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Prof. Zabihollah (Zabi) Rezaee
Thompson-Hill Chair of Excellence and Professor of Accounting, Fogelman College of Business and Economics, the University of Memphis, Memphis, TN 38152, USA

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Original article
Published: 14 July 2021 in Business Ethics, the Environment & Responsibility
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This study examines whether the Islamic religious atmosphere of local communities influences audit pricing. We use a comprehensive survey conducted by Iran's Ministry of Culture and Islamic Guidance to measure the Islamic religious atmosphere. Using a sample of 1,204 observations from firms listed in Iran's capital market, we find that firms located in regions with a strong Islamic religious atmosphere pay significantly lower audit fees. Furthermore, the study reveals that family ownership (auditor size) strengthens (weakens) the aforementioned relationship. However, we did not find a significant moderating role for the local community's social capital. We contribute to the ethics literature by providing a better understanding of the economic consequences of the religious atmosphere and offering policy, practical, and educational implications.

ACS Style

Mehdi Khodakarami; Zabihollah Rezaee; Reza Hesarzadeh. Islamic Religious Atmosphere and Audit Pricing: Evidence from Iran. Business Ethics, the Environment & Responsibility 2021, 1 .

AMA Style

Mehdi Khodakarami, Zabihollah Rezaee, Reza Hesarzadeh. Islamic Religious Atmosphere and Audit Pricing: Evidence from Iran. Business Ethics, the Environment & Responsibility. 2021; ():1.

Chicago/Turabian Style

Mehdi Khodakarami; Zabihollah Rezaee; Reza Hesarzadeh. 2021. "Islamic Religious Atmosphere and Audit Pricing: Evidence from Iran." Business Ethics, the Environment & Responsibility , no. : 1.

Journal article
Published: 01 July 2021 in Revista de Contabilidad
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Este estudio examina si la experiencia del director general (CEO) y los conocimientos financieros afectan a las reformulaciones financieras (FR), y cómo lo hacen, investigando una muestra de empresas iraníes que cotizan en bolsa entre 2008 y 2017. Definimos a los consejeros delegados con experiencia como aquellos que son contratados desde dentro de la empresa y a los consejeros delegados expertos en finanzas como aquellos que poseen una cualificación contable o tienen experiencia laboral como auditor, director financiero (CFO), controlador u otros puestos relacionados con la contabilidad. Encontramos que FR está positivamente asociado a los CEOs con información privilegiada (CEOs con más experiencia interna), y negativamente asociado a la experiencia financiera del CEO. Además, encontramos que la experiencia del CEO se asocia negativamente con FR cuando el CEO es un experto financiero. Este resultado pone de manifiesto la importancia de la experiencia financiera de los altos ejecutivos. Además, nuestros resultados muestran que los directores generales con información privilegiada pueden mejorar la calidad de la información financiera reduciendo FR cuando tienen mayor poder de decisión. Este estudio contribuye a la literatura sobre las características de los directores generales y la información financiera. Los resultados ofrecen importantes implicaciones para los responsables políticos y los consejos de administración de las economías emergentes en lo que respecta a la exigencia de nombrar a altos directivos con conocimientos financieros. This study examines whether and how Chief Executive Officer (CEO) experience and financial expertise affect financial restatements (FR) by investigating a sample of Iranian listed companies from 2008 to 2017. We define experienced CEOs as those who are hired from inside the firm and financial expert CEOs as those who hold an accounting qualification or have work experience as an auditor, chief financial officer (CFO), controller, and or other accounting-related positions. We find that FR is positively associated with insider CEOs (CEOs with more internal experience), and negatively associated with CEO financial expertise. Moreover, we find that CEO experience is negatively associated with FR when the CEO is a financial expert. This result highlights the importance of financial background for senior executives. Further, our results show that insider CEOs can improve the financial reporting quality through reducing FR when they have higher decision-making power. This study contributes to the literature on CEO characteristics and financial reporting. The results provide important implications for policymakers and the board of directors in emerging economies regarding the requirement to appoint top managers with financial expertise.

ACS Style

Zabihollah Rezaee; Kaveh Asiaei; Toktam Safdel Delooie. Are CEO experience and financial expertise associated with financial restatements? Revista de Contabilidad 2021, 24, 270 -281.

AMA Style

Zabihollah Rezaee, Kaveh Asiaei, Toktam Safdel Delooie. Are CEO experience and financial expertise associated with financial restatements? Revista de Contabilidad. 2021; 24 (2):270-281.

Chicago/Turabian Style

Zabihollah Rezaee; Kaveh Asiaei; Toktam Safdel Delooie. 2021. "Are CEO experience and financial expertise associated with financial restatements?" Revista de Contabilidad 24, no. 2: 270-281.

Research article
Published: 22 June 2021 in Journal of Accounting, Auditing & Finance
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Management incentives for engaging and excelling in corporate social responsibility (CSR) performance is an important theme as business sustainability gains momentum. We examine the role of tournament incentives, which are created by competition among non-CEO (chief executive officer) senior executives (vice presidents [VPs]) for promotion to the CEO position, in firms’ CSR performance. Using a sample of U.S. Standard & Poor (S&P) 1500 firms from 1993 to 2014, we find that tournament incentives proxied by pay gaps between CEOs and VPs are negatively associated with CSR performance, suggesting that competition for promotion could be detrimental for CSR performance. We further show that such association is more pronounced when the perceived probability of promotion increases prior to CEO turnover. This article provides policy, practical, and education implications and contribute to the literature on the integration of CSR into the business culture and strategic management processes.

ACS Style

Xuezhou (Rachel) Zhao; Gaoguang (Stephen) Zhou; Zabihollah Rezaee. Tournament Incentives and Corporate Social Responsibility Performance. Journal of Accounting, Auditing & Finance 2021, 1 .

AMA Style

Xuezhou (Rachel) Zhao, Gaoguang (Stephen) Zhou, Zabihollah Rezaee. Tournament Incentives and Corporate Social Responsibility Performance. Journal of Accounting, Auditing & Finance. 2021; ():1.

Chicago/Turabian Style

Xuezhou (Rachel) Zhao; Gaoguang (Stephen) Zhou; Zabihollah Rezaee. 2021. "Tournament Incentives and Corporate Social Responsibility Performance." Journal of Accounting, Auditing & Finance , no. : 1.

Journal article
Published: 13 July 2020 in Journal of Corporate Finance
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This paper investigates whether and how business sustainability performance and disclosure factors affect stock price informativeness (SPI). We find that non-financial environmental, social, and governance (ESG) sustainability performance factors are positively associated with idiosyncratic volatility (our proxy for SPI) after controlling for financial-economic performance. We further show that the association between sustainability performance factors and SPI is stronger for firms with higher sustainability disclosure. We find that the association between ESG sustainability performance factors and SPI is stronger when economic performance is weaker, suggesting that investors tend to pay more attention to ESG performance factors when firms are financially underperforming. This study shows that investors pay attention to both firm economic performance (corporate profitability and growth prospect) and ESG sustainability performance and disclosure factors, which have implications for policymakers, regulators, investors, businesses, and researchers.

ACS Style

Anthony Ng; Zabihollah Rezaee. Business sustainability factors and stock price informativeness. Journal of Corporate Finance 2020, 64, 101688 .

AMA Style

Anthony Ng, Zabihollah Rezaee. Business sustainability factors and stock price informativeness. Journal of Corporate Finance. 2020; 64 ():101688.

Chicago/Turabian Style

Anthony Ng; Zabihollah Rezaee. 2020. "Business sustainability factors and stock price informativeness." Journal of Corporate Finance 64, no. : 101688.

Journal article
Published: 12 June 2020 in Sustainability
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Time series models are used to determine relationships, spot patterns, and detect abnormalities and irregularities among data. We explore the application of time series analyses in business research by discussing the differences among correlation, association, and Granger causality and providing insight into their proper use in the sustainability literature. In statistics, two correlation coefficients are typically calculated. The first one is the Pearson correlation coefficient and the second is the Spearman correlation coefficient. In the commonly used correlation analysis (the Pearson and the Spearman correlation coefficients), the focus is primarily on the changes in two variables regardless of the effects of other variables. On the contrary, in association analyses, the researcher examines the relationship between two variables while holding the effects of other related variables constant (ceteris paribus). In the study of the causation, or the cause–effect relationship between two variables, researchers are concerned about the effect of variable X on variable Y. The difficulty of achieving the third condition of causation is believed to be the main reason that in business literature causations are rarely used. The difficulty of achieving a causal relationship between two variables has moved researchers toward a special form of causation called “Granger causality”. We offer practical examples for correlation, association, causation, and the Granger causality and discuss their main differences and show how the use of a linear regression is inappropriate when the true relationship is non-linear. Finally, we discuss the policy, practical, and educational implications of our study.

ACS Style

Zabihollah Rezaee; Sara Aliabadi; Alireza Dorestani; Nick J. Rezaee. Application of Time Series Models in Business Research: Correlation, Association, Causation. Sustainability 2020, 12, 1 .

AMA Style

Zabihollah Rezaee, Sara Aliabadi, Alireza Dorestani, Nick J. Rezaee. Application of Time Series Models in Business Research: Correlation, Association, Causation. Sustainability. 2020; 12 (12):1.

Chicago/Turabian Style

Zabihollah Rezaee; Sara Aliabadi; Alireza Dorestani; Nick J. Rezaee. 2020. "Application of Time Series Models in Business Research: Correlation, Association, Causation." Sustainability 12, no. 12: 1.

Articles
Published: 27 February 2020 in The European Journal of Finance
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We examine the effect of peer firms’ earnings predictability on initial public offering (IPO) underpricing by investigating whether peer firms’ financial characteristics affect IPO pricing and whether the information disseminated by the IPO firm changes product market competition. Analyzing 5,264 IPOs in the 1976–2012 period using data from multiple sources, we find that IPO firms whose peer firms have long-run earnings predictability tend to have lower underpricing compared to those with short-run earnings predictability. Our study makes three central contributions. First, it shows that investors do not consider IPO firms in isolation from their peer firms and that IPO underpricing is highly dependent on peer firms’ earnings characteristics. Second, it demonstrates that the market does not always consider earnings predictability to be a desirable attribute, which has practical implications for regulators and firms. Third, we find that product market competition from peer firms and managerial ability both affect IPO underpricing. These results suggest that investors might interpret short-run peer firms’ earnings predictability as evidence that a majority of the firms in the industry engage in myopic behaviors, while they might interpret long-run peer firms’ earnings predictability as a signal that the majority of firms in the industry have stable cash flows.

ACS Style

Lei Gao; Zabihollah Rezaee; Ji Yu. Peer firms’ earnings predictability and pricing efficiency – evidence from IPOs*. The European Journal of Finance 2020, 26, 1332 -1353.

AMA Style

Lei Gao, Zabihollah Rezaee, Ji Yu. Peer firms’ earnings predictability and pricing efficiency – evidence from IPOs*. The European Journal of Finance. 2020; 26 (13):1332-1353.

Chicago/Turabian Style

Lei Gao; Zabihollah Rezaee; Ji Yu. 2020. "Peer firms’ earnings predictability and pricing efficiency – evidence from IPOs*." The European Journal of Finance 26, no. 13: 1332-1353.

Journal article
Published: 17 May 2019 in Asian Review of Accounting
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Purpose The literature suggests that management discretion to adjust resources in response to changes in sales can create asymmetric cost behavior and management incentives to move stock prices can influence its decision to release management earnings forecasts (MEF). The purpose of this paper is to investigate the association between a firm’s degree of cost stickiness and its propensity to release MEF. The authors propose that both MEF and cost stickiness are influenced by management strategic choices and provide two possible explanations along with supportive evidence. First, when management is optimistic about future performance, it tends to increase both cost stickiness and is willing to disclose the optimistic expectations through MEF. Second, cost stickiness increases information asymmetry between management and investors, thus management tends to issue earnings forecast to mitigate the perceived information asymmetry. Design/methodology/approach The authors collect firm-level fundamental data from the COMPUSTAT database, and market data from the CRSP database during 2005 and 2016. The data used to measure variables related to institutional ownership and financial analysts are, respectively, obtained from the Thomson Reuters and the I/B/E/S databases. The quarterly MEF data are from two databases. The authors obtain the data before 2012 the from Thomson First Call’s Company Issued Guidance database and manually collect the data between 2012 and 2016 from the Bloomberg database for the largest 3,000 publicly traded US companies. The measurement of cost stickiness is based on the industry-level measurement developed by Anderson et al. (2003) and the firm-level measurements developed by Weiss (2010). The authors construct two measurements, management’s propensity to issue MEF and the frequency of MEF, to capture management’s voluntary disclosure strategy. Findings The analyses of a sample between year 2005 and 2016, indicate that the firm-level cost stickiness is positively associated with the firm’s propensity to issue MEF and the frequency of MEF. Moreover, the authors find that the level of cost stickiness is associated with more favorable earnings news forecasted by management. Additional tests suggest that both information asymmetry and managerial optimism may explain the relationship between cost stickiness and MEF. Finally, the authors find that the association between cost stickiness and MEF behaviors is more pronounced when the resource adjustment cost is high and when the firm efficiency is high. The results are robust after using alternative measurements of cost stickiness and MEF. Originality/value First, this paper attempts to build a bridge between managerial accounting and financial accounting by providing evidence of managerial incentives and discretions that affect both cost structure and earnings. The authors contribute to, and complement, prior studies that primarily disentangle the complicated accounting information system by focusing on either the internal information system or the external information system. Second, the paper complements prior studies that examine cost stickiness and its determinants of asymmetric cost behavior by providing additional evidence for the value-relevance of cost stickiness strategy and its link to MEF releases in mitigating information asymmetry. Third, the findings are also relevant to current debates among policymakers, academia and practitioners regarding modernization of mandatory and voluntary disclosures through discussing the managerial incentive behind the managerial disclosure strategies as reflected in MEF releases (SEC, 2013). Fourth, the authors provide evidence regarding management’s role in influencing cost asymmetry and MEF releases, which support the theoretical argument that management discretions affect the firms’ cost structure and MEF disclosures.

ACS Style

Shipeng Han; Zabihollah Rezaee; Ling Tuo. Is cost stickiness associated with management earnings forecasts? Asian Review of Accounting 2019, 28, 173 -211.

AMA Style

Shipeng Han, Zabihollah Rezaee, Ling Tuo. Is cost stickiness associated with management earnings forecasts? Asian Review of Accounting. 2019; 28 (2):173-211.

Chicago/Turabian Style

Shipeng Han; Zabihollah Rezaee; Ling Tuo. 2019. "Is cost stickiness associated with management earnings forecasts?" Asian Review of Accounting 28, no. 2: 173-211.

Journal article
Published: 17 May 2019 in Global Finance Journal
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We examine the association between corporate social responsibility (CSR) and earnings quality using CSR ranking data from Rankins (RKS) and four measures of earnings quality. Using a sample of 2580 Chinese listed firms for fiscal years 2009–2015, with 14,807 firm-year observations, we find that CSR firms and those with higher CSR ratings are less likely to engage in earnings management than non-CSR firms and those with lower CSR ratings, and their earnings are more persistent and more accurately predict future cash flows from operations. State ownership and marketization moderate the relationship between CSR disclosures and earnings quality.

ACS Style

Zabihollah Rezaee; Huan Dou; Huili Zhang. Corporate social responsibility and earnings quality: Evidence from China. Global Finance Journal 2019, 45, 100473 .

AMA Style

Zabihollah Rezaee, Huan Dou, Huili Zhang. Corporate social responsibility and earnings quality: Evidence from China. Global Finance Journal. 2019; 45 ():100473.

Chicago/Turabian Style

Zabihollah Rezaee; Huan Dou; Huili Zhang. 2019. "Corporate social responsibility and earnings quality: Evidence from China." Global Finance Journal 45, no. : 100473.

Journal article
Published: 02 May 2019 in The Quarterly Review of Economics and Finance
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ACS Style

Kingsley O. Olibe; Zabihollah Rezaee; James Flagg; Richard Ott. Corporate diversification, debt maturity structures and firm value: The role of geographic segment data. The Quarterly Review of Economics and Finance 2019, 74, 206 -219.

AMA Style

Kingsley O. Olibe, Zabihollah Rezaee, James Flagg, Richard Ott. Corporate diversification, debt maturity structures and firm value: The role of geographic segment data. The Quarterly Review of Economics and Finance. 2019; 74 ():206-219.

Chicago/Turabian Style

Kingsley O. Olibe; Zabihollah Rezaee; James Flagg; Richard Ott. 2019. "Corporate diversification, debt maturity structures and firm value: The role of geographic segment data." The Quarterly Review of Economics and Finance 74, no. : 206-219.

Journal article
Published: 15 March 2019 in Asian Review of Accounting
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Purpose Jumpstart Our Business Startups Act 2012 (the JOBS Act) was passed in 2012. JOBS Act enables emerging growth companies (EGCs) to go public without being subject to the full vigorous range of regulations applicable to publicly traded companies. The purpose of this paper is to study financial performance, Tobin’s Q-ratio and value relevance of EGCs. Design/methodology/approach The sample includes 620 IPOs during the period from April 5, 2009 to April 5, 2015. The analyses use firm-quarter observations. Findings The results show that EGCs have both lower financial performance, and a lower Tobin’s Q-ratio compared to the financial performance and Tobin’s Q-ratio of non-EGCs. Moreover, the value relevance of accounting information for EGCs is lower than the value relevance of accounting information for non-EGCs. Originality/value This study contributes to the accounting regulation literature by documenting the inferior market performance and financial information quality of EGCs, i.e., the unintended consequences of the JOBS Act.

ACS Style

Ji Yu; Zabihollah Rezaee; Joseph H. Zhang. The accounting and market consequences of the JOBS Act of 2012: an early study. Asian Review of Accounting 2019, 27, 49 -68.

AMA Style

Ji Yu, Zabihollah Rezaee, Joseph H. Zhang. The accounting and market consequences of the JOBS Act of 2012: an early study. Asian Review of Accounting. 2019; 27 (1):49-68.

Chicago/Turabian Style

Ji Yu; Zabihollah Rezaee; Joseph H. Zhang. 2019. "The accounting and market consequences of the JOBS Act of 2012: an early study." Asian Review of Accounting 27, no. 1: 49-68.

Journal article
Published: 04 March 2019 in Managerial Auditing Journal
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Purpose This paper aims to examine the relevance of Big Data to forensic accounting practice and education by gathering opinions from a sample of academics and practitioners in China. Design/methodology/approach The authors conduct a survey of academics and practitioners regarding the desired demand, importance and content of Big Data educational skills and topics for forensic accounting education to effectively respond to challenges and opportunities in the age of Big Data. Findings Results indicate that the demand for and interest in Big Data/data analytics and forensic accounting will continue to increase; Big Data/data analytics and forensic accounting should be integrated into the business curriculum; many of the suggested Big Data topics should be integrated into forensic accounting education; and some attributes and techniques of Big Data are important in improving forensic accounting education and practice. Research limitations/implications Readers should interpret the results with caution because of the sample size (95 academics and 103 practitioners) and responses obtained from academics and practitioners in one country (China) that may not be representative of the global population. Practical implications The results are useful in integrating Big Data topics into the forensic accounting curriculum and in redesigning the forensic accounting courses/programs. Social implications The results have implications for forensic accountants in effectively fulfilling their responsibilities to their profession and society by combating fraud. Originality/value This study provides educational, research and practical implications as Big Data and forensic accounting are advancing.

ACS Style

Zabihollah Rezaee; Jim Wang. Relevance of big data to forensic accounting practice and education. Managerial Auditing Journal 2019, 34, 268 -288.

AMA Style

Zabihollah Rezaee, Jim Wang. Relevance of big data to forensic accounting practice and education. Managerial Auditing Journal. 2019; 34 (3):268-288.

Chicago/Turabian Style

Zabihollah Rezaee; Jim Wang. 2019. "Relevance of big data to forensic accounting practice and education." Managerial Auditing Journal 34, no. 3: 268-288.

Journal article
Published: 20 August 2018 in Journal of Risk and Financial Management
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We explore the relationship between the degree of financial risk disclosure and a firm’s financial attributes. Financial risk disclosure indices (FRDIs) are calculated based on a set of 30 disclosure identifiers through content analysis of the annual reports of 48 manufacturing companies over a six-year period (2010–2015) in Bangladesh. We find no common practice among the companies in disclosing financial risk by integrating a customized financial risk disclosure into their financial reporting process. The results indicate that firm size, financial performance, and auditor type are positively and significantly associated with the level of financial risk disclosure.

ACS Style

Ripon Kumar Dey; Syed Zabid Hossain; Zabihollah Rezaee. Financial Risk Disclosure and Financial Attributes among Publicly Traded Manufacturing Companies: Evidence from Bangladesh. Journal of Risk and Financial Management 2018, 11, 50 .

AMA Style

Ripon Kumar Dey, Syed Zabid Hossain, Zabihollah Rezaee. Financial Risk Disclosure and Financial Attributes among Publicly Traded Manufacturing Companies: Evidence from Bangladesh. Journal of Risk and Financial Management. 2018; 11 (3):50.

Chicago/Turabian Style

Ripon Kumar Dey; Syed Zabid Hossain; Zabihollah Rezaee. 2018. "Financial Risk Disclosure and Financial Attributes among Publicly Traded Manufacturing Companies: Evidence from Bangladesh." Journal of Risk and Financial Management 11, no. 3: 50.

Journal article
Published: 22 January 2018 in Sustainability
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Global business organizations face the challenges of adapting proper sustainability strategies and practices to effectively respond to social, ethical, environmental, and governance issues while improving financial performance in creating value for their shareholders. Business sustainability enables the integration of financial economic sustainability performance and non-financial environmental, social, ethical, and governance sustainability performance dimensions into the corporate culture, supply chain management and business models in creating shared value for all stakeholders. Business literature has provided mixed evidence of the tension, and possible link, between financial and non-financial sustainability performance dimensions and sustainability theories have yet to sufficiently address this tension. This paper attempts to fill this void by shedding light on the link between various dimensions of sustainability performance, their integrated effect on creating shared value for all stakeholders and their implications for supply chain sustainability. This paper examines the synergy between business sustainability and supply chain management by presenting a framework consisting of sustainability theories, sustainability performance dimensions, sustainability shared value concept, and sustainability best practices. Companies can use the suggested framework in integrating both financial and non-financial sustainability initiatives into their supply chain sustainability from production design, purchasing and inbound logistics, and manufacturing process to distribution and outbound logistics.

ACS Style

Zabihollah Rezaee. Supply Chain Management and Business Sustainability Synergy: A Theoretical and Integrated Perspective. Sustainability 2018, 10, 275 .

AMA Style

Zabihollah Rezaee. Supply Chain Management and Business Sustainability Synergy: A Theoretical and Integrated Perspective. Sustainability. 2018; 10 (2):275.

Chicago/Turabian Style

Zabihollah Rezaee. 2018. "Supply Chain Management and Business Sustainability Synergy: A Theoretical and Integrated Perspective." Sustainability 10, no. 2: 275.

Journal article
Published: 01 December 2017 in Advances in Accounting
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ACS Style

Zabihollah Rezaee; Ling Tuo. Voluntary disclosure of non-financial information and its association with sustainability performance. Advances in Accounting 2017, 39, 47 -59.

AMA Style

Zabihollah Rezaee, Ling Tuo. Voluntary disclosure of non-financial information and its association with sustainability performance. Advances in Accounting. 2017; 39 ():47-59.

Chicago/Turabian Style

Zabihollah Rezaee; Ling Tuo. 2017. "Voluntary disclosure of non-financial information and its association with sustainability performance." Advances in Accounting 39, no. : 47-59.

Journal article
Published: 01 November 2017 in Journal of Emerging Technologies in Accounting
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The application of Big Data and time series models is currently at an early stage. This paper examines the relevance and use of time series analyses for Big Data and business analytics by discussing the emergence of Big Data in business, presenting time series models, and providing an example of how time series models can be efficiently and effectively applied in accounting and auditing using Big Data. Using sophisticated Big Data and time series models, millions of transactions can be searched to spot patterns and detect abnormalities and irregularities. The time series model and Big Data analysis presented in this paper provide policy, practical, educational, and research implications. Businesses and management can use our suggested time series model and Big Data analysis in their predictive models of managerial strategies, decisions, and actions. Business schools and accounting programs can integrate the time series model, Big Data, and data analytics into business and accounting education.

ACS Style

Zabihollah Rezaee; Alireza Dorestani; Sara Aliabadi. Application of Time Series Analyses in Big Data: Practical, Research, and Education Implications. Journal of Emerging Technologies in Accounting 2017, 15, 183 -197.

AMA Style

Zabihollah Rezaee, Alireza Dorestani, Sara Aliabadi. Application of Time Series Analyses in Big Data: Practical, Research, and Education Implications. Journal of Emerging Technologies in Accounting. 2017; 15 (1):183-197.

Chicago/Turabian Style

Zabihollah Rezaee; Alireza Dorestani; Sara Aliabadi. 2017. "Application of Time Series Analyses in Big Data: Practical, Research, and Education Implications." Journal of Emerging Technologies in Accounting 15, no. 1: 183-197.

Original paper
Published: 21 April 2017 in Journal of Business Ethics
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Voluntary disclosures of sustainability information have recently received considerable attention by investors, regulators, and public companies in improving reliability and integrity of corporate reporting. We examine the association between the quantity and quality of sustainability disclosures and earnings quality in the context of corporate ethical value and culture. We posit that sustainability disclosures of environmental, social, and governance (ESG) performance reports are linked to earnings quality, because of the importance of both earnings quality and ESG sustainability disclosures to investors and trustworthiness of corporate reporting. We collect our sample of 35,110 firm-year observations between 1999 and 2015. Using both difference-in-difference tests and OLS regression, we find that sustainability disclosure quantity is positively associated with innate earnings quality and negatively correlated with discretionary earnings quality in mitigating managerial earnings manipulation and unethical opportunistic reporting behavior. Further tests illustrate that sustainability disclosure quality can strengthen the positive relation between innate earnings quality and sustainability disclosure quantity and mitigate the negative relation between discretionary earnings quality and sustainability disclosure quantity. Finally, additional tests suggest that the relation between earnings quality and sustainability disclosure quantity is moderated by corporate structure and prior-year sustainability performance. Our results provide policy, practical, and research implications as ESG sustainability reporting is being integrated into corporate culture and business models.

ACS Style

Zabihollah Rezaee; Ling Tuo. Are the Quantity and Quality of Sustainability Disclosures Associated with the Innate and Discretionary Earnings Quality? Journal of Business Ethics 2017, 155, 763 -786.

AMA Style

Zabihollah Rezaee, Ling Tuo. Are the Quantity and Quality of Sustainability Disclosures Associated with the Innate and Discretionary Earnings Quality? Journal of Business Ethics. 2017; 155 (3):763-786.

Chicago/Turabian Style

Zabihollah Rezaee; Ling Tuo. 2017. "Are the Quantity and Quality of Sustainability Disclosures Associated with the Innate and Discretionary Earnings Quality?" Journal of Business Ethics 155, no. 3: 763-786.

Journal article
Published: 01 January 2017 in International Journal of Sustainability Management and Information Technologies
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This paper examines the progress toward business sustainability in Asia in recent years. There are five dimensions of sustainability performance: Economic, Governance, Social, Ethical, and Environmental (EGSEE) and they collectively play an important role in the overall long-term success of business organizations. The role of business corporations in our society has evolved from profit maximization to creating shareholder value and in recent years to create shared value to protect interests of all stakeholders including investors, creditors, employees, customers, suppliers, government, the environment, and society. In today’s business environment, global businesses are under close scrutiny and profound pressure from lawmakers, regulators, the investment community, and their various stakeholders to focus on sustainability measures and accept accountability and responsibility for the five EGSEE dimensions of their performance. Corporate performance is measured not only by the economic sustainability performance but also by a set of non-financial sustainability key performance indicators pertaining to environmental, social, governance, and ethical activities. In this paper, we investigate opportunities and challenges in implementing business sustainability in Asia and the progress toward integrated sustainability performance reporting and assurance. We conclude that much progress has been made in promoting business sustainability performance, reporting and assurance in Asia in recent years. However, much more needs to done in integrating business sustainability performance into business culture and corporate models in Asia. Integrated sustainability reporting and assurance also should be standardized in effectively, consistently, accurately, and reliably communicating all five dimensions of sustainability performance to all stakeholders.

ACS Style

Zabihollah Rezaee; Kevin Zhen; Michael Ha. Progress Toward Business Sustainability in Asia in the Aftermath of 2015 Hong Kong Stock Exchange Requirements. International Journal of Sustainability Management and Information Technologies 2017, 3, 40 .

AMA Style

Zabihollah Rezaee, Kevin Zhen, Michael Ha. Progress Toward Business Sustainability in Asia in the Aftermath of 2015 Hong Kong Stock Exchange Requirements. International Journal of Sustainability Management and Information Technologies. 2017; 3 (4):40.

Chicago/Turabian Style

Zabihollah Rezaee; Kevin Zhen; Michael Ha. 2017. "Progress Toward Business Sustainability in Asia in the Aftermath of 2015 Hong Kong Stock Exchange Requirements." International Journal of Sustainability Management and Information Technologies 3, no. 4: 40.

Journal article
Published: 01 January 2017 in International Journal of Accounting Research
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This paper examines the association between corporate governance, financial distress risk, and firm financial and market performance by using the Corporate Governance in Finance (CGF) Index developed for Chinese firms. We find that the CGF Index is significantly negatively associated with financial distress risk measured by the Zmijewski-score, O-score, and Z-score. We also find that accounting and market performance measures are significantly positively related to the CGF Index. Finally, for the short-window cumulative abnormal returns (CAR), we find that, around the release of CGF Index, the CAR of firms with lower scores are significantly negative, while that of firms with higher CGF Index scores are not significant. Our results provide further support for the important role of corporate governance effectiveness in the financial reporting process in the emerging markets.

ACS Style

Huili Zhang; Huan Dou; Minghua Gao; Zabihollah Rezaee. Does Corporate Governance Matter? Evidence from New Chinese Corporate Governance Disclosures. International Journal of Accounting Research 2017, 05, 1 .

AMA Style

Huili Zhang, Huan Dou, Minghua Gao, Zabihollah Rezaee. Does Corporate Governance Matter? Evidence from New Chinese Corporate Governance Disclosures. International Journal of Accounting Research. 2017; 05 (01):1.

Chicago/Turabian Style

Huili Zhang; Huan Dou; Minghua Gao; Zabihollah Rezaee. 2017. "Does Corporate Governance Matter? Evidence from New Chinese Corporate Governance Disclosures." International Journal of Accounting Research 05, no. 01: 1.

Journal article
Published: 01 June 2016 in Journal of Accounting Literature
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Global investors demand, regulators require, and companies disclose their sustainability performance information, and scholars have started to conduct research on sustainability performance, reporting and assurance. The goal of firm value creation can be achieved when management considers the interests of all stakeholders and integrates all five economic, governance, social, ethical, and environmental (EGSEE) dimensions of sustainability performance into managerial strategies, actions and reporting. This paper provides a synthesis of research on sustainability and presents a theoretical framework consisting of theories and standards relevant to all five EGSEE dimensions of sustainability performance and risks and their integration into corporate culture, business models and reporting in creating stakeholder value.

ACS Style

Zabihollah Rezaee. Business sustainability research: A theoretical and integrated perspective. Journal of Accounting Literature 2016, 36, 48 -64.

AMA Style

Zabihollah Rezaee. Business sustainability research: A theoretical and integrated perspective. Journal of Accounting Literature. 2016; 36 ():48-64.

Chicago/Turabian Style

Zabihollah Rezaee. 2016. "Business sustainability research: A theoretical and integrated perspective." Journal of Accounting Literature 36, no. : 48-64.

Journal article
Published: 01 October 2015 in Journal of Corporate Finance
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ACS Style

Anthony C. Ng; Zabihollah Rezaee. Business sustainability performance and cost of equity capital. Journal of Corporate Finance 2015, 34, 128 -149.

AMA Style

Anthony C. Ng, Zabihollah Rezaee. Business sustainability performance and cost of equity capital. Journal of Corporate Finance. 2015; 34 ():128-149.

Chicago/Turabian Style

Anthony C. Ng; Zabihollah Rezaee. 2015. "Business sustainability performance and cost of equity capital." Journal of Corporate Finance 34, no. : 128-149.