近期三篇中国会计学者团队成果，被国际知名期刊Abacus接受！
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近期，在国际知名财务、会计类期刊Abacus: A Journal of Accounting Finance and Business Studies接受中国会计财务学者团队三篇论文。会计学术联盟今日转发，以期更多的朋友关注、学习。
Since 1965 Abacus has consistently provided a vehicle for the expression of independent and critical thought on matters of current academic and professional interest in accounting, finance and business. The journal reports current research; critically evaluates current developments in theory and practice; analyses the effects of the regulatory framework of accounting, finance and business; and explores alternatives to, and explanations of, past and current practices.
1.Chief Audit Executive as Supervisory Board Member and Executive Compensation Contracts
Meng Lyu,
Fudan University, 670 Guoshun Rd, Yangpu District, Shanghai, China
Xiaojie Christine Sun,
California State University, Los Angeles, 5151 State University Dr, Los Angeles, CA, 90032 United States
Bing Wang
Nanjing University, 22 Hankou Rd, Gulou District, Nanjing, Jiangsu Province, China
First published: 12 October 2022|
https://doi.org/10.1111/abac.12268
Bing Wang acknowledges financial support from the National Natural Science Foundation of China (No.71772084). The authors thank Stewart Jones (editor), Jason Z. Xiao, Liansheng Wu, Seong Jin Ahn (discussant), and two anonymous reviewers. Bing Wang is the corresponding author.
Abstract:This paper studies a unique phenomenon in China's corporate governance—that chief audit executives (CAEs) sit on supervisory boards (CAE duality)—and examines its effects on executive compensation contracts. Using a sample of listed firms between 2010 and 2018, we find a significant positive relation between CAE duality and pay-for-performance sensitivity, which suggests that the dual position helps integrate monitoring resources and reduces agency costs. This positive relation is more pronounced when companies face a stricter monitoring environment and in non-state-owned enterprises (non-SOEs) than in SOEs. In addition, we find that the recent reforms on compensation strengthen the role of CAE duality in SOEs. Further analysis identifies the reliability of performance information (i.e., earnings quality) and reduced executive self-interested behaviours (i.e., perquisite consumption) as the influencing mechanisms that increase the demand for performance-based compensation and thus improve pay-for-performance sensitivity.
2.Brain Gain: The Effect of Employee Quality on Corporate Social Responsibility
Muzhi Wang,
School of Accountancy, Central University of Finance and Economics, Beijing, China, 100081
Weichen Yan
School of Economics and Management, Beihang University, Beijing, China, 100191
First published: 11 September 2022|
https://doi.org/10.1111/abac.12266
This study was funded by the National Natural Science Foundation of China (Grant No. 72002007; 72002230) and was sponsored by the Humanities and Social Science Youth Talent Programme of Beihang University (Grant No. KG16182501). The authors are displayed in alphabetical order. Both authors contributed equally to this article.
Abstract:This paper investigates whether and how employee quality affects corporate social responsibility (CSR). We find that firms with a high-quality workforce are associated with more CSR engagement. We use an exogenous shock of household registration reform in China to employee mobility to support a causal inference. The main effect is more pronounced among firms whose human capital has more value-added (e.g., firms in high-tech industries, firms with more R&D investment, and patent filings). Further, we show that employees' bargaining power and monitoring role are potential channels through which employee quality affects CSR. Finally, our results also demonstrate that the employee quality effect is economically sizeable and generates positive externalities on future financial performance and firm value.
3.Does the Prohibition of Long-lived Asset Impairment Reversals Affect Corporate Innovation? Evidence from a Quasi-experiment in China
Huilong Liu,
Business School, University of International Business and Economics, China
Jianqiu Liu,
School of Accounting, Hunan University of Technology and Business, China
Hong Wang,
School of Accounting, Zhejiang Gongshang University, China
Dan Yang
Business School, Beijing Normal University, China
First published: 11 September 2022|
https://doi.org/10.1111/abac.12267
This work was supported by the National Natural Science Foundation of China (No. 71772039, No. 71790604, No. 71602010), the Fundamental Research Funds for the Central Universities in UIBE, and the Project for Leading Talents in Accounting of Ministry of Finance of China.
Abstract:China modified the asset impairment standard in 2007, prohibiting long-lived asset impairment reversal, which it had previously allowed. Using this setting as a quasi-experiment, we investigate how the prohibition of long-lived asset impairment reversal affects corporate technological innovation. Our empirical results demonstrate that the prohibition of impairment reversal has negative impacts on corporate innovation outputs. Further analyses reveal that the negative effect of this prohibition on corporate innovation is more prominent in companies with high discretionary accruals, high shareholding ratios for the largest shareholders, and companies in highly competitive markets.
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