Relation among corporate environmental disclosure, earnings management and accounting conservatism: evidence from Chinese listed firms

IF 2.8 3区 管理学 Q2 BUSINESS, FINANCE Managerial Auditing Journal Pub Date : 2022-04-06 DOI:10.1108/maj-05-2021-3129
Jianqun Xi, He Xiao
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引用次数: 4

Abstract

Purpose This paper aims to examine the relationship among corporate environmental disclosure (CED), earnings management (EM) practices and accounting conservatism in Chinese listed firms and determine how internal corporate governance (CG) mechanisms moderate these relationships. Design/methodology/approach This study uses two different EM practices, accrual-based EM (AEM) and real EM (REM), to analyze the relationship between CED and EM practices, as well as accounting conservatism. The final sample consisted of 1,619 observations, documented between 2015 and 2019. The panel data method was applied to estimate the relationship among CED, AEM and REM, as well as the moderating effect of CG on this relationship. Findings This study finds a negative relationship between CED and EM (both AEM and REM) and a positive relationship between CED and accounting conservatism. Further, CG, measured as the independent director ratio, institutional ownership and state-owned entities, was found to moderate these relationships. Practical implications Chinese policymakers should reinforce CED because it reduces corporate EM practices and improves accounting conservatism. Further, CED, as a mandatory requirement, may be expanded to all industries, that is, beyond the highly polluting industries listed on China’s stock exchanges. Originality/value This study is among the first to examine the relationship between CED and EM practices from both the AEM and REM perspectives and the one between CED and accounting conservatism. It also extends extant analyses by investigating the moderating effect of CG on these relationships in China.
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公司环境披露、盈余管理与会计稳健性的关系:来自中国上市公司的证据
目的研究中国上市公司环境披露、盈余管理和会计稳健性之间的关系,并确定公司内部治理机制如何调节这些关系。本研究使用两种不同的新兴市场实践,基于权责发生制的新兴市场(AEM)和真实新兴市场(REM),来分析可持续发展与新兴市场实践之间的关系,以及会计稳健性。最终样本包括2015年至2019年间记录的1619项观察结果。采用面板数据法估计CED、AEM和REM之间的关系,以及CG对这种关系的调节作用。研究结果:本研究发现,企业社会责任与企业社会责任(包括企业社会责任和企业社会责任)呈负相关关系,而企业社会责任与会计稳健性呈正相关关系。此外,我们还发现,以独立董事比例、机构持股和国有实体衡量的企业责任对这些关系起到了调节作用。实际意义:中国的政策制定者应加强企业内部审计,因为它减少了企业的新兴市场实践,并改善了会计稳健性。此外,环境污染治理作为一项强制性要求,可能会扩大到所有行业,即在中国证券交易所上市的高污染行业之外。原创性/价值本研究是第一个从AEM和REM的角度以及CED与会计稳健性之间的角度来研究CED与EM实践之间关系的研究之一。它还通过调查CG对中国这些关系的调节作用来扩展现有的分析。
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来源期刊
CiteScore
5.40
自引率
13.80%
发文量
45
期刊介绍: The key areas addressed are: ■Audit and Assurance (financial and non-financial) ■Financial and Managerial Reporting ■Governance, controls, risks and ethics ■Organizational issues including firm cultures, performance and development In addition, the evaluation of changes occurring in the auditing profession, as well as the broader fields of accounting and assurance, are also explored. Debates concerning organizational performance and professional competence are also covered.
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