The popularity of the ESG investment necessitates enterprises to concentrate on sustainability values and governance capabilities. The burgeoning green bond market provides opportunities for a growing number of enterprises to achieve green transformations. Utilizing green bond issuance data from...

Tax avoidance is considered as old as taxation itself, and is traditionally viewed as being in the interest of shareholders since its aim is to reduce the firm’s cost structure. However, researchers have empirically found that corporate tax avoidance does not necessarily increase firm value as...

Using listed firms’ data between 2004 to 2011, we find China’s first Antimonopoly Law provokes significant increase in firms’ cash holding efficiency in the sense that cash holding is more aligned with firms’ investment opportunities. We show that the increase in cash holding management...

Environmental, Social and Governance (ESG) ratings are widely recognised methods to assess the sustainability practices of corporations. However, the scores of these ratings are not satisfactory in emerging market economies. This study examines the financial factors that influence ESG ratings...

This paper represents the first study to examine the relationship between ESG initiatives and firm value for almost all Japanese listed firms. By constructing our unique AI-based ESG (Environmental Social Governance) scores that have higher coverage than existing ESG scores, we score and analyze...

The Telephone Organisation of Thailand (TOT) and the CAT Telecom Public Company Limited (CAT) were two of Thailand's largest state enterprises in telecommunication. However, since there has been much competition among telecom businesses in Thailand during the past decade, the two operators were...

The accounting treatment of cryptoassets is based on Practical Solution No. 38 Accounting for Virtual Currencies under the Funds Settlement Act ("Practical Solution"), which was published by the Accounting Standards Board of Japan in 2018.The PITF was pioneered before the IFRS and US GAAP...

Based on the natural event of pilot of local officials' accountability audit of natural resources, this paper empirically studies the impact of pilot on total factor productivity of enterprises. The results show that the pilot significantly reduces the total factor productivity of enterprises in...

This study examines the phenomenon of corruption fraud proxied by earning management in companies listed on the Indonesia Stock Exchange. This study uses the variables of leverage, capital expenditure, and profitability as key variables influencing earning management practices that lead to fraud...

While cross listing is an integral part of firm visibility, no attention has been paid to domestic market institutional environment and microstructure of investor behaviour after financial market integration. This study examines the relationship between domestic market institutional quality and...