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Corporate Governance and Financial Reporting
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Corporate Governance and Financial Reporting

A special issue of International Journal of Financial Studies (ISSN 2227-7072).

Deadline for manuscript submissions: closed (25 June 2021) | Viewed by 12219

Special Issue Editors

Dr. Sakthi Mahenthiran

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Guest Editor
Lacy School of Business, Butler University, Indianapolis, IN 46208, USA
Dr. Ravichandran Subramaniam

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Guest Editor
Monash Univesity Malaysia, School of Business, Bandar Sunway, Selangor, Malaysia

Special Issue Information

Dear Colleagues,

During these trying times, it is important to understand how corporate governance is affecting financial reporting.  For example, due to COVID-related shutdowns, many companies have lost significant earnings and stopped providing earnings guidelines to stock market analysts. Hence, this could provide incentives for companies to manage or smooth their earnings, and lower taxable income and taxes, and for auditors to change their audit procedures to defend qualified opinions. It might be too soon to study the effects of the COVID-19 shock on earnings, taxes, and audit reports, but this Special Issue encourages research studies to establish the baseline for the association between corporate governance mechanisms and earnings per share, credit quality, tax rates, etc. before 2020. Particularly, we welcome studies from less developed countries where concentrated ownership and shareholder monitoring affects the nature of the relationship between the corporate governance mechanisms and these financial-reporting-related outcome variables. Studies that use both secondary (archival) and primary (survey) data are welcome.      

Dr. Sakthi Mahenthiran
Dr. Ravichandran Subramaniam
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. International Journal of Financial Studies is an international peer-reviewed open access quarterly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1800 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • Corporate governance
  • Financial reporting/disclosures
  • Earnings quality
  • Credit ratings and credit quality
  • Audit issues
  • Taxes

Published Papers (3 papers)

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Research

29 pages, 426 KiB  
Article
The Influence of Government Shareholding on Dividend Policy in Malaysia
by Philip Sinnadurai, Ravichandran Subramaniam and Susela Devi
Int. J. Financial Stud. 2021, 9(3), 49; https://0-doi-org.brum.beds.ac.uk/10.3390/ijfs9030049 - 10 Sep 2021
Cited by 1 | Viewed by 3560
Abstract
We investigate the association between dividend policy and government shareholding, using Malaysian data. We hypothesize a positive association. We contribute to the literature about dividend policy. Unique features of our study include adaptations to the Malaysian institutional setting, with respect to usage of [...] Read more.
We investigate the association between dividend policy and government shareholding, using Malaysian data. We hypothesize a positive association. We contribute to the literature about dividend policy. Unique features of our study include adaptations to the Malaysian institutional setting, with respect to usage of dividend relevance theory, research methodology, and data collection. The methodology entails two-stage least squares regressions. Dividend payout and dividend yield are the dependent variables in tests of the research hypothesis. The independent variable of interest measures ownership by government-related institutional investors. The sample comprises 1190 company-years, over the investigation period 2006–2013. The results support our hypothesis. The evidence suggests that this support principally emanates from companies with low-quality corporate governance. Full article
(This article belongs to the Special Issue Corporate Governance and Financial Reporting)
25 pages, 517 KiB  
Article
Improving Audit Reports: A Consensus between Auditors and Users
by Estibaliz Goicoechea, Fernando Gómez-Bezares and José Vicente Ugarte
Int. J. Financial Stud. 2021, 9(2), 25; https://0-doi-org.brum.beds.ac.uk/10.3390/ijfs9020025 - 29 Apr 2021
Cited by 4 | Viewed by 4915
Abstract
Audit reports represent the only information stakeholders have about conducted audits and they are a key instrument used in economic and financial decisions. Improving audit reports should be a priority of regulators and auditors. The authors solicited perceptions from 212 experienced auditors and [...] Read more.
Audit reports represent the only information stakeholders have about conducted audits and they are a key instrument used in economic and financial decisions. Improving audit reports should be a priority of regulators and auditors. The authors solicited perceptions from 212 experienced auditors and financial report users about the value of audit reports and ways to improve their format and content. An analysis of the responses suggests that adding information on audits (such as auditor’s responsibility about fraud) and on annual accounts and client’s information systems, without significant changes in the format, would improve the decision usefulness of audit reports. The growing sophistication of markets and reporting standards requires new information in audit reports, such as auditors’ conclusions about management’s estimates in annual accounts. The study is useful to regulators, auditors’ corporations, academics, and users and contributes to the current audit literature by providing evidence on consensus between auditors and users with regard to the format and content of audit reports. Full article
(This article belongs to the Special Issue Corporate Governance and Financial Reporting)
21 pages, 347 KiB  
Article
The Effect of Board Links, Audit Partner Tenure, and Related Party Transactions on Misstatements: Evidence from Chile
by Sakthi Mahenthiran, Berta Silva Palavecinos and Hanns De La Fuente-Mella
Int. J. Financial Stud. 2020, 8(4), 78; https://0-doi-org.brum.beds.ac.uk/10.3390/ijfs8040078 - 16 Dec 2020
Cited by 2 | Viewed by 3008
Abstract
Companies restate when material misstatements are identified in previously issued financial statements. Misstatement research in Latin America is sparse, even though they are an important context to study this phenomenon. Chile’s corporate governance regulations are considered exemplars for Latin American countries but its [...] Read more.
Companies restate when material misstatements are identified in previously issued financial statements. Misstatement research in Latin America is sparse, even though they are an important context to study this phenomenon. Chile’s corporate governance regulations are considered exemplars for Latin American countries but its auditing profession is not well developed. Thus, Chile provides an interesting context to study the complementary roles of audit and board governance affecting misstatements. Using a sample of 104 Chilean listed firms over seven years, our study finds that the board links and audit partner tenure negatively affect misstatements. Specifically, given the prevalence of related party transactions (RPTs) in conglomerates, the finding suggests that cross directors monitor high-value RPTs, but that this is not a substitute for auditor expertise. The findings raise questions about the advisability of mandating audit partner rotation to strengthen auditor independence because the results indicate that a short audit partner tenure leads to the auditor not developing client-specific knowledge. The study makes contributions to the corporate governance literature by highlighting that board monitoring is not a good substitute for auditor monitoring of financial reporting integrity, and suggesting the need for having licensing requirements to become an auditor. Full article
(This article belongs to the Special Issue Corporate Governance and Financial Reporting)
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