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Online Tax System and Tax Compliance by Small and Medium Enterprises: Case of Kitui County in Kenya 网上税收系统与中小企业税收合规:以肯尼亚基图伊县为例
IF 2 Q4 Economics, Econometrics and Finance Pub Date : 2022-10-16 DOI: 10.47941/jacc.1070
Alex Kyalo Mwangangi, F. Memba
Purpose: Technology has significantly impacted the efficiency of conducting business, among them, the digitalization of tax functions, which has led to the creation of operational efficiencies in terms of filing tax returns. The purpose of this research is to evaluate the effect of online tax system on tax compliance in Kitui County's SMEs. Specifically, the study focused on effect of online tax filling and online taxpayer registration on tax compliance in Kitui County. Methodology: This research was hinged on theory of Technological Acceptance Model, Diffusion of Innovation Theory and Theory of planned behavior. A descriptive research design was used in this study. The owners of the 442 small and medium businesses in Kitui County was the study's unit of analysis. A sample population of 206 is determined using the stratified proportionate random sampling technique. Self-administered questionnaires were used to collect primary data. The Statistical Package for Social Sciences was used to examine the data (SPSS Version 25.0). For all quantitative variables, descriptive statistics such as frequencies, percentages, average score, and standard deviation was computed after data cleaning, which includes checking for entry mistakes. The information was presented in tables and graphs. The relationships between the independent and dependent variables were established using multiple regression analysis. Findings: The study concluded that a unit increase in online tax registration leads to 0.807 increase in tax compliance by small and medium enterprises in Kitui County. The study revealed that a unit change in online tax filing leads to 0.731 change in tax compliance by small and medium enterprises in Kitui County. Unique Contribution to Theory, Practice and Policy: The study concludes that the KRA officials in Kitui county should conduct awareness programs among SMEs regarding the importance of online tax registration. The study informs policy as it seeks to help Kenya Revenue Authority in using effective measures to mobilize and motivate small tax payers to register online for turnover tax, value added tax among other taxes in order to increase tax compliance.
目的:技术极大地影响了开展业务的效率,其中,税务职能的数字化,导致在申报纳税方面创造了运营效率。本研究的目的是评估网上税收系统对基图伊县中小企业税收合规的影响。具体而言,研究重点是基图伊县网上纳税申报和网上纳税人登记对税收合规的影响。方法:本研究以技术接受模型理论、创新扩散理论和计划行为理论为基础。本研究采用描述性研究设计。基图伊县442家中小企业的所有者是该研究的分析单位。使用分层比例随机抽样技术确定206个样本总体。采用自填问卷收集原始数据。使用社会科学统计软件包(SPSS Version 25.0)对数据进行检验。对于所有定量变量,在数据清理后计算描述性统计数据,如频率、百分比、平均分和标准偏差,其中包括检查输入错误。这些信息以表格和图表的形式呈现。采用多元回归分析建立了自变量与因变量之间的关系。研究发现:基图伊县中小企业网上税务登记每增加一个单位,纳税合规性提高0.807个单位。研究发现,网络纳税申报单位的变化导致基图伊县中小企业纳税合规变化0.731。对理论、实践和政策的独特贡献:研究得出结论,基图伊县的税务局官员应该在中小企业中开展关于网上税务登记重要性的意识项目。该研究旨在帮助肯尼亚税务局采取有效措施,动员和激励小额纳税人在网上登记流转税、增值税和其他税种,以提高税收合规性,从而为政策提供信息。
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引用次数: 0
Author Index Volume 57 (2022) 作者索引卷57 (2022)
IF 2 Q4 Economics, Econometrics and Finance Pub Date : 2022-09-28 DOI: 10.1142/s1094406022990013
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引用次数: 0
Do Philanthropic Auditors Provide Higher-Quality Audit Services? Evidence From China 慈善审计师提供更高质量的审计服务吗?来自中国的证据
IF 2 Q4 Economics, Econometrics and Finance Pub Date : 2022-08-30 DOI: 10.1142/s1094406022500147
Danping Li, Zhifeng Yang, Keyuan Zhang, Min Zhang
Synopsis The research problem This study investigates whether auditors who participate in philanthropic activities (hereafter “philanthropic auditors”) have stronger incentives to deliver high-quality audits than the auditors who do not participate. Motivation Prior studies call for research that examines the difference in audit quality across individual auditors. In recent years, regulators in developed markets, such as the United States and the European Union, have also promulgated new regulations requiring audit firms or public companies to disclose the names of engagement partners. Another growing body of literature examines the effect of economic agents’ personal traits on their decisions and/or firm policies and practices. By examining the impact of individual auditors’ unobservable personal traits on audit quality, measured through their philanthropic actions, we link and contribute to both streams of the above literature. The test hypotheses We test a null hypothesis in this study: individual auditors’ philanthropic activity is not related to their audit quality. Target population Stakeholders of high-quality auditing including accounting regulators, audit firm partners, and company managers. Adopted methodology Ordinary least squares (OLS) regressions and archival data. Analyses In a sample of more than 19,000 Chinese firm-years from 2008 to 2017, we identified 9.40% of the observations were signed by at least one auditor who contributes either money or time to a charitable activity. We used two measures of audit quality: the propensity to issue modified audit opinions (MAOs) and unsigned abnormal discretionary accruals. Findings First, we find that philanthropic auditors are significantly more likely to issue MAOs than are their non-philanthropic counterparts. Second, they are more likely to issue MAOs to distressed companies but not to financially healthy companies. The higher propensity of philanthropic auditors to issue MAOs indicates higher audit quality rather than a higher level of audit conservatism. Third, financial statements audited by philanthropic auditors contain significantly lower discretionary accruals (DACC). Fourth, to mitigate the concern that endogeneity drives our findings, we implement the propensity score matching (PSM) approach and the client fixed effects model. Our finding that philanthropic auditors provide higher-quality audit services than other auditors holds. Fifth, the main results are robust to the inclusion of other individual auditor characteristics, such as gender, educational background, and political affiliation, and to several proxies for individual auditors’ wealth.
研究问题简介本研究调查了参与慈善活动的审计师(以下简称“慈善审计师”)是否比不参与的审计师更有动力进行高质量的审计。动机先前的研究要求进行研究,以检查各个审计师的审计质量差异。近年来,美国和欧盟等发达市场的监管机构也颁布了新的法规,要求审计公司或上市公司披露审计业务合伙人的姓名。另一个不断增长的文献研究了经济主体的个人特征对其决策和/或公司政策和实践的影响。通过研究个体审计师不可观察的个人特征对审计质量的影响,通过他们的慈善行为来衡量,我们将上述文献的两个流联系起来,并为之做出贡献。检验假设我们在本研究中检验了一个零假设:个体审计师的慈善活动与其审计质量无关。目标人群高质量审计的利益相关者,包括会计监管机构、审计公司合作伙伴和公司经理。采用了最小二乘回归法和档案数据。分析在2008年至2017年的19000多家中国公司的样本中,我们发现9.40%的审计意见是由至少一名为慈善活动捐款或贡献时间的审计师签署的。我们使用了两种审计质量衡量标准:发表修改审计意见的倾向和未签署的异常可自由支配应计项目。研究结果首先,我们发现慈善审计师比非慈善审计师更有可能发布MAO。其次,他们更有可能向陷入困境的公司发行MAO,但不向财务健康的公司发行。慈善审计师发行MAO的倾向越高,表明审计质量越高,而不是审计稳健性水平越高。第三,慈善审计师审计的财务报表包含的可自由支配应计项目(DACC)明显较低。第四,为了减轻内生性驱动我们研究结果的担忧,我们实施了倾向得分匹配(PSM)方法和客户固定效应模型。我们发现慈善审计师提供的审计服务质量高于其他审计师。第五,主要结果有力地包含了其他个人审计师特征,如性别、教育背景和政治派别,以及个人审计师财富的几个指标。
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引用次数: 0
Public-Sector Accounting Reforms and Governmental Efficiency: A Two-Stage Approach 公共部门会计改革与政府效率:分两个阶段研究
IF 2 Q4 Economics, Econometrics and Finance Pub Date : 2022-08-19 DOI: 10.1142/s1094406022500172
Beatriz Cuadrado-Ballesteros, Marco Bisogno, Giovanni Vaia
Synopsis The research problem We investigated the association between public-sector accounting reforms and efficiency at a central-government level, assessing efficiency through a global perspective. Motivation The effects of financial management reforms on efficiency have rarely been investigated. We contribute to the academic debate concerning both public-sector accounting reforms (implementation of international accounting standards and accrual-accounting systems) and governmental efficiency, merging two streams of literature that have not been investigated thoroughly. The test hypotheses [Formula: see text]: Countries that have implemented IPSAS are more efficient. [Formula: see text]: Countries that have implemented accrual-accounting systems are more efficient. Target population We used a sample of 22 European countries in the period 2010–2018. Adopted methodology We adopted a two-step approach: first, we created several efficiency indicators using different techniques; second, we implemented a model to test our hypotheses. Analyses Data Envelopment Analysis (DEA) technique, DEA with application of the bootstrap technique, and Order-m model Findings Accrual accounting was positively associated with efficiency while findings did not totally support an association with IPSAS.
我们在中央政府层面调查了公共部门会计改革与效率之间的关系,通过全球视角评估效率。很少有人研究财务管理改革对效率的影响。我们为关于公共部门会计改革(国际会计准则和权责发生制的实施)和政府效率的学术辩论做出了贡献,合并了两种尚未彻底调查的文献流。检验假设[公式:见文本]:实施公共部门会计准则的国家效率更高。[公式:见原文]:实行权责发生制的国家效率更高。我们在2010-2018年期间使用了22个欧洲国家的样本。采用的方法我们采用了两步方法:首先,我们使用不同的技术创建了几个效率指标;其次,我们实施了一个模型来检验我们的假设。数据包络分析(DEA)技术、应用自举技术的DEA和Order-m模型发现权责发生制会计与效率呈正相关,但研究结果并不完全支持与公共部门会计准则的关联。
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引用次数: 1
Competition Effects on Audit Quality and Pricing in a Non-Big 4 Market 非四大审计市场竞争对审计质量和审计定价的影响
IF 2 Q4 Economics, Econometrics and Finance Pub Date : 2022-08-17 DOI: 10.1142/s1094406022500159
Masoud Azizkhani, Heibatollah Sami, K. Amirkhani, G. Monroe
Synopsis The research problem Adding to the literature on audit market competition, this study examined how increasing competition affects audit pricing and audit quality in an emerging market where regulatory policies have resulted in increased competition (less market concentration) in the audit market, and Big 4 auditors are banned. The test hypotheses H[Formula: see text]: Audit market concentration (competition) is positively (negatively) associated with audit fees. H[Formula: see text]: Audit market competition is associated with audit quality. Target population Various stakeholders including regulators, auditors, firm managers, and users of financial reports. Adopted methodology Multivariate analysis using ordinary least squares and logit regressions. Analyses Using the Herfindahl index to measure competition in the audit market at the national level, we used a sample of listed firms from the emerging Iranian audit market, which is characterized by increase in audit market competition as a result of a regulatory change and a lack of market concentration because the audit market does not include Big 4 audit firms or any dominant local audit firms to examine the impact of competition on audit pricing and audit quality. Findings We found that higher (lower) levels of audit market competition measured using the Herfindahl index are associated with lower (higher) audit fees and higher (lower) levels of abnormal accruals. These results suggest that increased competition in audit markets in developing economies generates audit fee pressure, which negatively affects audit quality.
除了有关审计市场竞争的文献外,本研究还考察了在监管政策导致审计市场竞争加剧(市场集中度降低)、四大审计机构被禁止的新兴市场中,竞争加剧如何影响审计定价和审计质量。检验假设H[公式:见文]:审计市场集中度(竞争)与审计费用呈正(负)相关。H[公式:见正文]:审计市场竞争与审计质量相关。目标人群不同的利益相关者,包括监管者、审计师、公司经理和财务报告的使用者。采用多变量分析方法,采用普通最小二乘法和logit回归。利用赫芬达尔指数来衡量国家层面审计市场的竞争,我们使用了来自新兴伊朗审计市场的上市公司样本,该市场的特点是由于监管变化导致审计市场竞争加剧,并且由于审计市场不包括四大审计公司或任何占主导地位的当地审计公司,因此缺乏市场集中度,以检查竞争对审计定价和审计质量的影响。我们发现,使用赫芬达尔指数衡量的审计市场竞争水平越高(越低),审计费用越低(越高),异常应计费用越高(越低)。这些结果表明,发展中经济体审计市场竞争加剧产生了审计费用压力,这对审计质量产生了负面影响。
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引用次数: 3
Disclosure of Related Party Transactions Under IFRS: Does Cross-Listing Reduce the Legal Origin Disclosure Gap? 国际财务报告准则下的关联方交易披露:交叉上市是否减少了法律来源披露差距?
IF 2 Q4 Economics, Econometrics and Finance Pub Date : 2022-08-17 DOI: 10.1142/s1094406022500184
Edilene Santana Santos, R. Schiozer, V. Ponte
Synopsis The research problem We investigate whether cross-listing in the United States is associated with a reduction in disclosure deficiencies about related party transactions (RPTs) related to the legal traditions of firms’ countries of origin. Motivation The extant literature shows that there is a disclosure disparity associated to the firms’ legal origin (civil or common law) and the countries’ institutions (regulation, enforcement, and market scrutiny). The literature has not examined whether cross-listing in the United States mitigates (or eliminates) the disclosure gap for firms from civil law countries and countries with worse institutions. We focus on RPTs because the US Securities and Exchange Commission has put particular emphasis on regulation of this type of disclosure. Hypotheses H1: Among domestically listed firms, those from countries with common law tradition present superior level of RPT disclosure than firms from countries with a civil law tradition. H2: Cross-listed firms have a superior level of RPT disclosure compared to domestically listed firms from the same country. H3: Among cross-listed firms, those from countries with common law tradition present a superior level of RPT disclosure than firms from countries with a civil law tradition. Target population Firms from countries that have adopted international financial reporting standards (IFRS). We sample firms from the G20 countries that have adopted IFRS because of their representativeness in the world economy. Adopted methodology Ordinary least squares (OLS) regressions with firm and industry-year fixed effects. Two-stage least squares (instrumental variables) regressions to tackle endogeneity issues. Analyses We manually collected data from the financial reports of 531 firms from the G20 countries that have adopted IFRS to compute indices of compliance with disclosures required by IAS 24. We performed double-difference regressions, comparing firms across their legal origin (common law versus civil law), and cross-listing status (cross-listed in the United States versus domestically listed only). In addition, we studied the institutional channels that drive the disclosure gap between common and civil law firms. Findings For domestically listed firms, we found that firms from the common law tradition have RPT disclosure levels superior to those of firms from the civil law tradition. We found that the level of RPT disclosure is associated with countries’ regulatory quality, rule of law, and control of corruption. However, we did not find any differences in the level of RPT disclosure among firms cross-listed in the United States that can be associated with firms’ legal origin or with other home-country institutional features. Our results suggest that the regulatory enforcement and scrutiny of capital markets imposed by the US market compensate for home-country institutional deficiencies and eliminate differences in firms’ RPT disclosures across legal origins.
我们调查了在美国交叉上市是否与公司原籍国法律传统相关的关联方交易(RPTs)披露缺陷的减少有关。现有文献表明,披露差异与公司的法律渊源(民法或普通法)和国家制度(监管、执法和市场审查)有关。文献没有研究美国的交叉上市是否减轻(或消除)了大陆法系国家和制度较差国家的公司的信息披露差距。我们之所以关注rpt,是因为美国证券交易委员会(sec)特别重视对这类披露的监管。假设H1:在国内上市公司中,英美法系国家上市公司的RPT披露水平优于大陆法系国家上市公司。H2:交叉上市公司的RPT披露水平高于同一国家境内上市公司。H3:在交叉上市公司中,英美法系国家的公司RPT披露水平高于大陆法系国家的公司。目标人群来自采用国际财务报告准则(IFRS)的国家的公司。我们选取了20国集团(G20)国家的公司作为样本,这些国家采用了国际财务报告准则,因为它们在世界经济中具有代表性。采用具有企业固定效应和行业固定效应的普通最小二乘(OLS)回归方法。两阶段最小二乘(工具变量)回归来解决内生性问题。我们从采用国际财务报告准则的G20国家的531家公司的财务报告中手动收集数据,以计算符合国际会计准则第24号要求的披露的指数。我们进行了双差回归,比较了不同法律渊源(普通法与大陆法系)和交叉上市状态(在美国交叉上市与仅在国内上市)的公司。此外,我们还研究了导致普通律师事务所与民事律师事务所信息披露差距的制度渠道。对于国内上市公司,我们发现英美法系上市公司的RPT披露水平优于大陆法系上市公司。我们发现,RPT披露的水平与国家的监管质量、法治和腐败控制有关。然而,我们没有发现在美国交叉上市的公司在RPT披露水平上的任何差异,这种差异可能与公司的法律起源或其他母国制度特征有关。我们的研究结果表明,美国市场对资本市场的监管执法和审查弥补了母国的制度缺陷,并消除了不同法律来源的公司RPT披露的差异。
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引用次数: 0
Auditors’ Religious Beliefs and Audit Quality: Some Evidence from Taiwan 审计人员的宗教信仰与审计质量:来自台湾的证据
IF 2 Q4 Economics, Econometrics and Finance Pub Date : 2022-07-21 DOI: 10.1142/s1094406022500135
Rong-Ruey Duh, F. Gul, A. Hsu
Synopsis The research problem Adding to the literature in auditing, this study examines whether there is an association between the religious beliefs of audit partners and audit quality in Taiwan. Motivation Previous studies have found that firms headquartered in areas with strong religious social norms are associated with higher audit quality. However, prior studies measured religiosity in terms of whether the audit practice offices were in more religious metropolitan statistical areas. No work had examined whether the religious beliefs of the individual auditors affect auditor decision making. In addition, prior studies using US data were mainly confined to one group who are, in the main, Christians. We examined this issue in Taiwan where the auditors come from three main religious groups: Christian, Buddhist, and Taoist. This setting provides another cultural environment for understanding the links between religiosity and financial reporting issues. The test hypotheses [Formula: see text]: Audit engagement partners with a religious belief are associated with higher audit quality. [Formula: see text]: The positive association between auditors’ religion and audit quality is more pronounced for auditors with industry specialization than auditors without specialization. Target population Various stakeholders include investors, auditors, financial analysts, and users of financial reports. Adopted methodology Ordinary least squares (OLS) regression and logistics regression. Analyses We conducted the study in Taiwan where audit partners are required to sign audit reports. We obtained data on the religious beliefs of auditors by distributing a questionnaire to individual auditors in the Big 4 in Taiwan. We used four measures of audit quality: (a) discretionary accruals, (b) accrual estimation errors, (c) the probability of a client meeting an earnings benchmark, and (d) the propensity to issue modified audit opinions. We tested whether there is a positive association between auditors’ religious beliefs and audit quality. Findings Our study finds that firms with an audit partner who professes a religion are associated with higher audit quality. However, unlike evidence from the United States, we do not find that auditors in an area with strong religious social norms exhibit better audit quality than auditors in less religious areas when the audit partner’s religious belief is controlled in the analysis. The results suggest that auditor quality is more affected by auditor’s personal characteristics than the social norms. We also find that the positive association between auditors with industry specialization and audit quality is stronger when the auditor has religious beliefs. The results suggest that ethics and competence are complements to each other.
本研究结合审计文献,探讨台湾地区审计合伙人的宗教信仰与审计质量之间是否存在关联。先前的研究发现,总部设在宗教社会规范强烈的地区的公司与更高的审计质量相关。然而,先前的研究是根据审计实践办公室是否在宗教信仰较多的大都市统计地区来衡量宗教虔诚度的。没有研究审查个别审计员的宗教信仰是否影响审计员的决策。此外,先前使用美国数据的研究主要局限于一个主要是基督徒的群体。我们在台湾研究了这个问题,那里的审计员来自三个主要的宗教团体:基督教、佛教和道教。这种背景为理解宗教信仰与财务报告问题之间的联系提供了另一种文化环境。检验假设[公式:见文本]:具有宗教信仰的审计业务合伙人与较高的审计质量相关。[公式:见文本]:具有行业专业化的审计师的宗教信仰与审计质量之间的正相关关系比不具有行业专业化的审计师更为明显。不同的利益相关者包括投资者、审计师、财务分析师和财务报告的使用者。采用普通最小二乘(OLS)回归和logistic回归。我们在台湾进行研究,台湾要求审计合伙人签署审计报告。通过对台湾四大会计师事务所的个别审计师进行问卷调查,我们获得了审计师的宗教信仰数据。我们使用了四种审计质量衡量标准:(a)可自由支配的应计项目,(b)应计项目估计误差,(c)客户达到盈利基准的可能性,以及(d)发布修改审计意见的倾向。我们检验了审计师的宗教信仰与审计质量之间是否存在正相关关系。我们的研究发现,拥有宗教信仰的审计合伙人的公司审计质量更高。然而,与美国的证据不同,在分析中,当审计伙伴的宗教信仰受到控制时,我们没有发现宗教社会规范强烈地区的审计员比宗教信仰较少地区的审计员表现出更好的审计质量。结果表明,审计师个人特征对审计质量的影响大于社会规范。我们还发现,当审计师有宗教信仰时,审计师与行业专业化和审计质量之间的正相关关系更强。结果表明,道德与胜任力是相辅相成的。
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引用次数: 1
Return Measures as a Link Between Financial Statements 回报衡量作为财务报表之间的联系
IF 2 Q4 Economics, Econometrics and Finance Pub Date : 2022-07-21 DOI: 10.1142/s1094406022500111
Andrew M. Collins
Synopsis The research problem I examine whether and how presenting a return measure (e.g., return on assets) on the face of the income statement influences non-professional investors’ judgments of a company as a potential investment. Motivation Accounting research suggests investors focus on bottom-line earnings to the exclusion of other financial information. To evaluate a firm’s economic performance, valuation models suggest investors should assess not only income, but also the resources employed by the firm to generate the income. Value is created when companies earn a sufficient return on resources employed in the business. Therefore, positive and/or growing accounting earnings do not necessarily indicate a firm is performing well. Return measures, such as return on assets, are ways to measure a company’s return on its economic resources. The test hypotheses H[Formula: see text]: Reporting a return measure on the face of the income statement affects nonprofessional investors’ perceptions of investment attractiveness, and it does so by priming investors to evaluate the return on resources that the company earns. H[Formula: see text]: Reporting a return measure on the face of the income statement affects nonprofessional investors’ perceptions of balance sheet relevance and acquisition of balance sheet information. Target population Standard setters, financial statement preparers, and accounting researchers. Adopted methodology In an experiment, participants viewed an abbreviated annual report of a hypothetical company and provided judgments about the firm as a potential investment. I manipulated whether a return measure was reported on the income statement. I also manipulated the level of return; while net income and earnings per share were the same in all conditions, I manipulated balance sheet amounts such that return on assets was relatively high or low. Analyses Analyses included analysis of variance (ANOVA), analysis of covariance (ANCOVA), and conditional process analysis. Dependent measures included participants’ judgments about the company as a potential investment, perceived efficiency and effectiveness of the company’s management, perceived relevance of balance sheet information, and recall of financial statement information. Findings Results supported my first prediction — reporting a return measure on the income statement affected non-professional investors’ perceptions of the company as a potential investment; further, these judgments were driven by perceptions of managerial efficiency and effectiveness in earning a return on the company’s resources. Results did not support my second prediction that reporting a return measure on the face of the income statement influences non-professional investors’ perception of balance sheet relevance or affects acquisition of balance sheet information.
研究问题我研究了在损益表上呈现回报衡量标准(如资产回报率)是否以及如何影响非专业投资者对公司作为潜在投资的判断。动机会计研究表明,投资者专注于盈利,而不考虑其他财务信息。为了评估一家公司的经济表现,估值模型建议投资者不仅应该评估收入,还应该评估公司用于产生收入的资源。当公司从企业中使用的资源中获得足够的回报时,就会创造价值。因此,正的和/或增长的会计收益并不一定表明一家公司表现良好。回报率指标,如资产回报率,是衡量公司经济资源回报率的方法。检验假设H[公式:见正文]:在损益表上报告回报衡量标准会影响非专业投资者对投资吸引力的看法,这是通过促使投资者评估公司获得的资源回报来实现的。H[公式:见正文]:在损益表上报告回报衡量标准会影响非专业投资者对资产负债表相关性和资产负债表信息获取的看法。目标人群标准制定者、财务报表编制者和会计研究人员。采用的方法在一项实验中,参与者查看了一家假设公司的简短年度报告,并对该公司作为潜在投资做出了判断。我操纵了损益表上是否报告了回报率。我还操纵了回报水平;虽然在所有情况下,净收入和每股收益都是相同的,但我操纵了资产负债表金额,使资产回报率相对较高或较低。分析分析包括方差分析(ANOVA)、协方差分析(ANCOVA)和条件过程分析。相关指标包括参与者对公司作为潜在投资的判断、对公司管理层效率和有效性的感知、对资产负债表信息相关性的感知以及对财务报表信息的回忆。调查结果支持了我的第一个预测——在损益表上报告回报率会影响非专业投资者对公司潜在投资的看法;此外,这些判断是由对管理效率和从公司资源中获得回报的有效性的看法所驱动的。结果不支持我的第二个预测,即在损益表上报告回报率会影响非专业投资者对资产负债表相关性的感知或影响资产负债表信息的获取。
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引用次数: 0
THE EFFECTIVENESS OF INTERNAL AUDITING IN THE PUBLIC SECTOR IN ZAMBIA 赞比亚公共部门内部审计的有效性
IF 2 Q4 Economics, Econometrics and Finance Pub Date : 2022-07-12 DOI: 10.47941/jacc.924
Olivia Mwanza, Benjamin Kaira
Purpose: This paper aims at examining factors that have an impact on internal audit effectiveness in the public sector. The objective of this study was to device a model that can be used in the public sector to enhance a sound internal auditing system that will boost financial accountability and quality audit work. The study focused on three independent variables such as management support for internal audit activity, organizational independence on the internal audit work, and the adequate of competent internal audit staff. Methodology: In order to achieve this, a quantitative survey research design was chosen as the research paradigm underpinning the study using structured questionnaires as data collection tool to a sample of 172 respondents comprising of internal auditors and users of internal audit services who were systematically randomly sampled. Results: The study findings revealed that both management support and organizational independence were low and that internal audit office of the sampled ministries and parastatals had low technical staff proficiency which limited its capacity to provide effective service. In line with the findings, the study recommended that: (i) the management should appreciate the role of IA by providing the necessary resources and trainings. (ii) Government should ensure that the independence of IA is guaranteed for them to work without fear or interference. (iii) Government should recruit and retain Internal Audit candidates based on their qualifications, experience, training attained and certification by the IIA. The research is limited with the issue of generalizability on other settings; therefore, a similar study can be conducted in the private sector using a mixed method approach.
目的:本文旨在研究影响公共部门内部审计有效性的因素。本研究的目的是设计一种可用于公共部门的模式,以加强健全的内部审计制度,从而促进财务问责制和审计工作的质量。研究的重点是三个独立变量,即管理层对内部审计活动的支持,组织对内部审计工作的独立性,以及合格的内部审计人员的充足性。方法:为了实现这一目标,选择了定量调查研究设计作为研究范式,使用结构化问卷作为数据收集工具,对172名受访者进行了系统随机抽样,其中包括内部审计师和内部审计服务的用户。结果:调查结果表明,管理支持度和组织独立性较低,抽样部属和半国有机构内部审计办公室技术人员熟练程度较低,限制了其提供有效服务的能力。根据研究结果,研究建议:(i)管理层应透过提供所需的资源和培训,认识保险业监督的角色。(ii)政府应确保保监处的独立性得到保障,使他们在不受恐惧或干涉的情况下工作。(iii)政府应根据内部审计机构的资格、经验、所获培训和核证,征聘和保留内部审计人员。该研究受限于在其他情况下的普遍性问题;因此,可以在私营部门使用混合方法进行类似的研究。
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引用次数: 1
Investor Protection and Post-Disclosure Disagreement: International Evidence 投资者保护与信息披露后的分歧:国际证据
IF 2 Q4 Economics, Econometrics and Finance Pub Date : 2022-07-06 DOI: 10.1142/s1094406022500123
Tao Chen
Synopsis The research problem Adding to the literature on investor protection, this study investigates whether nationwide institutional features may explain cross-country variation in post-disclosure disagreement. Motivation Previous research has revealed that the release of financial statements aggravates investor disagreement rather than attenuating it. However, most studies only obtain empirical evidence in the context of the United States; no work has examined this research question in an international setting. Another motivation for this paper is the attempt to understand the contradiction in the literature, which emphasizes micro-level determinants. By contrast, minimal attention has been paid to the macro-level institutional factors of a country’s information environment, which presumably prompts investors to shape heterogeneous beliefs. The test hypotheses H1: Countries with greater corporate transparency are associated with a lower level of post-disclosure investor disagreement. H2: Countries with stronger legal protection are associated with a lower level of post-disclosure investor disagreement. Target population Various stakeholders include firm managers, financial analysts, regulatory watchdogs, and users of earnings reports. Adopted methodology Ordinary Least Squares (OLS) Regressions Analyses Gao et al. ( 2012 ) to measure investor disagreement while we quantify corporate transparency (legal protection) by extracting the first principal component of nine countrywide characteristics pertinent to disclosure requirements (legal systems). Using a global sample from 38 countries, we perform a cross-sectional regression of post-disclosure disagreement on two proxies for investor protection after accounting for firm-specific control variables. Findings We find clear evidence of post-disclosure disagreement in all countries. Next, we document a negative relationship between corporate transparency (legal protection) and post-disclosure disagreement. Additional tests confirm that both better disclosures and strong regulations enhance information precision, accelerate information dissemination, and reduce informed trading, thus leading to a lower level of post-disclosure disagreement.
除了投资者保护方面的文献外,本研究还探讨了全国性的制度特征是否可以解释披露后分歧的跨国差异。先前的研究表明,财务报表的发布加剧了投资者的分歧,而不是减轻了分歧。然而,大多数研究只在美国的背景下获得经验证据;没有工作在国际环境中检查这个研究问题。本文的另一个动机是试图理解文献中的矛盾,强调微观层面的决定因素。相比之下,很少有人关注一个国家信息环境的宏观层面的制度因素,这可能会促使投资者形成异质的信念。检验假设H1:公司透明度越高的国家,披露后投资者的分歧水平越低。H2:法律保护较强的国家披露后投资者的分歧程度较低。不同的利益相关者包括公司经理、金融分析师、监管机构和收益报告的使用者。Gao等人(2012)通过提取与披露要求(法律制度)相关的九个全国性特征的第一个主成分来量化公司透明度(法律保护),并采用普通最小二乘(OLS)回归分析方法来衡量投资者的分歧。使用来自38个国家的全球样本,我们在考虑了公司特定控制变量后,对投资者保护的两个代理进行了披露后分歧的横断面回归。我们在所有国家都发现了信息披露后分歧的明显证据。接下来,我们记录了公司透明度(法律保护)与披露后分歧之间的负相关关系。其他测试证实,更好的披露和强有力的监管都能提高信息准确性,加速信息传播,减少知情交易,从而降低披露后的分歧程度。
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引用次数: 0
期刊
International Journal of Accounting
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