Pub Date : 2026-01-06DOI: 10.1016/j.jacceco.2026.101858
Ray Ball
{"title":"On The Economics of Accounting and Contracting in Firms","authors":"Ray Ball","doi":"10.1016/j.jacceco.2026.101858","DOIUrl":"https://doi.org/10.1016/j.jacceco.2026.101858","url":null,"abstract":"","PeriodicalId":42721,"journal":{"name":"International Journal of Economics Management and Accounting","volume":"28 1","pages":""},"PeriodicalIF":1.2,"publicationDate":"2026-01-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145902439","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 : 2025-12-06DOI: 10.1016/j.jacceco.2025.101855
David P. Weber, Nina Xu, Kangkang Zhang
{"title":"SEC Scrutiny and Corporate Risk-Taking","authors":"David P. Weber, Nina Xu, Kangkang Zhang","doi":"10.1016/j.jacceco.2025.101855","DOIUrl":"https://doi.org/10.1016/j.jacceco.2025.101855","url":null,"abstract":"","PeriodicalId":42721,"journal":{"name":"International Journal of Economics Management and Accounting","volume":"15 1","pages":""},"PeriodicalIF":1.2,"publicationDate":"2025-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145689472","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 : 2025-12-05DOI: 10.1016/j.jacceco.2025.101854
Martin Kapons, David Veenman
This paper examines the function of accruals in measuring quarterly firm performance. We show that operating accruals play a pronounced role in offsetting quarterly cash flow fluctuations and that this timing role is much stronger than concluded based on annual measurements in the recent literature. A fundamental driver of this timing role of accruals is the significant seasonal variation in operating cash flows, which is determined by the interaction between sales seasonality and working capital policies. We further find that the seasonality in cash flows and the offsetting role of accruals have declined over time. We link this trend to international diversification, trends in the importance and seasonality of retail sales, zero-inventory firms, market power, and the rise in supply chain finance.
{"title":"Seasonal variation in cash flows and the timing role of accruals","authors":"Martin Kapons, David Veenman","doi":"10.1016/j.jacceco.2025.101854","DOIUrl":"https://doi.org/10.1016/j.jacceco.2025.101854","url":null,"abstract":"This paper examines the function of accruals in measuring quarterly firm performance. We show that operating accruals play a pronounced role in offsetting quarterly cash flow fluctuations and that this timing role is much stronger than concluded based on annual measurements in the recent literature. A fundamental driver of this timing role of accruals is the significant seasonal variation in operating cash flows, which is determined by the interaction between sales seasonality and working capital policies. We further find that the seasonality in cash flows and the offsetting role of accruals have declined over time. We link this trend to international diversification, trends in the importance and seasonality of retail sales, zero-inventory firms, market power, and the rise in supply chain finance.","PeriodicalId":42721,"journal":{"name":"International Journal of Economics Management and Accounting","volume":"140 1","pages":"101854"},"PeriodicalIF":1.2,"publicationDate":"2025-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145704996","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 : 2025-11-21DOI: 10.1016/j.jacceco.2025.101853
Jinhwan Kim, Kristen Valentine
{"title":"Earnings Targets, Strategic Patent Sales, and Patent Trolls","authors":"Jinhwan Kim, Kristen Valentine","doi":"10.1016/j.jacceco.2025.101853","DOIUrl":"https://doi.org/10.1016/j.jacceco.2025.101853","url":null,"abstract":"","PeriodicalId":42721,"journal":{"name":"International Journal of Economics Management and Accounting","volume":"5 1","pages":"101853"},"PeriodicalIF":1.2,"publicationDate":"2025-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145575614","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 : 2025-11-19DOI: 10.1016/j.jacceco.2025.101849
Brandon Gipper, Fiona Sequeira, Shawn X. Shi
We examine whether external assurance improves the quality of firms’ carbon accounting. We develop a measure of carbon accounting quality based on the deviation of reported emissions from a model-based expected level and supplement it with two survey-based measures. We show that assurance is associated with higher carbon accounting quality. This association is stronger when firms have weaker pre-existing carbon accounting systems and when assurance is more thorough. Consistent with assurance enhancing quality, assurance relates to the identification of issues in a firm’s carbon accounting system, along with fewer omissions and more revisions of prior disclosures. Exploiting mandated assurance for non-financial reporting in three E.U. countries, we show that firms experience post-regulation increases in carbon accounting quality. Together, the findings highlight the importance of assurance for reporting firms that are improving their carbon accounting quality.
{"title":"Carbon Accounting Quality: Measurement and the Role of Assurance","authors":"Brandon Gipper, Fiona Sequeira, Shawn X. Shi","doi":"10.1016/j.jacceco.2025.101849","DOIUrl":"https://doi.org/10.1016/j.jacceco.2025.101849","url":null,"abstract":"We examine whether external assurance improves the quality of firms’ carbon accounting. We develop a measure of carbon accounting quality based on the deviation of reported emissions from a model-based expected level and supplement it with two survey-based measures. We show that assurance is associated with higher carbon accounting quality. This association is stronger when firms have weaker pre-existing carbon accounting systems and when assurance is more thorough. Consistent with assurance enhancing quality, assurance relates to the identification of issues in a firm’s carbon accounting system, along with fewer omissions and more revisions of prior disclosures. Exploiting mandated assurance for non-financial reporting in three E.U. countries, we show that firms experience post-regulation increases in carbon accounting quality. Together, the findings highlight the importance of assurance for reporting firms that are improving their carbon accounting quality.","PeriodicalId":42721,"journal":{"name":"International Journal of Economics Management and Accounting","volume":"191 1","pages":"101849"},"PeriodicalIF":1.2,"publicationDate":"2025-11-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145594264","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 : 2025-11-15DOI: 10.1016/j.jacceco.2025.101852
Neil Bhattacharya, Bidisha Chakrabarty, Matthew Ma, Jing Pan
As markets replace contractual liquidity providers (designated market makers; DMMs) with voluntary liquidity provision through cutting-edge technology, we investigate how this affects price discovery. Research suggests that endogenous liquidity provision is not always optimal. We investigate how DMMs affect the incorporation of earnings news into prices. Using a regression discontinuity design, we show that increased DMM participation facilitates earnings news discovery—lower JUMP, lower Synchronicity, and higher Future Earnings Response Coefficient. Greater DMM participation associates with improved liquidity, and induces greater informed trading as evidenced by more short selling on negative news and increased EDGAR and Bloomberg search activity before earnings announcements. Our results highlight an important and hitherto overlooked effect of modern technology on processing earnings information.
{"title":"Do Designated Market Makers Facilitate Earnings News Discovery?","authors":"Neil Bhattacharya, Bidisha Chakrabarty, Matthew Ma, Jing Pan","doi":"10.1016/j.jacceco.2025.101852","DOIUrl":"https://doi.org/10.1016/j.jacceco.2025.101852","url":null,"abstract":"As markets replace contractual liquidity providers (designated market makers; DMMs) with voluntary liquidity provision through cutting-edge technology, we investigate how this affects price discovery. Research suggests that endogenous liquidity provision is not always optimal. We investigate how DMMs affect the incorporation of earnings news into prices. Using a regression discontinuity design, we show that increased DMM participation facilitates earnings news discovery—lower <ce:italic>JUMP</ce:italic>, lower <ce:italic>Synchronicity</ce:italic>, and higher Future Earnings Response Coefficient. Greater DMM participation associates with improved liquidity, and induces greater informed trading as evidenced by more short selling on negative news and increased EDGAR and Bloomberg search activity before earnings announcements. Our results highlight an important and hitherto overlooked effect of modern technology on processing earnings information.","PeriodicalId":42721,"journal":{"name":"International Journal of Economics Management and Accounting","volume":"107 1","pages":""},"PeriodicalIF":1.2,"publicationDate":"2025-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145536360","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 : 2025-10-15DOI: 10.1016/j.jacceco.2025.101839
Daphne M. Armstrong, Stephen Glaeser
We examine whether taxpayer assistance with tax filing and compliance affects entrepreneurship. Taxpayer Assistance Centers help taxpayers, including entrepreneurs, to correctly file their taxes and navigate the tax system. We find that Taxpayer Assistance Centers positively associate with local entrepreneur entry and with overall Schedule C business income levels. We conclude that taxpayer assistance encourages traditional business entrepreneurship by reducing compliance costs that stem from tax complications and complexity.
{"title":"Does taxpayer assistance encourage entrepreneurship?","authors":"Daphne M. Armstrong, Stephen Glaeser","doi":"10.1016/j.jacceco.2025.101839","DOIUrl":"https://doi.org/10.1016/j.jacceco.2025.101839","url":null,"abstract":"We examine whether taxpayer assistance with tax filing and compliance affects entrepreneurship. Taxpayer Assistance Centers help taxpayers, including entrepreneurs, to correctly file their taxes and navigate the tax system. We find that Taxpayer Assistance Centers positively associate with local entrepreneur entry and with overall Schedule C business income levels. We conclude that taxpayer assistance encourages traditional business entrepreneurship by reducing compliance costs that stem from tax complications and complexity.","PeriodicalId":42721,"journal":{"name":"International Journal of Economics Management and Accounting","volume":"9 1","pages":""},"PeriodicalIF":1.2,"publicationDate":"2025-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145412266","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 : 2025-09-25DOI: 10.1016/j.jacceco.2025.101834
Carol Callaway Dee, Bing Luo, Elaine Wang, Jing Zhang
We examine whether critical audit matter (CAM) reporting improves internal controls over financial reporting. We propose that CAM reporting improves internal control quality. This is because CAM reporting incentivizes early identification and communication of internal control issues among auditors, management, and audit committees, and increases their attention and effort in high-risk CAM areas. We find that, compared to control companies, companies that implement CAM reporting experience a significant decrease in the likelihood of internal control material weaknesses (ICMWs), and the improvement in internal control quality is primarily at account-level rather than entity-level controls. We also find that CAM reporting significantly lowers the likelihood of accounting misstatements. Cross-sectional analyses suggest that the benefit of CAM reporting on internal control quality depends on audit committee quality and auditor effort. The survey results of audit partners and CFOs provide further support for our theory.
{"title":"Critical audit matters and internal control quality: The disciplining role of CAM reporting","authors":"Carol Callaway Dee, Bing Luo, Elaine Wang, Jing Zhang","doi":"10.1016/j.jacceco.2025.101834","DOIUrl":"https://doi.org/10.1016/j.jacceco.2025.101834","url":null,"abstract":"We examine whether critical audit matter (CAM) reporting improves internal controls over financial reporting. We propose that CAM reporting improves internal control quality. This is because CAM reporting incentivizes early identification and communication of internal control issues among auditors, management, and audit committees, and increases their attention and effort in high-risk CAM areas. We find that, compared to control companies, companies that implement CAM reporting experience a significant decrease in the likelihood of internal control material weaknesses (ICMWs), and the improvement in internal control quality is primarily at account-level rather than entity-level controls. We also find that CAM reporting significantly lowers the likelihood of accounting misstatements. Cross-sectional analyses suggest that the benefit of CAM reporting on internal control quality depends on audit committee quality and auditor effort. The survey results of audit partners and CFOs provide further support for our theory.","PeriodicalId":42721,"journal":{"name":"International Journal of Economics Management and Accounting","volume":"77 1","pages":"101834"},"PeriodicalIF":1.2,"publicationDate":"2025-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145242016","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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