Sang Ho Lee, Seung Uk Choi and Ji Yeon Ryu
The purpose of this study is to examine the association between additional audit efforts and clients’ future equity value. The study hypothesizes that auditors’ additional audit…
Abstract
Purpose
The purpose of this study is to examine the association between additional audit efforts and clients’ future equity value. The study hypothesizes that auditors’ additional audit efforts directly increase clients’ stock return performance. Additionally, this study expects that the additional audit effort lowers the likelihood of audit failure and improves accounting information quality, thereby indirectly increasing clients’ future equity return performance.
Design/methodology/approach
The regression and portfolio return tests are conducted using observations from 2003 to 2016. This study uses the abnormal audit hours as a proxy for additional audit effort using mandatorily disclosed audit hour data from Korean listed firms. The study also conducts mediation analyses to examine the causal intermediate steps that link audit effort to client equity return performance.
Findings
The paper documents a significant and positive association between abnormal audit hours and clients’ subsequent years’ stock return performance and Tobin’s Q. This finding is accentuated for clients audited by Big N auditors or with greater demand for superior audit service. This finding is robust after controlling for various proxies of accounting quality. The portfolio return tests also find evidence that investors cannot fully perceive the value of audit efforts. A battery of additional tests does not alter the main findings.
Practical implications
The results provide implications for investors and policymakers by emphasizing the importance of audit efforts in value-creation. Moreover, this study’s findings suggest that auditors’ assurance, insurance and information roles are all the important drivers of this value-creation.
Originality/value
This study highlights a prominent feature of audit effort that enhances the value of auditees.
Details
Keywords
Young-Myon Lee and Michael Byungnam Lee
While the origin of Korean Industrial Relations goes back 150 years when the country opened its seaports to foreign countries, it didn’t emerge as a field of study until 1950s…
Abstract
While the origin of Korean Industrial Relations goes back 150 years when the country opened its seaports to foreign countries, it didn’t emerge as a field of study until 1950s when academics began to write books and papers on the Korean labor movement, labor laws, and labor economics. In this paper, we sketch this history and describe important events and people that contributed to the development of industrial relations in Korea. Korean industrial relations in the early 20th century were significantly distorted by the 35-year-Japanese colonial rule (1910–1945). After regaining its independence, the U.S. backed, growth-oriented, military-based, authoritarian Korean government followed suit and consistently suppressed organized labor until 1987. Finally, the 1987 Great Labor Offensive allowed the labor movement to flourish in a democratized society. Three groups were especially influential in the field of industrial relations in the early 1960s: labor activists, religious leaders, and university faculty. Since then, numerous scholars have published books and papers on Korean industrial relations, whose perspectives, goals, and processes are still being debated and argued. The Korean Industrial Relations Association (KIRA) was formed on March 25, 1990 and many other academic and practitioner associations have also come into being since then. The future of industrial relations as a field of study in Korea does not seem bright, however. Issues regarding organized labor are losing attention because of a steadily shrinking unionization rate, changing societal attitude toward labor unions, and the enactment of new and improved laws and regulations regarding employment relationships more broadly. Thus, we suggest that emerging issues such as contingent workers, works councils and tripartite partnership, conflict management, and human rights will be addressed by the field of industrial relations in Korea only if this field breaks with its traditional focus on union and union–management relations.
Wooyang Kim, Hyun Sang An, Donald A. Hantula and Anthony Di Benedetto
This study aims to examine the younger generations’ experiential consumption of foreign contemporary music online (i.e. digital music streaming services) by generation and gender…
Abstract
Purpose
This study aims to examine the younger generations’ experiential consumption of foreign contemporary music online (i.e. digital music streaming services) by generation and gender in the US market.
Design/methodology/approach
The author proposes a sequential experiential consumption model by applying Jacoby’s refined stimulus-organism-response (S-O-R) theory to better understand the experiential sequences in foreign music consumption among young generations in the US market. The proposed model, using structural equation modeling (SEM), examines a cognitive permeable role and a hierarchical affective mediating role. Also, moderating roles of generation and gender are simultaneously tested in overall and specific causal relationships.
Findings
The refined S-O-R framework is superior to a linear one in better understanding young consumers’ online experiential foreign music consumption behavior. Moreover, hierarchical sequenced affective organismic behavior is crucial to enhance young consumers’ online music consumption experiences to regulate subsequent behavioral responses. Furthermore, gender differences but no generational differences exist in the experiential consumption process among young consumers. Nevertheless, the strength of S-O-R factors affecting experiential consumption seems idiosyncratic simultaneously in gender and generation.
Practical implications
The study suggests foreign music streaming services boost profitability by focusing on young consumers' psychological ownership and tailored experiences, encouraging a shift from freemium to premium subscriptions. Also, the findings recommend adopting phygital experiences using technologies like AR, VR and MR to enhance engagement and create unique, emotionally resonant experiences for young consumers, thus fostering a more profitable business model.
Originality/value
The authors address under-researched topics relevant to young generations by applying Jacoby’s refined S-O-R framework to foreign music consumption through online streaming. This approach delves into a lesser-explored consumer behavior framework, highlighting young generations’ musical trends. The model reveals cognitive and affective roles, offering advantages over traditional linear S-O-R models. It also uniquely incorporates the moderating effects of generation and gender in music consumption studies, addressing a gap in music-related studies.
Details
Keywords
Ayman Abdalmajeed Alsmadi, Najed Aalrawashdeh, Anwar Al-Gasaymeh, Amer Moh'd Al_hazimeh and Loai Alhawamdeh
This study aims to provide a better comprehension of the behavioural intentions that influence the adoption of Islamic financial technology (Fintech) in Malaysia for two kinds of…
Abstract
Purpose
This study aims to provide a better comprehension of the behavioural intentions that influence the adoption of Islamic financial technology (Fintech) in Malaysia for two kinds of Islamic lending Fintech services, which are crowdfunding and peer-to-peer (P2P) lending.
Design/methodology/approach
From May to July 2022 the primary data were collected by using a questionnaire distributed online to survey 437 Islamic Fintech clients in Malaysia. Structural equation modelling has been used to analyse the data based on using the partial least squares approach.
Findings
The findings of this paper shows that planned behaviour, acceptance model and technology's use models are positively impacting factors that influence customers' opinions on adapting Islamic Fintech services in lending. The acceptance model was found to exert a negative impact on the intention to adopt Islamic lending P2P Fintech service. In addition, technology's use has a negative impact on the intention to adopt Islamic lending crowdfunding Fintech service.
Research limitations/implications
First, the study is limited to Islamic Fintech customers in Malaysia only, second, the study adopted an online survey but there is no guarantee that the geography area was fully covered. Another limitation is that the study covers only Islamic Fintech services in lending, thus the study did not attend to variables such as religiosity and the authors believe that this will provide useful insights for future research.
Originality/value
Despite the importance of this topic, there has been a lack of empirical evidence until now. In this paper, the authors take stock of the empirical evidence in the literature through the importance of the adoption Fintech. This study provides a broad view of the market potentials for Fintech providers from the demand side on a wide range of Islamic Fintech services rather than focussing only on payment, transfer, etc. as presented in previous studies.
Details
Keywords
Amrita Poonia and Surabhi Pandey
The purpose of this paper is to review the nutritional composition, phytochemicals and bioactive compounds of black rice such as flavonoids, phenolic compounds and their health…
Abstract
Purpose
The purpose of this paper is to review the nutritional composition, phytochemicals and bioactive compounds of black rice such as flavonoids, phenolic compounds and their health benefits. Black rice has also been used in medicine and for curing diabetes, obesity, cardiovascular diseases and cancer. Green technologies such as microwave-assisted extraction, supercritical fluid extraction and pulse electric field assisted extraction are very useful for the extraction of bioactive compounds as these reduce the use of energy and are environmental friendly. Black rice in different forms can be incorporated in various food products such as bakery, dairy and meat products.
Design/methodology/approach
Information and data were collected from different sources such as Google Scholar, Research Gate, online journals available at Banaras Hindu University library, Web of Science and Scopus. A database of more than 80 scientific sources from different sources was made as per the headings and subheadings of the paper.
Findings
Black rice is a type of rice species (Oryza sativa L.) and very good source of various nutrients and one of the nutritious varieties of rice. It is a good reservoir of essential amino acids such as lysine, tryptophan, minerals including iron, calcium, phosphorus, zinc and selenium; vitamins such as vitamin B1, vitamin B2 and folic acid. Various recent methods of extraction of bioactive compounds from black rice are suggested.
Originality/value
Researchers and scientists have considered black rice as a “Super Food” because of its nutritional profile. Black rice has antioxidant activity, anti-inflammatory activity, anticancer activity, antihyperlipidemia and antihyperglycemia and anti-allergic activity. There is a need to create awareness among the consumers about its nutritional profile and therapeutic properties.
Details
Keywords
Dangshu Wang, Menghu Chang, Licong Zhao, Yuxuan Yang and Zhimin Guan
This study aims to regarding the application of traditional pulse frequency modulation control full-bridge LLC resonant converters in wide output voltage fields such as on-board…
Abstract
Purpose
This study aims to regarding the application of traditional pulse frequency modulation control full-bridge LLC resonant converters in wide output voltage fields such as on-board chargers, there are issues with wide frequency adjustment ranges and low conversion efficiency.
Design/methodology/approach
To address these issues, this paper proposes a fixed-frequency pulse width modulation (PWM) control strategy for a full-bridge LLC resonant converter, which adjusts the gain by adjusting the duty cycle of the switches. In the full-bridge LLC converter, the two switches of the lower bridge arm are controlled by a fixed-frequency and fixed duty cycle, with their switching frequency equal to the resonant frequency, whereas the two switches of the upper bridge arm are controlled by a fixed-frequency PWM to adjust the output voltage. The operation modes of the converter are analyzed in detail, and a mathematical model of the converter is established. The gain characteristics of the converter under the fixed-frequency PWM control strategy are deeply analyzed, and the conditions for implementing zero-voltage switching (ZVS) soft switching in the converter are also analyzed in detail. The use of fixed-frequency PWM control simplifies the design of resonant parameters, and the fixed-frequency control is conducive to the design of magnetic components.
Findings
According to the fixed-frequency PWM control strategy proposed in this paper, the correctness of the control strategy is verified through simulation and the development and testing of a 500-W experimental prototype. Test results show that the primary side switches of the converter achieve ZVS and the secondary side rectifier diodes achieve zero-current switching, effectively reducing the switching losses of the converter. In addition, the control strategy reduces the reactive circulating current of the converter, and the peak efficiency of the experimental prototype can reach 95.2%.
Originality/value
The feasibility of the fixed-frequency PWM control strategy was verified through experiments, which has significant implications for improving the efficiency of the converter and simplifying the design of resonant parameters and magnetic components in wide output voltage fields such as on-board chargers.