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Social ties may either help chief executive officers (CEOs) supervise chief financial officers' (CFOs) behaviors effectively and improve financial reporting quality or lead to collusion and undermine financial reporting quality. Therefore, this paper examines the impact of social ties between CEOs and CFOs on financial reporting quality.

This paper constructs the CEO–CFO social ties through their mutual alma mater or birthplace. Based on 6,787 Chinese non-financial firm-year observations from 2003 to 2020, the paper conducts an empirical test using the multiple regression method.

The main finding is that firms with CEO–CFO social ties are more likely to exhibit higher financial reporting quality. CEOs with social ties to CFOs can obtain a high level of information and exert a better supervisory and monitoring role. Further, CEO–CFO social ties are more effective when the CEO does not have a financial background and when the institutional environment is weak.

This paper mainly contributes to the literature exploring the impact of executive characteristics on financial reporting quality and the literature examining the relation between social ties and corporate behaviors. Meanwhile, the paper emphasizes the important role of social ties as an informal monitoring mechanism in practice.

This study investigates the implementation challenges and economic consequences of the International Financial Reporting Standards 9 (IFRS 9) Financial Instruments.

Descriptive evidence on equity asset reclassifications and estimated impairment using the new expected credit loss (ECL) model are presented. Multivariate analyses on the disposal of available-for-sale (AFS) and fund investment post-announcement and the value relevance of impairments to financial assets post-implementation are performed.

Over 60% of sample firms report inconsistent equity asset reclassifications and do not change estimated impairment using the new expected credit loss model. Firms also switch from AFS to equity fund investments post-announcement. Lastly, impairments to financial assets increase in value relevance to investors’ post-implementation, but only in financial institutions and firms with Big 4 auditors.

This study's findings suggest that IFRS 9 presents implementation challenges and changes equity investment strategies. They also indicate cross-sectional differences in firms' ability to effectively apply the new standards. This study is valuable for policymakers, business leaders, investors and academics.

The purpose of this study is to present a comprehensive review of the fundamental concepts and terminologies pertaining to different types of aluminium metal matrix composites, their joining techniques and challenges, friction stir welding (FSW) process, post-welding characterizations and basic control theory of FSW, followed by the discussions on the research reports in these areas.

Joining of aluminium metal matrix composites (Al-MMC) poses many challenges. These materials have their demanding applications in versatile domains, and hence it is essential to understand their weldability and material characteristics. FSW is a feasible choice for joining of Al-MMC over the fusion welding because of the formation of narrow heat affected zone and minimizing the formation of intermetallic compounds at weld interface. The goal in FSW is to generate enough thermal energy by friction between the workpiece and rotating tool. Heat energy is generated by mechanical interaction because of the difference in velocity between the workpiece and rotating tool. In the present work, a detailed survey is done on the above topics and an organised conceptual context is presented. A complete discussion on significance of FSW process parameters, control schemes, parameter optimization and weld quality monitoring are presented, along with the analysis on relation between the interdependent parameters.

Results from the study present the research gaps in the FSW studies for joining of the aluminium-based metal matrix composites, and they highlight further scope of studies pertaining to this domain.

It is observed that the survey done on FSW of Al-MMCs and their control theory give an insight into the fundamental concepts pertaining to this research area to enhance interdisciplinary technology exploration.