Journal of Contemporary Accounting & Economics最新文献_第2页

Visiting in the wrong time: Huangli and analysts’ bias 在错误的时间访问：黄力和分析师的偏见

IF 2.9 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2026-04-01 Epub Date: 2025-11-06 DOI: 10.1016/j.jcae.2025.100514

Fang Wang , Yichen Jiang , Zhe Li

引用次数: 0

Peer MD&A risk disclosure and analysts’ earnings forecast accuracy: evidence from China 同业并购风险披露与分析师盈利预测准确性：来自中国的证据

IF 2.9 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2026-04-01 Epub Date: 2025-12-01 DOI: 10.1016/j.jcae.2025.100530

Shuai Wang , Ziyao San , Ling Zhou , Minna Yu

引用次数: 0

Enabler or barrier: Impact of patent protection on technology diffusion in China 中国专利保护对技术扩散的影响

IF 2.9 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2026-04-01 Epub Date: 2025-12-28 DOI: 10.1016/j.jcae.2025.100534

Chao Liang , Bai Liu

{"title":"Enabler or barrier: Impact of patent protection on technology diffusion in China","authors":"Chao Liang , Bai Liu","doi":"10.1016/j.jcae.2025.100534","DOIUrl":"10.1016/j.jcae.2025.100534","url":null,"abstract":"<div><div>Technology diffusion has facilitated long-term socio-economic progress. Therefore, most countries are striving to offer an environment conducive to innovation, including the establishment of appropriate intellectual property rights (IPR). However, the role of IPR in promoting technology diffusion remains controversial. Specifically, patents promote technology diffusion by protecting inventions and disclosing knowledge to the public, while triggering exclusive rights that may hinder technology diffusion. Based on signal theory, the existing research perspective is extended from “point-to-point” (inventor-imitator) to “point-to-side” (inventor-potential inventor) to investigate the technology diffusion regarding peer firms of defendant in patent litigation. The results show stronger technology diffusion in peer firms of defendant after patent litigation. Two mechanisms of litigation signals are demonstrated through grouping tests: legitimacy and competitiveness. This study contributes to resolving the contradictory literature on IPR and technology diffusion, while also complementing studies on IPR in developing countries.</div></div>","PeriodicalId":46693,"journal":{"name":"Journal of Contemporary Accounting & Economics","volume":"22 1","pages":"Article 100534"},"PeriodicalIF":2.9,"publicationDate":"2026-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145883351","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

The impact of public enforcement on interest conflicts of affiliated analyst: evidence from regulatory reforms in China’s IPO market 公共执法对关联分析师利益冲突的影响：来自中国IPO市场监管改革的证据

IF 2.9 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2026-04-01 Epub Date: 2025-12-18 DOI: 10.1016/j.jcae.2025.100532

Ting Xu , Weimin Gao , Tao Zhang

{"title":"The impact of public enforcement on interest conflicts of affiliated analyst: evidence from regulatory reforms in China’s IPO market","authors":"Ting Xu , Weimin Gao , Tao Zhang","doi":"10.1016/j.jcae.2025.100532","DOIUrl":"10.1016/j.jcae.2025.100532","url":null,"abstract":"<div><div>This study exploits the phased implementation of China’s registration-based IPO reform as a natural experiment to investigate the impact of regulatory enforcement on the conflicts of interest faced by underwriter-affiliated analysts. We find that the transition from an approval-based system to a registration-based system significantly mitigates the incentives for affiliated analysts to issue optimistically biased recommendations. This result remains robust across a battery of sensitivity analyses. Mechanism tests indicate that the reform operates by enhancing the objectivity and relevance of issuer disclosures, thereby increasing the detectability of biased recommendation. Cross-sectional tests show that this disciplining effect is more pronounced when analysts face greater pressure from buy-side clients and high investor sentiment. Furthermore, we document stronger market reactions to affiliated analysts’ recommendations post-reform, suggesting a restoration of investor trust. These findings offer novel insights into the role of public enforcement and disclosure quality in disciplining financial intermediaries within emerging capital markets.</div></div>","PeriodicalId":46693,"journal":{"name":"Journal of Contemporary Accounting & Economics","volume":"22 1","pages":"Article 100532"},"PeriodicalIF":2.9,"publicationDate":"2026-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145839199","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

Resource allocation in times of need: the role of social commitments 需要时的资源分配：社会承诺的作用

IF 2.9 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2026-04-01 Epub Date: 2026-01-08 DOI: 10.1016/j.jcae.2026.100540

Harvey Nguyen , Anh Viet Pham , Man Duy (Marty) Pham , Mia Hang Pham

引用次数: 0

Local CEOs and voluntary Disclosure: Evidence from Non-GAAP earnings 本地ceo与自愿披露：来自非公认会计准则收益的证据

IF 2.9 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2026-04-01 Epub Date: 2026-01-16 DOI: 10.1016/j.jcae.2026.100543

Jiwoo Seo , Adam M. Esplin , Yun Ke , Kari Joseph Olsen

{"title":"Local CEOs and voluntary Disclosure: Evidence from Non-GAAP earnings","authors":"Jiwoo Seo , Adam M. Esplin , Yun Ke , Kari Joseph Olsen","doi":"10.1016/j.jcae.2026.100543","DOIUrl":"10.1016/j.jcae.2026.100543","url":null,"abstract":"<div><div>In the U.S. CEO labor market, firms are more likely to hire local CEOs than non-local CEOs. We examine the impact of this hiring practice on the voluntary disclosure of firm financial information in the non-GAAP earnings setting. Using a sample of S&P 1500 firms from 2003 to 2020, we show that firms led by local CEOs are less likely to provide non-GAAP earnings than those led by non-local CEOs. This result holds across a battery of robustness tests, including a placebo test, various matching procedures, an instrumental variable approach, different regression specifications, and alternative samples using CEO turnover events. We also find that local CEOs are less likely to use non-GAAP earnings to meet or beat earnings targets and that investors react more to changes in non-GAAP earnings issued by firms with local CEOs. This pattern of results is consistent with the interpretation that local CEOs are less likely to use non-GAAP earnings opportunistically for image management purposes. Our results suggest that hiring bias toward local CEOs shapes both the frequency and the credibility of firms’ voluntary disclosure practices.</div></div>","PeriodicalId":46693,"journal":{"name":"Journal of Contemporary Accounting & Economics","volume":"22 1","pages":"Article 100543"},"PeriodicalIF":2.9,"publicationDate":"2026-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145976129","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

Impression management in financially distressed firms: Evidence from integrated reporting in Australia 财务困境公司的印象管理：来自澳大利亚综合报告的证据

IF 2.9 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2026-04-01 Epub Date: 2026-01-20 DOI: 10.1016/j.jcae.2026.100542

Anthony C. Ng , Ferdinand A. Gul

引用次数: 0

Minority shareholder influence and labor investment efficiency: Evidence from China’s online voting reform 中小股东影响与劳动投资效率：来自中国网络投票改革的证据

IF 2.9 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2026-04-01 Epub Date: 2026-01-03 DOI: 10.1016/j.jcae.2025.100537

Se Chen , Shaojie Lai , Zixuan Luo , Qing Sophie Wang

引用次数: 0

How do narcissistic CEOs decide their firms’ debt maturity? An analysis based on the SPIN model 自恋型ceo如何决定公司的债务期限？基于SPIN模型的分析

IF 2.9 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2026-04-01 Epub Date: 2025-11-08 DOI: 10.1016/j.jcae.2025.100516

Ethan Xin Liu , Chenxi Du

{"title":"How do narcissistic CEOs decide their firms’ debt maturity? An analysis based on the SPIN model","authors":"Ethan Xin Liu , Chenxi Du","doi":"10.1016/j.jcae.2025.100516","DOIUrl":"10.1016/j.jcae.2025.100516","url":null,"abstract":"<div><div>CEO narcissism, as a prevalent trait among top leaders, has witnessed burgeoning scholarly attention. However, the CEO narcissism research is dominated by the Upper Echelons Theory and calls on other novel theoretical perspectives. In addition, the association between CEO narcissism and companies’ debt maturity selection remains unexplored. To address the research gaps, this study draws upon the Upper-Echelon Theory and the Status Pursuit in Narcissism (SPIN) model deriving from personality psychology to explore the predictive impact of CEO narcissism on corporate debt maturity and examine the moderating effect of interlocking directors and directors with financial experience on the relationship. The study leverages text analysis to measure narcissism of CEOs in the non-financial listed companies in China, spanning from 2015 to 2022. Regression results demonstrate that CEO narcissism is negatively associated with corporate debt maturity. In addition, the relationship is reinforced by the presence of interlocking directors and directors with financial experience within the board. The study not only introduces the SPIN model to enrich the theoretical lens of CEO narcissism research but also sheds light on the nuanced dynamics of CEO narcissism and its interplay with board governance. In addition, the study provides managerial implications for companies to bolster board governance and counterbalance the potential risk-taking behavior of narcissistic CEOs, thereby ensuring financial stability and risk mitigation.</div></div>","PeriodicalId":46693,"journal":{"name":"Journal of Contemporary Accounting & Economics","volume":"22 1","pages":"Article 100516"},"PeriodicalIF":2.9,"publicationDate":"2026-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145527918","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

The impact of judicial independence on the corporate debt financing cost − Empirical evidence from China 司法独立对企业债务融资成本的影响——来自中国的经验证据

IF 2.9 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2026-04-01 Epub Date: 2025-12-15 DOI: 10.1016/j.jcae.2025.100533

Yufei Zhang , Yijun Yu , Yimeng Zhang , Tengjiao He

{"title":"The impact of judicial independence on the corporate debt financing cost − Empirical evidence from China","authors":"Yufei Zhang , Yijun Yu , Yimeng Zhang , Tengjiao He","doi":"10.1016/j.jcae.2025.100533","DOIUrl":"10.1016/j.jcae.2025.100533","url":null,"abstract":"<div><div>Debt financing is crucial for firms, particularly in developing countries like China, where the stock market is underdeveloped. Reducing the debt financing costs of enterprises through institutional design is crucial for enterprise development. This paper examines whether the Chinese judicial independence reform, initiated in 2014 and characterized by centralizing financial and personnel management from the city level to the provincial level, can reduce the firm’s debt financing cost. We employ data from A-share listed firms from 2011 to 2022 and find that the judicial independence reform significantly decreases the firm’s debt financing costs. The mechanisms include an improved financial environment, increased accounting conservatism, and decreased default risk. This effect is more pronounced for POEs, firms without political connections, and firms in better legal environments. Overall, our findings demonstrate that strengthening judicial independence is a vital institutional foundation for reducing corporate financing frictions and supporting firm growth.</div></div>","PeriodicalId":46693,"journal":{"name":"Journal of Contemporary Accounting & Economics","volume":"22 1","pages":"Article 100533"},"PeriodicalIF":2.9,"publicationDate":"2026-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145796679","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