Journal of Accounting and Public Policy最新文献_第10页

Support for pension reforms: What is the role of financial literacy and pension knowledge? 支持养老金改革:金融知识和养老金知识的作用是什么?

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-07-01 DOI: 10.1016/j.jaccpubpol.2023.107096

Noemi Oggero , Francesco Figari , Elsa Fornero , Mariacristina Rossi

引用次数: 1

Insider trading, future earnings, and post-earnings announcement drift 内幕交易、未来收益和收益后公告都在漂移

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-07-01 DOI: 10.1016/j.jaccpubpol.2023.107117

Lyungmae Choi , Lucile Faurel , Stephen A. Hillegeist

{"title":"Insider trading, future earnings, and post-earnings announcement drift","authors":"Lyungmae Choi , Lucile Faurel , Stephen A. Hillegeist","doi":"10.1016/j.jaccpubpol.2023.107117","DOIUrl":"https://doi.org/10.1016/j.jaccpubpol.2023.107117","url":null,"abstract":"<div><p>This paper examines the association between insider trading prior to quarterly earnings announcements and the magnitude of the post-earnings announcement drift (PEAD). We conjecture and find that insider trades reflect insiders’ private information about the persistence of earnings news. Thus, insider trades can help investors better understand and incorporate the time-series properties of quarterly earnings into stock prices in a timely and unbiased manner, thereby mitigating PEAD. As predicted, PEAD is significantly lower when earnings announcements are preceded by insider trading. The reduction in PEAD is driven by contradictory insider trades (i.e., net buys before large negative earnings news or net sells before large positive earnings news) and is more pronounced in the presence of more sophisticated market participants. Consistent with investors extracting and trading on insiders’ private information, pre-announcement insider trading is associated with smaller market reactions to future earnings news in each of the four subsequent quarters. Overall, our findings indicate insider trading contributes to stock price efficiency by conveying insiders’ private information about future earnings and especially the persistence of earnings news.</p></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2023-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49716791","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

Management earnings forecast and financial statement complexity 管理层盈利预测与财务报表复杂性

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-07-01 DOI: 10.1016/j.jaccpubpol.2023.107072

Yoshikazu Ishinagi , Atsushi Shiiba

引用次数: 0

Fiscal-audit separation and government disclosure quality 财政审计分离与政府信息披露质量

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-07-01 DOI: 10.1016/j.jaccpubpol.2023.107100

Oliver Zhen Li , Wenruo Wu , Lijun Xia , Qi Zhang

引用次数: 0

Evidence from the adoption of IFRS 9 and the impact of COVID-19 on lending and regulatory capital on Spanish Banks 采用国际财务报告准则第9号的证据以及新冠肺炎对西班牙银行贷款和监管资本的影响

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-07-01 DOI: 10.1016/j.jaccpubpol.2023.107097

Germán López-Espinosa , Fernando Penalva

{"title":"Evidence from the adoption of IFRS 9 and the impact of COVID-19 on lending and regulatory capital on Spanish Banks","authors":"Germán López-Espinosa , Fernando Penalva","doi":"10.1016/j.jaccpubpol.2023.107097","DOIUrl":"10.1016/j.jaccpubpol.2023.107097","url":null,"abstract":"<div><p>This paper provides early descriptive evidence on the effect of the adoption of IFRS 9 and COVID-19 on banks’ lending and regulatory capital. Using a sample of Spanish quoted banks, we find that the implementation of IFRS 9 resulted in an increase in the timeliness of loan loss recognition, and it only had a negative effect on lending for small banks that are timelier in recognizing expected credit losses. Timelier banks, large and small, increased their Tier 1 regulatory capital after the implementation of IFRS 9, although larger banks to a greater extent. Despite the extraordinary economic stimulus measures taken during the COVID-19 shock, there is a reduction in lending for small banks that are timelier in recognizing expected credit losses, and an increase in Tier 1 capital for timelier large banks. These results are not inconsistent with IFRS 9 having some procyclical traits, as it is not possible to anticipate truly unexpected shocks like COVID-19. The fact that IFRS 9 is more forward looking than its predecessor IAS 39, and that the observed effects are mild suggests that IFRS 9 is likely less procyclical than IAS 39.</p></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2023-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48500974","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

Does reporting quality affect systematic risk? Evidence from a regulatory lottery 报告质量是否会影响系统风险？来自监管彩票的证据

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-07-01 DOI: 10.1016/j.jaccpubpol.2023.107116

Linus Siming

引用次数: 0

Managerial labor mobility and banks’ financial reporting quality 管理层劳动力流动性与银行财务报告质量

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-05-01 DOI: 10.1016/j.jaccpubpol.2022.107058

Saeyeon Oh, Kwangwoo Park

引用次数: 0

The impact of financial reporting flexibility on auditor risk judgement: Evidence from the implementation of FIN 46R 财务报告灵活性对审计师风险判断的影响:来自《财务报告准则》实施的证据

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-05-01 DOI: 10.1016/j.jaccpubpol.2023.107084

Chen Chen , Winnie S.C. Leung , Xuedan Tao , Huabing Wang

{"title":"The impact of financial reporting flexibility on auditor risk judgement: Evidence from the implementation of FIN 46R","authors":"Chen Chen , Winnie S.C. Leung , Xuedan Tao , Huabing Wang","doi":"10.1016/j.jaccpubpol.2023.107084","DOIUrl":"10.1016/j.jaccpubpol.2023.107084","url":null,"abstract":"<div><p>This paper investigates how auditors respond, in terms of their pricing and audit work, to a reduction of clients’ financial reporting discretion upon the implementation of FIN 46R, which requires firms to consolidate the variable interest entities (VIE) under their control. Using a difference-in-differences research design, we find that auditors charge relatively fewer audit fees and have shorter audit report lags for firms that are significantly affected by FIN 46R, compared to a group of control firms. This result concurs with the view that auditors react favorably to the reduction of clients’ financial reporting discretion. Our finding is concentrated among clients with higher accrual earnings management constraints, auditors with less client-specific knowledge, and auditors who have no recent experience of audit failures (e.g., severe client restatements). Our results are robust to alternative identifications of treatment and control samples, and our conclusion remains valid after controlling for the contemporaneous adoption of Sarbanes-Oxley (SOX) Act. We also show that the relatively reduced audit fees and audit effort do not lead to the deterioration of audit quality.</p></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49107241","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

An evaluation of root cause analysis use by internal auditors 对内部审核员使用的根本原因分析进行评估

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-05-01 DOI: 10.1016/j.jaccpubpol.2023.107081

F. Todd DeZoort , Troy J. Pollard

{"title":"An evaluation of root cause analysis use by internal auditors","authors":"F. Todd DeZoort , Troy J. Pollard","doi":"10.1016/j.jaccpubpol.2023.107081","DOIUrl":"10.1016/j.jaccpubpol.2023.107081","url":null,"abstract":"<div><p>The objective of this study is to increase understanding of internal auditor use of root cause analysis (RCA). The IIA’s Practice Advisory 2320–2: <em>Root Cause Analysis</em> (IIA 2011) states that RCA should be a core competency for internal auditors to provide insight and add value within organizations. However, little is known about internal auditor use of RCA in a profession where normative problem-solving theory and RCA frameworks potentially conflict with professional demands for independence and objectivity. We conduct in-depth interviews with 21 high-level internal auditors with RCA experience to understand use within the profession. The results suggest several overarching themes that have implications for policymakers, researchers, and practitioners. First, we find that internal auditors in practice believe that RCA is a very important tool within the profession. Second, although internal auditors generally claim to understand RCA, we find considerable variation in the ways they approach the construct and implement prescribed processes in practice. Finally, the results indicate that while RCA use is reasonably prevalent among internal auditors, knowledge constraints, resource limitations, and concern about independence and objectivity create considerable variation in terms of RCA approach, rigor, and efficacy within organizations.</p></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":null,"pages":null},"PeriodicalIF":3.6,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42371862","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 SEC revolving door and comment letters 美国证券交易委员会旋转门和评论信

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2023-05-01 DOI: 10.1016/j.jaccpubpol.2023.107080

Michael Shen , Samuel T. Tan

引用次数: 0