Download or read book Essays on Accounting Information Quality in China written by Lijuan Xiao and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays in Chinese Accounting written by Cheng Zeng and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this thesis, I examine financial reporting issues in the Chinese context, with a particular focus on the effect of political forces. The thesis consists of three essays. In the first essay, I examine whether the earnings properties and share price anticipation of earnings of Chinese firms changed following the mandatory adoption of Chinese IFRS in 2007. Using a set of IFRS "early adopters" as a control group, I find that the earnings persistence and other measures of earnings properties, among the treatment group of firms adopting Chinese IFRS in 2007, do not change significantly. However, I do find that share price anticipation of earnings improves for the treatment group relative to the control group, consistent with the improved transparency associated with Chinese IFRS adoption making it easier for investors to forecast future earnings. Particularly, I find that the improvement in the share price anticipation of earnings is confined to firms that are not state controlled or subsidized, and so largely rely on capital markets to supply most of their financial needs. In the second essay, I examine the value relevance of government subsidies for Chinese listed companies. My exploration of the valuation consequences of state support is structured around three questions. First, are the government subsidies received by Chinese listed companies value relevant? Second, does the value relevance of government subsidies depend on the purpose for which the subsidies are used? Third, does the value relevance of government subsidies depend on the channel through which the subsidies are granted? I motivate these research questions through interviews of accountants, managers, academics and government officials. Through large sample analyses, I confirm that subsidies are positively related to firm value, but less so for distressed firms and subsidies granted through non-tax channels. My study contributes to the understanding of a Chinese-style capitalism that is driving China towards becoming the largest economy in the World. In the third and final essay, I examine whether state subsidies influence the voluntary corporate social responsibility (CSR) disclosures of Chinese listed firms. Focusing on Chinese manufacturing industries for the period 2006-2009, I find that a well established model of CSR disclosures that was designed for Western companies produces similar results in China. I then go on to exploit the additional unique institutional features of China that have material implications for disclosure choice over and above the variables that commonly figure in Western models. In particular, I focus on the influence of state subsidies on the CSR disclosure choices of Chinese firms, taking care to distinguish between state-owned enterprises (SOEs) and non-state owned enterprises (NSOEs). I find that state subsidies do (do not) significantly affect the CSR disclosure choices of NSOEs (SOEs). I also find a significant difference between the influence of tax-based subsidies and non-tax based subsidies on NSOEs. My findings are consistent with the political cost hypothesis that firms receiving state subsidies, especially those not under state control, are pressured to disclose CSR activities due to political cost concerns associated with public demand as well as government scrutiny.
Download or read book Essays on Investment Financing and Institutions in China written by Angela Xuying Lei and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: China's unique approach to the market economy during its transitional phase has provoked widespread interest among researchers. While the Western literature can certainly not be directly applied under Chinese economic conditions, it offers important theoretical grounds on which we can build our understanding of different behaviour of firms and banks in China. In the first chapter, we employ a unique set of data on financial information of over 6,000 firms and study the lending pattern of banks in China at a firm level. We find that in addition to common factors such as profitability, size, and credit history, state ownership is highly correlated with banks' lending decision;the evidence is consistent with the existence of soft budget constraint. The debate over whether such lending bias is caused by the supply side (banks) leads us to the second chapter. We examine and compare investment behaviour of firms under different ownership, with a focus on investment to cash flow sensitivity, using financial and accounting data on over 1,700 listed firms in China. We find opposite effects of cash flow on firms when sample is split between different ownership, with privately owned firms showing a higher sensitivity of investment to cash flow. This result enables us to establish that the cause of lending bias and soft budget constraint in China is indeed a supply side effect. We also find that such sensitivity is positively correlated with firm size and age, but not related to Tobin'q, which we interpret as indicating the lack of market value information about firms in China. Institutional development in the sense of enhancement of the effectiveness of the market is widely viewed as the core to economic reform in transition economies. As privately owned firms generally outperform their state owned counterparts (see Estrin et al. 2009), we study the impact of regional institutions on total factor productivity (TFP) of firms under different ownership. We find that the quality of institutions is highly correlated with firms' TFP, and that improving institutions to facilitate business operations is crucial for firms to achieve higher effectiveness and sustainable growth. The results also suggest that urgent reform is needed for the state owned sector in China.
Download or read book Essays on the Quality of Audited Financial Statements written by Ulf Mohrmann and published by Logos Verlag Berlin GmbH. This book was released on 2016-02-15 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dissertation consists of four essays on the quality of audited financial statements. The first analysis investigates the association between several regulations of the audit market and earnings characteristics. The second essay differentiates between different drivers of audit quality after an auditor change by comparing the effects of voluntary and mandatory auditor changes. The third study analyses the different strategies of Big4 and non-Big4 auditors in dealing with Level 3 fair values. The fourth part examines banks' valuation behavior concerning Level 3 fair values.
Download or read book Enforcement Issues of Accounting Principles in China written by Peter Schulz and published by GRIN Verlag. This book was released on 2008-09 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Project Report from the year 2007 in the subject Business economics - Accounting and Taxes, grade: 85%, Macquarie University (Graduate Accounting and Commerce Centre), course: International Accounting (post-graduate unit), 13 entries in the bibliography, language: English, abstract: In the 21st century, globalisation is deemed inevitable in the development of the world economy. As commercial language, accounting information is internationally accepted so that control over accounting issues and the prevention of accounting fraud are critical to economic development (China Accounting Standards Committee, 2007). In this context, financial reporting quality is regarded as an endogenous function of market demands and political influences that are specific to each country (Chen & Cheng, 2007). The participation of Chinese companies in the world economy has grown during recent decades at a pace that surpasses all other economies significantly. Nevertheless, areas such as accounting and auditing remain a concern. China fully understands that a sound financial reporting system plays a key role in the process of economic development (Financial Reporting in Mainland China, 2007). In saying so, it is important to mention that it is not the standards itself that seem problematic but rather the enforcement of standards. Based on a report written in 2003, this analysis will present aspects that can be a concern with regard to enforcement of accounting standards. After describing each point, an update to what extent it has been resolved will be given. Finally, this report will highlight new enforcement issues that have arisen since 2003 before concluding with an outlook concerning China's future in the field of accounting.
Download or read book Essays on Accounting Earnings Characteristics written by Tao Ma and published by . This book was released on 2011 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is dedicated to identify the effect of (the first paper) and the demand for certain earnings characteristics (the second and third paper). My first paper examines the effect of earnings quality on information flow and equity prices in the Chinese domestic A- and foreign B-share markets. I find that both the ability of A-share returns to predict B-share returns and the B-share discount are negatively correlated with various measures of earnings quality, suggesting that earnings quality can reduce information asymmetry between domestic and foreign investors in the Chinese stock market. Given that information asymmetry between domestic and foreign investors can deter foreign investment, my results suggest providing high quality accounting information can facilitate foreign investment. The second (coauthored with Richard Frankel, Bong Hwan Kim, and Xiumin Martin) and third paper (co-authored with Xiumin Martin) examine how debt holders affect borrowing firms' earnings characteristics. I find that after the initiation of loan contracts requiring the provision of aging schedules, borrowing firms' bad debt expense recognition increases significantly. Debt holders also demand more timely recognition of losses than gains when borrowing firms' CEO compensation induce high preference for risk. Both sets of results are consistent with the notion that debt holders prefer conservative accounting policy. The combined results indicate that accounting information is useful in reducing information asymmetry among equity holders and as well as in mitigating agency costs between equity holders and debt holders.
Download or read book Selected Essays on China s Education Research and Review Volume 1 written by Gang Ding and published by BRILL. This book was released on 2019-09-16 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selected Essays on China’s Education: Research and Review (4 volumes) consists of 22 most influential theses on the history and tradition of Chinese Education. These essays explore important educational and cultural issues in China with a transcultural perspective.
Download or read book Proceedings of the 8th International Conference on Financial Innovation and Economic Development ICFIED 2023 written by Yushi Jiang and published by Springer Nature. This book was released on 2023-05-13 with total page 838 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access book.Financial globalization plays a huge role in promoting the development of the world economy and the optimal allocation of world resources, stimulates the accelerated development of the international division of labor, and increases the international flow of production factors such as industrial transfer, capital transfer, and technology transfer. It enables developing countries to make up for the lack of their own capital and technology, and obtain industrial evolution, technological progress, and institutional innovation, thereby accelerating the speed of economic development; it also enables developed countries to open up cheap labor, raw material markets and broad consumer markets, prolonging product value. More profits, ease the economy, the contradiction of stagflation, and restore economic growth. The 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023) aims to accommodate this need, as well as to: 1. provide a platform for experts and scholars, engineers and technicians in the field of financial Innovation and economic development to share scientific research achievements and cutting-edge technologies 2. Understand academic development trends, broaden research ideas, strengthen academic research and discussion, and promote the industrialization cooperation of academic achievements 3. Promote the institutionalization and standardization of Financial Innovation and Economic Development through modern research 4. Increasing the number of scientific publications for financial Innovation and economic development
Download or read book Accounting with Heart written by Jun Wang and published by John Wiley & Sons. This book was released on 2010-01-05 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the Western world, examination of business and finance can often be a dry enterprise. Wang Jun shows, through this extraordinary collection of writings, both the breadth of his world view and the connections which surely exist between the finance, the arts, philosophy and culture. His is a singular voice, which takes the reader beyond the normal realm of finance discourse. Helen Brand Chief Executive, ACCA If China, rapidly becoming one of the world's leading economies, is now equipped with the accounting tools and skills to take its rightful place on the global business stage, it is largely a tribute to the vision and leadership of my colleague Wang Jun. I am delighted that the publication of this book will enable an international audience to hear him speak for himself. Sir David Tweedie Chairman, International Accounting Standards Board (IASB) This insider's look at the inner workings of China comes from an author who has seen the growth of the modern accounting profession from the start to the present day, as his country prepares for the age of global accounting and auditing standards. Wang Jun's stories of the growth of accountancy in China--and its importance to the expansion of his country's economy--are first and foremost about the cultivation of talent, but also about the importance of accounting standards, ethics and knowledge structures. At an historic juncture during which China "takes a greater leap, exerts a greater influence and pursues excellence," as Mr. Wang puts it, it is good to see that it expects professionals who are well above the ordinary. Robert L. Bunting President, International Federation of Accountants (IFAC) This book is a remarkable testimony to how China elaborated its voluntary policy toward adopting International Financial Reporting Standards. Education and ethics are central in Mr. Wang's erudite addresses, in which he develops a philosophical dissertation based on the lessons of the past and dedicated to promoting the personal and professional values necessary in the pursuit of excellence in a global environment. Hans van Damme President of the Federation of European Accountants (FEE) "Accounting with Heart" energizes, encourages and guides readers to mobilize their passion for learning and the pursuit of excellence; to develop their abilities, management skills, and professional and ethical standards to meet the challenges of globalization; and to take the accountancy profession to new heights. Wang Jun has poured his vast experience into this book which will enrich readers in their striving to become outstanding professionals. Kamlesh Vikamsey Former President, Confederation of Asian & Pacific Accountants "Accounting with Heart" reflects Wang Jun's vision for the development of the accountancy profession in China, a goal in which he has invested significant effort. Just as China is a global market, it is fitting that Chinese accountants play an increasingly important role in the international arena. We welcome that progress and recognize it as an important step for the accountancy profession. Tim Flynn Chairman, KPMG China's role in international finance and business, the subtitle of Vice Minister Wang Jun's insightful new book, is one of the big stories of the twenty-first century. To really understand what's happening in China, one must appreciate the way of thinking of Chinese senior officials, and that's the deep value of "Accounting with Heart." Emerging from the core of China's monumental transformation, this is a masterful work of personal journey and wise reflection. Anyone dealing with China will profit from its timeless principles and subtle force. Robert Lawrence Kuhn Author, "How China's Leaders Think" Wang Jun brings his enormous experience and understanding of China to his book "Accounting with Heart." He has a unique perspective of the development of the economy in China and the role that the accounting profession plays in his country. His commitment to transparency, global standards and integrity are clear in this collection of essays by one of the leading minds in China and across the world. More importantly, Wang Jun's essays outline a roadmap for the development of accounting thought leaders within China while building the framework for educating the next generation of the thousands of professionals within China. It is a must-read for those doing business in all emerging markets. Sam DiPiazza Jr. CEO, PwC Limited
Download or read book The Routledge Companion to Accounting in China written by Haiyan Zhou and published by Routledge. This book was released on 2018-10-10 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is increasing interest in accounting issues in China. Despite a relatively short history, China's stock market is the world's second largest. This growth has been accompanied by increasing demand for accounting information alongside reforms of accounting and auditing rules, as international investors have paid increasing attention to investment opportunities in this dynamic and energetic country with a large population and economic growth potentials. Despite this, at present there are few books which offer students, academics and practitioners a comprehensive guide to current accounting issues in China. The Routledge Companion to Accounting in China fills this important gap in the literature. The volume is organized in six thematic sections which cover capital market and corporate finance, financial accounting, managerial accounting, auditing, taxation and internal controls. The structure is intended to reflect the increasing diversity of contemporary accounting issues in China, including a balanced overview of current knowledge, identifying issues and discussing relevant debates. This book is a prestigious reference work which offers students, academics and practitioners an introduction to current accounting issues in the emerging market of China.
Download or read book Contemporary Accounting Issues in China written by Kin Cheung Liu and published by Prentice Hall PTR. This book was released on 1996 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the economic reform in China in the late 1970s, considerable changes have been made in the field of accounting and related areas. There are indications that the pace of changes has quickened in the last couple of years. However, no detailed analytical account has been made so far on particular issues and the problems involved. This book gives an indepth analysis of the major issues arising in the area of accounting in China with particular emphasis on financial reporting and managerial evaluation.
Download or read book An Essay on China s Development After the Demographic Golden Age written by Xueyuan Tian and published by Springer Nature. This book was released on 2023-03-17 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book mainly addresses China’s current demographic situation and social people-related policies. It aims to solve the issues of demographic transition, population aging, population flow, urbanization, population quality, etc. China is the first large population country, with the vast territory and the huge economic system. It has many issues such as productivity and production relations, superstructure and economic base, and domestic and international relations in various fields and at all levels. Hence, China needs to come up with a set of overall strategies. The author sorts out all of his works in recent years and performs his new academic achievements on demographic issues and social governing strategies. This timely book offers new methods that impact advanced social development with real data.
Download or read book Development of Accounting and Auditing Systems in China written by Xu-Dong Ji and published by Ashgate Publishing. This book was released on 2001 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investigating the development of Chinese accounting in a broad social, economic and cultural environment and analyzing the environmental influences on the development of accounting in China, including the latest accounting systems, this cutting-edge analysis makes a worthy addition to a growing area of research.
Download or read book Essays on Accounting and Incentives in Chinese Equity Markets written by Yin Zhu and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Accounting and Auditing in China written by Z. Jun Lin and published by Ashgate Publishing. This book was released on 1998 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction to accounting and auditing developments in China. The topics include the regulatory system of accounting, securities markets and information disclosure, cost accounting and managerial accounting, public accounting and the profession, taxation and tax returns, accounting for governments and non-profit organizations, computarization of accounting, the business environment and the legal framework, accounting education, accounting associations and research, etc.
Download or read book One Step Ahead in China written by Ezra F. Vogel and published by Harvard University Press. This book was released on 1989 with total page 526 pages. Available in PDF, EPUB and Kindle. Book excerpt: One Step Ahead in China is a groundbreaking book, unique in its detailed coverage of Guangdong, the first socialist dragon to follow in the path of South Korea and Taiwan. 6 maps, 7 tables.
Download or read book Investment Strategies in Emerging New Trends in Finance written by Reza Gharoie Ahangar and published by BoD – Books on Demand. This book was released on 2021-04-14 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment and portfolio strategies are some of the most exciting topics in finance. This book presents the most up-to-date topics and techniques in finance to facilitate the investment process for researchers and investors in selecting appropriate investment strategies with the emergence of new issues and concepts in financial areas. This book contains nine chapters divided into three sections: The first section, “Investment and Portfolio Strategies,” discusses different investment strategies in portfolio selection. The second section, “Behavioral Finance and Investment Decisions,” examines the application of behavioral finance in investment decisions. The last section, “Emerging New Trends in Finance,” includes some new and interesting finance topics that can depict our vision for the future arena of finance.
