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Book part
Publication date: 30 April 2008

Shaw Chen, Bing-Xuan Lin, Yaping Wang and Liansheng Wu

The effectiveness of corporate governance is a major factor in forecasting firm performance. We examine the relationships among cross-listing, corporate governance and…

Abstract

The effectiveness of corporate governance is a major factor in forecasting firm performance. We examine the relationships among cross-listing, corporate governance and firm performance for a sample of Chinese cross-listed companies. We show that cross-listed firms display higher overall quality of corporate governance compared to non-cross-listed firms. Consequently better corporate governance results in higher operating performance. Our results support the bonding hypothesis of cross-listing. Furthermore, we also illustrate that the cross-listing status encapsulates the higher quality of corporate governance that leads to higher operating performance. When forecasting performance of cross-listing companies, it is therefore important to recognize the substitute effect between cross-listing and corporate governance.

Details

Advances in Business and Management Forecasting
Type: Book
ISBN: 978-0-85724-787-2

Content available
Book part
Publication date: 30 April 2008

Abstract

Details

Advances in Business and Management Forecasting
Type: Book
ISBN: 978-0-85724-787-2

Article
Publication date: 21 October 2021

Ailing Pan, Qian Wu and Jingwei Li

This paper aims to study the impact of external fairness of executive compensation on M&A premium, and examine the moderate role of institutional investors. The high M&A…

Abstract

Purpose

This paper aims to study the impact of external fairness of executive compensation on M&A premium, and examine the moderate role of institutional investors. The high M&A premium is the main factors that induce the huge impairment of listed companies’ goodwill and the plummeting performance. Executives are the decision-makers of M&As, and their decision-making process is inevitably affected by the psychological factors. In recent years, institutional investors have become an important external force that can affect the governance of listed companies.

Design/Methodology/Approach

The authors use M&A data of listed companies from 2008 to 2018 and use OLS regression to test the relationship between executive compensation fairness and M&A premium.

Findings

The results show that the lower the external fairness of executive compensation, the greater the M&A premium. Institutional investors can effectively reduce the impact of external compensation unfairness on M&A premiums. The mechanism tests show that executives' psychological perception of fairness induced by external unfairness reduces their motivation to work and prompts them to use high premium to seek alternative compensation incentives. Further examinations of executive characteristics and corporate characteristics show that the role of external unfairness in executive compensation in driving M&A premiums is more pronounced in companies with longer executive tenure, weaker executive reputation incentives and private property.

Originality/Value

This paper enriches the research on the pre-factors of M&A premiums from the perspective of executives’ psychological perception of fairness, provides evidence that institutional investors play a positive governance role and provides decision-making references for companies to take corresponding measures to reduce M&A premium risks.

Details

Nankai Business Review International, vol. 13 no. 1
Type: Research Article
ISSN: 2040-8749

Keywords

Article
Publication date: 18 September 2019

Qianqian Yuan, Liansheng Larry Tang, Feng Yang, Diane E. Brandt and Leighton Chan

This paper aims to estimate the performance of the social security administration (SSA) in dealing with disability benefits applications in American.

Abstract

Purpose

This paper aims to estimate the performance of the social security administration (SSA) in dealing with disability benefits applications in American.

Design/methodology/approach

The authors propose a multi-stage data envelopment analysis (DEA) method to analyze the efficiency of 167 hearing offices (HOs) to find the best performed HOs and inefficient ones and detect total improvement of inefficient and weak efficient offices.

Findings

The results show that totally 299,711 applications were processed and more applications will be processed if all offices can work efficiently. To the best of the authors’ knowledge, this paper is the first one to analyze the performance of SSA HOs using the multi-stage DEA method.

Originality/value

To the best of the authors’ knowledge, this paper is the first one to analyze the performance of SSA HOs using the multi-stage DEA method.

Article
Publication date: 1 June 2000

Meng Liansheng

This article discusses the development of document database construction in China from the end of the 1970s, including management systems, operation mechanisms of Chinese…

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Abstract

This article discusses the development of document database construction in China from the end of the 1970s, including management systems, operation mechanisms of Chinese document database construction in the 1990s, as well as the main products and condition of various document databases.

Details

The Electronic Library, vol. 18 no. 3
Type: Research Article
ISSN: 0264-0473

Keywords

Article
Publication date: 2 December 2019

Prihatnolo Gandhi Amidjaya and Ari Kuncara Widagdo

The purpose of this paper is to find empirical evidence of ownership structure and corporate governance (CG) effect on sustainability reporting in Indonesian listed banks…

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Abstract

Purpose

The purpose of this paper is to find empirical evidence of ownership structure and corporate governance (CG) effect on sustainability reporting in Indonesian listed banks. The study also tries to describe sustainability reporting disclosure practice.

Design/methodology/approach

The authors analyze balanced panel data with a total of 155 observations from 2012 to 2016 using panel data regression.

Findings

The findings present empirical evidence that sustainability reporting in Indonesian listed banks is still low. CG, foreign ownership and family ownership positively influence sustainability reporting. Further, the authors find that family ownership weakens the effect of CG while foreign ownership has no significant moderating role. Digital banking is not a significant determinant and OJK sustainable finance roadmap is evidenced to have no impression on bank intention to produce sustainability report.

Research limitations/implications

The use of content analysis method for variable measurement may contain subjectivity substance from the researcher’s perspective. Further research works need confirmation from independent parties with expertise in this subject. Further research works can also implement the mixed method by combining quantitative and qualitative approach to gain better quality.

Practical implications

The result of this study underlines the need for sustainability reporting improvement, followed by suggestions for Indonesian banking regulator.

Originality/value

This paper provides a description of Indonesian banks sustainability reporting and evidence of CG and controlling owner’s role in its practice. The research presents a novelty, examining the role of digital banking as determinant.

Details

Journal of Applied Accounting Research, vol. 21 no. 2
Type: Research Article
ISSN: 0967-5426

Keywords

Article
Publication date: 19 August 2021

Fouad Jamaani and Manal Alidarous

This study aims to examine the short- and long-lived effects of the International Financial Reporting Standards (IFRS) mandate on the quality of reporting information of…

Abstract

Purpose

This study aims to examine the short- and long-lived effects of the International Financial Reporting Standards (IFRS) mandate on the quality of reporting information of initial public offering (IPO) firms in emerging market economies.

Design/methodology/approach

The study used several difference-in-differences models for a sample comprising 102 Saudi Arabian IPO firms for 2003–2017.

Findings

It found that mandating the application of the IFRS had a significant short-lived but no long-lived effect on IPO firms’ information asymmetry. When information asymmetry was high such as in the primary market, the IFRS succeeded in alleviating the underpricing of IPO firms. Conversely, in the secondary market, with negligible information asymmetry, the IFRS was not beneficial for the long-term performance of companies in the IPO market.

Originality/value

This study is the first of its kind in the emerging market context and has important implications for IPO investors and analysts, IFRS-IPO researchers and policymakers in emerging economies. The results empirically confirmed that the IFRS mandate had solely a short-lived effect and no long-lasting impact, on the problem of asymmetric information in the IPO market. The effectiveness of the IFRS in producing quality financial reporting is contingent upon large-scale information asymmetry and vanishes when investors and analysts have abundant information about listed firms, even for emerging economies such as Saudi Arabia.

Article
Publication date: 6 March 2017

Jinyu Yang, Bin Liu and Lihua Yuan

This paper comes to the point from the tax competition of local government in investment promotion and capital introduction. This paper aims to empirically examine the…

Abstract

Purpose

This paper comes to the point from the tax competition of local government in investment promotion and capital introduction. This paper aims to empirically examine the internal mechanism of enterprises obtaining land resources from local government and its resulting equity investment increase and economic consequences of overinvestment.

Design/methodology/approach

The data of China’s A-share listed companies from 2007 to 2014 were used to test the relationship between the increase in enterprise equity investment and the acquisition of land resources and overinvestment. The descriptive statistics, correlation analysis and least squares linear regression were used to solve the above question.

Findings

One of the reasons for the enterprise equity increase is to obtain scarce land resources. The enterprise acquisition for land resources leads to overinvestment. The equity investment increase from obtaining land resources will further stimulate enterprise group to overinvest.

Research limitations/implications

The authors could not get the actual data of land that subsidiaries have obtained directly. In this research, the authors get the data using consolidated statements and subsidiary statements indirectly.

Practical implications

The results make contributions to the influencing factors and economic consequence of the enterprise investment structural deviation.

Social implications

It provides reference to optimize the “interaction” relationship between government and enterprises.

Originality/value

It identified the “dual-channel” conduction mechanism between land resource acquisition and enterprise overinvestment.

Details

Nankai Business Review International, vol. 8 no. 1
Type: Research Article
ISSN: 2040-8749

Keywords

Article
Publication date: 21 November 2022

Stavros Degiannakis, George Giannopoulos, Salma Ibrahim and Bjørn N. Jørgensen

The authors propose an alternative robust technique to test for discontinuities in distributions and provide consistent evidence of discontinuities around zero for both…

Abstract

Purpose

The authors propose an alternative robust technique to test for discontinuities in distributions and provide consistent evidence of discontinuities around zero for both scaled and unscaled earnings levels and changes. The advantage of the proposed test is that it does not rely on arbitrary choice of bin width choices.

Design/methodology/approach

To evaluate the power of the test, the authors examine the density function of non-discretionary earnings and detect no evidence of discontinuities around zero in levels and changes of these non-discretionary earnings. As robustness, the authors use pre-managed earnings excluding accrual and real manipulation and find similar evidence.

Findings

The finding using our technique support the Burgstahler and Dichev (1997) interpretation on earnings management, even for smaller sample sizes and reject the theory that discontinuities arise from scaling and sampling methods.

Originality/value

The study provides an overview of those studies that support and those that oppose using “testing for discontinuities” as a way to examine earnings management. The authors advance the literature by providing an alternative methodology supporting the view that the kink in the distribution represents earnings management.

Details

Journal of Accounting Literature, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0737-4607

Keywords

Article
Publication date: 3 May 2016

Dominik Dienes, Remmer Sassen and Jasmin Fischer

The purpose of this paper is to systematise the research field of sustainability reporting. The authors contribute to closing this research gap and, on the basis of this…

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Abstract

Purpose

The purpose of this paper is to systematise the research field of sustainability reporting. The authors contribute to closing this research gap and, on the basis of this systematisation, address the research question of what are the drivers of sustainability reporting.

Design/methodology/approach

The paper systematically reviews existing studies and analyses drivers of sustainability reporting using a qualitative approach. The authors intend to demonstrate and discuss the wide range of approaches used in literature.

Findings

The review suggests that firm size, media visibility and ownership structure are the most important drivers of the disclosure of sustainability reports, while corporate governance only seems to have an influence on the existence of audit or sustainability committees. In contrast, other determinants such as profitability, capital structure, firm age or board composition as an indicator of corporate governance do not show a clear tendency.

Originality/value

The authors systemise the research field related to sustainability reporting to give an overview of the current research landscape that is not influenced by environmental or social reporting and discuss the identified determinants and the related variables. This results in a comprehensive report of what is known and unknown about the questions addressed in the systematic review.

Details

Sustainability Accounting, Management and Policy Journal, vol. 7 no. 2
Type: Research Article
ISSN: 2040-8021

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