No abstract

Abstract:This study examined the association of accounting conservatism with investment efficiency, and its effects on investment efficiency by mitigating firms from under and over investments of listed companies in China (2002China ( to 2013. First, we find the existence of conservatism in accounting practices of Chinese firms, later to hypothesize that how conservatism improves investment efficiency to alleviate under or over investment stresses. Thus, our findings confirmed that accounting conservatism improves investment efficiency of Chinese firms by mitigating under (over) investments. Furthermore, significant correlation existed for investment efficiency with free cash flow and corporate governance such as CEO duality and percentage of board members. In robust test, we find conservatism reduces the CEO duality and top one shareholder tunneling effect which may cause agency problem.

The purpose of this research is to explore the association among energy, environment and economic growth in Latin-American countries from 1990-2014 by using multivariate Structure. This study used number of co-integration techniques to confirm log run relationship among environment, and energy. The study findings also show the effect of the energy on environment in the long run by using FMOLS and DOLS. In addition, this research also employed the causality test to study the causal relation among the variables. The outcomes of the various tests of co-integration endorse a longrun relationship among renewable energy (REN) and non-renewable (NREN) consumption and environment. The long run results show that the use of renewable energy source can reduce the CO 2 emissions in selected countries. Moreover, the non-renewable energy consumption is increasing CO 2 emissions. In addition, the direction of the causality is unidirectional from REN to CO 2 , NREN to CO 2 and GDP to CO 2 . However, there is absence of two-way causality among the variables in the model.

Conditional conservatism is strict verification of losses than gains and in timely recognition of earnings by reflecting bad news more quickly than good news. This study inspects the relation of conditional conservatism and the cost of capital. This paper examines whether timely loss recognition in financial reporting lowers the cost of capital in China A-Share listed enterprises registered in Shenzhen and Shanghai stock exchanges. This research analyse the penal data over the period 2002 to 2013. We find that conservatism reduces the cost of capital by decreasing dividend payoff, and conservatism reduces the agency conflict by reducing dividend payoff. Paper enhances the extant literature in same vein research by indulging different variables, sample size and period.

This study explores the effects of tourism, quality of institutions and FDI on environmental degradation inPakistan for the two time periods i.e. 1996-2017 and 2000-2017. Quality of institutions is included in the time period2000-2017 which is adopted from world governance indicators but due to lack of the data it has not been included insecond time (1999-2017). To find out the relationship among given variables, Ordinary Least Square (OLS) regressionwas carried out, moreover, Breusch-Godfrey Serial Correlation LM test, Heteroscedasticity Test and HistogramNormality test were also applied to diagnose the econometric issues in the given models. The findings of the studyrevealed that tourism is significant and influential factor of environmental degradation in Pakistan. Similarly, foreigndirect investment is also contributing in environmental degradation but its effect is insignificant for both time periods.On the other hand, an inverse relationship is observed between quality of institution and environmental degradation.The outcomes of the study suggest that environmental degradation can be overcome by increasing the quality of theinstitutions. Moreover, the government initiatives to attract foreign tourists by introducing new visa policy, whichincludes; electronic visa, on arrival visa and opening new avenues for tourists (e.g. Kartarpur Corridor and CPECinitiatives etc.) will have tremendous impact on the national economy. However, environmental degradation is theoutcome of tourism, therefore, policy maker’s needs to consider the negative effects of tourism in addition to itspositive effects on the economy.