Pub Date : 2023-11-07DOI: 10.1080/00014788.2023.2266803
Andrei Filip, Junqi Liu, Daphne Lui
AbstractPrior literature suggests that cost stickiness increases the ex-ante volatility and reduces the predictability of earnings. We examine whether managers intentionally undo such consequences by dampening earnings volatility. Exploiting the staggered adoption of wrongful discharge laws as an exogenous instrument for cost stickiness, we document that cost stickiness increases managers’ income-smoothing activities. This response is more pronounced in firms whose earnings are more sensitive to labour costs than their industry peers are and in firms with stronger information-provision incentives. Additional analyses indicate that income smoothing improves sticky-cost firms’ earnings informativeness and that the identified impact of cost stickiness is primarily driven by labour costs. Our results suggest that labour regulations can influence managers’ financial reporting incentives via cost behaviour.Keywords: cost stickinessincome smoothingemployment protectionearnings informativeness AcknowledgmentsWe are heavily indebted to the associated editor Stefano Cascino and two anonymous reviewers for their constructive and thoughtful guidance. We thank Beatriz García-Osma, Thomas Jeanjean, Anne Jeny, Sanjay Kallapur, Itay Kama, Reuven Lehavy, Andreea Moraru-Arfire, Naomi Soderstrom, Samuel Tan (discussant), and workshop participants at ESSEC Business School and the EAA Annual Congress 2019 in Paphos for their helpful comments and suggestions. Junqi Liu also gratefully acknowledges the financial support from the National Natural Science Foundation of China (NSFC), grant number 72202190, from the Social Science Foundation of Fujian Province, grant number FJ2022C034, from the Fundamental Research Funds for the Central Universities, grant number 20720221042, and from the Association Francophone de Comptabilité (AFC). All remaining errors are our own.Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 Cost stickiness arises primarily from the asymmetry in managers’ real resource commitment. When activity levels increase, managers add resources to meet growing demand; when activity levels fall, they retain some of their underutilized resources, because they perceive the adjustment costs of reducing the resources as higher than the costs of holding them (Anderson et al. Citation2003). In this sense, cost stickiness is distinct from managers’ financial reporting choice.2 In this study, we focus on accrual-based income smoothing, which reflects managerial effort to reduce earnings volatility through accounting methods (in contrast to real activities); see Section 2.2 for more detail. We do not discuss income smoothing through real activities such as discretionary adjustments of R&D or marketing expenditures because such activities are likely detrimental to firm performance in the long run.3 For example, if each employee uses a truck or a software license (i.e. complements to labour), then greater labour cost stickiness wi
{"title":"The impact of cost stickiness on income smoothing: evidence from employment protection regulations","authors":"Andrei Filip, Junqi Liu, Daphne Lui","doi":"10.1080/00014788.2023.2266803","DOIUrl":"https://doi.org/10.1080/00014788.2023.2266803","url":null,"abstract":"AbstractPrior literature suggests that cost stickiness increases the ex-ante volatility and reduces the predictability of earnings. We examine whether managers intentionally undo such consequences by dampening earnings volatility. Exploiting the staggered adoption of wrongful discharge laws as an exogenous instrument for cost stickiness, we document that cost stickiness increases managers’ income-smoothing activities. This response is more pronounced in firms whose earnings are more sensitive to labour costs than their industry peers are and in firms with stronger information-provision incentives. Additional analyses indicate that income smoothing improves sticky-cost firms’ earnings informativeness and that the identified impact of cost stickiness is primarily driven by labour costs. Our results suggest that labour regulations can influence managers’ financial reporting incentives via cost behaviour.Keywords: cost stickinessincome smoothingemployment protectionearnings informativeness AcknowledgmentsWe are heavily indebted to the associated editor Stefano Cascino and two anonymous reviewers for their constructive and thoughtful guidance. We thank Beatriz García-Osma, Thomas Jeanjean, Anne Jeny, Sanjay Kallapur, Itay Kama, Reuven Lehavy, Andreea Moraru-Arfire, Naomi Soderstrom, Samuel Tan (discussant), and workshop participants at ESSEC Business School and the EAA Annual Congress 2019 in Paphos for their helpful comments and suggestions. Junqi Liu also gratefully acknowledges the financial support from the National Natural Science Foundation of China (NSFC), grant number 72202190, from the Social Science Foundation of Fujian Province, grant number FJ2022C034, from the Fundamental Research Funds for the Central Universities, grant number 20720221042, and from the Association Francophone de Comptabilité (AFC). All remaining errors are our own.Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 Cost stickiness arises primarily from the asymmetry in managers’ real resource commitment. When activity levels increase, managers add resources to meet growing demand; when activity levels fall, they retain some of their underutilized resources, because they perceive the adjustment costs of reducing the resources as higher than the costs of holding them (Anderson et al. Citation2003). In this sense, cost stickiness is distinct from managers’ financial reporting choice.2 In this study, we focus on accrual-based income smoothing, which reflects managerial effort to reduce earnings volatility through accounting methods (in contrast to real activities); see Section 2.2 for more detail. We do not discuss income smoothing through real activities such as discretionary adjustments of R&D or marketing expenditures because such activities are likely detrimental to firm performance in the long run.3 For example, if each employee uses a truck or a software license (i.e. complements to labour), then greater labour cost stickiness wi","PeriodicalId":7054,"journal":{"name":"Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135475662","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-07DOI: 10.1080/00014788.2023.2258781
Qiurong Yang, Gang Bai
AbstractWe investigate the effect of the 2005 US hurricane strikes on big bath earnings management in the banking industry. Using a difference-in-differences approach, we find that banks affected by the hurricanes add more discretionary loan loss provisions (DLLP) after the shock relative to unaffected banks. Further tests suggest that the hurricane-induced DLLP increase is attributable to opportunistic big bath accounting rather than to a precautionary motive. We also show that the effect of the hurricanes on big bath earnings management is more pronounced in banks that were managing earnings upwards more aggressively before the hurricanes.Keywords: big bath earnings managementbankingdiscretionary loan loss provisionsnatural disastersJEL classification: G21M41 AcknowledgementsWe are grateful to Juan Manuel García Lara (the editor) and two anonymous referees for their valuable and constructive suggestions. We also appreciate comments and suggestions from seminar participants at Southwestern University of Finance and Economics.Disclosure statementNo potential conflict of interest was reported by the author(s).Data availability statementThe data that support the findings of this study are available from FEMA and the Statistics on Depository Institutions database of the FDIC. These data were derived via https://www.fema.gov/disasters and https: //www.fdic.gov/bank/statistical/.Notes1 Ng and Roychowdhury (Citation2014) point out that the increase in LLPs can increase a bank’s total regulatory capital under certain conditions. We detail these conditions in Section 4.3.1.2 In Section 3.2, we detail the definition of the treatment group (affected banks) and the control group (unaffected banks).3 Following Schüwer et al. (Citation2019), non-performing loans are measured as total assets past due 90 or more days and still accruing interest. Unreported findings indicate that the results are robust when we compute non-performing loans as the sum of total assets past due 30 days or more and still accruing interest and total assets no longer accruing interest.4 In Section 3.3, we detail the procedure of PSM.5 In Section 3.3, we detail the selection of the sample period.6 Data are acquired via https://www.fdic.gov/bank/statistical/.7 Data are acquired via https://www.fema.gov/disasters.8 According to the National Bureau of Economic Research, the 2001 recession ended in November 2001, and the 2008 financial crisis started in December 2007. Thus, we limit the sample period to Q1 2002–Q3 2007 to avoid the overlap with two recessions. In the robustness section, we shorten the sample period and the results remain similar.9 Specifically, Size equals the natural logarithm of total assets. Loan (Deposit, CAP) equals total loans (total deposits, the value of equity) divided by total assets. ROA is the return on assets.10 We only include the interaction term in our regressions because we focus on future performance improvement of those treatment banks increasing DLLP in
摘要本文研究了2005年美国飓风对银行业大额盈余管理的影响。使用差异中的差异方法，我们发现受飓风影响的银行在冲击后相对于未受影响的银行增加了更多的可自由支配贷款损失准备金(DLLP)。进一步的测试表明，飓风导致的DLLP增加是由于机会主义的大浴核算，而不是出于预防动机。我们还表明，飓风对大型银行盈利管理的影响在飓风前更积极地管理盈利的银行中更为明显。关键词:大浴盈余管理银行可自由支配的贷款损失准备金自然灾害jel分类:G21M41致谢感谢Juan Manuel García Lara(编辑)和两位匿名审稿人提出的宝贵和建设性意见。我们也感谢西南财经大学研讨会参与者的意见和建议。披露声明作者未报告潜在的利益冲突。数据可用性声明支持本研究结果的数据来自联邦应急管理局和联邦存款保险公司的存款机构统计数据库。这些数据来源于https://www.fema.gov/disasters和https:// www.fdic.gov/bank/statistical/.Notes1 Ng和Roychowdhury (Citation2014)指出，在一定条件下，llp的增加可以增加银行的总监管资本。在第3.2节中，我们详细说明了实验组(受影响的银行)和对照组(未受影响的银行)的定义根据sch等人(Citation2019)的研究，不良贷款被衡量为逾期90天或更长时间且仍在产生利息的总资产。未报告的研究结果表明，当我们将不良贷款计算为逾期30天或以上仍在计息的总资产和不再计息的总资产的总和时，结果是稳健的在第3.3节中，我们详细介绍了psm的程序。5在第3.3节中，我们详细介绍了样本周期的选择根据美国国家经济研究局(National Bureau of Economic Research)的数据，2001年的经济衰退于2001年11月结束，2008年的金融危机始于2007年12月。因此，我们将样本期限制在2002年第一季度至2007年第三季度，以避免与两次衰退重叠。在稳健性部分，我们缩短了样本周期，结果仍然相似具体来说，规模等于总资产的自然对数。贷款(存款，CAP)等于贷款总额(存款总额，权益价值)除以总资产。ROA是指资产的回报率我们只在回归中包含交互项，因为我们关注的是这些处理库在应对飓风时增加DLLP的未来绩效改善。未列表的结果表明，当我们仅使用治疗组的样本并分别检查DLLP_Pos对ΔROAt+4和ΔROAt+8的影响时，结果是稳健的我们只考虑飓风之前四个季度的盈余管理，因为在此期间之前的盈余管理可能会受到前期异常拨备的影响。因此，相对于早期，最近向上的盈余管理更有可能在飓风期间被大浴会计逆转我们从沃顿研究数据服务的银行监管数据库中获得了AFS证券的已实现和未实现收益和损失的数据。13未列表的发现表明，在飓风季节前后的三季度和四个季度期间，结果是稳健的《住房抵押贷款披露法》(HMDA)的数据文件提供了有关银行向每个县发放的抵押贷款金额的信息未列表的结果表明，当我们采用总资产、总贷款和资产回报率作为匹配变量时，我们的结果仍然稳健。
{"title":"The effect of natural disasters on big bath earnings management of banks: evidence from the 2005 US hurricane season","authors":"Qiurong Yang, Gang Bai","doi":"10.1080/00014788.2023.2258781","DOIUrl":"https://doi.org/10.1080/00014788.2023.2258781","url":null,"abstract":"AbstractWe investigate the effect of the 2005 US hurricane strikes on big bath earnings management in the banking industry. Using a difference-in-differences approach, we find that banks affected by the hurricanes add more discretionary loan loss provisions (DLLP) after the shock relative to unaffected banks. Further tests suggest that the hurricane-induced DLLP increase is attributable to opportunistic big bath accounting rather than to a precautionary motive. We also show that the effect of the hurricanes on big bath earnings management is more pronounced in banks that were managing earnings upwards more aggressively before the hurricanes.Keywords: big bath earnings managementbankingdiscretionary loan loss provisionsnatural disastersJEL classification: G21M41 AcknowledgementsWe are grateful to Juan Manuel García Lara (the editor) and two anonymous referees for their valuable and constructive suggestions. We also appreciate comments and suggestions from seminar participants at Southwestern University of Finance and Economics.Disclosure statementNo potential conflict of interest was reported by the author(s).Data availability statementThe data that support the findings of this study are available from FEMA and the Statistics on Depository Institutions database of the FDIC. These data were derived via https://www.fema.gov/disasters and https: //www.fdic.gov/bank/statistical/.Notes1 Ng and Roychowdhury (Citation2014) point out that the increase in LLPs can increase a bank’s total regulatory capital under certain conditions. We detail these conditions in Section 4.3.1.2 In Section 3.2, we detail the definition of the treatment group (affected banks) and the control group (unaffected banks).3 Following Schüwer et al. (Citation2019), non-performing loans are measured as total assets past due 90 or more days and still accruing interest. Unreported findings indicate that the results are robust when we compute non-performing loans as the sum of total assets past due 30 days or more and still accruing interest and total assets no longer accruing interest.4 In Section 3.3, we detail the procedure of PSM.5 In Section 3.3, we detail the selection of the sample period.6 Data are acquired via https://www.fdic.gov/bank/statistical/.7 Data are acquired via https://www.fema.gov/disasters.8 According to the National Bureau of Economic Research, the 2001 recession ended in November 2001, and the 2008 financial crisis started in December 2007. Thus, we limit the sample period to Q1 2002–Q3 2007 to avoid the overlap with two recessions. In the robustness section, we shorten the sample period and the results remain similar.9 Specifically, Size equals the natural logarithm of total assets. Loan (Deposit, CAP) equals total loans (total deposits, the value of equity) divided by total assets. ROA is the return on assets.10 We only include the interaction term in our regressions because we focus on future performance improvement of those treatment banks increasing DLLP in ","PeriodicalId":7054,"journal":{"name":"Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135540360","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-07DOI: 10.1080/00014788.2023.2241135
Karen J. De Meyst, E. Cardinaels, Alexandra G. H. L. Van den Abbeele
{"title":"Reducing partner risk: the effect of feedback timing and incentives","authors":"Karen J. De Meyst, E. Cardinaels, Alexandra G. H. L. Van den Abbeele","doi":"10.1080/00014788.2023.2241135","DOIUrl":"https://doi.org/10.1080/00014788.2023.2241135","url":null,"abstract":"","PeriodicalId":7054,"journal":{"name":"Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2023-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41494482","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-08-08DOI: 10.1080/00014788.2023.2227567
Ruichang Lu, Tenghui Wang, Xiaojun Zhang
{"title":"Short selling pressure and tone management: evidence from regulation SHO","authors":"Ruichang Lu, Tenghui Wang, Xiaojun Zhang","doi":"10.1080/00014788.2023.2227567","DOIUrl":"https://doi.org/10.1080/00014788.2023.2227567","url":null,"abstract":"","PeriodicalId":7054,"journal":{"name":"Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2023-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46410196","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-07-29DOI: 10.1080/00014788.2023.2219151
Stephen Daly
The tax system is traditionally understood as being geared primarily, but not exclusively, towards the raising of revenues. Taxes perform distributive and regulatory roles for instance. Furthermore, the tax system can also be engaged for the purpose of providing stability in times of uncertainty and for providing key information to government so that its policies (whether economic, social, health, environmental and so on) can be pursued. With its multivarious capabilities, it would be of little surprise to learn that governments turned to the tax system during the COVID-19 pandemic in order to alleviate the economic consequences of the emergency. The paper sets out to investigate the ways the tax system was used in response to the pandemic. It narrows in on two key findings: that the tax system was instrumental in providing stability and also in providing salient information for government use. A picture of the tax system as being adaptable and resilient is painted. But the key findings of the paper are not made without reservation.
{"title":"Tax systems: adaptability and resilience during a global pandemic","authors":"Stephen Daly","doi":"10.1080/00014788.2023.2219151","DOIUrl":"https://doi.org/10.1080/00014788.2023.2219151","url":null,"abstract":"The tax system is traditionally understood as being geared primarily, but not exclusively, towards the raising of revenues. Taxes perform distributive and regulatory roles for instance. Furthermore, the tax system can also be engaged for the purpose of providing stability in times of uncertainty and for providing key information to government so that its policies (whether economic, social, health, environmental and so on) can be pursued. With its multivarious capabilities, it would be of little surprise to learn that governments turned to the tax system during the COVID-19 pandemic in order to alleviate the economic consequences of the emergency. The paper sets out to investigate the ways the tax system was used in response to the pandemic. It narrows in on two key findings: that the tax system was instrumental in providing stability and also in providing salient information for government use. A picture of the tax system as being adaptable and resilient is painted. But the key findings of the paper are not made without reservation.","PeriodicalId":7054,"journal":{"name":"Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2023-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42638970","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-07-29DOI: 10.1080/00014788.2023.2219157
Roslyn Gamsa
{"title":"‘Access to finance: adaptability and resilience during a global pandemic’ A practitioner view","authors":"Roslyn Gamsa","doi":"10.1080/00014788.2023.2219157","DOIUrl":"https://doi.org/10.1080/00014788.2023.2219157","url":null,"abstract":"","PeriodicalId":7054,"journal":{"name":"Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2023-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45301979","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-07-29DOI: 10.1080/00014788.2023.2219153
T. Beck
Firms’ access to external finance is constrained by information asymmetries between lenders and borrowers, which are inversely related to firm size and economic growth. Pandemic and lockdown measures constituted an extraordinary shock for corporations, including for their funding, mitigated, however, by governments’ fiscal, monetary and regulatory responses. The combined effect of these measures created a virtuous circle between corporates, banks, and sovereigns, avoiding a funding crunch for either and keeping risk premiums at deflated levels. Some of the more recent shocks provide similar justification for government interventions. However, there is a trade-off between government support during tail events and the market distortions that come with such support programmes. The conjecture is that we will continue to see a stronger role for governments during this time of great volatility and a tightening on market-based funding for corporations.
{"title":"Access to finance: adaptability and resilience during a global pandemic","authors":"T. Beck","doi":"10.1080/00014788.2023.2219153","DOIUrl":"https://doi.org/10.1080/00014788.2023.2219153","url":null,"abstract":"Firms’ access to external finance is constrained by information asymmetries between lenders and borrowers, which are inversely related to firm size and economic growth. Pandemic and lockdown measures constituted an extraordinary shock for corporations, including for their funding, mitigated, however, by governments’ fiscal, monetary and regulatory responses. The combined effect of these measures created a virtuous circle between corporates, banks, and sovereigns, avoiding a funding crunch for either and keeping risk premiums at deflated levels. Some of the more recent shocks provide similar justification for government interventions. However, there is a trade-off between government support during tail events and the market distortions that come with such support programmes. The conjecture is that we will continue to see a stronger role for governments during this time of great volatility and a tightening on market-based funding for corporations.","PeriodicalId":7054,"journal":{"name":"Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2023-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44223692","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-07-29DOI: 10.1080/00014788.2023.2219146
R. Hodgkinson
I am very pleased to introduce this 18th issue of the International Accounting Policy Forum (IAPF) – the annual special issue of Accounting and Business Research. Bringing together practitioners and academic researchers continues to be an important purpose of the Forum and the related ICAEW events. The diversity of academic disciplines and the breadth of practitioner experience seen in this year’s issue are particularly striking. The four academic papers that follow are based on presentations at the December 2022 Information for Better Markets conference on The COVID-19 Pandemic: Lessons for the Theory and Practice of Accounting. One legacy of the global pandemic has been that for the third year running, the conference was held exclusively online and reached academics and practitioners from all around the world. In January 2020, the World Health Organisation declared a ‘public health emergency of international concern’ in response to the rapid spread of the COVID-19 virus. The end of the emergency was only declared in May 2023, by which time some seven million deaths had been reported. The virus created not only a health emergency but also an economic emergency as lockdowns prompted a sudden and protracted worldwide economic downturn. The scale and longevity of the pandemic created real concerns, but also some hopes that the societal and economic consequences would be profound and lasting. Early in 2021, when ICAEW began planning the 2022 Information for Better Markets conference, we saw that it could provide an opportunity to explore how the economic shock of COVID-19 had affected the accountancy profession as well as accounting information flows, for example in businesses, financial markets, and tax systems. Recognising that the effects of the pandemic would be studied for many years to come, we asked the academic contributors to the conference to take stock of existing literature on resilience, adaptability, and crisis management, as well as early COVID-specific research, both to draw insights about how things might be done differently in the future, and to identify areas for further research. In the first paper, ‘Accounting for resilience: the role of the accounting profession in promoting resilience’, Layla Branicki, Stephen Brammer, Martina Linnenluecke and David Houghton note that the rising incidence, variety, and severity of extreme events have led to a growing body of research and practice concerned with promoting resilience. The authors provide a
{"title":"Introduction","authors":"R. Hodgkinson","doi":"10.1080/00014788.2023.2219146","DOIUrl":"https://doi.org/10.1080/00014788.2023.2219146","url":null,"abstract":"I am very pleased to introduce this 18th issue of the International Accounting Policy Forum (IAPF) – the annual special issue of Accounting and Business Research. Bringing together practitioners and academic researchers continues to be an important purpose of the Forum and the related ICAEW events. The diversity of academic disciplines and the breadth of practitioner experience seen in this year’s issue are particularly striking. The four academic papers that follow are based on presentations at the December 2022 Information for Better Markets conference on The COVID-19 Pandemic: Lessons for the Theory and Practice of Accounting. One legacy of the global pandemic has been that for the third year running, the conference was held exclusively online and reached academics and practitioners from all around the world. In January 2020, the World Health Organisation declared a ‘public health emergency of international concern’ in response to the rapid spread of the COVID-19 virus. The end of the emergency was only declared in May 2023, by which time some seven million deaths had been reported. The virus created not only a health emergency but also an economic emergency as lockdowns prompted a sudden and protracted worldwide economic downturn. The scale and longevity of the pandemic created real concerns, but also some hopes that the societal and economic consequences would be profound and lasting. Early in 2021, when ICAEW began planning the 2022 Information for Better Markets conference, we saw that it could provide an opportunity to explore how the economic shock of COVID-19 had affected the accountancy profession as well as accounting information flows, for example in businesses, financial markets, and tax systems. Recognising that the effects of the pandemic would be studied for many years to come, we asked the academic contributors to the conference to take stock of existing literature on resilience, adaptability, and crisis management, as well as early COVID-specific research, both to draw insights about how things might be done differently in the future, and to identify areas for further research. In the first paper, ‘Accounting for resilience: the role of the accounting profession in promoting resilience’, Layla Branicki, Stephen Brammer, Martina Linnenluecke and David Houghton note that the rising incidence, variety, and severity of extreme events have led to a growing body of research and practice concerned with promoting resilience. The authors provide a","PeriodicalId":7054,"journal":{"name":"Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2023-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45563132","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-07-29DOI: 10.1080/00014788.2023.2219152
Caroline Miskin
{"title":"‘Tax systems: adaptability and resilience during a global pandemic’ A practitioner view","authors":"Caroline Miskin","doi":"10.1080/00014788.2023.2219152","DOIUrl":"https://doi.org/10.1080/00014788.2023.2219152","url":null,"abstract":"","PeriodicalId":7054,"journal":{"name":"Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2023-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48897137","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-07-29DOI: 10.1080/00014788.2023.2219148
L. Branicki, Stephen Brammer, M. Linnenluecke, David J. Houghton
The rising incidence, variety and severity of extreme events that threaten both business and society has increased interest in promoting resilience to such threats. However, relatively little research has explored the potential contributions of the accounting profession to resilience at multiple scales and levels of analysis. To address the need for additional research, in this study we explore the contributions of the accounting profession to resilience during COVID-19. Drawing on a unique database of over 26,000 social media posts by the two principal professional accounting bodies in the UK context (ICAEW, ACCA) and UK-based accounts of the ‘Big 4’ professional services firms (PwC, Deloitte, EY, and KPMG), as well as user-engagement with those posts, we highlight processes by which the accounting profession encouraged resilience among individuals, organisations, and wider society. Our findings illuminate how the accounting profession contributed to resilience by supporting more effective crisis responses (by sharing trusted advice and shaping policy responses), better crisis adaptation (by crafting post-crisis futures and empowering the profession), and improved future crisis anticipation (by challenging complacency and being good citizens). We build on our analysis to propose a new framework characterising pathways for professions contributing to resilience.
{"title":"Accounting for resilience: the role of the accounting professions in promoting resilience","authors":"L. Branicki, Stephen Brammer, M. Linnenluecke, David J. Houghton","doi":"10.1080/00014788.2023.2219148","DOIUrl":"https://doi.org/10.1080/00014788.2023.2219148","url":null,"abstract":"The rising incidence, variety and severity of extreme events that threaten both business and society has increased interest in promoting resilience to such threats. However, relatively little research has explored the potential contributions of the accounting profession to resilience at multiple scales and levels of analysis. To address the need for additional research, in this study we explore the contributions of the accounting profession to resilience during COVID-19. Drawing on a unique database of over 26,000 social media posts by the two principal professional accounting bodies in the UK context (ICAEW, ACCA) and UK-based accounts of the ‘Big 4’ professional services firms (PwC, Deloitte, EY, and KPMG), as well as user-engagement with those posts, we highlight processes by which the accounting profession encouraged resilience among individuals, organisations, and wider society. Our findings illuminate how the accounting profession contributed to resilience by supporting more effective crisis responses (by sharing trusted advice and shaping policy responses), better crisis adaptation (by crafting post-crisis futures and empowering the profession), and improved future crisis anticipation (by challenging complacency and being good citizens). We build on our analysis to propose a new framework characterising pathways for professions contributing to resilience.","PeriodicalId":7054,"journal":{"name":"Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2023-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41829543","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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