Journal of Accounting and Public Policy最新文献_第6页

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

Environmental and university opportunity factors and CPA exam performance 环境和大学机遇因素与注册会计师考试成绩

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-04-10 DOI: 10.1016/j.jaccpubpol.2024.107208

Arya Espahbodi , Hassanali Espahbodi , Linda Espahbodi , Reza Espahbodi , Rosemary Walker , G. Thomas White

引用次数: 0

Cross-border listed firms’ IFRS-based financial reports: Are they comparable? 跨境上市公司基于《国际财务报告准则》的财务报告：它们具有可比性吗？

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-04-09 DOI: 10.1016/j.jaccpubpol.2024.107207

Francesco De Luca , Jenice Prather-Kinsey , Sedat Erdogan , Ho-Tan-Phat Phan

{"title":"Cross-border listed firms’ IFRS-based financial reports: Are they comparable?","authors":"Francesco De Luca , Jenice Prather-Kinsey , Sedat Erdogan , Ho-Tan-Phat Phan","doi":"10.1016/j.jaccpubpol.2024.107207","DOIUrl":"https://doi.org/10.1016/j.jaccpubpol.2024.107207","url":null,"abstract":"<div><p>Variations in the enforcement of International Financial Reporting Standards (IFRS) across legal jurisdictions create skepticism about the degree of financial statement comparability (hereafter, “comparability”) of cross-border-listed (CBL) firms. This study tested whether IFRS financial reports of CBL firms domiciled in different legal environments are comparable. We examined the effects of differences in the legal enforcement of jurisdictions on comparability. We assessed comparability using an output-based method on a sample of CBL firms domiciled in 42 countries. The results do not provide evidence of comparability in the IFRS-based financial reports of different legal environments. The results also indicate that differences in legal enforcement are negatively associated with comparability. We also find evidence that the use of Big Four (Big 4) auditing services by CBL firms provides better comparability than the use of non-Big 4 services. These results suggest that CBL firms supplement country-level deficiencies in mandatory regulatory enforcement with voluntary firm-level structures such as auditor choice.</p></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"45 ","pages":"Article 107207"},"PeriodicalIF":3.6,"publicationDate":"2024-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140539159","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

Audit committee–CFO political dissimilarity and financial reporting quality 审计委员会与财务总监的政治分歧与财务报告质量

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-04-08 DOI: 10.1016/j.jaccpubpol.2024.107209

Robert Felix , Sattar Mansi , Mikhail Pevzner

引用次数: 0

Narrative R&D disclosure and insider trading profitability: Evidence from China 研发信息披露与内幕交易盈利能力：来自中国的证据

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-04-06 DOI: 10.1016/j.jaccpubpol.2024.107210

Wan Huang , Qingwen Liang

{"title":"Narrative R&D disclosure and insider trading profitability: Evidence from China","authors":"Wan Huang , Qingwen Liang","doi":"10.1016/j.jaccpubpol.2024.107210","DOIUrl":"https://doi.org/10.1016/j.jaccpubpol.2024.107210","url":null,"abstract":"<div><p>This paper investigates how narrative R&D disclosures affect firms’ information asymmetry from the perspective of insider trading profitability. Inconsistent with the traditional information economics theory that information disclosure can alleviate information asymmetry, we find robust evidence that insiders in firms with more narrative R&D disclosures gain significantly greater returns from their stock selling, but this positive relation is attenuated when the readability of R&D-related texts is higher. We examine two potential channels through which more narrative R&D disclosures increase information asymmetry, thus creating opportunities for insiders to trade profitably. One is managers’ obfuscation disclosure of narrative R&D information due to proprietary costs, and the other is the high information processing costs associated with the technical nature of R&D information. We also find that good corporate governance mechanisms can weaken the positive association between narrative R&D disclosure and insider trading profitability. In further analysis, we provide evidence that more narrative R&D disclosures indeed exert high information processing costs for investors and provide opportunities for insiders to trade more before bad news arrives. Overall, our research sheds light on the dark side of narrative R&D disclosure on firms’ information environment from the perspective of insider trading.</p></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"45 ","pages":"Article 107210"},"PeriodicalIF":3.6,"publicationDate":"2024-04-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140535450","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

Foreign exchange risk and audit pricing: Evidence from U.S. multinational corporations 外汇风险与审计定价：来自美国跨国公司的证据

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-04-04 DOI: 10.1016/j.jaccpubpol.2024.107196

Yuyuan Chang , Yangyang Fan , Lixin Nancy Su

引用次数: 0

Theoretical analysis of non-deductible expenses: Implications for the design of compensation contracts 不可抵扣费用的理论分析：对补偿合同设计的影响

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-04-02 DOI: 10.1016/j.jaccpubpol.2024.107195

Yutaro Murakami , Toshiaki Wakabayashi

引用次数: 0

Does the risk aversion of accountants matter? Female rank-and-file accounting employees and internal control quality 会计师的风险规避能力重要吗？女性普通会计员工与内部控制质量

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-03-19 DOI: 10.1016/j.jaccpubpol.2024.107194

Chuchu Liang , Ben Lourie , Alexander Nekrasov

引用次数: 0

Economic consequences of expanding sales tax nexus: Evidence from stock price reactions to the Wayfair decision 扩大销售税关系的经济后果：从股价对 Wayfair 决定的反应中得出的证据

IF 3.6 3区管理学

Journal of Accounting and Public Policy Pub Date : 2024-03-01 DOI: 10.1016/j.jaccpubpol.2024.107190

Thomas R. Kubick , Thomas C. Omer , Courtney E. Yazzie

{"title":"Economic consequences of expanding sales tax nexus: Evidence from stock price reactions to the Wayfair decision","authors":"Thomas R. Kubick , Thomas C. Omer , Courtney E. Yazzie","doi":"10.1016/j.jaccpubpol.2024.107190","DOIUrl":"https://doi.org/10.1016/j.jaccpubpol.2024.107190","url":null,"abstract":"<div><p>We analyze investor reactions to the United States Supreme Court decision in <em>South Dakota v. Wayfair, Inc., Overstock.com, Inc., and Newegg, Inc.</em> (hereafter <em>Wayfair</em>), which overturned decades of judicial doctrine related to sales tax nexus. <em>Wayfair's</em> precedent provides a broadening of sales tax nexus and a significant increase in compliance costs. It also levels the playing field by requiring more firms without a physical presence to collect sales tax. We document negative stock market reactions surrounding the date the Supreme Court agreed to hear the case and the date the decision was announced for firms likely to experience increased compliance costs and a decrease in market share. In contrast, we observe positive market reactions for firms likely to benefit from states requiring firms lacking a physical presence to collect sales tax. Additional tests reveal that investments in auditor-provided tax and non-audit services increased, and the accuracy of analyst earnings forecasts decreased for firms most likely negatively affected by the decision. We also show that our sample firms identified as likely to be positively (negatively) affected by <em>Wayfair</em> experienced increased sales (operating costs) following the decision. Our results reveal that the court-induced expansion of the sales tax nexus doctrine significantly influenced investor perceptions of the costs and benefits for affected firms.</p></div>","PeriodicalId":48070,"journal":{"name":"Journal of Accounting and Public Policy","volume":"44 ","pages":"Article 107190"},"PeriodicalIF":3.6,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140030899","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