Audit Quality and Stock Return Co-Movement: Evidence from Vietnam |
PHAM, Chi Bich Thi
(Accounting and Finance Department, National Economics University)
VU, Thu Minh Thi (School of Accounting and Auditing, National Economics University) NGUYEN, Linh Ha (School of Accounting and Auditing, National Economics University) NGUYEN, Dung Duc (School of Accounting and Auditing, National Economics University) |
1 | Gul, F., Kim, J., & Qiu, A. (2010). Ownership concentration, foreign shareholding, audit quality, and stock price synchronicity: Evidence from China. Journal of Financial Economics, 95(3), 425-442.https://doi.org/10.1016/j.jfineco.2009.11.005 DOI |
2 | Haggard, K., Martin, X., & Pereira, R. (2008). Does Voluntary Disclosure Improve Stock Price Informativeness? Financial Management, 37(4), 747-768.https://doi.org/10.1111/j.1755-053X.2008.00033.x DOI |
3 | Hu, C., &Liu, S.(2013). The Implications of Low R2: Evidence from China. Emerging Markets Finance and Trade,49(1), 17-32. https://doi.org/10.2753/REE1540-496X490102 DOI |
4 | Hussainey, K. (2009). The impact of audit quality on earnings predictability. Managerial Auditing Journal, 24(4), 340-351. https://doi.org/10.1108/02686900910948189 DOI |
5 | Hutton, A.P., Marcus, A.J., Tehranian, H. (2009). Opaque financial reports, R2, and crash risk. Journal of Financial Economics,94, 67-86. [https://doi.org/10.1016/j.jfineco.2008.10.003 DOI |
6 | Jin, L., and Myers, S. (2006). R2 Around the World: New Theory and New Tests. Journal of Financial Economics,79, 257-292. https://doi.org/10.1016/j.jfineco.2004.11.003 DOI |
7 | Kelly, P. (2014). Information efficiency and firm-specific return variation.Quarterly Journal of Finance,4, 1450018. https://doi.org/10.1142/S2010139214500189 DOI |
8 | Kim, J.B., Chung, R.,& Firth, M. (2003). Auditor conservatism, asymmetric monitoring and earnings management. Contemporary Accounting Research, 20, 325-359. https://doi.org/10.1506/J29K-MRUA-0APP-YJ6V |
9 | Legoria, J., Reichelt, K.J., & Soileau, J.S. (2017). Auditors and disclosure quality: The case of major customerdisclosures. Auditing: A Journal of Practice & Theory, 37(3), 163-189. https://doi.org/10.2308/ajpt-51835 DOI |
10 | Fernandes, N., and Ferreira M. (2009). Insider Trading Laws and Stock Price Informativeness. The Review of Financial Studies, 22(5), 1845-887. https://doi.org/10.1093/rfs/hhn066 DOI |
11 | Roll, R. (1988). R2. Journal of Finance,43, 541-566. https://doi.org/10.1111/j.1540-6261.1988.tb04591.x DOI |
12 | Wachid, F., & Yunita, D. (2019). The disclosure of financial and non-financial performance via narrative communication: Islamic Bank Annual Report. Sebelas Maret Business Review, 4(2), 77-92. https://doi.org/10.20961/smbr.v4i2.36042 DOI |
13 | Almarayeh, T., Aibar-Guzman, B., & Abdullatif, M. (2020). Does audit quality influence earningsmanagement in emerging markets? Evidence from Jordan. Revista De Contabilidad, 23(1), 64-74.https://doi.org/10.6018/rcsar.365091 DOI |
14 | Anh,N., Thu,V.,& Quynh,D.(2020). Corporate Governance and Stock Price Synchronicity: Empirical Evidence from Vietnam. International Journal of Financial Studies,8(2), 1-13.https://doi.org/10.3390/ijfs8020022 DOI |
15 | Bertrand, M., Mehta, P., & Mullainathan, S. (2002). Ferreting Out Tunneling: An Application to Indian Business Groups. The Quarterly Journal of Economics, 117(1), 121-148. https://doi.org/10.1162/003355302753399463 DOI |
16 | Mansi, S.A., Maxwell, W.F. and Miller, D.P. (2004). Does auditor quality and tenure matter to investors? Evidence from the bondmarket.Journal of Accounting Research, 42(4), 755-793. https://doi.org/10.1111/j.1475-679X.2004.00156.x DOI |
17 | Morck, R., Yeung, B., & Yu, W. (2000). The information content of stock markets: Why do emerging markets have synchronous stock price movements?.Journal of Financial Economics, 58(1), 215-260.https://doi.org/10.1016/S0304-405X(00)00071-4 DOI |
18 | Ntow-Gyamfi, M., Bokpin, G., & Gemegah, A. (2015). Corporate governance and transparency: Evidence from stock return synchronicity. Journal of Financial Economic Policy, 7(2), 157-179.https://doi.org/10.1108/JFEP-10-2013-0055 DOI |
19 | Piotroski, J., & Roulstone, D. (2004). The Influence of Analysts, Institutional Investors, and Insiders on the Incorporation of Market, Industry, and Firm-Specific Information into Stock Prices. The Accounting Review, 79(4), 1119-1151. https://doi.org/10.2308/accr.2004.79.4.1119 DOI |
20 | Rahman, M. M., Meah, M. R., & Chaudhory, N. U. (2019). The Impact of Audit Characteristics on Firm Performance: An Empirical Study from an Emerging Economy. Journal of Asian Finance, Economics and Business, 6(1), 59-69.http://doi.org/10.13106/jafeb.2019.vol6.no1.59 DOI |
21 | Salehi, M., Moradi, M., & Paiydarmanesh, N. (2017). The effect of corporate governance and audit quality ondisclosure quality: Evidence from Tehran Stock Exchange. Periodica Polytechnica Social and Management Sciences, 25(1), 32-48. https://doi.org/10.3311/PPso.8354 DOI |
22 | Vo, X. (2017). Do foreign investors improve stock price informativeness in emerging equity markets? Evidence from Vietnam. Research in International Business and Finance,42, 986-991. https://doi.org/10.1016/j.ribaf.2017.07.032 DOI |
23 | Chan, K.,& Hameed, A. (2006). Stock price synchronicity and analyst coverage in emerging markets. Journal of Financial Economics,80(1), 115-147. https://doi.org/10.1016/j.jfineco.2005.03.010 DOI |
24 | Boubaker, S., Mansali, H., & Rjiba, H. (2014). Large controlling shareholders and stock price synchronicity. Journal of Banking and Finance, 40(1), 80-96.https://doi.org/10.1016/j.jbankfin.2013.11.022 DOI |
25 | Chae, S. J., Nakano, M., & Fujitani, R. (2020). Financial reporting opacity, audit quality and crash risk: Evidence from Japan. Journal of Asian Finance, Economics and Business, 7(1), 9-17. https://doi.org/10.13106/jafeb.2020.vol7.no1.9 DOI |
26 | Chan, K.,& Chan, Y.C. (2014). Price informativeness and stock return synchronicity: Evidence from the pricing of seasoned equity offerings. Journal of Financial Economics, 114(1), 36-53. https://doi.org/10.1016/j.jfineco.2014.07.002 DOI |
27 | Chen, K. C., & Yuan, H. (2004). Earnings management and capital resource allocation: Evidence from China's accounting-based regulation of rights issues. Accounting Review, 79(3), 645-665. https://doi.org/10.2308/accr.2004.79.3.645 DOI |
28 | Cohen, D., Dey, A., & Lys, T. (2008). Real and accrual-based earnings management in the pre and post-Sarbanes- Oxley periods. The Accounting Review, 83(3), 757-787. https://doi.org/10.2308/accr.2008.83.3.757 DOI |
29 | DeAngelo, L. (1981). Auditor size and audit quality.Journal of Accounting and Economics, 3(3),183-199.https://doi.org/10.1016/0165-4101(81)90002-1 DOI |
30 | Dasgupta, S., Gan, J., & Gao, N. (2010). Transparency, Price Informativeness, and Stock Return Synchronicity: Theory and Evidence. Journal of Financial and Quantitative Analysis, 45(5), 1189-1220.https://doi.org/10.1017/S0022109010000505 DOI |
31 | Farooq, O., &Ahmed, S. (2014). Stock Price Synchronicity and Corporate Governance Mechanisms: Evidence from an Emerging Market. International Journal of Accounting, Auditing and Performance Evaluation,10(4), 395-409. https://doi.org/10.1504/IJAAPE.2014.066392 DOI |