Journal of International Accounting Auditing and Taxation最新文献

英文中文

The boardroom firewall: Gender diversity and cybersecurity 董事会防火墙：性别多样性和网络安全

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation

Pub Date : 2026-01-13 DOI: 10.1016/j.intaccaudtax.2026.100750

Kurt A. Desender, Mónica LópezPuertas-Lamy

Cybersecurity risk poses a growing threat to business operations and financial reporting integrity. This study explores whether board gender diversity is associated with enhanced resilience to cyber threats, focusing on its relationship with the likelihood of cybersecurity incidents. Using panel data from US listed firms between 2007 and 2021, we find that gender-diverse boards are significantly less likely to report cyber incidents, with this association concentrated in boards achieving a critical mass of at least three female directors. Substantive representation, rather than symbolic inclusion, appears pivotal as female directors’ participation on key committees, particularly audit committees, is linked to stronger cybersecurity oversight. The relationship is more pronounced in firms where the Chief Executive Officer (CEO) also serves as board chair, where the top management team (TMT) is gender-diverse, and where a dedicated technology committee exists. This underscores the importance of advisory capacity and complementary governance structures. Conversely, the association weakens in boards with longer average director tenure or extensive external networks. To address endogeneity, we leverage the 2017 “Fearless Girl” campaign as a quasi-natural experiment and find consistent results using a difference-in-differences design. These findings contribute to better understanding how governance dynamics shape organizational capacity to navigate complex technological risks.

网络安全风险对业务运营和财务报告完整性构成越来越大的威胁。本研究探讨董事会性别多样性是否与增强的网络威胁抵御能力有关，重点关注其与网络安全事件发生可能性的关系。利用2007年至2021年间美国上市公司的面板数据，我们发现性别多元化的董事会报告网络事件的可能性显著降低，这种关联主要集中在女性董事至少达到三名的董事会。实质性的代表，而不是象征性的加入，似乎至关重要，因为女性董事参与关键委员会，尤其是审计委员会，与加强网络安全监督有关。在首席执行官（CEO）同时担任董事会主席、最高管理团队（TMT）性别多样化、存在专门技术委员会的公司中，这种关系更为明显。这强调了咨询能力和互补的治理结构的重要性。相反，在董事平均任期较长或外部网络广泛的董事会中，这种关联会减弱。为了解决内生性问题，我们利用2017年的“无畏女孩”活动作为准自然实验，并使用差异中的差异设计找到一致的结果。这些发现有助于更好地理解治理动态如何塑造组织驾驭复杂技术风险的能力。

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引用次数: 0

Does the presence of institutional dual holders affect audit pricing? 机构双重持有人的存在是否影响审计定价？

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation

Pub Date : 2026-01-06 DOI: 10.1016/j.intaccaudtax.2026.100746

Yingwen Guo , Liang Xu , Jing Xue , Haoyi Yang , Chunqiu Zhang

This study investigates whether and how the presence of creditors’ simultaneous debt and equity holdings (dual ownership) affects auditors’ risk assessment and pricing decisions. Analyzing a sample of United States public firms from 2001 to 2017, we find that firms with dual holders incur higher audit fees than those without. We posit that dual holders have incentives to strategically shape the firm’s information environment to preserve their private informational advantage (information advantage channel) and to promote specific risk-taking behaviors (incentive alignment channel). These channels increase information asymmetry between a firm and outside investor, as well as the firm’s business and audit risks. Supporting this hypothesis, our findings indicate that dual-held firms have lower earnings quality and higher litigation risks. Furthermore, we find that the positive effect of dual holdings on audit fees is attenuated when the external information environment is more transparent, and is more (less) pronounced when dual holders possess more share (debt) interest than other shareholders (debtholders). This study contributes to the literature by revealing how third-party information intermediary responds to the presence of institutional dual holders. Given the growing prevalence of institutional dual holders in international markets, our findings could be of interest to practitioners and regulators worldwide.

本研究探讨债权人同时持有债务和股权（双重所有权）是否以及如何影响审计人员的风险评估和定价决策。通过对2001年至2017年美国上市公司样本的分析，我们发现拥有双重股东的公司的审计费用高于没有双重股东的公司。我们假设双重持有者有动机战略性地塑造公司的信息环境，以保持他们的私人信息优势（信息优势渠道），并促进特定的冒险行为（激励对齐渠道）。这些渠道增加了公司与外部投资者之间的信息不对称，也增加了公司的业务和审计风险。为了支持这一假设，我们的研究结果表明，双重控股公司的盈利质量较低，诉讼风险较高。此外，我们发现，当外部信息环境更加透明时，双重控股对审计费用的积极影响减弱，当双重股东比其他股东（债权人）拥有更多的股份（债务）利益时，双重控股对审计费用的积极影响更明显（不明显）。本研究通过揭示第三方信息中介如何应对机构双重持有者的存在，为文献做出了贡献。鉴于国际市场上机构双重持有者的日益普遍，我们的研究结果可能会引起全球从业者和监管机构的兴趣。

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引用次数: 0

Customer concentration and firm value: Evidence from China 客户集中度与企业价值：来自中国的证据

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation

Pub Date : 2025-12-23 DOI: 10.1016/j.intaccaudtax.2025.100744

Huiqiang Wang , Wenzhi Wu , Zheng Liu

Customer concentration could have a risk effect or a value-creation effect. Leveraging a dataset of Chinese A-share listed firms spanning 2007 to 2020, we find that higher customer concentration is positively associated with firm value. This relationship remains robust to propensity score matching, instrumental variable estimation, and a battery of robustness checks. Further analysis suggests that the value-creation effect operates through the signaling of value to external stakeholders and through improved managerial efficiency. Cross-sectional evidence indicates that this positive effect is more pronounced among non-state-owned firms, smaller firms, those in relatively less competitive positions within their industry, those located in central and western China, and those with lower levels of supply chain transparency. These findings contribute to a deeper understanding of how supplier-customer dynamics influence firm performance in emerging markets.

客户集中可能产生风险效应，也可能产生价值创造效应。利用2007年至2020年中国a股上市公司的数据集，我们发现客户集中度越高，公司价值越高。这种关系对倾向得分匹配、工具变量估计和一系列稳健性检查仍然是稳健的。进一步分析表明，价值创造效应通过向外部利益相关者传递价值信号和提高管理效率来发挥作用。横向证据表明，这种积极效应在非国有企业、规模较小的企业、行业内竞争相对较弱的企业、位于中国中西部的企业以及供应链透明度较低的企业中更为明显。这些发现有助于更深入地了解供应商-客户动态如何影响新兴市场的公司绩效。

引用次数: 0

Social capital and accounting conservatism☆ 社会资本与会计稳健性☆

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation

Pub Date : 2025-12-20 DOI: 10.1016/j.intaccaudtax.2025.100743

Mansoor Afzali , Gonul Colak , Iftekhar Hasan , Minna Martikainen

We investigate the relationship between county-level social capital in the U.S. and asymmetric earnings timeliness (accounting conservatism). We measure social capital by the strength of civic norms and the density of social networks in a community. We find that firms headquartered in regions with higher social capital have earnings that reflect bad news more quickly than good news. Two potential mechanisms driving this connection are evident in our findings. First, the positive link between social capital and asymmetric earnings timeliness is more pronounced in firms with weaker external oversight, suggesting that social capital compensates for weaknesses in these mechanisms by discouraging managers from delaying the recognition of bad news. Second, we illustrate that firms in high social capital regions are more likely to recruit senior executives with higher asymmetric earnings timeliness coefficients. This result implies a preference for managers who adopt more conservative accounting practices. We find similar results using an international sample of firms from 21 countries. Our findings offer new insights into how local social norms influence corporate financial reporting.

本文研究了美国县级社会资本与非对称盈余时效性（会计稳健性）之间的关系。我们通过公民规范的强度和社区中社会网络的密度来衡量社会资本。我们发现，总部位于社会资本较高地区的公司，其收益反映坏消息的速度要快于反映好消息的速度。在我们的研究结果中，有两个潜在的机制驱动了这种联系。首先，在外部监督较弱的公司中，社会资本与非对称收益及时性之间的正相关关系更为明显，这表明社会资本通过阻止管理者推迟对坏消息的认识来弥补这些机制的弱点。其次，高社会资本地区的企业更倾向于招聘非对称收益时效性系数较高的高管。这一结果意味着管理者倾向于采用更保守的会计做法。我们使用来自21个国家的国际公司样本发现了类似的结果。我们的研究结果为当地社会规范如何影响公司财务报告提供了新的见解。

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引用次数: 0

Double taxation treaties and disclosure of offshore activities: evidence of tax avoidance incentive 双重征税条约和离岸活动的披露：避税激励的证据

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation

Pub Date : 2025-12-13 DOI: 10.1016/j.intaccaudtax.2025.100742

Wenbin Cao , Rong Ding , Chih-Chieh Hsieh

In this study, we examine the association between double taxation treaties (DTTs) and United States multinational enterprises’ (MNEs) disclosure of offshore activities. Using a dataset consisting of 890,746 firm-subsidiary-year observations between 1999 and 2017, we find that the establishment of DTTs reduces a firm’s voluntary disclosure of their offshore activity. Additional tests suggest that tax avoidance incentives with DTTs is one factor causing the reduction in disclosure of a firm’s offshore activity. We find that the reduction of the disclosure of offshore activity is concentrated in firms with operations in high statutory tax rate countries, lower income mobility, and a higher likelihood of using a tax shelter. Our findings have implications for policymakers and tax authorities around the world.

在本研究中，我们研究了双重征税条约（DTTs）与美国跨国企业（MNEs）离岸活动披露之间的关系。使用由1999年至2017年间890,746家公司子公司年度观察数据组成的数据集，我们发现dts的建立减少了公司对其离岸活动的自愿披露。额外的测试表明，dts的避税激励是导致公司离岸活动披露减少的一个因素。我们发现，离岸活动披露的减少主要集中在那些在高法定税率国家、收入流动性较低、使用避税手段的可能性较高的公司。我们的研究结果对世界各地的政策制定者和税务机关具有启示意义。

引用次数: 0

Strategy typology and non-GAAP earnings disclosure 战略类型和非公认会计准则收益披露

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation

Pub Date : 2025-12-04 DOI: 10.1016/j.intaccaudtax.2025.100740

Zhangfan Cao , Steven Xianglong Chen , Yu-Lin Hsu , Edward Lee

This paper examines the influence of business strategy on firms’ discretionary disclosure of non-GAAP earnings. We find that innovation-oriented firms (i.e., prospectors) have a higher propensity of disclosing non-GAAP earnings, whereas efficiency-driven firms (i.e., defenders) are less likely to issue non-GAAP earnings. Subsequent tests reveal that the prospector managers are more likely to disclose non-GAAP earnings to ‘convert’ a GAAP loss into a non-GAAP profit and ‘meet and beat’ analyst forecasts, consistent with managers’ opportunistic use of non-GAAP earnings as a strategic device to engage in impression management. To corroborate the managerial opportunism behind non-GAAP earnings disclosure, we test the quality of non-GAAP exclusions and find that the managerial exclusions by prospectors are of lower quality. Cross-sectional analyses indicate that the positive relationship between business strategy and non-GAAP earnings disclosure is more pronounced amongst firms with higher levels of prior accruals management, firms facing higher agency costs, and firms with higher managerial ability. Our results are robust to a battery of robustness tests such as triple-differences analysis based on exogenous shocks, propensity-score-matching technique, and instrumental variable approach. Overall, our study documents the role of business strategy as an intrinsic and non-financial firm characteristic in shaping the voluntary disclosure of financial information.

本文考察了企业战略对非公认会计准则盈余自主披露的影响。我们发现，以创新为导向的公司（即勘探者）更倾向于披露非公认会计准则收益，而效率驱动的公司（即防御者）不太可能发布非公认会计准则收益。随后的测试表明，探矿经理更有可能披露非GAAP收益，将GAAP亏损“转化”为非GAAP利润，并“达到并超过”分析师的预测，这与经理们投机地使用非GAAP收益作为参与印象管理的战略手段是一致的。为了证实非公认会计准则盈余披露背后的管理机会主义，我们测试了非公认会计准则排除的质量，发现勘探者的管理排除质量较低。横断面分析表明，企业战略与非公认会计准则盈余披露之间的正相关关系在事前应计项目管理水平较高的公司、代理成本较高的公司和管理能力较高的公司中更为明显。我们的结果对一系列稳健性测试具有稳健性，例如基于外生冲击的三差异分析、倾向得分匹配技术和工具变量方法。总体而言，我们的研究记录了企业战略在塑造财务信息自愿披露中的内在和非财务企业特征的作用。

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引用次数: 0

Audit effort and audit fee stickiness 审计工作量和审计费用粘性

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation

Pub Date : 2025-12-02 DOI: 10.1016/j.intaccaudtax.2025.100741

Nikolaos I. Karampinis

This study examines the presence of fee stickiness in response to declines in audit effort. Potential drivers of reduced effort include changes in client characteristics, auditor learning, and lower audit quality with extended tenure. The asymmetric fee response to reductions in audit effort is conceptually grounded in the credence nature of audit services and the role of transaction costs. Using a proprietary dataset of audit hours from a large sample of public and private firms in Greece, I find that audit fees decrease less in response to reductions in audit hours than they increase with equivalent effort increases – an evidence of audit fee stickiness. This stickiness is most pronounced among the largest international accounting firm auditors with medium tenure. Audit fee stickiness is also positively associated with greater information asymmetry between the auditor and the client, larger changes in audit effort, and higher accounting quality. Collectively, the findings suggest that audit fee stickiness primarily reflects accumulated auditor learning rather than deteriorating audit quality, and that it is more attributable to the credence attributes of audit services than to transaction costs.

本研究考察了费用粘性的存在，以应对审计工作的下降。减少工作量的潜在驱动因素包括客户特征的变化、审计师的学习以及任期延长导致的审计质量下降。费用对审计工作减少的不对称反应在概念上是基于审计服务的信任性质和交易成本的作用。我使用了一个来自希腊大量公共和私营公司样本的专有审计时间数据集，发现审计费用随着审计时间的减少而减少的幅度小于随着工作量的增加而增加的幅度——这是审计费用粘性的一个证据。这种粘性在大型国际会计师事务所的中期任期审计师中最为明显。审计费用粘性还与审计师与客户之间更大的信息不对称、审计工作的更大变化和更高的会计质量呈正相关。总的来说，研究结果表明，审计费用粘性主要反映的是审计师积累的学习，而不是审计质量的恶化，而且它更多地归因于审计服务的可信度属性，而不是交易成本。

{"title":"Audit effort and audit fee stickiness","authors":"Nikolaos I. Karampinis","doi":"10.1016/j.intaccaudtax.2025.100741","DOIUrl":"10.1016/j.intaccaudtax.2025.100741","url":null,"abstract":"<div><div>This study examines the presence of fee stickiness in response to declines in audit effort. Potential drivers of reduced effort include changes in client characteristics, auditor learning, and lower audit quality with extended tenure. The asymmetric fee response to reductions in audit effort is conceptually grounded in the credence nature of audit services and the role of transaction costs. Using a proprietary dataset of audit hours from a large sample of public and private firms in Greece, I find that audit fees decrease less in response to reductions in audit hours than they increase with equivalent effort increases – an evidence of audit fee stickiness. This stickiness is most pronounced among the largest international accounting firm auditors with medium tenure. Audit fee stickiness is also positively associated with greater information asymmetry between the auditor and the client, larger changes in audit effort, and higher accounting quality. Collectively, the findings suggest that audit fee stickiness primarily reflects accumulated auditor learning rather than deteriorating audit quality, and that it is more attributable to the credence attributes of audit services than to transaction costs.</div></div>","PeriodicalId":53221,"journal":{"name":"Journal of International Accounting Auditing and Taxation","volume":"60 ","pages":"Article 100741"},"PeriodicalIF":3.7,"publicationDate":"2025-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145693762","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}

引用次数: 0

Twenty years of IFRS ‘success’? A systematic review of Scopus literature 国际财务报告准则的“成功”二十年？对Scopus文献的系统回顾

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation

Pub Date : 2025-11-29 DOI: 10.1016/j.intaccaudtax.2025.100739

Erekle Pirveli , Jochen Zimmermann

This study augments the literature by systematically reviewing market- and firm-level effects of International Financial Reporting Standards (IFRS) adoption over the past two decades. Drawing on 181 articles from the Scopus database, our meta-analysis applies multivariate regression and Structural Equation Modeling (SEM) to simultaneously examine the relationships between accounting quality, accounting comparability, market effects, and the findings of IFRS adoption. The results show predominantly positive effects on market outcomes, such as reduced forecast errors, increased investment flows, and improved market liquidity, whereas findings on accounting quality and comparability remain mixed. Crucially, SEM reveals that these market improvements are not primarily driven by fundamental accounting enhancements in either accounting quality or comparability. Instead, market effects exert a strong direct influence on IFRS findings, whereas accounting dimensions exhibit weaker direct and significantly negative indirect effects. These insights challenge the common assumption that market-level improvements stem from enhanced accounting fundamentals. By offering a structured and quantitative synthesis, this study strengthens methodological rigor in IFRS literature and informs future research on standard-setting outcomes.

本研究通过系统地回顾过去二十年来采用国际财务报告准则（IFRS）对市场和公司层面的影响来补充文献。利用Scopus数据库中的181篇文章，我们的荟萃分析应用多元回归和结构方程模型（SEM）来同时检查会计质量、会计可比性、市场效应和采用国际财务报告准则的结果之间的关系。结果显示，对市场结果的影响主要是积极的，如减少预测误差、增加投资流量和改善市场流动性，而对会计质量和可比性的影响则喜忧参半。至关重要的是，SEM揭示了这些市场改善主要不是由会计质量或可比性的基本会计改进所驱动的。相反，市场效应对国际财务报告准则的发现产生强烈的直接影响，而会计维度表现出较弱的直接和显著的负面间接影响。这些见解挑战了普遍的假设，即市场水平的改善源于会计基础的加强。通过提供结构化和定量的综合，本研究加强了国际财务报告准则文献方法的严谨性，并为未来的标准制定结果研究提供了信息。

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引用次数: 0

CEO retirement and cost stickiness CEO退休和成本粘性

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation

Pub Date : 2025-11-28 DOI: 10.1016/j.intaccaudtax.2025.100738

Jamie Y. Tong , James Thewissen , Serene Xu Ni , Shimin Chen

Cost stickiness is a crucial concern in accounting research. Prior research sheds light on how cost asymmetry is shaped by managerial decisions in adjusting resources either for value maximization or self-interest. In this paper, we investigate the relationship between the degree of cost stickiness and intentional resource adjustments made by Chief Executive Officers (CEOs) approaching retirement age. Based on a sample of United States firms between 1993 and 2019, our findings indicate that CEOs approaching retirement tend to reduce their selling, general, and administrative (SG&A) expenses in response to declining sales. This effect is more pronounced when motivating and monitoring mechanisms are weaker. We also explore the influence of cultural differences on corporate decision making and find that the reduction in SG&A costs is more substantial among CEOs coming from countries with a stronger future oriented language. We conduct additional analyses to address endogeneity concerns and to check the robustness of our main findings.

成本粘性是会计研究中的一个重要问题。先前的研究揭示了成本不对称是如何被管理决策所塑造的，无论是为了价值最大化还是为了自身利益而调整资源。本文研究了接近退休年龄的首席执行官的成本粘性与有意资源调整之间的关系。基于1993年至2019年美国公司的样本，我们的研究结果表明，接近退休的首席执行官倾向于减少销售、一般和行政（SG& a）费用，以应对销售额下降。当激励和监督机制较弱时，这种影响更为明显。我们还探讨了文化差异对企业决策的影响，发现来自未来导向语言更强的国家的首席执行官，其SG&；A成本的降低更为显著。我们进行了额外的分析，以解决内生性问题，并检查我们的主要发现的稳健性。

引用次数: 0

Do academic directors on audit committees affect corporate tax avoidance? 审计委员会的学术董事会影响企业避税吗？

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation

Pub Date : 2025-11-27 DOI: 10.1016/j.intaccaudtax.2025.100736

Dong Chen , Yingwen Guo , Qiliang Liu , Phyllis L.L. Mo

This study examines whether academic directors on audit committees affect corporate tax avoidance. Using a sample of Chinese listed firms, we find that academic directors on audit committees reduce tax avoidance. Quantile regression analyses show that academic directors reduce tax avoidance for over-sheltered firms, but there is no evidence to support their impact on tax avoidance for under-sheltered firms. We also find that academic directors limit the use of income shifting and transfer pricing as tax avoidance strategies. Moreover, the negative relationship between academic directors and tax avoidance does not vary with the severity of agency conflicts measured by the separation of voting and cash flow rights. These results imply that academic directors are effective monitors in curbing aggressive tax avoidance, but they do not play an advisory role in tax planning, probably due to a lack of tax-related industry experience. Our results are robust to endogeneity concerns. This study contributes to the literature on board diversity and sheds light on the influence of corporate governance on tax avoidance.

本研究探讨审计委员会的学术董事是否会影响企业避税。以中国上市公司为样本，我们发现审计委员会的学术董事减少了避税行为。分位数回归分析表明，学术董事减少了过度保护企业的避税行为，但没有证据支持他们对缺乏保护企业的避税行为的影响。我们还发现，学术董事限制了收入转移和转移定价作为避税策略的使用。此外，学术董事与避税之间的负向关系不随表决权和现金流权分离所衡量的代理冲突的严重程度而变化。这些结果表明，学术董事在遏制激进避税方面是有效的监督者，但他们在税收筹划中不发挥咨询作用，这可能是由于缺乏与税收相关的行业经验。我们的结果是稳健的内生性问题。本研究对董事会多样性的研究文献有所贡献，并揭示了公司治理对避税的影响。

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