1. Department of Accounting, School of Management, Center for Management Accounting ResearchJinan University Guangzhou China
2. College of Business AdministrationUniversity of Rhode Island Kingston Rhode Island
3. Center for Accounting, Finance and Institutions, Business SchoolSun Yat‐sen University Guangzhou China
4. Department of Finance, Lingnan (University) CollegeSun Yat‐sen University Guangzhou China