Journal of Accounting and Public Policy最新文献_第2页

The impact of capping the SALT deduction on municipal bond pricing 限制SALT扣除对市政债券定价的影响

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-04-11 DOI: 10.1016/j.jaccpubpol.2025.107312

Mikhail Pevzner , Alan Reinstein , Matthew Wynter , Tong Yao

引用次数: 0

The real effects of disclosure in going private deals 披露对私有化交易的真正影响

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-04-11 DOI: 10.1016/j.jaccpubpol.2025.107316

Pietro A. Bianchi , Miguel Minutti-Meza , Maria Vulcheva , Yini Wang

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Initial evidence on the content and market implications of stablecoin reserve reporting 关于稳定币储备报告内容和市场影响的初步证据

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-04-10 DOI: 10.1016/j.jaccpubpol.2025.107309

Steven A. Maex , Stefan Slavov

{"title":"Initial evidence on the content and market implications of stablecoin reserve reporting","authors":"Steven A. Maex , Stefan Slavov","doi":"10.1016/j.jaccpubpol.2025.107309","DOIUrl":"10.1016/j.jaccpubpol.2025.107309","url":null,"abstract":"<div><div>Stablecoins are cryptocurrencies intended to maintain consistent value against a reference asset (e.g., pegged 1:1 to the US dollar). Their rapid adoption in the absence of federal regulation has raised concerns about the risks they pose to financial markets. In this study, we describe the evolving stablecoin ecosystem and explore the content and market implications of stablecoin reserve reporting. We hand-collect reserve reports issued since 2018 by the largest US dollar-backed stablecoins and develop a transparency index that captures the extent to which disclosures address the sufficiency of issuer assets available for redemption. We find that reserve report transparency varies across stablecoins and over time. Additionally, after enactment of the first state-level reserve report disclosure regulation in 2022, transparency increases for both coins subject and not subject to this regulation. Lastly, despite the relative nascency of the stablecoin marketplace and the reserve report as a disclosure medium, we find that reserve report transparency is associated with greater stablecoin price stability and higher stablecoin adoption (i.e., market capitalization). These effects are pronounced in periods of cryptocurrency market volatility. This early evidence suggests that reserve reporting serves a valuable function in the stablecoin ecosystem.</div></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"51 ","pages":"Article 107309"},"PeriodicalIF":3.3,"publicationDate":"2025-04-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143807129","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

Key audit matters as insights into auditors’ professional judgement: Evidence from the European Union 关键审计事项对审计师职业判断的洞察：来自欧盟的证据

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-04-01 DOI: 10.1016/j.jaccpubpol.2025.107311

Mara Cameran , Domenico Campa

{"title":"Key audit matters as insights into auditors’ professional judgement: Evidence from the European Union","authors":"Mara Cameran , Domenico Campa","doi":"10.1016/j.jaccpubpol.2025.107311","DOIUrl":"10.1016/j.jaccpubpol.2025.107311","url":null,"abstract":"<div><div>The European Union (EU) Regulation 537/2014 introduced the mandatory disclosure of Key Audit Matters (KAMs) within an auditor’s report, with the aim of increasing the informational value of these reports. Extant research, however, shows contrasting results as to whether KAM disclosure is providing relevant information to stakeholders. Moreover, concerns have been raised about unintended consequences from KAM disclosure, with respect to the process that leads to the issuance of the audit report. Using a sample of 6,164 firm-year observations for the period 2017–2021, related to 1,660 unique firms listed in all EU Member States, we find that the number of KAMs is positively associated with audit fees, audit report lags and the probability that an opinion different from the standard unqualified opinion is issued. Moreover, we document that both KAMs related to entity-level and account-level risks are positively associated with audit fees, whereas only entity-level KAMs drive the positive association with audit report lags and the issuance of a modified opinion. Our research speaks directly to EU legislators, the International Auditing and Assurance Standards Board, the US Public Company Accounting Oversight Board, and any other regulators around the globe that have mandated the disclosure of KAMs within audit reports.</div></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"51 ","pages":"Article 107311"},"PeriodicalIF":3.3,"publicationDate":"2025-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143738258","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

Stakeholder orientation and accounting conservatism: Evidence from State-Level constituency statutes 利益相关者导向与会计稳健性：来自州级选区法规的证据

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-03-28 DOI: 10.1016/j.jaccpubpol.2025.107295

Suresh Radhakrishnan , Ke Wang , Zheng Wang

引用次数: 0

Monitoring incentives and tax planning – Evidence from State-Owned enterprises 监督激励与税收筹划——来自国有企业的证据

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-03-27 DOI: 10.1016/j.jaccpubpol.2025.107307

Eva Eberhartinger , David M.P. Samuel

引用次数: 0

The role of United States boards of accountancy in monitoring and sanctioning CPA Misbehavior 美国会计委员会在监督和制裁注册会计师不当行为中的作用

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-03-25 DOI: 10.1016/j.jaccpubpol.2025.107310

Lindsay M. Andiola , Bowe Hansen , Kyungeun Karry Kwon , J. Matthew Sarji

引用次数: 0

Product advertising and financial analyst forecasts 产品广告和财务分析师预测

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-03-20 DOI: 10.1016/j.jaccpubpol.2025.107306

Heeick Choi , SeungWon Lee , Inho Suk , Hao Zhang

引用次数: 0

Skin in the game: Does outside directors’ equity-based compensation induce or mitigate stock price crash risk? 参与其中：外部董事的股权薪酬是否会引发或减轻股价崩盘风险？

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-03-18 DOI: 10.1016/j.jaccpubpol.2025.107308

Yuting Qian , Bo Qin , Weiqiang Tan , Daifei Troy Yao

引用次数: 0

Significant expected lifetime credit loss impairments: Determinants of bank loss recognition and stability implications 重大预期终身信贷损失减值：银行损失确认和稳定性影响的决定因素

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-03-17 DOI: 10.1016/j.jaccpubpol.2025.107305

Sebastian Fleer

{"title":"Significant expected lifetime credit loss impairments: Determinants of bank loss recognition and stability implications","authors":"Sebastian Fleer","doi":"10.1016/j.jaccpubpol.2025.107305","DOIUrl":"10.1016/j.jaccpubpol.2025.107305","url":null,"abstract":"<div><div>This paper explores how a recognition threshold approach for significant expected lifetime credit losses (ELCL) affects the joint surplus of a bank's debtholders and shareholders (bank social value). Banks play a dual role in the economy by supplying credit to the real sector and providing liquidity to depositors. Information released on ELCL induces sound risk-taking in credit supply while potentially distorting the bank's liquidity provision. A recognition threshold for ELCL can balance these social gains and costs by restricting ELCL recognition for a transaction to extreme outcomes. In this balancing act, the recognition threshold enhances a bank's social value by providing sufficient incentives for sound risk-taking while decreasing the social costs of liquidity disruption. Less favorable economic conditions necessitate tighter recognition thresholds to sustain sound risk-taking, which inflates the social costs of liquidity disruption. When these costs become excessive, the balance is disrupted, and forgoing ELCL recognition can enhance the bank's social value. While this practice safeguards stability in the short run, it ultimately undermines it in the long run. From a policy perspective, the results highlight the value of the principle-based notion of IFRS 9's significant increase in credit risk (SICR) criterion to address bank-specific trade-offs and increase a bank's social value. Uniformity of recognition thresholds can be demonstrated for at least a subset of banks. Lastly, the paper emphasizes that a recognition threshold approach does not maximize the social value of a bank, and more complex disclosure rules can further increase it.</div></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"51 ","pages":"Article 107305"},"PeriodicalIF":3.3,"publicationDate":"2025-03-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143632018","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