Political control and internal governance in state-owned enterprises: Evidence from party-building reform in China

Management Accounting Research, Journal Year: 2024, Volume and Issue: unknown, P. 100923 - 100923

Published: Dec. 1, 2024

Language: Английский

---

Dark Side of Financial Statement Comparability: Evidence from Stock Price Synchronicity in a Culturally Tight Country

SSRN Electronic Journal, Journal Year: 2021, Volume and Issue: unknown

Published: Jan. 1, 2021

I document evidence that financial statement comparability curbs the incorporation of firm-specific information into stock prices, resulting in higher price synchronicity China. The positive comparability-synchronicity relationship is more pronounced when firms operate culturally tight provinces, are less innovative, have poor performances, high disclosure opacity, and weak corporate governance mechanisms. Using effect China’s 2007 accounting standards as a regulatory shock, find an exogenous increase leads to synchronicity. Finally, increases future systematic risks decreases firm values. In contrast extant literature, findings this study show adversely affects environments country.

Language: Английский

---

Unwilling or Unable to Disguise? How Does Clan Culture Reduce Tax Aggressiveness in China

SSRN Electronic Journal, Journal Year: 2023, Volume and Issue: unknown

Published: Jan. 1, 2023

The persistence of traditional culture has long been discussed, while little is known about its impact on corporate aggressive tax planning. This paper examines the relation between clan and aggressiveness by focusing unique role CEO, contrary to extant research topic. Our empirical evidence, from publicly traded firms in China during 2007–2020, suggests that China’s CEO’s birthplace reduces probability planning, which accordant prediction our theoretical model. Using CEO turnover as a quasi-natural experiment, we employ triple differences method verify causal effect. Moreover, find could foster social trust among individuals, reducing willingness engage Further, exclude competitive explanation reduce accessibility ability including political connections, ties financial expertise. Finally, results suggest effect culture, complementary development formal institutions, public attention marketization.

Language: Английский

---

Can Public Data Availability Affect Stock Price Crash Risk? Evidence from China

Published: Jan. 1, 2023

Exploiting the staggered establishment of public data open platforms (PDOPs) across different cities China, we study whether and how improved availability affects firms’ stock price crash risk (SPCR). We find that PDOPs significantly decrease local SPCR. Our results remain valid after various robustness tests, such as placebo instrument variable analysis, entropy balancing alternative measures SPCR, well difference-in-differences (DID) estimators. Furthermore, additional evidence suggests observed effects are driven by two mechanisms: operating performance enhanced external monitoring. The former mechanism reduces generation bad news within firms, while latter restricts managers’ ability to hoard news. Overall, our findings suggest government can help improve capital market resource allocation efficiency supplying individuals organizations.

Language: Английский

---

Latin American accounting research in extra-regional journals

Revista Contabilidade & Finanças, Journal Year: 2023, Volume and Issue: 34(92)

Published: Jan. 1, 2023

Language: Английский

---