quality are greater for income-decreasing than for income-increasing abnormal impairment loss. Additional analyses support the argument that these differences are attributable to the dominance of accounting’s contracting role over its informational role. Overall, the findings indicate that the influence of analyst following on discretionary impairment accounting decisions is moderated by disclosure quality and by the relative importance of accounting’s contracting and informational roles in an emerging market setting.","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"31 3","pages":"295-322"},"PeriodicalIF":5.1,"publicationDate":"2020-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jifm.12120","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72167391","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

Cultural and macroeconomic determinants of cash holdings management 现金持有管理的文化和宏观经济决定因素

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2020-08-18 DOI: 10.1111/jifm.12121

Svetlana V. Orlova

引用次数: 10

Corporate financial distress: The case of publicly listed firms in an emerging market economy 企业财务困境:新兴市场经济中上市公司的案例

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2020-08-15 DOI: 10.1111/jifm.12122

Regina M. Lizares, Carlos C. Bautista

引用次数: 12

Can governance help in making an IPO “successful”? New evidence from Europe 治理能帮助IPO“成功”吗？来自欧洲的新证据

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2020-03-15 DOI: 10.1111/jifm.12116

Marina Brogi, Valentina Lagasio, Valerio Pesic

引用次数: 8

The perceived financial effects of mandatory audit firm rotation 强制性审计公司轮换的财务影响

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2020-01-28 DOI: 10.1111/jifm.12115

Michael Harber, Ben Marx, Phillip De Jager

{"title":"The perceived financial effects of mandatory audit firm rotation","authors":"Michael Harber, Ben Marx, Phillip De Jager","doi":"10.1111/jifm.12115","DOIUrl":"https://doi.org/10.1111/jifm.12115","url":null,"abstract":"This paper explores the perceptions of key audit industry stakeholders concerning the direct and indirect financial effects of the implementation of mandatory audit firm rotation (MAFR) in South Africa. Globally, concerns over audit quality, in response to corporate failures, have resulted in renewed debate over MAFR as a solution. The European Union and South Africa have recently ruled in its favor, while other countries have rejected it on grounds that the benefits do not exceed the costs. Using structured surveys, the informed perspectives of experienced auditors, chief financial officers, audit committee chairs, and equity fund managers are explored and contrasted. We find that considerable costs will be imposed on audit firms in the form of “setup and transition costs,” as well as costs incurred to submit and present competitive tenders to secure appointment. Although auditors will try to recoup these costs with fee increases, this will likely not be allowed by the clients, resulting in a squeeze of audit firm profits. The Big 4 firm fee premium, relative to non-Big 4 firms, will decrease due to increased competition. From the clients' perspective, the costs will be in the form of audit inefficiency translating into staff time and disruption, caused by the incoming auditors being less familiar with the complexities of the business. We contribute to the literature detailed descriptions and estimations of the nature and extent of potential cost implications, as expressed by experienced practitioners. The findings inform audit industry regulators, standard-setters, and practitioners to more effectively mitigate potential unintended consequences of the regulation.","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"31 2","pages":"215-234"},"PeriodicalIF":5.1,"publicationDate":"2020-01-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jifm.12115","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72167627","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: 14

How do the ownership structure and board of directors' features impact earnings management? The Spanish case† 股权结构和董事会特征如何影响盈余管理？西班牙案例†

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2020-01-07 DOI: 10.1111/jifm.12114

Paolo Saona, Laura Muro, María Alvarado

{"title":"How do the ownership structure and board of directors' features impact earnings management? The Spanish case†","authors":"Paolo Saona, Laura Muro, María Alvarado","doi":"10.1111/jifm.12114","DOIUrl":"https://doi.org/10.1111/jifm.12114","url":null,"abstract":"This paper examines how the ownership structure and board of directors' features determine the managerial opportunistic behavior exemplified in the management of accounting earnings. This study contributes to the literature by investigating the relationship of firm-level and country-level corporate governance systems on the earnings management in the Spanish corporate sector. Results reveal that the varying efficiency of the corporate governance systems is reflected in the way in which accounting discretion is performed. We found evidence that earnings management is reduced as the voting rights of the controlling shareholder increased and that there is an inverse U-shaped relationship between insiders' ownership and the earnings manipulation. Regarding the board characteristics, we observe that larger, independent boards, those with a larger proportion of female members, and those with an audit committee compounded by a greater proportion of outside independent directors oversee managers more efficiently, constraining their capacity to manage earnings. To the contrary, board duality increases the likelihood of opportunistic manipulation of financial reporting. We found that when the institutional environment improves in the Spanish context, the discretionary power of the corporate sector to overstate the financial statements is reduced. The findings prove the necessity of reinforcing the rules and regulations toward a more transparent disclosure of the financial statements.","PeriodicalId":46659,"journal":{"name":"Journal of International Financial Management & Accounting","volume":"31 1","pages":"98-133"},"PeriodicalIF":5.1,"publicationDate":"2020-01-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1111/jifm.12114","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72142566","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: 93

Integrated reporting and cost of capital: The moderating role of cultural dimensions 综合报告和资本成本：文化层面的调节作用

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2019-12-17 DOI: 10.1111/jifm.12113

Luigi Vena, Salvatore Sciascia, Alessandro Cortesi

引用次数: 39

The impact of accounting reform on accounting quality: Evidence from Nigeria 会计改革对会计质量的影响——来自尼日利亚的证据

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2019-11-28 DOI: 10.1111/jifm.12112

Zayyad Abdul-Baki, Roszaini Haniffa

引用次数: 7

Financial analyst coverage for U.S. firms facing foreign competition: Evidence from trade liberalization 金融分析师对面临外国竞争的美国公司的报道：来自贸易自由化的证据

IF 5.1 3区管理学

Journal of International Financial Management & Accounting Pub Date : 2019-11-25 DOI: 10.1111/jifm.12111

Dongyoung Lee, He Wen

引用次数: 5