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Accounting narratives and impression management on social media / Nieves Carrera, Tashfeen Sohail, Salvador Carmona
// Accounting and Business Research Volume 47, 2017 - Issue 6 2017. We draw on social capital theory to examine the relationship between audit committee (AC) members’ social capital and financial reporting quality. Using US data for the period 2001–2010, our results suggest that non-AC directors’ social capital does not appear to be relevant to financial reporting quality. As far as AC members are concerned, our findings show a negative relationship between their social capital and financial reporting quality, suggesting a ‘dark side’ to social capital. Specifically, we find that sitting in multiple ACs (centrality) has a negative impact on reporting quality only for those AC members designated as financial experts. When other proxies for social capital are considered (connectedness, brokerage position and strong ties), our results show that the quality of financial reporting significantly decreases with the social capital of non-financial experts sitting in the AC. We contribute to prior research by: (i) relying on social capital theory, which is widely neglected in accounting research, (ii) using multiple metrics to capture the complex dimensions of social capital, and (iii) discriminating between the effects of financial and non-financial experts’ social capital on reporting quality. Our results suggest policy-makers might wish to limit financial experts’ multiple directorships as well as assess the actual contribution of non-financial experts to AC effectiveness.
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Audit committees’ social capital and financial reporting quality/ Nieves Carrera, Tashfeen Sohail, Salvador Carmona
// Accounting and Business Research vol.47, no. 6/2017 2017.p. 633 - 672. We draw on social capital theory to examine the relationship between audit committee (AC) members’ social capital and financial reporting quality. Using US data for the period 2001–2010, our results suggest that non-AC directors’ social capital does not appear to be relevant to financial reporting quality. As far as AC members are concerned, our findings show a negative relationship between their social capital and financial reporting quality, suggesting a ‘dark side’ to social capital. Specifically, we find that sitting in multiple ACs (centrality) has a negative impact on reporting quality only for those AC members designated as financial experts. When other proxies for social capital are considered (connectedness, brokerage position and strong ties), our results show that the quality of financial reporting significantly decreases with the social capital of non-financial experts sitting in the AC. We contribute to prior research by: (i) relying on social capital theory, which is widely neglected in accounting research, (ii) using multiple metrics to capture the complex dimensions of social capital, and (iii) discriminating between the effects of financial and non-financial experts’ social capital on reporting quality. Our results suggest policy-makers might wish to limit financial experts’ multiple directorships as well as assess the actual contribution of non-financial experts to AC effectiveness.
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Changes in Social Capital: A Case Study of Collective Rice Farming Practices in the Mekong Delta, Vietnam / Le Anh Tuan, Alison Cottrell, David King.
// Journal of Vietnamese Studies 2014, Vol. 9, No. 2 2014p. 68 - 99. This paper describes how the social capital of rice farmers of the Mekong Delta of Vietnam, as manifested in the tradition of collective farming practice, has changed. Collective rice farming persisted for decades, irrespective of critical events that challenged its continuation, due to two key factors: the high need for collective farming to ensure subsistence, and the availability of a closely knit social network that facilitated the exchange of labor. Despite its longevity, the practice of collective farming, particularly in terms of labor exchange and mutual aid in farming activities, has not been maintained under current agrarian reforms. Land reform, increased mechanization, and shortened crop cycles leading to labor shortages have all resulted in individualized rice farming, making mobilization for spontaneous collective action at the community level challenging.
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Money laundering and audit fees / Ahsan Habib, Mostafa Monzur Hasan, Ahmed Al Hadi.
// Accounting and Business Research Vol.48, No.4 2017.p. .427-459. We investigate the association between state-level money laundering sentences and audit fees in the US. Money laundering measures a broad category of offenses involving financial transactions using funds or monetary instruments gained through criminal activities and tax evasion. We find that firms headquartered in US states with high rates of money laundering sentences pay more audit fees. Our results suggest that auditors incorporate, as a fee premium, the higher risks involved when clients operate in those states. Our result remains robust to alternative specifications of money laundering proxies, and to the inclusion of a number of firm-level and state-level control variables. We also conduct two-stage least squares and propensity score matching analysis to mitigate the endogeneity problem that might arise from omitted variables, reverse causality, or model misspecification problems.
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