Pub Date : 2026-01-09DOI: 10.1016/j.bar.2026.101837
Alex Nguyen, Jun Myung Song, Cameron Truong
We establish a measure of assessing the bilateral political relations between the United States and other countries. We hypothesize that political events and shifts, evidenced by changes in bilateral political relations, significantly increase uncertainty in financial markets, prompting analysts to adopt herding behavior as a risk-averse strategy. In efforts to navigate bilateral political uncertainty, analysts align their forecasts with the consensus to reduce the risk of individual error. We find that deteriorating bilateral political relations is associated with analysts exhibiting higher levels of herding in their earnings forecasts for foreign stocks listed in the US market, specifically in the form of American Depository Receipts (ADRs) from those countries. We show that uncertainty acts as the channel through which bilateral political relations influence analyst herding. Notably, analyst herding as triggered by poor bilateral political relations results in less accurate earnings forecasts. Overall, as analysts prioritize risk aversion in unpredictable political climates, there is a considerable reduction in the quality of their professional work.
{"title":"Bilateral political relations and analyst herding","authors":"Alex Nguyen, Jun Myung Song, Cameron Truong","doi":"10.1016/j.bar.2026.101837","DOIUrl":"https://doi.org/10.1016/j.bar.2026.101837","url":null,"abstract":"We establish a measure of assessing the bilateral political relations between the United States and other countries. We hypothesize that political events and shifts, evidenced by changes in bilateral political relations, significantly increase uncertainty in financial markets, prompting analysts to adopt herding behavior as a risk-averse strategy. In efforts to navigate bilateral political uncertainty, analysts align their forecasts with the consensus to reduce the risk of individual error. We find that deteriorating bilateral political relations is associated with analysts exhibiting higher levels of herding in their earnings forecasts for foreign stocks listed in the US market, specifically in the form of American Depository Receipts (ADRs) from those countries. We show that uncertainty acts as the channel through which bilateral political relations influence analyst herding. Notably, analyst herding as triggered by poor bilateral political relations results in less accurate earnings forecasts. Overall, as analysts prioritize risk aversion in unpredictable political climates, there is a considerable reduction in the quality of their professional work.","PeriodicalId":501001,"journal":{"name":"The British Accounting Review","volume":"255 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2026-01-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145957362","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-10DOI: 10.1016/j.bar.2025.101817
Mengshu Hao, Jeong Hwan Joo
{"title":"Equity Incentives and Earnings Management: Evidence from the Adoption of an Anti-Hedging Policy","authors":"Mengshu Hao, Jeong Hwan Joo","doi":"10.1016/j.bar.2025.101817","DOIUrl":"https://doi.org/10.1016/j.bar.2025.101817","url":null,"abstract":"","PeriodicalId":501001,"journal":{"name":"The British Accounting Review","volume":"111 1","pages":"101817"},"PeriodicalIF":0.0,"publicationDate":"2025-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145732676","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-05DOI: 10.1016/j.bar.2025.101814
Yaohua Qin, He Xiao, Xi He, Hanjie Meng
{"title":"Corrigendum to “Does audit Partner–Client relationship affect managerial tone? Evidence from earnings conference calls question and answer Sessions” [The British Accounting Review 101781]","authors":"Yaohua Qin, He Xiao, Xi He, Hanjie Meng","doi":"10.1016/j.bar.2025.101814","DOIUrl":"https://doi.org/10.1016/j.bar.2025.101814","url":null,"abstract":"","PeriodicalId":501001,"journal":{"name":"The British Accounting Review","volume":"45 1","pages":"101814"},"PeriodicalIF":0.0,"publicationDate":"2025-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145704978","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-11-20DOI: 10.1016/j.bar.2025.101784
Daniel Cahill, Zhangxin (Frank) Liu, Lee Smales
{"title":"Technical talk in bitcoin and equity","authors":"Daniel Cahill, Zhangxin (Frank) Liu, Lee Smales","doi":"10.1016/j.bar.2025.101784","DOIUrl":"https://doi.org/10.1016/j.bar.2025.101784","url":null,"abstract":"","PeriodicalId":501001,"journal":{"name":"The British Accounting Review","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2025-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145553586","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-11-20DOI: 10.1016/j.bar.2025.101805
Angela Hecimovic, Dominic Canestrari-Soh
{"title":"Strategies for Internal Auditors to expand their role in ESG assurance","authors":"Angela Hecimovic, Dominic Canestrari-Soh","doi":"10.1016/j.bar.2025.101805","DOIUrl":"https://doi.org/10.1016/j.bar.2025.101805","url":null,"abstract":"","PeriodicalId":501001,"journal":{"name":"The British Accounting Review","volume":"191 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2025-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145553711","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-11-20DOI: 10.1016/j.bar.2025.101806
Qihui Gong, Huilong Liu, Jing Xie
{"title":"Bureaucratic Discretion and Auditor Choice: Evidence from a Quasi-natural Experiment*","authors":"Qihui Gong, Huilong Liu, Jing Xie","doi":"10.1016/j.bar.2025.101806","DOIUrl":"https://doi.org/10.1016/j.bar.2025.101806","url":null,"abstract":"","PeriodicalId":501001,"journal":{"name":"The British Accounting Review","volume":"27 1","pages":"101806"},"PeriodicalIF":0.0,"publicationDate":"2025-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145575676","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-11-08DOI: 10.1016/j.bar.2025.101778
Yibei He, Abdullah Mamun, Dev R. Mishra
{"title":"LOAN LOSS PROVISIONING IN COMMUNITY BANKS – A STUDY USING COMMUNITY BANKING DATA","authors":"Yibei He, Abdullah Mamun, Dev R. Mishra","doi":"10.1016/j.bar.2025.101778","DOIUrl":"https://doi.org/10.1016/j.bar.2025.101778","url":null,"abstract":"","PeriodicalId":501001,"journal":{"name":"The British Accounting Review","volume":"40 1","pages":"101778"},"PeriodicalIF":0.0,"publicationDate":"2025-11-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145472927","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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