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The purpose of this paper is to examine the joint effects of state ownership and tax rate cuts on accounting conservatism, considering the different levels of foreign ownership in the context of Vietnam.

The paper uses ordinary least squares regressions and a data set of 405 firms covering the period 2007 to 2019. The manuscript uses three measures of accounting conservatism: Basu’s 1997 timeliness of earnings, Basu’s 1997 earnings persistence and the book-to-market ratio.

State-owned enterprises (SOEs) adopt less accounting conservatism than non-SOEs; however, the result is only robust in firms with foreign ownership being lower than the foreign ownership median. Firms increase accounting conservatism in the year immediately prior to the year that the tax rate cuts become effective. An SOE possesses an unusual conflict both as a taxpayer and in having its controlling interest held by the government, which is both a tax creator and a tax collector. Interestingly, the increase in accounting conservatism prior to the year of the tax rate cuts is more pronounced for non-SOEs than SOEs.

This research is beneficial to investors and policymakers where the government is both the taxpayer and tax collector and in emerging markets where foreign investment is local firms’ important financing.

To the best knowledge, this study is the first in examining the joint effects of state control and tax rate cuts on accounting conservatism.

This study aims to examine the effects of audit quality on earnings management and cost of equity capital (COE) considering the impact of two owner types: government ownership and foreign ownership.

The study uses a panel data set of 236 Vietnamese firms covering the period 2007 to 2017. Because the two main dependent variables of the COE capital and the absolute value of discretionary accruals receive fractional values between zero and one, the paper uses the generalised linear model (GLM) with a logit link and the binomial family in regression analyses. The paper uses numerous audit quality measures, including hiring Big 4 auditors or the industry-leading Big 4 auditor, changing from non-Big 4 auditors to Big 4 auditors or the industry-leading Big 4 auditor, and the length of Big 4 auditor tenure. Big 4 companies include KPMG, Deloitte, EY and PwC, whereas the non-big 4 are the other audit companies.

The study finds a negative relationship between audit quality and both the COE capital and income-increasing discretionary accruals. The effects of audit quality on discretionary accruals and the COE capital depend on the ownership levels of two important shareholders: the government and foreign investors. Foreign ownership is negatively associated with discretionary accruals; however, the effect is more pronounced in the sub-sample of state-owned enterprises (SOEs), the firms where the government owns 50% or more equity, than in the sub-sample of Non-SOEs.

To the best of the knowledge, no prior similar study exists that used the GLM with a logit link and the binomial family regression. Global investors may be interested in understanding how unique institutional settings and capital markets of each country impact the financial reporting quality and cost of capital. Further, policymakers of developing markets may have incentives to improve the quality of financial reporting and reduce the cost of capital which should result in attracting more foreign investments.

This study aims to examine the effects of market liquidity on earnings management (EM) of seasoned equity offering (SEO) firms considering external capital access.

This study uses a panel data set of 158 Vietnamese SEO firms from 2007 to 2019. Both real and accrual EM measures are analysed. The study uses two proxies for market liquidity: stock turnover (the ratio of total shares traded over the year divided by total shares outstanding for the year) and high–low spread (estimated following Corwin and Schultz [2012]) and fixed-effects panel and two-stage least squares regression in the analysis.

Firms with high (low) market liquidity report low (high) EM, and the result is robust after controlling for endogeneity. The results hold for both real and accrual-based EM for both market liquidity proxies. However, the results are robust only for firms with low external capital access and non-state-owned companies. The authors find a negative market reaction to earnings manipulation.

This study’s findings help policymakers, investors and managers make better decisions regarding SEO firms and reduce the risk of inaccurate information due to EM.

Among the few studies that test the influence of market liquidity on EM, to the best of the authors’ knowledge, this study is the first to examine the effect of market liquidity on EM in the context of SEO firms considering the impact of capital access.

This paper examines how manufacturing firms impacted by the nitrogen oxides (NO_x) Budget Trading Program (NBP) strategically managed working capital to release funds for increased costs and mitigate the negative impact on firm performance.

The study uses a panel data set including 11,302 manufacturing firm-year observations listed on the US exchanges during the period 2000–2008. The authors use Tobin's Q to proxy for firm performance, and cash holding, cash conversion cycle (CCC), days sales outstanding (DSO), days sales inventory (DSI) and days payable outstanding (DPO) for working capital management (WCM). The empirical analysis is conducted using both ordinary least squares (OLS) and propensity score matching (PSM) regressions.

The authors find that firms respond to the higher utility costs imposed by the NBP by decreasing CCC, DSO and DSI. This active WCM response partially mitigated the impact of increased compliance costs on performance for firms affected by the NBP. Results are robust in PSM regressions.

Climate change is a global issue that has attracted increasing attention in recent years. This study shows how firms can adjust short-term financing strategies to address the costs of compliance with climate change regulation.

The paper contributes to the emerging literature on corporate finance and climate policy actions. The authors use the unique experimental setting of the NBP to examine the regulatory impact on corporate financial management. The authors demonstrate how firms used active WCM to mitigate the negative performance impact of regulatory compliance with the NBP, providing novel insight on the implication of compliance with climate change legislation.

This paper explores how education and training systems can support a digitally-enabled workforce for the Australian manufacturing sector.

The study is based on interviews with 17 sector-level manufacturing stakeholders from industry, government and education/training organisations. Semi-structured interviews were conducted to gain an in-depth understanding of how education and training systems currently support a digitally-enabled manufacturing workforce as well as opportunities for alternative configurations or developments.

Analysis revealed three themes reflecting core dimensions of a supportive education and training system: partnerships, pedagogy and prospects. Cooperative, integrated and sustained partnerships are needed between vocational education and training (VET) institutions, universities, government, industry, high schools and private training providers. Pedagogy emphasises the vital importance of infusing curriculum with digital and technology skills and capabilities, alongside innovative and experiential delivery modes including simulated environments, online learning, on-the-job training, flexible delivery and micro-credentials. Prospects reflects the need for forward-looking assessment and planning to respond to industry trends and develop associated qualifications, skills and investments required to meet future industry needs.

With growing demand for digitally-enabled skills to support manufacturing, an industry which is acknowledged as critical for economic prosperity and national sovereignty, the findings contribute novel insights into current limitations and future opportunities to bridge the gap between skills shortages in the manufacturing industry, and education and training systems that deliver graduate readiness and a digitally-enabled workforce.

THE death of Sir John Ballinger was the cardinal library event of January. Elsewhere one of our contributors has gathered his memories of this distinguished past president of the Library Association. Here we pay tribute to a great librarian whose devotion to all that is best in the service was life‐long and who received honours which are not always given to librarians. Achieving a relatively important library position in early life, he not only gave his city an admirable service; he found time to work for all the general interests of the profession. The respect and gratitude, and indeed the affection, of all of us surrounded his later years and go with him to his grave. Our sympathy is respectfully expressed to Lady Ballinger and her family.

Because that the crime in a wide way impacts the life of the people in the big metropolis, researchers have treated the question from several angles. The purpose of the paper, under the umbrella of operational research, is to develop a model of the ordering of police strategies, in the fight against crime in general, according to a certain criminal demand.

For the construction of the impact matrix of the strategies under the reduction of crime rates, considering a portfolio of crimes, a questionnaire applied to specialists was used. In a second moment, defined the criteria and strategies to be ordered, the multicriteria ELECTRE IV method was used, which with the help of the J-Electre software emulated the systematized data in the impact matrix and produced the final ordering of the most efficient strategies, in the fight against crime, in the perception of decision-makers.

As a result, the research revealed that policing strategies directed at solving specific crimes are the most effective in the perception of decision-makers after the emulation of data with the ELECTRE IV method.

As research implications, it can be inferred that the use of multicriteria methods in the modeling of problems in the area of public security can contribute to rationalization of the use of the means available in the fight against crime in large cities. The research showed that it is possible to use customized policing strategies to a certain reality.

The method presented in this research is directly related to the major strategies: problem-oriented policing and hot spot policing. This method allows public safety managers to consider the possibility of combining different law enforcement strategies in each context. In this sense, the use of the multiple-criteria decision analysis (MCDA) (ELECTRE IV) method allows the evaluation of a large set of alternatives according to a set of established criteria, speeding up the process and reducing subjectivity, allowing the manager to analyze several scenarios with greater clarity and impartiality and choosing an alternative that best solves the proposed problem. The expected result is the rationalization of the available means applied in the search for the reduction of crime rates.

The customization of policing strategies, according to criminal demands, implies the efficient way to reduce criminal charges. Reducing criminal rates enables the development of the local economy, tourism and the quality of life of people by exercising their freedom to the full.

The originality lies in filling a gap in the literature with the elaboration of the impact matrix of policing strategies in reducing criminal indices, and in their associated use in ordering strategies through a multicriteria method.