Purpose While the existing literature lacks a holistic approach to determining credit spreads and is limited to mostly developed countries, this study investigates credit spread determinants and their cross-country connectedness in the context of four emerging economies in Asia by incorporating bonds, market risk, macroeconomic and global factors. Design/methodology/approach This study utilizes principal component analysis for dimensionality reduction and variable representation. Furthermore, we employ the dynamic conditional correlation–generalized autoregressive conditional heteroskedasticity model to capture the cross-country credit spread connectedness between the variables. Findings The findings indicate that market volatilities are the most significant drivers of credit spreads, while global factors play a moderating role. Furthermore, the results provide compelling evidence of cross-country credit spread connectedness, with China as the primary transmitter and Malaysia as the primary receiver among the selected emerging economies. Originality/value This study addresses the limitations of previous research by extending the analysis beyond the commonly studied developed economies and focusing on emerging economies in Asia. It also employs a comprehensive approach to determine credit spread and explores cross-country credit spread connectedness in developing economies, thereby shedding light on financial risks and vulnerabilities within interconnected global financial systems.

Purpose Although publicly listed firms in Sri Lanka have been increasingly adapting sustainability reporting into their annual reporting practices, a limited number of firms prepare sustainability reports by integrating sustainable development goals (SDGs) into reporting mechanisms. This study attempts to develop an index to monitor firms' sustainability reporting practices based on Global Reporting Institute (GRI) guidelines integrating SDGs. Design/methodology/approach This paper develops a sustainability score index using the 17 SDGs utilising the results of content analysis of corporate annual reports of a selected sample of 100 firms listed on the Colombo Stock Exchange (CSE). Principal component analysis was employed to examine the reliability of data in the developed index. Findings Findings show that the developed scoring index is efficient for evaluating the contents of the sustainability reports of Sri Lankan firms. Sustainability reporting practises with regard to the SDGs were observed to have a turbulent period from 2015 to 2019 and the SDGs 12 and 15 were identified to be mostly reported in Sri Lankan corporate sustainability reports. Research limitations/implications The results of the study add to knowledge on the monitoring of sustainability reporting practises with reference to SDGs. The study outcomes are useful for the investors, stakeholders, and statutory bodies to measure the sustainable performance of business firms and assess the firm’s commitment towards the global sustainability agenda. Originality/value To the best of our knowledge, this is the first study that constructs a sustainability reporting score index integrating SDGs.

Purpose This study aims to examine the factors affecting accounting students’ adoption of artificial intelligence (AI) in Vietnam. Design/methodology/approach This study employs an empirical analysis based on hand-collected data from 275 accounting students in Ho Chi Minh City, Vietnam. The study model was performed using the partial least squares structural equation modelling methodology, facilitated by SmartPLS 4.0. Findings The study results show that perceived usefulness, perceived ease of use (PEOU), AI literacy, social influence (SI), facilitating conditions and technology readiness are positively associated with AI adoption by accounting students. The findings suggest the important role of SI in shaping the relationship between PEOU and AI adoption. Research limitations/implications This study is limited to universities in Ho Chi Minh City, Vietnam, with a small sample size, which may reduce the generalisability of findings to other cities in Vietnam or other countries due to different regulations. Future research could examine comparative and cross-country analyses within similar institutional settings. Practical implications The study findings suggest that universities should consider offering more AI-related subjects to improve students’ AI proficiency and capacity. Originality/value This study examines the determinants of AI adoption by accounting students in Vietnam, addressing a previously unexplored area in the literature.

Purpose The main purpose of this study is to examine the disclosure of earnings forecasts in firms' prospectuses to explain investor demands or, in other words, oversubscription rates of Malaysian initial public offerings (IPOs). Design/methodology/approach Ordinary least squares and robust methods were used to examine cross-sectional data comprising 466 fixed-price IPOs reported for the period from January 2000 to February 2020 on Bursa Malaysia. Findings The results showed that IPOs with earnings forecasts obtained higher oversubscription rates than those without earnings forecasts. IPOs with earnings forecasts provide value-relevant signals to prospective investors about the good prospects of firms, resulting in an increase in the demand for IPO shares. For the IPO samples listed during the global financial crisis (GFC) period, IPOs with earnings forecasts had negative impacts on the oversubscription rates. These results were robust to quantile methods and the two-stage least squares method. Research limitations/implications The research findings provide fresh information for investors regarding the importance of earnings forecasts as a trustworthy signal of a firm’s quality when making share subscription decisions. Practical implications The regulator is advised to encourage issuers to include earnings forecasts in their prospectuses since such forecasts help to increase the demand for IPOs. Originality/value This study contributes to the literature by offering empirical evidence regarding the signalling impact of earnings forecast disclosures on investor demands for Malaysian IPOs. Moreover, this study provides evidence demonstrating the impact of earnings forecast disclosures on oversubscription rates of Malaysian IPOs during the GFC period.

Purpose Based on the contingency theory and resource-based view, this study develops and tests a moderated mediation model explaining the performance implications of the interaction between the accountants’ participation in strategic decision-making (APAR) and accounting capacity (ACAP) in promoting the use of management accounting systems (MAS) toward enhancing firm performance. Design/methodology/approach Using partial least squares structural equation modeling, the authors tested the proposed model and its hypotheses with survey data from 340 large Vietnamese firms. Findings The results indicate that (1) MAS act as the full mediator in the positive relationship between APAR and firm performance, and (2) ACAP positively moderates the effect of APAR on the use of MAS. Originality/value This study bridges the gap between accounting and strategic management literature by elucidating the mechanism by which the involvement of accountants in strategic issues improves the use of MAS toward enhancing firm performance and increases the current understanding of ACAP as a boundary condition for this mechanism.