Subjects -> BUSINESS AND ECONOMICS (Total: 3510 journals)
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HUMAN RESOURCES (103 journals)                     

Showing 1 - 92 of 92 Journals sorted by number of followers
Asia Pacific Journal of Human Resources     Hybrid Journal   (Followers: 221)
Human Resource Management     Hybrid Journal   (Followers: 78)
Organizational Behavior and Human Decision Processes     Hybrid Journal   (Followers: 75)
Human Resource Management Journal     Hybrid Journal   (Followers: 74)
Human Relations     Hybrid Journal   (Followers: 61)
Human Resource Management Review     Hybrid Journal   (Followers: 60)
International Journal of Human Resource Management     Hybrid Journal   (Followers: 53)
Annual Review of Organizational Psychology and Organizational Behavior     Full-text available via subscription   (Followers: 53)
Journal of Accounting and Economics     Hybrid Journal   (Followers: 46)
Accounting, Organizations and Society     Hybrid Journal   (Followers: 44)
Journal of Accounting Research     Hybrid Journal   (Followers: 34)
Contemporary Accounting Research     Full-text available via subscription   (Followers: 34)
Review of Accounting Studies     Hybrid Journal   (Followers: 29)
Human Resource Development Quarterly     Hybrid Journal   (Followers: 28)
Human Resource Development Review     Hybrid Journal   (Followers: 27)
Accounting Auditing & Accountability Journal     Hybrid Journal   (Followers: 26)
Advances in Developing Human Resources     Hybrid Journal   (Followers: 25)
Accounting Forum     Hybrid Journal   (Followers: 24)
Personality and Individual Differences     Hybrid Journal   (Followers: 24)
American Journal of Finance and Accounting     Hybrid Journal   (Followers: 23)
Journal of Human Development and Capabilities : A Multi-Disciplinary Journal for People-Centered Development     Hybrid Journal   (Followers: 23)
Accounting and Business Research     Hybrid Journal   (Followers: 23)
International Journal of Human Resources Development and Management     Hybrid Journal   (Followers: 22)
European Accounting Review     Hybrid Journal   (Followers: 20)
Human Resource Development International     Hybrid Journal   (Followers: 19)
Human Resource Management Research     Open Access   (Followers: 19)
Open Journal of Leadership     Open Access   (Followers: 18)
International Journal of Accounting and Finance     Hybrid Journal   (Followers: 17)
Critical Perspectives on Accounting     Hybrid Journal   (Followers: 16)
Accounting Education: An International Journal     Hybrid Journal   (Followers: 16)
Personnel Review     Hybrid Journal   (Followers: 15)
International Journal of Banking, Accounting and Finance     Hybrid Journal   (Followers: 15)
European Journal of Training and Development     Hybrid Journal   (Followers: 14)
Review of Public Personnel Administration     Hybrid Journal   (Followers: 14)
Public Personnel Management     Hybrid Journal   (Followers: 14)
International Journal of Human Resource Studies     Open Access   (Followers: 14)
International Journal of Management Development     Hybrid Journal   (Followers: 13)
Advances in Accounting     Hybrid Journal   (Followers: 12)
British Accounting Review     Hybrid Journal   (Followers: 12)
International Journal of Management Education     Hybrid Journal   (Followers: 11)
New Horizons in Adult Education and Human Resource Development     Hybrid Journal   (Followers: 11)
International Journal of Behavioural Accounting and Finance     Hybrid Journal   (Followers: 11)
Journal of Human Capital     Full-text available via subscription   (Followers: 10)
Review of Quantitative Finance and Accounting     Hybrid Journal   (Followers: 10)
International Journal of Accounting, Auditing and Performance Evaluation     Hybrid Journal   (Followers: 9)
Journal of Human Resource Costing & Accounting     Hybrid Journal   (Followers: 7)
Qualitative Research in Accounting & Management     Hybrid Journal   (Followers: 7)
Journal of Accounting and Public Policy     Hybrid Journal   (Followers: 7)
Human Resource and Organization Development Journal     Open Access   (Followers: 7)
Journal of Accounting Education     Hybrid Journal   (Followers: 7)
Attachment & Human Development     Hybrid Journal   (Followers: 7)
Journal of Professions and Organization     Free   (Followers: 6)
Strategic HR Review     Hybrid Journal   (Followers: 6)
Journal of Service Management     Hybrid Journal   (Followers: 6)
Afro-Asian Journal of Finance and Accounting     Hybrid Journal   (Followers: 5)
German Journal of Human Resource Management     Hybrid Journal   (Followers: 5)
Journal of International Accounting, Auditing and Taxation     Hybrid Journal   (Followers: 5)
Research in Human Development     Hybrid Journal   (Followers: 5)
Journal of Human Values     Hybrid Journal   (Followers: 5)
Journal of Contemporary Accounting & Economics     Hybrid Journal   (Followers: 4)
Journal of Organizational Effectiveness : People and Performance     Hybrid Journal   (Followers: 4)
Corporate Governance and Organizational Behavior Review     Open Access   (Followers: 4)
Australian Accounting Review     Hybrid Journal   (Followers: 4)
South Asian Journal of Human Resources Management     Full-text available via subscription   (Followers: 4)
International Journal of Accounting Information Systems     Hybrid Journal   (Followers: 4)
Journal of Chinese Human Resource Management     Hybrid Journal   (Followers: 4)
Coaching : Theorie & Praxis     Open Access   (Followers: 3)
International Journal of Human Capital and Information Technology Professionals     Full-text available via subscription   (Followers: 3)
Journal of Global Responsibility     Hybrid Journal   (Followers: 3)
Evidence-based HRM     Hybrid Journal   (Followers: 3)
Journal of HR intelligence     Open Access   (Followers: 2)
Journal of Human Resource and Sustainability Studies     Open Access   (Followers: 2)
Journal of Marketing and HR     Open Access   (Followers: 2)
Journal of Accounting & Organizational Change     Hybrid Journal   (Followers: 2)
Accounting and the Public Interest     Full-text available via subscription   (Followers: 2)
Pacific Accounting Review     Hybrid Journal   (Followers: 2)
International Journal of Critical Accounting     Hybrid Journal   (Followers: 2)
International Journal of Ethics and Systems     Hybrid Journal   (Followers: 2)
Journal of Advances in Management Research     Hybrid Journal   (Followers: 1)
International Journal of Economics and Accounting     Hybrid Journal   (Followers: 1)
Sri Lankan Journal of Human Resource Management     Open Access   (Followers: 1)
Intangible Capital     Open Access   (Followers: 1)
EURO Journal on Decision Processes     Hybrid Journal   (Followers: 1)
NHRD Network Journal     Full-text available via subscription  
Human Resource Research     Open Access  
Personnel Assessment and Decisions     Open Access  
Kelaniya Journal of Human Resource Management     Open Access  
Revista Gestión de las Personas y Tecnología     Open Access  
Psychologie du Travail et des Organisations     Hybrid Journal  
FOR Rivista per la formazione     Full-text available via subscription  
Journal of Enterprising Communities People and Places in the Global Economy     Hybrid Journal  
Asian Review of Accounting     Hybrid Journal  

           

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Journal Cover
Asian Review of Accounting
Journal Prestige (SJR): 0.222
Citation Impact (citeScore): 1
Number of Followers: 0  
 
  Hybrid Journal Hybrid journal (It can contain Open Access articles)
ISSN (Print) 1321-7348 - ISSN (Online) 1758-8863
Published by Emerald Homepage  [362 journals]
  • The interactive impact of tax avoidance and tax risk on the firm value:
           new evidence in the Tunisian context

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      Authors: Mouna Guedrib, Ghazi Marouani
      Abstract: The purpose of this study is to examine the interactive impact of tax avoidance and tax risk on the firm value. This study covers 290 observations on non-financial corporations listed on the Tunisian Stock Exchange for the period ranging from 2008 to 2020, using the multiple linear regression technique. The results show that tax avoidance positively affects the firm value while tax risk has a negative influence on the company value. More importantly, tax risk moderates the positive impact of tax avoidance on the firm value. Accordingly, tax avoidance must be considered in conjunction with tax risk when studying the effect on the firm value. The findings of additional analyses indicate that when tax avoidance is associated with a high level of tax risk, it negatively affects the firm value. Thus, investors negatively rate the high-risk tax avoidance. The major limitation of this study is that it focuses only on Tunisian listed companies since their financial statements are publicly available. Although the sample is relatively small due to the problem of data availability, it is satisfactory owing to the twelve-year sampling period (from 2008 to 2020). Research implications- The results obtained are of great interest to researchers as they should be more careful in simply using effective tax rates as a measure of risky or aggressive tax avoidance. The findings may signal the need for Tunisian firm managers to consider spillovers when adopting risky tax avoidance strategies and to implement a tax risk management policy within the firm. They are also substantial for Tunisian regulators to create requirements for reporting risky tax avoidance practices in the company annual reports to protect the investors’ rights and the society interest in general. The results are also useful for the investors who would like to make good decisions with respect to tax planning strategies. It is not enough to rely on the Effective Tax Rate (ETR) to judge whether or not tax planning is risky. Volatile ETRs, as a proxy of the tax risk, can be useful for them in decision-making. The results also highlight that risky tax avoidance decreases the firm value, and thus confirm the negative repercussions that such behavior can have not only on the firm, but also on the society in general, as the corporate tax contributes to covering the State public expenditure. Hence, it is considered a general concern. The present study differs from others in the existing literature. In fact, it examines the joint effect of tax avoidance and tax risk on the firm value for Tunisian listed companies which are characterized by the predominance of agency conflicts between major shareholders and minor ones. Therefore, the authors seek to investigate if small shareholders can penalize risky tax avoidance practices by decreasing the firm value.
      Citation: Asian Review of Accounting
      PubDate: 2023-01-24
      DOI: 10.1108/ARA-03-2022-0052
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2023)
       
  • Management accounting systems and economic sustainability: a qualitative
           inquiry of SMEs in Pakistan

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      Authors: Shahid Latif, Safrul Izani Mohd Salleh, Mazuri Abd. Ghani, Bilal Ahmad
      Abstract: This qualitative inquiry sheds light on using management accounting systems to address economic sustainability concerns in small and medium enterprises (SMEs) of Pakistan. Building on the dynamic capabilities (DC) theory, this research endeavors to address the recent calls on management accounting and economic sustainability in the context of SMEs. Qualitative research design was adopted in which 13 semistructured interviews were conducted with SME owners of Pakistan. The transcribed interviews were coded and thematic analysis was performed via NVIVO-12 to generate themes. Based on the DC theory, the findings revealed that SME owners in Pakistan use management accounting systems to ensure economic sustainability. The authors found that DC are a co-created phenomenon and refer to them as collective DC. Furthermore, the authors found the theme of accounting literacy which played a critical role in the exhibition of DC in a collective manner. This is one of the earliest studies on management accounting systems that examine economic sustainability in Pakistani SMEs. This research provides novel insights into the use of management accounting systems in Pakistan from the perspective of DC. In Pakistani SMEs, dynamic capacities are co-created and contingent on accounting literacy.
      Citation: Asian Review of Accounting
      PubDate: 2023-01-20
      DOI: 10.1108/ARA-05-2022-0123
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2023)
       
  • An analysis of the positive effect of real earnings management
           on financial performance

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      Authors: Hyoung Joo Lim, Dafydd Mali
      Abstract: REM models infer abnormal levels of cashflow from operations (AbCFO), selling, general and admin (AbSGA) and production expenses (AbProd) are opportunistic, based on the supposition that engaging in real activities to meet current earnings targets (t) will negatively influence future performance (t+1). However, from a firm productivity perspective, cost reduction (via AbCFO, AbProd and AbSGA) is interpreted as an efficiency enhancing business strategy. This study therefore differentiates between (1) firms with ineffective management that have engaged in AbCFO, AbProd and AbSGA to achieve an optimal resource-cost mix to generate sales (REMF) and (2) firms with effective management that have not (OEF). Using a sample of Korean listed firms over the 2000–2016 sample period, the study utilizes data envelopment analysis to capture the capability of management to generate sales from resources that are directly under their control. The study then compares the incremental effect that managerial decision making can have on real earnings management (REM) and future firm performance (period t+1 to t+5). The study makes two important contributions. First, consistent with the efficiency/productivity literature, but contrary to seminal REM studies, empirical results shows that AbCFO, AbProd and AbSGA improve firm performance in period t and t+1 (to t+5), demonstrating “REM” is not opportunistic by default. Second, OEF have higher financial performance compared to REMF, in periods t and t+1. The study therefore invokes resource-based theory and data envelopment analysis to integrate managerial effectiveness (human capital) into REM modelling. The study therefore extends the basic REM residual model.
      Citation: Asian Review of Accounting
      PubDate: 2023-01-17
      DOI: 10.1108/ARA-07-2022-0178
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2023)
       
  • Unionization and employee welfare: a theoretical investigation using
           earnings management

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      Authors: Guoyu Lin, Anna Bergman Brown, Eric Lin, Chunhao Xu
      Abstract: Unionization is generally thought to improve employee welfare through higher compensation and benefits. However, managers of unionized firms have incentives to manage earnings downward to avoid sharing rents with unionized workers, which may explain why empirical findings on the association between unionization and employee compensation are mixed. This paper develops an analytical model incorporating earnings management into the relationship between newly unionized firms and employee compensation. The authors develop an analytical model that relies on Nash bargaining theory and signal jamming (Stein, 1989; Fischer and Verrecchia, 2000; Dye and Sridhar, 2004) and model a setting where newly unionized workers' collective bargaining power increases substantially. The authors' model analyzes the relationship between newly unionized firms and employee wages and benefits while incorporating firms' incentives to engage in earnings management. The authors find that newly unionized firms are more likely to engage in income-decreasing earnings management to avoid paying higher salaries and wages to workers. Further, the authors find that this association is more pronounced when (1) the correlation of firms' earnings across periods is higher, (2) the cost of earnings management is lower and (3) firms' earnings are more volatile. This is the first paper to analytically model the effect of new unionization on firms' earnings management and workers' welfare. The authors' model offers new cross-sectional predictions that have not been tested in the prior literature. Specifically, the authors show that newly unionized firms are more likely to engage in income-decreasing earnings management; when earnings are more highly correlated, the cost of earnings management is lower and earnings are more volatile. The authors' findings may be relevant to regulators and policymakers.
      Citation: Asian Review of Accounting
      PubDate: 2023-01-10
      DOI: 10.1108/ARA-04-2022-0107
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2023)
       
  • Bank competition and SMEs access to finance in India: evidence from World
           Bank Enterprise Survey

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      Authors: Bijoy Rakshit, Samaresh Bardhan
      Abstract: The primary purpose of this study is to investigate the effects of bank competition on SMEs' access to finance in selected Indian states. Using 9,281 firm-level observations from World Bank Enterprises Survey (WBES), this study tests the market power hypothesis versus the information hypothesis to determine whether bank competition promotes access to finance for financially constrained firms. The authors measure state-level bank competition using two structural indicators: the Herfindahl Hirschman Index (HHI) and three bank concentration ratios (CR3). The authors apply simple probit regression, probit model with sample selection (PSS) and two-stage least squares (2SLS) to examine the effects of bank competition on firms' financing constraints. The results obtained through PSS and 2SLS indicate that bank competition alleviates firm's financing constraints and positively impacts its need for a bank loan and the decision to apply for bank credit. However, the prevalence of bank competition in promoting access to finance is more pronounced for small and medium-sized firms than for large firms. Higher bank competition also alleviates the credit constraints faced by female entrepreneurs. Reserve Bank of India (RBI) and other government stakeholders should ensure bank competition without hampering the agenda of bank consolidation to facilitate access to credit for SMEs. Regulators should also identify and monitor the financial institutions that make an insignificant contribution to promoting competitiveness in the financial system. Previous studies primarily investigate the effect of bank competition on a firm's access to finance from advanced and cross-country perspectives. This study contributes to the literature on bank competition by examining its role in promoting access to finance from an emerging economy standpoint. Measurement of bank competition indicators at the state level is an additional contribution.
      Citation: Asian Review of Accounting
      PubDate: 2023-01-10
      DOI: 10.1108/ARA-05-2022-0124
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2023)
       
  • Political–economic instability and earnings management in an emerging
           market: the case of the 2016 Presidential Impeachment in Brazil

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      Authors: Douglas Andrade, Dante Viana, Vera Ponte, Sylvia Domingos
      Abstract: This study analyzes earnings management among Brazilian public firms during the 2016 Presidential Impeachment. The sample comprises, as a treatment group, 721 firm-quarter observations relating to Brazilian listed firms. It also considers a control group of listed firms from Mexico, which were not affected by the exogenous shock analyzed (i.e. the 2016 Presidential Impeachment in Brazil). The firms' quarterly financial data cover the period between 2013 and 2018. Considering several proxies related to earnings management by accruals, the main findings suggest a negative relationship between the 2016 impeachment event and the level of discretionary accruals, suggesting that Brazilian firms tended to reduce their earnings management levels during the impeachment process. The results are robust whether the control group is considered or not. This study brings new empirical evidence to the literature on accounting information quality about the role of the economic and political environment in earnings management, especially in weak institution countries characterized by institutional voids and higher levels of corruption.
      Citation: Asian Review of Accounting
      PubDate: 2023-01-05
      DOI: 10.1108/ARA-06-2022-0154
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2023)
       
  • The moderating impact of auditor industry specialisation on the
           relationship between fair value disclosure and audit fees: empirical
           evidence from Jordan

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      Authors: Esraa Esam Alharasis, Maria Prokofieva, Colin Clark
      Abstract: This paper investigates the application of the product differentiation and shared efficiency approaches to understand the impact of the auditor industry specialisation (IS) on audit fees in relation to Fair Value Disclosures (FVD). The study uses 1,470 firm-year observations for the period 2005–2018 and is focused on Jordanian financial firms. Two competing theoretical approaches of IS proxied by audit fee-based measures were employed: firstly, the product differentiation approach measured using Market Share-based (MS) measure and secondly, the shared efficiency approach measured using Portfolio Share-based (PS) measure. The paper employs the Ordinary Least Squares regression to test the association between the proportion of fair-valued assets (using fair value hierarchy inputs) and audit fees. The results suggest that the association between the proportion of fair-valued assets and audit fees is strengthened (weakened) when the client hires specialist auditors identified by MS (PS). This association varied across the fair value inputs. Level 1 assets were found to be only moderated by both scenarios positively (negatively) for MS (PS) experts. The results are robust after controlling the endogeneity of auditor self-selection. The results provide valuable insights for policymakers into challenges of auditing FVD. These insights present a valuable input for the development of FVD policies and practices as well as providing guidance for updating auditor prices. Additionally, the results provide a foundation for policymakers and regulators to introduce and update fair value auditing practices. The current findings are generalisable to other countries, including the Middle East and North Africa, and are particularly beneficial for those countries which have adopted the fair value model. This study contributes to the theory by demonstrating the impact of the auditor industry expertise on post-implementation costs of FVD. The novelty of the study lies in introducing principle-based standards requirements of FVD to test the relationship. This approach is based on the IFRS disclosure requirements using data from the Jordanian financial sector to examine this relationship.
      Citation: Asian Review of Accounting
      PubDate: 2022-12-19
      DOI: 10.1108/ARA-03-2022-0050
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2022)
       
  • Financial reporting, debt covenants and convertible debts

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      Authors: Chee Kwong Lau
      Abstract: This study proposes an alternative perspective on why firms issue convertible debt, to supplement the largely theoretical motives identified in the existing literature. It hypothesises that the separate presentation of convertible debt into its equity and liability components has economic consequences and advantage that explain why firms issue convertible over non-convertible debt, consistent with the debt covenant hypothesis. The purpose of this paper is to address the proposed perspective and hypothesis. Data on convertible debt, gearing (debt assets and debt equity), debt issuance and retirement, etc. were collected for a sample of 1,104 firms listed on Bursa Malaysia. Regression analyses were then used to assess the hypotheses on how gearing affects the use of convertible debt and the impacts of its use on changes in gearing over the financing cycle. Firms with higher gearing, and possibly those close to violating debt covenants, are more likely to issue convertible than non-convertible debt. In addition, the use of convertible rather than non-convertible debt both reduces the increase in gearing when debts are issued and leads to a larger decrease in gearing during debt retirements via conversion. These effects on gearing provide firms with additional financial flexibility and enhance firms' capacity to borrow more from other sources, a lower-debt advantage. This study demonstrates the informational role of financial reporting in addressing the stewardship emphasis, as part of the decision usefulness objective of financial reporting in the Conceptual Framework for Financial Reporting.
      Citation: Asian Review of Accounting
      PubDate: 2022-12-19
      DOI: 10.1108/ARA-05-2022-0126
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2022)
       
  • Use of visuals in sustainability reporting by New Zealand Stock Exchange
           (NZX) listed companies: an impression management perspective

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      Authors: Mahmood Ahmed Momin, Zahir Uddin Ahmed, Renhe Liu
      Abstract: The purpose of this research is to investigate the use of visuals in communicating symbolic sustainability information by the New Zealand Stock Exchange (NZX) listed companies through their standalone sustainability reports. Using the impression management theoretical framework and Barthes' conceptions of denotation and connotation, the study seeks to examine the way visuals, such as photos, tables and figures, are used to convey symbolic sustainability messages and information. The content analysis method was used to analyse 1,064 visuals from 20 New Zealand Stock Exchange listed companies' standalone sustainability reports for 2017. The authors observe variations in the use of visuals to convey messages about sustainability and the appeal of these visuals to readers in the process of creating a symbolic sustainability message. While photos focus on emotions as their main method of impression management, tables and figures focus on the logical link between readers and a positive sustainability message. The study adds to the impression management theory work that companies use a combination of photos, tables and figures in communicating symbolic positive sustainability messages. The insights inform the corporate culture of the use of visuals and the effect of future reporting practices regarding sustainability information in New Zealand and globally. Unlike other studies on sustainability reporting, we contend that a company uses a combination of visuals to create impressions that include not only positive but also negative and neutral sustainability messages.
      Citation: Asian Review of Accounting
      PubDate: 2022-12-09
      DOI: 10.1108/ARA-04-2022-0078
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2022)
       
  • Are sustainable firms more profitable during COVID-19' Recent global
           evidence of firms in developed and emerging economies

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      Authors: Jing Lu, Shahid Khan
      Abstract: This paper investigates whether sustainability performance (SP) protects financial performance (FP) for firms in both developed and emerging economies during the COVID-19-induced economic downturn. Using a recent sample of firms in 34 countries between 2003 and 2021, the authors employ ordinary least squares regressions, moderations and the Heckman two-step method to test the hypotheses. Firms with strong SP have higher FP in developed and emerging economies in the upcoming year. During the COVID-19 crisis in 2020–2021, the impact of sustainability on FP is pronounced in developed but not in emerging economies. Furthermore, cross-listings expose firms in emerging economies to high-standard institutional mechanisms in developed economies. Thus, sustainable firms in emerging economies cross-listed on European stock exchanges are more profitable. For regulators and standard setters, the global-level comparative analysis helps them find solutions that may assist firms in improving SP globally (e.g. mandatory reporting) and enduring crises resiliently. For institutional investors, the study reveals the relatively different impact of sustainability risk for firms in developed and emerging economies. For practitioners and private sector firms, this study contributes to the dialogue on what makes firms more resilient in COVID-19. Although COVID-19 might be temporary, the lessons learned could protect firms from future crises. The authors contribute to the contingency perspective between sustainability and financial performance by providing recent empirical evidence in a global setting during the COVID-19 pandemic. The authors demonstrate how different external institutional mechanisms (rule-based governance and relation-based governance) and cross-listing affect the SP-FP relationship during a crisis. The authors extend the knowledge in crisis management literature with a comparative study and fill the research gap on how SP affects FP for firms in emerging economies compared to developed economies.
      Citation: Asian Review of Accounting
      PubDate: 2022-12-05
      DOI: 10.1108/ARA-04-2022-0102
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2022)
       
  • Auditors' response to regulators during COVID-19: disclosures of key
           audit matters

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      Authors: Elizabeth Rainsbury, Saman Bandara, Ahesha Perera
      Abstract: New Zealand regulatory bodies guided preparers and auditors of financial statements to deal with potential COVID-19 impacts on the financial statements and audit procedures. This study provides evidence of auditors' response to the impact of COVID-19 on the reporting of key audit matters (KAMs) in audit reports of listed companies in New Zealand. The purpose of this paper is to address this issue. A sample of 50 New Zealand listed companies was selected to compare the KAMs in 2019 (pre-COVID-19) and 2020 (during COVID-19). The study uses content analysis to evaluate the KAMs’ disclosures and descriptive analysis to examine the differences between 2019 and 2020 in terms of the auditor type, industry sector and accounting standards. Auditors responded positively to the request from regulators to communicate the impacts of COVID-19. The findings show an increase in the amount and length of KAMs in 2020 compared to 2019, with 82% of companies and 61% of KAMs reporting the impact of COVID-19. The real estate and information technology sectors disclosed more on the impact than other sectors. In analysing the KAMs, accounting standards for inventories, property plant and equipment, impairment of assets, investment property, revenue from contracts with customers and leases were highly affected by COVID-19. The findings support regulators to evaluate how well auditors communicated matters relating to COVID-19 in the audit report. Also, the findings will help standard setters to identify key accounting standards affected by COVID-19 of KAMs and provide insights to users on how the KAM reporting enhances communicative value during the pandemic. The current study captures the impact of COVID-19 on the reporting of KAMs by comparing changes before and during the pandemic.
      Citation: Asian Review of Accounting
      PubDate: 2022-11-22
      DOI: 10.1108/ARA-04-2022-0106
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2022)
       
  • Local government turnover and capital structure: evidence from China

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      Authors: Shangkun Liang, Fu Xin, Junli Yu, Gang Zhao
      Abstract: The political influence on the determinants of capital structure has been under-researched for a long time. Taking the turnover of secretary of municipal committee as a political factor in China, this paper studies the effect of local government officials' turnover on firm's capital structure. Starting with all A-shares listed firms in the Shanghai and Shenzhen Stock Exchanges from 2001 to 2018, this paper implements the OLS estimation, staggered difference-in-difference approach to investigate the effects of political turnover on the choice of capital structure. The results show that, driven by government officials' turnover, firms will significantly reduce their leverage. When comparing between formal finance (bank loans) and informal finance (payables), the reduction of capital structure is mainly driven by banks, not by suppliers. Furthermore, two possible channels have been investigated. First, the reduction effects are mainly driven by the SOEs when classifying the types of corporate ownership into SOEs and non-SOEs. Second, the reduction effects exist in areas with the more intense government intervention when considering the heterogeneity of the development of institutional environment in provinces. This paper first contributes to the literature on the determinants of corporate choice on capital structure. Second, this paper enriches the studies on the economic consequences of local government officials' turnover.
      Citation: Asian Review of Accounting
      PubDate: 2022-11-07
      DOI: 10.1108/ARA-04-2022-0087
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2022)
       
  • An analysis of the meta-analysis of board characteristics and demand
           for audit quality

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      Authors: Zhifeng Yang
      Abstract: The purpose of this study is to discuss Kalia, Basu and Kundu's (KBK’s) paper's motivation, findings and contributions and suggest further development. This paper is to discuss the meta-analysis of board characteristics and demand for audit Quqality by KBK. KBK paper is well motivated and makes new contributions to the literature. Future research can expand the sample and examine the moderating effects of institutional factors such as ownership structure, regulatory reforms and country-level investor protection and legal enforcement. Based on the review of KBK’ spaper, this study suggests that future research should expand the sample and examine the moderating effects of institutional factors such as ownership structure, regulatory reforms and country-level investor protection and legal enforcement.
      Citation: Asian Review of Accounting
      PubDate: 2022-10-25
      DOI: 10.1108/ARA-09-2022-0218
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2022)
       
  • Information processing costs and firm-specific information flows: evidence
           from the launch of high-speed railway in China

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      Authors: Gang Zhao, Xin Yu, Kailun Ni
      Abstract: The findings suggest that reducing information processing costs as a result of better transportation is an important ingredient in promoting the pricing of firm-specific information. This study aims to discuss the aforementioned issue. The authors adopt a difference-in-difference (DID) research design to examine the impact of information processing costs on stock price synchronicity with a sample of firms listed in the Chinese A-share market during 2007 and 2017. This paper shows that the launch of the high-speed railway (hereafter HSR) in China is associated with lower stock price synchronicity, consistent with the theory that the HSR reduces investors’ information processing costs (cost of monitoring, acquiring and analyzing firm disclosures). This effect is more pronounced for companies located in remote areas than for those located in large cities. Further tests show that the negative association between the launch of HSR and stock price synchronicity is stronger for companies with higher information asymmetries, proxied by higher equity concentration, higher complexity and lower internal control quality. This study contributes to the literature in the following three ways. First, prior literature relates the effects of geographic distance to information transmission and information asymmetry between insiders and outside investors (e.g. Coval and Moskowitz, 2001; Kang and Kim, 2008; Malloy, 2005). The authors supplement the literature by providing new empirical evidence from an exogenous shock (natural experiment), that is, the launch of HSR, that facilitates transportation and reduces information transmission costs. Second, prior studies have shown that new airline routes that facilitate transportation improve investment and productivity (e.g. Bernstein et al., 2016; Giroud, 2013). The authors extend this stream of studies by showing that the development of HSR networks reduces information processing costs, and promotes the incorporation of firm-specific information in the asset pricing. More importantly, in this study, the authors explicitly incorporate disclosure processing costs theory into our framework thus enhancing our understanding of how and why improvements in transport relate to better market outcomes.
      Citation: Asian Review of Accounting
      PubDate: 2022-10-04
      DOI: 10.1108/ARA-03-2022-0055
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2022)
       
  • Board characteristics and demand for audit quality: a meta-analysis

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      Authors: Deepali Kalia, Debarati Basu, Sayantan Kundu
      Abstract: The study explores extant knowledge on the nature of the relationship between internal and external corporate governance mechanisms, particularly board characteristics and audit quality, respectively, while also investigating how the relationship varies across geographies. The extant knowledge is synthesized using a meta-analysis, which is conducted using a sample of 56 empirical studies from publications of varying grades. The studies span over 25 years (1996–2021) and cover 147 empirical samples (343,787 firm-year observations) across more than 20 countries. The dependent variable is audit fees, and the independent variable captures 12 different measures of board characteristics. Overall, the results reveal a positive association between board characteristics and audit fees, indicating complementarity between governance mechanisms. Effect size analysis shows board characteristics, like size and independence, are positively associated with audit fees. However, heterogeneity is noted for some characteristics, and further analysis by geography (developed vs emerging countries) explains the heterogeneity. This study helps multiple stakeholders like firms, shareholders, boards, regulators and policymakers in designing and strengthening governance frameworks. Both governance and auditing literature benefit from identifying specific board characteristics that drive audit quality consistently across different institutional settings and samples. Heterogeneity analysis helps improve the understanding of contradictions documented in prior literature. This meta-analysis is the first to explore the interplay between internal and external corporate governance mechanisms, with a focus on board characteristics and audit quality. The study provides valuable insights on how different governance mechanisms influence each other while highlighting, for the first time, how the interaction between governance mechanisms varies by a country's level of development.
      Citation: Asian Review of Accounting
      PubDate: 2022-09-27
      DOI: 10.1108/ARA-05-2022-0121
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2022)
       
  • Global assessment of the COVID-19 impact on IFRS 9 loan loss provisions

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      Authors: Bernd Engelmann, Thi Thanh Lam Nguyen
      Abstract: This article aims to analyze the impact of COVID-19 measures by governments and central banks on International Financial Reporting Standards (IFRS) 9 loan loss provisions (LLPs). Changes in the total amount of LLPs, distribution of outstanding loan balance among IFRS 9 stages and credit risk parameters used for calculation are investigated for each world region where banks report under IFRS. Data for a global selection of 105 banks reporting under IFRS were collected from 2019 to 2020 annual reports, financial statements, and Pillar III reports. These data provide the basis to empirically analyze the impact of COVID-19 on LLPs. In most world regions Stage 2 balances increase while Stage 3 balances remain comparatively stable. The credit risk parameters used for computing LLPs remained stable in 2020. However, in China, the impact of COVID-19 on banks was not detected. Mean Stage 1 balances for Chinese banks increased slightly during the pandemic. Aside from the COVID-19 impact, we find that LLPs, credit risk parameters, and loss absorption capacities are significantly lower for banks in Canada, Oceania and Western Europe compared to those in the rest of the world. There exists previous research examining the COVID-19 impact on financial stability, implementation of emergency rules and country-wide analyses to anticipate default rates depending on recovery scenarios. However, this is the first global study on the immediate impact of COVID-19 on LLPs. It reveals the significant differences between world regions and provides implications about their resilience against future credit shocks.
      Citation: Asian Review of Accounting
      PubDate: 2022-09-21
      DOI: 10.1108/ARA-04-2022-0105
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2022)
       
  • Perceived internationalization of accounting education: the case of
           Vietnam

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      Authors: Tra My Nguyen, Duc Phan, Greeni Maheshwari
      Abstract: The authors explore the state of internationalization of accounting education as perceived by accounting academics, accounting employers, and accounting students in Vietnam. Based on data collected, authors draw recommendations to better facilitate internationalization of accounting education in Vietnam. With a qualitative approach, the authors use content analysis (materials from 27 universities) and semi-structured interviews (28 participants) to explore the state of internationalization of accounting education as perceived by academics, employers, and students in Vietnam. The authors identify the extent of and challenges in internationalization of accounting education in Vietnam, including language barrier, teaching approach, and budgetary constraints. Practical recommendations are drawn to help overcome challenges and facilitate progress. The study integrates two fields of research: accounting and education, particularly through addressing in-depth perspectives of a broad range of stakeholders in addition to a detailed examination of archival contents. Practical recommendations are proposed for short term, medium term, and long term.
      Citation: Asian Review of Accounting
      PubDate: 2022-08-31
      DOI: 10.1108/ARA-04-2022-0108
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2022)
       
  • Ownership concentration and accounting information consistency—evidence
           from Chinese listed companies

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      Authors: Shaojun Fan, Juan Chen, Hong Han
      Abstract: The authors expand the connotation of the research on the accounting information quality characteristics, provide empirical evidence for the factors of consistency and also help to deepen further their understanding of the economic consequences of ownership concentration and other ownership structures. Using financial data of Chinese listed companies as samples, coupled with a method to calculate the consistency of the sample enterprises on the corporate level in the 2007–2019 period, the authors studied its impact of ownership concentration on consistency. The study finds that after controlling other factors, ownership concentration could significantly reduce accounting information consistency. Further research finds that when the executives' shareholding is higher, the reduction effect of ownership concentration on consistency is weaker. After the robustness test, the conclusion remains basically unchanged. First, maybe there is a limitation of De Franco et al. (2011) method the authors use in China. As some scholars pointed out, the systematic component of returns variation is large in emerging markets (Morck et al., 2000), so it is hard to determine to what extent market stock returns will capture the net effect of earnings. As is mentioned above, there are multiple methods for measuring comparability and consistency, but it is not easy to judge which way is the best. Maybe the authors will have a perfect process in the future. Second, in addition to the factors mentioned in this study's hypotheses, there should be other factors (these include internal factors and external factors) that play moderating role in the impact of ownership concentration on accounting information consistency. The authors have not thoroughly studied the effect of those factors. These limitations all need to be further explored in the future. The study finds that after controlling other factors, ownership concentration could significantly reduce accounting information consistency, but the reduction will be affected by some other factors related to corporate governance. The new insights from these advances are that the conclusions provide a technical path for management of companies to improve corporate governance efficiency and the quality of accounting information, and also provide more reference and empirical evidence for information users to identify the company's accounting information quality, which contributes to creating a prerequisite for the usefulness of accounting information.
      Citation: Asian Review of Accounting
      PubDate: 2022-08-12
      DOI: 10.1108/ARA-01-2022-0012
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2022)
       
  • Value relevance of book values, earnings, and future earnings: evidence by
           time, life cycle stage, and market uncertainty

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      Authors: Kriengkrai Boonlert-U-Thai, Philipp Schaberl
      Abstract: The purpose of this study is to investigate the role of book values, earnings, and future earnings in equity valuation by time, life cycle stage, and market uncertainty using samples of USA and Japanese companies. This study employs Lubberink and Willett (2021) methodology in using log-linear models to estimate the value relevance of accounting numbers and follows Schaberl (2016) approach to measure %incremental value relevance. The study also includes future earnings in a basic valuation model (Ohlson, 1995) to explore the extent to which stock prices are forward looking. This study finds a significant increase by time in the relative value relevance of a combined model with book values and earnings and a combined model with future earnings for both countries. However, the incremental value relevance of book values, earnings, and future earnings remain stable over time. The results by life cycle stage indicate that incremental value relevance of future earnings and earnings are more (less) pronounced for firms in the intro (mature) life cycle stage while the incremental value relevance of book values is highest for firms in the decline stage for both countries. The results by market uncertainty indicate that firms with high market uncertainty display higher incremental value relevance of book values for both countries. The results on future earnings are mixed as USA (Japan) firms with high (low) market uncertainty display more (less) incremental value relevance of future earnings. The findings in this study enhance the merits of two basic financial statements (balance sheet and income statement) in a firm's equity valuation for potential investors and existing shareholders and document an additional role of future earnings information in reflecting a firm's stock price, which is beyond what book values and current earnings have already contributed. This is the first study that uses log-linear models to estimate the value relevance of accounting numbers and investigates value relevance of accounting information in three views: time, life cycle stage, and market uncertainty.
      Citation: Asian Review of Accounting
      PubDate: 2022-11-07
      DOI: 10.1108/ARA-03-2022-0070
      Issue No: Vol. 30, No. 5 (2022)
       
  • Corporate social responsibility and firm market performance: the role of
           product market competition and firm life cycle

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      Authors: Redhwan Al-Dhamari, Bakr Al-Gamrh, Omar Al Farooque, Elaigwu Moses
      Abstract: This study empirically investigates the role of product market competition and mature-stage firm life cycle on the relation between corporate social responsibility (CSR) and market performance in an emerging market context – Malaysia. The authors construct a comprehensive CSR index toward the economy, environment and society (EES) and apply both Ordinary Least Squares (OLS) and Two-Stage Least Squares (2SLS) instrumental variables (IV) approaches to test the hypotheses of the study. The authors find that EES-based CSR generally enhances firms' market performance; however, the level of product market competition undermines the market performance of socially and economically responsible firms. In addition, the study results indicate that mature-stage firm life cycle with more involvement in CSR activities shows better market performance. However, the endogeneity check of CSR suggests that both CSR and mature-stage firms are mutually exclusive in influencing market performance. The study findings are robust to alternative measures and different identifications of high and low default risk situations of sample firms. This study carries practical policy implications for the listed firms, regulators and stakeholders in general. For example, regulatory bodies may promote greater involvement in CSR activities by listed companies in the Malaysian stock market. Investors and other market participants should be aware of factors influencing socially responsible firms' market performance such as the corporate life cycle and the level of competition in product markets. This research work responds to the call of regulatory bodies in Malaysia at a time when the Malaysian economy is under threat of environmental distraction practices by the palm oil industry and import ban by the largest export market, i.e. the European Union by 2030. The study also contributes to the theoretical literature by refining the moderating role of product market competition and mature-stage life cycle on the relationship between CSR and market performance from the perspectives of resource-based and stakeholder theories in emerging economy settings.
      Citation: Asian Review of Accounting
      PubDate: 2022-11-03
      DOI: 10.1108/ARA-07-2022-0179
      Issue No: Vol. 30, No. 5 (2022)
       
  • Corporate disclosures and financial distress in banks in India: the
           moderating role of competition

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      Authors: Shailesh Rastogi, Jagjeevan Kanoujiya
      Abstract: This study aims to determine the association of Transparency and Disclosure (TD) with financial distress (FID) while the competition (as Lerner Index) moderates the association between the two. The panel data analysis (static model) is performed to examine the effect of disclosures on the bank's FID. A TD index is built to assess the level of TD. All three versions of Altman's Zscore are employed to measure a bank's FID (High Zscore is opposite of FID). The data of 34 banks running in India for the timeframe 2015–16 to 2018–19 is utilized. Lerner index (LI) is taken as the moderator. The bank-size, valuation and financial leverage are control variables. There exists no linear connection between TD and FID. However, TD is positively associated with financial stability (opposite FID). It means TD initially reduces financial stability and improves it after TD crosses a threshold level. Competition (as LI, where the higher value of LI means reduced competition) negatively moderates the association of TD with financial stability. Hence, the findings of this study support the competition-fragility premise. Surprisingly, the negatively significant interaction term of LI and TD implies either high competition and high TD or low competition with low TD, which helps in the bank's financial stability. The findings provide input to a long-term policy of disclosures and competition in the banking sector, keeping in view the financial stability of the banks. Therefore, findings are novel and carry immense value to the existing knowledge on the topic.
      Citation: Asian Review of Accounting
      PubDate: 2022-11-02
      DOI: 10.1108/ARA-03-2022-0064
      Issue No: Vol. 30, No. 5 (2022)
       
  • Discussion of “local government turnover and capital structure:
           evidence from China”

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      Authors: Jingjing Li
      Abstract: This paper aims to identify and evaluate the limitations related to Xin et al. (2022). The discussant also provide suggestions for future research along this line. In this discussion, the discussant will attempt to identify the main limitations and provide suggestions for future improvement. This written discussion focuses on three main points. First, the discussant will focus on the incremental contribution. Second, the discussant will discuss some remaining issues with the empirical design and propose suggestions for further improvement. Lastly, the discussant will go over the underlying reasons behind the documented results. Xin et al. (2022) investigate the original and important question of whether local leadership turnover leads to lower financial leverage. Xin et al. (2022) contribute to the research line of the economic impact of political uncertainty by investigating the turnover year effect of local top leadership in the Chinese setting. Future research can improve our understanding by investigating the underlying mechanisms behind the documented results.
      Citation: Asian Review of Accounting
      PubDate: 2022-10-28
      DOI: 10.1108/ARA-09-2022-0225
      Issue No: Vol. 30, No. 5 (2022)
       
  • Is auditor tolerant of earnings management in socially responsible
           firms' Evidence from China

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      Authors: Huy Viet Hoang, Son Tung Ha, Manh Linh Tran, Thi Thu Trang Nguyen
      Abstract: This study examines the effect of audit quality on earnings management to beat earnings targets among Chinese listed firms, taking into account the firms’ corporate social responsibility (CSR) practice. The sample consists of all A-shares listed in the Chinese stock market from 2001 to 2019, except firms in the financial industry. Probit estimator is employed to observe the effect of audit quality, proxied by a binary variable indicating whether a firm is audited by a Big 4 audit firm, on the behavior of earnings management to beat earnings targets. Industry and year fixed effects are incorporated into the models to control for differences among industries and time periods. The result of this study reveals that audit quality disciplines earnings management to beat earnings targets in Chinese firms. This result holds across different specification and endogeneity tests. The authors further find that auditors seem to be more tolerant to earnings-managed firms that actively disclose CSR activities. However, this moderating effect of CSR disclosure only exists among firms that manage earnings less aggressively. The findings of this study suggest that market participants should be mindful of the earnings management phenomenon and make their investment decisions after carefully dissecting and confirming the truthfulness of firms’ financial reporting. Regulators should raise the requirement on the capacity of auditing services to ensure the quality of the audit outcome. This study is the first to investigate the effect of audit quality on earnings management to beat earnings targets in Chinese firms. Moreover, this study pioneers in observing the moderating effect of CSR disclosure on the relationship between audit quality and earnings management.
      Citation: Asian Review of Accounting
      PubDate: 2022-10-24
      DOI: 10.1108/ARA-01-2022-0001
      Issue No: Vol. 30, No. 5 (2022)
       
 
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