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This study analyzes whether International Financial Reporting Standards (IFRS) adoption and the presence of Big Four auditors affect the earnings quality of UK private small and medium-sized enterprises (SMEs). Using data covering 2011–2018, we show that IFRS adoption is not significantly associated with earnings quality. This may be because SMEs' smaller size and simpler business model mean that only a few accounting rules are relevant for them. The high quality of UK domestic accounting standards may also explain this result. Furthermore, we find that the presence of Big Four auditors results in lower earnings quality, in contrast to prior research results. The advisory role played by Big Four auditors for SMEs and UK tax authorities' less monitoring of financial statements may contribute to this result. Our findings offer new insights into the potential impact of IFRS adoption on private SMEs' earnings quality and suggest that policymakers aiming to enhance earnings quality should carefully consider the advisory role of auditors in SMEs' financial reporting. [ABSTRACT FROM AUTHOR]

Synopsis The research problem This paper examined whether firms' decision to switch from the International Financial Reporting Standards (IFRS) to the new Generally Accepted Accounting Practice in the United Kingdom (New UK GAAP) affects their audit fees. Motivation The New UK GAAP was introduced by the UK regulators to enhance the comparability of financial reports and to reduce the high financial reporting costs associated with IFRS. We aimed to provide evidence on whether the reduced frameworks of IFRS, like the New UK GAAP, are a more cost-effective option. Furthermore, only very few studies analyzed the impact of abandoning IFRS on audit fees, and these found inconsistent results using the public firm data. We aimed to extend the current literature by using the private firm data. The test hypotheses Our first set of hypotheses considered whether the switch from IFRS to the New UK GAAP is associated with audit fees. Our second hypothesis tested whether there is a difference in any such association between larger and smaller firms. Target population We focused on the UK private (i.e., nonlisted) firms that have previously voluntarily adopted the IFRS. Adopted methodology We used regression analyses, difference-in-differences (DID) analyses, various matching methods for robustness, and analyses of firms' financial reports. Analyses Using the UK private (i.e., nonlisted) firm data for the period 2014–2019, we examined the impact of switching from IFRS to the New UK GAAP on audit fees. The data for regression and DID analyses were obtained from the FAME database. We also downloaded the financial reports of two firms from Companies House to analyze the differences in their reports before and after the switch to the New UK GAAP. Findings We found that firms' decision to switch from IFRS to the New UK GAAP significantly reduced their audit fees, with larger firms experiencing an additional reduction in their audit fees following the switch. Through examining the real examples of firms' financial reports, we found consistent evidence that firms turning away from IFRS did take advantage of the disclosure exemptions contained within the New UK GAAP, resulting in reduced disclosure, which may explain the reduced audit fees. Overall, our findings suggest that using full IFRS may still be burdensome for the sampled firms that previously voluntarily adopted the IFRS. The findings also imply that an accounting standard consistent with IFRS but requiring less disclosure, such as the New UK GAAP or the IFRS for Small and Medium-sized Entities, may be welcomed by practitioners and represents a useful alternative for standard setters. [ABSTRACT FROM AUTHOR]

SYNOPSIS: Extant accounting research based on data from the United States, Europe, and Australia finds that increases in carbon emissions are associated with lower firm value. However, recent research indicates that investor perspectives on corporate social responsibility (CSR) in other parts of the world differ from those of Western investors. This study investigates whether increases in carbon emissions, as one indicator of poor CSR performance, are also associated with a lower firm value in Taiwan. Using carbon disclosure data from Taiwanese-listed companies between 2012 and 2016, we find that firm value is positively associated with carbon emissions, which contrasts with the findings of extant research. Likewise, firm value is not associated with a combined measure of financial information and carbon emissions in Taiwan. Our findings suggest that international generalizations of the findings of the extant research on the relationship between carbon emissions and firm value should be undertaken with caution. JEL Classifications: G32; M4; M48; Q56. [ABSTRACT FROM AUTHOR]

Historically, African American women have experienced racial disparities in miscarriage, stillbirth, and infant mortality rates. Yet, little attention has been given to stressors that African American women may experience prior to, during, and after experiencing fetal/infant loss. This study provided an opportunity for African American women to describe their lived experiences of stressors prior to, during, and after experiencing each type of fetal/infant loss. Semi-structured interviews were conducted with seven African American women. Each participant experienced miscarriage, stillbirth, and infant mortality and were 18 years of age or older. Recruitment occurred in 2019 in a county in Northeast Ohio and data were analyzed using descriptive coding and thematic analysis. Four themes identified how these African American women navigated stressors prior to, during, and after experiencing each type of fetal/infant loss: (a) social support, (b) grief, (c) internal conflict, and (d) pregnancy, delivery, and death of child. Our findings expand the literature by being an innovative study may bring awareness and influence programs that assist African American women during their experience with fetal/infant loss. [ABSTRACT FROM AUTHOR]

Abstract Background In the literature, supplement of soy aglycons of isoflavone as estrogen agonists in improvement of serum biochemical attributes, liver antioxidative capacities and vaginal epithelium protection has been meagerly investigated. In this study, ovariectomized (OVX) rats were used as an animal model to simulate post-menopausal status. Supplementary health benefits of soy aglycons of isoflavone (SAI) on improvement of growth and serum biochemical attributes, enhancement of liver antioxidation-related capacities and protection of vaginal epithelium of the OVX rats were assessed. Methods As an in vivo study, 30 OVX Sprague-Dawley rats were distributed into OVX (positive control), OVX/LSAI (low SAI group – supplemented with 0.0135% SAI being equivalent to 80 mg per day for a 60 Kg-human), and OVX/HSAI (high SAI group – supplemented with 0.027% SAI) and 10 rats with sham operation as negative control fed with basal diet. Results The average daily gain (ADG), feed intake and feed/gain ratio were higher for the OVX groups than the sham group (P < 0.05). Serum isoflavone concentrations of the OVX rats were increased by SAI supplementation. In comparison, significantly lower serum cholesterol and LDL (low-density lipoprotein) levels, and higher HDL (high-density lipoprotein) levels were detected for the rats of OVX/HSAI group (P < 0.05). SAI supplementation also increased iron chelating ability and decreased values of TBARS (thiobarbituric acid-reactive substance) (P < 0.05) of liver extracts. Liver catalase activity and total antioxidative activity (trolox equivalency) were enhanced by HSAI supplementation (P < 0.05). Decrease of vagina epithelial cellular linings of the OVX rats were noticeably improved by dietary supplementation with SAI. Conclusion Diets supplemented with soy aglycons of isoflavone have conferred health benefits to the OVX rats, in comparison to the sham rats fed with basal diet, by detection of higher serum isoflavone concentrations, significantly lower contents of serum cholesterol and LDL, and higher contents of serum HDL, increased iron chelating ability, lower contents of TBARS (thiobarbituric acid-reactive substance) and enhanced catalase and total antioxidative (as trolox equivalency) activities of the liver extracts, and protection of the epithelial cellular linings of vagina in the former rather than in the latter. This evidences that estrogen-agonist chemoprevention of menopausal-related cardiovascular diseases, decreased liver antioxidative capacities and epithelial degeneration of vagina could be achieved by dietary supplementation with soy aglycons of isoflavone.