Journal of Accounting and Public Policy最新文献_第3页

Could financial education be a universal social policy? A simulation of potential influences on inequality levels 金融教育能否成为一项普遍的社会政策？模拟对不平等程度的潜在影响

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-07-01 DOI: 10.1016/j.jaccpubpol.2024.107231

Giovanni Gallo , Alessia Sconti

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引用次数: 0

Use of comment letters for mergers and acquisitions in a setting with weak investor protection: The Chinese experience 在投资者保护薄弱的环境中使用意见函进行并购：中国经验

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-06-19 DOI: 10.1016/j.jaccpubpol.2024.107227

Kefu Lyu , Huiying Wu , Sammy Xiaoyan Ying , Jiaxing You

{"title":"Use of comment letters for mergers and acquisitions in a setting with weak investor protection: The Chinese experience","authors":"Kefu Lyu , Huiying Wu , Sammy Xiaoyan Ying , Jiaxing You","doi":"10.1016/j.jaccpubpol.2024.107227","DOIUrl":"https://doi.org/10.1016/j.jaccpubpol.2024.107227","url":null,"abstract":"<div><p>We adopt a principal–principal perspective to examine whether comment letters for mergers and acquisitions (M&A) protect shareholders, particularly minority shareholders, of acquiring firms in China, where investor protection is weak. This public enforcement tool has several features: (i) regulators provide detailed comments on various matters, (ii) various stakeholders are called upon to respond, and (iii) failure to adequately address the comments to the satisfaction of regulators results in M&A applications being rejected. Our main results show that M&A comment letters affect the outcome of M&A transactions by reducing acquisition premium and improving the fulfillment of performance commitment. Furthermore, this effect is more pronounced when the principal–principal conflict is more severe, as indicated by a greater divergence between cash flow rights and control rights, along with weaker monitoring by multiple large shareholders. Our results suggest that M&A comment letters, if used appropriately, effectively enhance investor protection in less developed economies. We contribute to the literature by providing new evidence of the effects of M&A comment letters in settings with weak investor protection.</p></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"46 ","pages":"Article 107227"},"PeriodicalIF":3.6,"publicationDate":"2024-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141429243","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 public disclosures of investments in tax planning attract monitoring by tax authorities? 公开披露税务筹划投资是否会引起税务机关的监督？

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-06-14 DOI: 10.1016/j.jaccpubpol.2024.107224

Eric T. Rapley , Pradeep Sapkota , James Stekelberg

{"title":"Do public disclosures of investments in tax planning attract monitoring by tax authorities?","authors":"Eric T. Rapley , Pradeep Sapkota , James Stekelberg","doi":"10.1016/j.jaccpubpol.2024.107224","DOIUrl":"https://doi.org/10.1016/j.jaccpubpol.2024.107224","url":null,"abstract":"<div><p>Given the returns to investments in tax planning documented by prior studies, we predict that disclosures of investments in tax planning required by the SEC could inform tax authorities about the benefits of examining particular firms. Consistent with this notion, we find that the amount of tax non-audit services fees a firm reports in the current year is significantly associated with multiple measures of tax authority monitoring over the subsequent years. This result is stronger among firms with greater bargaining power who may be able to demand more aggressive tax planning advice from their auditors. Additionally, we find that our results are concentrated within non-audit fees related to tax planning, rather than tax compliance. Our findings contribute to research on tax enforcement and auditor-provided tax services, and have practical implications for firms considering purchasing tax services from their auditors and corporate stakeholders assessing firms’ potential exposure to tax enforcement. Further, our study has public policy implications by providing evidence of an unintended consequence of SEC disclosure requirements.</p></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"46 ","pages":"Article 107224"},"PeriodicalIF":3.6,"publicationDate":"2024-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141323603","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

Empirical evidence on disclosing cyber breaches in an 8-K report: Initial exploratory evidence 在 8-K 报告中披露网络漏洞的经验证据：初步探索性证据

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-06-14 DOI: 10.1016/j.jaccpubpol.2024.107226

Lawrence A. Gordon , Martin P. Loeb , Lei Zhou , Amanda L. Wilford

引用次数: 0

Creditor enforcement and accounting quality: A natural experiment 债权人强制执行与会计质量：自然实验

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-06-12 DOI: 10.1016/j.jaccpubpol.2024.107214

Siddharth M. Bhambhwani

引用次数: 0

IFRS 7 adoption and bank risk taking 国际财务报告准则》第 7 号的采用与银行风险承担

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-06-07 DOI: 10.1016/j.jaccpubpol.2024.107225

Gerald J. Lobo , Chong Wang , Feng (Harry) Wu

引用次数: 0

Do U.S. multinationals use income shifting to facilitate and hide corruption? 美国跨国公司是否利用收入转移来协助和掩盖腐败？

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-05-31 DOI: 10.1016/j.jaccpubpol.2024.107213

Paul Demeré , Jeffrey Gramlich , Yoonsoo Nam

引用次数: 0

Do auditors favor clients with government favoritism? 审计师是否会偏袒有政府恩惠的客户？

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-05-28 DOI: 10.1016/j.jaccpubpol.2024.107215

Yang Xuan , Xingqiang Yin , Joseph H. Zhang

引用次数: 0

Financial information, spillovers, and innovation performance 金融信息、溢出效应和创新绩效

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-05-01 DOI: 10.1016/j.jaccpubpol.2024.107212

Jae B. Kim , Jonghwan (Simon) Kim , KwangJoo Koo

{"title":"Financial information, spillovers, and innovation performance","authors":"Jae B. Kim , Jonghwan (Simon) Kim , KwangJoo Koo","doi":"10.1016/j.jaccpubpol.2024.107212","DOIUrl":"https://doi.org/10.1016/j.jaccpubpol.2024.107212","url":null,"abstract":"<div><p>We hypothesize that high-quality financial information can, through its spillovers to peer firms’ strategic decision-making, have an adverse effect on the disclosing firm’s innovation performance. Using the degree of disaggregation in financial reports and patent-based measures to proxy for financial information quality and significance of innovative outputs, respectively, we find that the patented inventions of firms with more disaggregated financial reports are less innovative. We also document that the negative association is more pronounced for firms with more intense product market threats, a situation in which the spillover of more detailed information is costlier. We further validate our argument by documenting that disclosures of more and finer information actually help peers increase innovation activities and investments, consistent with the peers’ effective strategic responses to the disclosing firm’s innovation. Overall, the results from the cross-sectional analysis and validation tests confirm the channel through which more disaggregated financial information can lead to a decline in firm innovation performance. This study contributes to the literatures on information spillovers, economic consequences of financial reporting, proprietary costs of disclosures, and innovation.</p></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"45 ","pages":"Article 107212"},"PeriodicalIF":3.6,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140900896","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

To tell or not to tell? Examining voluntary disclosure of customers’ identities under capital market pressure 说还是不说？研究在资本市场压力下自愿披露客户身份的问题

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-04-22 DOI: 10.1016/j.jaccpubpol.2024.107211

Yue Xu , Guilong Cai , Ting Zhang

引用次数: 0