Journal of Contemporary Accounting & Economics最新文献_第10页

Policy and oversight of corporate political activities and the cost of equity capital 公司政治活动和权益资本成本的政策和监督

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2022-08-01 DOI: 10.1016/j.jcae.2022.100314

Christofer Adrian , Mukesh Garg , Anh Viet Pham , Soon-Yeow Phang , Cameron Truong

{"title":"Policy and oversight of corporate political activities and the cost of equity capital","authors":"Christofer Adrian , Mukesh Garg , Anh Viet Pham , Soon-Yeow Phang , Cameron Truong","doi":"10.1016/j.jcae.2022.100314","DOIUrl":"10.1016/j.jcae.2022.100314","url":null,"abstract":"<div><p>This paper investigates the effect of voluntary adoption and disclosure of policies/oversight of corporate political activities/spending on the cost of equity capital for S&P 500 firms over the period 2015–2018. Using the CPA-Zicklin Index to measure the level of policies, oversight, and disclosure of corporate political activities, we find that firms with a greater level of policies and oversight enjoy a lower cost of equity capital. We also document that a higher index is associated with higher stock liquidity. The negative relation is more pronounced among firms with higher exposure to political risk and firms with higher dependence on government spending. We also find that a firm’s information environment plays an important role in moderating the relation between policies and oversight of corporate political activities and the cost of equity capital. Our findings suggest that voluntary adoption and disclosure of policies and oversight mitigates risks and uncertainties related to firms’ political activities, thereby reducing information asymmetry and the cost of equity capital.</p></div>","PeriodicalId":46693,"journal":{"name":"Journal of Contemporary Accounting & Economics","volume":"18 2","pages":"Article 100314"},"PeriodicalIF":3.3,"publicationDate":"2022-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125302678","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: 1

Role of corporate governance in moderating the risk-return paradox: Cross country evidence 公司治理在调节风险收益悖论中的作用:跨国证据

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2022-08-01 DOI: 10.1016/j.jcae.2022.100313

Ranjan DasGupta , Soumya G. Deb

引用次数: 0

Debt contracting and the goodwill debate 债务合同和商誉之争

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2022-08-01 DOI: 10.1016/j.jcae.2022.100316

Chandrani Chatterjee , Arpita A. Shroff , K. Sivaramakrishnan

{"title":"Debt contracting and the goodwill debate","authors":"Chandrani Chatterjee , Arpita A. Shroff , K. Sivaramakrishnan","doi":"10.1016/j.jcae.2022.100316","DOIUrl":"10.1016/j.jcae.2022.100316","url":null,"abstract":"<div><p>Extant literature offers mixed evidence on the quality of goodwill after the promulgation of SFAS 141/2 (Li and Sloan, 2017; Lee, 2011; Chen et al., 2008). We reconcile these conflicting findings by examining the role of managerial incentives in determining the efficacy of SFAS 141/2 in improving the quality of goodwill reporting. Using the context of debt contracting, we find that the value-relevance of goodwill is higher for firms that include goodwill in debt covenants in the post-SFAS 141/2 period. We also find that in the post-period, firms that include goodwill in their debt contracts appear to take timelier impairments. In addition, debt contracts in these firms also have tighter covenant thresholds, further corroborating the increased value-relevance of goodwill under the current impairment regime. We also document a relatively higher frequency of covenant violation for firms that use goodwill in their debt contract in the post-SFAS 141/2 period. Taken together, our results inform ongoing discussions regarding the accounting for goodwill and provide new insight into understanding of debt contracting and the role of accounting standards therein.</p></div>","PeriodicalId":46693,"journal":{"name":"Journal of Contemporary Accounting & Economics","volume":"18 2","pages":"Article 100316"},"PeriodicalIF":3.3,"publicationDate":"2022-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122646845","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

CEO power and annual report reading difficulty CEO权力与年报阅读难度

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2022-08-01 DOI: 10.1016/j.jcae.2022.100315

Li Sun , Grace Johnson , Wray Bradley

引用次数: 8

Investigating the students’ behavior towards the temptation to do academic misconduct in higher education: The moderation of religiosity 高等教育学生对学术不端诱惑的行为调查:宗教性的调节

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2022-07-02 DOI: 10.20885/jca.vol4.iss1.art2

R. Hamdani, Dede Iskandar Siregar, A. Marpaung, Raniyah Aulihati Gonggo, Umi Sulistyanti

{"title":"Investigating the students’ behavior towards the temptation to do academic misconduct in higher education: The moderation of religiosity","authors":"R. Hamdani, Dede Iskandar Siregar, A. Marpaung, Raniyah Aulihati Gonggo, Umi Sulistyanti","doi":"10.20885/jca.vol4.iss1.art2","DOIUrl":"https://doi.org/10.20885/jca.vol4.iss1.art2","url":null,"abstract":"The purpose of this study was to investigate the factors that influence cheating intention (CI) and cheating behavior (CB) on accounting students with Islamic religiosity (IR) as a moderating factor. This study used the theory of planned behavior (TPB) concept in predicting academic cheating. The sample of this study used a cluster sampling approach. The data collecting technique used a survey method with a questionnaire. The population of this study was accounting students at an Islamic university in Yogyakarta, Indonesia with a total of 146 respondents. Regression analysis was employed to test this hypothesis by using a structural equation modeling (SEM) approach using smart-PLS. The results of this study indicated that attitude had a negative effect on CI and perceived behavioral control (PBC) had a positive effect on CI. Furthermore, the level of religiosity had a negative effect on CI. This finding also implied that religiosity was unable to moderate TPB to reduce students’ desire to commit academic misconduct. This paper contributes to the literature by providing empirical evidence of the moderating effect of religiosity on academic cheating behavior of students in higher education.","PeriodicalId":46693,"journal":{"name":"Journal of Contemporary Accounting & Economics","volume":"22 1","pages":""},"PeriodicalIF":3.3,"publicationDate":"2022-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77865981","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: 2

Carbon emission disclosure in Indonesia: Viewed from the aspect of board of directors, managerial ownership, and audit committee 印尼的碳排放披露:从董事会、管理层所有权和审计委员会的角度看

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2022-06-27 DOI: 10.20885/jca.vol4.iss1.art1

Rifqi Nadhif Hafidh Simamora, Safrida, Sri Elviani

引用次数: 4

Does international experience of managers bring financing benefits? Evidence from the cost of equity capital 经理人的国际经验是否会带来财务上的好处?证据来自权益资本成本

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2022-04-01 DOI: 10.1016/j.jcae.2021.100294

Jun Hu , Wenbin Long , Ming Dai , Daifei (Troy) Yao

{"title":"Does international experience of managers bring financing benefits? Evidence from the cost of equity capital","authors":"Jun Hu , Wenbin Long , Ming Dai , Daifei (Troy) Yao","doi":"10.1016/j.jcae.2021.100294","DOIUrl":"10.1016/j.jcae.2021.100294","url":null,"abstract":"<div><p>Using a sample of Chinese firms, this study examines whether and how managers’ overseas experience affects a firm’s cost of equity capital. We document a negative association between managers’ overseas experience and the cost of equity capital. Mechanism analyses indicate that companies with returnee managers have better information quality and lower systematic risk; more institutional investors, media reports, and analysts following; and higher stock liquidity, all of which lead to a lower cost of equity capital. Further analyses show that chief executive officers (CEOs) with foreign experience have a more significant impact on the cost of capital than non-CEO managers with foreign experience and that managers’ overseas work experience has a more significant impact on the cost of capital than their overseas education. We also find that the impact of managers’ overseas experience is more pronounced when that experience is gained in common law countries compared to code law countries but weaker for state-owned enterprises and firms that are cross-listed or have foreign institutional investors. Overall, the results suggest that managers’ knowledge, skills, and ethical values imprinted from overseas experience, plus eyeball effects from media and analyst attention, can reduce the cost of equity capital.</p></div>","PeriodicalId":46693,"journal":{"name":"Journal of Contemporary Accounting & Economics","volume":"18 1","pages":"Article 100294"},"PeriodicalIF":3.3,"publicationDate":"2022-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72514390","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: 2

Fraudulent financial reporting in China: Evidence from corporate renaming 中国的虚假财务报告:来自公司更名的证据

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2022-04-01 DOI: 10.1016/j.jcae.2021.100283

Yefeng Zhang, Yuyu Zhang, Troy Yao

引用次数: 6

Cultural tightness and accounting conservatism 文化严谨，会计保守

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2022-04-01 DOI: 10.1016/j.jcae.2021.100305

Minyoung Noh , Moon Kyung Cho

引用次数: 3

Does the disclosure of internal control deficiency matter for accrual quality? Evidence from China 内部控制缺陷的披露对应计质量是否重要?来自中国的证据