Journal of International Accounting Auditing and Taxation最新文献

Chief executive officer incentives and integrated reporting practices: Evidence from the US market 首席执行官激励与综合报告实践：来自美国市场的证据

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation

Pub Date : 2026-01-21 DOI: 10.1016/j.intaccaudtax.2026.100753

Mohammad Abweny , Aamina Khurram , Rizwan Ahmed , Rasmi Meqbel

This study examines whether the horizon structure (short-term vs. long-term) of incentives for a Chief Executive Officer (CEO) influences their tendency toward integrated reporting practices. Drawing from alignment incentive theory and using a sample from the United States, we find that providing CEOs with long-term incentives (stocks and options) significantly increases the integration of economic, social, and environmental sustainability considerations into their day-to-day decision-making. Conversely, our results show that short-term incentives (salary and bonuses) have a significantly negative effect. These findings remain consistent when we separately examine the influence of each component of CEO compensation on sustainability integration. Further analysis finds that firm value creation is enhanced when CEOs are incentivized with long-term rewards through their engagement in integrated reporting. However, when CEOs are incentivized with short-term rewards, value creation diminishes due to a focus on immediate results rather than strategic decision-making. The analysis also shows that CEOs with a long-term decision horizon tend to adopt integrated reporting, especially when incentivized with long-term rewards, while short-term incentives reduce this tendency.

本研究考察了首席执行官（CEO）的激励水平结构（短期与长期）是否会影响他们对综合报告实践的倾向。根据一致性激励理论并使用美国的样本，我们发现向首席执行官提供长期激励（股票和期权）显著增加了经济、社会和环境可持续性考虑融入其日常决策。相反，我们的研究结果表明，短期激励（工资和奖金）有显著的负面影响。当我们分别考察CEO薪酬各组成部分对可持续性整合的影响时，这些发现是一致的。进一步分析发现，当首席执行官通过参与综合报告而获得长期奖励时，公司价值创造得到了增强。然而，当首席执行官受到短期奖励的激励时，价值创造就会减少，因为他们更关注眼前的结果，而不是战略决策。分析还表明，具有长期决策视野的ceo倾向于采用综合报告，特别是在受到长期奖励激励的情况下，而短期激励则会降低这种倾向。

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引用次数: 0

The impact of managerial attention to digital transformation on stock price synchronicity from the dynamic capability perspective 动态能力视角下管理层对数字化转型的关注对股价同步性的影响

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation

Pub Date : 2026-01-19 DOI: 10.1016/j.intaccaudtax.2026.100751

Jin Jiang , Xiangyun Lu , Li Xie , Rui Ye , Peng Cheng

This study examines how two components of digital transformation (DT), DT integration and DT innovation, influence stock price synchronicity. We view this question through a corporate governance lens, drawing on dynamic capabilities theory. Using textual analysis of MD&A disclosures from Chinese listed firms from 2010 to 2021, we measure managerial attention to DT integration and innovation, revealing their distinct roles in governance. DT integration, which often generates verifiable metrics, reduces stock price synchronicity by enhancing transparency, attracting long-term institutional investors, improving financial reporting quality, and refining analyst forecasts. In contrast, soft information about DT innovation fails to mitigate opacity and increases synchronicity in weak governance environments. Cross-sectional analyses show that integration’s governance benefits persist across institutional settings, while innovation’s effects hinge on external safeguards. Our findings emphasize that DT integration, which reflects a firm’s ability to reconfigure resources for sustained competitiveness, serves as a robust governance tool to enhance market efficiency. Policymakers and firms should prioritize integration-driven strategies to foster transparency while treating innovation’s speculative narratives with caution. This research redefines DT as a dual-process phenomenon, offering actionable insights for aligning digital strategies with governance frameworks in emerging markets.

本研究探讨数位转型（DT）的两个组成部分，DT整合与DT创新，如何影响股价同步性。我们利用动态能力理论，从公司治理的角度来看待这个问题。本文通过对2010 - 2021年中国上市公司md&a信息披露的文本分析，衡量了管理层对DT整合和创新的关注程度，揭示了它们在治理中的不同作用。DT集成通常产生可验证的指标，通过提高透明度、吸引长期机构投资者、提高财务报告质量和精炼分析师预测来降低股价同步性。相比之下，关于DT创新的软信息未能减轻不透明度，并在弱治理环境中增加同步性。横断面分析表明，整合的治理效益在制度设置中持续存在，而创新的效果取决于外部保障。我们的研究结果强调，DT整合反映了企业重新配置资源以获得持续竞争力的能力，是提高市场效率的强有力的治理工具。政策制定者和企业应优先考虑整合驱动战略，以促进透明度，同时谨慎对待创新的投机叙事。本研究将数字数据挖掘重新定义为一种双过程现象，为将新兴市场的数字战略与治理框架相结合提供了可行的见解。

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引用次数: 0

Do monitoring or advisory lead independent directors with financial expertise matter to managerial opportunism? 监督或咨询具有财务专业知识的独立董事对管理机会主义有影响吗？

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation

Pub Date : 2026-01-19 DOI: 10.1016/j.intaccaudtax.2026.100752

Andrews Owusu , Wansu Hu , Frank Kwabi , Kamil Omoteso

Motivated by the increasing interest and the monitoring and advisory roles that a lead independent director may play to decrease managerial opportunism; we examine the relationship between monitoring or advisory lead independent directors and managerial opportunism proxied by earnings management. Using a panel data of US firms from 2001 to 2020, we find that monitoring lead independent directors rather than advisory lead independent directors is negative and significantly associated with discretionary accruals. In an additional analysis, we find that advisory rather than monitoring lead independent directors improve earnings persistence and future cash flows, suggesting that both monitoring and advisory lead independent directors play complementary roles when it comes to corporate performance/earnings quality. We also find that, regardless of the role they play within boardrooms, monitoring and advisory lead independent directors with financial expertise have a decreasing effect on discretionary accruals. These findings provide new insights and improve our understanding of how monitoring and advisory lead independent directors contribute to corporate performance in complementary ways.

由于首席独立董事对减少管理层机会主义的兴趣日益增加，并可能发挥监督和咨询作用；我们研究了监督或咨询领导独立董事与盈余管理代理的管理机会主义之间的关系。利用2001年至2020年美国公司的面板数据，我们发现监督首席独立董事而不是咨询首席独立董事是负的，并且与可自由支配的应计利润显著相关。在另一项分析中，我们发现咨询而不是监督首席独立董事改善盈余持续性和未来现金流，这表明在公司绩效/盈余质量方面，监督和咨询首席独立董事都发挥互补作用。我们还发现，无论他们在董事会中扮演什么角色，具有财务专业知识的监督和咨询领导独立董事对可自由支配的应计利润的影响都在下降。这些发现提供了新的见解，并提高了我们对监督和咨询如何以互补的方式领导独立董事对公司绩效做出贡献的理解。

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引用次数: 0

Data breach disclosure laws and corporate tax planning activities 数据泄露披露法和企业税务筹划活动

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation

Pub Date : 2026-01-16 DOI: 10.1016/j.intaccaudtax.2026.100749

Yanlei Zhang

Cybersecurity has become an increasingly critical challenge worldwide. Prior literature demonstrates that cybersecurity breaches can adversely affect corporate operations and financing activities. However, the understanding of how firms can proactively prepare for future cybersecurity threats remains limited. We posit that firms could intensify their tax planning efforts to reserve internal cash flow to mitigate the potential shock of future cybersecurity threats. To investigate this, we leverage the staggered adoption of data breach disclosure laws in the United States, the first country to implement this type of cybersecurity legislation, as our research setting. The enhanced disclosure requirements heighten firms’ concerns and awareness about cybersecurity risk, and we find that firms increase their tax planning following the enactment of these disclosure laws. Consistent with our theoretical arguments, this relation is more pronounced when a firm is likely to face more severe losses from data breaches, when it is more financially constrained, and when it has a higher incentive to protect shareholders’ interests. Conversely, we find that tax planning efforts diminish in firms with high levels of IT capabilities. Moreover, proactive tax planning can help mitigate the negative effects of data breaches. We also demonstrate that federal guidance on cybersecurity disclosure and the Tax Cuts and Jobs Act further stimulate firms’ tax planning activities. Overall, this study suggests that tax planning can serve as a risk-management strategy to alleviate the potential shocks associated with cybersecurity risks.

网络安全已成为世界范围内日益严峻的挑战。先前的文献表明，网络安全漏洞会对公司运营和融资活动产生不利影响。然而，对于企业如何积极应对未来网络安全威胁的理解仍然有限。我们假设企业可以加强其税收筹划工作，以储备内部现金流，以减轻未来网络安全威胁的潜在冲击。为了调查这一点，我们利用美国交错采用的数据泄露披露法作为我们的研究背景，美国是第一个实施此类网络安全立法的国家。信息披露要求的提高提高了企业对网络安全风险的关注和意识，我们发现这些信息披露法律颁布后，企业增加了税收筹划。与我们的理论论点一致，当一家公司可能因数据泄露而面临更严重的损失时，当它在财务上更受约束时，当它有更高的动机来保护股东的利益时，这种关系就更加明显。相反，我们发现，在具有高水平IT能力的公司中，税收筹划的努力减少了。此外，积极的税务规划可以帮助减轻数据泄露的负面影响。我们还证明，联邦政府对网络安全信息披露的指导和《减税与就业法案》进一步刺激了企业的税务筹划活动。总体而言，本研究表明，税收筹划可以作为一种风险管理策略，缓解与网络安全风险相关的潜在冲击。

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引用次数: 0

The influence of digital information and technological advancement on firms’ ethical practices 数字信息和技术进步对企业道德行为的影响

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation

Pub Date : 2026-01-14 DOI: 10.1016/j.intaccaudtax.2026.100748

Marika Carboni , Marta Degl’Innocenti , Franco Fiordelisi , Davide Salvatore Mare

While technology has the potential to enhance ethical practices, its impact is complex and poorly understood. This paper examines corporate ethical standards in digital tech–oriented firms to explore this dynamic. Using data from the World Bank Enterprise Surveys spanning 2006 through 2023, we find that technology and digitalization positively influence the adoption of environmental and social standards. However, digital tech–oriented firms exhibit lower governance standards. These results are shaped by country culture, the burden of business regulation, and the perception of the courts as obstacles to business activity. Our findings highlight the significance of broader societal influences and the quality of the business environment in determining how digital-oriented technological firms adopt ethical standards.

虽然技术有可能加强道德实践，但其影响是复杂的，而且人们对其知之甚少。本文考察了以数字技术为导向的公司的企业道德标准，以探索这种动态。利用2006年至2023年世界银行企业调查的数据，我们发现技术和数字化对环境和社会标准的采用产生了积极影响。然而，以数字技术为导向的公司表现出较低的治理标准。这些结果受到国家文化、商业监管负担以及将法院视为商业活动障碍的看法的影响。我们的研究结果强调了更广泛的社会影响和商业环境质量在决定数字化技术公司如何采用道德标准方面的重要性。

引用次数: 0

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 blockchain enhance financial reporting quality? b区块链是否提高了财务报告质量？

IF 3.7 Q1 BUSINESS, FINANCE

Journal of International Accounting Auditing and Taxation

Pub Date : 2026-01-08 DOI: 10.1016/j.intaccaudtax.2026.100745

Jean Jinghan Chen , Xinxian Chen , Jason Zezhong Xiao

Although blockchain is an innovative and disruptive technology, it has already been adopted in accounting by some firms. However, as the current state of blockchain incorporation into financial reporting systems and its effects on firms’ financial reporting quality (FRQ) are still unknown, this gap in the literature is addressed in the current study. The obtained results show that blockchain-adopting firms have a lower incidence of material weaknesses in internal control over financial reporting, as well as issue fewer restatements and are less prone to reporting lags. Furthermore, the benefits generated from blockchain adoption are more pronounced for firms that adopt blockchain with IT expertise in their management teams. Overall, the evidence presented in this work suggests that blockchain adoption has a positive impact on FRQ.

虽然区块链是一种创新和颠覆性的技术，但它已经被一些公司采用在会计中。然而，由于区块链纳入财务报告系统的现状及其对公司财务报告质量（FRQ）的影响仍然未知，因此本研究解决了文献中的这一空白。所获得的结果表明，采用区块链的公司在财务报告内部控制方面的重大缺陷发生率较低，并且发布的重述较少，并且不易出现报告滞后。此外，对于在管理团队中拥有IT专业知识的采用区块链的公司来说，采用区块链所产生的好处更为明显。总的来说，本研究提供的证据表明，区块链的采用对FRQ有积极的影响。

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