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Extractive Sector Stakeholders' Perspectives of the Extractive Sector Transparency Measures Act (ESTMA)* 采掘业利益相关者对采掘业透明度措施法案(ESTMA)的看法*
IF 1.7 Q3 BUSINESS, FINANCE Pub Date : 2021-05-19 DOI: 10.1111/1911-3838.12259
Kareen Brown, Staci Kenno, Michelle Lau, Barbara Sainty

This commentary considers stakeholder perspectives of Canada's Extractive Sector Transparency Measures Act (ESTMA). In 2015, ESTMA was enacted under Canada's corporate social responsibility (CSR) strategy as a mandatory CSR reporting initiative requiring the financial disclosure of all payments relating to the commercial development of oil, gas, or minerals around the globe. Despite ESTMA's intended purpose to improve transparency and deter corruption within the global extractive sector, little remains known about the acceptance of this mandatory CSR initiative by extractive sector stakeholders. Success of this government initiative likely hinges upon stakeholder acceptance of ESTMA. This study reports the results of a survey of industry stakeholders, including managers, practitioners, and academics, on whether ESTMA positively or negatively affects transparency, financial performance, reputation, decision making, and the ability of firms to do business abroad. Findings indicate stakeholders in Canada believe ESTMA has improved transparency and has had a positive effect on the reputation of Canadian firms in the extractive sector with minimal costs to financial performance, changes to decision making, or effect on ability to conduct business abroad. Using a Canadian context, the findings provide important insights for regulators and practitioners, among other stakeholders, to better understand the effects of mandatory CSR initiatives, as well as the use of legislated financial disclosures as a CSR mechanism.

本评论考虑了加拿大采掘业透明度措施法案(ESTMA)的利益相关者观点。2015年,根据加拿大的企业社会责任(CSR)战略,ESTMA作为强制性的企业社会责任报告倡议,要求披露与全球石油、天然气或矿产商业开发相关的所有付款。尽管ESTMA旨在提高全球采掘业的透明度和遏制腐败,但采掘业利益相关者对这一强制性企业社会责任倡议的接受程度仍知之甚少。这项政府倡议的成功与否可能取决于利益相关者对ESTMA的接受程度。本研究报告了一项对行业利益相关者(包括管理者、从业者和学者)的调查结果,调查内容涉及ESTMA对透明度、财务绩效、声誉、决策和公司在海外开展业务的能力是积极还是消极的影响。调查结果表明,加拿大的利益相关者认为,ESTMA提高了透明度,并对加拿大采掘业公司的声誉产生了积极影响,同时对财务绩效、决策变化或海外业务能力产生了最小的影响。在加拿大的背景下,研究结果为监管机构和从业者以及其他利益相关者提供了重要的见解,以更好地理解强制性企业社会责任举措的影响,以及将立法财务披露作为企业社会责任机制的使用。
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引用次数: 2
Big Town Hydro: An Accounting Choice Case* 大城镇水电:会计选择案例*
IF 1.7 Q3 BUSINESS, FINANCE Pub Date : 2021-05-19 DOI: 10.1111/1911-3838.12260
Yan Jin, Flora Niu

This fictional case is based on the real-world events when a Canadian public electric utility company adopted IFRS. Many of these firms previously used US GAAP. In this context, the case gives students the opportunity to research key differences between IFRS and US GAAP relevant to utility industries, discuss the impact of IFRS standards on a firm's performance, and make recommendations on important business decisions. Specifically, this case exposes students to (i) the rate-regulated electric utility industry and complex regulatory deferral accounts; (ii) the impact of IFRS adoption on key financial ratios and bond issuance decisions; and (iii) a what-if analysis in making business decisions under the new IFRS 16 standard. This case is suitable for use in undergraduate or graduate intermediate level financial accounting courses. It can also be explored in an advanced level or public sector accounting class.

这个虚构的案例是基于加拿大公共电力公司采用国际财务报告准则的现实事件。其中许多公司以前使用的是美国公认会计准则。在此背景下,本案例使学生有机会研究与公用事业行业相关的国际财务报告准则和美国公认会计准则之间的主要差异,讨论国际财务报告准则对公司业绩的影响,并就重要的商业决策提出建议。具体来说,这个案例让学生接触到(i)受费率管制的电力公用事业行业和复杂的监管延期账户;(ii)采用国际财务报告准则对关键财务比率和债券发行决策的影响;以及(iii)在新的IFRS 16准则下做出业务决策时的假设分析。本案例适用于本科或研究生中级财务会计课程。它也可以在高级课程或公共部门会计课程中探索。
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引用次数: 1
Resilience, Psychological Distress, and Academic Burnout among Accounting Students* 会计专业学生心理弹性、心理困扰与学业倦怠*
IF 1.7 Q3 BUSINESS, FINANCE Pub Date : 2021-03-19 DOI: 10.1111/1911-3838.12254
Kenneth J. Smith, David J. Emerson

This study's objective is to examine the role of resilience in the dynamic between academic burnout and psychological distress using a sample of US undergraduate accounting majors. It extends prior research—that is, García-Izquierdo et al. (2018), who examine these relationships using a sample of Spanish nursing students. For this study, a survey instrument was concurrently administered to 443 accounting majors at four geographically dispersed universities. Two alternative models are tested. The first model positions resilience as an exogenous predictor, and dimensions of academic burnout antecedent to psychological distress. The results indicate a significant negative association between resilience, psychological distress, and each of the three academic burnout dimensions. In addition, emotional exhaustion and academic inefficacy have a significant positive association with psychological distress. The alternative model positions psychological distress antecedent to each of the academic burnout dimensions. The results indicate that resilience has a significant negative association with psychological distress, cynicism, and academic inefficacy, but not emotional exhaustion. Moreover, psychological distress has significant positive associations with each academic burnout dimension. In the alternative model specification, resilience is also found to moderate the association between psychological distress and academic inefficacy. This single moderating effect notwithstanding, the findings suggest that the primary role of resilience is that of a compensatory mechanism by acting as an independent exogenous predictor of distress and burnout.

本研究的目的是考察弹性在学业倦怠和心理困扰之间的动态关系中的作用,以美国会计专业本科生为样本。它扩展了先前的研究,即García-Izquierdo等人(2018),他们使用西班牙护理学生的样本来检查这些关系。本研究采用问卷调查的方法,同时对四所地理位置分散的大学443名会计专业学生进行问卷调查。测试了两种可供选择的模型。第一个模型将弹性定位为外生预测因子,并且学业倦怠的维度先于心理困扰。结果表明,心理弹性、心理困扰与学业倦怠三个维度均呈显著负相关。此外,情绪耗竭和学业无效与心理困扰有显著正相关。备选模型将心理困扰置于学业倦怠的每个维度之前。结果表明,心理弹性与心理困扰、玩世不恭、学业无能呈显著负相关,与情绪衰竭无显著负相关。此外,心理困扰与学业倦怠各维度均有显著正相关。在替代模型规范中,弹性也被发现调节心理困扰与学业无效之间的关联。尽管存在这种单一的调节作用,但研究结果表明,恢复力的主要作用是作为一种补偿机制,作为一种独立的外源预测因素,作为痛苦和倦怠。
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引用次数: 8
Financial Reporting & Assurance Standards (FRAS) Canada Corner 财务报告与鉴证准则(FRAS)加拿大角
IF 1.7 Q3 BUSINESS, FINANCE Pub Date : 2021-03-08 DOI: 10.1111/1911-3838.12252
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引用次数: 0
Audit Committee Financial Expertise, Litigation Risk, and Auditor-Provided Tax Services* 审计委员会财务专业知识、诉讼风险和审计师提供的税务服务*
IF 1.7 Q3 BUSINESS, FINANCE Pub Date : 2021-02-22 DOI: 10.1111/1911-3838.12236
Jean Bédard, Suzanne M. Paquette

The Sarbanes-Oxley Act (SOX) greatly expanded audit committees' oversight responsibilities by requiring that they preapprove all non-prohibited non-audit services (NAS). Using data from 2003 to 2011, we find that tax NAS are significantly lower when accounting financial experts (ACT-FEs) serve on the audit committee, suggesting that ACT-FEs consider auditor independence risk, perceived and/or real, more than other members, including supervisory experts, to the point of not accepting any tax NAS, not even compliance. However, in firms with higher ex ante litigation risk, ACT-FEs approve relatively more tax NAS than other members, suggesting that they accept the costs of a perceived lack of auditor independence from tax NAS in return for the potential benefits of increased financial reporting quality arising from tax NAS. Our analysis by subperiod (2003–2006 vs. 2007–2011) shows that this result is significant only in the second period. ACT-FEs' differential evaluation of the trade-off between the benefits and costs of joint audit and tax NAS provision between the two periods suggests the need for additional research in later post-SOX years.

萨班斯-奥克斯利法案(SOX)通过要求审计委员会预先批准所有非禁止的非审计服务(NAS),极大地扩展了审计委员会的监督责任。利用2003年至2011年的数据,我们发现会计财务专家(ACT-FEs)在审计委员会任职时,税务NAS显著降低,这表明ACT-FEs比其他成员(包括监管专家)更考虑审计师独立性风险(感知和/或真实),以至于不接受任何税务NAS,甚至不接受合规性。然而,在事前诉讼风险较高的公司中,act - fe比其他成员批准了相对更多的税务NAS,这表明他们接受了审计人员缺乏独立性的成本,以换取税务NAS带来的财务报告质量提高的潜在好处。我们对子时期(2003-2006年与2007-2011年)的分析表明,这一结果仅在第二个时期具有重要意义。ACT-FEs对两个时期之间联合审计和税收NAS提供的收益和成本之间权衡的差异评估表明,有必要在sox法案后的后期进行进一步研究。
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引用次数: 7
Toward an Archival Measure of the Likelihood of Auditor–Client Management Negotiation: An Exploration of the Audit Lag Measures Conjecture* 审计与客户管理协商可能性的档案度量:审计滞后度量猜想的探索*
IF 1.7 Q3 BUSINESS, FINANCE Pub Date : 2021-01-29 DOI: 10.1111/1911-3838.12237
Yan Luo, Steven E. Salterio

Salterio (2012) hypothesized that adaptations of an audit efficiency measure, audit report lag (the length of time between the financial statement year-end date and the auditor's report date), could provide measures of underlying auditor–client management (ACM) negotiation likelihood. Salterio argued that these measures would enable archival researchers to examine issues that heretofore were the exclusive domain of experimental and field researchers. Using an audit report lag measure and a measure of abnormal audit report lag lags (the residual based on audit report lag determinants model), we show that a larger lag is associated with higher audit fees after controlling for other known determinants of audit fees. We also show that larger lags are associated with higher levels of discretionary accruals—that is, lower accrual quality. Based on our findings, we suggest that there is support for Salterio's hypothesis that audit report lags and abnormal audit report provide valid archival proxies for the differences in year-end ACM negotiation likelihood. We suggest that this proxy will allow researchers to study issues related to published accounting numbers in light of whether negotiations are likely to have occurred in addition to providing regulators and others the means to determine what clients of audit firms are more likely to have different types of ACM relationships.

Salterio(2012)假设审计效率指标审计报告滞后(财务报表结束日与审计师报告日之间的时间长度)的调整可以提供基础审计师-客户管理(ACM)谈判可能性的指标。Salterio认为,这些措施将使档案研究人员能够检查迄今为止是实验和现场研究人员专属领域的问题。使用审计报告滞后度量和异常审计报告滞后度量(基于审计报告滞后决定因素模型的残差),我们表明,在控制了审计费用的其他已知决定因素后,较大的滞后与较高的审计费用相关。我们还表明,较大的滞后与较高的可自由支配应计收益水平相关,即较低的应计质量。基于我们的研究结果,我们建议支持Salterio的假设,即审计报告滞后和异常审计报告为年终ACM协商可能性的差异提供了有效的档案代理。我们建议,除了为监管机构和其他人提供确定审计公司的哪些客户更有可能拥有不同类型的ACM关系的手段外,该代理还将允许研究人员根据谈判是否可能发生来研究与已公布的会计数字相关的问题。
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引用次数: 1
Financial Reporting Quality and Investors' Divergence of Opinion* 财务报告质量与投资者意见分歧*
IF 1.7 Q3 BUSINESS, FINANCE Pub Date : 2021-01-18 DOI: 10.1111/1911-3838.12250
Diogo Silva, António Cerqueira

The main purpose of this study is to analyze the association of financial reporting quality and investors' divergence of opinion. We focus on UK firms listed on the London Stock Exchange. Divergence of opinion is measured by two proxies based on unexpected trading volume and by dispersion in analysts' forecasts made one and two years ahead. Previous literature shows that the amount of firms' disclosure is negatively associated with the dispersion in analysts' forecasts. The results obtained in our study show that the quality of the disclosure is negatively associated with divergence of opinion, whether it is proxied by measures of unexpected trading volume or dispersion in analysts' forecasts. Financial reporting quality affects divergence of opinion not only in the months that immediately follow the disclosure of the reports but in the whole year that follows.

本研究的主要目的是分析财务报告质量与投资者意见分歧的关系。我们专注于在伦敦证券交易所上市的英国公司。意见分歧是通过两个基于意外交易量的指标来衡量的,另一个指标是分析师对未来一年和两年预测的差异。先前的文献表明,公司披露的数量与分析师预测的离散度呈负相关。我们的研究结果表明,披露的质量与意见分歧呈负相关,无论是以意外交易量的度量还是分析师预测的分散来表示。财务报告质量不仅在报告披露后的几个月内影响意见分歧,而且在随后的一整年也会影响意见分歧。
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引用次数: 2
Airbnb Property Management: Performance Evaluation of a Rental Property* Airbnb物业管理:出租物业的绩效评估*
IF 1.7 Q3 BUSINESS, FINANCE Pub Date : 2021-01-16 DOI: 10.1111/1911-3838.12249
Matthew Boland

This teaching case requires students to generate performance evaluation reports for a short-term rental property. The case demonstrates the need to analyze variances and think critically about the potential causes of these variances and assess management performance. Students are also required to make forward-looking recommendations based on the local business environment for short-term rental properties.

本教学案例要求学生为一个短租物业生成绩效评估报告。这个案例证明了分析差异的必要性,批判性地思考这些差异的潜在原因,并评估管理绩效。学生还需要根据当地的商业环境对短租物业提出前瞻性的建议。
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引用次数: 0
Giving Customers Decision Rights: A Field Study of Pay-What-You-Want Pricing at a Performing Arts Theater* 赋予客户决策权:表演艺术剧院按需付费定价的实地研究*
IF 1.7 Q3 BUSINESS, FINANCE Pub Date : 2021-01-16 DOI: 10.1111/1911-3838.12251
Jacob Birnberg, Jongwoon (Willie) Choi, Adam Presslee

We conduct a field study at a performing arts theater offering pay-what-you-want (PWYW) pricing as one of several pricing options to purchase tickets. While offering PWYW in this setting introduces multiple layers of self-selection, we find PWYW attendees are not a homogeneous group. Rather, attendees have distinct identities that vary in the extent to which they view PWYW as an economic transaction or a social exchange. We also find the effect of PWYW on subsequent consumption behavior is asymmetric. PWYW attendees do not subsequently become season subscribers. However, when the PWYW option was offered for a different performance, some season subscribers to that performance canceled their season ticket subscriptions with plans to use PWYW in the future, resulting in potentially lost revenues and a smaller season subscriber base. Thus, using PWYW as part of multiple pricing strategy may be especially costly when firms rely on dedicated patronage by consumers.

我们在一家表演艺术剧院进行了实地研究,该剧院提供按需付费(PWYW)定价作为购票的几种定价选项之一。虽然在这种情况下提供PWYW引入了多层次的自我选择,但我们发现PWYW的参与者并不是一个同质的群体。相反,与会者有不同的身份,他们将PWYW视为经济交易或社会交换的程度各不相同。我们还发现PWYW对后续消费行为的影响是不对称的。PWYW参加者随后不会成为季节订阅者。然而,当PWYW选项被提供给另一场演出时,一些该演出的季票订阅者取消了他们的季票订阅,并计划在未来使用PWYW,这导致了潜在的收入损失和季票订阅者基数的减少。因此,使用PWYW作为多重定价策略的一部分,当公司依赖于消费者的专门赞助时,可能会特别昂贵。
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引用次数: 1
Teaching Corporate Governance in an MBA Class: An Academic Note* 在MBA课堂上教授公司治理:一个学术笔记*
IF 1.7 Q3 BUSINESS, FINANCE Pub Date : 2021-01-11 DOI: 10.1111/1911-3838.12248
Hanen Khemakhem, Richard Fontaine, Christian Bégin

Corporate governance is a new and emerging discipline in academia. The discipline of corporate governance has increased in importance, driven mostly by multiple financial scandals. These scandals have motivated regulators and the business community to require business professionals who are properly trained in various aspects of corporate governance. The problem, however, is that corporate governance covers many different subjects, such as finance, strategy, and law. This problem of multidimensionality of corporate governance is coupled with the fact that it is a field of study that has rapidly changed to keep up with changing regulations and the changing needs of the business community. These problems make the task of teaching corporate governance challenging for educators. Notwithstanding these challenges, business programs for MBA and CPA students are incorporating corporate governance into their programs. Therefore, our objective is to provide reflections on our three-year experience of teaching corporate governance. We highlight the challenges that we experienced, such as the diversity of the clientele and the multidisciplinarity of corporate governance, and we discuss how we addressed these challenges. We also identity opportunities we used to develop our teaching approach, such as team teaching and using data from real companies. We present our reflections with the help of education frameworks that should help the community of educators if faced with challenges similar to ours.

公司治理是学术界一门新兴的学科。公司治理纪律的重要性日益增强,这主要是受到多起财务丑闻的推动。这些丑闻促使监管机构和商界要求在公司治理的各个方面接受过适当培训的商业专业人士。然而,问题在于公司治理涵盖了许多不同的主题,如财务、战略和法律。公司治理的多维性问题与一个事实相结合,即它是一个迅速变化的研究领域,以跟上不断变化的法规和商界不断变化的需求。这些问题使得教授公司治理的任务对教育工作者来说具有挑战性。尽管存在这些挑战,针对MBA和CPA学生的商业课程正在将公司治理纳入他们的课程中。因此,我们的目标是提供对我们三年公司治理教学经验的反思。我们强调了我们所经历的挑战,例如客户的多样性和公司治理的多学科性,并讨论了我们如何应对这些挑战。我们还发现了发展教学方法的机会,比如团队教学和使用真实公司的数据。我们在教育框架的帮助下提出我们的思考,如果面临与我们类似的挑战,这些框架应该有助于教育工作者社区。
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引用次数: 2
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Accounting Perspectives
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