The focus of the China Journal of Accounting Research is to publish theoretical and empirical research papers that use contemporary research methodologies to investigate issues about accounting, corporate finance, auditing and corporate governance in the Greater China region, countries related to the Belt and Road Initiative, and other emerging and developed markets. The Journal encourages the applications of economic and sociological theories to analyze and explain accounting issues within the legal and institutional framework, and to explore accounting issues under different capital markets accurately and succinctly. The published research articles of the Journal will enable scholars to extract relevant issues about accounting, corporate finance, auditing and corporate governance related to the capital markets and institutional environment.
China Journal of Accounting Research has been indexed by Emerging Sources Citation Index (ESCI), Cabell's Directory, Scopus, CNKI, Australian Business Deans Council (ABDC) Journal Quality List and Excellence in Research for Australia (ERA) journal list.
《中国会计学刊》（英文名ChinaJournal of Accounting Research，简称CJAR，国际刊号：1755-3091）是国际上首本专门刊登有关中国会计研究论文的全英文学术期刊，于2008年由中山大学与香港城市大学在境外联合创办，由全球最大的科学文献出版社发行商Elsevier出版发行，按照国际刊物通行模式运作。主编为香港城市大学Jeong Bon Kim 和中山大学的魏明海教授。2012年起，CJAR正式发展为季刊。各期文章均可以在Science Direct Online免费阅览及下载。目前，CJAR已入选Thomson Reuters Corporation公司所发布的Emerging Sources Citation Index( ESCI)，并被Cabell’sDirectory、中国知网、Scopus、AustralianBusiness Deans Council (ABDC)Journal Quality List 和ExcellenceinResearch for Australia （ERA）journallist等数据库收录。China Journal of Accounting Research
Volume 13, Issue 1
[1]Of stars and galaxies- Co-authorship network and research
Xiaoli Hu, Oliver Zhen Li, Sha Pei
[2]State-owned enterprises in China: A review of 40 years of research and practice
Karen Jingrong Lin, Xiaoyan Lu,Junsheng Zhang, Ying Zheng
[3]Peer effect in the initial recognition of goodwill
Liping Xu, Yueqin Guan, Zhihong Fu, YuXin
[4]The effect of affiliated analysts on stock recommendations: Evidence from sharepledges in China
Chenyu Zhang, Aimin Qian, Xiangyan Shi
[5]How audit effort affects audit quality: An audit process and audit outputperspective
Tusheng Xiao, Chunxiao Geng, Chun Yuan
题目、作者、作者单位、关键词
Of stars and galaxies – Co-authorship network and research
Xiaoli Hu
CityUniversity of Hong Kong, Hong Kong, China
Oliver Zhen Li
ShanghaiLixin University of Accounting and Finance, China
NationalUniversity of Singapore, Singapore
Sha Pei
ShanghaiLixin University of Accounting and Finance, China
Abstract：Weexamine the association between network centrality and research using theaccounting research community setting. We establish co-authorship network usingpapers published in the five top accounting journals from 1980 to 2016. We findthat the co-authorship network in accounting is a “small world” with some mostconnected authors playing a key role in connecting others. We use machinelearning to label published papers with multiple topics and find patterns intopics over time. More importantly, we find that co-authorship networkcentrality is positively associated with future research productivity and topicinnovation and that the impact of centrality on productivity is higher withmore senior authors. Further, centrality of an author’s co-authors also has anincrementally positive impact. We conclude that network centrality positivelyinfluences research output.Keywords：Networkcentrality; Co-authorship; Research output; Accounting research community
State-owned enterprises in China:
A review of 40 years of research and practice
Karen Jingrong Lin
Universityof Massachusetts, Lowell, United States
Xiaoyan Lu
Centerfor Accouning, Finance and Institutions, Business School, Sun Yat-Sen University,China
Junsheng Zhang
Centerfor Accouning, Finance and Institutions, Business School, Sun Yat-SenUniversity, China
Ying Zheng
Centerfor Accouning, Finance and Institutions, Business School, Sun Yat-SenUniversity, China
Abstract：State-ownedenterprises (SOEs) are important components of the Chinese economy. AlthoughSOEs are generally considered inefficient in operations, China’s economy, whichrelies heavily on SOEs, has been highly successful over the last four decades.This indicates the importance of SOEs in China’s past and future economicsuccess. Therefore, in this study, we review the literature on economictheories and 40 years of practice of Chinese SOEs and discuss implications forfuture research. Our review consists of four parts: the theories of SOEs andtheir reform, the performance and financing strategies of SOEs, corporategovernance in SOEs, and corporate social responsibility in SOEs.Keywords：State-ownedenterprises (SOE); Literature review; China
Peer effect in the initial recognition of goodwill
Liping Xu
Centerfor Accounting, Finance and Institutions/Business School, Sun Yat-senUniversity, China
Yueqin Guan
Centerfor Accounting, Finance and Institutions/Business School, Sun Yat-senUniversity, China
Zhihong Fu
Centerfor Accounting, Finance and Institutions/Business School, Sun Yat-senUniversity, China
Yu Xin
Centerfor Accounting, Finance and Institutions/Business School, Sun Yat-senUniversity, China
Abstract：Thisstudy investigates the peer effect in the initial recognition of goodwill. Wefind that firms imitate their peers in the initial recognition of goodwill. Thehigher the tendency for imitation, the higher the proportion of goodwillrecognized. Imitation behavior in the initial recognition of goodwill cannot beexplained by information acquisition or rivalry motivations. Instead, we findevidence that managers’ opportunistic motivations explain the peer effect inthe initial recognition of goodwill and the overestimation of goodwill arisingfrom imitation tendencies. Executive overconfidence weakens the peer effect butexacerbates the overestimation of goodwill caused by imitation tendencies.Finally, the higher the imitation tendency, the greater the probability andamount of goodwill impairment in the future. This further confirms that thepeer effect leads to overestimation of goodwill. The findings of this studyenrich the literature on goodwill and provide insightful empirical evidence forregulating goodwill accounting. The results show that the conservatismprinciple should be reinforced in the initial recognition of goodwill. Keywords：InitialRecognition of Goodwill; Peer Effect; Goodwill Impairment
The effect of affiliated analysts on stock recommendations: Evidence from sharepledges in ChinaBusinessSchool, Beijing Technology and Business University, ChinaBusinessSchool, University of International Business and Economics, ChinaSchoolof Accounting, Southwestern University of Finance and Economics, China Abstract：Weuse the share pledge context in China to examine how affiliated analysts whosesecurities companies are pledgees of share pledge firms issue stockrecommendations on these listed firms. We find that their recommendations aremore optimistic than those of non-affiliated analysts, and they are more likelyto issue Buy and Add recommendations, suggesting that they issue optimisticrating reports for share pledge firms due to their conflicts of interest. Wealso find a dynamic adjustment in the stock recommendation behavior of theseanalysts, and their probability after issuing optimistic stock recommendationsis significantly reduced before and after the years that the affiliationrelationship between them and share pledge firms both began and ended. Theseaffiliated analysts continue to issue optimistic stock recommendations aftervisiting the share pledge firms if they work in the same location as the firms,or if they are star analysts among New Fortune’s “top five analysts,” and whenthe information transparency of the share pledge firms is higher. In addition,the optimistic stock recommendation behavior of affiliated analysts is moresignificant in our sample of firms with high share pledge ratios and downwardstock price pressure. The earnings forecast quality of affiliated analysts isalso found to be lower, and they are less inclined to downgrade stockrecommendations for these share pledge firms. Buy recommendations issued byboth non-affiliated and affiliated analysts can bring cumulative excess returnsin the short event window, but those issued by affiliated analysts aresignificantly negative in the long-term event window, and significantly lowerthan those issued by non-affiliated analysts. Overall, our study shows thataffiliated analysts issue optimistic rating reports on share pledge firms dueto conflicts of interest, which leads to decision-making bias in investors andthus decreases the stock price crash risk of the firms. Our findings furtherreveal the economic consequences of share pledging and extend our understandingof the behavior of analysts in a conflict of interest situation from the sharepledge perspective.Keywords：Affiliatedanalysts; Stock recommendations; Share pledge; Information superiority;Interest conflict
How audit effort affects audit quality:
An audit process and audit outputperspective
Tusheng Xiao
Schoolof Accountancy, Central University of Finance and Economics, China
Chunxiao Geng
Schoolof Accountancy, Central University of Finance and Economics, China
Chun Yuan
Schoolof Accountancy, Central University of Finance and Economics, China
Abstract：Usinga unique dataset of audit days in China from 2006 to 2011, this paper examinesthe relationship between audit effort and audit quality from the perspective ofaudit process and audit output. The results show that audit effortsignificantly increases the probability of audit adjustments, which inhibitspositive earnings management and improves the quality of audited financialstatements. We also find that audit effort does not have a significant effecton the issuance of modified audit opinions overall, but that a modified auditopinion is more likely to be issued in the absence of an audit adjustment.Furthermore, we find that the impact of audit effort on audit quality isattenuated when clients are more complex and when audit firms are larger.Collectively, our evidence suggests that audit effort plays an important rolein improving audit quality by influencing audit process and audit output. Ourstudy extends the literature on the impact of audit effort on audit quality inemerging markets, and the conclusions have important implications for theimprovement of China’s audit market efficiency.Keywords：Auditeffort; Audit adjustment; Audit opinion; Audit quality
学术快报栏目荣誉出品
资料搜集：孙玥 宁夏大学研究生
编辑：崔悦 东北财经大学本科生
审核：支瑾璠 东北财经大学本科生
副主编：程慧煜 西安财经大学研究生
指导：水皮/李高波 北京交通大学博士生