Pub Date : 2021-08-31DOI: 10.24056/kar.2021.08.001
Bosung Shin, S. Choi, Jongsoo Han
{"title":"Human Resource Investment in Internal Control and Operating Efficiency","authors":"Bosung Shin, S. Choi, Jongsoo Han","doi":"10.24056/kar.2021.08.001","DOIUrl":"https://doi.org/10.24056/kar.2021.08.001","url":null,"abstract":"","PeriodicalId":17900,"journal":{"name":"Korean Accounting Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49654909","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-08-31DOI: 10.24056/kar.2021.08.004
Sang-Moo Shin, Hongmin Chun, Hakjoon Song
This study investigates the relationship between Lesbian, Gay, Bisexual, and Transgender (LGBT) supportive corporate policy and audit pricing using U.S. firms’ data from 2000 to 2011. Prior studies show that firms embracing diversity, including LGBT-supportive policy, enhances credit rating and earnings quality. Despite its growing importance of diversityrelated LGBT-supportive policy, less attention is paid to the LGBT-supportive firms and its effect on audit pricing. Our results suggest that, LGBT-supportive firms demand high audit quality and pay higher audit fee than firms that do not adopt LGBT-supportive policies. We conduct instrumental variable analyses and propensity score matching analyses to mitigate endogeneity and test results reinforce our main results. Further we find that LGBT-supportive firms appoint city-level industry specialist auditors, which supports our audit demand hypothesis. Overall results suggest that LGBT-supportive firms demand high-quality audit and pay high audit fees by appointing high-quality auditors to provide transparent and reliable financial information which would satisfy various stakeholders‘ information needs. Our study has practical and policy implications for auditors and regulators by identifying new determinants of audit fee and auditor choice decisions using U.S. data.
{"title":"LGBT(Lesbian, Gay, Bisexual, and Transgender)- Supportive Corporate Policy and Audit Fee","authors":"Sang-Moo Shin, Hongmin Chun, Hakjoon Song","doi":"10.24056/kar.2021.08.004","DOIUrl":"https://doi.org/10.24056/kar.2021.08.004","url":null,"abstract":"This study investigates the relationship between Lesbian, Gay, Bisexual, and Transgender (LGBT) supportive corporate policy and audit pricing using U.S. firms’ data from 2000 to 2011. Prior studies show that firms embracing diversity, including LGBT-supportive policy, enhances credit rating and earnings quality. Despite its growing importance of diversityrelated LGBT-supportive policy, less attention is paid to the LGBT-supportive firms and its effect on audit pricing. Our results suggest that, LGBT-supportive firms demand high audit quality and pay higher audit fee than firms that do not adopt LGBT-supportive policies. We conduct instrumental variable analyses and propensity score matching analyses to mitigate endogeneity and test results reinforce our main results. Further we find that LGBT-supportive firms appoint city-level industry specialist auditors, which supports our audit demand hypothesis. Overall results suggest that LGBT-supportive firms demand high-quality audit and pay high audit fees by appointing high-quality auditors to provide transparent and reliable financial information which would satisfy various stakeholders‘ information needs. Our study has practical and policy implications for auditors and regulators by identifying new determinants of audit fee and auditor choice decisions using U.S. data.","PeriodicalId":17900,"journal":{"name":"Korean Accounting Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44886743","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-08-31DOI: 10.24056/kar.2021.08.005
Heeju Hwang, Hye-Jin Ko, Hosung Son
The ownership structure of a company affects cost behavior through the governance structure and management''s decision-making process. This study examined how the ownership of states affect cost behavior from the perspective of domestic and foreign state ownership by using 13,387 financial data and ownership observations from 2008 to 2016 in the United States. Based on the cost asymmetry model, we found that the higher the state’s ownership, the more asymmetric cost behavior in terms of selling, general, and administrative and operating costs. However, firms with foreign state ownership shows less asymmetric cost behavior comparing to firms with domestic state ownership. This study is the first paper to analyze the effect of state ownership on cost behavior, classified into domestic and foreign, and the relationship between the state ownership and cost behavior from the viewpoint of the agency problem, budget maximization tendency, compensation of managers and insufficient monitoring. This study provides implications for policy makers to consider these characteristics of state ownership and origins of the differences between domestic and foreign state ownership, and supplements the structure to overcome the limitations.
{"title":"Does the Ownership of Domestic and Foreign State Affect Asymmetric Cost Behavior?","authors":"Heeju Hwang, Hye-Jin Ko, Hosung Son","doi":"10.24056/kar.2021.08.005","DOIUrl":"https://doi.org/10.24056/kar.2021.08.005","url":null,"abstract":"The ownership structure of a company affects cost behavior through the governance structure and management''s decision-making process. This study examined how the ownership of states affect cost behavior from the perspective of domestic and foreign state ownership by using 13,387 financial data and ownership observations from 2008 to 2016 in the United States. Based on the cost asymmetry model, we found that the higher the state’s ownership, the more asymmetric cost behavior in terms of selling, general, and administrative and operating costs. However, firms with foreign state ownership shows less asymmetric cost behavior comparing to firms with domestic state ownership. This study is the first paper to analyze the effect of state ownership on cost behavior, classified into domestic and foreign, and the relationship between the state ownership and cost behavior from the viewpoint of the agency problem, budget maximization tendency, compensation of managers and insufficient monitoring. This study provides implications for policy makers to consider these characteristics of state ownership and origins of the differences between domestic and foreign state ownership, and supplements the structure to overcome the limitations.","PeriodicalId":17900,"journal":{"name":"Korean Accounting Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44519093","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-08-31DOI: 10.24056/kar.2021.08.008
Meeok Cho, Sunhwa Choi
{"title":"The Effect of Audit Committee Expertise on the Informativeness of Accounting Information","authors":"Meeok Cho, Sunhwa Choi","doi":"10.24056/kar.2021.08.008","DOIUrl":"https://doi.org/10.24056/kar.2021.08.008","url":null,"abstract":"","PeriodicalId":17900,"journal":{"name":"Korean Accounting Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48647374","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-08-31DOI: 10.24056/kar.2021.08.002
J. Park, Jaimin Goh, Sooin Kim
{"title":"Are Financial Analysts More Likely to Forecast Earnings after the Announcement of Management Forecastinthe Post-IFRS Period?","authors":"J. Park, Jaimin Goh, Sooin Kim","doi":"10.24056/kar.2021.08.002","DOIUrl":"https://doi.org/10.24056/kar.2021.08.002","url":null,"abstract":"","PeriodicalId":17900,"journal":{"name":"Korean Accounting Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41777930","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-30DOI: 10.24056/kar.2021.01.004
Do Youn Kim, Jeong Ok Kim
{"title":"The Effect of Over-investment on Stock Price Informativeness about Future Earnings and the Role of the Auditor on Relationship","authors":"Do Youn Kim, Jeong Ok Kim","doi":"10.24056/kar.2021.01.004","DOIUrl":"https://doi.org/10.24056/kar.2021.01.004","url":null,"abstract":"","PeriodicalId":17900,"journal":{"name":"Korean Accounting Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49374185","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-06-30DOI: 10.24056/kar.2021.01.005
J. Ko, Sung-Soo Yoon, Heewoo Park
{"title":"The Effect of Financial Flexibility and Internal Capital Market on the net Tax Benefit of Debt and Capital Expenditure: Korean Evidence","authors":"J. Ko, Sung-Soo Yoon, Heewoo Park","doi":"10.24056/kar.2021.01.005","DOIUrl":"https://doi.org/10.24056/kar.2021.01.005","url":null,"abstract":"","PeriodicalId":17900,"journal":{"name":"Korean Accounting Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44667288","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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