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This paper examines the impact of state control on stock price crash risk given whether and how ownership structure affects stock price crash risk is relatively underexplored.

The sample includes 2,285 Chinese firms listed in the Shanghai and Shenzhen Stock Exchanges. Panel data is used for conducting the analysis and endogeneity is addressed with instrumental variable estimation and by testing how stock price crash risk is affected when the ultimate controller changes from a private-owned company to a state-owned enterprise.

The authors find that state control is negatively associated with future stock price crash risk. The mechanism analysis shows that state control reduces stock price crash risk through the implementation of conservative corporate policies. Furthermore, the impact of state control is more pronounced with more intensive state involvement, e.g. in strategic industries and when a company's ultimate controller is a non-corporate government agency or the central government.

This paper enriches the literature on the controversy of the role of state control and the results of this study highlight the importance of the conservatism of state control on reducing stock return tail risk. The authors also add to the literature on the importance of the policy-risk sharing effect of state ownership.

Employing the anti-corruption campaign as an exogenous political shock, this paper examines how political intervention shapes the impact of financial expert CEOs on firm investment decisions.

This paper uses a sample of 2,808 Chinese firms listed in the Shanghai and Shenzhen Stock Exchanges from 2003 to 2016. Panel data is used for conducting the analysis controlling for firm, industry, and year fixed effects.

The authors found that CEOs with financial expertise are sensitive to political intervention when making investment decisions. First, financial expert CEOs spend more on R&D expenditure in private-owned companies and they are associated with less R&D expenditure in state-owned enterprises (SOEs). Second, financial expert CEOs are associated with higher investment expenditure in general, but they become less likely to invest more in the post-anti-corruption period. The reduction in investment expenditure due to the anti-corruption campaign is more pronounced in SOEs than in private-owned companies. Third, the anti-corruption campaign promotes R&D investment in general, but in SOEs, expert CEOs tend to be less likely to invest more on R&D after the anti-corruption shock.

This paper enriches the growing literature on the impact of political intervention and the role of the anti-corruption campaign on corporate behaviour.

The authors examine the influence of powerful political corporate appointments on the usage of firm bribery channels. Party Secretaries within Chinese state-owned enterprises (SOEs) may simultaneously hold top management positions, thereby endowing powerful firm-level decision rights on those appointees, hereafter referred to as powerful dual role Party Secretaries.

This study employs panel data analysis with industry and year fixed effects. The authors use a sample of 1,143 Chinese SOEs listed on the Shanghai and Shenzhen Stock Exchanges from 2004 to 2015.

The authors find that powerful dual role Party Secretaries are associated with greater bribery channel usage. Following the ongoing anticorruption campaign, SOEs with the powerful appointments significantly reduce their usage of both transparent (entertainment and travel costs) and opaque bribery (abnormal management expenses) channels. However, in general, Chinese SOEs respond to the anticorruption shock by switching from the more transparent to the opaquer bribery channel.

The authors contribute to the ongoing debate of politicians on corporate boards by examining the relatively unexplored area of government appointed top management and their influence on bribery at the firm level.

The purpose of this paper is to understand the natural wind field characteristics of the tunnel entrance section and analyzing the aerodynamic performance of high-speed railway trains (HSRTs) under natural winds.

Three typical tunnel entrance section sites, namely, tunnel–bridge in a dry canyon (TBDC), tunnel–bridge in a river canyon (TBRC) and tunnel–flat ground (TF), are selected to conduct a continuous wind field measurement. Based on the measured wind characteristics, the natural winds of the TBDC and TF sites are reconstituted and imported into the two corresponding full-scale computational fluid dynamics models. The aerodynamic loads of the HSRT running on TBDC and TF with reconstituted winds are simply analyzed.

The von Kármán spectrum can be used to describe the wind field at the tunnel entrance section. In the reconstituted natural wind condition, a time-varying feature of wind speed distribution and leeward side vortex around the HSRT caused by the wind speed fluctuation is found. The fluctuating amplitude of aerodynamic loads at the TBDC infrastructure is up to 97.9% larger than that at the TF infrastructure.

The natural wind characteristics at tunnel entrance sections on the high-speed railway are first measured and analyzed. A numerical reconstitution scheme considering the temporal and spatial variation of natural wind speed is proposed and verified based on field measurement results. The aerodynamic performance of an HSRT under reconstituted natural winds is first investigated.

The purpose of this paper is to investigate whether audit opinions of listed firms in China vary systematically with the political connections of the firm’s chief executive officer (CEO). Prior literature only shows the importance of political influence to auditor choice and audit quality.

A politically connected firm is defined as a firm in which the CEO has a political background. The authors use a “difference-in-difference” model to control for self-selection problems.

The authors find that the likelihood of receiving a favourable opinion in the subsequent period is positively associated with a CEO’s political connections. This positive association is stronger with CEOs connected to local government within the same region. The authors further find that the CEO’s political connections have more influence on favourable audit opinions in non-state-owned enterprises (non-SOEs) in a less developed and lower investor protection region. The influence is also less significant in the regions where there are more non-state-owned or foreign banks and where there are greater penalties for political corruption and relationship-based contracting.

The study complements and extends the existing literature on the role of political connections in the economy by providing evidence on the effect of a CEO’s political connections on audit opinions. The authors extend the research on auditing in emerging markets by explicitly accounting for unique institutional and market factors in China. They explore audit quality by observing how audit opinions are directly shaped by political and institutional factors.

This literature review aims to portray the thematic landscape of the Pacific Accounting Review (PAR) from 2013 to 2023. This paper also synthesises the special issues in PAR and identifies the main research streams that facilitate contemplating the dialogic interactions between PAR and real-world challenges. Furthermore, this paper aligns these streams with the emerging concerns in Sustainable Development Goals (SDGs) and technological disruptions to propose impactful future directions for publications in PAR.

This review adopts bibliometric analysis to establish the main research streams and objective measures for directing future publications. This paper acquires the data of 310 PAR articles from the Web of Science and ensure the data integrity before the analysis. Based on this technique, this paper also analyses PAR’s productivity, authorship and local and global impacts.

Our bibliometric analysis reveals three key research streams: (1) ESG practices and disclosures, (2) informal institutions in accounting and (3) accounting in transition. This finding affirms PAR’s relevance to real-world accounting challenges. Using a thematic map, this paper portrays the current state of PAR’s topics to identify potential directions for future publications. Further, this paper proposes three future paths for PAR: (1) the research agenda for non-financial reporting, (2) research relating to and from diverse countries considering both formal and informal contemporary contextual factors and (3) the future of the evolving accounting profession.

This study adds value to the existing PAR reviews by extending our knowledge with the latest publications, demonstrating an objective and replicable approach, and offering future directions for PAR publications.

The purpose of this paper is to look at organizational culture and knowledge sharing, and to explore how a leader fosters a culture of knowledge sharing in an information organization.

The literature survey is used. It indicates that little is known about how to foster a culture of knowledge sharing from a leadership perspective in an information organization.

This study finds that the main approaches that a leader need to use to foster a culture of knowledge sharing are to set the mission, short-term, middle-term and long-term goals and objectives of fostering a culture of knowledge sharing, master as many leadership styles as possible, adjust and choose a leadership style that is appropriate to fostering a culture of knowledge sharing in a given situation, lead by example, develop messaging, make a communication plan, reward and recognize knowledge-sharing behaviors and make knowledge management fun.

The limitation is that this study is solely focused on the literature survey and opinions.

This paper provides a useful overview of the approaches used to foster a culture of knowledge sharing in an information organization.

The views, approaches and suggestions will be useful and valuable to improve the success of knowledge sharing in information organizations in the digital age.

This study examines the impact of China’s mixed-ownership reform on the innovation of non-state-owned acquirers, with a particular focus on the impact on firms with high financing constraints, low-quality accounting information or less tangible assets.

We use a proprietary dataset of firms listed on the Shanghai and Shenzhen Stock Exchanges to investigate the impact of mixed ownership reform on non-state-owned enterprise (non-SOE) innovation. We employ regression analysis to examine the association between mixed ownership reform and firm innovation.

The study finds that non-state-owned firms can improve innovation by acquiring equity in state-owned enterprises (SOEs) under the reform. Eased financing constraints, lowered financing costs, better access to tax incentives or government subsidies, lowered agency costs, better accounting information quality and more credit loans are underlying the impact. Additionally, cross-ownership connections amongst non-SOE executives and government intervention strengthen the impact, whilst regional marketisation weakens it.

This study adds to the literature on the association between mixed ownership reform and firm innovation by focussing on the conditions under which this impact is stronger. It also sheds light on the policy implications for SOE reforms in emerging economies.