British Accounting Review最新文献_第6页

Quid pro quo? Local government debt and corporate tax avoidance 交换条件？地方政府债务与企业避税

IF 5.5 3区管理学

British Accounting Review Pub Date : 2024-09-01 DOI: 10.1016/j.bar.2023.101304

Hongji Xie , Cunzhi Tian , Yuanlin Wu

{"title":"Quid pro quo? Local government debt and corporate tax avoidance","authors":"Hongji Xie , Cunzhi Tian , Yuanlin Wu","doi":"10.1016/j.bar.2023.101304","DOIUrl":"10.1016/j.bar.2023.101304","url":null,"abstract":"<div><div>This study examines the effect of local government debt (LGD) on corporate tax<span> avoidance using a sample of Chinese-listed firms from 2007 to 2019. We find a negative relationship between LGD and tax avoidance only in the municipal state-owned enterprises (SOEs) controlled by the municipal government, suggesting that municipal officials focus on municipal SOEs to raise tax revenues to alleviate debt pressures. Further discussions show that the negative effect of LGD on municipal SOEs' tax avoidance is pronounced in politically connected managers, cities with worse fiscal situations and only present at the early phase of officials' tenure but insignificant later. We examine the economic consequences of politically driven tax planning and find that municipal SOEs with lower tax avoidance subsequently receive more government contracts as favor returns. Such favor exchange changes the distribution of current and future cash flows of the municipal SOEs, which are mainly determined by adjusting the composition of current accruals (i.e., more income-increasing earning management) and cash flow items (i.e., less tax avoidance). This study sheds light on the “two-way favor exchange” between governments and firms and provides implications for understanding local government leaders' heterogeneous incentives for tax enforcement and firms’ competing incentives for tax avoidance.</span></div></div>","PeriodicalId":47996,"journal":{"name":"British Accounting Review","volume":"56 6","pages":"Article 101304"},"PeriodicalIF":5.5,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139194114","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, forward-looking strategy-related disclosure, and excess executive compensation: Evidence from China 印象管理、前瞻性战略相关信息披露和超额高管薪酬：来自中国的证据

IF 5.5 3区管理学

British Accounting Review Pub Date : 2024-09-01 DOI: 10.1016/j.bar.2024.101430

Jean Jinghan Chen , Jianmei Liu , Li Xie , Xinsheng Cheng

{"title":"Impression management, forward-looking strategy-related disclosure, and excess executive compensation: Evidence from China","authors":"Jean Jinghan Chen , Jianmei Liu , Li Xie , Xinsheng Cheng","doi":"10.1016/j.bar.2024.101430","DOIUrl":"10.1016/j.bar.2024.101430","url":null,"abstract":"<div><div>We investigate whether overpaid executives in Chinese listed firms engage in impression management by using forward-looking strategy-related disclosure (FLSD) in management discussion and analysis (MD&A) narratives to justify their excess compensation. Using a sample of 8437 firm-year observations of Chinese nonfinancial listed firms from 2007 to 2016, we find a significant and positive relationship between executive overpayment and impression management in FLSD. This positive relationship is more pronounced in state-owned enterprises (SOEs) than non-SOEs. We also find that a higher degree of board independence, higher institutional shareholdings, auditors, analysts, and the introduction of the anti-corruption campaign could lower such a positive relationship. These findings suggest that impression management in FLSD is reduced when corporate governance is strengthened. We also find that CEO duality could enhance this positive relationship. Further examining how the market reacts to such impression management, we find an immediate positive and significant market reaction to such impression management at the time of the annual report filing, which could further mitigate the negative perceptions from stakeholders due to excessive pay. Such a positive market reaction is reversed over a longer time horizon, which supports the opportunistic/symbolic nature of impression management in FLSD.</div></div>","PeriodicalId":47996,"journal":{"name":"British Accounting Review","volume":"56 6","pages":"Article 101430"},"PeriodicalIF":5.5,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S089083892400194X/pdfft?md5=e51a26e62658d3a7ccebac28a309412b&pid=1-s2.0-S089083892400194X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142167402","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

When a financially oriented performance measurement system supports hybrid collective sensemaking: The case of a cooperative bank 当以财务为导向的绩效衡量系统支持混合集体意义构建时:以合作银行为例

IF 5.5 3区管理学

British Accounting Review Pub Date : 2024-09-01 DOI: 10.1016/j.bar.2023.101202

Nathalie Bénet , Aude Deville , Séverine Ventolini

{"title":"When a financially oriented performance measurement system supports hybrid collective sensemaking: The case of a cooperative bank","authors":"Nathalie Bénet , Aude Deville , Séverine Ventolini","doi":"10.1016/j.bar.2023.101202","DOIUrl":"10.1016/j.bar.2023.101202","url":null,"abstract":"<div><div><span>A performance measurement system (PMS) is supported by the idea that performance measurements are drivers of organisational performance. Under that assumption, scholars have discussed and tried to develop comprehensive PMSs that include both financial and non-financial measurements. Building on the specific context of a hybrid organisation and findings from a </span>case study<span>, this paper explores how an incomplete and financially oriented PMS in a hybrid setting can nevertheless support collective sensemaking. The findings show how a PMS is used by managers at a cooperative bank as an artefact, supporting conversational and material practices. Combined with the organisation's strong socialisation process and managers and employees' need to defend their social and cooperative identity, a PMS supports the bank's hybrid nature and leads to the avoidance of tension and conflict. That shows that the PMS presents a specific feature: flexibility in its handling and use by managers and employees. This paper thus contributes to the call made in the literature for more studies on PMSs in hybrid organisations by showing that even an incomplete PMS can allow such organisations to avoid tension and conflict relating to their hybrid values.</span></div></div>","PeriodicalId":47996,"journal":{"name":"British Accounting Review","volume":"56 6","pages":"Article 101202"},"PeriodicalIF":5.5,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41465892","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

Signals from CSR competition: The influence of relative CSR performance on analysts’ recommendations 来自企业社会责任竞争的信号：企业社会责任的相对表现对分析师建议的影响

IF 5.5 3区管理学

British Accounting Review Pub Date : 2024-09-01 DOI: 10.1016/j.bar.2023.101298

Jun Zheng , Majid Ghorbani , Yan Yan , Ying Cao

{"title":"Signals from CSR competition: The influence of relative CSR performance on analysts’ recommendations","authors":"Jun Zheng , Majid Ghorbani , Yan Yan , Ying Cao","doi":"10.1016/j.bar.2023.101298","DOIUrl":"10.1016/j.bar.2023.101298","url":null,"abstract":"<div><div>Due to the institutionalization of corporate social responsibility (CSR) and its integration into firm strategy, firms are engaged in fierce competition, which has gained stakeholders' attention. As intermediary stakeholders, security analysts screen information on firms' CSR activities to make more accurate investment recommendations. Integrating signaling through CSR competition and screening theory, we develop a framework wherein firms' relative CSR performance and improvement across two years are viewed as complementary signals reflecting their ability and intent to engage in CSR and affect analysts' recommendations. Using a panel of Chinese listed firms from 2011 to 2019 (n = 15,735 firm-year observations), we find that analysts respond positively to firms' relative CSR performance. Further analyses show that firms' CSR performance improvement has a decreasingly positive effect on analysts’ recommendations, and this effect is more pronounced for firms with higher relative CSR performance. Our study contributes to the literature on CSR and screening theory by highlighting the value of comparative CSR signals and generates practical implications for participants in CSR competitions.</div></div>","PeriodicalId":47996,"journal":{"name":"British Accounting Review","volume":"56 6","pages":"Article 101298"},"PeriodicalIF":5.5,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0890838923001609/pdfft?md5=b2cd1414f07c72db5ade8c56003b4fa3&pid=1-s2.0-S0890838923001609-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138623821","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Economic policy uncertainty and corporate social responsibility disclosure similarity: Evidence from China 经济政策的不确定性与企业社会责任信息披露的相似性：来自中国的证据

IF 5.5 3区管理学

British Accounting Review Pub Date : 2024-09-01 DOI: 10.1016/j.bar.2023.101305

Xingnan Xue , Liwen Wang , Nan Hu

引用次数: 0

Human capital in the financial sector and corporate innovation: Evidence from China 金融业的人力资本与企业创新：来自中国的证据

IF 5.5 3区管理学

British Accounting Review Pub Date : 2024-09-01 DOI: 10.1016/j.bar.2024.101370

Guanchun Liu , Feng He , Chengsi Zhang , Saeed Akbar , Youwei Li

{"title":"Human capital in the financial sector and corporate innovation: Evidence from China","authors":"Guanchun Liu , Feng He , Chengsi Zhang , Saeed Akbar , Youwei Li","doi":"10.1016/j.bar.2024.101370","DOIUrl":"10.1016/j.bar.2024.101370","url":null,"abstract":"<div><div>This paper investigates how human capital<span><span><span> in the financial sector affects corporate innovation. Based on China's National Economic Census in 2008, we construct a measure of the financial sector's human capital across prefecture-level cities and then match the data with nonfinancial listed firms over 2009–2017. We find that human capital in the financial sector plays a significant and positive role in firms' patent quantity and quality; this effect is more pronounced for firms with higher R&D intensity, more serious financial constraints, lower industry competition and those located in regions with lower bank density and lower marketization levels. Furthermore, the mechanism tests show that debt issuance and R&D investment increase as more highly educated workers flow into the financial sector, while the cost of debt and the cash flow sensitivity of fixed assets investment decrease, consistent with the </span>credit constraints channel. Our findings argue that increasing human capital in the financial sector does not impede corporate innovation but strengthens corporate innovation by reducing the </span>information asymmetry between the financial and productive sectors.</span></div></div>","PeriodicalId":47996,"journal":{"name":"British Accounting Review","volume":"56 6","pages":"Article 101370"},"PeriodicalIF":5.5,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140279340","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

Accounting and reporting for facing multiple values in meso-level hybrid organisations 中层混合组织面对多重价值的会计与报告

IF 5.5 3区管理学

British Accounting Review Pub Date : 2024-09-01 DOI: 10.1016/j.bar.2023.101278

Renata Paola Dameri , Clara Benevolo , Paola Demartini

{"title":"Accounting and reporting for facing multiple values in meso-level hybrid organisations","authors":"Renata Paola Dameri , Clara Benevolo , Paola Demartini","doi":"10.1016/j.bar.2023.101278","DOIUrl":"10.1016/j.bar.2023.101278","url":null,"abstract":"<div><div>This work examines a new form of second-level hybrid, Meso-Level Hybrid Organisations (MLHOs), which do not generate an entity with a legal form or boundaries and are composed by a set of members in the organisational field, linked by multiple relationships and engaged in solving complex problems that require both public and private efforts. Our research interest is in the role that accounting and reporting systems can play in these hybrids, which do not have to comply with mandatory accounting requirements but have to respond to information pressures from their internal and external stakeholders, having different institutional logics and conflicting values and goals. By interpreting accounting and reporting as boundary objects through which value work can be enacted, the research highlights the role that accountants play in recomposing multiple values through participatory processes of designing and implementing an accounting and reporting system. A case study narrated through the discursive lens of ‘mixing, compromising and legitimising mechanisms of value creation among hybrids' shows how the design of a voluntary reporting system can, under certain conditions, strengthen an MHLO. Our findings show that a tailored accounting system can counteract the centrifugal and disruptive forces inherent in these forms of hybrid settings.</div></div>","PeriodicalId":47996,"journal":{"name":"British Accounting Review","volume":"56 6","pages":"Article 101278"},"PeriodicalIF":5.5,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S089083892300135X/pdfft?md5=9f356542a7307c0ee1337080e446fe58&pid=1-s2.0-S089083892300135X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135669209","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Hybrid board governance: Exploring the challenges in implementing social impact measurements 混合董事会治理：探索实施社会影响衡量的挑战

IF 5.5 3区管理学

British Accounting Review Pub Date : 2024-09-01 DOI: 10.1016/j.bar.2024.101359

Anup Banerjee , Martin Carlsson-Wall , Mattias Nordqvist

{"title":"Hybrid board governance: Exploring the challenges in implementing social impact measurements","authors":"Anup Banerjee , Martin Carlsson-Wall , Mattias Nordqvist","doi":"10.1016/j.bar.2024.101359","DOIUrl":"10.1016/j.bar.2024.101359","url":null,"abstract":"<div><div>This paper focuses on hybrid board governance and the challenges faced by the board of directors when implementing social impact measurements. Interviews with 36 board chairs and general secretaries in social hybrids in Sweden show that while boards support social impact measurements, they face obstacles in implementing them. Drawing on the institutional logics framework, we identify three main reasons for these implementation problems. First, amid field level regulations focusing on cost efficiency, boards find it difficult to switch to a social impact that lacks a single metric that can be measured annually. Second, board members struggle to find sufficient time when they serve on a pro bono basis, and it is difficult to hold them accountable when limited progress occurs. Finally, acknowledging board practice variation, we highlight the need to distinguish between “beneficiary-driven” and “membership-driven” social hybrids. In the former, boards face the challenge of operationalizing the long-term benefits for end beneficiaries; in the latter, interactions with members are so operationally focused that boards struggle to maintain a long-term agenda for implementing social impact measurement. Given these challenges, we propose that future research should explicitly incorporate the board level in theorizing how hybrid organizations manage institutional logics and performance measurement.</div></div>","PeriodicalId":47996,"journal":{"name":"British Accounting Review","volume":"56 6","pages":"Article 101359"},"PeriodicalIF":5.5,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0890838924000982/pdfft?md5=e96484354bf6116ab57d276cb6513f3a&pid=1-s2.0-S0890838924000982-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140053619","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Researching the accounting-state-market dynamic in China: A literature review and research agenda 中国会计-国家-市场动态研究：文献综述与研究议程

IF 5.5 3区管理学

British Accounting Review Pub Date : 2024-09-01 DOI: 10.1016/j.bar.2024.101444

Wai Fong Chua , Narisa Tianjing Dai , Zhiyuan (Simon) Tan , Lichen Yu

{"title":"Researching the accounting-state-market dynamic in China: A literature review and research agenda","authors":"Wai Fong Chua , Narisa Tianjing Dai , Zhiyuan (Simon) Tan , Lichen Yu","doi":"10.1016/j.bar.2024.101444","DOIUrl":"10.1016/j.bar.2024.101444","url":null,"abstract":"<div><div>Accounting has long been studied as a social and institutional practice structured by the actions of state agencies and market forces. Such studies are increasingly conducted in non-Western jurisdictions. This paper presents a review of extant studies investigating the dynamic connections among accounting, state agencies, and markets in modern China. Our aim is to critically evaluate extant literature, synthesize its insights, and open up new research avenues. We examine 92 accounting studies, which have been inductively classified into three distinctive thematic clusters. In so doing, three major features of current research are identified: first, an emphasis on the inexorable power of Chinese state agencies; second, a focus on national relations among accounting, state, and market; and third, a lack of attention to how accounting functions in specific local settings. Consequently, key research opportunities lie in (a) deeper theorization of the hybridity of China's state-market mix, (b) analysis of the local-global networks in which hybridity circulates and is manifested, and (c) contemporary studies of accounting in action in a Chinese context.</div></div>","PeriodicalId":47996,"journal":{"name":"British Accounting Review","volume":"56 6","pages":"Article 101444"},"PeriodicalIF":5.5,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0890838924002087/pdfft?md5=29eb611927ad3e897120a22513671c66&pid=1-s2.0-S0890838924002087-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141840623","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Family business origin and investment preference: An empirical study of imprinting theory 家族企业起源与投资偏好：印记理论的实证研究

IF 5.5 3区管理学

British Accounting Review Pub Date : 2024-09-01 DOI: 10.1016/j.bar.2023.101273

Chen Cheng , Suge Zhang , Guanchun Liu

{"title":"Family business origin and investment preference: An empirical study of imprinting theory","authors":"Chen Cheng , Suge Zhang , Guanchun Liu","doi":"10.1016/j.bar.2023.101273","DOIUrl":"10.1016/j.bar.2023.101273","url":null,"abstract":"<div><div><span>Family businesses in China differ acutely with respect to their historical origins. The initial institutional differences based on their origins affect investment behavior, which then impacts on the real economy. This paper investigates how the origins of family businesses affect their investment preferences. Using data on Chinese family firms for the period 2009–2021, we find that family businesses restructured by state-owned enterprises (SOEs) make more financial investments than those established through entrepreneurial activities. The period during which the business is under the control of the founding family and intergenerational succession moderates the differences in investment preferences between restructured and entrepreneurial family businesses, while the time of being as an SOE can strengthen the differences. Mechanism tests demonstrate that restructured family firms (RFFs) participate in less risky activities than entrepreneurial family firms (EFFs), suggesting that preference imprinting contributes to divergent investments. Such a divergence is unlikely to be driven by differences in entrepreneurship, agency costs, or resource endowments. Following robustness tests and after overcoming </span>endogeneity problems, our results remain conclusive. Overall, this study demonstrates that a business’s risk propensity during its founding phase has a long-term impact on future preferences.</div></div>","PeriodicalId":47996,"journal":{"name":"British Accounting Review","volume":"56 6","pages":"Article 101273"},"PeriodicalIF":5.5,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135515189","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