Download or read book Internal Control Effectiveness and the Associated Characteristics of U S Listed Chinese Firms written by Raymond Reed Baker and published by . This book was released on 2012 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Internal Control Effectiveness and the Associated Characteristics of U S Listed Chinese Firms written by Raymond Reed Baker and published by Open Dissertation Press. This book was released on 2017-01-26 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "Internal Control Effectiveness and the Associated Characteristics of U.S. Listed Chinese Firms" by Raymond Reed, Baker, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: A recent and rapid increase in U.S. listed Chinese firms has occurred since the 1990's, with at least 495 firms attempting to raise capital on U.S. listing boards. This means of fundraising has allowed investors to participate in the opportunities provided by China's growth, while enjoying the perceived benefits of the U.S. regulatory oversight. One such regulatory requirement is compliance with the provisions of the Sarbanes Oxley Act of 2002, which is largely focused on the internal controls of publically listed firms. This study examines the internal control effectiveness and associated characteristics of 198 U.S. listed Chinese firms, for the fiscal year 2009. With the use of Sarbanes Oxley Section 302 data, this study provides support for a number of previous studies and contributes new findings to the academic literature relating to audit committee financial expertise and CEO duality. This study also provides interesting findings regarding the impact of regulatory environments, when the sample listing type is divided into direct listed firms and cross listed firms. Specifically, this study finds that with U.S. listed Chinese firms, higher percentages of audit committee accounting, supervisor and user financial expertise are positively associated with internal control effectiveness. This study next finds that for direct listed firms, only higher percentages of audit committee accounting and user financial expertise are positively associated with internal control effectiveness. Finally, this study finds that for direct listed firms, CEO duality is negatively associated with internal control effectiveness. DOI: 10.5353/th_b4786943 Subjects: Business enterprises - China - Accounting
Download or read book Shades of Gray written by Raymond Reed Baker and published by . This book was released on 2018 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chinese firms listing in the U.S. via reverse mergers (CRMs) have dominated prior media, regulator and research attention. Yet CRMs have effectively ceased, leaving Chinese firms listing via initial public offerings (CIPOs) as the relevant remaining class of Chinese firms listing on U.S. exchanges. This study documents salient differences between CIPOs, CRMs and U.S.-domiciled U.S.-listed firms by examining Sarbanes-Oxley Act Section 302 and 404(b) ineffective internal control (IIC) and related disclosures that underlie financial reporting quality, with three main sets of findings. First, both CIPOs and CRMs are more likely to report IICs than U.S.-domiciled counterparts. Second, both CIPOs and CRMs are more likely to under-report IICs than U.S.-domiciled counterparts (CIPO for only 302 disclosures). Third, CIPOs are both less likely to report and less likely to under-report IICs than CRMs. These findings clarify and recast prior characterizations of the internal controls underlying the reporting quality of Chinese U.S.-listed firms.
Download or read book Red Flag Characteristics of Fraudulent U S Listed Chinese Companies written by Thian Lim and published by . This book was released on 2015 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: The American Institute of Certified Public Accountants (AICPA, 2002) No 99: Consideration of Fraud in a Financial Statement Audit (SAS 99). SAS 99 describes fraud as a purposeful act that results in a material misstatement in financial statements. We performed a literature review and discussed the attributes of 250 US listed Chinese firms such as political connections, reverse merger, location in China, auditor's reputation and corporate governance in order to build a model to predict red flags. We find that red flag companies have these characteristics. (1) U.S listing via reverse merger. (2) earning management, (3) poor corporate governance. (4) hire small and obscure audit firms, investment banks and law firms to assist in their effort to gain listing. (5) lack accounting standards and (6) political connection. We conclude that US listed Chinese firms displayed these red flags that can identify their potential to commit fraud and misrepresent financial information.
Download or read book Capitalizing China written by Joseph P. H. Fan and published by University of Chicago Press. This book was released on 2013 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: La 4e de couverture indique : "Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement of all senior personnel in all regulatory agencies, all state-owned enterprises (SOEs), and virtually all major financial institutions state-owned enterprises (SOEs), and senior Party positions in all but the smallest non-SOE enterprises, retains sole possession of Lenin's Commanding Heights. The chapters in this volume examine China's high savings rate, banking system, financial markets, financial regulations, corporate governance, and public finances; and consider policy alternatives the CCP might consider if its goal is China's elevation into the ranks of high income countries."
Download or read book The Audit Committee Performing Corporate Governance written by Laura F. Spira and published by Springer Science & Business Media. This book was released on 2007-05-08 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do we need to understand audit committees? The Cadbury Committee recommended that UK companies should adopt them in response to financial scandals that have stemmed from dubious financial reporting practices. In other countries, similar commissions have made similar recommendations and audit committees are now a common institution. However, many practitioners doubt whether an audit committee really does much to ensure the integrity of a firm's financial statements because, as outsiders, members don't know enough to dig deeply beneath the numbers. The Audit Committee: Performing Corporate Governance argues that such criticism overlooks the ceremonial function of these committees. The audit committee is an arena where members can form and strengthen shifting and fragmentary networks with each other and with the external auditors. Within these networks, both consensus and independence are demonstrated, generating comfort, which legitimises the company and maintains its access to external sources of capital. The audit committee is a key part of the corporate governance structure within an organisation. Many in the UK have been patched together to meet regulatory requirements and their operation is poorly understood because few people other than their members have access to their deliberations. In this account of the world of audit committees the practitioner will find the ethnographical perspectives on ceremonial performance, consensus, independence, and comfort both familiar and different. It's like looking at a photograph of something commonplace from an unusual angle or through a strange-shaped lens.
Download or read book China s Influence and American Interests written by Larry Diamond and published by Hoover Press. This book was released on 2019-08-01 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: While Americans are generally aware of China's ambitions as a global economic and military superpower, few understand just how deeply and assertively that country has already sought to influence American society. As the authors of this volume write, it is time for a wake-up call. In documenting the extent of Beijing's expanding influence operations inside the United States, they aim to raise awareness of China's efforts to penetrate and sway a range of American institutions: state and local governments, academic institutions, think tanks, media, and businesses. And they highlight other aspects of the propagandistic “discourse war” waged by the Chinese government and Communist Party leaders that are less expected and more alarming, such as their view of Chinese Americans as members of a worldwide Chinese diaspora that owes undefined allegiance to the so-called Motherland.Featuring ideas and policy proposals from leading China specialists, China's Influence and American Interests argues that a successful future relationship requires a rebalancing toward greater transparency, reciprocity, and fairness. Throughout, the authors also strongly state the importance of avoiding casting aspersions on Chinese and on Chinese Americans, who constitute a vital portion of American society. But if the United States is to fare well in this increasingly adversarial relationship with China, Americans must have a far better sense of that country's ambitions and methods than they do now.
Download or read book Corporate Governance Research on Listed Firms in China written by T. J. Wong and published by Now Publishers. This book was released on 2016-03-07 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance Research on Listed Firms in China: Institutions, Governance and Accountability reviews prior studies and proposes new research directions for the corporate governance of China's listed firms. The primary focus is to investigate the underlying relation between China's institutional environment and its listed firms' corporate governance, and show how formal and informal governance mechanisms actually work within these firms. The monograph is organized as follows: after an introduction, Section 2 provides a discussion of the key unique institutional features in China. Section 3 reviews prior research on the effects of government ownership and control on firm performance, managerial turnover and compensation, and accounting. A number of research directions are proposed in Section 4, and Section 5 concludes the monograph.
Download or read book Corporate Governance Models and Applications in Developing Economies written by Agyemang, Otuo Serebour and published by IGI Global. This book was released on 2019-08-30 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Virtually all developing, transitioning, and emerging-market economies are faced with one pressing concern at the moment: how to establish the groundwork for long-term economic performance and competitiveness in a diverse market. However, without the existence of good corporate governance in these economies, small enterprise will cease to exist in developing countries. Corporate Governance Models and Applications in Developing Economies is a collection of innovative research that contributes to the better understanding of corporate governance models by documenting the structures, principles, tenets, case studies, and applications for the development of good business practices in developing economies. While highlighting topics including risk management, financial distress, and insider trading, this book is ideally designed for corporate managers, executives, economists, strategists, investors, shareholders, students, researchers, academicians, business professionals, and policymakers.
Download or read book People s Republic of China written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-04-05 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: A detailed assessment report on the observance of China’s compliance of Basel Core Principles for effective banking supervision is presented. Regulation and supervision of China’s banking system has made impressive progress in the past few years, led by an activist, forward-looking regulator, the China Banking Regulatory Commission, with a clear safety and soundness mandate that has been supported by banks and by the State. The macroeconomic environment is characterized by rapid growth, with concerns about overheating and asset price overvaluation.
Download or read book Beyond Internal Control over Financial Reporting written by Daoguang Yang and published by Taylor & Francis. This book was released on 2024-02-06 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: By examining two different modes of internal control and the fundamentals of risk management, this book analyses the role of internal control in financing, investment, profit distribution, and corporate strategies through China's experience. In doing so, it confirms the effectiveness and superiority of internal control over operation and management. The book compares the various internal control methods used in China and the USA, namely, operation and management-oriented versus financial reporting-oriented approaches. It also discusses the differences in corporate risk attitudes and behaviours under the two approaches. The author then proposes the hyper-correction hypothesis and the trimming hypothesis. Empirical findings regarding corporate cash policy, mergers and acquisitions, tax avoidance, and diversification strategy reveal that internal control in China does not result in undue risk aversion but instead manages enterprise risk within a reasonable capacity. These results support the trimming hypothesis and demonstrate that internal control is a useful risk management tool. The title will appeal to students, academics, and accounting professionals interested in internal control (risk management), accounting, auditing and corporate finance, regulation and governance.
Download or read book Powering the Digital Economy Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa and published by International Monetary Fund. This book was released on 2021-10-22 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Download or read book Communities in Action written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-04-27 with total page 583 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States, some populations suffer from far greater disparities in health than others. Those disparities are caused not only by fundamental differences in health status across segments of the population, but also because of inequities in factors that impact health status, so-called determinants of health. Only part of an individual's health status depends on his or her behavior and choice; community-wide problems like poverty, unemployment, poor education, inadequate housing, poor public transportation, interpersonal violence, and decaying neighborhoods also contribute to health inequities, as well as the historic and ongoing interplay of structures, policies, and norms that shape lives. When these factors are not optimal in a community, it does not mean they are intractable: such inequities can be mitigated by social policies that can shape health in powerful ways. Communities in Action: Pathways to Health Equity seeks to delineate the causes of and the solutions to health inequities in the United States. This report focuses on what communities can do to promote health equity, what actions are needed by the many and varied stakeholders that are part of communities or support them, as well as the root causes and structural barriers that need to be overcome.
Download or read book Capitalism with Chinese Characteristics written by Yasheng Huang and published by Cambridge University Press. This book was released on 2008-09-01 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents a story of two Chinas – an entrepreneurial rural China and a state-controlled urban China. In the 1980s, rural China gained the upper hand. In the 1990s, urban China triumphed. In the 1990s, the Chinese state reversed many of its rural experiments, with long-lasting damage to the economy and society. A weak financial sector, income disparity, rising illiteracy, productivity slowdowns, and reduced personal income growth are the product of the capitalism with Chinese characteristics of the 1990s and beyond. While GDP grew quickly in both decades, the welfare implications of growth differed substantially. The book uses the emerging Indian miracle to debunk the widespread notion that democracy is automatically anti-growth. As the country marked its 30th anniversary of reforms in 2008, China faces some of its toughest economic challenges and substantial vulnerabilities that require fundamental institutional reforms.
Download or read book The Routledge Companion to Auditing written by David Hay and published by Routledge. This book was released on 2014-09-15 with total page 387 pages. Available in PDF, EPUB and Kindle. Book excerpt: Auditing has been a subject of some controversy, and there have been repeated attempts at reforming its practice globally. This comprehensive companion surveys the state of the discipline, including emerging and cutting-edge trends. It covers the most important and controversial issues, including auditing ethics, auditor independence, social and environmental accounting as well as the future of the field. This handbook is vital reading for legislators, regulators, professionals, commentators, students and researchers involved with auditing and accounting. The collection will also prove an ideal starting place for researchers from other fields looking to break into this vital subject.
Download or read book Managing Organizational Culture for Effective Internal Control written by Jan A. Pfister and published by Springer Science & Business Media. This book was released on 2009-07-07 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: In times of economic and financial crises, the content of this book rings true. Drawing from interviews with executives, senior managers and/or auditors from renowned companies (eBay, Google, Hewlett Packard, Intel, Levi Strauss & Co., Microsoft, Novartis and many others) and theory from fields of sociology and social psychology, this research study provides an understanding of how "tone at the top" imprints on an organization and why that imprint works. More specifically, it discusses how managers' principles and practices can actively shape an open-minded culture that enhances effective internal control.
Download or read book Big Data and Global Trade Law written by Mira Burri and published by Cambridge University Press. This book was released on 2021-07-29 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: An exploration of the current state of global trade law in the era of Big Data and AI. This title is also available as Open Access on Cambridge Core.
