British Accounting Review最新文献

Institutional investor ESG activism and exploratory green innovation: Unpacking the heterogeneous responses of family firms across intergenerational contexts 机构投资者的环境、社会和治理行动主义与探索性绿色创新：解读不同代际背景下家族企业的异质反应

IF 5.5 3区管理学

British Accounting Review Pub Date : 2025-07-01 DOI: 10.1016/j.bar.2024.101324

Bao Wu , Feng Chen , Lanhua Li , Lei Xu , Zijia Liu , Yaoyao Wu

{"title":"Institutional investor ESG activism and exploratory green innovation: Unpacking the heterogeneous responses of family firms across intergenerational contexts","authors":"Bao Wu , Feng Chen , Lanhua Li , Lei Xu , Zijia Liu , Yaoyao Wu","doi":"10.1016/j.bar.2024.101324","DOIUrl":"10.1016/j.bar.2024.101324","url":null,"abstract":"<div><div><span>This paper investigates the heterogeneous responses to institutional investor ESG<span> activism by expanding reference point theory among non-family firms and family firms with different intergenerational contexts. Using a Chinese family firm database comprising 14,425 observations from 2012 to 2020, this study finds that institutional investor ESG activism is more likely to stimulate exploratory </span></span>green innovation<span> in family firms than in non-family firms. Such linkage between institutional investor ESG activism and exploratory green innovation is stronger in second-generation family firms than in first-generation firms. Furthermore, this study explores the moderating roles of family involvement and financial slack in first- and second-generation family firms as they respond to institutional investor ESG activism. Specifically, both family involvement and financial slack can enhance the positive impact of institutional investor ESG activism on exploratory green innovation in the context of second-generation family firms. The moderating effect of family involvement is not significant, whereas the moderating effect of financial slack turns into be negative in the context of first-generation family firms. Our study highlights the heterogeneous responses to institutional investor ESG activism of family firms with different intergenerational contexts.</span></div></div>","PeriodicalId":47996,"journal":{"name":"British Accounting Review","volume":"57 4","pages":"Article 101324"},"PeriodicalIF":5.5,"publicationDate":"2025-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139637793","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

Keep a watchful eye on both: The impact of the joint terms of ruling party and government leaders on family firm government subsidies 两方面都要密切关注：执政党和政府领导人的联合条款对家族企业政府补贴的影响

IF 5.5 3区管理学

British Accounting Review Pub Date : 2025-07-01 DOI: 10.1016/j.bar.2024.101468

Xuan He , Yingyu Zhang

{"title":"Keep a watchful eye on both: The impact of the joint terms of ruling party and government leaders on family firm government subsidies","authors":"Xuan He , Yingyu Zhang","doi":"10.1016/j.bar.2024.101468","DOIUrl":"10.1016/j.bar.2024.101468","url":null,"abstract":"<div><div>Political connections play a key role in family firms receiving government subsidies. However, previous research has not focused on the duality of the political connections between the ruling party and the government. Based on the joint terms of the party and government leaders, which constitutes a new perspective, we analyze how family firms address this duality as they seek stable and continuous subsidies. We test our theory in the context of Chinese listed family firms and local leadership databases between 2007 and 2019. In this empirical study, we demonstrate that longer joint terms for ruling parties and government leaders enhance the stability of family firms’ political connections and benefit enterprises that are more likely to receive continual government subsidies. This effect significantly weakens in regions in which marketization is more advanced because resource allocation gradually shifts from government mandates to the market. Therefore, family firms in such regions must adapt by seeking a stable developmental environment in the midst of dynamic institutional change. In our study, we expand the literature on political connections and the corporate political activity (CPA) of family firms in emerging markets.</div></div>","PeriodicalId":47996,"journal":{"name":"British Accounting Review","volume":"57 4","pages":"Article 101468"},"PeriodicalIF":5.5,"publicationDate":"2025-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144680477","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

Do client protection principles matter for the economic and social performance of microfinance institutions? 客户保护原则对小额信贷机构的经济和社会绩效有影响吗？

IF 5.5 3区管理学

British Accounting Review Pub Date : 2025-07-01 DOI: 10.1016/j.bar.2024.101493

Shahadat Hossain , Md Mosharraf Hossain , Vincent K. Chong

{"title":"Do client protection principles matter for the economic and social performance of microfinance institutions?","authors":"Shahadat Hossain , Md Mosharraf Hossain , Vincent K. Chong","doi":"10.1016/j.bar.2024.101493","DOIUrl":"10.1016/j.bar.2024.101493","url":null,"abstract":"<div><div>This study investigates the influence of client protection principles (CPPs) in lending practice on the economic and social performance of Microfinance Institutions (MFIs). The demand for ethical and fair treatment of microfinance borrowers has increased in recent years after several incidences of exploiting clients in different parts of the world. In response to this call, many MFIs adopted CPPs in lending operations to borrowers. However, there is a debate about whether adopting CPPs enhances the economic and social performance of MFIs. We empirically test this using a unique panel dataset of 1015 MFIs (5650 MFI-year observations) operating in 93 countries from 2007 to 2018. We find a positive impact of client protection on social performance in the short- and long-run. The impact of client protection on financial performance is negative in the short run, but the effect diminishes in the long run. Our documented findings are robust across a battery of robustness tests and account for endogeneity using propensity score matching, two-stage least squares estimation, and a two-step system generalized method of moments. Detailed analyses show that not all the client protection principles have a significant impact on MFI performance. Additional analyses show that the influence of CPPs on social performance is more pronounced in larger than smaller MFIs. Also, adopting CPPs increases the clients' access to savings and the MFIs’ access to subsidized funds.</div></div>","PeriodicalId":47996,"journal":{"name":"British Accounting Review","volume":"57 4","pages":"Article 101493"},"PeriodicalIF":5.5,"publicationDate":"2025-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144680476","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

Substitutes or complements? Use of trade credit and bank credit by family SMEs 替代还是互补？家庭中小企业使用贸易信贷和银行信贷的情况

IF 5.5 3区管理学

British Accounting Review Pub Date : 2025-07-01 DOI: 10.1016/j.bar.2024.101464

Xianzhe Jin , Jialong Li , Yefeng Wang , Yuan Wang

引用次数: 0

Mandatory corporate social responsibility spending, family control, and the cost of debt 强制性企业社会责任支出、家庭控制和债务成本

IF 5.5 3区管理学

British Accounting Review Pub Date : 2025-07-01 DOI: 10.1016/j.bar.2024.101356

Naina Duggal , Lerong He , Tara Shankar Shaw

{"title":"Mandatory corporate social responsibility spending, family control, and the cost of debt","authors":"Naina Duggal , Lerong He , Tara Shankar Shaw","doi":"10.1016/j.bar.2024.101356","DOIUrl":"10.1016/j.bar.2024.101356","url":null,"abstract":"<div><div>This paper examines how corporate compliance with the mandatory corporate social responsibility (CSR) spending regulation affects its cost of debt and how this effect varies with family control and ownership. Utilizing a longitudinal sample of Indian listed firms, we document that compliance with the CSR spending regulation leads to a lower cost of debt, and this relationship is more salient in non-family firms than in family firms. Moreover, the attenuation effect of family firms is stronger in firms both controlled and managed by families, with larger family ownership or managed by non-founder CEOs. We also find that the efficacy of compliance in reducing the cost of borrowing is stronger in firms engaged in CSR activities before the regulatory mandate. Our results are robust to endogeneity tests, different estimation methods, and alternative measures. Overall, we demonstrate that CSR compliance conveys valuable information on firm characteristics through both signaling and screening channels, consequently affecting debtholders' evaluation of firm risk and shaping their lending decisions. However, debtholders' assessments and decisions vary with firms’ ownership and control structure.</div></div>","PeriodicalId":47996,"journal":{"name":"British Accounting Review","volume":"57 4","pages":"Article 101356"},"PeriodicalIF":5.5,"publicationDate":"2025-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139695958","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

Bridging accounting and finance with entrepreneurship: Business and social perspectives 连接会计和金融与创业：商业和社会的观点

IF 5.5 3区管理学

British Accounting Review Pub Date : 2025-07-01 DOI: 10.1016/j.bar.2025.101644

James J. Chrisman , Hanging “Chevy” Fang , Craig Wilson , Zhenyu Wu

引用次数: 0

Ripple effects of innovation: How does peer influence shape corporate innovation across countries? 创新的涟漪效应：同伴影响如何影响各国的企业创新？

IF 5.5 3区管理学

British Accounting Review Pub Date : 2025-07-01 DOI: 10.1016/j.bar.2024.101514

Michael Machokoto , Daniel Gyimah , Marvelous Kadzima , Dzidziso Samuel Kamuriwo

引用次数: 0

The schizophrenic board secretary: An embedded agent between multiple stakeholders and financial misconduct 精神分裂的董事会秘书：多方利益相关者与财务不当行为之间的嵌入式代理

IF 5.5 3区管理学

British Accounting Review Pub Date : 2025-07-01 DOI: 10.1016/j.bar.2024.101323

Bin Liu , David Ahlstrom , Yutong Zhang

{"title":"The schizophrenic board secretary: An embedded agent between multiple stakeholders and financial misconduct","authors":"Bin Liu , David Ahlstrom , Yutong Zhang","doi":"10.1016/j.bar.2024.101323","DOIUrl":"10.1016/j.bar.2024.101323","url":null,"abstract":"<div><div><span>While agency theory has long informed both research and practice in emphasizing good corporate governance in preventing financial misconduct, monitoring bodies do not always function so well, especially </span>in transition economies<span>. By integrating the stakeholder-agency perspective with prospect theory, this study provides a new explanation of such dysfunction by introducing an embedded agent concept that manifests a “schizophrenic” status of agents which creates a need to satisfy multiple stakeholders and their conflicting interests. Drawing on a sample of small-to-medium-sized enterprises (SMEs) listed on the Chinese National Equities and Exchange and Quotations system from 2014 to 2017, it is shown that having a board secretary did not help reduce financial misconduct as the government had hoped, because of an embedded agent problem. However, their dysfunctional status would largely disappear, and they would perform their monitoring responsibilities if given higher equity shares and stricter subnational regulations -- two key contingencies that better align embedded agents’ interests with one group of stakeholders. Overall, this study contributes to the corporate governance literature by introducing the embedded agent concept and its theoretical boundaries, along with a focus on transition economies.</span></div></div>","PeriodicalId":47996,"journal":{"name":"British Accounting Review","volume":"57 4","pages":"Article 101323"},"PeriodicalIF":5.5,"publicationDate":"2025-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139420151","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

A global study of climate uncertainty and carbon assurance 气候不确定性与碳保证的全球研究

IF 5.5 3区管理学

British Accounting Review Pub Date : 2025-07-01 DOI: 10.1016/j.bar.2024.101425

Le Luo , Junru Zhang

引用次数: 0

Changes in bank profitability Post-CEO succession: Does prior CEO experience improve bank performance? CEO 继任后银行盈利能力的变化：前任首席执行官的经验是否会提高银行业绩？

IF 5.5 3区管理学

British Accounting Review Pub Date : 2025-07-01 DOI: 10.1016/j.bar.2024.101500

Douglas Cumming , Peigong Li , Feng Zhan , Wanwan Zhu

引用次数: 0