آیا آزادسازی بازار سهام ، همزمانی قیمت سهام را کاهش می دهد؟ شواهدی از اتصال سهام شانگهای-هنگ کنگ
سال انتشار: 2022 - تعداد صفحات فایل pdf انگلیسی: 14 - تعداد صفحات فایل doc فارسی: 41
در این مطالعه تأثیر آزادسازی بازار سهام بر همزمانی قیمت سهام را با استفاده از سیاست جدید اصلاحی آزادسازی بازار سهام در چین در زمینه متصل کردن بازار سهام شانگهای-هنگ کنگ (SHSC)، به عنوان یک طرح نیمه آزمایشی، بررسی میکنیم. آنالیز تفاوت در تفاوت نشان می دهد که اجرای SHSC به طور معناداری همزمانی قیمت سهام شرکت های واجد شرایط پذیرفته شده در بورس اوراق بهادار شانگهای را کاهش می دهد و این تاثیر عمدتاً در شرکت های پذیرفته شده ای که درجه "باز بودن" آنها کمتر است ،وجود دارد. علاوه بر این، ما اثبات می کنیم که SHSC شفافیت اطلاعات و فراوانی افشاء داوطلبانه را ارتقا می دهد. در نهایت، دریافتیم که SHSC بر همزمانی قیمت سهام شرکت های واجد شرایط پذیرفته شده در بورس اوراق بهادار هنگ کنگ تأثیر نمی گذارد.
کلمات کلیدی: آزادسازی بازار سهام | همزمانی قیمت سهام | اتصال بازار سهام شانگهای-هنگ کنگ | کارایی اطلاعات
|مقاله ترجمه شده|
Efficient biometric-based identity management on the Blockchain for smart industrial applications
مدیریت هویت مبتنی بر بیومتریک کارآمد در Blockchain برای کاربردهای صنعتی هوشمند-2021
In this work, we propose a new Blockchain-based Identity Management system for smart industry. First, we describe an efficient biometric-based anonymous credential scheme, which supports selective disclosure, suspension/thaw and revocation of credentials/entities. Our system provides non-transferability through a freshly computed hidden biometric attribute, which is generated using a secure fuzzy extractor during each authentication. This mechanism combined with offchain storage guarantees GDPR compliance, which is required for protecting user’s data. We define blinded (Brands) DLRep scheme to provide multi-show unlinkability, which is a lacking feature in Brands’ credential based systems. For larger organizations, we re-design the system by replacing the Merkle Tree with an accumulator to improve scalability. The new system enables auditing by adapting the standard Industrial IoT (IIoT) Identity Management Lifecycle to Blockchain. Finally, we show that the new proposal outperforms BASS, i.e. the most recent blockchain-based anonymous credential scheme designed for smart industry. The computational cost at the user-side (can be a weak IoT device) of our scheme is 8-times less than that of BASS. Thus, our system is more suitable for IIoT.© 2020 Elsevier B.V. All rights reserved.
Keywords: Identity management | Smart industry | Blockchain | Non-transferability | Biometrics | DLRep | Multi-show unlinkability | Selective disclosure | Accumulators
Social movements, identity and disruption in organizational fields: Accounting for farm animal welfare
جنبش های اجتماعی، هویت و اختلال در زمینه های سازمانی: حسابداری برای رفاه حیوانات مزرعه-2021
In this study we provide evidence on how accounting disclosures can motivate social movement organizations (SMOs) to create a new source of normativity in an organizational field, to impact upon firms through identity, image and culture. The source of normativity, the Business Benchmark on Farm Animal Welfare (BBFAW), was created as a means of accounting for farm animal welfare by food companies. Working at the intersection of theories relating to organizational fields, social movements and organizational identity, we investigate how the SMOs create the conditions for change through their framing of farm animal welfare, collective action and the mobilization of resources. Ideas such as institutional agency and institutional control are introduced to explain the power dynamics that enable change. By interpreting the organizational field as a relational space, identity, self-interest and intermittently-active fields provide further constructs to explain behaviour. Evidence from BBFAW reports and publications demonstrates how the NGOs employed a multi-period strategy to effect change. A longitudinal company case study provides an illustration of the cascade of the movement, demonstrating that there is more than an alignment of accounting disclosures. New business opportunities arise, requiring a realignment of strategy, a redesign of organizational architecture and participation of stakeholders. We illustrate our findings through the creation of a framework which could be employed more widely to study of sources of normativity in a relational field. This paper shows that accounting disclosures have a role to play in creating a new normativity that generates social change.
keywords: رفاه حیوانات | هویت | هنجار | فیلترهای سازمانی و جنبش های اجتماعی | Animal welfare | Identity | Normativity | Organizational ﬁelds and social movements
Framing accounting for goodwill: Intractable controversies between users and standard setters
فریم کردن حسابداری برای حسن نیت: اختلافات قابل انعطاف بین کاربران و برنامه های استاندارد-2021
How to account for goodwill arising from business combinations has proven to be one the most controversial topics for the standardisation, preparation, and audit of financial reports. Given its contested nature, and recent debates about improper goodwill accounting by failing companies, standard setters are currently reconsidering existing recognition, measurement, and disclosure requirements. In this study, we explore the views of a relatively neglected group of stakeholders in the financial reporting policy-making arena – financial statement users. We draw on empirical evidence from interviews with financial analysts and from responses by analysts to IASB and EFRAG consultations. We mobilise framing theory as used in public policy studies to analyse how users make sense of goodwill accounting information as compared to standard setters. Our key finding is the plurality of colliding frames between users and standard setters that remain intractable. Our analysis reveals that users’ interest in management’s accountability on acquisi- tions cannot fit easily into the financial reporting frame. Not only are claims by standard setters about the value relevance of goodwill impairments found not to be experienced in practice, but also we discover that users question the benefits of standard setters working in this area, while they take recourse to ‘street numbers’ for their analysis. We interpret the intractability we discover as putting into question public policy claims that accounting policies are developed with a commitment to serve the public interest.
keywords: IFRS | حسن نیت | آنالیز مالی | کادر بندی | IFRS | Goodwill | Financial analysis | Framing
Modern slavery statements: From regulation to substantive supply chain reporting
اظهارات برده داری مدرن: از مقررات گرفته تا گزارش زنجیره تأمین اساسی-2021
Recent years have seen a renewed focus on labor standards in the supply chain, prompted by legislation that requires firms to provide an account of their efforts to combat modern slavery. However, as a common problem of non-financial disclosure regulation, companies can decide the extent and content of their reporting, which could potentially result in merely symbolic disclosures with little substance. We examine the disclosure of substantive actions in modern slavery statements, defined as those disclosures of corporate actions that can positively affect working conditions in supply chains. We examine the corporate disclosure of these actions over time in order to evaluate whether legally mandated disclosure requirements could lead to progress in combatting modern slavery. For this purpose, we collected modern slavery statements from companies that had issued such statements for at least two different years after the
Keywords: Modern slavery statements | Social sustainability | Substantive disclosures | CSR Disclosures | Legitimacy theory | Content analysis
Sustainable supply chain management considering technology investments and government intervention
مدیریت پایدار زنجیره تأمین با در نظر گرفتن سرمایه گذاری های فن آوری و مداخلات دولت-2021
With the aggravation of the global environmental crisis, consumers are keen to use green products, and enterprises are more committed to technology investment and innovation to meet consumers’ green preferences. This study considers a supply chain system composed of one manufacturer and one retailer, where the manufacturer invests in green emission reduction technology (GERT) to reduce carbon emissions, and the retailer invests in information disclosure technology to transmit the higher greenness quality of products to consumers. We discuss the technology investment decisions and cooperation strategies between the manufacturer and the retailer, as well as the impacts of government regulations on supply chain members’ decisions. We consider three scenarios: decentralized, government intervention, and cost sharing and government intervention. We derive the optimal technology investment decisions of the manufacturer and retailer. In addition, we identify the conditions for the manufacturer to subsidize the retailer’s disclosure technology costs. The results show that a higher emission reduction subsidy encourages GERT investments and increases supply chain members’ profits. However, when the government sets a higher emission reduction standard, the subsidy neither increases the emission reduction nor benefits the retailer, and hurts the manufacturer’s profit. We also demonstrate that when there is cost sharing and government intervention, emission reduction and supply chain performance are always better than in the other scenarios.
Keywords: Emission reduction | Information disclosure | Technology investments | Government intervention | Sustainable supply chain management
The impact of banking regulations and accounting standards on estimating discretionary loan loss provisions
تأثیر مقررات بانکی و استانداردهای حسابداری بر برآورد ذخایر زیان وام اختیاری-2021
Loan loss provisions (LLP) are relatively large accruals for commercial banks (Ahmed et al., 1999), and therefore, have a significant impact on banks’ earnings and regulatory capital. Moreover, LLP are one of the leading accounting disclosure items that offer a substantial scope of discretion to managers (Moyer, 1990). The discretionary nature of LLP makes them particularly useful in examining the impact of regulations on managerial behaviour (Kim and Kross, 1998). The main objective of LLP is to modify the banks’ loan loss reserves to reflect the expected future losses in the banks’ loan portfolio. However, prior evidence suggests that managers employ LLP to (a) manage earnings (b) manage regulatory capital, and (c) as a signal to communicate their private information to investors about future prospects (Bushman and Williams, 2012; Elliott et al., 1991; Moyer, 1990; Scholes et al., 1990). Several models have been proposed in the banking literature to estimate the expected LLP and identify the discretionary component. These models include Wahlen (1994), Beatty et al. (1995), Beaver and Engel (1996), Kim and Kross (1998), Ahmed et al. (1999), Liu and Ryan (2006), Kanagaretnam et al. (2010), Bushman and Williams (2012), Beck and Narayanmoorthy (2013), Bouvatier et al. (2014),
keywords: تامین ضرر وام | ارائه اختیاری | دارایی غیرفعال | اقلام تعهدی | رفتار مدیریتی | رویکرد متحمل ضرر | Loan loss provision | Discretionary provision | Nonperforming asset | Accruals | Managerial behaviour | Incurred-loss approach
A dataset for accounting, finance and economics research on US data breaches
یک مجموعه داده برای حسابداری، مالی و تحقیقات اقتصاد در مورد نقض داده های ایالات متحده-2021
This data article describes a dataset of data breaches in US listed firms over a ten-year period. Data breaches represent major events that pose serious challenges to organisations. The number of incidents has been on the increase over the last decade and this has attracted the interest of the media, consumers and regulators. While there is a well-established literature on cybersecurity in Computer Science and Information Systems journals, studies exploring the economic and business impacts of data breaches represent a relatively recent phenomenon. There is a nascent but fast-growing literature in accounting, finance and economics that focuses on the financial impacts of data breaches and this dataset provides a useful resource for future studies in this space. By providing data on the company identifier, the type of breach, the dates of breach disclosure, and relates these dates to the company’s fiscal year, the dataset can be merged quickly with existing accounting and finance datasets. The dataset includes data on 506 incidents over a ten-year period thereby enabling cross-sectional and longitudinal analyses.
Keywords: Cyber security | Data breaches | Finance | Accounting | Event study
Accounting and auditing of credit loss estimates: The hard and the soft
حسابداری و حسابرسی تخمین زیان اعتباری: سخت و نرم-2021
A key goal of financial reporting is to address information asymmetries, which are amplified in the case of banks given their credit, maturity and liquidity transformation and complex, judgmental accounting standards dealing with expected credit losses (ECL). The paper explores the role of bank management in estimating and recognizing ECL, and how external auditors challenge the resulting figures. Based on analysis of G-SIB disclosures, it concludes that management and auditors tend to prioritize observable and verifiable, hard information to reduce challenge to their reported estimates and protect against the threat of legal liability. Emphasis on such information facilitates loss deferral, damaging the reliability of banks’ financial reporting, obscuring their safety and soundness picture and jeopardizing financial stability. Based on these conclusions, the paper seeks to open a new path to the research and policy analysis of credit loss recognition, introducing proposals to address the procyclicality of credit loss accounting by tackling inappropriate incentives that decouple risk taking from its translation onto banks’ financial statements.
keywords: انتظارات اعتباری انتظار می رود | عدم تقارن اطلاعات | افشای | عوارض جانبی | ثبات اقتصادی | پروسیکیت | Expected Credit Losses | Information asymmetries | Disclosures | Externalities | Financial stability | Procyclicality
Corporate accounting information disclosure based on FPGA and neural network
افشای اطلاعات حسابداری شرکت بر اساس FPGA و شبکه عصبی-2021
Corporate accounting information is a measure of the company’s accounting and external reporting systems. It is routinely disclosed, which is quantitative data on its financial position and performance audit. The corporate accounting information system contains confidential information that needs to be secured. The consequences of unauthorized access are data loss from identity theft issues. To solve the problem, encrypt and decrypt the sensitive corporate accounting information and product the data using the proposed algorithm Neural Network (NN) and Field Programmable Gate Array (FPGA) is used to classify the corporate accounting information authorized person and unauthorized person. When one authorized user accesses the corporate account infor- mation, it generates the secret critical process. The proposed algorithm unauthorized person cannot access the information is not allowed for stealing. Encryption is the process of converting to something as random and meaningless as direct text data. Decryption is the process of restoring the ciphertext plaintext.
keywords: اطلاعات حسابداری شرکت | شبکه عصبی (NN) | fpga | فرد مجاز | شخص غیر مجاز | رمزگذاری | رمزگشایی | Corporate accounting information | Neural network (NN) | FPGA | Authorized person | Unauthorized person | Encryption | Decryption