Journal of Business Finance & Accounting最新文献_第3页

Environmental policy and audit pricing 环境政策和审计定价

IF 2.2 3区管理学

Journal of Business Finance & Accounting Pub Date : 2024-03-29 DOI: 10.1111/jbfa.12799

Monika K. Rabarison, Ibrahim Siraj, Bin Wang

引用次数: 0

Does corporate governance matter in competitive industries? Evidence from brokerage mergers and closures 公司治理在竞争性行业中重要吗？来自经纪公司兼并和关闭的证据

IF 2.2 3区管理学

Journal of Business Finance & Accounting Pub Date : 2024-03-27 DOI: 10.1111/jbfa.12797

Savannah (Yuanyuan) Guo, Pritam Saha, Leyuan You, Michael Zheng

引用次数: 0

The beguiling behaviour of narcissistic CEOs: Evidence from repurchase announcements 自恋型首席执行官的诱人行为：来自回购公告的证据

IF 2.9 3区管理学

Journal of Business Finance & Accounting Pub Date : 2024-03-26 DOI: 10.1111/jbfa.12796

Evans O. Boamah, Shantanu Banerjee

{"title":"The beguiling behaviour of narcissistic CEOs: Evidence from repurchase announcements","authors":"Evans O. Boamah, Shantanu Banerjee","doi":"10.1111/jbfa.12796","DOIUrl":"https://doi.org/10.1111/jbfa.12796","url":null,"abstract":"We study whether Chief Executive Officer (CEO) narcissism affects a firm's share repurchase announcements and their implementations. Using signature characteristics as a measure of narcissism, we find that US firms with narcissist CEOs are more likely to make repurchase announcements and announce higher repurchase dollar amounts. However, these firms are less likely to follow through. Actual repurchases by these firms are less frequent, and they use a smaller amount of cash for share buyback because they have a higher cashflow sensitivity of cash. Narcissist CEOs’ repurchase announcements are less driven by market timing and have a lower announcement effect compared to those by other CEOs. The higher rate and amount of repurchase announcements are more pronounced in poorly governed firms with narcissistic CEOs. These results are robust to various specifications including a difference-in-difference set-up using CEOs’ exogenous turnover, controlling for other CEO traits and using an alternative measure of narcissism based on pronoun usage in CEO communications. Collectively, the results presented in this study demonstrate that narcissist CEOs play a critical role in the intensity of share repurchase announcements and their executions, particularly for firms with weaker governance structures.","PeriodicalId":48106,"journal":{"name":"Journal of Business Finance & Accounting","volume":"51 3-4","pages":"717-755"},"PeriodicalIF":2.9,"publicationDate":"2024-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jbfa.12796","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140348854","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

Audit partner style and financial statement comparability: New evidence from the US market 审计合伙人风格与财务报表可比性：来自美国市场的新证据

IF 2.2 3区管理学

Journal of Business Finance & Accounting Pub Date : 2024-03-21 DOI: 10.1111/jbfa.12798

Tracie Frost, Zhijian Chris He, Xin Luo, Derrald Stice

{"title":"Audit partner style and financial statement comparability: New evidence from the US market","authors":"Tracie Frost, Zhijian Chris He, Xin Luo, Derrald Stice","doi":"10.1111/jbfa.12798","DOIUrl":"10.1111/jbfa.12798","url":null,"abstract":"We explore the influence of individual audit partner style on financial statement comparability in a US setting using newly available data. We find evidence of an audit partner style effect on comparability incremental to audit firm and audit office effects. Our results are consistent across several comparability measures and are economically significant. For example, the audit partner effect is associated with a 12.59% decrease in the mean difference in abnormal accruals compared with a 4.4% decrease for firm pairs audited by the same Big 4 audit office. We also find that audit partner expertise and experience have a greater influence on comparability than audit office expertise and experience. Our results are consistent in endogeneity and robustness tests including (1) auditor switching tests, (2) entropy balancing, (3) placebo tests and (4) controlling for clients’ economic similarity. Our results suggest that the association between audit partner style and financial statement comparability persists in highly regulatory environments and corroborate the PCAOB's intuition that the role of the engagement partner “is of singular importance” to the outcome of the audit (PCAOB 2011).","PeriodicalId":48106,"journal":{"name":"Journal of Business Finance & Accounting","volume":"51 9-10","pages":"2763-2790"},"PeriodicalIF":2.2,"publicationDate":"2024-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jbfa.12798","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140199446","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

Tax enforcement and corporate cash holdings 税收执法与公司现金持有

IF 2.2 3区管理学

Journal of Business Finance & Accounting Pub Date : 2024-03-06 DOI: 10.1111/jbfa.12795

Jiaren Pang, Kun Wang, Le Zhao

引用次数: 0

The unintended cost of data breach notification laws: Evidence from managerial bad news hoarding 数据泄露通知法的意外成本：管理者囤积坏消息的证据

IF 2.2 3区管理学

Journal of Business Finance & Accounting Pub Date : 2024-03-06 DOI: 10.1111/jbfa.12794

Ivan Obaydin, Limin Xu, Ralf Zurbruegg

引用次数: 0

Political contributions and the auditor–client relationship 政治献金与审计师-客户关系

IF 2.2 3区管理学

Journal of Business Finance & Accounting Pub Date : 2024-03-05 DOI: 10.1111/jbfa.12791

Frank Heflin, Dana Wallace

引用次数: 0

Excess control of family board seats and corporate innovation 家族董事会席位的过度控制与企业创新

IF 2.2 3区管理学

Journal of Business Finance & Accounting Pub Date : 2024-03-02 DOI: 10.1111/jbfa.12793

Suyun Chen, Zongze Li, Lingling Chu, Qingzi Cao

引用次数: 0

Corporate disclosure differences around the world: International evidence 全球企业信息披露的差异：国际证据

IF 2.2 3区管理学

Journal of Business Finance & Accounting Pub Date : 2024-02-13 DOI: 10.1111/jbfa.12790

Zihua Liu, Ziyao San, Albert Tsang, Li Yu

{"title":"Corporate disclosure differences around the world: International evidence","authors":"Zihua Liu, Ziyao San, Albert Tsang, Li Yu","doi":"10.1111/jbfa.12790","DOIUrl":"10.1111/jbfa.12790","url":null,"abstract":"We examine whether and how variations in country-level institutional factors explain the intensity, diversity and informativeness of corporate disclosures around the world. Using a comprehensive corporate disclosure dataset containing more than 100 types of disclosures from firms domiciled in 35 countries, we examine the effect of four core country-level institutional factors—legal system, creditor/investor rights, political process and societal characteristics—on corporate disclosures. Our results suggest that the country-level institutional factor, which is likely to capture the legal system of a country, is negatively associated with the intensity, diversity and informativeness of disclosure. Moreover, our results suggest that the level of creditor/investor rights protection, political process and societal characteristics can also consistently affect the production, diversity and informativeness of disclosures. Overall, our evidence broadens our collective understanding of how core institutional factors at the society and country levels systematically explain corporate disclosures and their associated informativeness.","PeriodicalId":48106,"journal":{"name":"Journal of Business Finance & Accounting","volume":"51 9-10","pages":"2592-2634"},"PeriodicalIF":2.2,"publicationDate":"2024-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139758516","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

Variable rate premiums and defined benefit pension funding 可变利率保费和固定福利养老金筹资

IF 2.2 3区管理学

Journal of Business Finance & Accounting Pub Date : 2024-02-13 DOI: 10.1111/jbfa.12777

Abbie Sadler

{"title":"Variable rate premiums and defined benefit pension funding","authors":"Abbie Sadler","doi":"10.1111/jbfa.12777","DOIUrl":"10.1111/jbfa.12777","url":null,"abstract":"This study investigates the association between variable rate premiums (VRPs) charged by the Pension Benefit Guaranty Corporation (PBGC) and defined benefit pension funding in the United States. The PBGC requires VRPs from firms that fail to adequately fund their pension plans. Because millions rely on pension income, it is important to understand how government incentives impact pension funding decisions. In the aggregate, VRPs are positively associated with increases in pension funding. However, these premiums are not associated with excess pension contributions (EPCs) for financially distressed firms. These results suggest that financially distressed US firms engage in risk shifting. The lack of association persists even for financially distressed firms with tax benefits associated with pension funding. Finally, the association between VRPs and EPCs holds only for firms with combined lower borrowing costs and higher premiums. This finding suggests that higher premiums are not an effective incentive when firms also face higher borrowing costs and that lower premiums are not an effective incentive for EPCs, regardless of a firm's borrowing cost.","PeriodicalId":48106,"journal":{"name":"Journal of Business Finance & Accounting","volume":"51 9-10","pages":"2561-2591"},"PeriodicalIF":2.2,"publicationDate":"2024-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jbfa.12777","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139758621","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