Informacja

Drogi użytkowniku, aplikacja do prawidłowego działania wymaga obsługi JavaScript. Proszę włącz obsługę JavaScript w Twojej przeglądarce.

English (EN)·Polski (PL)·Yкраїнський (UK)
Przejdź do strony domowej biblioteki Centralna Biblioteka Wojskowa Link otwiera się w nowym oknie Logo biblioteki Prolib Integro - strona głównaCentralna Biblioteka Wojskowa

Wyszukujesz frazę "earnings" wg kryterium: Temat

  Lista filtrów
Wyrównaj
Wyświetlanie 31-45 z 112
Tytuł:
EARNINGS FORECASTS ERRORS IN PROSPECTUSES: EVIDENCE FROM INITIAL PUBLIC OFFERINGS ON THE WARSAW STOCK EXCHANGE
Autorzy:
Wawryszuk-Misztal, Anna
Powiązania:
https://bibliotekanauki.pl/articles/517198.pdf
Data publikacji:
2017
Wydawca:
Instytut Badań Gospodarczych
Tematy:
earnings forecasts
initial public offerings
IPO
Warsaw Stock Exchange
Opis:
Research background: Several studies investigated the issue of accuracy of earnings fore-casts disclosed in IPO prospectus because of its importance in the investor’s decisions. Disclosing earnings forecasts can reduce information asymmetry and encourage potential investors to buy offered shares. The accuracy of earnings forecasts, and especially its deter-minants, was explored by some researchers, but for Polish companies such studies have not been conducted. Purpose of the article: The first objective of this study is to examine the bias and accuracy of earnings forecasts disclosed in IPO prospectuses by Polish companies attempting to be listed on the main market of the Warsaw Stock Exchange. The second aim of this paper is to identify the relationship between the absolute fore-cast error employed as a measure of earnings accuracy and a number of company specific characteristics such as company’s size, leverage, forecast horizon, managerial ownership, number of shares offered to investors (in relation to total shares before IPO). Methods: The empirical analysis were conducted on a sample of 102 domestic companies that performed IPOs on the main market of the Warsaw Stock Exchange during 2006-2015 and disclosed earnings forecasts in IPO prospectus. The forecast error (FER) and absolute forecast error (AFER) were adopted as a measure of accuracy of earnings forecasts. The non-parametric test was employed to achieve the adopted aims. Findings & Value added: The results show that, on average, the forecasted earnings exceed the actual earnings (i.e. the earnings forecasts are optimistic) and fore-casts are inaccurate. Moreover, the optimistic forecasts are more inaccurate than pessimistic ones. The findings of multiple regression model show that three independent variables may affect the level of absolute forecast error: the company’s size, managerial ownership and forecast horizon.
Źródło:
Equilibrium. Quarterly Journal of Economics and Economic Policy; 2017, 12, 2; 229-243
1689-765X
2353-3293
Pojawia się w:
Equilibrium. Quarterly Journal of Economics and Economic Policy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Effects of tax sheltering on earnings management in Nigeria
Autorzy:
Osegbue, Ifeanyi Francis
Nweze, Austin
Ifurueze, Meshack
Nwoye, Chizoba Mary
Powiązania:
https://bibliotekanauki.pl/articles/692583.pdf
Data publikacji:
2019
Wydawca:
Uniwersytet Ekonomiczny w Poznaniu
Tematy:
tax sheltering
earnings management
cash ETR
tax savings
Nigeria
Opis:
This study examines how tax sheltering and its interactions with cash effective tax rate, long-term effective tax rate, tax savings, book tax gap, temporary difference of tax shelter and permanent difference of tax shelter impacted the modified Jones earnings model (earnings quality manage-ment) from 2009 to 2016. The study used a sample of all 116 listed companies on the Nigerian stock exchange ranging from all sectors excluding financial services sector due to its reporting system.  We concluded that the cash effective tax rate, long term effective tax rate, tax savings temporary and permanent tax difference are insignificant meaning that stakeholders in Nigeria are interested in companies that produce quality financial reports, which clearly shows that there is high earnings manipulation among Nigeria quoted companies as most firms manipulate earnings through abnormal accruals. 
Źródło:
Research Papers in Economics and Finance; 2019, 3, 2; 45-69
2543-6430
Pojawia się w:
Research Papers in Economics and Finance
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Institutional investors and real earnings management: A meta-analysis
Autorzy:
Kabaciński, Bartosz
Mizerka, Jacek
Stróżyńska-Szajek, Agnieszka
Powiązania:
https://bibliotekanauki.pl/articles/2058072.pdf
Data publikacji:
2022-07-11
Wydawca:
Uniwersytet Ekonomiczny w Poznaniu
Tematy:
real earnings management
institutional ownership
meta-analysis
corporate finance
Opis:
The aim of the article is to examine the inuflence of institutional investor ownership on real earnings' management (REM) practices through a meta-regression analysis (MRA) based on a sample of 225 estimations from 19 articles. Some of the available research suggests a mitigating role for institutional investors who can serve as external monitors and thus reduce earnings' management activities which could have a negative impact on the company's value. eTh results obtained from the basic model conrfimed neither the hypothesis about the inuflence of institutional ownership on REM, nor the hypothesis about the existence of a signicfiant publication bias. Using an augmented MRA model conclusions in diefrent areas associated with structural and methodological heterogeneity were drawn. Diefrences in the impact of institu tional ownership on real earnings' management in diefrent regions of the world, a de pendence of the results on diefrent data characteristics and diefrences in the results depending on whether the article was published in a top journal or not were found.
Źródło:
Economics and Business Review; 2022, 8, 2; 50-79
2392-1641
Pojawia się w:
Economics and Business Review
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Executive compensation, share ownership, and earnings management of banks in Nigeria
Autorzy:
Farouk, Musa Adeiza
Ahmed, Zik-Rullahi Abubakar
Powiązania:
https://bibliotekanauki.pl/articles/2185396.pdf
Data publikacji:
2023
Wydawca:
Uniwersytet Ekonomiczny w Katowicach
Tematy:
earnings management
executive
share ownership
compensation and expectancy theory
Opis:
Aim/purpose – Higher compensation and increased share ownership are believed to drive fewer earnings management. Therefore, the study examines the moderating impact of share ownership on the relationship between executive compensation and earnings management of listed Deposit Money Banks in Nigeria. Design/methodology/approach – Panel Least Square regression and Stata 13 were used for the estimation. The secondary data source was employed and extracted from the banks’ published financial statements covering the period from 2007-2018. Postestimation tests, including normality tests of standard error, heteroscedasticity, and multicollinearity, were carried out to validate the outcome. Executive compensation variable is represented by Chief Executive Officer Pay (CEO Pay), Board Chairman’s compensation, and the highestpaid director, while executive share ownership represents the mod-erator variable. Chang et al. (2008) model was used to proxy earnings management. Findings – The findings revealed that CEO Pay increases the banks’ level of earnings management, while after moderation with executive share ownership; CEO pay decreases the possibilities of earnings management by banks. Compensation to Chairmen of the banks decreases the level of earnings management of banks. However, an increase in share ownership of the board with an increase in compensation to chairmen of banks’ boards increases the earnings management practices of the management of the banks. Research implications/limitations – The findings imply that the executive ownership interest should be made to align with that of the minority shareholders following an increase in their stake so that they can act in the overall best interest of the owners. The study is limited to only the banking sector and some specific executive compensation variables. Originality/value/contribution – The utilization of the highest paid director variable and use of share ownership as a moderator between executive compensations and earnings management.
Źródło:
Journal of Economics and Management; 2023, 45; 26-43
1732-1948
Pojawia się w:
Journal of Economics and Management
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Znaczenie zysków zatrzymanych w procesie rekapitalizacji banków
The importance of retained earnings in the recapitalization of banks
Autorzy:
Półtorak, Bogusław
Powiązania:
https://bibliotekanauki.pl/articles/589989.pdf
Data publikacji:
2016
Wydawca:
Uniwersytet Ekonomiczny w Katowicach
Tematy:
Bank
Dywidenda
Kapitał
Rekapitalizacja
Zysk
Dividend
Earnings
Equity
Recapitalization
Opis:
W artykule zostały przedstawione warunki rekapitalizacji banków w polskim systemie bankowym poprzez mechanizm zysków zatrzymanych. Znaczenie zysków zatrzymanych dla przyrostu funduszy własnych ustalone zostało na podstawie danych o podziale zysków w polskim sektorze bankowym oraz dynamiki funduszy własnych. W badanym okresie można stwierdzić, że przeważająca część zysków sektora bankowego była przeznaczona na dokapitalizowanie i tym samym zwiększała bazę kapitałową banków. Tylko nieliczne banki prowadziły politykę wypłat większości zysków w formie dywidendy. Można też stwierdzić, że w relatywnie niewielkim zakresie proces rekapitalizacji był finansowany ze środków publicznych w ramach działalności Bankowego Funduszu Gwarancyjnego.
The article presents the conditions of the recapitalization of the banks in the Polish banking system. The main source of increasing own funds were retained earnings. The importance of retained earnings has been determined on the basis of data on the distribution of profits in the Polish banking sector and the dynamics of own funds. In the analyzed period, it can be said that most of the profits of the banking sector was dedicated to recapitalization. In individual cases occurred complete cessation of payment of dividends. To the relatively small extent the recapitalization process was financed from public funds.
Źródło:
Studia Ekonomiczne; 2016, 307; 92-102
2083-8611
Pojawia się w:
Studia Ekonomiczne
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Corporate Income Tax Changes in the Context of Earnings Management: a Review of the Literature
Autorzy:
Krzeczewska, Olga
Serra Coelho, Luís Miguel
Powiązania:
https://bibliotekanauki.pl/articles/2121897.pdf
Data publikacji:
2022-09-14
Wydawca:
Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
Tematy:
earnings management
tax incentive
tax rate change
tax reform
Opis:
The purpose of the article/hypothesis: This paper aims to provide a comprehensive review of the theoretical and empirical literature regarding tax-induced earnings management. In particular, the association between anticipated tax changes and earnings management is of interest to the authors. Methodology: This paper uses a systematic literature review to achieve its research objectives. Results of the research: The presented research is mostly devoted to tax rate decreases and focuses on accrual-based earnings management methods. In anticipation of a tax rate change, companies shift their income from a high to a low tax rate period. Moreover, the probability of tax-induced earnings management is higher in case of extreme changes in the tax rate, larger prospects for tax savings as well as in case of private firms. This paper identifies several inconsistencies and gaps in the current literature, emphasizing that the connection between firms’ characteristics, the level of book-tax conformity and the practice of earnings management remains unclear.
Źródło:
Finanse i Prawo Finansowe; 2022, 3, 35; 27-41
2391-6478
2353-5601
Pojawia się w:
Finanse i Prawo Finansowe
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
What should the optimal financial structure of FDI inflows to Poland be for stimulating growth processes?
Autorzy:
Kosztowniak, Aneta
Powiązania:
https://bibliotekanauki.pl/articles/18105220.pdf
Data publikacji:
2021-12-28
Wydawca:
Szkoła Główna Handlowa w Warszawie. Kolegium Zarządzania i Finansów
Tematy:
FDI
reinvestment of earnings
equity
debt instruments
GDP
VECM
Opis:
The article aims to answer a question what should the optimal financial structure of FDI inflows to Poland be for stimulating growth processes. The study on the dependence between financial components of FDI inflows and GDP for Poland covers the period 2004: Q1–2019: Q4. Results of the VAR/VECM model and forecast error variance decomposition indicated that in the optimal (growth-enhancing) structure of FDI inflows the share of equities and the reinvestment of earnings should be maximised.
Źródło:
Journal of Management and Financial Sciences; 2021, 42; 25-38
1899-8968
Pojawia się w:
Journal of Management and Financial Sciences
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Does the life cycle affect earnings management and bankruptcy?
Autorzy:
Durana, Pavol
Michalkova, Lucia
Privara, Andrej
Marousek, Josef
Tumpach, Milos
Powiązania:
https://bibliotekanauki.pl/articles/19233663.pdf
Data publikacji:
2021
Wydawca:
Instytut Badań Gospodarczych
Tematy:
earnings management
corporate life cycle
cash flow pattern
bankruptcy
Opis:
Research background: Deteriorating economic conditions and a negative outlook increase the pressure on financial management and the need to show high financial performance. According to Positive Accounting Theory, the growing risk of bankruptcy is associated with the phenomenon of earnings management. Bankruptcy risk and the quality of reported profits, along with other aspects of financial performance, vary throughout the company's life cycle. Nevertheless, these factors or their interactions are investigated only to a very small extent. Purpose of the article: The aim of this study is to clarify the impact of corporate life cycle and bankruptcy on earnings management, in order to describe behaviour of companies at different stages of corporate life cycle. Methods: A hierarchical mixed model with a random time and industry effect was chosen as appropriate because it allows the investigation of multilevel data that is not independent. The sample covers the financial indicators of more than 33,000 Central European companies from 2015-2019. The non-sequential Dickinson model, company age, and three models of accrual earnings management were used as proxies for the company's life cycle and quality of reported profit. Findings & value added: Earnings management and bankruptcy risk have a U-shape, indicating that financially distressed firms reduce reported accounting profit at the Introduction, Decline and, to a lesser extent, at the Growth stage. Slovak and Czech companies manipulate profits to a similar extent, Hungarian companies increase accounting profit to a greatest extent than the surveyed countries by controlling bankruptcy - life cycle effect; however, the variability of accounting manipulations across industries has not been demonstrated. These findings imply that start-ups and declining businesses provide crooked financial statements to obtain more favourable debt covenants, and estimating discretionary accruals using life-cycle subsamples can improve the predictive power of accrual earnings management models.
Źródło:
Oeconomia Copernicana; 2021, 12, 2; 425-461
2083-1277
Pojawia się w:
Oeconomia Copernicana
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Stability of profits and earnings management in the transport sector of Visegrad countries
Autorzy:
Kliestik, Tomas
Novak Sedlackova, Alena
Bugaj, Martin
Novak, Andrej
Powiązania:
https://bibliotekanauki.pl/articles/19322541.pdf
Data publikacji:
2022
Wydawca:
Instytut Badań Gospodarczych
Tematy:
business profit
earnings management
stationarity
transport sector
Visegrad four
Opis:
Research background: Business profit and its stable development are key performance indicators. Many enterprises performed earnings manipulation, either upward or downward, according to the current business and macroeconomic situation, as well as time. These activities may interrupt the stationarity of time series. This article focuses on the transport enterprises, and the assessment of bonds in their earnings. Purpose of the article: The target of the article was to identify the occurrence of non-stationary and its unit root in the EBITDA of transport enterprises for each country in V4 during the period of 2010-2019. Methods: The stationarity and unit roots in time series were tested by the Kwiatkowski, Phillips, Schmidt, and Shin tests and the Augmented Dickey-Fuller based on the samples of 470 Slovak, 405 Czech, 774 Polish, and 1,056 Hungarian. The behavior of earnings manipulation (the first cause of non-stationarity) was indicated by the Modified Jones model. Additional causes for non-stationarity were confirmed by the regression analysis, including factors such as the GDP, unemployment rate, average monthly gross wage, and the Ease of doing business index. Findings & value added: The non-stationarity in the time series of EBITDA was disclosed for each country in the V4 region. Earnings management was discovered to be the cause of this erratic development. Thus, the value-added for the authorities and auditors is to show the association between non-stationary and creative accounting. In addition, purposeful downward manipulation in the transport sector occurs, not upward, which is typical in general. The methodology used in the study may be applied cross-sectorally in emerging countries. The labelling of specific macroeconomic variables depending on the country offers enterprises the opportunity to focus on factors with a crucial influence on their existence and activities.
Źródło:
Oeconomia Copernicana; 2022, 13, 2; 475-509
2083-1277
Pojawia się w:
Oeconomia Copernicana
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
“Kreowanie wyników” jako czynnik niedowartościowania ceny akcji spółek IPO na przykładzie GPW w Warszawie
“Earnings Management” as a Factor for Underpricing Initial Public Offerings: Evidence from the Warsaw Stock Exchange
Autorzy:
Cieślik, Rafał
Powiązania:
https://bibliotekanauki.pl/articles/525593.pdf
Data publikacji:
2016-11-30
Wydawca:
Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania
Tematy:
jakość zysku
kreowania wyniku finansowego manipulacje księgowe
różnice memoriałowe
IPO
niedowartościowanie akcji spółek IPO
earnings quality
earnings management
accounting manipulations
accruals
underpricing
Opis:
W artykule podjęto próbę oceny zależności pomiędzy „jakością zysku” a efektem niedowartościowania ceny emisyjnej akcji spółek IPO. Badaniem objęto dane zawarte w sprawozdaniach finansowych jednostek, które dokonały pierwszej oferty publicznej poprzez wejście na GPW w Warszawie w latach 2008–2011. W celu oceny jakości zysku wykorzystano podejście oparte na pomiarze intencjonalnych różnic memoriałowych. Wyniki przeprowadzonego badania są zgodne z teoretycznymi założeniami oraz z rezultatami innych opracowań i wykazały, iż w ramach polskiego rynku kapitałowego jakość informacji finansowej jest istotnym czynnikiem uzasadniającym efekt niedowartościowania akcji w procesie IPO.
The paper undertakes the assessment of the relationship between “earnings quality” and the underpricing effect in initial public offerings (IPO). The research encompasses data found in the financial statements of companies making their IPO on the Warsaw Stock Exchange over the years 2008–2011. The approach used to assess earnings quality was the measurement of abnormal accruals. The results of this research are consistent with other studies. They demonstrate that on the Polish capital market the “quality” of financial information is a significant factor behind the underpricing of shares in the IPO process.
Źródło:
Problemy Zarządzania; 2016, 4/2016 (63), t.1; 103 - 112
1644-9584
Pojawia się w:
Problemy Zarządzania
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
The credibility of earnings announced by new stock companies: accrual and real earnings management
Autorzy:
Sosnowski, Tomasz
Powiązania:
https://bibliotekanauki.pl/articles/22444316.pdf
Data publikacji:
2021
Wydawca:
Instytut Badań Gospodarczych
Tematy:
initial public offering
real earnings management
discretionary accruals
listing status
Opis:
Research background: An initial public offering (IPO) creates an excellent opportunity to research the impact of changes in the institutional environment of companies on the trustworthiness of the information disclosed in financial statements. Purpose of the article: The main aim of the study is to analyze the use of accrual and real earnings management to inflate earnings, revenue, or total assets around the going public event. Therefore, this paper contributes to the stream of study on the quality of financial reporting of new stock companies. Methods: Two main approaches reflect the use of various types of earnings management activities, i.e., discretionary accruals and real earnings management. In both cases, it was necessary to use proper OLS method estimated models to identify the normal level of categories that affect the results reported in financial statements. Findings & value added: Based on a sample of 183 IPOs from the Warsaw Stock Exchange between 2005 and 2015, generally, managers of newly-listed companies actively use discretionary accruals, reduce production costs and certain discretionary expenses, and abnormal cash flows from operations ? i.e., all proxies of earnings management used in the paper ? in the periods around the IPO. In the period prior to the IPO, managers more often introduce techniques typical of the real sphere of the company's operations, in particular, the deliberate modeling of certain discretionary costs. In turn, the use of discretionary accruals dominates in the year after the IPO.
Źródło:
Equilibrium. Quarterly Journal of Economics and Economic Policy; 2021, 16, 3; 661-677
1689-765X
2353-3293
Pojawia się w:
Equilibrium. Quarterly Journal of Economics and Economic Policy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Earnings management and the floatation structure: empirical evidence from Polish IPOs
Autorzy:
Sosnowski, Tomasz
Powiązania:
https://bibliotekanauki.pl/articles/22446621.pdf
Data publikacji:
2017
Wydawca:
Instytut Badań Gospodarczych
Tematy:
initial public offering
IPO
primary shares
secondary shares
earnings management
Opis:
Research background: Firms use discretionary accounting choices to manage earnings disclosures around the time of certain types of corporate events. The initial public offering particularly provides an opportunity to earnings management because of the significant information asymmetry between investors and issuers at the time of the offering. Purpose of the article: The main aim of the study is to empirically investigate the links between the earnings management and the portions of primary and secondary shares sold in IPO. Methods: In order to investigate whether the earnings management influences the issue of new shares and the sale of secondary shares I use Tobit and logit regressions, where discre-tionary accruals are the proxy for earnings management. Findings & Value added: Using a sample of 221 firms from Warsaw Stock Exchange between 2005 and 2015 I do not find evidence that the increase of pre-IPO discretionary accruals positively affects the sale of primary shares in the IPO, but the analysis has revealed that the deliberate conservative reporting limits the probability of the new shares issuance. In turn, the sale of secondary shares by the original shareholders in IPO is more likely in companies using a conservative earnings management. Furthermore, negative discretionary accruals increase the portion of secondary shares sold in the IPO.
Źródło:
Equilibrium. Quarterly Journal of Economics and Economic Policy; 2017, 12, 4; 693-709
1689-765X
2353-3293
Pojawia się w:
Equilibrium. Quarterly Journal of Economics and Economic Policy
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Advanced methods of earnings management: monotonic trends and change-points under spotlight in the Visegrad countries
Autorzy:
Kliestik, Tomas
Valaskova, Katarina
Nica, Elvira
Kovacova, Maria
Lazaroiu, George
Powiązania:
https://bibliotekanauki.pl/articles/19233520.pdf
Data publikacji:
2020
Wydawca:
Instytut Badań Gospodarczych
Tematy:
business finance
change-point
earnings management
monotonic trend
European countries
Opis:
Research background: Enterprises manage earnings in an effort to balance their profit fluctuations to provide increasingly consistent earnings in every reporting period. Earnings management is legal and very effective method of accounting techniques and may be used to obtain specific objectives of the enterprises involving the manipulation of accruals. Therefore, there is a need to analyze it in the context of group of countries, while the issue of their detection in the new ways appears.  Purpose of the article: The analysis of annual earnings before interest and taxes (EBIT) of 5,640 enterprises from the Visegrad Four during the period 2009-2018 confirms that the development of earnings management in these countries is not a randomness. Thus, the aim of this article is to determine the existence of positive trend in earnings management and to detect the change-point in its development for each Visegrad country. Methods: Grubbs test, Mann-Kendall trend test and Buishand test were used as appropriate statistical methods. Mann-Kendall test identifies significant monotonic trend occurrence in earnings manipulation in every country. Buishand test indicates significant years, which divides the development of EBIT into two homogenous groups with individual central lines. Findings & Value added: Based on the statistical analysis applied, we rejected randomness in the managing of earning, but we determined the trend of its increasing. The positive earnings manipulation was not homogenous in the analyzed period, however, a change-point was defined. Year 2014 was identified as a break-point for Slovak, Polish and Hungarian enterprises considering the earnings manipulation. Year 2013 was detected as a change-point in Czech enterprises. The methodical approach used may be very helpful for researchers from other countries to determine, detect and understand earnings management as well as for the investors to make decisions based on a specificities of an individual country.
Źródło:
Oeconomia Copernicana; 2020, 11, 2; 371-400
2083-1277
Pojawia się w:
Oeconomia Copernicana
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Is earnings management impacted by audit fees and auditor tenure? An analysis of the Big Four audit firms in the US market
Autorzy:
Santos-Jaén, José Manuel
Martín de Almagro-Vázquez, Gema
Valls Martínez, María del Carmen
Powiązania:
https://bibliotekanauki.pl/articles/19906103.pdf
Data publikacji:
2023
Wydawca:
Instytut Badań Gospodarczych
Tematy:
earnings management
auditor tenure
auditor rotation
audit fees
Big Four
Opis:
Research background: Audits are intended to ensure the reliability of financial statements, as this is fundamental for different stakeholders. However, both auditor tenure and audit fees could affect the earnings management of companies. In 2014, the European Union established a mandatory audit firm rotation policy. In the United States, although there is still no mandatory regulation in this regard, there has been a large public debate over the advisability of this policy. Another unresolved controversy is whether audit fees determine audit quality. Purpose of the article: The aim of this research is to study the effect of auditor tenure and audit fees on earnings management, i.e., to determine whether a longer-term relationship between the auditor and the audited company, as well as higher audit fees, reduce the audited company's earnings management, thereby making the financial statements more reliable for stakeholders and increasing the quality of the audit report. In addition, the Big Four auditing companies in the United States were analyzed in order to determine the influence of corporate culture. Methods: A sample of companies listed in the S&P 500 stock market index was employed for the analysis, covering the years 2012 to 2021, resulting in a dataset comprising 3,010 observations. To examine the research hypotheses while mitigating the potential bias from omitted variables, a linear regression analysis was conducted using panel data with fixed effects regression. To enhance the robustness of the results, winsorized variables were also employed. Findings & value added: Overall, the results confirm that the quality of financial statements improves as auditor tenure increases, and so implementing a mandatory auditor rotation may not be in a company’s best interests. The results also support the market segmentation theory, as higher audit fees are aligned with higher quality financial reporting. Furthermore, by analyzing the Big Four audit companies in the US, it is shown that the influence of audit fees and auditor tenure on earnings management also depends on the internal aspects of the particular audit firm, especially its ethical culture. In sum, US policymakers should neither set limits on audit fees nor enforce a mandatory audit firm rotation similar to that of the EU.
Źródło:
Oeconomia Copernicana; 2023, 14, 3; 899-934
2083-1277
Pojawia się w:
Oeconomia Copernicana
Dostawca treści:
Biblioteka Nauki
Artykuł
Tytuł:
Disclosure of information on increasing and decreasing the balance of reserves in financial statements by companies listed on the Warsaw Stock Exchange
Ujawnianie informacji o zwiększaniu i zmniejszaniu stanu rezerw w sprawozdaniach finansowych przez spółki notowane na Giełdzie Papierów Wartościowych w Warszawie
Autorzy:
Staszel, Anna
Powiązania:
https://bibliotekanauki.pl/articles/1367643.pdf
Data publikacji:
2021-03-31
Wydawca:
Małopolska Wyższa Szkoła Ekonomiczna w Tarnowie
Tematy:
reserves
disclosure of information
financial reporting
financial
result
earnings management
Opis:
The purpose of this paper is to verify whether companies listed on the Warsaw Stock Exchange disclose less information about reserves in their financial statements in case of a reduction in reserves than in case of an increase in reserves. It has been hypothesized that in the case of a reduction in reserves balance, disclosures are less detailed than in the case of an increase in them. This hypothesis was verified through an analysis of information reported in the financial statements of 148 companies listed on the Warsaw Stock Exchange for the years 2007–2014: in total, the analyzed data comes from 1184 financial statements. Within the research, a three-step index of disclosures detail of the two leading reserve categories is constructed and followed with a comparison of the values of disclosure indexes and the fact that reserves were reduced and increased. The research methodology included literature studies and empirical studies using the author’s index of disclosure detail and statistical testing. The conducted research extends the cognitive legacy of mainstream research into the quality of financial statements disclosures and in the principal-agent problem.
Celem artykułu jest zweryfikowanie, czy spółki notowane na GPW w Warszawie w przypadku zmniejszania stanu rezerw ujawniają mniej informacji o rezerwach w swoich sprawozdaniach finansowych niż w przypadku zwiększania stanu rezerw. Sformułowano hipotezę, że w przypadku zmniejszeń stanu rezerw szczegółowość ujawnień jest niższa niż w przypadku zwiększania stanu rezerw. Hipoteza została zweryfikowana za pomocą analizy danych zawartych w sprawozdaniach finansowych 148 spółek notowanych na GPW w Warszawie za lata 2007–2014: łącznie przeanalizowano dane zawarte w 1184 sprawozdaniach finansowych. W ramach prowadzonych badań skonstruowano trójstopniowy wskaźnik szczegółowości ujawnień dwóch wiodących kategorii rezerw, a następnie porównano wartości wskaźników ujawnień z faktem zmniejszania i zwiększania rezerw. Metodologia badań obejmowała studia literaturowe oraz badania empiryczne z wykorzystaniem autorskiego wskaźnika szczegółowości ujawnień i testowania statystycznego. Przeprowadzone badania poszerzają dorobek poznawczy nurtu badań nad jakością ujawnień w sprawozdaniach finansowych oraz teorii agencji.
Źródło:
Zeszyty Naukowe Małopolskiej Wyższej Szkoły Ekonomicznej w Tarnowie; 2021, 49, 1; 99-112
1506-2635
Pojawia się w:
Zeszyty Naukowe Małopolskiej Wyższej Szkoły Ekonomicznej w Tarnowie
Dostawca treści:
Biblioteka Nauki
Artykuł
Wyświetlanie 31-45 z 112

Ta witryna wykorzystuje pliki cookies do przechowywania informacji na Twoim komputerze. Pliki cookies stosujemy w celu świadczenia usług na najwyższym poziomie, w tym w sposób dostosowany do indywidualnych potrzeb. Korzystanie z witryny bez zmiany ustawień dotyczących cookies oznacza, że będą one zamieszczane w Twoim komputerze. W każdym momencie możesz dokonać zmiany ustawień dotyczących cookies