The British Accounting Review最新文献_第5页

The geography of environmental regulation: Plant-level emissions data 环境监管的地理分布：工厂级排放数据

The British Accounting Review Pub Date : 2024-04-01 DOI: 10.1016/j.bar.2024.101381

Douglas Cumming, Huiying Wu, Yang Zhao

引用次数: 0

On professional destabilization and accounting self-regulation 关于职业不稳定和会计自律

The British Accounting Review Pub Date : 2024-02-20 DOI: 10.1016/j.bar.2024.101358

Zachary Huxley, Marion Brivot

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引用次数: 0

Mandatory corporate social responsibility spending, family control, and the cost of debt 强制性企业社会责任支出、家庭控制和债务成本

The British Accounting Review Pub Date : 2024-02-05 DOI: 10.1016/j.bar.2024.101356

Naina Duggal, Lerong He, Tara Shankar Shaw

{"title":"Mandatory corporate social responsibility spending, family control, and the cost of debt","authors":"Naina Duggal, Lerong He, Tara Shankar Shaw","doi":"10.1016/j.bar.2024.101356","DOIUrl":"https://doi.org/10.1016/j.bar.2024.101356","url":null,"abstract":"<p>This paper examines how corporate compliance with the mandatory corporate social responsibility (CSR) spending regulation affects its cost of debt and how this effect varies with family control and ownership. Utilizing a longitudinal sample of Indian listed firms, we document that compliance with the CSR spending regulation leads to a lower cost of debt, and this relationship is more salient in non-family firms than in family firms. Moreover, the attenuation effect of family firms is stronger in firms both controlled and managed by families, with larger family ownership or managed by non-founder CEOs. We also find that the efficacy of compliance in reducing the cost of borrowing is stronger in firms engaged in CSR activities before the regulatory mandate. Our results are robust to endogeneity tests, different estimation methods, and alternative measures. Overall, we demonstrate that CSR compliance conveys valuable information on firm characteristics through both signaling and screening channels, consequently affecting debtholders' evaluation of firm risk and shaping their lending decisions. However, debtholders' assessments and decisions vary with firms’ ownership and control structure.</p>","PeriodicalId":501001,"journal":{"name":"The British Accounting Review","volume":"7 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139695958","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Dynamics of carbon risk, cost of debt and leverage adjustments 碳风险、债务成本和杠杆调整的动态变化

The British Accounting Review Pub Date : 2024-02-01 DOI: 10.1016/j.bar.2024.101353

Doulgas Cumming, Geeta Duppati, Ruwani Fernando, Shivendu Pratap Singh, A. Tiwari

引用次数: 0

Dynamics of carbon risk, cost of debt and leverage adjustments 碳风险、债务成本和杠杆调整的动态变化

The British Accounting Review Pub Date : 2024-02-01 DOI: 10.1016/j.bar.2024.101353

Doulgas Cumming, Geeta Duppati, Ruwani Fernando, Shivendu Pratap Singh, A. Tiwari

引用次数: 0

FinTech adoption in banks and their liquidity creation 银行采用金融科技及其创造的流动性

The British Accounting Review Pub Date : 2024-01-11 DOI: 10.1016/j.bar.2024.101322

Zhuochen Wu, Shams Pathan, Chen Zheng

引用次数: 0

The schizophrenic board secretary: Embedded agent between multiple stakeholders and financial misconduct 精神分裂的董事会秘书：多方利益相关者与财务不当行为之间的嵌入式代理

The British Accounting Review Pub Date : 2024-01-11 DOI: 10.1016/j.bar.2024.101323

Bin Liu, David Ahlstrom, Yutong Zhang

{"title":"The schizophrenic board secretary: Embedded agent between multiple stakeholders and financial misconduct","authors":"Bin Liu, David Ahlstrom, Yutong Zhang","doi":"10.1016/j.bar.2024.101323","DOIUrl":"https://doi.org/10.1016/j.bar.2024.101323","url":null,"abstract":"<p>While agency theory has emphasized the importance of corporate governance in preventing financial misconduct, monitoring bodies do not always function well, especially in transition economies. By integrating the stakeholder-agency perspective with prospect theory, this study provides a new explanation of such dysfunction by introducing an embedded agent concept that manifests in a “schizophrenic” status of agents who need to satisfy multiple stakeholders and their conflicting interests. Drawing on a sample of small-to-medium-sized enterprises (SMEs) listed on the Chinese National Equities and Exchange and Quotations system from 2014 to 2017, it is shown that having a board secretary did not help reduce financial misconduct as the government expected, due to an embedded agent problem. However, their dysfunctional status would largely disappear, and they would perform their monitoring responsibilities if given higher equity shares and stricter subnational regulations, two key contingencies that better align embedded agents’ interests with one group of stakeholders. Overall, this study contributes to the corporate governance literature by introducing the embedded agent concept and its theoretical boundaries, along with a focus on transition economies.</p>","PeriodicalId":501001,"journal":{"name":"The British Accounting Review","volume":"2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139420151","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Institutional investor ESG activism and exploratory green innovation: Unpacking the heterogeneous responses of family firms across intergenerational contexts 机构投资者的环境、社会和治理行动主义与探索性绿色创新：解读不同代际背景下家族企业的异质反应

The British Accounting Review Pub Date : 2024-01-01 DOI: 10.1016/j.bar.2024.101324

Bao Wu, Feng Chen, Lanhua Li, Zijia Liu, Yaoyao Wu

引用次数: 0

Disclosure of investor relationship activities and stock crash risk: Evidence from private in-house meetings 投资者关系活动的披露与股灾风险：来自非公开内部会议的证据

The British Accounting Review Pub Date : 2024-01-01 DOI: 10.1016/j.bar.2024.101325

Hang Zhou, Rong Ding, Yifan Li, Yuxin Sun

引用次数: 0

Which governance mechanisms matter for firm pollution? 哪些治理机制对企业污染有影响?

The British Accounting Review Pub Date : 2023-12-07 DOI: 10.1016/j.bar.2023.101297

Sarfraz Khan, John K. Wald

引用次数: 0