Journal of Contemporary Accounting & Economics最新文献_第6页

Do insiders trade on innovation? 内部人士会利用创新进行交易吗?

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2023-04-01 DOI: 10.1016/j.jcae.2022.100350

Ibrahim Bostan, G. Mujtaba Mian

引用次数: 0

CEO inside debt holdings and credit ratings 首席执行官内部债务持有和信用评级

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2023-04-01 DOI: 10.1016/j.jcae.2022.100337

Mostafa Monzur Hasan , Ashrafee Hossain , Takdir Hossain

引用次数: 3

The value of the PCAOB’s international audit oversight on U.S. listed foreign companies: Evidence from an initial enforcement breakdown PCAOB对在美上市的外国公司的国际审计监督的价值:来自最初执行失误的证据

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2023-04-01 DOI: 10.1016/j.jcae.2022.100349

Tracy Gu , Yiqi Jiang , Dan Simunic

{"title":"The value of the PCAOB’s international audit oversight on U.S. listed foreign companies: Evidence from an initial enforcement breakdown","authors":"Tracy Gu , Yiqi Jiang , Dan Simunic","doi":"10.1016/j.jcae.2022.100349","DOIUrl":"https://doi.org/10.1016/j.jcae.2022.100349","url":null,"abstract":"<div><p>Using, as a natural experiment, the Public Company Accounting Oversight Board’s May 18, 2010, release stating that its oversight of certain foreign auditors had been denied, we examine investors’ early valuation of the PCAOB’s international audit oversight on U.S.-listed foreign companies. Comparing reactions for the release-exposed U.S.-listed foreign companies to reactions for other U.S.-listed foreign companies, we find a significant decline in the share values of the release-exposed companies. The decline is driven by companies with auditors from China; the on-list companies from the 19 on-list European jurisdictions do not experience significantly negative stock market reactions. Using difference-in-differences analyses of earnings response coefficients, abnormal stock returns and trading volumes surrounding earnings announcements, and analyst forecast dispersions, we find a decline in perceived financial reporting quality for the release-exposed foreign listings from China but not for the release-exposed companies from the 19 European jurisdictions—a finding in line with the results of the stock market reaction analyses. These results are consistent with the view that the PCAOB’s international inspection would create a net value for U.S.-listed companies from China.</p></div>","PeriodicalId":46693,"journal":{"name":"Journal of Contemporary Accounting & Economics","volume":"19 1","pages":"Article 100349"},"PeriodicalIF":3.3,"publicationDate":"2023-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49875398","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

Disclosure strategies for management earnings forecasts: The role of managerial compensation structures, overoptimism, and effort 管理层盈余预测的披露策略:管理层薪酬结构、过度乐观和努力的作用

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2023-04-01 DOI: 10.1016/j.jcae.2023.100351

Hao-Chang Sung , Shirley J. Ho

引用次数: 1

Predictors of revenue shifting and expense shifting: Evidence from an emerging economy 收入转移和费用转移的预测因素:来自新兴经济体的证据

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2023-04-01 DOI: 10.1016/j.jcae.2022.100339

Manish Bansal , Ashish Kumar , Asit Bhattacharyya , Hajam Abid Bashir

{"title":"Predictors of revenue shifting and expense shifting: Evidence from an emerging economy","authors":"Manish Bansal , Ashish Kumar , Asit Bhattacharyya , Hajam Abid Bashir","doi":"10.1016/j.jcae.2022.100339","DOIUrl":"https://doi.org/10.1016/j.jcae.2022.100339","url":null,"abstract":"<div><p>Prior literature established that managers engage in Revenue Shifting (RS) and Expense Shifting (ES) with an intent to report favourable operating performance; our paper extends such research in a new direction by investigating both forms based on the need, ease, and advantage of each form of shifting strategy. The study identifies firm-specific factors that incentivize firms to prefer RS over ES and vice-versa. We undertake a longitudinal study (2001–2019) using a sample size of 39,634 firm-years, enlisted in the Bombay Stock Exchange (BSE). Our results show that peer-performance, size, financial leverage, growth opportunities, accounting flexibility, and age of the firm are important determinants of RS and ES. Specifically, our results exhibit that large, levered, old, and high-growth firms are engaged in RS, whereas small, young, firms with lesser accounting flexibility, and firms operating below peer-performance are involved in ES. These results are robust to controlling for accruals earnings management, real earnings management, endogeneity, self-selection bias, and alternative measures of RS and ES. Our findings are helpful to auditors and investors in improving awareness of forms of classification shifting.</p></div>","PeriodicalId":46693,"journal":{"name":"Journal of Contemporary Accounting & Economics","volume":"19 1","pages":"Article 100339"},"PeriodicalIF":3.3,"publicationDate":"2023-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49875405","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

Corporate lobbying: Resource-seeking or rent-seeking? Evidence from audit fees 企业游说:资源寻求还是寻租?来自审计费用的证据

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2023-04-01 DOI: 10.1016/j.jcae.2022.100341

Steven Yik-Pui Low , Yee-Boon Foo , Ferdinand A Gul

引用次数: 0

The unintended consequence of collateral-based financing: Evidence from corporate cost behavior 基于抵押品的融资的意外后果:来自企业成本行为的证据

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2023-04-01 DOI: 10.1016/j.jcae.2022.100338

Tongxia Li , Chun Lu , Zhihua Chen

引用次数: 0

Corporate transparency and firm value: Does market competition play an external governance role? 公司透明度与企业价值:市场竞争是否起外部治理作用?

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2023-04-01 DOI: 10.1016/j.jcae.2022.100334

Chengcheng Liu , Qing Li , Yu-En Lin

{"title":"Corporate transparency and firm value: Does market competition play an external governance role?","authors":"Chengcheng Liu , Qing Li , Yu-En Lin","doi":"10.1016/j.jcae.2022.100334","DOIUrl":"https://doi.org/10.1016/j.jcae.2022.100334","url":null,"abstract":"<div><p><span>We investigate whether market competition affects the relationship between corporate transparency and firm value in the United States using a sample of 12,665 firm-year observations, representing 1,644 individual firms for the period 1996–2018. The results show that stronger transparency enhances firm value, and market competition has a significantly positive effect on that relationship. More importantly, we use hierarchical linear models<span> further to explore the cross-level interaction impact of market competition, and we find evidence suggesting that the industry-level competition has a significant cross-level moderating effect. Additionally, consistent with the substitute perspective, we also find that the disciplinary power of competition on the relationship between transparency and value is more pronounced for firms with weak corporate governance. Overall, our evidence supports the “bright side” of the competition view and highlights the active external governance role that competition plays in the value promotion effect of corporate transparency at both the individual and the </span></span>industry levels.</p></div>","PeriodicalId":46693,"journal":{"name":"Journal of Contemporary Accounting & Economics","volume":"19 1","pages":"Article 100334"},"PeriodicalIF":3.3,"publicationDate":"2023-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49875399","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: 10

Goodwill or “No-will”: Hubris in the tone at the top 善意还是“不愿”:高层的语气中弥漫着傲慢

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2023-04-01 DOI: 10.1016/j.jcae.2022.100331

Emmeli Runesson, Niuosha Samani

{"title":"Goodwill or “No-will”: Hubris in the tone at the top","authors":"Emmeli Runesson, Niuosha Samani","doi":"10.1016/j.jcae.2022.100331","DOIUrl":"https://doi.org/10.1016/j.jcae.2022.100331","url":null,"abstract":"<div><p>In this study, we examine the effect of hubris in the “tone at the top” on goodwill accounting, specifically the proportion of the purchase price allocated to goodwill following a business combination, and subsequent decisions to write down goodwill. Using a sample of CEO letters to shareholders from firms listed on the Stockholm Stock Exchange, we carry out textual analysis of CEO letters to identify hubristic language markers. Regression analyses show that hubristic tone is positively and significantly associated with the purchase price allocation to goodwill. Furthermore, we predict that hubristic managers are more likely to overestimate future cash inflows related to goodwill and are less likely to perceive the need for a potential write-down. Consistent with this prediction, we find that hubristic tone in the CEO letters is associated with less timely goodwill write-downs. This study contributes to the literature on goodwill accounting, the role of CEO attributes on corporate decision making, and to research on CEO-speak, by providing evidence that a hubristic tone at the top can explain strategic choices by management and accounting outcomes.</p></div>","PeriodicalId":46693,"journal":{"name":"Journal of Contemporary Accounting & Economics","volume":"19 1","pages":"Article 100331"},"PeriodicalIF":3.3,"publicationDate":"2023-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49875395","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

Perpetual securities and stock prices: Korean evidence 永续证券与股价:韩国的证据

IF 3.3 3区管理学

Journal of Contemporary Accounting & Economics Pub Date : 2023-04-01 DOI: 10.1016/j.jcae.2022.100340

Young Jun Kim , Sera Choi , Eugenia Y. Lee , Su Jeong Lee

引用次数: 0