Accounting Commons^™

Linking Sustainability Performance To Stock Resilience During And After Covid-19 Crisis: Evidence From Southeast Asia, Khalilul Rahman, Retnosari Retnosari, Sanda Patrisia Komalasari, Muhammad Wafiq

Jurnal Akuntansi dan Keuangan Indonesia

Background: The COVID-19 pandemic severely disrupted markets. While sustainability performance measured by ESG scores theoretically buffers against shocks, its efficacy in emerging markets with nascent sustainability frameworks remains underexplored. Method: We analyze a balanced panel of 1,395 observations from 279 non-financial Southeast Asian firms (2020–2024). Using OLS, lagged, and fixed effects models, we compare the impact of sustainability performance on stock resilience during the 2020–2022 and post-pandemic (2023–2024) periods. Findings: Sustainability performance (ESG scores) significantly enhanced stock resilience during the pandemic. However, this protective effect dissipated post-pandemic. Results confirm a statistically significant improvement in overall resilience following the crisis, as …

People Orientation And Thing Orientation In Business Majors: Implications For Assessing The Impacts Of Cross-Functional Business Program Curricula, Todd J. Hostager, David A. Christopher, Kristy J. Lauver, Christopher Knowles

International Journal for Business Education

Background/Introduction/Purpose:  Prior research documented significant differences in people orientation and thing orientation (PTO) based on type of major and sex.  This study examines a set of measures for helping business programs to assess whether they are producing graduates equipped to consider both people and things when making decisions, regardless of their major or sex.

Methods/Design:  Students in a strategic management capstone course spent a single 75-minute session responding to a brief new venture pitch by identifying what types of additional information they would need to decide whether to invest in the business.  Three Likert-scaled options gauged the extent to participant …

Business Responsibility And Sustainability In India : A Comprehensive Analysis Of Brsr Disclosures Of India’S Top 1,000 Listed Companies For Fy 2024–25, Rajeev Ranjan Tripathi, Aditya Gupta, Mohan Krishna, Sonika Gandhi

Monograph and Other Reports

The intersection of capital markets, corporate governance, and sustainable development has, over three decades, given rise to a transformative shift in management practice: the systematic disclosure and evaluation of Environmental, Social, and Governance (ESG) performance. Once confined to niche ethical investment circles, ESG reporting has evolved into a mainstream imperative, shaping investment decisions, regulatory frameworks, and stakeholder expectations across both developed and emerging economies. Today, ESG performance is no longer an addendum to financial reporting but a substantive dimension of enterprise value and long-term organisational legitimacy. India’s ESG reporting journey reflects a trajectory of incremental but decisive policy evolution. The …

Accounting In A Changing Landscape: A Collection Of Case Studies, Rachel K. Rowe

Honors Theses

This thesis comprises six independent yet interconnected case studies that reflect on a range of modern accounting and regulatory topics. These cases were written under the direction of Dr. Victoria Dickinson during two semesters of the Professional Research and Development Thesis Program at the University of Mississippi. The purpose of this class is to provide students with the opportunity to research cases that have real-world applications in the field of accounting.

The first case explores Environmental, Social, and Governance (ESG) issues, emphasizing the increased importance of reporting for them and the growing role of accountants in sustainability assurance. The second …

Final Practicum Thesis And Portfolio From Accy 421: Professional Development Reviewing The Economic Effects Of Maha Initiatives On Conagra Brands Financial Statements And Studies On Business Professionals, Everett B. Heuer

Honors Theses

The purpose of this paper is to investigate the potential legislative changes brought about by Robert F Kennedy Jr. and the “Make America Healthy Again” campaign to uncover possible financial effects to Conagra Brands’ next fiscal year. This was achieved through research on RFK’s opinions on American food culture from sources such as interviews and Senate confirmation hearings. Findings included disapproval of seed oils and artificial food dyes that could affect Conagra Brands’ subsidiaries. After reviewing Conagra Brands’ 10k for the previous fiscal year as well as mission statements and core values, the team developed multiple plans for Conagra Brands …

An Austrian Approach To Accounting Regulation: How Policy Intervention Distorts The Market For Assurance Services, Kyan Howe

Student Scholarship

This thesis applies the causal-realist method of the Austrian School of Economics to the market for assurance services in the United States. The central argument is that post-crisis accounting regulation has systematically distorted the incentive structures of independent public accounting firms in ways regulators do not predict and cannot fully control. Financial crises, properly understood through Austrian Business Cycle Theory, originate in monetary distortions rather than market failure. Post-crisis regulatory responses nonetheless target the profession rather than the underlying distortion, introducing rules that alter the institutional constraints within which auditors exercise professional judgment.

The thesis develops a judgment-based equation of …

Prosocial Ceos And Accounting Manipulation, Mei Feng, Weili Ge, Zhejia Ling, Wei Ting Loh

Research Collection School Of Accountancy

This paper examines the association between chief executive officers’ (CEOs’) prosocial tendency and their firms’ likelihood of accounting manipulation. We measure CEOs’ prosocial tendency based on their involvement with charitable organizations. We find that prosocial CEOs are less likely to engage in accounting manipulation, as proxied by material non-reliance restatements and SEC or DOJ enforcement actions. The effect is more pronounced when CEOs are involved with charities that directly aim to improve the welfare of others and when they face stronger incentives to misreport. These results continue to hold in analyses of changes in CEOs’ prosocial tendency around turnover events. …

Corporate Disclosure Meets Natural Language Processing: Topic Modeling, Disclosure Strategy, And Audit Implications, Wanxin Yu

2026

Corporate disclosures serve as a critical channel for firms to communicate their financial performance, strategic initiatives, and firm-specific risks. In recent years, rapid advances in natural language processing (NLP) have provided powerful new tools for extracting insights from the growing volume and complexity of corporate disclosures. This dissertation consists of three studies that explore how advanced textual analysis can reveal deeper insights into corporate disclosures, managerial behavior, and auditor practices.

The first paper (co-authored) develops a topic-based approach to measuring the substantive content of risk factor disclosures. Using an embedding-based topic modeling framework, we identify 30 interpretable risk topics and …

Carbon Emissions And Greenwashing: Do High Esg Scores Reflect Real Decarbonization?, Alison Steenerson

All Master's Theses

This study examines the relationship between environmental scores, environmental performance, disclosure quality, and firm characteristics using a sample of publicly traded firms observed in 2020 and 2021. A two-stage regression framework was used to separate environmental scores into components explained by observable environmental performance, firm characteristics, disclosure practices, and environmental commitments. Results indicate that emissions intensity has a statistically significant but economically small relationship with environmental scores. In contrast, disclosure quality measures exhibited strong positive associations with environmental scores. Firms reporting emissions, participating in CDP, disclosing emissions targets, and adopting science-based targets received higher environmental scores independent of environmental performance. …

Does Auditor Quality Enhance Csr Disclosure?, Jimmy Lee, Chee Yeow Lim, Gerald J. Lobo, Yanping Xu

Research Collection School Of Accountancy

We investigate the relation between auditor quality and client firms’ corporate social responsibility (CSR) disclosure. Using an international sample of firms from 36 countries over the period 2009–2018 and a measure of the extent of CSR disclosure from Bloomberg, we find strong evidence that client firms with higher quality auditors provide more CSR disclosure. In cross-sectional analyses, we show that the relation between auditor quality and CSR disclosure is accentuated when the information environment is poorer and when the financial reporting environment and the legal institutions are weaker. Lastly, we document that firms with higher quality auditors also exhibit better …

The Investor Perspective Of Materiality, Sam Lessinger

Honors Undergraduate Theses

Often auditors are asked to adopt the reasonable investor perspective in their materiality evaluations however, there is no consensus regarding what investors deem to be material. This can lead to confusion in the markets. In fact, past studies have shown how taking an investor perspective can backfire and may result in more leniency and fewer misstatements being deemed material by auditors. This leniency can, potentially, result in financial statements that mislead investors. The aim of this paper is to address the reasonable investor perspective to achieve a more complete understanding of an investor’s viewpoint. This study also incorporates the effect …

Freedom Of Expression Protection And Corporate Concealment Of Bad News: Evidence From State Anti-Slapp Laws, Jimmy Lee, Shaphan Ng, Il Sun Yoo, Liandong Zhang

Research Collection School Of Accountancy

The protection of free speech enhances the ability of various public stakeholders to disseminate privately observed adverse information about public firms, making it difficult for corporate managers to conceal negative information about their companies. Using the staggered enactment of anti strategic lawsuit against public participation (anti-SLAPP) laws across U.S. states as a shock that strengthens free speech protection, we show that stronger protection is associated with less concealment of bad news. This is evidenced by a lower likelihood of stock price crashes, a decreased probability of accounting fraud, and an increased frequency of firm-initiated negative press releases. These results are …

Investigating The Relationship Between Noun Classes And Plant Folk Taxonomy In Chasu Language Of Kilimanjaro Region In Tanzania, Peter Rabson Mziray

Journal of Humanities and Social Sciences

The current study investigates the relationship between noun classes and plant folk taxonomy in Chasu (G 22). The study focuses on two objectives: the first objective is to describe the plant folk taxonomy in Chasu and the second objective is to determine the relationship between noun classes and plant folk taxonomy in Chasu. Data were collected from rural villages in Same and Mwanga districts by using free listing, field interviews (jungle-walk-and-identify), and written texts containing Chasu plant names. The findings reveal that Chasu folk taxonomy reflects different ethnobotanical categories; including a unique beginner which is mmea/mimea ‘plant(s)’, and three life …

Discussion Of "Csr And Negative Corporate Events: The Moderating Role Of Managerial Overconfidence", Hye Sun Chang

Research Collection School Of Accountancy

Corporate social responsibility (CSR) refers to the notion that firms are accountable not only to shareholders but also to a broader set of stakeholders including customers, employees, creditors, and the communities in which they operate. Although CSR has long been part of corporate discourse, its prominence has grown with the rise of environmental, social, and governance (ESG) concerns. Today’s consumers and stakeholders are increasingly attentive to issues such as climate change, economic inequality, labor rights, and social justice, prompting firms to align their strategies with evolving societal expectations. Building on this increasingly salient backdrop, Chu et al. (2026), hereafter CCT, …

Commentary: Delayed Climate Reporting Requirements Threaten Singapore’S Sustainability Leadership, Jiwei Wang, Holly I. Yang, Liandong Zhang

Research Collection School Of Accountancy

In a commentary by SMU Professor of Accounting (Practice) and Director of Master of Professional Accounting (MPA) and Master of Science in Accounting (MSA) programmes Wang Jiwei, SMU Associate Professor of Accounting, Lee Kong Chian Fellow and Co-Director (Academic Research) of the School of Accountancy Research Centre (SOAR) Holly Yang, and SMU Dean of School of Accountancy and Lee Kong Chian Professor of Accounting Zhang Liandong, they suggested that delaying climate disclosure requirements for small and mid-sized enterprises (SMEs) from 2025 to 2030 could weaken Singapore’s sustainable finance leadership, despite regulators saying the extension would help smaller firms build environmental, …

Unravelling The Nexus Between Corporate Governance And Sustainability Performance: Evidence From India, Malaya Ranjan Mohapatra, Chandra Sekhar Mishra

Bulletin of Monetary Economics and Banking

This research investigates the influence of Corporate Governance (CG) practices on the Sustainability Performance (SP) of Indian non-financial firms. The study, utilizing a balanced panel of 1550 firm-year observations, demonstrates that overall corporate governance score and CEO duality improve sustainability performance. However, the moderation effect indicates that the positive effect of CG practices on SP is compromised when the same person holds both CEO and chairperson positions in a firm. Additionally, the relationship between CG and SP varies based on ownership structure, i.e., group-affiliated and non-group affiliated firms, as well as different industrial sectors, i.e., manufacturing, service, and diversified sectors.

Cybersecurity Risk Disclosure And Regulatory Compliance: Evaluating Market Sensitivity And Disclosure Effectiveness In U.S. Public Companies, Kingsford Brakye, Abdul Basit Karim Adam

Research & Publications

This paper analyzes disclosing cybersecurity risk and regulatory compliance by the U.S. public companies, with reference to the sensitivity of the information in the market and the effectiveness of disclosure. With rising cyber threats, there is mounting pressure on firms to safeguard their financial systems and adhere to rules such as the 2011, 2018, and 2023 guidelines issued by the SEC, which require firms to report incidents in time and to disclose detailed risk management. However, the disclosure is often done in generic, boilerplate terms, and this limits its use by investors and raises the question of transparency. The study …

From Fraud To Future: Accountancy Case Studies On Financial Illusions, Policy Failures, And The Economic Renaissance Of Mississippi’S Broadband Initiative, Hayden Brennan Adams

Honors Theses

This Honors Practicum is a compilation of case studies completed under the supervision of Dr. Victoria Dickenson across two semesters of the course Accountancy 420 — Independent Study. The first semester (Fall 2023) of case studies involved both individual and group case studies examining various geopolitical implications of contemporary accounting, as well as the surge in environmental, social, and governance (ESG) regulations affecting financial reporting. The second semester (Spring 2024) was mostly centered around a collaborative Mississippi economic development proposal project conducted by four other students and myself. In our project, we construct a business plan for a start-up broadband …

The Implications Of Accounting In The Real World, Cayden A. Luke

Honors Theses

This thesis consists of a series of case studies performed throughout the duration of the accountancy 420 class. Each case was connected to a key area of financial reporting, where we learned about a topic and then reflected individually and within groups. As we explored the intricate relationships between finance, economics, policies, and ethics, we were exposed to unsettling insights that led to eye-opening revelations. The China Hustle followed Dan David as his journey led to the discovery of inadequate regulation of the Chinese government in their financial world and the lies that we are fed about our own. This …

Sustainability Reporting On Nonprofit Organizations: A Perception Study On The Level Of Indicator’S Adequacy In Social Action Entities, Ainhoa Saitua Iribar, Javier Corral Lage, Noemi Peña Miguel, Izaskun Ipiñazar Petralanda

Journal of Nonprofit Innovation

The information reported by Nonprofit Organizations (NPO) is a fundamental signal to obtain financing of donors and also legitimacy of its activities in a stakeholder approach. But nowadays, companies and other types of entities are more obliged to provide information on their sustainability performance and risks. By means of a survey in a region of Spain, the purpose of this study is to select the main indicators that apply to Social Action Entities from the Third Sector (SAETS) to hold them accountable for the impact of their activity in social, environmental, and good governance terms. The results will contribute to …

Ireland’S Tax Strategy And The Apple Case: A Growth Engine For The Irish Economy?, Xiaoming Zhang, Jeanne Sumrall

SACAD: Scholarly Activities

Ireland’s corporate tax strategy, marked by notably low effective tax rates, has attracted multinational corporations, especially Apple (Doyle, McCarthy, Tuck, & Barry, 2025).

This research examines Apple's tax practices, including exceptionally low effective tax rates (as low as 0.05% in 2011 and 0.005% in 2014). It's equivalent to earning 1 million dollars while only paying $50 in taxes. Additionally, it evaluates the economic impact of the European Commission's €13 billion tax ruling on Ireland’s growth (Christensen & Clancy, 2018).

Objectives include understanding Apple’s tax avoidance strategies and evaluating their economic effects in Ireland.

Beyond The Disaster Zone: How Disruptive Climate Event Shape Epa Oversight And Firm Behavior, Grace Fan

Research Collection School Of Accountancy

We examine how experiences with disruptive climate events impact the Environmental Protection Agency’s (EPA) monitoring activities and subsequent firm behaviors. Using plausibly exogenous variation in the exposure of EPA regional offices to major hurricanes, we find that exposed EPA regulators increase their monitoring efforts, measured by both inspection frequency and length, at facilities located in their jurisdictions but outside the disaster zone. This effect diminishes over time and is stronger for regulators located closer to the disaster area or experiencing the disaster for the first time. Importantly, the heightened regulatory monitoring following disasters has real effects on regulated facilities–they face …

Comparing Esg Reporting And Market Dynamics In The Technology And Consumer Industries: Analyzing Investor Reactions And Understanding The Future Of Corporate Reporting, Sophia Nguyen

CMC Senior Theses

The increasing emphasis on Environmental, Social, and Governance (ESG) reporting has sparked debate about its influence on market reactions and corporate transparency. This thesis investigates the impact of ESG disclosures on investor behavior and market dynamics within the technology industry specifically, focusing on the correlation between ESG performance and stock price volatility, as well as other financial ratios. This relationship will be compared to those of various companies within the consumer business industry, to determine whether investors have the same reactions towards consumer business companies compared to consumer-facing technology companies and other technology companies. Additionally, the study explores whether investors …

Harvest Gold Distillery, Alexis Mackey, Alexander Grecco, Cole Smith, Maggie Patterson, Blake Benko

Williams Honors College, Honors Research Projects

The goal of our research project is to establish and grow Harvest Gold Distillery: a corn-based liquor distillery in Ohio that aims to produce and sell high-quality spirits while offering unique services that enhance outreach in the community. The motivation behind this business venture is rooted in one of our team member’s family traditions; Alex’s family makes homemade liquors, which has fostered an in-depth understanding of the distillation process. Alex’s firsthand experience with the craft provides a solid foundation, yet we recognize that starting a distillery involves significant challenges and requires thorough research in several functions of business. This project …

Decoding The Dynamics In Financial Fraud, Triana Eva Adiningsih

Jurnal Akuntansi dan Keuangan Indonesia

This empirical study examines fraud for the entire period and then compares it with the latest trends in the five years. This study utilizes extensive data sets to analyze specific aspects of fraud, including causes, types, solutions, and real-world cases. This study conducted a systematic literature review of relevant literature by taking data from Scopus-indexed journals. Vosviewer was used to identify events, and spreadsheet file information was grouped manually. Interestingly, the cheating types of ‘five-year statistics’ and ‘all-time statistics’ show slightly different frequencies. The main research topics focus on money laundering and financial crimes. To explore this further, this report …

Do Commercial Ties Influence Esg Ratings? Evidence From Moody's And S&P, Xuanbo Li, Yun Lou, Liandong Zhang

Research Collection School Of Accountancy

We provide the first evidence that conflicts of interest arising from commercial ties lead to bias in environmental, social, and governance (ESG) ratings. Using the acquisitions of Vigeo Eiris and RobecoSAM by Moody's and S&P as shocks to the commercial ties between ESG rating agencies and their rated firms, we show that, after their acquisitions by the credit rating agencies (CRAs), ESG rating agencies issue higher ratings to existing paying clients of the CRAs. This effect is greater for firms that have more intensive business relationships with the CRAs, but weaker for firms with more transparent ESG disclosures or higher …

Public Enforcement Through Independent Directors, Xiaoxi Li, Pingui Rao, Yong George Yang, Heng Yue

Research Collection School Of Accountancy

We examine how public enforcement and private enforcement interact to contain self-dealing activities in emerging markets. Using data from China, we find that firms receiving comment letters concerning related party transactions (RPTs) from stock exchanges significantly reduce their RPTs in subsequent years. We further find that (1) the subsequent reduction in RPTs is more pronounced when independent directors have higher career or reputation concerns and (2) independent directors are more likely to dissent or resign if their firms do not significantly reduce RPTs after receiving RPT comment letters, especially if they have high reputation concerns. Our study sheds light on …

Can Corporate Sustainability Performance (Csp) Overcome Indonesia's Corporate Debt Problems?, Johnson Ferry Febrian, Nora Sri Hendriyeni

Jurnal Akuntansi dan Keuangan Indonesia

Based on IMF publications (2022), Indonesian companies have a risky debt level that may cause bankruptcy, so companies are required to make leverage adjustments to return the debt to its optimal level. In recent years, corporate sustainability performance (CSP) practices have been proven to improve performance and overcome financial problems such as debt by integrating sustainability aspects into business processes. Based on stakeholder theory and trade-off theory, this study aims to examine the effect of CSP on leverage adjustment and the role of competitive advantage, equity mispricing, profitability, and firm size in moderating this relationship. This study used a sample …

The Effect Of Management Characteristics On Earnings Management Through Perceived Ambiguity In Accounting Standards, Patricia Paramitha Suci, Stella Marissa Permata Fajar

Jurnal Akuntansi dan Keuangan Indonesia

We investigated the influence of management characteristics, specifically narcissism, impulsivity, construal mindset, and Machiavellianism, on perceived ambiguity toward accounting standards and the impact of perceived ambiguity toward accounting standards on earnings management tendencies. We surveyed 116 respondents from undergraduate, master's, and doctoral programs at various universities in Indonesia. We found that construal mindset, impulsivity, and Machiavellianism positively were related to perceived ambiguity toward accounting standards. Perceived ambiguity toward accounting standards has also been shown to affect earnings management tendencies positively. However, we did not find that narcissism was related to perceived ambiguity toward accounting standards. Additionally, we did not find …

When Do Corporate Good Deeds Become A Burden? The Role Of Corporate Social Responsibility Following Negative Events, Changhyun Kim, Yoonseok Zang, Heli Wang, Kate Niu

Research Collection School Of Accountancy

This study investigates the differential roles of corporate social responsibility (CSR) in the context of negative events. By categorizing CSR and negative events by their respective stakeholder groups, primary and secondary stakeholders, we theorize and test differential impacts of CSR and their interaction effects with different types of negative events. We propose that, while CSR toward secondary stakeholders offers the monotonous risk-tempering effect, CSR toward primary stakeholders has heterogeneous effects when facing negative events. Specifically, the effect of CSR toward primary stakeholders varies with the type of negative events. When negative events are associated with secondary stakeholders in the domain …