Academic Seminar:

Constituency Statues and Voluntary Disclosure: evidence from major customer identities- 24 Nov 2023 (Fri)

 

 

 

 

學術討論會簡介:

24/11/2023，來自美國肯塔基大學的謝宏教授與會計系的教授和同學們分享了題爲「利益相關者法規與自願披露：來自主要客戶身份的證據」的文章。謝教授從背景出發講解了研究動機和其中的爭論點，最後做出假設並根據數據得出結論。謝教授首先介紹了公司選區法規是指允許受托人在決策時考慮非所有者利害關係人利益的立法，并提出他和他的團隊感興趣的是公司披露其主要客戶的身份。因為非所有者利益相關者通常需要這些信息，但披露會給股東帶來專有成本。隨後他强調主要客戶身份如何幫助利益相關者評估其下行風險，并且解釋了導致法規與公司主動披露主要客戶身份的情況關係尚不清楚的原因 ---因為法規是許可性的，而不是強制性的，并且法規的效果一直存在爭議。此外他們觀察到，與其他地方註冊的公司相比，在採用該法規的州註冊成立的公司披露主要客戶身份的情況顯著增加。謝教授團隊發現，對非所有者利益相關者的偶然法律的提出會導致這些利益相關者增加公司披露。張玥教授和會計系多名教授與謝宏教授展開了討論，並向謝教授贈送了嶺南大學會計系的紀念品。

 

The Introduction of Academic Seminar:

On November 24, Professor XIE Hong shared an article “Constituency Statues and Voluntary Disclosure: evidence from major customer identities” with professors and students from the Department of Accountancy. Professor Xie explained his research motivation and the arguments from the background, finally made hypotheses and drew conclusions based on the data. Professor XIE first introduced that corporate constituency statutes are legislation that allows fiduciaries (persons with fiduciary duties) to consider the interests of non-owner stakeholders in decision making and proposed that his team were interested in companies disclosing the identities of their major customers. The reason is that the information is typically desired by non-owner stakeholders, but the disclosure would incur proprietary costs to shareholders. Then he introduces how major customer identities help stakeholders assess their downside risks. And the relationship is unclear before because the statutes are permissive, not mandatory, and because the effects of the statutes have been debated. They find a significant increase in the disclosure of major customer identities by firms incorporated in states that have adopted the statutes relative to firms incorporated elsewhere. Their evidence suggests that a serendipitous legal nudge toward non-owner stakeholders results in increased corporate disclosure desired by these stakeholders. Professor ZHANG Yue and other professors had a discussion with Professor XIE. At last, Professor ZHANG presented Professor XIE with a souvenir from the Department of Accountancy of Lingnan University.