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Start Over Author "Yulong Yang" Journal china journal of accounting studies
3 results on '"Yulong Yang"'

1. Inter-regional M&As, home bias and the post-merger performance

Author

Shuwei Sun, Tusheng Xiao, Yulong Yang, and Xincheng Wang

Subjects
Home bias, post-merger performance, merger premium, integration efficiency, Accounting. Bookkeeping, HF5601-5689, Finance, HG1-9999
Abstract

The under-performance of mergers and acquisitions (M&As) resulting from impairment of goodwill is of great interest to regulators and investors. This study investigates the performance of M&As from the perspective of home bias. The results indicate that (1) Post-merger performance is worse when purchased companies are in high-level executives’ hometowns. (2) When located in the executives’ hometown, listed companies pay higher premiums, and further loss of goodwill occurs in the following years. Integration efficiency after M&As is lower, as reflected in the higher degree of excess employees. (3) Cross-sectional analyses indicate that M&A under-performance only occurs when the province has a low level of market development, listed companies are non-state-owned enterprises, or listed companies’ executives are older. (4) Interactive effect test results suggest that fund holding, analyst following and media coverage can alleviate the negative impact of home bias on long-term performance.

Published
2021
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2. Do critical audit matters signal higher quality of audited financial information? Evidence from asset impairment

Author

Yulong Yang, Xi Wu, and Yujiang Fan

Subjects
Auditor's report, business.industry, media_common.quotation_subject, ComputingMilieux_LEGALASPECTSOFCOMPUTING, Accounting, Audit, General Business, Management and Accounting, ComputingMilieux_MANAGEMENTOFCOMPUTINGANDINFORMATIONSYSTEMS, Financial information, Mandate, Quality (business), Asset (economics), business, media_common
Abstract

Chinese auditing standards mandate the disclosure of critical audit matters (CAMs) in audit reports for all listed companies since 2017. Risk-oriented auditing requires auditors to assess material ...

Published
2019
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3. Are accounting estimate changes associated with an aggressive earnings effect? Empirical evidence

Author

Xi Wu, Zhengfei Lu, and Yulong Yang

Subjects
Economic forces, Earnings response coefficient, Earnings, business.industry, National accounts, media_common.quotation_subject, Accounting, Discretion, General Business, Management and Accounting, Accounting information system, Economics, business, Empirical evidence, Accounts receivable, media_common
Abstract

This study investigates the earnings effect associated with two major types of accounting estimate changes (i.e., revision of the percentage allowance for doubtful accounts receivable and revision of the depreciation rate) made by Chinese listed firms during 2003–2011. We find that the more a firm’s accounting estimate diverges from the industry-level estimate for the same category of assets, the more likely is the firm to change the estimate in convergence with (rather than deviating further from) the industry level in the following period. Moreover, the tendency to converge with the industry-level estimate is significantly stronger for previously aggressive estimates than for previously conservative estimates. These findings are consistent with the notion that management discretion in accounting estimates is restrained by the demand for verifiability of accounting information and the firm’s underlying economic forces, thus overall decreasing the degree of earnings aggressiveness.

Published
2015
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