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Article
Publication date: 1 July 2019

Judy Louie, Kamran Ahmed and Xu-Dong Ji

This paper aims to examine the voluntary disclosure practices of family and non-family listed firms and whether family firms have improved their disclosure practices following the…

780

Abstract

Purpose

This paper aims to examine the voluntary disclosure practices of family and non-family listed firms and whether family firms have improved their disclosure practices following the introduction of the Principles of Good Corporate Governance and Best Practice Recommendations in 2003 in Australia.

Design/methodology/approach

Voluntary disclosures are measured by constructing an index specifically for this study. Such indexes consist of corporate governance disclosure, strategic disclosure and future disclosures. They are then regressed on firm-specific variables while controlling for family and non-family firms. A total of 60 family firms and 60 non-family firms in Australia are randomly chosen from 2001 to 2006 for examining their disclosure practices.

Findings

The research findings show that family firms disclose information voluntarily to signal to the market regarding their growth potentials and abide by government regulations to improve their reputation. Despite the fact that compliance with the Principles of Good Corporate Governance and Best Practice Recommendations was not compulsory, this paper finds that the recommendation encouraged family and non-family firms to disclose more corporate governance information.

Practical implications

The findings from this research will help investors and regulators make more strategic decisions on investments and regulations respectively in family firms.

Originality/value

There has been limited empirical evidence on the disclosure practices and their determinants of family firms in Australia. The study will thus significantly contribute to the current knowledge in this regard.

Details

Accounting Research Journal, vol. 32 no. 2
Type: Research Article
ISSN: 1030-9616

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Article
Publication date: 2 May 2017

Nor Farizal Mohammed, Kamran Ahmed and Xu-Dong Ji

The purpose of this paper is to examine the relationship between accounting conservatism, corporate governance and political connection in listed firms in Malaysia where political…

5139

Abstract

Purpose

The purpose of this paper is to examine the relationship between accounting conservatism, corporate governance and political connection in listed firms in Malaysia where political influence plays a significant role in the capital market and in many business dealings.

Design/methodology/approach

By utilizing 824 firm-year observations comprising large listed companies over a period of four years from 2004, this study uses ordinary least squares regression models to investigate the relationship between accounting conservatism, corporate governance and political connections in Malaysia. Multiple measures of conservatism developed by Basu (1997) and Khan and Watts (2009) are employed.

Findings

The results show evidence of accounting conservatism (bad news being recognized earlier than good news) in Malaysia. Further, the results reveal that better corporate governance structure in terms of board independence is positively associated with accounting conservatism while management ownership is negatively associated with it. However, political connection has a negative moderating effect on the positive relationship between accounting conservatism and board independence. The results also suggest political connections have a positive association with firm’s future performance.

Originality/value

This study is the first in investigating the effect of political connections on accounting conservatism in Malaysian context and how political connections negatively affect the monitoring role of the corporate boards. By directly measuring political connection and controlling for various corporate governance mechanisms and firm-specific attributes, this study contributes to enhance the authors’ understanding of the political influence in financial reporting quality and firm performance in an emerging market setting.

Details

Asian Review of Accounting, vol. 25 no. 2
Type: Research Article
ISSN: 1321-7348

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Article
Publication date: 10 January 2025

Dessalegn Getie Mihret, Wei Lu and Xu-Dong Ji

This study aims to examine competition between global professional service firms (GPSFs) and Chinese local audit firms (LAFs) over the past four decades, explaining the process…

24

Abstract

Purpose

This study aims to examine competition between global professional service firms (GPSFs) and Chinese local audit firms (LAFs) over the past four decades, explaining the process and outcomes of this competition in relation to shifting economic policy priorities.

Design/methodology/approach

The authors analysed pertinent documents and media reports through the lens of strategic action field (SAF). The authors interpret the dynamics of the competition against the background of the shifting framing of Chinese economic policies.

Findings

The authors find that frame alignment with the state’s priorities in China enabled GPSFs and LAFs to secure stronger market positions relative to each other in different episodes of the Chinese policy landscape. The Chinese state’s marketisation reforms conditioned the outcome of the competition between GPSFs and LAFs. Initially, GPSFs gained access to the Chinese accounting field and achieved a strong market position by leveraging China’s “open-door” policy. This situation was reversed when China’s economic policy shifted to “going global” because Chinese LAFs pursued internationalisation framing thereby aligning with the state’s priority of internationalising the economy.

Originality/value

Using the lens of SAF, this study offers theorised insights into how transnational competition in the accounting field plays out in a non-Western state setting.

Details

Meditari Accountancy Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2049-372X

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Article
Publication date: 1 May 2000

Xu‐Dong Ji

Outlines the history of accounting in China and reviews the literature published in English on the full range of Chinese accounting issues. Summarizes the contents of three books…

1375

Abstract

Outlines the history of accounting in China and reviews the literature published in English on the full range of Chinese accounting issues. Summarizes the contents of three books, refers to sections in other books and analyses journal articles by period, journal, research topic and research method. Argues that this accounting research has historical, academic and practical value,believes it will continue to improve and calls for greater use of more rigid research methodologies in this area.

Details

Managerial Finance, vol. 26 no. 5
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 16 January 2007

Xu‐dong Ji, W. Lu and M. Aiken

Since the Chinese government implemented its reform and open‐up policies in 1978 many western management accounting concepts and techniques have been introduced into China. The…

1458

Abstract

Purpose

Since the Chinese government implemented its reform and open‐up policies in 1978 many western management accounting concepts and techniques have been introduced into China. The purpose of this paper is to investigate how Chinese management accountants have coped with the changes in the new economic environment and absorbed new ideas into their own practices. This paper also discusses the differences between the current Chinese management accounting system and the management accounting systems used in the western countries, and the obstacles in implementing western management accounting systems in China.

Design/methodology/approach

Both field study and survey approaches were used in this project. Six selected Chinese enterprises were visited. A questionnaire was distributed to all accountants in these companies.

Findings

This paper has found that the main obstacle for implementation of western methods is not political sensitivity, but the extent of technical constraints. The management information system (MIS) is under development in most Chinese enterprises, while the essential data for using western techniques, such as activity‐based costing, cannot be collected easily in the current situation. Nevertheless, changes in management accounting can be seen in some areas, such as the quality of products being promoted; the use of the responsibility accounting; and profitability as the key criterion for selecting investment projects.

Originality/value

This paper provides a comprehensive study about Chinese management accounting systems. The findings in the study will help western investors to be better prepared if they have set up a business in China or are going to enter the Chinese market.

Details

Asian Review of Accounting, vol. 15 no. 1
Type: Research Article
ISSN: 1321-7348

Keywords

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Article
Publication date: 26 August 2014

Xu-Dong Ji and Wei Lu

The purpose of this paper is to examine the value relevance of intangible assets, including goodwill and other types of intangibles in the pre- and post-adoption periods of…

4837

Abstract

Purpose

The purpose of this paper is to examine the value relevance of intangible assets, including goodwill and other types of intangibles in the pre- and post-adoption periods of International Financial Reporting Standards (IFRS). Most importantly, this paper investigates whether the value relevance of reported intangible assets is associated with their value reliability. Furthermore, this paper reports whether the adoption of IFRS improves the value relevance of intangible assets and alters the relationship between value relevance and reliability.

Design/methodology/approach

Both price and return models based on Ohlosn theory (1995) are employed to test the value relevance and value reliability of intangibles. Australian-listed firms with capitalised intangibles from 2001 to 2009 are selected in this study. The sample includes 6,650 firm-year observations.

Findings

The main result shows that capitalised intangible assets are value relevant in Australia, in both the pre- and post-adoption of IFRS periods. Value relevance is higher in firms with more reliable information on intangible assets. This study finds that the value relevance of intangibles has declined in the post-adoption period of IFRS. However, the positive relationship between the value relevance and the reliability of intangibles has remained unchanged in the post-adoption period.

Originality/value

The paper contributes a new measurement of value reliability of accounting information about intangibles. This paper is one of few studies on the relationship between value relevance and reliability of intangible assets. The results show that value relevance is positively associated with value reliability. This suggests that, when accounting standard setters assess whether the existing IFRS of intangibles should be improved in the future, they need to think not only in terms of whether the standard can provide more relevant information of intangibles to investors but also whether the standard can make the information of intangibles more reliable.

Details

Asian Review of Accounting, vol. 22 no. 3
Type: Research Article
ISSN: 1321-7348

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Article
Publication date: 5 May 2015

Xu_Dong Ji, Kamran Ahmed and Wei Lu

The purpose of this paper is to investigate the effect of corporate governance and ownership structures on earnings quality in China both prior and subsequent to two important…

3513

Abstract

Purpose

The purpose of this paper is to investigate the effect of corporate governance and ownership structures on earnings quality in China both prior and subsequent to two important corporate reforms: the code of corporate governance (CCG) in 2002 and the split share structure reform (SSR) in 2005.

Design/methodology/approach

This study utilises informativeness of earnings (earnings response coefficient), conditional accounting conservatism and managerial discretionary accruals to assess earnings quality using 12,267 firm-year observations over 11 years from 2000 to 2010. Further, two dummy variables for measuring the changes of CCG and SSR are employed to estimate the effects of CCG and SSR reforms on earnings quality via OLS regression.

Findings

This study finds that the promulgation of the CCG in 2002 has had a positive impact, but the SSR reform in 2005 has had little effect on listed firms’ earnings quality in China. These results hold good after controlling for a number of ownership, governance and other variables and estimating models with multiple measures of earnings’ quality.

Research limitations/implications

Future research could focus on how western style corporate governance mechanisms have been constrained by the old management systems and governmental dominated ownership structures in Chinese listed firms. The conclusion is that simply coping Western corporate governance model is not suitable for every country.

Practical implications

The results will assist Chinese regulators in improving reporting quality, ownership structure and governance mechanisms in China. The results will help international investors better understand quality of financial information in China.

Originality/value

This is the first to our knowledge that addresses the effects of major governance and ownership reforms together on accounting earnings quality and, thus, makes a significant contribution on understanding the effect of regulatory reforms on improving earnings quality. In doing so, it also indirectly assesses the effectiveness of western-style corporate governance mechanisms introduced in China.

Details

International Journal of Accounting & Information Management, vol. 23 no. 2
Type: Research Article
ISSN: 1834-7649

Keywords

Available. Content available
Article
Publication date: 15 March 2013

165

Abstract

Details

Journal of Accounting & Organizational Change, vol. 9 no. 1
Type: Research Article
ISSN: 1832-5912

Available. Content available
Article
Publication date: 21 March 2008

517

Abstract

Details

Journal of Accounting & Organizational Change, vol. 4 no. 1
Type: Research Article
ISSN: 1832-5912

Available. Content available
Article
Publication date: 16 March 2012

285

Abstract

Details

Journal of Accounting & Organizational Change, vol. 8 no. 1
Type: Research Article
ISSN: 1832-5912

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