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AUM0010.1177/0312896214565121Australian Journal of ManagementBenson et al.

Article

Australian Journal of Management


2015, Vol. 40(1) 3688
A review of accounting The Author(s) 2015
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DOI: 10.1177/0312896214565121
Asia Pacific region aum.sagepub.com

Karen Benson
UQ Business School, The University of Queensland, Brisbane, QLD, Australia

Peter M Clarkson
UQ Business School, The University of Queensland, Brisbane, QLD, Australia; Beedie School of Business, Simon Fraser
University, Burnaby, BC, Canada

Tom Smith and Irene Tutticci


UQ Business School, The University of Queensland, Brisbane, QLD, Australia

Abstract
In this paper, we review scholarly accounting research published within the Asia Pacific Region
by analysing nine of the main accounting journals within the region along five dimensions. The
nine journals we focus on are: Accounting, Auditing and Accountability Journal; Australian Accounting
Review; Abacus; Accounting and Finance; Australian Journal of Management; Accounting Research Journal;
Journal of Contemporary Accounting and Economics; Managerial Auditing Journal; and Pacific Accounting
Review. The five dimensions we consider are: the most frequently cited papers; topical coverage;
impact on practice; research method; and noted authors. Our review leads us to conclude that
the accounting journals published within the Asia Pacific region make a significant contribution to
research and practice both within the region and internationally.
JEL Classification: M40, M41, M42, M48

Keywords
Accounting, research, Asia Pacific region

Corresponding author:
Tom Smith, UQ Business School, The University of Queensland, Brisbane, QLD 4072, Australia.
Email: t.smith@business.uq.edu.au

Final transcript accepted 27 November 2014 by Baljit Sidhu (Editor in Chief).


Benson et al. 37

1. Introduction
In this review, we reflect upon the current state of accounting research within the Asia Pacific
region. For this purpose, we focus our attention to the following nine top regional accounting jour-
nals: Accounting, Auditing and Accountability Journal (AAAJ); Australian Accounting Review
(AAR); Abacus (Abacus); Accounting and Finance (AF); Australian Journal of Management
(AJM); Accounting Research Journal (ARJ); Journal of Contemporary Accounting and Economics
(JCAE); Managerial Auditing Journal (MAJ); and Pacific Accounting Review (PAR). Note, here
and throughout the study, these journals are presented alphabetically according to their widely used
labels (abbreviations), and no hierarchy is intended or implied by this ordering.
These nine journals have been selected both because they are based within the region and
importantly because they have played significant roles in the dissemination of scholarly accounting
research. While we acknowledge that there are several additional journals that we might have
included, for parsimony we restrict our analyses to these nine journals arguing that they are a suf-
ficient representation from which to develop a comprehensive picture of the current state. The nine
journals are dispersed over the Asia Pacific region but with a degree of concentration in Australia.
The AAAJ is edited out of Adelaide, each of AAR, AJM, Abacus, and MAJ out of Sydney; both AF
and PAR out of New Zealand; ARJ out of Brisbane; and JCAE out of Hong Kong.
Appendix 1 presents an overview for each journal inclusive of the date of its first issue, found-
ing editor(s), 2013 Impact Factor (when available), 2013 Australian Business Deans Council
(ABDC) rating, and its current statement of Aims and Scope. As revealed in the third column,
several of the journals have a relatively long history, with the first issue of Abacus appearing in
1965, and those of AJM and AF appearing in 1976 and 1979, respectively.1 The remaining journals
have somewhat shorter histories, with MAJ publishing its first issue in 1986, AAAJ, ARJ, and PAR
each publishing theirs in 1988, AAR in 1991, and most recently, JCAE in 2005. The fourth column
reveals that the five journals for which the figures are available have the following 2013 Impact
Factors: AAAJ (1.101); AAR (0.825); Abacus (0.821); AF (0.796); and AJM (0.795). The fifth col-
umn then presents the 2013 ABDC ratings, revealing that five journals are A-rated (AAAJ, Abacus,
AF, AJM, and JCAE) and four B-rated (AAR, ARJ, MAJ, and PAR).
Finally, the current statement of Aims and Scope for each journal drawn from their respective
webpages can be found in the last column of the Appendix 1. Here, notwithstanding the common
aim of publishing quality accounting research, these statements reveal a wide variety of interests
and emphasis. Abacus, AF, AJM, and PAR each explicitly state an interest in research beyond
accounting, with for example, AF expressing an interest in papers that significantly contribute to
the disciplines of accounting and finance and AJM expressing a much broader interdisciplinary
focus with an interest in research from across all aspects of the business disciplines and beyond,
subject only to the caveat that the application is to management. For the remaining five journals,
their stated interests appear more narrowly within accounting.
A reading of the statements also reveals differing emphases even within the frame of accounting
research. While all statements appear to recognise the link between accounting practice and aca-
deme at some level, both AAR and ARJ appear especially interested in the accounting profession,
with AAR stating that it is positioned at the intersection of business and academe and features
articles by leading practitioners and researchers and ARJ stating that it seeks to provide an inter-
national forum for communication between professionals and academics on emerging areas in
contemporary accounting research and practice. Further, while as its title may imply, MAJ
expresses a relatively narrower interest on auditing and assurance, it also explicitly identifies the
link between theory and practice. Alternatively, AAAJ and Abacus both express an interest in
critical thought with AAAJ stating an interest in the interaction between accounting/auditing
38 Australian Journal of Management 40(1)

Table 1. Frequency distribution of accounting articles published during the period 20112013 across nine
Asia Pacific region accounting journals.

Journal Total articles Accounting articles

n Percentage
AAAJ 156 120 76.9%
AAR 95 95 100.0%
Abacus 68 49 72.1%
AF 152 69 45.4%
AJM 69 16 23.2%
ARJ 37 32 86.5%
JCAE 29 25 86.2%
MAJ 114 106 93.0%
PAR 41 38 92.7%
Total 761 550 72.3%

The nine journals are the Accounting, Auditing and Accountability Journal (AAAJ), Australian Accounting Review (AAR), Abacus,
Accounting and Finance (AF), the Australian Journal of Management (AJM), the Accounting Research Journal (ARJ), the Journal
of Contemporary Accounting and Economics (JCAE), Managerial Auditing Journal (MAJ) and the Pacific Accounting Review (PAR).
The figures presented are the total number of original and review articles published in each journal over the period
20112013, and the number and percentage of these articles which are deemed to be Accounting articles.

and their socio-economic and political environments, encouraging critical analysis of policy and
practice and Abacus portraying itself as a vehicle for the expression of independent and critical
thought on matters of current academic and profession interest in accounting, finance and busi-
ness. In contrast, JCAE expresses an interest in research studies that rigorously apply economics
and legal theory to accounting/auditing with an emphasis on empirical research.
Thus, as revealed through this summary overview, while each of the nine selected regional
journals has a stated interest in publishing high-quality accounting research, they have also adopted
a variety of perspectives. In the remainder of this study, we further explore this diversity of per-
spective and emphasis with the ultimate objective being to investigate and showcase the contribu-
tion of accounting research published in the Asia Pacific region to accounting academe and
practice. To this end, we begin in Section 2 by reviewing the top cited accounting research papers
appearing in the nine journals, both by journal and by subject matter. This is followed in Section 3
by an overview of the impact that accounting research has had on practice. In Section 4, we then
review the research in the journals from the perspective of research methodology. In Section 5, we
provide an overview of the noted authors who have published in the journals, and Section 6
concludes.

2. Top-cited articles
In this section, we review the top-cited papers appearing in the nine selected regional journals from
several perspectives. We begin by documenting the place occupied by accounting research within
each journal during the most recent 3-year period, 20112013 (Table 1). This is followed in
Table 2 by a listing of the 10 most frequently cited articles published in each journal over its history
(Panel A) and again during the most recent 3-year period, 20112013 (Panel B). Next, in Table 3
we document the major topic areas covered within the accounting research published in the nine
journals. From this perspective, Moehrle etal. (2009) identify the fields of financial accounting,
auditing, tax, regulation, managerial accounting, and information systems. Here, we use the 10
Benson et al. 39

Table 2. Ten most frequently cited articles across nine Asia Pacific region accounting journals.
Panel A: Ten most frequently cited articles by journal since initial publication.

Authors Year Title Citations

Ave Tot
Accounting, Auditing and Accountability Journal (AAAJ)
Deegan 2002 Introduction: the legitimising effect of social and 94.1 1129
environmental disclosures a theoretical foundation
Gray etal. 1995 Corporate social and environmental reporting: a review of 87.1 1654
the literature and a longitudinal study of UK disclosure
Hackston and 1996 Some determinants of social and environmental 61.6 1109
Milne disclosures in New Zealand companies
Deegan etal. 2002 An examination of the corporate social and environmental 52.4 629
disclosures of BHP from 1983-1997: A test of legitimacy
theory
ODonovan 2002 Environmental disclosures in the annual report: extending 49.0 588
the applicability and predictive power of legitimacy theory
Adams 2002 Internal organisational factors influencing corporate social 48.8 586
and ethical reporting: beyond current theorising
Adams 2004 The ethical, social and environmental reporting 43.4 434
performance portrayal gap
Milne and Adler 1999 Exploring the reliability of social and environmental 42.9 643
disclosures content analysis
Bebbington etal. 2008 Corporate social reporting and reputation risk 41.0 246
management
Deegan and 1996 Do Australian companies report environmental news 40.9 736
Rankin objectively?: An analysis of environmental disclosures by
firms prosecuted successfully by the Environmental
Mean 56.1
Australian Accounting Review (AAR)
Burritt etal. 2002 Towards a comprehensive framework for environmental 13.0 156
management accountinglinks between business actors
and environmental management accounting tools
Burritt etal. 2011 Carbon management accounting: explaining practice in 11.3 34
leading German companies
Frost etal. 2005 A survey of sustainability reporting practices of Australian 9.4 85
reporting entities
Adams and 2004 Corporate social responsibility: why business should act 8.5 85
Zutshi responsibly and be accountable
Carlin and Finch 2009 Discount rates in disarray: evidence on flawed goodwill 7.4 37
impairment testing
Sujan and 2007 Intellectual capital reporting practices of the top Australian 7.1 50
Abeysekera firms
Quiggin 2004 Risk, PPPs and the public sector comparator 7.0 70
Nobes 2008 Accounting classification in the IFRS era 7.0 42
Petty and 2005 Voluntary disclosure of intellectual capital by Hong Kong 6.7 60
Cuganesan companies: examining size, industry and growth effects
over time
Barton 1999b Public and private sector accounting the non-identical 6.1 92
twins
Mean 8.4
(continued)
40 Australian Journal of Management 40(1)

Table 2. (Continued)

Authors Year Title Citations

Ave Tot
Abacus (Abacus)
Haniffa and 2002 Culture, corporate governance and disclosure in Malaysian 43.1 517
Cooke corporations
Gray 1988 Towards a theory of cultural influence on the development 36.9 960
of accounting systems internationally
Lapsley 2009 New Public Management: The Cruellest Invention of the 28.8 144
Human Spirit? 1
Altman and 2007 Modelling credit risk for SMEs: Evidence from the US 27.7 194
Sabato market
Chapple etal. 2013 The cost of carbon: Capital market effects of the proposed 25.0 25
emission trading scheme (ETS)
Nobes 1998 Towards a general model of the reasons for international 24.5 392
differences in financial reporting
Whittington 2008 Fair value and the IASB/FASB conceptual framework 23.2 139
project: an alternative view
Daske and 2006 International financial reporting standards and experts 20.5 164
Gebhardt perceptions of disclosure quality
Ronen 2008 To fair value or not to fair value: a broader perspective 17.0 102
Benston etal. 2006 Principles - versus rules-based accounting standards: the 15.5 124
FASBs standard setting strategy
Mean 26.2
Accounting and Finance (AF)
Kavanagh and 2008 What skills and attributes does an accounting graduate 20.5 123
Drennan need? Evidence from student perceptions and employer
expectations
Brown etal. 2011 Corporate governance, accounting and finance: A review 20.3 61
Corrado 2011 Event studies: a methodology review 18.0 54
Ahmed and 2011 Evidence on the role of accounting conservatism in 16.7 50
Duellman monitoring managers investment decisions
Goodwin- 2006 Relation between external audit fees, audit committee 15.3 122
Stewart and Kent characteristics and internal audit
Barth 2000 Valuation-based accounting research: Implications for 11.3 158
financial reporting and opportunities for future research
Lantto and 2009 Impact of International Financial Reporting Standard 11.2 56
Sahlstrm adoption on key financial ratios
Baxter and 2009 Audit committees and earnings quality 10.0 50
Cotter
McKinnon and 1993 Voluntary disclosure of segment information by Australian 10.0 209
Dalimunthe diversified companies
Holland and 2003 Do Australian companies manage earnings to meet simple 8.9 98
Ramsay earnings benchmarks?
Mean 14.2
Australian Journal of Management (AJM)
Watts 1977 Corporate financial statements, a product of the market 12.1 446
and political processes
Choi etal. 2010 Corporate social responsibility and corporate financial 8.3 33
performance: Evidence from Korea
Benson et al. 41

Table 2. (Continued)

Authors Year Title Citations

Ave Tot
Abrahams and 1998 The role of R&D capitalisations in firm valuation and 5.3 85
Sidhu performance measurement
Worthington and 2004 Australian evidence concerning the information content of 5.3 53
West economic value-added
Birt etal. 2006 Ownership, competition, and financial disclosure 5.0 40
Kent and Ung 2003 Voluntary disclosure of forward-looking earnings 4.8 53
information in Australia
Cotter and Najah 2012 Institutional investor influence on global climate change 4.5 9
disclosure practices
Chalmers etal. 2011a Changes in value relevance of accounting information upon 4.3 13
IFRS adoption: Evidence from Australia
Dichev and Li 2013 Growth and accounting choice 4.0 4
Chi and Tang 2006 Bankruptcy prediction: application of logit analysis in 3.8 30
export credit risks
Mean 5.7
Accounting Research Journal (ARJ)
Asthana etal. 2009 The effect of Enron, Andersen, and Sarbanes-Oxley on the 17.8 89
US market for audit services
Gray etal. 2009 Bias, stability, and predictive ability in the measurement of 2.8 14
systematic risk
Jiang and Habib 2009 The impact of different types of ownership concentration 2.0 10
on annual report voluntary disclosures in New Zealand
Ittonen 2012 Market reactions to qualified audit reports: research 2.0 4
approaches
Luo etal. 2013 Comparison of propensity for carbon disclosure between 2.0 2
developing and developed countries: A resource constraint
perspective
Wagenhofer 2009 Global accounting standards: reality and ambitions 1.8 9
Drew and Drew 2010 Establishing additionality: fraud vulnerabilities in the clean 1.8 7
development mechanism
Boon etal. 2008 Audit service quality in compulsory audit tendering: 1.7 10
Preparer perceptions and satisfaction
Schmulian and 2011 Class absenteeism: reasons for non-attendance and the 1.7 5
Coetzee effect on academic performance
Hutchinson etal. 2008 An investigation of the association between corporate 1.5 9
governance, earnings management and the effect of
governance reforms
Mean 5.3
Journal of Contemporary Accounting and Economics (JCAE)
Hope etal. 2013 Voluntary disclosure practices by foreign firms cross-listed 13 13
in the United States
Clarkson etal. 2011a The impact of IFRS adoption on the value relevance of 12.7 38
book value and earnings
Biddle and Choi 2006 Is comprehensive income useful? 11 88
Chi and Huang 2005 Discretionary accruals, audit-firm tenure and audit-partner 9.7 87
tenure: Empirical evidence from Taiwan
(continued)
42 Australian Journal of Management 40(1)

Table 2. (Continued)

Authors Year Title Citations

Ave Tot
Wu etal. 2010 A comparison of alternative bankruptcy prediction models 7 28
Goodwin etal. 2008 The effects of international financial reporting standards on 5.5 33
the accounts and accounting quality of Australian firms: a
retrospective study
Wahab etal. 2007 The impact of the Malaysian code on corporate 4.7 33
governance: Compliance, institutional investors and stock
performance
Hope etal. 2007 Bonding to the improved disclosure environment in 4.6 32
the US: Firms listing choices and their capital market
consequences
Chen etal. 2007 Corporate governance and earnings management: The 4.6 32
implications of corporate governance best-practice
principles for Taiwanese listed companies
Rainsbury etal. 2009 The impact of audit committee quality on financial 4.4 22
reporting quality and audit fees
Mean 7.7
Managerial Auditing Journal (MAJ)
Spathis 2002 Detecting false financial statements using published data: 29.3 351
Some evidence from Greece
Alsaeed 2006 The association between firm-specific characteristics and 25.6 205
disclosure: the case of Saudi Arabia
Aly etal. 2010 Determinants of corporate internet reporting: evidence 18.3 73
from Egypt
Antony 2004 Six Sigma in the UK service organisations: results from a 18.2 182
pilot survey
Carcello and 2004 Client size, auditor specialization and fraudulent financial 17.3 173
Nagy reporting
Huafang and 2007 Ownership structure, board composition and corporate 16.3 114
Jianguo voluntary disclosure: Evidence from listed companies in
China
Belal 2001 A study of corporate social disclosures in Bangladesh 15.5 201
Hoitash etal. 2007 Auditor fees and audit quality 15.4 108
Jackson etal. 2008 Mandatory audit firm rotation and audit quality 15.2 91
Haat etal. 2008 Corporate governance, transparency and performance of 15.0 90
Malaysian companies
Mean 18.6
Pacific Accounting Review (PAR)
Carlin and Finch 2011 Goodwill impairment testing under IFRS: a false impossible 12.7 38
shore?
Bradbury etal. 2006 Board characteristics, audit committee characteristics and 11.0 88
abnormal accruals
Choi 1999 An investigation of the initial voluntary environmental 5.5 83
disclosures made in Korean semi-annual financial reports
Stent etal. 2010 IFRS in New Zealand: effects on financial statements and 5.0 20
ratios
Benson et al. 43

Table 2. (Continued)

Authors Year Title Citations

Ave Tot
Cordery etal. 2011 A solution looking for a problem: factors associated with 4.7 14
the non-adoption of XBRL
Liyanarachchi 2007 Feasibility of using student subjects in accounting 3.7 26
experiments: a review
Purushothaman 2000 Determinants of corporate social reporting practices of 3.2 45
etal. listed Singapore companies
Mihret etal. 2010 Antecedents and organisational performance implications 2.8 11
of internal audit effectiveness: Some propositions and
research agenda
Cheong etal. 2010 The impact of IFRS on financial analysts forecast accuracy 2.3 9
in the Asia-Pacific region: The case of Australia, Hong
Kong and New Zealand
Farshadfar etal. 2008 The relative ability of earnings and cash flow data in 2.2 13
forecasting future cash flows: Some Australian evidence
Mean 5.3

Panel B: Ten most frequently cited articles published with the past 3 years (20112013) by
journal.

Authors Year Title Citations

Ave Tot
Accounting, Auditing and Accountability Journal (AAAJ)
Justesen and 2011 Effects of actor-network theory in accounting research 18.3 55
Mouritsen
Cho etal. 2012 Corporate disclosure of environmental capital expenditures: 15.0 30
A test of alternative theories
Parker etal. 2011 The relationship between academic accounting research and 12.0 36
professional practice
Liguori and 2012 Accounting change: Explaining the outcomes, interpreting the 11.0 22
Steccolini process
Merkl- 2011 Impression management and retrospective sense-making in 10.7 32
Davies etal. corporate narratives: A social psychology perspective
Malsch etal. 2011 Investigating interdisciplinary translations: The influence of 10.7 32
Pierre Bourdieu on accounting literature
Gray and 2012 It was 20 years ago today: Sgt Pepper, Accounting, Auditing & 9.5 19
Laughlin Accountability Journal, green accounting and the Blue Meanies
Qian etal. 2011 Environmental management accounting in local government: 9.0 27
A case of waste management
Rankin etal. 2011 An investigation of voluntary corporate greenhouse gas 9.0 27
emissions reporting in a market governance system:
Australian evidence
Ascui and 2011 As frames collide: Making sense of carbon accounting 8.7 26
Lovell
Mean 11.4
Australian Accounting Review (AAR)
Burritt etal. 2011 Carbon management accounting: explaining practice in leading 11.3 34
German companies
(continued)
44 Australian Journal of Management 40(1)

Table 2. (Continued)

Authors Year Title Citations

Ave Tot
Nobes and 2013 Firm size and national profiles of IFRS policy choice 5.0 5
Perramon
Street 2012 IFRS in the United States: If, when and how 4.5 9
Adams and 2011 Integrated reporting: An opportunity for Australias not-for- 3.7 11
Simnett profit sector
Coram etal. 2011 The communicative value of the auditors report 3.3 10
Ferguson 2011 Your governance or mine? 2.7 8
etal.
Bradbury 2011 Direct or indirect cash flow statements? 2.7 8
Albu and 2012 International financial reporting standards in an emerging 2.5 5
Albu economy: lessons from Romania
Erchinger 2012 IFRS in the United Statesdevelopments and current status 2.5 5
Xu etal. 2011 Audit reports in Australia during the global financial crisis 2.3 7
Mean 4.4
Abacus (Abacus)
Chapple 2013 The cost of carbon: Capital market effects of the proposed 25.0 25
etal. emission trading scheme (ETS)
Clarkson 2011b Environmental reporting and its relation to corporate 14.0 42
etal. environmental performance
Tarca etal. 2013 An investigation of the relationship between use of 12.0 12
international accounting standards and source of company
finance in Germany
Dempsey 2013 The capital asset pricing model (CAPM): the history of a failed 10.0 10
revolutionary idea in finance?
Nobes 2011 IFRS practices and the persistence of accounting system 7.3 22
classification
Habib 2012 Non-audit service fees and financial reporting quality: a meta- 5.5 11
analysis
Grossi and 2011 European commission adoption of IPSAS to reform financial 3.3 10
Soverchia reporting
Rodrguez- 2011 Assessing the impact of fair-value accounting on financial 3.3 10
Prez etal. statement analysis: a data envelopment analysis approach
Bolivar and 2012 The role of fair value accounting in promoting government 2.5 5
Galera accountability
Heald and 2011 The macro-fiscal role of the UK Whole of Government 2.3 7
Georgiou Account
Mean 7.9
Accounting and Finance (AF)
Brown etal. 2011 Corporate governance, accounting and finance: A review 20.3 61
Corrado 2011 Event studies: a methodology review 18.0 54
Ahmed and 2011 Evidence on the role of accounting conservatism in 16.7 50
Duellman monitoring managers investment decisions
Clinch etal. 2012 The accrual anomaly: Australian evidence 7.5 15
Moroney 2012 Evidence of assurance enhancing the quality of voluntary 7.0 14
etal. environmental disclosures: an empirical analysis
Benson et al. 45

Table 2. (Continued)

Authors Year Title Citations

Ave Tot
Cotter etal. 2012 IFRS adoption and analysts earnings forecasts: Australian 6.0 12
evidence
Mala and 2012 Effect of the global financial crisis on accounting convergence 5.5 11
Chand
Cowan and 2011 Corporate disclosure reactions to Australias first national 4.7 14
Deegan emission reporting scheme
Aldamen 2012 Audit committee characteristics and firm performance during 3.5 7
etal. the global financial crisis
Artiach and 2011 Disclosure, conservatism and the cost of equity capital: A 3.3 10
Clarkson review of the foundation literature
Mean 9.2
Australian Journal of Management (AJM)
Pham etal. 2011 Corporate governance and alternative performance measures: 5.3 16
evidence from Australian firms
Cotter and 2012 Institutional investor influence on global climate change 4.5 9
Najah disclosure practices
Chalmers 2011a Changes in value relevance of accounting information upon 4.3 13
etal. IFRS adoption: Evidence from Australia
Dichev and 2013 Growth and accounting choice 4.0 4
Li
Gipper etal. 2013 The politics of accounting standard setting: A review of 3.0 3
empirical research
Docherty 2011 Asset tangibility, industry representation and the cross 1.7 5
etal. section of equity returns
Lopes etal. 2013 Do alternative methods of reporting non-controlling interests 1.0 1
really matter?
Bird etal. 2013 The market response to exploration, resource and reserve 1.0 1
announcements by mining companies: Australian data
Matolcsy 2012 Is continuous disclosure associated with board independence? 1.0 2
etal.
Armstrong 2011 Market-to-revenue multiples in public and private capital 1.0 3
etal. markets
Mean 2.7
Accounting Research Journal (ARJ)
Luo etal. 2013 Comparison of propensity for carbon disclosure between 2.0 2
developing and developed countries: A resource constraint
perspective
Ittonen 2012 Market reactions to qualified audit reports: research 2.0 4
approaches
Tempone 2012 Desirable generic attributes for accounting graduates into the 1.5 3
etal. twenty-first century: The views of employers
Basioudis 2012 Accounting students perceptions of a Learning Management 1.0 2
etal. System: An international comparison
Farag and 2011 Relative audit fees and client loyalty in the audit market 1.0 3
Elias
(continued)
46 Australian Journal of Management 40(1)

Table 2. (Continued)

Authors Year Title Citations

Ave Tot
Clarke etal. 2011 Winning ARC grants: comparing accounting with other 0.7 2
commerce-related disciplines
Gallery and 2011 Editorial: Advancing innovation in accounting research 0.7 2
Gallery
Jackling etal. 2012 Attitudes towards accounting: differences between Australian 0.5 1
and international students
Butcher 2011 Auditor appointment in compulsory audit tendering 0.3 1
etal.
Irani and Xu 2011 Do stealth restatements convey material information? 0.3 1
Mean 1.0
Journal of Contemporary Accounting and Economics (JCAE)
Hope etal. 2013 Voluntary disclosure practices by foreign firms cross-listed in 13.0 13
the United States
Clarkson 2011a The impact of IFRS adoption on the value relevance of book 12.7 38
etal. value and earnings
Clarkson 2011c Disclosure, shareholder oversight and the payperformance 1.3 4
etal. link
Liu and 2011 Management earnings forecasts and the quality of analysts 1.3 4
Zhuang forecasts: The moderating effect of audit committees
Tao and 2013 Corporate Governance and Risk Management: The role of 1.0 1
Hutchinson risk management and compensation committees
Fung and 2013 Short-term debt maturity, monitoring and accruals-based 1.0 1
Goodwin earnings management
Bliss etal. 2011 Do political connections affect the role of independent audit 0.7 2
committees and CEO Duality? Some evidence from Malaysian
audit pricing
Duh etal. 2012 The impact of IAS 39 on the risk-relevance of earnings 0.5 1
volatility: Evidence from foreign banks cross-listed in the USA
Leung etal. 2012 Family control and idiosyncratic volatility: Evidence from 0.5 1
listed firms in Hong Kong
Griffin and 2011 Audit fees around dismissals and resignations: Additional 0.3 1
Lont evidence
Mean 3.2
Managerial Auditing Journal (MAJ)
Soh and 2011 The internal audit function: Perceptions of internal audit 11 33
Martinov- roles, effectiveness and evaluation
Bennie
Ahmi and 2013 The utilisation of generalized audit software (GAS) by 7 7
Kent external auditors
Wahab etal. 2011 Political connections, corporate governance and audit fees in 5 15
Malaysia
Baydoun 2013 Corporate governance in five Arabian Gulf countries 5 5
etal.
Chu etal. 2013 The current status of greenhouse gas reporting by Chinese 5 5
companies: A test of legitimacy theory
Benson et al. 47

Table 2. (Continued)

Authors Year Title Citations

Ave Tot
Al-Thuneibat 2011 Do audit tenure and firm size contribute to audit quality?: 4.7 14
etal. Empirical evidence from Jordan
Oliveira 2011 Risk-related disclosures by non-finance companies: 4.3 13
etal. Portuguese practices and disclosure characteristics
Greco 2011 Determinants of board and audit committee meeting 4.3 13
frequency: Evidence from Italian companies
Sun and Liu 2013 Auditor industry specialization, board governance, and 4 4
earnings management
Sisaye 2011 The functional-institutional and consequential-conflictual 4 12
sociological approaches to accounting ethics education:
Integrations from sustainability and ecological resources
management literature
Mustapha 2011 Agency theory and managerial ownership: Evidence from 4 12
and Ahmad Malaysia
Pacific Accounting Review (PAR)
Carlin and 2011 Goodwill impairment testing under IFRS: a false impossible 12.7 38
Finch shore?
Cordery 2011 A solution looking for a problem: factors associated with the 4.7 14
etal. non-adoption of XBRL
Akbar etal. 2012 Performance measurement in Indonesia: the case of local 2.0 4
government
Boone etal. 2011 Block shareholder identity and firm performance in New 1.7 5
Zealand
Merchant 2012 Making management accounting research more useful 1.0 2
De Villiers 2012 New Zealand shareholder attitudes towards corporate 1.0 2
and Van environmental disclosure
Staden
Steenkamp 2011 Does including pictorial disclosure of intellectual capital 1.0 3
and Hooks resources make a difference?
Anh etal. 2011 Western management accounting practices in Vietnamese 1.0 3
enterprises: adoption and perceived benefits
Holmes 2012 Ethics and experiments in accounting: A contribution to the 0.5 1
etal. debate on measuring ethical behaviour
Gavious 2012 Female directors and earnings management in high-technology 0.5 1
etal. firms
Mean 2.6

The figures presented in each panel are the average annual citation count since the year of publication and the total cita-
tion count, both drawn from Google Scholar in May 2014 using the software program Publish or Perish.

European Accounting Association (EAA) topic areas, auditing (AU), accounting education (ED),
financial analysis (FA), financial reporting (FR), governance (GV), accounting and information
systems (IS), management accounting (MA), public sector accounting (PS), social and environ-
mental (SE) and taxation (TX), plus an additional category, Other, for studies not captured in the 10
EAA categories. These categories correspond closely to the six categories used by Moehrle etal.
48

Table 3. Frequency Distribution by Journal and European Accounting Association (EAA) Category for 550 Accounting Papers Published During the Period
2011 2013.
EAA Category Total AAAJ AAR Abacus AF AJM ARJ JCAE MAJ PAR

Auditing (AU) 103 (18.7%) 3 (2.5%) 18 (18.9%) 6 (12.2%) 11 (15.9) 0 (0.0%) 7 (21.9%) 3 (12.0%) 53 (50.0%) 2 (5.3%)
Accounting Education (ED) 19 (3.5%) 4 (3.3%) 0 (0.0%) 0 (0.0%) 2 (2.9%) 0 (0.0%) 10 (31.3%) 0 (0.0%) 2 (1.9%) 1 (2.6%)
Financial Analysis (FA) 43 (7.8%) 0 (0.0%) 7 (7.4%) 7 (14.3%) 16 (23.2%) 7 (43.8%) 2 (6.3%) 2 (8.0%) 1 (0.9%) 1 (2.6%)
Financial Reporting (FR) 130 (23.6%) 9 (7.5%) 36 (37.9%) 19 (38.8%) 22 (31.9%) 2 (12.5%) 7 (21.9%) 11 (44.0%) 13 (12.3%) 11 (28.9%)
Governance (GV) 69 (12.5%) 6 (5.0%) 7 (7.4%) 3 (6.1%) 7 (10.1%) 4 (25.0%) 3 (9.4%) 7 (28.0%) 27 (25.5%) 5 (13.2%)
Accounting and Information 3 (0.5%) 0 (0.0%) 0 (0.0%) 0 (0.0%) 1 (1.4%) 0 (0.0%) 0 (0.0%) 0 (0.0%) 1 (0.9%) 1 (2.6%)
Systems (IS)
Management Accounting (MA) 20 (3.6%) 9 (7.5%) 2 (2.1%) 2 (4.1%) 1 (1.4%) 0 (0.0%) 0 (0.0%) 1 (4.0%) 2 (1.9%) 3 (7.9%)
Public Sector Accounting (PS) 41 (7.5%) 15 (12.5%) 10 (10.5%) 7 (14.3%) 1 (1.4%) 0 (0.0%) 0 (0.0%) 0 (0.0%) 1 (0.9%) 7 (18.4%)
Social and Environmental (SE) 67 (12.2%) 34 (28.3%) 13 (13.7%) 3 (6.1%) 4 (5.8%) 2 (12.5%) 2 (6.3%) 0 (0.0%) 5 (4.7%) 4 (10.5%)
Taxation (TX) 5 (0.9%) 1 (0.8%) 0 (0.0%) 0 (0.0%) 2 (2.9%) 0 (0.0%) 0 (0.0%) 1 (4.0%) 1 (0.9%) 0 (0.0%)
Other 50 (9.1%) 39 (32.5%) 2 (2.1%) 2 (4.1%) 2 (2.9%) 1 (6.3%) 1 (3.1%) 0 (0.0%) 0 (0.0%) 3 (7.9%)
TOTAL accounting articles 550 (100%) 120 (100%) 95 (100%) 49 (100%) 69 (100%) 16 (100%) 32 (100%) 25 (100%) 106 (100%) 38 (100%)

The nine journals are the Accounting, Auditing and Accountability Journal (AAAJ), Australian Accounting Review (AAR), Abacus, Accounting and Finance (AF), the Australian Journal of Management (AJM), the Account-
ing Research Journal (ARJ), the Journal of Contemporary Accounting and Economics (JCAE), Managerial Auditing Journal (MAJ) and the Pacific Accounting Review (PAR).
The figures presented are the number and percentage of accounting articles published in each journal over the period 20112013 by European Accounting Association (EAA) topic category.
Australian Journal of Management 40(1)
Benson et al. 49

but allow a more detailed breakdown. Following, Table 4 lists the most frequently cited papers
published during the period 20112013 by journal and EAA category. Finally, Table 5 documents
the extent of cross-citation within the nine journals, and also the extent to which articles appearing
in the top three accounting journals (The Accounting Review (TAR), Journal of Accounting Research
(JAR) and Journal of Accounting and Economics (JAE)) and also in Accounting, Organisations
and Society (AOS) are cited.
To develop these five tables, we judgementally identify papers as either having an accounting
focus or otherwise. Herein, we acknowledge that a number of studies are multidisciplinary, with
many representing an interface between accounting and finance. One example is the frequently
cited AJM paper by Guay etal. (2011) that focuses on the estimation of implied cost of capital
using analyst forecast data. Papers such as this one that we have ultimately classified as falling
within finance rather than accounting are given consideration in the companion piece by Benson
etal. (2014). Since the ARJ, JCAE, MAJ and PAR are not currently listed in the Social Science
Citation Index and none of the journals have been covered by SSCI and Scopus throughout their
entire history, we use Google Scholar citations as our metric for citation count. These citation
counts were drawn from Google Scholar in May 2014 and are representative at that point in time.2
To standardise and enhance comparability, we base our rankings on the average annual citation
count since the year of article publication.

2.1. Relative role of accounting research


Table 1 presents a frequency distribution of papers published in the nine selected regional journals
between 2011 and 2013 according to whether they are deemed to have an accounting focus. Here
and throughout the remainder of our analyses, we restrict our attention to original research articles
or review articles; other types of papers such as editorial pieces, book reviews or errata have been
excluded.3
As revealed in the bottom row of Table 1, in aggregate across the nine journals, 72.3% of pub-
lished papers (550 out of 761) have been judgementally assessed as having a primary accounting
orientation. However, largely consistent with the statements of Aims and Scope discussed in the
Introduction and detailed in Appendix 1, the remaining rows reveal that both the number and
prominence of accounting papers differs widely, with the more dedicated accounting journals
exhibiting much higher rates than the journals self-identified as having a broader focus such as AF
and AJM. Specifically, AAR exhibits the highest rate with all 95 published papers deemed to be
accounting papers. This is followed relatively closely by MAJ (93.0%; 106 out of 114), PAR
(92.7%; 38 out of 41), ARJ (86.5%; 32 out of 37), JCAE (86.2%; 25 out of 29), AAAJ (76.9%; 120
out of 156) and Abacus (72.1%; 49 out of 68).4 In contrast, 45.4% of the articles published in AF
(69 out of 152) and 23.2% (16 out of 69) of the articles published in the AJM during the period are
deemed to be accounting papers.5

2.2. Most frequently cited articles


2.2.1. Most frequently cited articles overall. As revealed in Panel A of Table 2, across all journals, the
top-cited paper based on average annual citation count is Deegans (2002) corporate social respon-
sibility (CSR)/environmental paper in the AAAJ with 94.1 citations per year. Alternatively, the
paper with the highest total number of citations at 1654 is Gray etal.s (1995) CSR/environmental
paper also published in AAAJ.
Turning to the journals individually, for the AAAJ, the Deegan (2002) and Gray etal. (1995)
papers identified above take the honours. For AAR, the top-cited paper with an average annual
50 Australian Journal of Management 40(1)

Table 4. Top-cited articles published over the period 20112013 by journal and EAA category.
Panel A: Top-cited articles by journal for each EAA category.

EAA Authors Year Article title Number of


citations

Average Total
Accounting, Auditing and Accountability Journal (AAAJ)
AU Collins etal. 2012 New roles for auditors and reporting accountants 0.5 1.0
in UK banking supervision under the Banking Act
1987
ED Pop-Vasileva 2011 University corporatisation: The effect on academic 3.7 11
etal. work-related attitudes
FR Merkl-Davies 2011 Impression management and retrospective 10.7 32
etal. sense-making in corporate narratives: A social
psychology perspective
GV Sanchez etal. 2011 Corporate governance and strategic information 6.0 18
on the internet: A study of Spanish listed
companies
MA Van der 2011 The emergence and change of management 6.7 20
Steen accounting routines
PS Yang and 2013 Power and performance: Institutional 5.0 5
Modell embeddedness and performance management in a
Chinese local government organization
SE Cho etal. 2012 Corporate disclosure of environmental 15.0 30
capital expenditures: A test of alternative
theories
TX Lanis and 2013 Corporate social responsibility and tax 3.0 3
Richardson aggressiveness: A test of legitimacy theory
Other Justesen and 2011 Effects of actor-network theory in accounting 18.3 55
Mouritsen research
Australian Accounting Review (AAR)
AU Xu etal. 2011 Audit reports in Australia during the Global 3.0 9
Financial Crisis
AU Coram etal. 2011 The communicative value of the auditors report 3.0 9
FA Bradbury 2011 Direct or indirect cash flow statements? 3.0 9
FR Nobes and 2013 Firm size and national profiles of IFRS policy 6.0 6
Perramon choice
FR Street 2012 IFRS in the United States: If, when and how 6.0 12
GV Ferguson 2011 Your governance or mine? 3.0 9
etal.
MA Endenich 2011 Two decades of research on comparative 2.0 6
etal. management accounting - achievements and future
directions
PS Adams and 2011 Integrated reporting: an opportunity for 3.7 11
Simnett Australias not-for-profit Sector
SE Burritt etal. 2011 Carbon management accounting: explaining 13.7 41
practice in leading German companies
Other Chan etal. 2012 Accounting journal rankings, authorship patterns 1.0 2
and the author affiliation index
Benson et al. 51

Table 4. (Continued)

EAA Authors Year Article title Number of


citations

Average Total
Abacus (Abacus)
AU Fukukawa 2011 Client risk factors and audit resource allocation 2.0 6
etal. decisions
FA Karamanou 2011 On the determinants of optimism in financial 1.7 5
analyst earnings forecasts: the effect of the
markets ability to adjust for the bias
FR Tarca etal. 2013 An investigation of the relationship between use 15.0 15
of International Accounting Standards and source
of company finance in Germany
GV Morris etal. 2011 The value relevance of transparency and 1.7 5
corporate governance in Malaysia before and after
the Asian Financial Crisis
MA Ratnatunga 2011 Strategic governance and management accounting: 1.0 3
and Alam evidence from a case study
PS Grossi and 2011 European commission adoption of IPSAS to 4.7 14
Soverchia reform financial reporting
SE Chapple 2013 The cost of carbon: Capital market effects of the 27.0 27
etal. proposed Emission Trading Scheme (ETS)
Other Parker and 2011 Accountings latent classicism: revisiting classical 2.3 7
Ritson management origins
Accounting and Finance (AF)
AU Aldamen 2012 Audit committee characteristics and firm 5.5 11
etal. performance during the global financial crisis
ED Koh etal. 2011 The impact of cumulative pressure on accounting 1.7 5
students propensity to commit plagiarism: An
experimental approach
FA Cotter etal. 2012 IFRS adoption and analysts earnings forecasts: 10.0 20
Australian evidence
FR Ahmed and 2011 Evidence on the role of accounting conservatism 18.3 55
Duellman in monitoring managers investment decisions
GV Brown etal. 2011 Corporate governance, accounting and finance: A 27.7 83
review
IS Ferguson and 2011 Accounting information systems research over the 3.0 9
Seow past decade: Past and future trends
MA Chenhall and 2011 A review of Australian management accounting 3.3 10
Smith research: 19802009
SE Moroney 2012 Evidence of assurance enhancing the quality of 10.5 221
etal. voluntary environmental disclosures: An empirical
analysis
TX Chan etal. 2013 Government ownership, corporate governance 1.0 1
and tax aggressiveness: Evidence from China
Other Parker 2012 Beyond the ticket and the brand: Imagining an 1.5 3
accounting research future
Australian Journal of Management (AJM)
FA Chalmers 2011a Changes in value relevance of accounting 5.3 16
etal. information upon IFRS adoption: Evidence from
Australia
(continued)
52 Australian Journal of Management 40(1)

Table 4. (Continued)

EAA Authors Year Article title Number of


citations

Average Total
FR Lopes etal. 2013 Do alternative methods of reporting non- 1.0 1
controlling interests really matter?
GV Pham etal. 2011 Corporate governance and alternative 6.7 20
performance measures: evidence from Australian
firms
SE Cotter and 2012 Institutional investor influence on global climate 8.5 17
Najah change disclosure practices
Other Blackmore 2013 Verifying the Miles and Snow strategy types in 3.0 3
and Nesbitt Australian small-and medium-size enterprises
Accounting Research Journal (ARJ)
AU Ittonen 2012 Market reactions to qualified audit reports: 2.0 4
Research approaches
ED Tempone 2012 Desirable generic attributes of accounting 2.0 4
etal. graduates into the twenty-first century: The views
of employers
FA Birt and 2011 Forecasting confidence under segment reporting 0.3 1
Shailer
FR Ibrahim etal. 2011 Real and accrual-based earnings management and 0.7 2
its legal consequences: Evidence from seasoned
equity offerings
SE Luo etal. 2013 Comparison of propensity for carbon disclosure 3.0 3
between developing and developed countries: A
resource constraint perspective
Other Clarke etal. 2011 Winning ARC grants: Comparing accounting with 0.7 2
other commerce-related disciplines
Journal of Contemporary Accounting and Economics (JCAE)
AU Wan- 2013 Do investment in and the sourcing arrangement of 1.0 1
Hussin and the internal audit function affect audit delay?
Bamahros
FA Liu and 2011 Management earnings forecasts and the quality of 1.7 5
Zhuang analysts forecasts: The moderating effect of audit
committees
FR Clarkson 2011a The impact of IFRS adoption on the value 15.0 45
etal. relevance of book value and earnings
GV Monem 2013 Disclosure, shareholder oversight and the 3.0 3
payperformance link
Managerial Auditing Journal (MAJ)
AU Wahab etal. 2011 Political connections, corporate governance and 7.5 15
audit fees in Malaysia
ED Sisaye 2011 The functionalinstitutional and consequential 6.0 12
conflictual sociological approaches to accounting
ethics education: Integrations from sustainability
and ecological resources management literature
FA Wang etal. 2013 Value relevance of voluntary disclosure and the 1.0 1
global financial crisis: Evidence from China
Benson et al. 53

Table 4. (Continued)

EAA Authors Year Article title Number of


citations

Average Total
FR Oliveira etal. 2011 Risk-related disclosures by non-finance 6.5 13
companies: Portuguese practices and disclosure
characteristics
GV Soh and 2011 The internal audit function: Perceptions of internal 16.5 33
Martinov- audit roles, effectiveness and evaluation
Bennie
IS Ahmi and 2013 The utilisation of generalized audit software (GAS) 7.0 7
Kent by external auditors
MA Rasid etal. 2011 Management accounting and risk management in 2.0 4
Malaysian financial institutions: An exploratory
study
SE Chu etal. 2013 The current status of greenhouse gas reporting by 5.0 5
Chinese companies: A test of legitimacy theory
Pacific Accounting Review (PAR)
ED Cordery 2013 Does public services accounting belong in the 1.0 1
curriculum?
FR Carlin and 2011 Goodwill impairment testing under IFRS: a false 14.3 43
Finch impossible shore?
GV Boyle and Ji 2013 New Zealand corporate boards in transition: 5.0 5
Composition, activity and incentives between
1995 and 2010
IS Cordery 2011 A solution looking for a problem: factors 4.0 12
etal. associated with the non-adoption of XBRL
MA Merchant 2012 Making management accounting research more 2.0 4
useful
PS Akbar etal. 2012 Performance measurement in Indonesia: the case 2.5 5
of local government
SE De Villiers 2012 New Zealand shareholder attitudes towards 1.5 3
and Van corporate environmental disclosure
Staden
Other Clarke etal. 2012 Success in winning Australian Research 0.5 1
Council grants as a measure of comparative
professionalised disciplinary research activity

Panel B: Top three cited articles by EAA category.

EAA Authors Year Article title Number of


citations

Average Total
Auditing (AU)
MAJ Wahab etal. 2011 Political connections, corporate governance and 7.5 15
audit fees in Malaysia
MAJ Al-Thuneibat 2011 Do audit tenure and firm size contribute to audit 7.0 14
etal. quality? Empirical evidence from Jordan
(continued)
54 Australian Journal of Management 40(1)

Table 4. (Continued)

EAA Authors Year Article title Number of


citations

Average Total
AF Aldamen 2012 Audit committee characteristics and firm 5.5 11
etal. performance during the global financial crisis
Accounting Education (ED)
MAJ Sisaye 2011 The functional-institutional and consequential- 4.0 12
conflictual sociological approaches to accounting
ethics education: Integrations from sustainability
and ecological resources management literature
AAAJ Pop-Vasileva 2011 University corporatisation: The effect on academic 3.7 11
etal. work-related attitudes
ARJ Tempone 2012 Desirable generic attributes of accounting 2.0 4
etal. graduates into the twenty-first century: The views
of employers
Financial Analysis (FA)
AF Cotter etal. 2012 IFRS adoption and analysts earnings forecasts: 10.0 20
Australian evidence
AF Clinch etal. 2012 The accrual anomaly: Australian evidence 9.0 18
AF Gaio and 2011 Earnings quality and firm valuation: International 6.7 20
Raposo evidence*
Financial Reporting (FR)
AF Ahmed and 2011 Evidence on the role of accounting conservatism 18.3 55
Duellman in monitoring managers investment decisions
JCAE Clarkson 2011a The impact of IFRS adoption on the value 15.0 45
etal. relevance of book value and earnings
Abacus Tarca etal. 2013 An investigation of the relationship between use 15.0 15
of International Accounting Standards and source
of company finance in Germany
Governance (GV)
AF Brown etal. 2011 Corporate governance, accounting and finance: A 27.7 83
review
MAJ Soh and 2011 The internal audit function: Perceptions of internal 16.5 33
Martinov- audit roles, effectiveness and evaluation
Bennie
AJM Pham etal. 2011 Corporate governance and alternative 6.7 20
performance measures: evidence from Australian
firms
Accounting and Information Systems (IS)
MAJ Ahmi and 2013 The utilisation of generalized audit software (GAS) 7.0 7
Kent by external auditors
PAR Cordery 2011 A solution looking for a problem: factors 4.0 12
etal. associated with the non-adoption of XBRL
AF Ferguson and 2011 Accounting information systems research over the 3.0 9
Seow past decade: Past and future trends
Management Accounting (MA)
AAAJ Van der 2011 The emergence and change of management 6.7 20
Steen accounting routines
Benson et al. 55

Table 4. (Continued)

EAA Authors Year Article title Number of


citations

Average Total
AAAJ Andon 2012 Accounting-related research in PPPs/PFIs: Present 4.0 8
contributions and future opportunities
AAAJ Mitchell etal. 2012 Can triple bottom line reporting become a cycle 3.5 7
for double loop learning and radical change?
Public Sector (PS)
AAAJ Yang and 2013 Power and performance: Institutional 5.0 5
Modell embeddedness and performance management in a
Chinese local government organization
Abacus Grossi and 2011 European commission adoption of IPSAS to 4.7 14
Soverchia reform financial reporting
AAAJ Chalmers 2012b Regulatory theory insights into the past, present 4.5 9
etal. and future of general purpose water accounting
standard setting
Social and Environmental (SE)
Abacus Chapple 2013 The cost of carbon: Capital market effects of the 27.0 27
etal. proposed Emission Trading Scheme (ETS)
Abacus Clarkson 2011b Environmental reporting and its relation to 17.3 52
etal. corporate environmental performance
AAAJ Cho etal. 2012 Corporate disclosure of environmental capital 15.0 30
expenditures: A test of alternative theories
Taxation (TX)
AAAJ Lanis and 2013 Corporate social responsibility and tax 3.0 3
Richardson aggressiveness: A test of legitimacy theory
AF Chan etal. 2013 Government ownership, corporate governance 1.0 1
and tax aggressiveness: Evidence from China
Other
AAAJ Justesen and 2011 Effects of actor-network theory in accounting 18.3 55
Mouritsen research
AAAJ Liguori and 2012 Accounting change: Explaining the outcomes, 11.0 22
Steccolini interpreting the process
AAAJ Malsch etal. 2011 Investigating interdisciplinary translations: The 10.7 32
influence of Pierre Bourdieu on accounting
literature

The nine journals are the Accounting, Auditing and Accountability Journal (AAAJ), Australian Accounting Review (AAR), Abacus,
Accounting and Finance (AF), the Australian Journal of Management (AJM), the Accounting Research Journal (ARJ), the Journal
of Contemporary Accounting and Economics (JCAE), Managerial Auditing Journal (MAJ) and the Pacific Accounting Review (PAR).
The European Accounting Association (EAA) categories (topic areas) are: Auditing (AU); Accounting Education (ED); Fi-
nancial Analysis (FA); Financial Reporting (FR); Governance (GV); Accounting and Information Systems (IS); Management
Accounting (MA); Public Sector Accounting (PS); Social and Environmental (SE); Taxation (TX); and Other.
The figures presented in each panel are the average annual citation count since the year of publication and the total cita-
tion count, both drawn from Google Scholar in May 2014 using the software program Publish or Perish.

citation count of 13.0 and a total citation count of 156 citations is Burritt etal.s (2002) paper on a
framework for environmental management accounting. The top-cited paper per year in Abacus is
Haniffa and Cookes (2002) governance and disclosure paper with an average of 43.1 citations per
56

Table 5. Cross-citation count for 550 accounting papers published during the period 20112013 in nine Asia Pacific region accounting journals.
Publishing Total Total Citation count for articles published in
journal accounting references
articles AAAJ AAR Abacus AF AJ M ARJ JCAE MAJ PAR Top 3 AOS

AAAJ 120 9,225 565 (6.1%) 16 (0.2%) 46 (0.5%) 18 (0.2%) 4 (0.0%) 8 (0.1%) 0 (0.0%) 22 (0.2%) 6 (0.1%) 129 (1.4%) 612 (6.6%)
AAR 95 3,901 290 (7.4%) 98 (2.5%) 43 (1.1%) 49 (1.3%) 7 (0.2%) 7 (0.2%) 3 (0.1%) 28 (0.7%) 6 (0.2%) 321 (8.2%) 129 (3.3%)
Abacus 49 2,921 22 (0.8%) 29 (1.0%) 67 (2.3%) 17 (0.6%) 2 (0.1%) 0 (0.0%) 0 (0.0%) 2 (0.1%) 0 (0.0%) 387 (13.2%) 70 (2.4%)
AF 69 4,160 88 (2.1%) 36 (0.9%) 35 (0.8%) 118 (2.8%) 11 (0.3%) 2 (0.0%) 7 (0.2%) 6 (0.1%) 10 (0.2%) 864 (20.8%) 227 (5.5%)
AJM 16 833 0 (0.0%) 7 (0.8%) 6 (0.7%) 18 (2.2%) 13 (1.6%) 0 (0.0%) 4 (0.5%) 2 (0.2%) 1 (0.1%) 228 (27.4%) 11 (1.3%)
ARJ 32 1,472 14 (1.0%) 6 (0.4%) 6 (0.4%) 29 (2.0%) 1 (0.1%) 9 (0.6%) 3 (0.2%) 9 (0.6%) 2 (0.1%) 176 (12.0%) 21 (1.4%)
JCAE 25 1,192 0 (0.0%) 1 (0.1%) 0 (0.0%) 13 (1.1%) 0 (0.0%) 1 (0.1%) 10 (0.8%) 1 (0.1%) 0 (0.0%) 324 (27.2%) 3 (0.3%)
MAJ 106 5,001 76 (1.5%) 8 (0.2%) 20 (0.4%) 47 (0.9%) 4 (0.1%) 6 (0.1%) 1 (0.0%) 169 (3.4%) 6 (0.1%) 654 (13.1%) 94 (1.9%)
PAR 38 2,198 40 (1.8%) 19 (0.9%) 14 (0.6%) 21 (1.0%) 1 (0.0%) 4 (0.2%) 2 (0.1%) 11 (0.5%) 24 (1.1%) 196 (8.9%) 68 (3.1%)
Total 550 30,903 1,095 (3.5%) 220 (0.7%) 237 (0.8%) 330 (1.1%) 43 (0.1%) 37 (0.1%) 30 (0.1%) 250 (0.8%) 55 (0.2%) 3,279 (10.6%) 1,235 (4.0%)

The nine journals are the Accounting, Auditing and Accountability Journal (AAAJ), Australian Accounting Review (AAR), Abacus, Accounting and Finance (AF), the Australian Journal of Management (AJM), the Account-
ing Research Journal (ARJ), the Journal of Contemporary Accounting and Economics (JCAE), Managerial Auditing Journal (MAJ) and the Pacific Accounting Review (PAR).
The figures presented are the total number of accounting articles published in each of the nine journals, the total number of references in these articles, and the number of citations to each of the nine
journals in these articles, and in the final two columns, the number of citations to articles appearing the top three accounting journals, The Accounting Review, Journal of Accounting Research and Journal of
Accounting and Economics.
Australian Journal of Management 40(1)
Benson et al. 57

year and the paper with the highest total citation count at 960 is Grays (1988) accounting standards
paper. For AF, the paper with the highest average annual citation count at 20.5 is Kavanagh and
Drennans (2008) paper on the attributes and skills that are optimal for an accounting graduate and
the paper with the highest total citation count at 209 is McKinnon and Dalimunthes (1993) paper
on voluntary disclosure of segment information.
Turning next to AJM, Watts (1977) paper on corporate financial statements as a product of
market and political influences has the highest average citation count at 12.1 and the highest total
citation count at 446. For ARJ, the paper with both the most number of citations per year at 17.8
and total citations at 89 is Asthana etal.s (2009) paper on the effect of major corporate frauds and
Sarbanes-Oxley on the market for audit services. For the JCAE, the paper with the greatest number
of citations per year at 13.0 is Hope etal.s (2013) paper on voluntary disclosure by cross-listed
firms and the paper with the highest total citation count at 88 is Biddle and Chois (2006) paper on
the usefulness of comprehensive income. For MAJ, Spathis (2002) paper on detecting financial
reporting falsifications has the highest average citation count (29.3) and the highest total number
of citations (351). Finally, for the PAR, the paper with highest average annual number of citations
at 12.7 is Carlin and Finch (2011) paper on goodwill impairment under the International Financial
Reporting Standards (IFRS) while the Bradbury etal.s (2006) paper on board and audit committee
characteristics and abnormal accruals has the highest total citation count of 88.

2.2.2. Most frequently cited articles published within the past 3 years. Panel B of Table 2 lists the top
10 papers published in each journal over the 3-year period 20112013 based on annual citation
count. The purpose behind this presentation is to provide a feel for whether current performance
matches historical performance.
To begin, across all journals, the paper with the highest average annual citation count at 25.0
citations per year is Chapple etal. (2013) published in Abacus. Alternatively, the paper with the
highest total citation count at 61 is Brown etal. (2011) published in AF. Turning to the individual
journals, the paper in AAAJ with both the highest average annual citation count at 18.3 and the most
total citations at 55 is Justesen and Mouritsens (2011) theory paper. Similarly, the environmental
paper by Burritt etal. (2011) has both the highest average annual citation count (11.3) and the most
total citations (34) in AAR. For Abacus, the paper with the most citations per year at 25.0 is Chapple
etal. (2013) while Clarkson etal. (2011b) has the most total citations at 42. Here, both papers also
focus on environmental issues. The paper with both the highest average annual citation count
(20.3) and the most total citations (61) in AF is the review piece of the corporate governance litera-
ture by Brown etal. (2011). For AJM, Pham etal.s (2011) corporate governance paper has the
highest average annual citation count (5.3) and the most total citations (16). Ittonens (2012) IFRS
paper and Luo etal.s (2013) environmental paper share the honours in ARJ with the most citations
per year at 2 while Ittonens paper also has the most total citations at 4. For JCAE, Hope etal.s
(2013) voluntary disclosure paper has the most citations per year (13.0) while Clarkson etal.s
(2011a) IFRS paper has the highest total citation count (38). For MAJ, Soh and Martinov-Bennies
(2011) audit paper has the highest average annual citation count (11) and the most total citations
(33). Finally, for PAR, the paper with the most citations per year (12.7) and the most total citations
(38) is Carlin and Finchs (2011) paper on goodwill accounting under IFRS.
Finally, a comparison of the lists in Panels A and B reveals a degree of overlap, with a number
of the papers published within the most recent 3-year period also ranking highly on each of the
journals all-time lists developed based on average annual citation count. Specifically, for each of
AF, AJM, and ARJ, their all-time lists include three studies that have been published since 2011,
while the all-time lists for JCAE and PAR each include two studies published since 2011 and the
lists for AAR and Abacus each include one study. Of equal or perhaps greater note, these recently
58 Australian Journal of Management 40(1)

published studies also occupy significant positions within the all-time lists. For example, the papers
with the highest all-time average annual citation counts in JCAE and PAR have each been pub-
lished within the most recent 3 years, with both the first and second ranked papers in the JCAE
appearing from 2011 onward. Further, for AF, these recent papers represent the second, third, and
fourth highest ranked papers while for the AAR, the recent study is second ranked. Thus, overall,
this non-scientific comparison can perhaps be seen as suggestive that publications in the regional
accounting journals have gained greater recognition in recent years and now occupy an enhanced
position within the academic community.

2.3. Research areas


Table 3 presents a frequency distribution of papers published in each of the nine selected regional
journals between 2011 and 2013 by topic area. As noted at the outset, we classify the accounting
papers according to the 10 EAA topic areas (Moehrle etal., 2009). Here, from the first column, we
see that the greatest number of papers is in the area of Financial Reporting (FR), representing
23.6% of all published Accounting papers (130 out of 550). This emphasis, which frequently
reflects a focus on issues related to IFRS, is also evident in five of the nine journals (AAR, Abacus,
AF, JCAE, and PAR). The next most heavily represented topical areas are Auditing (AU), Governance
(GV), and Social and Environmental (SE) with 18.7%, 12.5%, and 12.2% of all accounting papers,
respectively. In contrast, Management Accounting (MA) and Accounting Education (ED) papers
have played a relatively limited role within the journals, representing only 3.6% and 3.5% of the
papers, and Accounting and Information Systems (IS) and Taxation (TX) papers have played an
almost negligible role, with only 3 and 5 papers, respectively.
Importantly, the patterns across the various journals are suggestive of differing topical empha-
sis. For example, Financial Analysis (FA) is heavily represented in AJM, AF and Abacus at 43.8%,
23.2% and 14.3% of their total publications in the accounting domain, amounting to 30 out of the
43 total FA papers. Alternatively, the majority of the Auditing (AU) papers appear in MAJ and AAR,
representing 50.0% and 18.9% of their respective total publications, and amounting to 71 of the
103 total auditing papers. Continuing, significantly more Governance (GV) papers have appeared
in MAJ than in any other journal (27 papers, representing 25.5% of the papers published in MAJ
and 39.1% of all GV papers) while a majority of the Social and Environmental (SE) papers appear
in AAAJ and AAR (47 out of 67), representing 28.3% and 13.7% of their respective total publica-
tions. Lastly, the majority of Accounting Education (ED) papers have been published in the ARJ
(10 out of 19), almost all Public Sector (PS) papers have been published in AAAJ, AAR, Abacus,
and PAR (39 out of 41), and the most common outlet for Management Accounting (MA) papers is
in AAAJ (9 out of 20). Thus, taken together, these frequency distributions quite clearly reveal dif-
fering patterns of topical coverage across the nine selected regional journals.
Table 4 lists the papers published during the period 20112013 with the highest total citation
count by journal and by category. Panel A lists the most frequently cited article published within
each journal by EAA category while Panel B lists the three most frequently cited articles by EAA
category irrespective of journal outlet. Within both panels, a picture emerges of the varying topical
emphasis across journals not too dissimilar to that presented in Table 3 discussed above. First, from
Panel A, we see that not all 10 of the EAA categories are represented in any of the journals. For
example, while nine categories are represented in AF and eight each in AAAJ and MAJ, only four
categories are represented in AJM and JCAE, and five in ARJ. Further, the citation counts differ
across topics within each journal. As examples, based on average citation count, papers on finan-
cial reporting (FR) rank highly at Abacus, AF, JCAE and PAR, papers on financial analysis (FA) are
among the highest ranked at AF and AJM, and social and environmental (SE) papers are among the
Benson et al. 59

highest ranked at AAAJ and Abacus. Panel B also presents a pattern of varying topical emphasis
across journals. To illustrate, two of the top three auditing (AU) papers appear in MAJ, all three of
the top cited Financial Analysis (FA) papers appear in AF, all three top-cited management account-
ing (MA) papers appear in AAAJ, two of the top three social and environment (SE) appear in
Abacus, and two of the top three public sector (PS) papers appear in AAAJ. Finally, likely reflective
of its broader statement of Aims and Scope, all three of the papers classified as Other appear
in AAAJ. In sum, the results presented in Table 4 suggest that, while imperfect, there is a clear
association between the journals within which the top-cited papers appear and their apparent
emphases as documented in Table 3.

2.4. Cross citations


Table 5 presents a frequency distribution for the references cited within the accounting papers
published in the nine journals over the 3-year period 20112013.6 As revealed in the second col-
umn, a total of 30,903 references appear within these 550 papers, an average of 56 references per
paper. The remaining columns of the table present a breakdown of the number of references within
each journal (table rows) to articles published in each of the nine regional journals, as well as in the
top three accounting journals in aggregate (TAR, JAR and JAE) and in AOS.
As shown in the bottom row, in total 10.6% of references (3279 references) in the nine regional
journals are to papers published in the top three accounting journals (TAR, JAR and JAE), 4.0%
(1235 references) are to papers published in AOS, 3.5% (1095 references) to papers published in
AAAJ, 1.1% (330 references) to papers published in AF, and less than 1% to papers published in
each of the remaining seven regional journals. Of the journals, papers published in JCAE receive
the lowest number of citations (30), although this is likely at least in part due to the journals short
history. The figures also reveal differing emphases across the journals, with AF, AJM and JCAE
papers making the greatest reference to articles appearing in the top three accounting journals and
AAAJ papers make the greatest reference to articles appearing in AOS. Thus, clearly papers appear-
ing in the top ranked international journals (TAR, JAR, JAE and AOS) play a prominent role.
Alternatively, there appears to be more limited cross-citation among the nine regional journals.
Overall, 2297 of the references are to papers published in the nine regional journals representing
7.6% of the total references. Lastly, from the opposite perspective and as an indication of the inter-
national stature of the nine regional journals, papers published in the top international journals also
make some degree of reference to papers published in them. For example, over the period 2011
2013, approximately 1% of the references in papers published in the top three journals (TAR, JAR
and JAE) and 2% of those in papers published in AOS are to papers published in the regional jour-
nals. Here, exhibiting a similar pattern of emphasis, a majority of these top three journal references
are to Abacus and AF papers, and a majority of these AOS references are to AAAJ papers.
Notwithstanding this more limited cross-citation, the figures also suggest that papers published
within the nine regional journals are indeed of relevance to the development of other research
within the region. For example, AAR papers have more references to papers published in AAAJ,
Abacus and AF (382 references in total) than to the top three journals, TAR, JAR and JAE (321
references in total). Further, papers published in MAJ and PAR make relatively frequent reference
to AAAJ papers while consistent with Benson etal. (2014), papers published in AJM frequently cite
AF papers. Here, AF appears to exhibit the broadest base, with its papers being referenced with
reasonable frequency across all nine of the regional journals. In contrast, references to papers
appearing in the remaining eight journals come from only a subset of the regional journals. For
example, the majority of references to AAAJ papers appear in AAAJ and AAR papers, the majority
60 Australian Journal of Management 40(1)

of references to Abacus papers appear in AAAJ, AAR, Abacus and AF papers, and the majority of
references to AJM papers appear in AF and AJM papers.
Finally, same journal citations occupy a position of note. Focusing narrowly on references to
papers published in the nine regional journals, five of the journals (AAAJ, Abacus, AF, JCAE and
MAJ) have the highest citation count to articles published in the same journal and for a further three
(AAR, AJM and PAR), articles published in the same journal have the second highest count. To
illustrate, 6.1% of references (565 references) appearing in papers published in AAAJ are to other
papers also published in the AAAJ. The analogous figures for AF and MAJ are 2.8% (118 refer-
ences) and 3.4% (169 references), respectively.

3. Relevance to practice
As an applied field, it is perhaps not surprising that many of the topics studied within accounting
research would have an impact on practice. Further, given the breadth of coverage across the vari-
ous EAA topic areas documented in Section 2.3, it is also perhaps not surprising that this research
has had a relatively broad impact across many aspects of accounting practice. In this section, we
discuss a cross-section of published studies which illustrate this impact. We begin our discussion
by identifying studies that have had an impact on accounting standard setting, given its foundation
role within the discipline. This discussion includes studies focused on the adoption of IFRS and on
the continuous disclosure regime (CDR). Following, we turn to discuss studies directed at specific
accounting issues. Of special note here is the body of work directed at issues relating to the account-
ing for goodwill and asset revaluation. Next, we turn to discuss studies that focus on issues sur-
rounding earnings quality and earnings management. This is followed by a discussion of studies
that focus more broadly on voluntary disclosure and accounting policy choice. Finally, we con-
clude with discussions of studies within each of the auditing, public sector, and CSR spheres.
Our intention here is to provide the reader with a flavour of the types and range of practical
issues addressed within accounting research. As such, in selecting studies for discussion in this
section (as throughout the remainder of the document), we fully acknowledge the breadth of the
literature and make no representation that our review is comprehensive. For readers seeking a more
complete perspective, one source is the 50th Anniversary Issue of Accounting and Finance (AF)
which presents a number of review articles directed individually at various topical areas covered
under the umbrella of accounting research. Here, Brown etal. (2011) provide a review of corporate
governance research in accounting and finance, Chenhall and Smith (2011) provide a review of
Australian management accounting research, Ferguson and Seow (2011) provide a review of
accounting information systems research, Mathur and Singh (2011) review the literature on corpo-
rate political strategies that relates to accounting, finance and corporate governance issues, Trotman
etal. (2011) provide an overview of judgement and decision-making experimental research divided
between auditing, financial accounting, and management accounting and, finally, Artiach and
Clarkson (2011) provide a review of corporate disclosure and accounting policy choice studies that
link such choices to economic implications such as cost of equity capital. Note, while these review
pieces do not restrict their attention to only studies published within the nine regional journals, they
do provide a coverage of such work as a part of their discussion of the broader literature.

3.1. Standard setting and financial reporting


In an early study that provides a basis for work into issues relating to accounting standard setting,
Watts (1977) argues that financial statements are a product of the market and political processes.
From this perspective, Miller (1995) reviews the co-regulation environment in Australia whereby
Benson et al. 61

Government and the accounting profession collaborate to come up with a regulatory system for
financial reporting. Howieson (1993) and Miller and Loftus (1993) analyse the Statement of
Accounting Concepts (SAC 4 Definition and Recognition of the Elements of Financial
Statements) and discuss the difficulties of giving mandatory status to the statements. Velayutham
(1997) compares professional accounting bodies with a franchise which it is argued may well
become a global franchise in the 21st century. Collett etal. (1998) discuss the implications of the
Corporate Law Economic Reform Program as it relates to accounting standard-setting in Australia.
Swieringa (1998) and Brown and Howieson (1998) examine accounting research and its relation to
accounting standard setting.
In recent research, Howieson (2011) discusses how accounting standard setters were affected by
the Global Financial Crisis. Palmer (2013) examines attitudes to financial reporting standards in the
not for profit sector. Potter etal. (2013) analyse the factors that have shaped the approach taken by
the Australian Accounting Standards Board (AASB) in addressing the issue of differential reporting
in Australia. They show that the AASBs approach has been shaped by feedback from key stake-
holder groups, as well as by influential individuals and key events. Since there are strongly held
views on all sides of the debate, the AASB has moved to embracing to a greater extent, the use of
more objective research evidence to resolve the empirical questions presented in the public debate.
Within the domain of standard setting, two regulatory innovations represent the bases for a con-
siderable number of more recent studies, the adoption of the IFRS and the introduction of the CDR.
We complete this section with a brief overview of studies with an IFRS and then a CDR focus.

3.1.1. IFRS. As noted in Section 2.3, much of the more recent work within financial reporting
reflects a focus on issues related to IFRS. Here, Goodwin etal. (2008) examine the impact of IFRS
adoption of the valuation relevance of accounting information in general, and more narrowly con-
sider its impact on the informativeness of the most affected items within the financial statements.
Chalmers etal. (2011a) also examine whether IFRS has changed the value relevance of accounting
information while Clarkson etal. (2011a) examine the impact of IFRS adoption on accounting
quality. Albu and Albu (2012) extend the analysis by examining the impact of IFRS in the emerg-
ing economy of Romania. Lopes etal. (2013) examine early adoption by German firms of IFRC
standards and provide evidence on whether reporting non-controlling interests as equity or as non-
equity matters in terms of value relevance. In more directed analysis, Chalmers etal. (2012a)
examine whether the adoption of IFRS has been associated with a loss of potentially useful infor-
mation about intangible assets and Cotter etal. (2012) examine the impact of IFRS on the properties
of analysts forecasts, Bentwood and Lee (2012) examines the possibility of benchmark manage-
ment during the transition to IFRS. Finally, Brown and Tarca (2012b) reflect on 10 years of IFRS
adoption while Brown and Tarca (2012a) consider the link between the findings of academic
research and feedback from practitioners surrounding the adoption of IFRS.

3.1.2. CDR. Another specific point of focus has been the CDR. Here, for example, Hsu (2009) exam-
ines the impact of earnings performance on price-sensitive disclosures under a CDR while Hsu etal.
(2012) examine the change in analysts forecast properties over time under a CDR. Matolcsy etal.
(2012) examine whether board independence is associated with adherence to the CDR. In related
research, Griffin etal. (2011) examine enforcement and disclosure under Regulation FD.

3.2. Specific accounting issues


Second, turning to studies which focus on specific accounting issues, as noted above the issues of
accounting for goodwill, research and development (R&D) and asset revaluations have received
considerable attention in the nine regional journals surveyed here. This is partly due to the
62 Australian Journal of Management 40(1)

comparative advantage of studying relatively unique accounting treatments pertaining in the


region, which has in turn assisted in international standard setting debates.
The topic of goodwill accounting has a long history starting with Gibson and Francis (1975)
who document the flexibility in Australia relating to the accounting treatment of goodwill. Anderson
etal. (1979) examine the foundations of the current value debate. Das and Fraser (1981) and
Pcirson and Tippett (1985) examine the valuation of cost of sales under current value accounting.
Restatement of financial accounts to adjust for inflation is examined by Tippett and Hodgson
(1984), and Cheung (1986) who studies the market impact of inflation adjustment. The treatment
of goodwill has been the subject of much research with Carnegie and Gibson (1987) examining the
issue of goodwill on consolidation whilst Anderson and Zimmer (1992) look at market reaction to
regulations relating to goodwill.
One of the issues relating to goodwill is the distinction between internally generated and pur-
chased goodwill. Bugeja and Gallery (2006) examine the value of purchased goodwill as it ages.
James etal. (2008) examine the association between bid premium in a takeover and purchased
goodwill. Matolcsy and Wyatt (2006) examine analyst following and the capitalisation of good-
will. Clinch (1995) examines capital markets research and the goodwill debate, concluding that
there is no clear association between goodwill amortisation and share price. Godfrey and Koh
(2009) explore the link between goodwill impairment and investment opportunities. Horton and
Macve (2000) and Bradbury and Prangnell (2005) examine the valuation of financial instruments
at fair value. Wyatt and Abernethy (2008) argue that identifying and separately reporting expendi-
tures on intangible investment is a logical first step in accounting for intangible investments.
Systematic amortisation of goodwill is considered by Day and Hartnett (1997) who examine the
market effect of a change in the way goodwill is amortised (the banning of the use of the Inverted-
Sum-Of-Years-Digits method). Penman (2009) points out that while researchers are primarily con-
cerned with the balance sheet treatment of goodwill, much can be learned from the income
statement as well.
Finally, in recent research, Chalmers etal. (2011b) consider impairment versus systematic
amortisaton of goodwill and conclude that impairment best fits the underlying economic attributes
of goodwill while Jarva (2014) investigates the economic consequences of the write off of good-
will. Docherty etal. (2011) examine the association between asset tangibility and returns. Brousseau
etal. (2013) examine the consequences of fair value accounting for financial assets and asset price
volatility in an experimental setting. Carlin and Finch (2011) critically examine the issue of good-
will impairment testing under IFRS. Hunter etal. (2005) seek to set out a systematic and compre-
hensive analysis of intangibles using their economic and accounting properties.
Another specific intangible that has been prominently studied in the region is investment in
R&D. Abrahams and Sidhu (1998) were the first to document that in a discretionary setting (in
Australia which permitted managers to capitalise R&D costs for projects beyond a reasonable
doubt of realising future benefits), capitalised R&D costs are associated with market value, and
further that capitalisation and subsequent amortisation of these costs improved earnings as a per-
formance measure. Others have since added to this evidence in interesting and significant ways
(e.g. Percy, 2000).
Asset revaluations is a further accounting treatment with a long history in Australia thereby
permitting empirical study. Contributions in this field have contributed to the evidence base rele-
vant to fair valuation. Examples include but are not limited to Brown etal. (1992), Cotter and
Zimmer (1995), Easton and Eddey (1997) and Whittred and Chan (1992).The published account-
ing research also speaks to a broad range of issues relevant to practice beyond those related to
goodwill, R&D and asset revaluation. Here, for example, in early work, Brown etal. (1977)
examine the impact of earnings reports on share price, Griffin (1982, 1983) examine the impacts
of FASB statements on foreign currency translation (FASB 8 and 52), and Chong and Dean (1985)
Benson et al. 63

use case study analysis to study the effects of related party transactions under SFAS 57 and IAS 24.
Ang etal. (1999) study comment letters to illustrate the forces at play against regulations to require
full recognition of growing superannuation liabilities while Ang etal. (2000) gave us evidence that
full disclosure of companies superannuation liabilities would provide information relevant to
investors. Lont (2002) examines the effect of FRS 9 on unspecified operating expense disclosure
in New Zealand, Owusu-Ansah and Yeoh (2005) examine the effect of the Financial Reporting Act
of 1993 (FRA) on mandatory disclosure practices of listed companies in New Zealand, and Da
Silva Rosa etal. (2008) examine whether firms that are subject to ASIC actions have poorer cor-
porate governance. Chen and Cheng (2007) use the Chinese market to examine the impact of regu-
latory enforcement on harmonisation of accounting practices. Chapple etal. (2005) examine the
impact of CLERP on initial public offering prospectus earnings forecasts. While details of cove-
nants in actual debt contracts are now being published in the top international journals (given the
availability of relevant data in electronic databases), this was preceded by scholars in the Asia
Pacific region working on hand collected data (see, for example, Cotter (1998), Ramsay and Sidhu
(1998) and Mather and Peirson (2006).
More recently, Malone etal. (2011) investigate whether Australasian cash flow reporting regu-
lation is value relevant while Gallery etal. (2011) examine the impact of regulatory reforms on the
earnings forecasting behaviour of IPO firms. Rezee etal. (2012) examine the stock price reaction
to the internal control reporting required under Section 404 of the Sarbanes-Oxley Act. Garg etal.
(2012) assess the role of litigation risk in the stock price setting process in relation to the Securities
and Exchange Commission (SEC) Exchange Act Rule 13a-14. Gordon (2012) reviews ED 223 and
examines the accountability relationships involved in superannuation and queries whether there is
a role for group accounting. Lopes etal. (2013) examine the value relevance of alternative methods
of reporting non-controlling interests. Finally, from an overview perspective, Taylor (2009) dis-
cusses how accounting research can contribute to capital markets regulation.

3.3. Earnings quality and earnings management


Papers addressing earnings quality have covered a broad range of topics. The key themes addressed
in these studies include: investigation of the information content and value relevance of earnings
numbers; measurement of the persistence of earnings and accruals; analysis of the importance of
specific qualitative characteristics, such as reliability, conservatism and timeliness; and measure-
ment of accruals quality by use of abnormal or discretionary accruals models.
Recent value relevance studies include those that have considered the impact of IFRS imple-
mentation with some conflicting findings. Using a long window study, Chalmers etal. (2011a) find
an increase in the value relevance and persistence of the earnings of Australian firms post-IFRS
implementation. In contrast, Clarkson etal. (2011a) using an international sample find no change
in the value relevance of earnings or book value for Common or Code Law countries in a short
window around the adoption of IFRS. More broadly, other studies have considered the value rele-
vance of losses (Sin and Watts, 2000) and the value relevance of mandatory reported non-GAAP
earnings numbers (Venter etal., 2014).
Studies of earnings persistence find evidence of differences in the persistence of components of
earnings. Oei etal. (2008) show that the cash flow component of earnings has greater persistence
than a broad measure of total accruals while Govendir and Wells (2014) further categorise cash flow
and accrual components finding that persistence can be explained by the nature of the component,
cash flows that lead or lag earnings and initiating or reversing accruals. The qualitative characteris-
tics of reliability, conservatism and timeliness have featured in a number of studies. Grambovas
etal. (2006) undertake a comparison of the timeliness of earnings for European and US firms,
64 Australian Journal of Management 40(1)

finding an increase in conservatism in both regions. Artiach and Clarkson (2014) find a lower cost
of capital for firms with conservative accounting practices, a result that is more prominent for firms
with higher information asymmetry. Australian evidence of the propensity for conservatism is pro-
vided by Lai and Taylor (2008) who use a firmyear specific score of conservatism. Overall, these
studies suggest that even while regulators were shifting focus from conservatism toward fair value
accounting, conservatism is still valued in practice. However, the influence of the regulators is
observed following the change to IFRS with Lai etal. (2013) reporting a decline in the reliability of
accruals suggesting a trade-off has occurred between relevance and reliability in the post-IFRS
setting.
Researchers have also attempted to address criticisms about reliance on a single noisy construct to
measure earnings or accruals quality. The trend of using multiple constructs of earnings quality is
reflected in Gaio and Raposo (2011) who utilise seven attributes of earnings, accruals quality, persis-
tence, predictability, smoothness, value relevance, timeliness and conservatism, to measure quality.
Underlying earnings quality is the issue of earnings management. Earnings management studies
generally focus on specific accounting, investing and reporting choices made by firms to opportun-
istically manage earnings or signal future benefits to shareholders through accruals manipulation
or real earnings management. Opportunistic earnings management has been documented in a num-
ber of studies. Charitou etal. (2011) find that distressed firms manage earnings to a positive target
more frequently than healthy firms. Bowman and Navissi (2003) find that firms affected by price
control regulation are more likely to employ income-decreasing discretionary accruals to enhance
the chance that price increases will be approved. Evidence of earnings being managed to signal
future performance is provided by Herbohn and Ragunathan (2008). Their findings suggest that
firms will select accounting policies for signalling purposes even when the choice puts the firm in
conflict with their auditors.
Other studies have investigated management of earnings around changes in CEO, showing that
upward and downward earnings management is systematically related to the underlying reason for
the change (Choi etal., 2014; Godfrey etal., 2003). The impact of CEO and CFO characteristics
on reported earnings is also considered by Amir etal. (2014) using a proprietary dataset of Swedish
CEOs and CFOs that have been convicted or suspected of crimes.
Results on the use of earnings management to beat benchmarks provides a number of different
perspectives as to whether executives are acting opportunistically. While Holland and Ramsay
(2003) find that small increases in profits and small profits around earnings thresholds are consist-
ent with a signalling explanation, Coulton etal. (2005) caution against interpreting discontinuities
around null earnings and unexpected accruals as measures of earnings management. However,
more recently, Coulton etal. (2014) find that where the incentive for manipulation is most likely,
that is, for overvalued firms that benchmark beat, there are higher unexpected accruals.
Studies of earnings quality and earnings management have also considered the influence of
governance and the implications of earnings quality for cost of capital (both equity and debt)
(Aldamen and Duncan, 2013; Artiach and Clarkson, 2014; Shevlin, 2013). Evidence of the impact
of governance on earnings quality and earnings management has focused on the role of external
auditors (Cahan etal., 2008; Chi and Huang, 2005; Gul etal., 2006), audit committees (Baxter and
Cotter, 2009; Kent etal., 2010) and corporate governance (Chen etal., 2007; Chi etal., 2009;
Ching etal., 2006; Kasipillai and Mahenthiran, 2013).

3.4. Voluntary disclosure


Accounting research also extends beyond a narrow focus on the financial statements to consider
the disclosure of both financial and non-financial information more broadly. Here, the research has
Benson et al. 65

examined the disclosure of specific items such as management earnings forecasts as well as the
firms broader propensity to disclose. Within this literature, earlier work focused on the firms deci-
sion to make such disclosures while later work has turned to additionally consider the economic
consequences of the firms disclosure decision. Early examples of studies examining management
earnings forecasts include Sinclair etal. (1986) who examine the information content of voluntary
qualitative earnings forecasts and Kent and Ung (2003) who examine the incidence of voluntary
point estimate (quantitative) earnings forecasts. More recent studies include Jackson etal. (2014)
who examine the impact of litigation risk on the timing of management earnings forecasts. More
broadly, examples of studies that relate to a firms voluntary disclosure decision include Birt etal.
(2006) who examine the roles played by ownership and competition in explaining a firms segment
disclosures, Wong and Wong (2010) who investigate whether voluntary disclosure operating
income is related to the investment opportunity set, Taylor etal. (2012) who examine determinants
of reserve disclosure by extractive firms, and Wee etal. (2014) who investigate the content, timing
and relevance of disclosures about the effects of IFRS adoption. Finally, as illustrated in Table 2,
disclosure of environmental or, more broadly, CSR-related information also plays a prominent role
within the accounting research agenda. This stream of research is discussed directly in Section 3.7
below.
Turning to the relevance of disclosure, much (but not all) of this work appeals to the firms cost
of capital as evidence of economic consequence. Here, as previously noted, Artiach and Clarkson
(2011) provide a review of studies that link disclosure choices to their economic implications. In a
similar vein, Shevlin (2013) presents a review of studies which examine the link between reporting
quality and cost of equity capital. There is a well-established theoretical literature which underlies
the various empirical studies. Recent examples of this literature include Clinch and Lombardi
(2011) who extend analysis into the relation between cost of equity capital and the proportion of
investors with private information, Clinch (2013) which extends analysis into how diversification
influences the link between disclosure quality and cost of equity capital, and Clinch and Verrecchia
(2014) who investigate the association between voluntary disclosure and the risk-related discount
investors apply to price.
Empirically, from a historical perspective, the cost of equity capital was often estimated using
the Capital Asset Pricing Model (CAPM). More recently, the accounting literature has moved to
adopt implied cost of capital measures as the basis. Artiach and Clarkson (2011) review the 12
measures most commonly found within the literature, both from an estimation perspective and in
terms of their construct validity. In their foundation study, Guay etal. (2011) confront the most
important shortcomings associated with implied cost of equity capital measures, data availability
and analyst forecast error. In conjunction, they also discuss the appropriateness of using realised
returns as an alternative measure. Artiach and Clarkson (2014) represents a recent example of an
empirical study that directly examines the cost of equity capital implications of accounting policy
choice (conservatism) made in conjunction with the disclosure decision.

3.5. Auditing
The fifth stream of literature that has had a significant impact on practice is the auditing research
literature. Wines (1994) examines auditor independence and the provision of non-audit services.
Monroe etal. (1992) and Johnson etal. (1995) discuss auditors preference for liability limitation
and its potential consequences. Gay and Schellugh (1993) examine investor perceptions of the
long-form audit report format. Simnett etal. (1993) examine the disclosure of audit committees by
listed firms. Monroe and Woodliff (1994) examine the publics perception of the auditors role and
recommends narrowing the expectations gap. Culvenor etal. (2002), Monroe (2002) and Hayes
(2002) provide a review of Ramsey report proposals for the reform of auditor independence.
66 Australian Journal of Management 40(1)

Ferguson (2005) provides a review of the key contributions of researchers using Australian data to
the audit pricing literature.
In more recent studies, Coram etal. (2008) examine the link between internal audit organisation
and structure and the level of fraud. Griffin etal. (2009) examine regulatory changes, IFRS intro-
duction and the structure of audit fees in New Zealand. Martinov-Bennie (2009) and Hecimovic
and Martinov-Bennie (2011) look at the impact of the introduction of legally enforceable auditing
standards in the Australian environment and examine their impact. Salterio (2012) explores auditor
client negotiations based on 15 years of field observations. Coram etal. (2011) examine the com-
municative value of the audit report. Aldamen etal. (2012) examine audit committee characteris-
tics and firm performance during the global financial crisis. Finally, as noted at the outset, Trotman
etal. (2011) review 50 years of judgement and decision-making research in accounting.

3.6. Public sector accounting


Sixth are the studies of relevance to the practice of public sector accounting. To begin, Covick and
Davis (1990) point out a Government accounting anomaly whereby if the Government changed its
treatment of seigniorage and switched to coins rather than notes it would reduce the budget deficit.
Arthur (1990) discusses the usefulness of private sector accounting principles and information to the
public sector. McGrae and Aiken (1994) examine AAS 29 requiring Government to comply with
private sector accounting and reporting principles. Rahman etal. (1994) examine the public report-
ing issue in New Zealand. Jones and Puglisi (1997) examine the costs and benefits of AAS 29.
Barton (1999b) makes the case that private sector accounting and reporting principles must be
adopted for use in Government. In conjunction, Barton (1999a) points out an anomaly that requires
Government to value the land under roads which he argues to be a public good and thereby does
not meet the normal criterion for asset recognition. Barton (2003) also points out that based on its
financial statements, the Department of Defence is a highly profitable business yet it sells nothing
and is dependent on Government appropriations for its income, a highly anomalous outcome of the
consolidation of private and public sector accounting and reporting principles.
Christensen (2003) gives an economically motivated explanation behind the historical develop-
ment of Government accounting principles based on mimetic isomorphism and the interplay
between self-interest and perceived public interest. Other interesting reviews of the historical
development in this area are given by Guthrie etal. (2003) and Officer (2004). Barton (2007) and
Christensen (2007) conduct an interesting debate regarding the appropriateness of the dual accrual
and budgeting method of accounting the Government Finance Statistics system and the Australian
Accounting Standards system adopted by Government. Barton (2009) discusses the uses and
abuses of accounting in the public sector and describes how the two methods of accruals lead to
different and confusing reported results.
The debate on the type of accounting system has continued in recent years with Holder (2011)
who argues at the higher level that the merging of private sector and Government accounting prac-
tices makes sense, but it is as one focuses on more specific reporting requirement that the issue
becomes more contentious. Trewavas etal. (2012) examine the impact of IFRS on Government
accounting and Redmayne and Laswad (2013) look at the impact of IFRS on public sector audit
fees and effort. Finally, Bolivar and Galera (2012) discuss the role of fair value accounting in the
public sector.

3.7. CSR and environmental issues


The seventh and final major area of impact in practice relates to issues surrounding CSR. As
revealed through the identification of top-cited papers in Tables 2 and 4, CSR and environmental
Benson et al. 67

papers have played a prominent role in the AAAJ, AAR and Abacus. As such, the material below
only touches on the body of research that has been conducted within this domain.
Here, early work focused narrowly on environmental issues while latterly the research has
expanded to cover the broader scope of a firms CSR activities. This work has focused on a number
of dimensions, notably the decision to voluntarily disclose CSR (environmental) performance
information, the association between CSR (environmental) disclosure and CSR (environmental)
performance, financial performance and market valuation, and the merits of investment strategies
based on a firms CSR profile.
Within the literature focusing on the disclosure decision, two contrasting motivations have
emerged, with one stream arguing that firms disclose for legitimisation reasons and the other for
signalling purposes. Examples of studies that examine firms environmental and/or sustainability
(CSR) disclosure practices include Kelly (1981), Burritt and Welch (1997), Frost etal. (2005),
Clarkson etal. (2011b), and De Villiers and Van Staden (2011, 2012). Frost (2007) discusses man-
datory environmental reporting guidelines. Relatedly, Moroney etal. (2012) examine the impact of
assurance on voluntary environmental disclosures. Studies that narrow the debate to a firms car-
bon emissions include that by Luo etal. (2013). Relatedly, Burritt etal. (2011) consider carbon
management accounting.
Turning to financial performance and investment practice, Copp etal. (2010) examine the legal
and financial implications for fund managers investing in socially responsible investments during
downturns. Humphrey etal. (2012) look at the effects of CSR initiatives on firm performance
while in a cross-country study, Bird etal. (2012) examine the market acceptance of CSR policies.
Cotter and Najah (2012) examine institutional investor influence on global climate change disclo-
sure practices. Perez-Gladish etal. (2012) use survey research to profile the characteristics of CSR
investors while Galbreath and Shum (2012) further explore the link between CSR and firm perfor-
mance and Chapple etal. (2013) document the valuation relevance of a firms carbon emissions.

4. Research methods
The diversity of topics covered by accounting research necessitates the application of a variety of
different research methodologies. Unlike Finance which is only now beginning to employ alterna-
tive methodologies to quantitative,7 driven by this necessity, accounting has a long and rich history
of embracing a wide variety of research methodologies, methodologies that range from heavily
quantitative to wholly qualitative in nature. In this section, we selectively list a few from the many
available published papers to highlight the use of these different methodologies.
To begin with illustrations of the use quantitative methodology and the breadth of topics to
which it has been applied, an early example is Ball etal. (1977) which examines capitalisation
changes and information. More recent examples of quantitative research methods include Lepone
etal. (2013) who examine analyst reports and information, Bird etal. (2013) who look at market
reaction to information released by mining firms, Aldamen and Duncan (2013) who examine the
pricing of accruals, Goncharov etal. (2013) who examine the effects of asymmetric information
and insider trading, Bachoo etal. (2013) who look at the valuation effects of sustainable reporting,
Hwang and Lee (2013) who examine the predictability of residual income-based valuations, Tao
and Hutchinson (2013) who examine the effects of risk management and compensation commit-
tees on firm risk, Ho and Taylor (2013) who examine corporate governance and voluntary disclo-
sure, and Luo etal. (2013) who examine carbon disclosure in emerging and developed countries.
Methodologies alternative to the quantitative include survey and experimental methodologies,
as well as qualitative research methodology in the form of interviews. For example, Lee (1981)
uses survey methodology to examine accounting professionals views on cash flow reporting,
68 Australian Journal of Management 40(1)

Roberts (1999) uses survey methodology to determine user information satisfaction and
Subramaniam and Lambert (1993) use survey methodology to examine the status of women aca-
demic accountants. Alternatively, Wilkins and Zimmer (1983) use experimental methodology to
examine the effects of different methods of accounting for leases, Trotman and Zimmer (1986) use
experimental methodology to examine revenue recognition, and Chang etal. (2008) use experi-
mental methods to determine the impact of management forecasts on investor behaviour. Whiting
(2008) employs qualitative research methodology to explore accountants worklife balance
choices. More broadly, Abernethy etal. (1999) review experimental, survey and field research in
managerial accounting research. From a methodological perspective, Tung (2000) outlines the pros
and cons of mail survey methodology, Liyanarachchi (2007) discusses the feasibility of using stu-
dent subjects in accounting experiments, and Lillis (1999) lays out a qualitative research frame-
work for the analysis of interview data when there are multiple field sites.
Finally, recent examples of the use of experimental methodology include Cheng and Mahama
(2011) who examine biases in investment evaluation review and Birt and Shailer (2011) who
examine investor confidence under segment reporting. Holmes etal. (2012) uses both experimental
and survey methodologies to examine ethical behaviour while De Villiers and Van Staten (2012)
use online survey methodology to examine shareholder attitudes towards corporate environmental
disclosure. Katselas etal. (2011) use content analysis to examine international firm lobbying activ-
ities. Roybark etal. (2012a, 2012b) use a historical research methodology to study the Governmental
Accounting Standards Board.

5. Noted authors
The nine regional accounting journals have attracted the top international researchers, indicative of
their broader reputation. Here, the most prolific author is R. J. Chambers with over 30 articles
published across the journals and two special issues of Abacus on his research. This work ranges
from research on Continuously Contemporary Accounting in Chambers (1970) to accounting as
a science in Chambers (2000). Other examples of internationally respected accounting researchers
who have published in the journals over the years include Ray Ball and Philip Brown, two of the
real pioneers of modern accounting research, as well as Mary Barth, Garry Biddle, Peter Easton,
Jennifer Francis, Mike Gibbins, Jim Ohlson, Stephen Penman, Terry Shevlin, Clifford Smith, Ross
Watts and Robert Whaley.8 Of this list, Philip Brown is the most active in the regional journals,
with over 20 publications.
The nine regional accounting journals continue to attract the leading international accounting
researchers as evidenced over the most recent years. Here, the list includes Wayne Guay and SP
Kothari who examine the use of analyst forecasts to imply cost of capital (Guay etal., 2011), Chris
Armstrong, George Foster and John Hand who examine market to revenue multiples of public and
private companies (Armstrong etal., 2011), Ron Kasznik (with George Foster) who examine the
importance of country and industry factors versus company specific reporting information to valu-
ation internationally (Foster etal., 2012), Ilia Dichev who examines the relation between growth
and the aggressiveness of accounting choices (Dichev and Li, 2013), Paul Griffin as a relatively
regular contributor illustrated by his examination of the association between CSR disclosure and
company political interests (Griffin and Sun, 2013), as well as a continued presence by Philip
Brown as evidenced by, for example, his review pieces on 10 years of IFRS (Brown and Tarca,
2012a, 2012b) and re-examination of the association between corporate governance and disclosure
(Beekes etal., 2014).
Finally, a recent special issue of the AJM highlights work by noted Australian researchers situ-
ated both at Australian universities and abroad. Here, both Terry Shevlin and Greg Clinch focus on
Benson et al. 69

the economic consequences of financial reporting quality, with Shevlin (2013) presenting a review
of, and reflection on, the empirical literature investigating the association between financial report-
ing quality and the cost of equity capital and Clinch (2013) analytically examining the links
between disclosure quality, diversification, and cost of capital. In co-authored work, Stephen
Taylor examines whether IFRS adoption has had an impact of accruals quality (Lai etal., 2013),
Doug Skinner focuses on accounting standards by undertaking a review of the empirical literature
into the politics of standard setting (Gipper etal., 2013), Patricia Dechow presents a review of the
literature into the merits of financial ratio models in identifying and understanding the implications
of corporate events (Ak etal., 2013), and lastly, Richard Sloan proposes and validates an approach
based on fundamentals for evaluating investing strategies (Chee etal., 2013).

6. Conclusions
In this paper, we have reviewed scholarly accounting research published in nine of the main Asia
Pacific region academic accounting journals, Accounting, Auditing & Accountability Journal,
Australian Accounting Review, Abacus, Accounting and Finance, Australian Journal of Management,
Accounting Research Journal, Journal of Contemporary Accounting and Economics, Managerial
Auditing Journal, and Pacific Accounting Review. The focus of our review is both on the key
accounting research trends within the region and on the impact of regional accounting research on
academe and practice.
Our review of the papers published in these nine journals reveals that while the greatest number
of papers is in the area of financial reporting, the research is broad and diverse in nature addition-
ally covering topics ranging from financial analysis, auditing and governance to topics related to
management accounting, social and environmental issues, and accounting education.
Notwithstanding this breadth of coverage, the review also reveals differing topical emphases across
the nine journals in a fashion largely consistent with each of their statements of Aims and Scope.
In conjunction, our review also confirms that given the diversity of topics covered by accounting
research, of necessity the research has been conducted using a variety of methodologies, ranging
from the heavily quantitative to the wholly qualitative.
A comparison of papers published during the most recent 3-year period (20112013) with ear-
lier work also suggests that over time, publications in the regional accounting journals have gained
greater recognition and now occupy a position of note within both the regional academic commu-
nity and its broader international counterpart. Here, for example, not only do these papers make
reference to papers published in the top international academic accounting journals, they also make
significant reference to papers published within the nine regional journals, although the source
journal varies consistent with the differing emphasis of each journal. In conjunction, the references
accompanying papers published in the top four international accounting journals indicate that work
published in the nine regional journals is also receiving much broader international recognition.
Finally, our review reveals that the nine regional accounting journals have historically been sup-
ported by notable authors from within the international academic accounting community and con-
tinue to be so. These authors include Ray Ball, Philip Brown, Mary Barth, Peter Easton, George
Foster, Jennifer Francis, Paul Griffin, Jim Ohlson, Stephen Penman, Terry Shevlin and Ross Watts.
Here, the interest taken by authors with international stature such as the aforementioned in utilising
the regional accounting journals for the dissemination of their work further underscores the place
occupied by the nine regional academic accounting journals within the discipline.
Taken together, the findings from our review lead us to the conclusion that the accounting jour-
nals published within the Asia Pacific region make a significant contribution to research and prac-
tice both within the region and internationally.
70 Australian Journal of Management 40(1)

Acknowledgements
Comments and suggestions by Ellie Chapple, Robert Faff, Frank Finn and Mike Bradbury are gratefully
acknowledged.

Funding
This research received no specific grant from any funding agency in the public, commercial, or not-for-profit
sectors.

Notes
1. As explained by Benson etal. (2014), Accounting and Finance (AF) can trace its roots back to 1960
where it began life as a news bulletin, morphing into an accounting education journal in 1973 and then
becoming a full blown academic research journal with the publication of its 19th volume in 1979 with
Bob Officer as its Editor (at which time it adopted its current journal title).
2. Specifically, to obtain the citation counts, we use Publish or Perish, a software program that retrieves
and analyses academic citations using Google Scholar, and since release 4.1, Microsoft Academic
Search. The program obtains the raw citations and then presents a number of metrics relating to the cita-
tions including the total number of papers and total number of citations, and the average citations per
paper, citations per author, papers per author and citations per year.
3. With the exception of PAR, the list of articles was sourced from Scopus; the list of articles for PAR which
is not currently covered by Scopus, were hand collected.
4. The figures for Abacus have been impacted by a special issue (January 2013) of 12 finance articles
focused on the CAPM.
5. The figures for AF align relatively well with those presented by Gaunt (2014) who finds, for the period
20002012, 39.11% of research papers were accounting-oriented .
6. The citation counts are total citations.
7. See Gippel (2013) and Kaczynski etal. (2013).
8. Examples of their work include Ball etal. (1977), Barth (2000), Biddle and Choi (2006), Dechow (1987),
Easton (1991), Francis (1989), Gibbins (1997), Ohlson (1978, 2005), Penman (2009, 2010), Shevlin
(1981, 1982), Sloan (1987), Smith and Watts (1982) and Birt etal. (2006).

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86

Appendix 1. Journal overview for nine Asia Pacific region accounting journals.

Abbreviation Journal name Year of Founding Impact 2013 ABDC Aims and Scope
first issue editors Factor rating
AAAJ Accounting, 1988 Lee Parker, 1.101 A Dedicated to the advancement of accounting knowledge, the Accounting,
Auditing and James Auditing and Accountability Journal publishes high-quality manuscripts
Accountability Guthrie concerning the interaction between accounting/auditing and their socio-
Journal economic and political environments, encouraging critical analysis of
policy and practice in these areas. The journal also seeks to encourage
debate about the philosophies and traditions which underpin the
accounting profession, the implications of new policy alternatives and the
impact of accountancy on the socio-economic and political environment.
AAR Australian 1991 Linda English 0.825 B The Australian Accounting Review (AAR) is the pre-eminent, peer-reviewed
Accounting journal published four times a year on behalf of CPA Australia. AAR
Review is positioned at the intersection of business and academe and features
articles by leading practitioners and researchers. It aims to provide
in-depth discussion and critical analysis of developments affecting
professionals in all areas of finance, accounting and business. Articles
published in Australian Accounting Review should be relevant to the
journals primary readership: the Australasian and international academic,
professional, business, government and regulatory communities.
Motivation for articles should be located in current events/problems that
affect the business and professional communities, and in the literature.
Abacus Abacus 1965 Ray 0.821 A Since 1965 Abacus has consistently provided a vehicle for the expression
Chambers of independent and critical thought on matters of current academic and
professional interest in accounting, finance and business. The journal
reports current research; critically evaluates current developments in
theory and practice; analyses the effects of the regulatory framework
of accounting, finance and business; and explores alternatives to, and
explanations of, past and current practices.
(Continued)
Australian Journal of Management 40(1)
Appendix 1. (Continued)

Abbreviation Journal name Year of Founding Impact 2013 ABDC Aims and Scope
first issue editors Factor rating
Benson et al.

AF Accounting 1979 Bob Officer 0.796 A This established journal publishes theoretical, empirical and experimental
and Finance papers that significantly contribute to the disciplines of accounting and
finance. Using a wide range of research methods including statistical
analysis, analytical work, case studies, field research and historical
analysis, articles examine significant research questions from a
broad range of perspectives. Accounting & Finance applies economic,
organizational and other theories to accounting and finance phenomena
and publishes occasional special issues on themes such as on research
methods in management accounting.
AJM Australian 1976 Philip Brown 0.795 A The Australian Journal of Management is an international peer-reviewed
Journal of journal that publishes research in accounting, applied economics,
Management finance, industrial relations, political science, psychology, statistics, and
other disciplines, provided the application is to management, as well
as research in areas such as marketing, corporate strategy, operations
management, organisation development, decision analysis, and other
problem-focused paradigms.
ARJ Accounting 1988 Myles na B Providing a valuable international forum for communication between
Research McGregor- professionals and academics on emerging areas in contemporary
Journal Lowndes accounting research and practice, the Accounting Research Journal
embraces a range of methodological approaches in identifying and solving
significant emergent problems and accounting issues.
JCAE Journal of 2005 Ferdinand 0.632 A The Journal of Contemporary Accounting and Economics is dedicated to
Contemporary Gul, Dan publishing high-quality manuscripts that rigorously apply economics
Accounting Simunic and legal theory to accounting/auditing with an emphasis on empirical
and Economics research. While there is a special focus on issues relevant to the Asia-
Pacific region, the Journal of Contemporary Accounting and Economics also
encourages submissions from countries outside the Asia-Pacific region
in the following major areas as related to accounting and auditing issues:
financial contracts, corporate governance, capital markets, financial
institutions and economics of organisations.
87
88

Appendix 1. (Continued)

Abbreviation Journal name Year of Founding Impact 2013 ABDC Aims and Scope
first issue editors Factor rating
MAJ Managerial 1986 na B The Managerial Auditing Journal provides a dynamic global forum for the
Auditing examination of current research and practice in auditing and assurance
Journal (internal and external; financial and non-financial). The journal addresses
the relation between theory and practice by exploring trends, paradigms
and perspectives, including the ethical, social, environmental and
economic aspects of contemporary assurance, management performance
and governance issues. The journal pushes new boundaries for audit
and assurance research by seeking to identify new knowledge and
practice through the promotion of a dialogue between academics and
practitioners.
PAR Pacific 1988 Ken Moores, na B Pacific Accounting Review publishes research papers and book reviews
Accounting Alan from all areas of accounting and finance. Although offering a unique
Review MacGregor forum for research relating to the Pacific region, the journal also
welcomes papers which focus on other geographic areas, recognising
the importance of all forms of research into current developments in
accounting and finance and providing insights into how present practice
is shaped and formed.
Australian Journal of Management 40(1)