Pub Date : 2025-07-16DOI: 10.1016/j.cjar.2025.100435
Yunjiang Geng, Yuelong Wang, Shuaijun Wu
Amid sluggish global growth and rising uncertainties, supply chain stability is vital for sustaining economic production. Although studies examine the impacts of supply chain relationships on firm performance, their effect on total factor productivity (TFP) remains unexplored. Using data from 1559 A-share listed companies in China (2008–2022), this study examines customer stability’s impact on TFP and finds that customer stability enhances TFP by reducing Type I agency costs and improving firm reputation. It also generates significant spillover effects, increasing customer TFP through supply chain finance. This effect is more pronounced for firms in high-tech industries and regions with higher marketization and social trust. These findings offer new insights into enhancing firms’ efficiency through effective supply chain relationship management.
{"title":"Acquaintance means booster? Why stable customers matter for firm productivity","authors":"Yunjiang Geng, Yuelong Wang, Shuaijun Wu","doi":"10.1016/j.cjar.2025.100435","DOIUrl":"10.1016/j.cjar.2025.100435","url":null,"abstract":"<div><div>Amid sluggish global growth and rising uncertainties, supply chain stability is vital for sustaining economic production. Although studies examine the impacts of supply chain relationships on firm performance, their effect on total factor productivity (TFP) remains unexplored. Using data from 1559 A-share listed companies in China (2008–2022), this study examines customer stability’s impact on TFP and finds that customer stability enhances TFP by reducing Type I agency costs and improving firm reputation. It also generates significant spillover effects, increasing customer TFP through supply chain finance. This effect is more pronounced for firms in high-tech industries and regions with higher marketization and social trust. These findings offer new insights into enhancing firms’ efficiency through effective supply chain relationship management.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 3","pages":"Article 100435"},"PeriodicalIF":1.9,"publicationDate":"2025-07-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144633416","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 : 2025-07-05DOI: 10.1016/j.cjar.2025.100434
Wenwen Li , Ting Li , Hongjun Zhu
This study investigates the impact of an accounting firm’s providing both an annual report audit and environmental, social and governance (ESG) report assurance on its audit quality. We find that when the same accounting firm is responsible for both the annual report audit and ESG report assurance, this does not compromise the accounting firm’s independence. On the contrary, it enhances audit quality through knowledge spillover effects and increased investment in reputational capital. Additional evidence suggests that providing ESG report assurance also prompts the accounting firm to allocate more audit resources, thereby influencing audit quality. In cross-sectional results, consistent with expectations, we find that the knowledge spillover and reputational effects of ESG report assurance are more pronounced for companies with weaker internal controls, non-A + H share companies and companies receiving lower levels of analyst attention. Finally, we document that having the same accounting firm responsible for ESG report assurance and annual report audit increases audit fees and also contributes to enhanced firm value. This study comprehensively highlights the influence of ESG report assurance on audit quality, and its findings offer valuable insights into the economic consequences of ESG report assurance practices.
{"title":"Annual report audit, ESG report assurance and audit quality: Evidence from the same accounting firm","authors":"Wenwen Li , Ting Li , Hongjun Zhu","doi":"10.1016/j.cjar.2025.100434","DOIUrl":"10.1016/j.cjar.2025.100434","url":null,"abstract":"<div><div>This study investigates the impact of an accounting firm’s providing both an annual report audit and environmental, social and governance (ESG) report assurance on its audit quality. We find that when the same accounting firm is responsible for both the annual report audit and ESG report assurance, this does not compromise the accounting firm’s independence. On the contrary, it enhances audit quality through knowledge spillover effects and increased investment in reputational capital. Additional evidence suggests that providing ESG report assurance also prompts the accounting firm to allocate more audit resources, thereby influencing audit quality. In cross-sectional results, consistent with expectations, we find that the knowledge spillover and reputational effects of ESG report assurance are more pronounced for companies with weaker internal controls, non-A + H share companies and companies receiving lower levels of analyst attention. Finally, we document that having the same accounting firm responsible for ESG report assurance and annual report audit increases audit fees and also contributes to enhanced firm value. This study comprehensively highlights the influence of ESG report assurance on audit quality, and its findings offer valuable insights into the economic consequences of ESG report assurance practices.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 3","pages":"Article 100434"},"PeriodicalIF":1.9,"publicationDate":"2025-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144563664","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 : 2025-06-10DOI: 10.1016/j.cjar.2025.100433
Xuena Liu, Jiemei Liu, Lu Pan
Exploiting the Opinions on Establishing an Accountability System for Illegal Operations and Investments in State-owned Enterprises (SOEs) as a quasi-experiment, we find that although accountability for illegal operations and investments (AIOI) effectively reduces accrual-based earnings management, it also prompts SOEs to resort to covert real earnings management tactics, suggesting a transfer effect between them. This effect is more pronounced in SOEs with weaker digital transformation and decentralized decision-making power. Our mechanism analysis reveals that AIOI primarily influences SOEs’ earnings management strategies by improving the external supervision environment and the internal organizational environment. Further analysis of the economic consequences shows that AIOI ultimately enhances the overall value of SOEs.
{"title":"Does accountability for illegal operations and investments affect SOEs’ earnings management strategies? Evidence from China","authors":"Xuena Liu, Jiemei Liu, Lu Pan","doi":"10.1016/j.cjar.2025.100433","DOIUrl":"10.1016/j.cjar.2025.100433","url":null,"abstract":"<div><div>Exploiting the Opinions on Establishing an Accountability System for Illegal Operations and Investments in State-owned Enterprises (SOEs) as a quasi-experiment, we find that although accountability for illegal operations and investments (AIOI) effectively reduces accrual-based earnings management, it also prompts SOEs to resort to covert real earnings management tactics, suggesting a transfer effect between them. This effect is more pronounced in SOEs with weaker digital transformation and decentralized decision-making power. Our mechanism analysis reveals that AIOI primarily influences SOEs’ earnings management strategies by improving the external supervision environment and the internal organizational environment. Further analysis of the economic consequences shows that AIOI ultimately enhances the overall value of SOEs.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 3","pages":"Article 100433"},"PeriodicalIF":1.9,"publicationDate":"2025-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144241552","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 : 2025-06-05DOI: 10.1016/j.cjar.2025.100432
Xinyan Miao , Shaofei Wang , Yue Wang , Bo Zhou
The widespread use of boilerplate disclosures in financial reporting has led regulators to express concerns about the decision-usefulness of annual reports. We conduct two experiments to determine the effects of risk management disclosure presence and specificity on nonprofessional investors’ judgments. In Experiment 1, we manipulate risk management disclosure at three levels (non-disclosure vs. generic or specific risk management disclosures). Relative to the non-disclosure condition, nonprofessional investors exhibit more favorable investment judgments when provided with a specific risk management disclosure. However, generic disclosure has a negligible influence on nonprofessional investors’ judgments. We find no convincing evidence supporting potential alternative explanations. Experiment 2 confirms this mechanism and provides further evidence that the observed effects are not driven by the lengths of specific disclosures.
{"title":"Fruitless effort? The effects of risk management disclosure specificity on nonprofessional investors’ judgments","authors":"Xinyan Miao , Shaofei Wang , Yue Wang , Bo Zhou","doi":"10.1016/j.cjar.2025.100432","DOIUrl":"10.1016/j.cjar.2025.100432","url":null,"abstract":"<div><div>The widespread use of boilerplate disclosures in financial reporting has led regulators to express concerns about the decision-usefulness of annual reports. We conduct two experiments to determine the effects of risk management disclosure presence and specificity on nonprofessional investors’ judgments. In Experiment 1, we manipulate risk management disclosure at three levels (non-disclosure vs. generic or specific risk management disclosures). Relative to the non-disclosure condition, nonprofessional investors exhibit more favorable investment judgments when provided with a specific risk management disclosure. However, generic disclosure has a negligible influence on nonprofessional investors’ judgments. We find no convincing evidence supporting potential alternative explanations. Experiment 2 confirms this mechanism and provides further evidence that the observed effects are not driven by the lengths of specific disclosures.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 3","pages":"Article 100432"},"PeriodicalIF":1.9,"publicationDate":"2025-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144223580","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 : 2025-06-02DOI: 10.1016/j.cjar.2025.100431
Min Chen , Li Huang , Oliver Zhen Li , Chunlong Zhang
We examine Qin Dynasty (221 to 207 BCE) wood bookkeeping slips from 217 to 210 BCE unearthed in Hunan province, China. While purely written slips were unearthed before, these slips are unique in that they contain written records of details of transactions as well as notches on their sides that represent the quantities of money or measures of commodities involved. Scholars have speculated that ancient engraving, notching or tokening before the development of written language could be bookkeeping/accounting. We show a form of bookkeeping combining notching with written records that emerged at a point in Chinese history where a region saw a temporary dip in local literacy. Notching reappeared to compensate for the loss in literacy to prevent fraud and reduce bookkeepers’ risk of being accused of fraud. This form of dual-method bookkeeping adds credence to the conjecture that prehistorical, pre-language notching, engraving or tokening was likely bookkeeping/accounting.
{"title":"Ancient notching or tokening as bookkeeping – Evidence from wood slips in China during 217–210 BCE","authors":"Min Chen , Li Huang , Oliver Zhen Li , Chunlong Zhang","doi":"10.1016/j.cjar.2025.100431","DOIUrl":"10.1016/j.cjar.2025.100431","url":null,"abstract":"<div><div>We examine Qin Dynasty (221 to 207 BCE) wood bookkeeping slips from 217 to 210 BCE unearthed in Hunan province, China. While purely written slips were unearthed before, these slips are unique in that they contain written records of details of transactions as well as notches on their sides that represent the quantities of money or measures of commodities involved. Scholars have speculated that ancient engraving, notching or tokening before the development of written language could be bookkeeping/accounting. We show a form of bookkeeping combining notching with written records that emerged at a point in Chinese history where a region saw a temporary dip in local literacy. Notching reappeared to compensate for the loss in literacy to prevent fraud and reduce bookkeepers’ risk of being accused of fraud. This form of dual-method bookkeeping adds credence to the conjecture that prehistorical, pre-language notching, engraving or tokening was likely bookkeeping/accounting.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 3","pages":"Article 100431"},"PeriodicalIF":1.9,"publicationDate":"2025-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144195734","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 : 2025-05-22DOI: 10.1016/j.cjar.2025.100422
Songlian Tang, Jiangnan Geng
The digital transformation of communication media has been widely adopted and has reshaped institutional investor interactions. We examine how the linguistic concreteness of investors’ questions adapts to online media and face-to-face communication, using textual analysis of investor–company Q&A transcripts from Chinese listed firms. We find that online media environments induce investors to enhance linguistic precision, to compensate for reduced nonverbal cues and social presence. This mechanism is moderated by sender characteristics, message attributes and response concreteness patterns. Such adjustments counteract media-induced information loss, evidenced by improved analyst forecast accuracy. Our study represents a practical application of Lasswell’s “5W” communication model in the context of corporate information disclosure and expands research on the impact of digital technology on communication media, offering insights into the balance between sender intent and media characteristics.
{"title":"Communication media and linguistic concreteness: evidence from firm site visits in China","authors":"Songlian Tang, Jiangnan Geng","doi":"10.1016/j.cjar.2025.100422","DOIUrl":"10.1016/j.cjar.2025.100422","url":null,"abstract":"<div><div>The digital transformation of communication media has been widely adopted and has reshaped institutional investor interactions. We examine how the linguistic concreteness of investors’ questions adapts to online media and face-to-face communication, using textual analysis of investor–company Q&A transcripts from Chinese listed firms. We find that online media environments induce investors to enhance linguistic precision, to compensate for reduced nonverbal cues and social presence. This mechanism is moderated by sender characteristics, message attributes and response concreteness patterns. Such adjustments counteract media-induced information loss, evidenced by improved analyst forecast accuracy. Our study represents a practical application of Lasswell’s “5W” communication model in the context of corporate information disclosure and expands research on the impact of digital technology on communication media, offering insights into the balance between sender intent and media characteristics.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 3","pages":"Article 100422"},"PeriodicalIF":4.0,"publicationDate":"2025-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144781490","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 : 2025-04-30DOI: 10.1016/j.cjar.2025.100421
Shangkun Liang , Sichao Wang , Kaijuan Gao
Using a sample of listed Chinese firms from 2007 to 2020, we investigate the governance implications of cross-ownership in corporate bond markets. We find that cross-ownership significantly reduces bond issuance spreads, suggesting that synergistic governance effects outweigh potential collusion risks. This effect operates through two channels: reducing information asymmetry between shareholders and creditors and lowering firm risk. The effect is stronger when cross-owners hold shares in more peer firms and retain shares longer but weaker for state-owned enterprises, long-term bonds and firms with robust information intermediaries. Our findings contribute to the corporate governance literature by demonstrating how cross-ownership enhances creditor protection, providing insights into optimizing ownership structures for debt financing, particularly in emerging markets with inadequate institutional monitoring.
{"title":"Cross-owners and bond issue pricing: coordination or collusion?","authors":"Shangkun Liang , Sichao Wang , Kaijuan Gao","doi":"10.1016/j.cjar.2025.100421","DOIUrl":"10.1016/j.cjar.2025.100421","url":null,"abstract":"<div><div>Using a sample of listed Chinese firms from 2007 to 2020, we investigate the governance implications of cross-ownership in corporate bond markets. We find that cross-ownership significantly reduces bond issuance spreads, suggesting that synergistic governance effects outweigh potential collusion risks. This effect operates through two channels: reducing information asymmetry between shareholders and creditors and lowering firm risk. The effect is stronger when cross-owners hold shares in more peer firms and retain shares longer but weaker for state-owned enterprises, long-term bonds and firms with robust information intermediaries. Our findings contribute to the corporate governance literature by demonstrating how cross-ownership enhances creditor protection, providing insights into optimizing ownership structures for debt financing, particularly in emerging markets with inadequate institutional monitoring.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 2","pages":"Article 100421"},"PeriodicalIF":1.9,"publicationDate":"2025-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143937782","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 : 2025-04-29DOI: 10.1016/j.cjar.2025.100420
Yanan Tian , Yuhui Wu , Yun Zhang , Zhilun Zhang
Carbon information disclosure is crucial for combating climate change, but firms often face cost and market constraints that limit their willingness to disclose. We focus on green underwriters as financial intermediaries to examine their influence on corporate carbon information disclosure. We find that green underwriters significantly improve disclosure levels through information and monitoring effects. Cross-sectional analyses reveal that this positive association is more pronounced among firms with close underwriting relationships, high-carbon firms and environmentally friendly firms. Furthermore, we rule out collusion between underwriters and issuers, showing that green underwriters reduce proprietary costs while increasing market share and recognition from green funds. Our research highlights the monitor role of green financial intermediaries in promoting carbon disclosure and introduces new applications for textual analysis in this area.
{"title":"Green underwriters and carbon information disclosure","authors":"Yanan Tian , Yuhui Wu , Yun Zhang , Zhilun Zhang","doi":"10.1016/j.cjar.2025.100420","DOIUrl":"10.1016/j.cjar.2025.100420","url":null,"abstract":"<div><div>Carbon information disclosure is crucial for combating climate change, but firms often face cost and market constraints that limit their willingness to disclose. We focus on green underwriters as financial intermediaries to examine their influence on corporate carbon information disclosure. We find that green underwriters significantly improve disclosure levels through information and monitoring effects. Cross-sectional analyses reveal that this positive association is more pronounced among firms with close underwriting relationships, high-carbon firms and environmentally friendly firms. Furthermore, we rule out collusion between underwriters and issuers, showing that green underwriters reduce proprietary costs while increasing market share and recognition from green funds. Our research highlights the monitor role of green financial intermediaries in promoting carbon disclosure and introduces new applications for textual analysis in this area.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 2","pages":"Article 100420"},"PeriodicalIF":1.9,"publicationDate":"2025-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143937785","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 : 2025-04-23DOI: 10.1016/j.cjar.2025.100417
Bin Li, Yunzhi Lin, Wendai Lv
Drawing on practice theory and Confucian ecological philosophy, this paper explores the relationship between Confucianism and corporate climate change awareness. Using a sample of Chinese A-share listed companies, we find that companies more influenced by Confucianism exhibit stronger climate change awareness. This positive relationship is further strengthened by government environmental governance. Impact channel tests show that Confucianism enhances corporate climate change awareness by promoting humanism, deontology and collectivism. Heterogeneity analysis shows that the positive correlation between Confucianism and climate change awareness persists in both non-carbon-intensive industries and struggling companies. Lastly, economic consequence tests indicate that Confucianism helps reduce corporate carbon emissions by enhancing climate change awareness.
{"title":"Confucianism and corporate awareness of climate change","authors":"Bin Li, Yunzhi Lin, Wendai Lv","doi":"10.1016/j.cjar.2025.100417","DOIUrl":"10.1016/j.cjar.2025.100417","url":null,"abstract":"<div><div>Drawing on practice theory and Confucian ecological philosophy, this paper explores the relationship between Confucianism and corporate climate change awareness. Using a sample of Chinese A-share listed companies, we find that companies more influenced by Confucianism exhibit stronger climate change awareness. This positive relationship is further strengthened by government environmental governance. Impact channel tests show that Confucianism enhances corporate climate change awareness by promoting humanism, deontology and collectivism. Heterogeneity analysis shows that the positive correlation between Confucianism and climate change awareness persists in both non-carbon-intensive industries and struggling companies. Lastly, economic consequence tests indicate that Confucianism helps reduce corporate carbon emissions by enhancing climate change awareness.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 2","pages":"Article 100417"},"PeriodicalIF":1.9,"publicationDate":"2025-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143937807","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 : 2025-04-10DOI: 10.1016/j.cjar.2025.100419
Yanan Wang , Shuai Wang , Dongmin Kong , Cheng Xue
Research on government procurement emphasizes its positive impacts, while paying insufficient attention to the risks posed by government arrears. We show that the implementation of China’s Special Supervision Action for Repaying Government Arrears significantly enhances employee treatment, particularly safety management and employee incentives, through monetary compensation, welfare, social security expenditure and investment in skilled human capital. The Special Supervision Action improves employee treatment by alleviating liquidity constraints and enhancing CEO confidence, which in turn boost firm productivity and performance. Cross-sectional tests indicate that the number of nearby bank branches, political connections, financial health, demand for human capital and external job opportunities affect these relationships. Our findings highlight the influence of government arrears repayment on corporate human capital investment.
{"title":"Refining employee treatment: Effects of government arrears repayment in China","authors":"Yanan Wang , Shuai Wang , Dongmin Kong , Cheng Xue","doi":"10.1016/j.cjar.2025.100419","DOIUrl":"10.1016/j.cjar.2025.100419","url":null,"abstract":"<div><div>Research on government procurement emphasizes its positive impacts, while paying insufficient attention to the risks posed by government arrears. We show that the implementation of China’s Special Supervision Action for Repaying Government Arrears significantly enhances employee treatment, particularly safety management and employee incentives, through monetary compensation, welfare, social security expenditure and investment in skilled human capital. The Special Supervision Action improves employee treatment by alleviating liquidity constraints and enhancing CEO confidence, which in turn boost firm productivity and performance. Cross-sectional tests indicate that the number of nearby bank branches, political connections, financial health, demand for human capital and external job opportunities affect these relationships. Our findings highlight the influence of government arrears repayment on corporate human capital investment.</div></div>","PeriodicalId":45688,"journal":{"name":"China Journal of Accounting Research","volume":"18 2","pages":"Article 100419"},"PeriodicalIF":1.9,"publicationDate":"2025-04-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143937805","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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