Mai Dao
University of Toledo
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Publication
Featured researches published by Mai Dao.
Management Decision | 2009
Alexander Brüggen; P.G.M.C. Vergauwen; Mai Dao
Purpose – The purpose of this paper is to examine determinants of the decision to disclose intellectual capital in annual reports.Design/methodology/approach – The paper derives theoretical predictions from the previous literature and bases the study on archival data with a sample of 125 publicly listed Australian firms. The authors perform a content analysis of annual reports and complement the data with quantitative data from the sample firms.Findings – The paper finds that industry type plays a key role as a determinant for the disclosure of intellectual property in annual reports. In addition, firm size is another determinant for intellectual disclosure of firms. In contrast with earlier studies and theoretical predictions of voluntary disclosure, however, the paper does not find any relationship between the level of information asymmetry and intellectual capital disclosure.Research limitations/implications – One limitation refers to the content analysis. Analyzing the annual reports based on the spec...
Managerial Auditing Journal | 2014
Mai Dao; Trung Pham
Purpose - – This paper aims to examine the association between audit firm tenure and audit report lag (ARL) and the impact of auditor industry specialization on the association between audit firm tenure and ARL. Design/Methodology/Approach - – Using Habib and Bhuiyan’s (2011) method of measuring auditor industry specialization, the authors examine the sample of 7,291 firm-year observations from 2008 to 2010. Findings - – The authors find that auditor industry specialization (regardless of city-level, national-level and joint city- and national-level industry specialization) weakens the positive association between ARL and short audit firm tenure, suggesting that auditor industry specialization complements the negative effect of short audit firm tenure on ARL. Originality/value - – First, the authors add to the literature by answering the question of whether hiring industry auditor specialists is an effective way to shorten ARL created by short audit tenure. The authors provide some evidence that the concern of short audit tenure leading to longer ARL is reduced by hiring an industry-specialized auditor. Prior research mainly focuses on identifying the determinants of ARL without going further to find out which are the effective ways to reduce the audit delay. Second, their findings can somehow resolve the debate on whether audit firm rotation should be mandatory. A new auditor’s lack of knowledge of clients’ business operations during the early years of audit engagements results in longer ARL, which eventually influences the clients’ financial performance. The authors result suggests the firms can reduce this adverse consequence by hiring an industry-specialized auditor. Finally, their findings may provide helpful information to firms in selecting external auditors, public accounting firms in selecting a differentiation strategy and regulators in mandating audit firm rotation.
Asia-pacific Journal of Accounting & Economics | 2017
Robert J. Parker; Mai Dao; Hua Wei Huang; Yun-Chia Yan
As mandated by Sarbanes-Oxley Act, firms must disclose material weaknesses in internal controls. This study extends the body of accounting research that seeks to identify the factors associated with such disclosure. Drawing upon gender research in the behavioral sciences, we argue that female audit committee members examine internal controls more critically and thoroughly than their male counterparts; hence, firms with females in these positions are more likely to report problems. A logistic regression model of material weakness disclosure is developed that includes, as a predictor variable, proportion of females on the audit committee. Results support the proposed relationship.
European Accounting Review | 2018
Hongkang Xu; Mai Dao; Alex Petkevich
Abstract This paper investigates the impact of political corruption on auditor behavior in the United States. We find that US firms headquartered in more corrupt regions pay higher audit fees, have longer audit report lags, and are more likely to receive a going concern audit opinion. Political corruption is a manifestation of a weak institutional environment and, as such, weakens the rule of law. In addition, political corruption erodes the public’s belief in a political system and reduces interpersonal trust. Our results suggest that auditors assess the risk and trustworthiness of their clients based on where firms are headquartered. The results are robust to using a 2SLS regression analysis and a propensity-score-matched sample. This study extends the prior research on political corruption and the client risk management strategies used by external auditors. Moreover, the current study will be helpful to regulators considering the more explicit role of external auditors in corruption risk assessment.
Review of Pacific Basin Financial Markets and Policies | 2017
Hua Wei Huang; Mai Dao; Wen Chi Sun
The public controversies over the implementation of Statement of Financial Accounting Standard No. 157 (SFAS 157) and its impact on the recent financial crisis motivate us to examine the association between fair values and reporting lags. With a sample of U.S. banking institutions, we find that less verifiable fair value information is associated with longer earnings announcement lag and audit report lag. Longer earnings announcement lags resulting from less verifiable fair value information are due to the additional time of managerial estimations. Less verifiable fair values may also result in longer audit report lags due to the added training for auditors. Our study extends the current literature on fair values and reporting lags. Our findings contribute to the contemporary research on the timeliness of financial information disclosures which promotes the efficient functioning of the economy. Moreover, the findings of our study may be of interest to the global regulators, investors and other financial statement users.
Journal of Business Finance & Accounting | 2017
Wen Chi Sun; Hua Wei Huang; Mai Dao; Chaur Shiuh Young
This study examines the association between the selection of an industry specialist auditor and corporate social responsibility (CSR). We find that firms with higher CSR ratings are more likely to hire industry specialist auditors (national-level industry leaders, city-level industry leaders, or joint city-national industry leaders). Moreover, firms with better CSR performance related to product quality and the environment in controversial industries are found to select non-specialized auditors. The results suggest that such firms may overinvest in CSR activities associated with the environment and product issues to disguise the sin nature of their manufactured goods, and simultaneously engage low quality auditors perhaps to avoid full disclosure of potential environmental and legal liabilities. Overall, we conclude that CSR is associated with the non-controversial firms ensuring high quality financial reporting in response to societal expectations, and thus CSR firms in such industries have strong incentives to engage industry specialist auditors. n nThis article is protected by copyright. All rights reserved
The Accounting Review | 2012
Mai Dao; K. Raghunandan; Dasaratha V. Rama
Accounting Horizons | 2008
Mai Dao; Suchismita Mishra; K. Raghunandan
Journal of Business Finance & Accounting | 2014
Mai Dao; Hua Wei Huang; Ken Y. Chen; Ting-Chiao Huang
Review of Quantitative Finance and Accounting | 2016
Hua Wei Huang; Mai Dao; James M. Fornaro