Advances in Accounting最新文献_第6页

Do analysts provide information about other comprehensive income in book value forecasts for financial firms? 分析师是否在金融公司账面价值预测中提供其他综合收益的信息？

IF 1.6

Advances in Accounting Pub Date : 2024-01-13 DOI: 10.1016/j.adiac.2023.100726

Dirk Black , Thaddeus Neururer

{"title":"Do analysts provide information about other comprehensive income in book value forecasts for financial firms?","authors":"Dirk Black , Thaddeus Neururer","doi":"10.1016/j.adiac.2023.100726","DOIUrl":"https://doi.org/10.1016/j.adiac.2023.100726","url":null,"abstract":"<div><p>Analysts' earnings forecasts exclude other comprehensive income (OCI). However, OCI affects firm value on a dollar-for-dollar basis and can enhance investors' assessments of the riskiness of firms' equity capital. Focusing on financial firms and using analysts' book value per share (BVPS) forecasts as a proxy for forward-looking information about OCI, we examine whether analysts provide information about future OCI via BVPS forecasts, whether investors respond to BVPS innovations (which should include OCI innovations), and whether such innovations are more useful to investors in financial firms with difficult-to-value financial assets. We find evidence consistent with: 1) Analysts' BVPS forecasts generally conveying at least some information about future OCI; and, 2) The market responding to whether firms miss analysts' consensus BVPS expectations (which should include OCI expectations), with stronger evidence for firms with larger holdings of difficult-to-value financial assets. The evidence supports the intuition that analysts provide at least some information about future OCI in their BVPS forecasts.</p></div>","PeriodicalId":46906,"journal":{"name":"Advances in Accounting","volume":"64 ","pages":"Article 100726"},"PeriodicalIF":1.6,"publicationDate":"2024-01-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139435720","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Privileged information access, analyst consensus building, and stock return volatility: Evidence from the JOBS Act 特权信息获取、分析师共识建立和股票回报波动：来自 JOBS 法案的证据

IF 1.6

Advances in Accounting Pub Date : 2024-01-10 DOI: 10.1016/j.adiac.2023.100729

Shunyao Jin , Michael D. Kimbrough , Isabel Yanyan Wang

{"title":"Privileged information access, analyst consensus building, and stock return volatility: Evidence from the JOBS Act","authors":"Shunyao Jin , Michael D. Kimbrough , Isabel Yanyan Wang","doi":"10.1016/j.adiac.2023.100729","DOIUrl":"https://doi.org/10.1016/j.adiac.2023.100729","url":null,"abstract":"<div><p><span>This study examines whether allowing select analysts private access to management before an IPO affects analyst consensus building and subsequently post-IPO stock return volatility. The 2012 Jumpstart Our Business Startups (JOBS) Act creates many exemptions to reduce the cost of going public for smaller issuers that qualify as an Emerging Growth Company (EGC). One set of provisions allows analysts affiliated with an EGC's underwriters to communicate privately with management and potential investors before the IPO. Using a sample of IPOs during 2001–2022, we find that the dispersion in affiliated analysts' initiation forecasts is significantly higher for EGCs than similar IPOs in the pre-JOBS period. A </span>path analysis reveals that the JOBS Act indirectly contributes to the heightened post-IPO stock return volatility through the mediating role of forecast dispersion among affiliated analysts. Our exploratory analyses suggest that more significant variations in affiliated analysts' social connections and their workload tend to be associated with higher forecast dispersion. Overall, our findings indicate that having privileged access to management could reduce consensus among analysts, which can increase post-IPO stock return volatility in EGCs.</p></div>","PeriodicalId":46906,"journal":{"name":"Advances in Accounting","volume":"64 ","pages":"Article 100729"},"PeriodicalIF":1.6,"publicationDate":"2024-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139406434","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Discussion of “Impact of Audit Committee Social Capital on the Adoption of COSO 2013” 讨论 "审计委员会社会资本对采用 COSO 2013 的影响"

IF 1.6

Advances in Accounting Pub Date : 2024-01-06 DOI: 10.1016/j.adiac.2023.100724

Kathleen Rupley

引用次数: 0

Clients' strategic change and auditor behavior: Evidence from audit adjustments and audit fees 客户的战略变化与审计师的行为：来自审计调整和审计费用的证据

IF 1.6

Advances in Accounting Pub Date : 2024-01-05 DOI: 10.1016/j.adiac.2023.100721

Bin Wu , Anqi Li , Wen Zhang

{"title":"Clients' strategic change and auditor behavior: Evidence from audit adjustments and audit fees","authors":"Bin Wu , Anqi Li , Wen Zhang","doi":"10.1016/j.adiac.2023.100721","DOIUrl":"https://doi.org/10.1016/j.adiac.2023.100721","url":null,"abstract":"<div><p>Using data on audit adjustments, this study examines the relation between Chinese listed companies' strategic change and their auditor's behavior. We find that levels of audit clients' strategic change are positively associated with the magnitude of audit adjustments and audit fees, suggesting that auditors exert greater effort, and propose larger audit adjustments, on these audits. We argue that during a client’ strategic change, auditors rely less on prior experience with the client, and increase their perceived risk of the audit. Further results show a positive correlation between clients' strategic change and the experience level of auditors assigned to the client by the audit firm. We also find evidence that levels of strategic change are negatively associated with pre-audit financial reporting quality, indicating that auditors' perceived risk for clients undergoing strategic change is consistent with clients' real financial reporting risk. Evidence on regulatory sanctions suggests that audit adjustments mitigate the positive association between clients' strategic change and the likelihood of those clients' being sanctioned. Taken together, these results suggest that auditors incorporate clients' strategic change into their assessment of client risk and implement appropriate responses to that risk, and that audit adjustments help companies avoid regulatory sanction.</p></div>","PeriodicalId":46906,"journal":{"name":"Advances in Accounting","volume":"64 ","pages":"Article 100721"},"PeriodicalIF":1.6,"publicationDate":"2024-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139099869","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Financial analysts' information discovery: A study of manager-analyst interactions in conference calls 金融分析师的信息发现：电话会议中经理与分析师互动研究

IF 1.6

Advances in Accounting Pub Date : 2024-01-04 DOI: 10.1016/j.adiac.2023.100727

Chuong Do

引用次数: 0

The effect of audit committee financial expertise on earnings management tactics in the post-SOX era 后 SOX 时代审计委员会财务专业知识对收益管理策略的影响

IF 1.6

Advances in Accounting Pub Date : 2023-12-30 DOI: 10.1016/j.adiac.2023.100725

Hui Xia (Harry) , Shu Lin , Shuo Li , Indranil Bardhan

{"title":"The effect of audit committee financial expertise on earnings management tactics in the post-SOX era","authors":"Hui Xia (Harry) , Shu Lin , Shuo Li , Indranil Bardhan","doi":"10.1016/j.adiac.2023.100725","DOIUrl":"10.1016/j.adiac.2023.100725","url":null,"abstract":"<div><p><span>To restore investor confidence and promote the integrity of financial accounting information provided to investors, following the passage of the Sarbanes-Oxley Act (SOX), the SEC adopted two new rules for public firms in early 2003, requiring the disclosure of audit committee financial expertise (ACFE) per SOX 407 and the reconciliation of non-GAAP financial measures to those most comparable in GAAP (Regulation G) per SOX 401(b). Using quarterly filing data in the post-SOX era from March 2003 to December 2016, this study examines the impact of these requirements, with a focus on the effect of ACFE on the main earnings manipulation tactics used to just meet or beat analyst expectations (JUSTMBE). Our study investigates the effects of overall ACFE and its components on three key earnings management tactics, namely, discretionary accruals, real activities management, and non-GAAP financial disclosures. We observe that firms with a higher level of ACFE, particularly accounting and </span>finance expertise, exhibit a lower propensity to JUSTMBE. Furthermore, we posit that two upward earnings manipulations, accrual-based and real activities management, are significantly mitigated by ACFE through a complementary effect of its accounting and supervisory expertise components. However, we identify a clear strategic shift in which non-GAAP financial disclosures with unexpected exclusions become a popular alternative tactic for managers to JUSTMBE under the increasing presence of ACFE. This study provides empirical evidence with implications for regulators to consider more rigorous intervention and regulation on non-GAAP disclosures and to refine the requirement of audit committee financial experts with an emphasis on the complement of accounting and non-accounting financial expertise to effectively curtail earnings manipulation.</p></div>","PeriodicalId":46906,"journal":{"name":"Advances in Accounting","volume":"64 ","pages":"Article 100725"},"PeriodicalIF":1.6,"publicationDate":"2023-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139065925","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Does Islamic religiosity influence professional accountants' judgments? Evidence from global convergence of IFRS 伊斯兰宗教信仰会影响专业会计师的判断吗？国际财务报告准则》全球趋同的证据

IF 1.6

Advances in Accounting Pub Date : 2023-12-26 DOI: 10.1016/j.adiac.2023.100723

A.F.M. Mainul Ahsan , Sudipta Bose , Muhammad Jahangir Ali

{"title":"Does Islamic religiosity influence professional accountants' judgments? Evidence from global convergence of IFRS","authors":"A.F.M. Mainul Ahsan , Sudipta Bose , Muhammad Jahangir Ali","doi":"10.1016/j.adiac.2023.100723","DOIUrl":"10.1016/j.adiac.2023.100723","url":null,"abstract":"<div><p>We examine the influence of religiosity on professional accountants' judgments towards global convergence of financial reporting using, as an example, the Islamic religiosity context of Bangladesh. Professional accountants' judgments, in relation to the global convergence of the International Financial Reporting Standards (IFRS), is measured using Gray's (1988) accounting values (professionalism vs. statutory control, uniformity vs. flexibility, conservatism vs. optimism and secrecy vs. transparency), with Islamic religiosity measured using the Sahin–Francis Scale of Attitude towards Islam. We find that professional accountants in Bangladesh who have higher levels of Islamic religiosity values are supportive of statutory control, conservatism, uniformity, and secrecy. These findings suggest that professional accountants in Bangladesh are less likely to be supportive of principles-based financial reporting standards such as IFRS. The findings have implications for global accounting standard setters, international accounting firms, and multinational companies, particularly in Islamic countries. Our study findings may be useful to regulators in Bangladesh and other Islamic countries in improving the quality of the convergence of IFRS.</p></div>","PeriodicalId":46906,"journal":{"name":"Advances in Accounting","volume":"64 ","pages":"Article 100723"},"PeriodicalIF":1.6,"publicationDate":"2023-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0882611023000822/pdfft?md5=856d0827baba0a931d89d34e1d7c505c&pid=1-s2.0-S0882611023000822-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139057153","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Detecting accounting fraud in family firms: Evidence from machine learning approaches 检测家族企业的会计欺诈：来自机器学习方法的证据

IF 1.6

Advances in Accounting Pub Date : 2023-12-15 DOI: 10.1016/j.adiac.2023.100722

Md Jahidur Rahman , Hongtao Zhu

{"title":"Detecting accounting fraud in family firms: Evidence from machine learning approaches","authors":"Md Jahidur Rahman , Hongtao Zhu","doi":"10.1016/j.adiac.2023.100722","DOIUrl":"https://doi.org/10.1016/j.adiac.2023.100722","url":null,"abstract":"<div><p>The primary objective of this research is to detect accounting fraud in Chinese family firms through the utilization of imbalanced ensemble learning algorithms. It serves as the first endeavor to predict fraud in family firms using machine learning algorithms, thus addressing the gap in machine-learning modeling for family business research. The findings of this study demonstrate that the ensemble learning models exhibit superior effectiveness in identifying accounting fraud compared to the logistic regression approach. Moreover, the imbalanced ensemble learning classifiers outperform the conventional models. Significantly, among all the studied fraud classifiers, the CUSBoost classifier consistently attains the best overall performance. This research contributes to the field of accounting fraud detection in family firms by shifting the focus from conventional causal inference methods (such as regression) to machine-learning-based predictive techniques. Additionally, it extends existing literature on accounting fraud detection by emphasizing the issue of data imbalance in fraud datasets and demonstrating the superiority of imbalanced machine learning algorithms over conventional approaches in detecting accounting fraud.</p></div>","PeriodicalId":46906,"journal":{"name":"Advances in Accounting","volume":"64 ","pages":"Article 100722"},"PeriodicalIF":1.6,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138713335","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Tone of narrative disclosures and earnings management: UK evidence 叙事披露与盈余管理的基调:英国证据

IF 1.6

Advances in Accounting Pub Date : 2023-11-25 DOI: 10.1016/j.adiac.2023.100710

Tamer Elshandidy , Hany Kamel

{"title":"Tone of narrative disclosures and earnings management: UK evidence","authors":"Tamer Elshandidy , Hany Kamel","doi":"10.1016/j.adiac.2023.100710","DOIUrl":"https://doi.org/10.1016/j.adiac.2023.100710","url":null,"abstract":"<div><p>This paper investigates whether a relationship exists between the tone of narrative disclosures and engagement in earnings management activities. Using FTSE all-share nonfinancial firms, our estimates show a significant association between the tone of narrative disclosure (measured by the percentage of positive words, negative words, and net tone) and the prevalence of earnings management. The results also suggest that manipulating firms, which represent extreme cases of earnings management, are more likely to use less negative tone to conceal their fraudulent practices. In contrast, non-manipulating firms tend to use more positive tone to mask their involvement in managing earnings. Additionally, the paper examines the market reaction to both earnings management and the tone of narrative disclosure. The findings reveal that earnings management and net tone are positively associated with abnormal market returns for non-manipulating firms, but have no significant association for manipulating firms. Overall, the paper highlights the important role of the tone of narrative disclosures in providing clarity to the numbers presented in annual reports.</p></div>","PeriodicalId":46906,"journal":{"name":"Advances in Accounting","volume":"64 ","pages":"Article 100710"},"PeriodicalIF":1.6,"publicationDate":"2023-11-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138439480","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Do competitive markets encourage tax aggressiveness? 竞争性市场是否鼓励税收积极性？

IF 1.2

Advances in Accounting Pub Date : 2023-10-25 DOI: 10.1016/j.adiac.2023.100702

引用次数: 0