Journal of Accounting and Public Policy最新文献_第5页

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

Access to IT-Capable employees and the relevance of financial information 有it能力的员工和相关的财务信息

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-03-03 DOI: 10.1016/j.jaccpubpol.2025.107284

J. Philipp Klaus , Adi Masli , Pradeep Sapkota

引用次数: 0

Can innovative enforcement mechanism work in weak investor protection Countries? Evidence from China 创新的执法机制能否在投资者保护薄弱的国家发挥作用？来自中国的证据

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-02-23 DOI: 10.1016/j.jaccpubpol.2025.107294

Chenyu Zhang , Jingyan Li , Deqiu Chen , Xu Lou

{"title":"Can innovative enforcement mechanism work in weak investor protection Countries? Evidence from China","authors":"Chenyu Zhang , Jingyan Li , Deqiu Chen , Xu Lou","doi":"10.1016/j.jaccpubpol.2025.107294","DOIUrl":"10.1016/j.jaccpubpol.2025.107294","url":null,"abstract":"<div><div>We examine the effect of China Securities Investor Services Center (ISC) shareholding, a joint public–private enforcement mechanism, on mergers and acquisitions (M&As). Employing a difference-in-differences (DID) analysis, we demonstrate that acquirers whose shares are owned by the ISC (ISC acquirers) encounter more price-related M&A withdrawals, more bid revisions, and shorter deal durations. Such effects are mainly driven by weak investor protection environments, lack of external supervision, and information asymmetry. Mechanism analysis indicates that ISC shareholding has monitoring and demonstration effects by drawing public attention and encouraging minority shareholder activism. Furthermore, ISC acquirers experience positive market reactions on withdrawal announcements and better long-term performance, such as higher stock returns, lower goodwill impairment, and better financial performance. Overall, our study suggests that as a joint public–private enforcement mechanism, ISC shareholding can protect minority shareholders’ interests, especially when the investor protection is weak. Our findings enrich the understanding of the enforcement mechanisms in emerging markets.</div></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"50 ","pages":"Article 107294"},"PeriodicalIF":3.3,"publicationDate":"2025-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143471529","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

Too much of a good thing? Mandatory risk disclosure and corporate innovation 好事过犹不及？强制性风险披露与企业创新

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-02-22 DOI: 10.1016/j.jaccpubpol.2025.107292

Shiu-Yik Au , Hongping Tan

引用次数: 0

The impact of joint provision of audit and tax services on the advice of tax professionals 联合提供审计和税务服务对税务专业人员意见的影响

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-02-21 DOI: 10.1016/j.jaccpubpol.2025.107293

Devan Mescall, Regan N. Schmidt

{"title":"The impact of joint provision of audit and tax services on the advice of tax professionals","authors":"Devan Mescall, Regan N. Schmidt","doi":"10.1016/j.jaccpubpol.2025.107293","DOIUrl":"10.1016/j.jaccpubpol.2025.107293","url":null,"abstract":"<div><div>Prior public policy research has questioned the impact of joint provision of audit and non-audit services by examining auditor behavior and audit quality. This study contributes to the public policy debate by examining the behavior of the non-audit service provider, specifically tax professionals. The results of an experiment provide the first evidence that joint provision of audit and tax services impacts the judgments of the tax professional and reduces the aggressiveness of tax advice provided by experienced tax professionals, consistent with ingroup behavioral theory. In addition, tax professionals’ assessments of uncertainty—the basis for financial statement reserve recognition—are relatively greater when their firm is providing joint audit and tax services. Tax uncertainty assessments mediate the relationship between service provision and tax aggressive advice. Collectively, this study informs the public policy debate by demonstrating that joint provision of audit and non-audit services impacts the non-audit service provided by the same firm and provides clarity on how public policy may decrease tax aggressive advice.</div></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"50 ","pages":"Article 107293"},"PeriodicalIF":3.3,"publicationDate":"2025-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143453804","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

Disclosure of off-balance sheet financing and financial reporting quality 披露表外融资和财务报告质量

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-02-03 DOI: 10.1016/j.jaccpubpol.2025.107285

Tae-Nyun Kim, Yutong Xie

引用次数: 0

Financial reporting during gloomy days: Air pollution and real earnings management 阴霾时期的财务报告：空气污染与实际盈余管理

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-01-29 DOI: 10.1016/j.jaccpubpol.2025.107283

Huaxi Zhang , Byungcherl Charlie Sohn , Kexin Zhang

{"title":"Financial reporting during gloomy days: Air pollution and real earnings management","authors":"Huaxi Zhang , Byungcherl Charlie Sohn , Kexin Zhang","doi":"10.1016/j.jaccpubpol.2025.107283","DOIUrl":"10.1016/j.jaccpubpol.2025.107283","url":null,"abstract":"<div><div>We investigate whether long-term exposure to polluted air affects a firm’s real earnings management (REM). Using a sample of U.S. listed firms and <em>Visibility</em>, a novel measure of air pollution, we find that firms whose managers and employees are exposed to polluted air are more likely to engage in short-term-oriented REM. However, these firms do not show significant differences in accrual-based earnings management (AEM). A one standard deviation decrease in <em>Visibility</em> is associated with a 24.3 percent increase in REM. Interestingly, this effect is disproportionately associated with the overproduction of inventory and cuts in discretionary expenses, rather than in the manipulation of sales prices or credit terms. The impact of polluted air on REM is more pronounced in firms with high analyst pressure, no credit rating, low institutional ownership, or poor corporate governance. The results suggest the existence of earnings-target-oriented managerial myopia among firms exposed to polluted air. Cognitive biases among managers and reduced employee productivity, both induced by air pollution, are potential channels through which polluted air triggers firms’ myopic earnings management behaviors.</div></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"50 ","pages":"Article 107283"},"PeriodicalIF":3.3,"publicationDate":"2025-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143158174","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

Earnings management by banks through loan loss provisioning during downturns 银行在经济低迷时期通过拨备贷款损失进行的盈余管理

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-01-21 DOI: 10.1016/j.jaccpubpol.2025.107282

Alessandra Allini , Martina Prisco , David A. Ziebart , Riccardo Macchioni

{"title":"Earnings management by banks through loan loss provisioning during downturns","authors":"Alessandra Allini , Martina Prisco , David A. Ziebart , Riccardo Macchioni","doi":"10.1016/j.jaccpubpol.2025.107282","DOIUrl":"10.1016/j.jaccpubpol.2025.107282","url":null,"abstract":"<div><div>This study investigates whether and how downturns affect earnings management through loan loss provisioning in banks with poor performance. We capture downturns using three different crises that have significantly impacted the banking context, i.e., the Global Financial Crisis, the Sovereign Debt Crisis, and the Covid-19 pandemic. Based on a sample of 1,430 United States and European Union banks, we find that banks with negative pre-managed earnings recognize higher loan loss provisions to adjust downward earnings during downturns. Further tests show that such higher provisions are not significantly associated with future net charge-offs, whereas they are positively associated with future returns on assets. Collectively, empirical evidence suggests that banks with negative pre-managed earnings recognize higher than necessary losses during downturns to report better future performance. This study contributes to previous literature on earnings management by banks and offers insightful practical implications to regulators, policymakers, and investors, who are interested in evaluating the quality of financial reporting.</div></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"50 ","pages":"Article 107282"},"PeriodicalIF":3.3,"publicationDate":"2025-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143158176","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

Bribes and audit fees 贿赂及审计费用

IF 3.3 3区管理学

Journal of Accounting and Public Policy Pub Date : 2025-01-01 DOI: 10.1016/j.jaccpubpol.2024.107277

Stavriana Hadjigavriel , María Gutiérrez-Urtiaga , Susana Gago-Rodríguez

引用次数: 0