Waresul Karim - Academia.edu (original) (raw)

Papers by Waresul Karim

Value Relevance of Corporate Donations

SSRN Electronic Journal, 2000

This study examines whether firm governance practices have an effect on accounting earnings quali... more This study examines whether firm governance practices have an effect on accounting earnings quality in Bangladesh. Using a sample of 648 firm-year observations for the period of 2001 -2006, the result suggests that corporate governance mechanisms provide greater monitoring of financial reporting and these mechanisms positively affect firm earnings quality. This knowledge could be used by the capital market regulator, the Securities and Exchange Commission (SEC), to design mechanisms to constrain managers" earnings management practices. This, in turn, would contribute towards development of an efficient stock market and thus protect investors" interests.

Determinants of IAS Disclosure Compliance in Emerging Economies: Evidence from Exchangelisted Companies in Bangladesh

... impact on corporate reporting in the country. In a multinational study of the determinants of... more ... impact on corporate reporting in the country. In a multinational study of the determinants of ...Companies Act of 1991, and Bangladesh Bank's Banking Regulatory and Policy Department ... They include net profit to sales, earnings growth, dividend growth and dividend stability (Cerf, ...

The effect of Investor Protection and IFRS Adoption on Earnings Quality around the World

... Muhammad Nurul Houqe School of Accounting & Commercial Law Victoria University of Welling... more ... Muhammad Nurul Houqe School of Accounting & Commercial Law Victoria University of Wellington Wellington, New Zealand Professor Tony van Zijl School of Accounting & Commercial Law Victoria University of Wellington Wellington, New Zealand ...

Does Regulatory Change Improve Financial Reporting Timeliness? Evidence from Bangladeshi Listed Companies

*Correspondence to: AKM Waresul Karim, School of Accounting and Commercial Law, Victoria Universi... more *Correspondence to: AKM Waresul Karim, School of Accounting and Commercial Law, Victoria University of Wellington, PO Box 600, Wellington, New Zealand ... Email: wares.karim@vuw.ac .nz Tel: ++(64)(4) 463 5233 extn 8547 Fax: ++(64)(4) 463 5076 ... Centre for Accounting, ...

Co-deterministic relationship between concentration of ownership and corporate value: Evidence from an emerging market

Abstract This paper documents a co-deterministic relationship between ownership concentration and... more Abstract This paper documents a co-deterministic relationship between ownership concentration and corporate performance in an emerging economy-Bangladesh. Building on extant literature, we use a simultaneous equations approach to model a bi-directional ...

Auditor Independence and NAS: a Comparative Analysis of Selected Current Regulatory Frameworks

Ssrn Electronic Journal, 2005

... WORKING PAPER SERIES Working Paper no. 36 2005 Ainul Islam a , Waresul Karim b* , andTony van... more ... WORKING PAPER SERIES Working Paper no. 36 2005 Ainul Islam a , Waresul Karim b* , andTony van Zijl b ... Ainul Islam School of Accountancy, Massey University Waresul Karim and Tonyvan Zijl School of Accounting and Commercial Law, Victoria University of Wellington ...

In this study, we examine whether timeliness of corporate financial reporting has improved in Ban... more In this study, we examine whether timeliness of corporate financial reporting has improved in Bangladesh following the creation of the Securities and Exchange Commission (SEC) in 1993, the enactment of the Companies Act in 1994 and the amendment of the SEC Rules in 1997.

Corporate ethics and auditor choice – international evidence

Research in Accounting Regulation, 2015

SSRN Electronic Journal, 2000

In this paper we study the impact of corporate governance characteristics on IPO firms" auditor c... more In this paper we study the impact of corporate governance characteristics on IPO firms" auditor choice in an emerging market setting. We use three corporate governance attributes -CEO-Chair duality, retained ownership, and foreign equity participation to test the impact of ownership structure on auditor choice of 129 Bangladeshi firms that went public during the period 1990 to 2005. Our findings from logistic regression suggest that CEO-Chair duality and the degree of foreign equity participation are significant determinants of auditor choice while proportion of board ownership is not. In addition, issuer size and whether the issuer is a green field operation also influence auditor choice while the length of a firm"s operating history does not seem to matter. Our findings support agency theory prediction that (at least one category of) principals (foreign shareholders in this case), are likely to trade-off higher monitoring costs (of hiring a higher quality auditor) with agency costs arising from asymmetric information, primarily borne by absentee owners. It also supports the signalling role managers of green field operations play by hiring higher quality auditors to mitigate the uncertainties associated with their offerings.

Clients’ Corporate Governance Characteristics and Auditor Choice in Emerging Audit Services Markets: The Case of Bangladesh

SSRN Electronic Journal, 2000

The market for audit services in Bangladesh

Journal of Accounting in Emerging Economies, 2012

Page 1. Article Title Page The Market for Audit Services in Bangladesh Author Details: Author Nam... more Page 1. Article Title Page The Market for Audit Services in Bangladesh Author Details: Author Name: AKM Waresul Karim Institution: Saint Mary's College of California City: Moraga State: California Country: USA Author Name ...

SSRN Electronic Journal, 2000

This study examines the effect of board ethics and board size on firms' choice of external audito... more This study examines the effect of board ethics and board size on firms' choice of external auditor. Using a large sample of 132,853 firm year observations from forty-six countries around the globe, we find that the level of board ethics in the firm's country of domicile has a positive impact on the likelihood of choice of a Big 4 audit firm. However, we also find that increasing level of board ethics moderates the impact of board size on the likelihood of choice a Big 4 audit firm. These results establish, through the firm's choice of auditor, an indirect link between the level of board ethics in the firm's country of domicile and financial reporting quality.

SSRN Electronic Journal, 2000

Despite vast majority corporate governance and firm performance literature in recent years, there... more Despite vast majority corporate governance and firm performance literature in recent years, there is none on Botswana"s corporate sector. This study investigates the relationship between ownership structure, board characteristics and financial performance to determine the role of corporate governance in the performance behavior of companies listed in an emerging market like Botswana. The approach of this study is different from available literature in capturing all types of shareholdings together in addition to other corporate governance and firm-specific control variables. The empirical evidence shows distinct nature of corporate governance behavior among alternative performance measures used, in particular between accounting-based/hybrid and market-based measures. Such diversity in findings provides insights to policy-makers to take appropriate measures on corporate governance and stock market development in order to ensure their efficiency.

Auditor Independence and NAS: A Comparative Analysis of Selected Current Regulatory Frameworks

SSRN Electronic Journal, 2000

... WORKING PAPER SERIES Working Paper no. 36 2005 Ainul Islam a , Waresul Karim b* , andTony van... more ... WORKING PAPER SERIES Working Paper no. 36 2005 Ainul Islam a , Waresul Karim b* , andTony van Zijl b ... Ainul Islam School of Accountancy, Massey University Waresul Karim and Tonyvan Zijl School of Accounting and Commercial Law, Victoria University of Wellington ...

The International Journal of Accounting, 2012

The International Journal of Accounting, 2012

This study examines the effect of investor protection and IFRS on the quality of accounting earni... more This study examines the effect of investor protection and IFRS on the quality of accounting earnings for forty-six countries around the globe. Two attributes of accounting earnings are studied: the magnitude of discretionary accruals, and the avoidance of loss reporting. The results suggest that IFRS adoption per se doest not lead to increased earnings quality, at least based on the earnings attributes studied in our study. Specifically, accounting earnings quality improves as investor protection regimes become stronger, but only for IFRS adopting countries, that is, the effect of investor protection is mediated through the adoption of IFRS. The results highlight the importance of accounting enforcement to financial reporting quality and the need for standard setters and policy makers to design mechanisms that will limit managers' earnings management practices.

The International Journal of Accounting, 1996

Impact of audit quality and ownership structure on the bias and accuracy of earnings forecasts issued in IPO prospectuses: Evidence from a frontier market

Studies in Economics and Finance, 2013

Abstract: This study examines whether firm governance practices have an effect on accounting earn... more Abstract: This study examines whether firm governance practices have an effect on accounting earnings quality in Bangladesh. Using a sample of 648 firm-year observations for the period of 2001-2006, the result suggests that corporate governance mechanisms ...

Value Relevance of Corporate Donations

SSRN Electronic Journal, 2000

This study examines whether firm governance practices have an effect on accounting earnings quali... more This study examines whether firm governance practices have an effect on accounting earnings quality in Bangladesh. Using a sample of 648 firm-year observations for the period of 2001 -2006, the result suggests that corporate governance mechanisms provide greater monitoring of financial reporting and these mechanisms positively affect firm earnings quality. This knowledge could be used by the capital market regulator, the Securities and Exchange Commission (SEC), to design mechanisms to constrain managers" earnings management practices. This, in turn, would contribute towards development of an efficient stock market and thus protect investors" interests.

Determinants of IAS Disclosure Compliance in Emerging Economies: Evidence from Exchangelisted Companies in Bangladesh

... impact on corporate reporting in the country. In a multinational study of the determinants of... more ... impact on corporate reporting in the country. In a multinational study of the determinants of ...Companies Act of 1991, and Bangladesh Bank's Banking Regulatory and Policy Department ... They include net profit to sales, earnings growth, dividend growth and dividend stability (Cerf, ...

The effect of Investor Protection and IFRS Adoption on Earnings Quality around the World

... Muhammad Nurul Houqe School of Accounting & Commercial Law Victoria University of Welling... more ... Muhammad Nurul Houqe School of Accounting & Commercial Law Victoria University of Wellington Wellington, New Zealand Professor Tony van Zijl School of Accounting & Commercial Law Victoria University of Wellington Wellington, New Zealand ...

Does Regulatory Change Improve Financial Reporting Timeliness? Evidence from Bangladeshi Listed Companies

*Correspondence to: AKM Waresul Karim, School of Accounting and Commercial Law, Victoria Universi... more *Correspondence to: AKM Waresul Karim, School of Accounting and Commercial Law, Victoria University of Wellington, PO Box 600, Wellington, New Zealand ... Email: wares.karim@vuw.ac .nz Tel: ++(64)(4) 463 5233 extn 8547 Fax: ++(64)(4) 463 5076 ... Centre for Accounting, ...

Co-deterministic relationship between concentration of ownership and corporate value: Evidence from an emerging market

Abstract This paper documents a co-deterministic relationship between ownership concentration and... more Abstract This paper documents a co-deterministic relationship between ownership concentration and corporate performance in an emerging economy-Bangladesh. Building on extant literature, we use a simultaneous equations approach to model a bi-directional ...

Auditor Independence and NAS: a Comparative Analysis of Selected Current Regulatory Frameworks

Ssrn Electronic Journal, 2005

... WORKING PAPER SERIES Working Paper no. 36 2005 Ainul Islam a , Waresul Karim b* , andTony van... more ... WORKING PAPER SERIES Working Paper no. 36 2005 Ainul Islam a , Waresul Karim b* , andTony van Zijl b ... Ainul Islam School of Accountancy, Massey University Waresul Karim and Tonyvan Zijl School of Accounting and Commercial Law, Victoria University of Wellington ...

In this study, we examine whether timeliness of corporate financial reporting has improved in Ban... more In this study, we examine whether timeliness of corporate financial reporting has improved in Bangladesh following the creation of the Securities and Exchange Commission (SEC) in 1993, the enactment of the Companies Act in 1994 and the amendment of the SEC Rules in 1997.

Corporate ethics and auditor choice – international evidence

Research in Accounting Regulation, 2015

SSRN Electronic Journal, 2000

In this paper we study the impact of corporate governance characteristics on IPO firms" auditor c... more In this paper we study the impact of corporate governance characteristics on IPO firms" auditor choice in an emerging market setting. We use three corporate governance attributes -CEO-Chair duality, retained ownership, and foreign equity participation to test the impact of ownership structure on auditor choice of 129 Bangladeshi firms that went public during the period 1990 to 2005. Our findings from logistic regression suggest that CEO-Chair duality and the degree of foreign equity participation are significant determinants of auditor choice while proportion of board ownership is not. In addition, issuer size and whether the issuer is a green field operation also influence auditor choice while the length of a firm"s operating history does not seem to matter. Our findings support agency theory prediction that (at least one category of) principals (foreign shareholders in this case), are likely to trade-off higher monitoring costs (of hiring a higher quality auditor) with agency costs arising from asymmetric information, primarily borne by absentee owners. It also supports the signalling role managers of green field operations play by hiring higher quality auditors to mitigate the uncertainties associated with their offerings.

Clients’ Corporate Governance Characteristics and Auditor Choice in Emerging Audit Services Markets: The Case of Bangladesh

SSRN Electronic Journal, 2000

The market for audit services in Bangladesh

Journal of Accounting in Emerging Economies, 2012

Page 1. Article Title Page The Market for Audit Services in Bangladesh Author Details: Author Nam... more Page 1. Article Title Page The Market for Audit Services in Bangladesh Author Details: Author Name: AKM Waresul Karim Institution: Saint Mary's College of California City: Moraga State: California Country: USA Author Name ...

SSRN Electronic Journal, 2000

This study examines the effect of board ethics and board size on firms' choice of external audito... more This study examines the effect of board ethics and board size on firms' choice of external auditor. Using a large sample of 132,853 firm year observations from forty-six countries around the globe, we find that the level of board ethics in the firm's country of domicile has a positive impact on the likelihood of choice of a Big 4 audit firm. However, we also find that increasing level of board ethics moderates the impact of board size on the likelihood of choice a Big 4 audit firm. These results establish, through the firm's choice of auditor, an indirect link between the level of board ethics in the firm's country of domicile and financial reporting quality.

SSRN Electronic Journal, 2000

Despite vast majority corporate governance and firm performance literature in recent years, there... more Despite vast majority corporate governance and firm performance literature in recent years, there is none on Botswana"s corporate sector. This study investigates the relationship between ownership structure, board characteristics and financial performance to determine the role of corporate governance in the performance behavior of companies listed in an emerging market like Botswana. The approach of this study is different from available literature in capturing all types of shareholdings together in addition to other corporate governance and firm-specific control variables. The empirical evidence shows distinct nature of corporate governance behavior among alternative performance measures used, in particular between accounting-based/hybrid and market-based measures. Such diversity in findings provides insights to policy-makers to take appropriate measures on corporate governance and stock market development in order to ensure their efficiency.

Auditor Independence and NAS: A Comparative Analysis of Selected Current Regulatory Frameworks

SSRN Electronic Journal, 2000

... WORKING PAPER SERIES Working Paper no. 36 2005 Ainul Islam a , Waresul Karim b* , andTony van... more ... WORKING PAPER SERIES Working Paper no. 36 2005 Ainul Islam a , Waresul Karim b* , andTony van Zijl b ... Ainul Islam School of Accountancy, Massey University Waresul Karim and Tonyvan Zijl School of Accounting and Commercial Law, Victoria University of Wellington ...

The International Journal of Accounting, 2012

The International Journal of Accounting, 2012

This study examines the effect of investor protection and IFRS on the quality of accounting earni... more This study examines the effect of investor protection and IFRS on the quality of accounting earnings for forty-six countries around the globe. Two attributes of accounting earnings are studied: the magnitude of discretionary accruals, and the avoidance of loss reporting. The results suggest that IFRS adoption per se doest not lead to increased earnings quality, at least based on the earnings attributes studied in our study. Specifically, accounting earnings quality improves as investor protection regimes become stronger, but only for IFRS adopting countries, that is, the effect of investor protection is mediated through the adoption of IFRS. The results highlight the importance of accounting enforcement to financial reporting quality and the need for standard setters and policy makers to design mechanisms that will limit managers' earnings management practices.

The International Journal of Accounting, 1996

Impact of audit quality and ownership structure on the bias and accuracy of earnings forecasts issued in IPO prospectuses: Evidence from a frontier market

Studies in Economics and Finance, 2013

Abstract: This study examines whether firm governance practices have an effect on accounting earn... more Abstract: This study examines whether firm governance practices have an effect on accounting earnings quality in Bangladesh. Using a sample of 648 firm-year observations for the period of 2001-2006, the result suggests that corporate governance mechanisms ...