Pub Date : 2022-08-08DOI: 10.1108/par-07-2021-0120
Saisai Li, Qianhua Lei, Liuyang Ren
Purpose With the development of the economy, an increasing number of listed companies form subsidiaries in China. Though the increase in the number of subsidiaries affects the hierarchical structure and risk of conglomerates, few studies relate the hierarchical relationship between the parent company and its subsidiaries to its capital market performance at the conglomerate level. Therefore, this study aims to investigate the relationship between the number of subsidiaries and crash risk. Design/methodology/approach Using a sample of all the A-share companies in the Shanghai and Shenzhen stock markets from 2007 to 2015, this study conducts multivariate regression analyses between the number of subsidiaries and the stock price crash risk. Findings This study finds an inversed U relationship between the number of subsidiaries and the stock price crash risk, and the above inversed U relationship is steeper in conglomerates with stronger managerial power and less finance distress. Originality/value This research has an incremental contribution to the agency problem and governance effect of the parent–subsidiary system in conglomerates. To the best of the authors’ knowledge, this is the first study to show a significant quadratic relationship between the future crash risk and the number of subsidiaries. This paper provides new evidence that the number of subsidiaries has an incremental ability to predict future firm-specific crash risk above other predictors identified by previous research.
{"title":"The increasing number of subsidiaries and stock price crash risk: evidence from the Chinese stock market","authors":"Saisai Li, Qianhua Lei, Liuyang Ren","doi":"10.1108/par-07-2021-0120","DOIUrl":"https://doi.org/10.1108/par-07-2021-0120","url":null,"abstract":"\u0000Purpose\u0000With the development of the economy, an increasing number of listed companies form subsidiaries in China. Though the increase in the number of subsidiaries affects the hierarchical structure and risk of conglomerates, few studies relate the hierarchical relationship between the parent company and its subsidiaries to its capital market performance at the conglomerate level. Therefore, this study aims to investigate the relationship between the number of subsidiaries and crash risk.\u0000\u0000\u0000Design/methodology/approach\u0000Using a sample of all the A-share companies in the Shanghai and Shenzhen stock markets from 2007 to 2015, this study conducts multivariate regression analyses between the number of subsidiaries and the stock price crash risk.\u0000\u0000\u0000Findings\u0000This study finds an inversed U relationship between the number of subsidiaries and the stock price crash risk, and the above inversed U relationship is steeper in conglomerates with stronger managerial power and less finance distress.\u0000\u0000\u0000Originality/value\u0000This research has an incremental contribution to the agency problem and governance effect of the parent–subsidiary system in conglomerates. To the best of the authors’ knowledge, this is the first study to show a significant quadratic relationship between the future crash risk and the number of subsidiaries. This paper provides new evidence that the number of subsidiaries has an incremental ability to predict future firm-specific crash risk above other predictors identified by previous research.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46314308","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}
The conference saw a line-up of experts which among others included The Honourable James Shaw, Minister of Climate Change in New Zealand, who promoted the incorporating of climate change information as a part of the New Zealand financial reporting framework;and Distinguished Professor Paul Spoonley who shared his knowledge, experiences and thoughts on diversity and ethnicity. Impact of technology on the required skills of tomorrow’s accountants The adoption and use of new technology such as intelligent automation, big data, blockchain and cloud-based software have brought about significant changes to the accounting profession (Qasim and Kharbat, 2020). The authors find a climate of positive attitude towards new technology and accompanying actions in the Big-Four firms and that financial auditors are providing deep business insights through data visualisation. The manuscripts on the technological influences on accounting suggest that digital transformation has radically changed the nature of accounting practices and for accountants to be ready to leverage the potential of digital tools, they need to focus on developing their core competencies through lifelong education and skill development training.
{"title":"Guest editorial: Accounting in transition: influence of technology, sustainability and diversity","authors":"S. Chong, A. Rahman, A. Narayan","doi":"10.1108/par-07-2022-210","DOIUrl":"https://doi.org/10.1108/par-07-2022-210","url":null,"abstract":"The conference saw a line-up of experts which among others included The Honourable James Shaw, Minister of Climate Change in New Zealand, who promoted the incorporating of climate change information as a part of the New Zealand financial reporting framework;and Distinguished Professor Paul Spoonley who shared his knowledge, experiences and thoughts on diversity and ethnicity. Impact of technology on the required skills of tomorrow’s accountants The adoption and use of new technology such as intelligent automation, big data, blockchain and cloud-based software have brought about significant changes to the accounting profession (Qasim and Kharbat, 2020). The authors find a climate of positive attitude towards new technology and accompanying actions in the Big-Four firms and that financial auditors are providing deep business insights through data visualisation. The manuscripts on the technological influences on accounting suggest that digital transformation has radically changed the nature of accounting practices and for accountants to be ready to leverage the potential of digital tools, they need to focus on developing their core competencies through lifelong education and skill development training.","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44564332","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 : 2022-07-14DOI: 10.1108/par-09-2020-0177
V. Botes, H. Davey, Daniel Esposo, B. R. Smit
Purpose Before the COVID-19 pandemic, the last time a crisis affected businesses worldwide by putting economies into hibernation was in 1918 – the Great Influenza Pandemic. Environmental, social and governance frameworks require businesses to respond to such crises as it significantly changes the business environment. With approximately 2.84 million accountants existing across 130 countries, this study aims to determine whether the accounting profession responded to this crisis. As these responses can provide insights into the type of activities accountants performed during the lockdown, the authors analysed them for emerging themes and identified changes in the way that accountants performed tasks. Design/methodology/approach Using search engines, the authors examined publicly available secondary sources such as websites of professional bodies, the Big Four and mid-tier accounting firms and government organisations using the keyword “COVID-19” to identify responses on issues faced by accountants during the 2020 lockdown period in New Zealand. The authors used interpretive text analysis to examine the responses for emerging themes. Findings The accountants’ responses to the COVID-19 pandemic emphasised information technology and soft skills but most importantly the interaction, integration and immersion of technical skills with information technology and soft skills. The findings also highlight changes in the way accountants performed their tasks. Originality/value The study insights enable accounting academics to better understand the interconnection between hard and soft skills for incorporating it in syllabi, thereby preparing students for future roles. In addition, the study findings will assist both practitioners and researchers to explore the emerging changes in the way accountants perform their tasks.
{"title":"How accountants responded to the financial fallout owing to the COVID-19 pandemic","authors":"V. Botes, H. Davey, Daniel Esposo, B. R. Smit","doi":"10.1108/par-09-2020-0177","DOIUrl":"https://doi.org/10.1108/par-09-2020-0177","url":null,"abstract":"\u0000Purpose\u0000Before the COVID-19 pandemic, the last time a crisis affected businesses worldwide by putting economies into hibernation was in 1918 – the Great Influenza Pandemic. Environmental, social and governance frameworks require businesses to respond to such crises as it significantly changes the business environment. With approximately 2.84 million accountants existing across 130 countries, this study aims to determine whether the accounting profession responded to this crisis. As these responses can provide insights into the type of activities accountants performed during the lockdown, the authors analysed them for emerging themes and identified changes in the way that accountants performed tasks.\u0000\u0000\u0000Design/methodology/approach\u0000Using search engines, the authors examined publicly available secondary sources such as websites of professional bodies, the Big Four and mid-tier accounting firms and government organisations using the keyword “COVID-19” to identify responses on issues faced by accountants during the 2020 lockdown period in New Zealand. The authors used interpretive text analysis to examine the responses for emerging themes.\u0000\u0000\u0000Findings\u0000The accountants’ responses to the COVID-19 pandemic emphasised information technology and soft skills but most importantly the interaction, integration and immersion of technical skills with information technology and soft skills. The findings also highlight changes in the way accountants performed their tasks.\u0000\u0000\u0000Originality/value\u0000The study insights enable accounting academics to better understand the interconnection between hard and soft skills for incorporating it in syllabi, thereby preparing students for future roles. In addition, the study findings will assist both practitioners and researchers to explore the emerging changes in the way accountants perform their tasks.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46043198","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 : 2022-06-06DOI: 10.1108/par-08-2020-0125
Redhwan Aldhamari, Ku Nor Izah Ku Ismail, Haithm Mohammed Al-sabri, M. Saleh
Purpose This paper aims to examine the stock market reactions of firms and industries in Malaysia to the government’s COVID-19 movement control order (MCO) announcement. As China is Malaysia’s leading trading partner, the authors also observe if the Chinese Government’s confirmation of human-to-human coronavirus transmission affects firms’ stock market reactions. In addition, this study examines whether the Malaysian Government’s ease of restrictions on economic activities affects firms’ stock market reactions. Finally, this study analyses the effect of COVID-19 number of confirmed cases on firms’ abnormal returns. Design/methodology/approach This study uses an event study methodology to determine the abnormal returns between day −30 to day 30 of the announcements. In addition, this study uses the regression estimation to determine whether the COVID-19 number of confirmed cases explain the abnormal returns. Findings This study finds that investors react negatively to the announcement of the MCO and confirmation of the human-to-human transmission of coronavirus over the event windows. However, the cumulative average abnormal returns (CAARs) started to recover when stimulus packages were introduced, and the lockdown measures were eased, allowing businesses to reopen. This study also finds that only firms in the health-care sector reported significant positive CAARs. Stock returns of the utilities and telecommunication firms showed no changes, while eight other sectors fell remarkably. The results also show that the COVID-19 number of confirmed cases adversely affects firms’ abnormal returns. Practical implications This study suggests that stock prices incorporate bad and good news surrounding the announcements of major international and local events related to the COVID-19 pandemic. Thus, investors should consider such factors in making investment decisions. Originality/value To the best of the authors’ knowledge, this paper is one of the early research works investigating the stock market reactions to the COVID-19 major announcements (MCO, human-to-human transmission and ease of restrictions on economic activities) using an event study methodology in an emerging market, namely, Malaysia. This study is timely in light of the recently increasing calls for researchers to analyse the potential economic impacts of COVID-19 on global capital markets, especially in emerging markets whose evidence is scarce.
{"title":"Stock market reactions of Malaysian firms and industries towards events surrounding COVID-19 announcements and number of confirmed cases","authors":"Redhwan Aldhamari, Ku Nor Izah Ku Ismail, Haithm Mohammed Al-sabri, M. Saleh","doi":"10.1108/par-08-2020-0125","DOIUrl":"https://doi.org/10.1108/par-08-2020-0125","url":null,"abstract":"\u0000Purpose\u0000This paper aims to examine the stock market reactions of firms and industries in Malaysia to the government’s COVID-19 movement control order (MCO) announcement. As China is Malaysia’s leading trading partner, the authors also observe if the Chinese Government’s confirmation of human-to-human coronavirus transmission affects firms’ stock market reactions. In addition, this study examines whether the Malaysian Government’s ease of restrictions on economic activities affects firms’ stock market reactions. Finally, this study analyses the effect of COVID-19 number of confirmed cases on firms’ abnormal returns.\u0000\u0000\u0000Design/methodology/approach\u0000This study uses an event study methodology to determine the abnormal returns between day −30 to day 30 of the announcements. In addition, this study uses the regression estimation to determine whether the COVID-19 number of confirmed cases explain the abnormal returns.\u0000\u0000\u0000Findings\u0000This study finds that investors react negatively to the announcement of the MCO and confirmation of the human-to-human transmission of coronavirus over the event windows. However, the cumulative average abnormal returns (CAARs) started to recover when stimulus packages were introduced, and the lockdown measures were eased, allowing businesses to reopen. This study also finds that only firms in the health-care sector reported significant positive CAARs. Stock returns of the utilities and telecommunication firms showed no changes, while eight other sectors fell remarkably. The results also show that the COVID-19 number of confirmed cases adversely affects firms’ abnormal returns.\u0000\u0000\u0000Practical implications\u0000This study suggests that stock prices incorporate bad and good news surrounding the announcements of major international and local events related to the COVID-19 pandemic. Thus, investors should consider such factors in making investment decisions.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this paper is one of the early research works investigating the stock market reactions to the COVID-19 major announcements (MCO, human-to-human transmission and ease of restrictions on economic activities) using an event study methodology in an emerging market, namely, Malaysia. This study is timely in light of the recently increasing calls for researchers to analyse the potential economic impacts of COVID-19 on global capital markets, especially in emerging markets whose evidence is scarce.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48187714","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 : 2022-06-06DOI: 10.1108/par-08-2020-0111
N. Arora, Balwinder Singh
Purpose This study aims to explore the moderating impact of governance structure, that is, board characteristics including board size, board independence, board committees and ownership structure like ownership concentration, on the underpricing of small- and medium-sized enterprise (SME) initial public offerings (IPOs) in the context of an emerging economy such as India. Design/methodology/approach Using a sample size of 403 SME IPOs listed on Bombay Stock Exchange SME platform and National Stock Exchange EMERGE, this study uses moderated hierarchical regression analysis to investigate these relationships. Findings The findings highlighted that board independence, board committees and ownership concentration negatively influence underpricing measured using market-adjusted excess returns. While analysing the moderating relationship, this study finds that ownership concentration positively moderates the relationship between board independence and underpricing, as well as the relationship between board committees and IPO underpricing. Research limitations/implications This study is limited to a single country only. Although perfectly suitable for our research inquiry, it is imperative to check the validity of the findings by extending it to other emerging countries with similar socio-economic characteristics. Furthermore, this study tested the hypotheses concerning three board characteristics only. Hence, it could be extended to explore additional governance characteristics for a more comprehensive understanding. Practical implications This study provides a foundation for managers to adopt a fine-grained approach to effectively design the board structure ahead of an IPO event. Additionally, the findings may assist policymakers in formulating various policies and guide regulators in regulating the limit on ownership held by various shareholders to prevent their opportunism. The results of this study may further advise potential investors interested in SME IPO firms to critically consider the ownership concentration as a driving factor when scrutinizing their investment portfolios. Originality/value This study is unique as it advances the debate on the importance of a governance characteristic, that is, ownership concentration, as a moderating variable in the underexplored context of IPO underpricing of small- and medium-sized firms in India.
{"title":"Board characteristics, ownership concentration and SME IPO underpricing","authors":"N. Arora, Balwinder Singh","doi":"10.1108/par-08-2020-0111","DOIUrl":"https://doi.org/10.1108/par-08-2020-0111","url":null,"abstract":"Purpose This study aims to explore the moderating impact of governance structure, that is, board characteristics including board size, board independence, board committees and ownership structure like ownership concentration, on the underpricing of small- and medium-sized enterprise (SME) initial public offerings (IPOs) in the context of an emerging economy such as India. Design/methodology/approach Using a sample size of 403 SME IPOs listed on Bombay Stock Exchange SME platform and National Stock Exchange EMERGE, this study uses moderated hierarchical regression analysis to investigate these relationships. Findings The findings highlighted that board independence, board committees and ownership concentration negatively influence underpricing measured using market-adjusted excess returns. While analysing the moderating relationship, this study finds that ownership concentration positively moderates the relationship between board independence and underpricing, as well as the relationship between board committees and IPO underpricing. Research limitations/implications This study is limited to a single country only. Although perfectly suitable for our research inquiry, it is imperative to check the validity of the findings by extending it to other emerging countries with similar socio-economic characteristics. Furthermore, this study tested the hypotheses concerning three board characteristics only. Hence, it could be extended to explore additional governance characteristics for a more comprehensive understanding. Practical implications This study provides a foundation for managers to adopt a fine-grained approach to effectively design the board structure ahead of an IPO event. Additionally, the findings may assist policymakers in formulating various policies and guide regulators in regulating the limit on ownership held by various shareholders to prevent their opportunism. The results of this study may further advise potential investors interested in SME IPO firms to critically consider the ownership concentration as a driving factor when scrutinizing their investment portfolios. Originality/value This study is unique as it advances the debate on the importance of a governance characteristic, that is, ownership concentration, as a moderating variable in the underexplored context of IPO underpricing of small- and medium-sized firms in India.","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43380039","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 : 2022-06-01DOI: 10.1108/par-06-2021-0104
Linghuan Ma, A. Rahman
Purpose This paper aims to examine the influence of culture on the adoption and use of social media platforms for corporate disclosures by firms in a cross-country setting. Design/methodology/approach It is contended that social media corporate disclosure (SMCD) is culturally influenced because the primary purpose of social media is to connect people in social settings, and social settings are distinguished by their cultures. Using a sample of 1,420 firms from 36 countries and Hofstede’s cultural dimensions, this study examines the direct effects of culture on SMCD and its moderating effects on the relationship between SMCD and the agency determinants of corporate disclosure. Findings It is found that cultural dimensions directly affect the adoption and use of SMCD. Additionally, the agency determinants of disclosure, size, leverage and growth are positively associated with the adoption, and use of SMCD, and these associations are moderated by the cultural dimensions. Research limitations/implications The Hofstede cultural dimensions are broad country-level variables based on the culture of the majority in the population. However, larger countries have many cultures. This study does not cover within-country cultural effects on SMCD. It also does not cover firm-level culture and accounting culture because these factors are derived from national culture. This study adds culture as a country-level determinant of why companies adopt and use social media. Practical implications The study provides investors and policymakers with an understanding of the nature of SMCD adoption and use in different cultural settings. It also makes managers aware of which cultural settings are more amenable to SMCD. Social implications Social media, by design, have social implications. Examining the role of culture in the use of social media provides societal reasons for the use of SMCD by companies. Originality/value Since social media are interactive in form rather than simply one-way disclosure devices, this study goes beyond the realm of corporate disclosure into the less researched area of corporate communication via social media.
{"title":"Culture and the decision to adopt and use social media for corporate disclosures","authors":"Linghuan Ma, A. Rahman","doi":"10.1108/par-06-2021-0104","DOIUrl":"https://doi.org/10.1108/par-06-2021-0104","url":null,"abstract":"\u0000Purpose\u0000This paper aims to examine the influence of culture on the adoption and use of social media platforms for corporate disclosures by firms in a cross-country setting.\u0000\u0000\u0000Design/methodology/approach\u0000It is contended that social media corporate disclosure (SMCD) is culturally influenced because the primary purpose of social media is to connect people in social settings, and social settings are distinguished by their cultures. Using a sample of 1,420 firms from 36 countries and Hofstede’s cultural dimensions, this study examines the direct effects of culture on SMCD and its moderating effects on the relationship between SMCD and the agency determinants of corporate disclosure.\u0000\u0000\u0000Findings\u0000It is found that cultural dimensions directly affect the adoption and use of SMCD. Additionally, the agency determinants of disclosure, size, leverage and growth are positively associated with the adoption, and use of SMCD, and these associations are moderated by the cultural dimensions.\u0000\u0000\u0000Research limitations/implications\u0000The Hofstede cultural dimensions are broad country-level variables based on the culture of the majority in the population. However, larger countries have many cultures. This study does not cover within-country cultural effects on SMCD. It also does not cover firm-level culture and accounting culture because these factors are derived from national culture. This study adds culture as a country-level determinant of why companies adopt and use social media.\u0000\u0000\u0000Practical implications\u0000The study provides investors and policymakers with an understanding of the nature of SMCD adoption and use in different cultural settings. It also makes managers aware of which cultural settings are more amenable to SMCD.\u0000\u0000\u0000Social implications\u0000Social media, by design, have social implications. Examining the role of culture in the use of social media provides societal reasons for the use of SMCD by companies.\u0000\u0000\u0000Originality/value\u0000Since social media are interactive in form rather than simply one-way disclosure devices, this study goes beyond the realm of corporate disclosure into the less researched area of corporate communication via social media.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47410343","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 : 2022-06-01DOI: 10.1108/par-09-2020-0164
H. Huang
Purpose The COVID-19 global pandemic has caused significant disruptions to the non-profit sector, highlighting the issues that the narrowly focused, traditional conception of governance fails to address. The purpose of this paper is to propose a contingency-based framework with its theoretical underpinnings in the existing literature, in order to support future empirical research on non-profit governance and accountability practices. Design/methodology/approach From a theoretical perspective, this paper synthesizes relevant existing literature and proposes a contingency-based accountability and governance framework in the non-profit sector. This paper draws on Ostrower and Stone’s (2010) contingency-based framework on boards and Hyndman and McDonnell’s (2009) conception of governance systems. This paper engages with the New Zealand and Australia context while reviewing relevant literature and relevant regulations. Findings The global pandemic has caused severe worldwide disruptions both socially and economically. There have been dramatic changes to the ways in which non-profit organisations (NPOs) operate. There is an urgent need to understand how such changes in the external environment impact on NPOs’ governance and accountability practices. In this context, the contingency-based accountability and governance framework proposed in this paper has important implications for non-profit research, while opening up an avenue for future research in this field. Research limitations/implications This paper does not involve empirical analysis. Practical implications This paper contributes by facilitating better understanding on how external contingencies like the COVID-19 global pandemic affect the external and internal environment of an NPO, how they impact on stakeholders and their interplay with an NPO’s governance and accountability systems. It also suggests that regulators of the non-profit sector, umbrella support organisations, and funders proactively encourage and guide NPOs to embrace a wider scope of governance and strengthen the level of governance in the sector. Originality/value This paper contributes to the literature by proposing a contingency-based accountability and governance framework in the non-profit sector to support future research in this field. It also sheds light on competing theoretical debates relating to the conceptualisation and operationalization of accountability and governance.
{"title":"A contingency-based accountability and governance framework for the non-profit sector in the post-COVID-19 era","authors":"H. Huang","doi":"10.1108/par-09-2020-0164","DOIUrl":"https://doi.org/10.1108/par-09-2020-0164","url":null,"abstract":"\u0000Purpose\u0000The COVID-19 global pandemic has caused significant disruptions to the non-profit sector, highlighting the issues that the narrowly focused, traditional conception of governance fails to address. The purpose of this paper is to propose a contingency-based framework with its theoretical underpinnings in the existing literature, in order to support future empirical research on non-profit governance and accountability practices.\u0000\u0000\u0000Design/methodology/approach\u0000From a theoretical perspective, this paper synthesizes relevant existing literature and proposes a contingency-based accountability and governance framework in the non-profit sector. This paper draws on Ostrower and Stone’s (2010) contingency-based framework on boards and Hyndman and McDonnell’s (2009) conception of governance systems. This paper engages with the New Zealand and Australia context while reviewing relevant literature and relevant regulations.\u0000\u0000\u0000Findings\u0000The global pandemic has caused severe worldwide disruptions both socially and economically. There have been dramatic changes to the ways in which non-profit organisations (NPOs) operate. There is an urgent need to understand how such changes in the external environment impact on NPOs’ governance and accountability practices. In this context, the contingency-based accountability and governance framework proposed in this paper has important implications for non-profit research, while opening up an avenue for future research in this field.\u0000\u0000\u0000Research limitations/implications\u0000This paper does not involve empirical analysis.\u0000\u0000\u0000Practical implications\u0000This paper contributes by facilitating better understanding on how external contingencies like the COVID-19 global pandemic affect the external and internal environment of an NPO, how they impact on stakeholders and their interplay with an NPO’s governance and accountability systems. It also suggests that regulators of the non-profit sector, umbrella support organisations, and funders proactively encourage and guide NPOs to embrace a wider scope of governance and strengthen the level of governance in the sector.\u0000\u0000\u0000Originality/value\u0000This paper contributes to the literature by proposing a contingency-based accountability and governance framework in the non-profit sector to support future research in this field. It also sheds light on competing theoretical debates relating to the conceptualisation and operationalization of accountability and governance.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47285417","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 : 2022-05-27DOI: 10.1108/par-07-2020-0099
Yuen Hoong Voon, Anna Che Azmi, S. Jayasingam
Purpose This study aims to examine the consequences of tax authorities’ use of concession-timing negotiation strategies on tax practitioners and their final proposed offers. Design/methodology/approach This is an experimental study conducted on tax practitioners using a design of 2 × 1, varying the tax authorities’ negotiation strategy (i.e. concession-gradual and concession-end strategies) across two levels. Findings The concessionary negotiation strategies adopted by tax authorities influence tax practitioners’ final proposed offers, their perceptions of fairness (i.e. distributive justice and procedural justice) and their aggressiveness of stance in tax audit negotiations. Originality/value This experimental study contributes to existing research on tax authority-tax practitioner negotiation models used during tax audits by providing the first evidence that concession timing matters. The study extends the negotiation model to include tax aggressiveness as a new variable and examines the indirect roles of fairness and offers in tax audit negotiations.
{"title":"The effects of concession timing, perceived fairness and aggressiveness on tax negotiation offers","authors":"Yuen Hoong Voon, Anna Che Azmi, S. Jayasingam","doi":"10.1108/par-07-2020-0099","DOIUrl":"https://doi.org/10.1108/par-07-2020-0099","url":null,"abstract":"\u0000Purpose\u0000This study aims to examine the consequences of tax authorities’ use of concession-timing negotiation strategies on tax practitioners and their final proposed offers.\u0000\u0000\u0000Design/methodology/approach\u0000This is an experimental study conducted on tax practitioners using a design of 2 × 1, varying the tax authorities’ negotiation strategy (i.e. concession-gradual and concession-end strategies) across two levels.\u0000\u0000\u0000Findings\u0000The concessionary negotiation strategies adopted by tax authorities influence tax practitioners’ final proposed offers, their perceptions of fairness (i.e. distributive justice and procedural justice) and their aggressiveness of stance in tax audit negotiations.\u0000\u0000\u0000Originality/value\u0000This experimental study contributes to existing research on tax authority-tax practitioner negotiation models used during tax audits by providing the first evidence that concession timing matters. The study extends the negotiation model to include tax aggressiveness as a new variable and examines the indirect roles of fairness and offers in tax audit negotiations.\u0000","PeriodicalId":46088,"journal":{"name":"Pacific Accounting Review","volume":null,"pages":null},"PeriodicalIF":2.1,"publicationDate":"2022-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42743679","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 : 2022-05-26DOI: 10.1108/par-06-2021-0107
John Kommunuri
Purpose
The study aims to explore the changing landscape of accounting and the role of emerging technologies in the accounting environment. The author presents viewpoints on the influence of artificial intelligence (AI), machine learning (ML) and other subsets in accounting, emphasising the increasing need for and significance of these applications. The viewpoints could provide researchers and practitioners with a meaningful overview of knowledge and research agenda.
Findings
The role of emerging technologies in accounting and various opportunities and challenges in implementation are discussed. In addition, possible future research directions are identified.
Research limitations/implications
The paper does not contain empirical findings.
Originality/value
This paper expresses the author’s viewpoints regarding the impact of AI and ML on the changing accounting environment.
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Pub Date : 2022-05-20DOI: 10.1108/par-02-2022-0034
C. de Villiers, Matteo La Torre, M. Molinari
Purpose This paper aims to reflect on the future of sustainability reporting standards by examining the current practical initiatives and the Global Reporting Initiative’s (GRI) position in the arena of non-financial and sustainability reporting and identifies avenues for future research. Design/methodology/approach A critical reflection and analysis of research on the GRI’s achievements and the influence of the International Financial Reporting Standards (IFRS) Foundation’s initiative to develop global sustainability reporting standards. Findings The GRI has a dominant position in sustainability reporting standard-setting related to the provision of information about the influence of reporting organisations on society and the natural environment. The IFRS Foundation’s initiative to enter the sustainability reporting standard-setting arena, although from the perspective of providing information to investors regarding the influence of society and the environment on the reporting organisation, is an attempt to solidify its own position as the reporting standard setter of choice, not only for financial reporting but for all reporting standards. However, despite its aim to differentiate its role from the GRI by leveraging the financial-oriented ideological side of double materiality, we argue that the IFRS is unlikely to harm the GRI’s global position in producing multi-stakeholder standards for sustainability reporting and accountability. This differentiated position is facilitated by the different sources of legitimacy the GRI and IFRS rely on. Research limitations/implications The paper identifies future research opportunities. Originality/value Due to the recent initiatives for creating new sustainability reporting standard-setters, to the best of the authors’ knowledge, this paper offers one of the first critical reflections on the past and the likely future of the GRI and its sustainability reporting standards. The paper also identifies several new avenues for future research.
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