Wszystkie pola: earnings - Katalog OPAC zbiorów

Skocz do pozycji: 1.

Tytuł:: DIVIDENDS AND EARNINGS QUALITY IN POLAND
Autorzy:: Kowerski, Mieczysław
Powiązania:: https://bibliotekanauki.pl/articles/599368.pdf
Data publikacji:: 2013
Wydawca:: Wyższa Szkoła Informatyki i Zarządzania z siedzibą w Rzeszowie
Tematy:: Quality of earnings,
earnings persistence,
dividend policy,
Warsaw Stock Exchange, Performance Measurement
Opis:: The purpose of this article is to show on the example of Warsaw Stock Exchange, Poland (WSE) how in emerging capital markets dividends provide information about earnings quality as measured by their persistence. In the paper the regressions models of future earnings (in years t + 1 and t + 2) were applied on current earnings (in year t), current dividends decision (in year t) and the interaction of current dividend decision and earnings proposed by D. J. Skinner and E. Soltes (2011), using pooled cross – sectional time – series data. A set of 2263 observations coming from the companies listed on the WSE in 1995-2009 was used for the calculation. For estimating the parameters, recursive modeling was used. Specific models were estimated using the heteroskedasticity-corrected general least squares method. It was shown that on the WSE the quality of earnings depends more distinctly on a firm’s dividend policy than on the developed markets.
Źródło:: Finansowy Kwartalnik Internetowy e-Finanse; 2013, 9, 4; 42-51
1734-039X
Pojawia się w:: Finansowy Kwartalnik Internetowy e-Finanse
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 2.

Tytuł:: DIVIDENDS AND EARNINGS QUALITY IN POLAND
Autorzy:: Kowerski, Mieczysław
Powiązania:: https://bibliotekanauki.pl/articles/599495.pdf
Data publikacji:: 2013
Wydawca:: Wyższa Szkoła Informatyki i Zarządzania z siedzibą w Rzeszowie
Tematy:: Quality of earnings
earnings persistence
dividend policy
Warsaw Stock Exchange
Performance Measurement
Opis:: The purpose of this article is to show on the example of Warsaw Stock Exchange, Poland (WSE) how in emerging capital markets dividends provide information about earnings quality as measured by their persistence. In the paper the regressions models of future earnings (in years t + 1 and t + 2) were applied on current earnings (in year t), current dividends decision (in year t) and the interaction of current dividend decision and earnings proposed by D. J. Skinner and E. Soltes (2011), using pooled cross – sectional time – series data. A set of 2263 observations coming from the companies listed on the WSE in 1995-2009 was used for the calculation. For estimating the parameters, recursive modeling was used. Specific models were estimated using the heteroskedasticity-corrected general least squares method. It was shown that on the WSE the quality of earnings depends more distinctly on a firm’s dividend policy than on the developed markets.
Źródło:: Finansowy Kwartalnik Internetowy e-Finanse; 2013, 9, 3; 42-51
1734-039X
Pojawia się w:: Finansowy Kwartalnik Internetowy e-Finanse
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 3.

Tytuł:: Persistence of pre-IPO earnings of new companies from CEE stock markets
Autorzy:: Sosnowski, Tomasz
Powiązania:: https://bibliotekanauki.pl/articles/22443159.pdf
Data publikacji:: 2022
Wydawca:: Instytut Badań Gospodarczych
Tematy:: earnings quality
financial reporting
earnings management
initial public offering
profitability
Opis:: Research background: A company?s earnings are one of the main determinants of investment decisions on the stock market. Thus, the reliability of disclosed financial information is crucial for the efficient allocation of capital. Unfortunately, reported earnings are an economic category susceptible to manipulation. This problem grows especially in the case of an initial public offering (IPO), as there is significant information asymmetry. Purpose of the article: The main aim of the paper is to assess the persistence of earnings reported by companies in the IPO process and to empirically identify financial characteristics associated with persistence of earnings. The usefulness of financial information is directly related to the issue of earnings quality. Therefore, this paper contributes to the stream of study on the quality of financial reporting of new stock companies. Methods: I employ a simple single-factor regression model to recognize the earnings persistence in new stock companies. Pre-IPO earnings are the explanatory variable. Then, I use multiple regression analysis to identify factors that influence this metric of reported earnings quality. Findings & value added: Using a sample of companies from stock exchange markets in Central and Eastern Europe (i.e., the Warsaw Stock Exchange, the Bulgarian Stock Exchange, the Bucharest Stock Exchange, the Belgrade Stock Exchange, the Prague Stock Exchange) that went public between 2010 and 2018, I find that, generally, pre-IPO earnings hold higher persistence compared to earnings reported in the year of the IPO. Profitability seems to be a factor that significantly influences this feature. Thus, the results contribute to corporate theory and practice facing insufficient empirical evidence on the issue of sustaining pre-IPO profitability in the long term, additionally putting these concerns in the context of the economic environment of European emerging stock markets.
Źródło:: Equilibrium. Quarterly Journal of Economics and Economic Policy; 2022, 17, 2; 415-434
1689-765X
2353-3293
Pojawia się w:: Equilibrium. Quarterly Journal of Economics and Economic Policy
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 4.

Tytuł:: The impact of the IFRS 15 implementation on the revenue based earnings management in Poland
Autorzy:: Morawska, Izabela
Powiązania:: https://bibliotekanauki.pl/articles/2027275.pdf
Data publikacji:: 2021
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: Earnings benchmarks
Earnings management
IFRS 15
Revenue recognition
Opis:: Aim/purpose - This paper aims at investigating whether the International Financial Reporting Standard (IFRS) 15 Revenue from Contracts with Customers implementation in Poland has affected earnings management that uses discretion in revenue recognition to avoid losses and earnings decreases. Design/methodology/approach - The empirical studies were conducted using a sample of 80 entities from four industries listed on the Warsaw Stock Exchange (WSE) in Poland from 2016 to 2019. Caylor's (2010) revenue-based model was applied, and an econometric model describing the studied relation was built and verified to this end. Findings - The analyzed entities managed earnings using discretion in accrued revenue recognition to avoid reporting losses. The research results did not confirm that the IFRS 15 adoption in Poland influenced revenue-based earnings management aimed at avoiding losses and earnings decreases. Research implications/limitations - This study warns of the role played by discretion in revenue recognition and recommends careful recognition of revenue under IFRS 15. Limitations of this study are generally related to the models' specification and a relatively small number of the entities studied. Originality/value/contribution - This study contributes to the literature on revenue-based earnings management and is one of the first studies on the association between IFRS 15 adoption and revenue-based earnings management in Poland. Thus, this study bridges the research gap in Poland.
Źródło:: Journal of Economics and Management; 2021, 43; 387-403
1732-1948
Pojawia się w:: Journal of Economics and Management
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 5.

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

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Skocz do pozycji: 6.

Tytuł:: Rozkład płac i kapitału ludzkiego w Polsce
Earnings and Human Capital Distribution in Poland
Autorzy:: Roszkowska, Sylwia
Rogut, Aleksandra
Powiązania:: https://bibliotekanauki.pl/articles/574554.pdf
Data publikacji:: 2007-12-31
Wydawca:: Szkoła Główna Handlowa w Warszawie. Kolegium Analiz Ekonomicznych
Tematy:: earnings distribution
human capital
linear/nonlinear relationship
Mincer earnings equation
Opis:: The paper analyzes the relationship between the skills and earnings of Polish employees. The starting point for the discussion is an earnings equation proposed by Mincer (J. Mincer, Schooling, Experience and Earnings, 1974) as well as its modified form that takes into account a nonlinear relationship between the level of education and wages. The analysis is designed to examine income disparities in Poland, in particular to show the differences among individual professional groups. The authors evaluate the influence of the level of education and professional experience of individuals on income disparities. Finally, they show differences in pay between men and women. Econometric analyses carried out by the authors confirm that education and professional experience have a statistically significant influence on employees’ pay. The general rule is that employees with a higher education earn more. Moreover, differences in earnings in individual professional groups grow with the level of education. Another significant factor is an employee’s professional experience. People with more than 20 years of work experience earn 5-8 percent above the average, while the earnings of individuals who have less than a year of work experience are around 30 percent below the average. Statistical analyses made in the study point to a linear relationship between the level of education and pay and a nonlinear relationship between professional experience and earnings. The analyses also confirm the existence of major differences in pay between men and women. Women’s earnings were lower in both analyzed periods. Moreover, the influence of individual factors on the level of wages is different for men and women.
Źródło:: Gospodarka Narodowa. The Polish Journal of Economics; 2007, 220, 11-12; 55-84
2300-5238
Pojawia się w:: Gospodarka Narodowa. The Polish Journal of Economics
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 7.

Tytuł:: Applying Benford’s law to detect earnings management
Autorzy:: Sylwestrzak, Marek
Powiązania:: https://bibliotekanauki.pl/articles/14188721.pdf
Data publikacji:: 2023
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: earnings management
digital analysis
Polish companies
Opis:: Aim/purpose - This paper analyzes the role of Benford's law in the detection of earnings management in Poland. Previous research that uses Benford's law does not split the sample into a fraud and a control group; however, this method is used in logistic regression and data mining analysis. Design/methodology/approach - The sample comprises 126 observations of Polish non-financial companies listed on the Warsaw Stock Exchange for the years 2010-2021. The author uses first, second, and first-two digits analysis as a proxy for earnings management detection. Findings - The results indicate that fraudulent companies have different deviations in the digits than control firms. Accordingly, the statistical test results indicate that control companies have weaker conformity with the Benford distribution than fraudulent companies. Research implications/limitations - The study sample is limited to 126 observations, which is due to the small number of listed firms that received a monetary fine from the Polish Financial Supervision Authority (UKNF Board) for violation of IAS/IFRS principles related to their financial statements during the study period. Originality/value/contribution - The author offers a significant contribution to the accounting literature by proposing the separation of fraudulent and control observations in Benford analysis due to differences in the deviations of digits. Also, analyzing the full sample may lead to the identification of inappropriate areas for further auditor analysis.
Źródło:: Journal of Economics and Management; 2023, 45; 216-236
1732-1948
Pojawia się w:: Journal of Economics and Management
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 8.

Tytuł:: Earnings Management: Obvious Phenomenon in Albanian Market
Autorzy:: Llukani, Teuta
Karapici, Vjollca
Powiązania:: https://bibliotekanauki.pl/articles/1036133.pdf
Data publikacji:: 2013
Wydawca:: Academicus. International Scientific Journal publishing house
Tematy:: Earnings management
Abnormal accruals
Albanian market
Opis:: Fiscal earnings, measures the performance of the company during the financial year. Motivated by different factors such as those related to the capital market, contractual motives etc, managers can manipulate earnings, increasing or reducing them and this phenomenon is recognized as “earnings management”. If we accept that the initiatives of “earnings management” lead to distortion of the financial results, it means that financial reports can be considered as poor quality reports, and financial information provided to the users and various parties of interest is also of poor quality. This paper is focused on reviewing the existing literature with regard to the Earnings Management in response to the growing pressure of investors, policy makers, and companies’ governance reform mechanisms to curb opportunistic behavior of the managers of these companies. It also examines the existence of this phenomenon in Albanian context as well as tests the importance of Modified Jones Model as an efficient tool for detection of abnormal accruals, used as a proxy for earnings management. The results show that firms in the Albanian market are engaged in earnings management initiatives.
Źródło:: Academicus International Scientific Journal; 2013, 08; 78-88
2079-3715
2309-1088
Pojawia się w:: Academicus International Scientific Journal
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 9.

Tytuł:: Wynagrodzenia małżonków i kohabitantów
Earnings of Spouses and Cohabitating Partners
Autorzy:: Stolarska, Barbara
Powiązania:: https://bibliotekanauki.pl/articles/20311586.pdf
Data publikacji:: 2013
Wydawca:: Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
Tematy:: marriage
cohabitation
earnings
marriage premium
comparison
Opis:: It is often believed that marriage and cohabitation do not lie in the area of interest of economics. However, a trial of economic analysis of romantic relationships is possible and leads to interesting conclusions. Researchers from Western Europe, such as Cohen (2003), Richardson (2000), and Stratton (2002), suggest that not only the choice of romantic partner but also the form of our relationship is crucial. The issue of a relationship’s legalisation has a big impact on the quality and persistence of union as well as on the level of earnings of the couple. Husbands get a, so called, ‘marriage premium’ – they earn more than informal partners. In Polish literature the topic of marriage and cohabitation is analysed very rarely. The aim of the thesis is to discuss differences between the earnings of spouses and cohabitating partners and to present the results of research conducted, which suggest that marriage is related to a higher level of earnings. As the analyses presented show, cohabitation has become a serious issue for present society. We should decide whether the growing popularity of informal relationships should be stopped. It seems that cohabitation is ethically doubtful due to its negative impact on couples as well as on the whole of society
Źródło:: Annales. Etyka w Życiu Gospodarczym; 2013, 16; 271-280
1899-2226
2353-4869
Pojawia się w:: Annales. Etyka w Życiu Gospodarczym
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 10.

Tytuł:: Is there a growing social acceptance of earnings inequalities in Poland?
Autorzy:: Kumor, Paweł
Powiązania:: https://bibliotekanauki.pl/articles/653295.pdf
Data publikacji:: 2018
Wydawca:: Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego
Tematy:: social acceptance
earnings
inequalities
econometric model
Polska
Opis:: In our studies, we deal with the estimating of the optimal ranges of earnings – the optimal Gini indexes which are favourable to the maximisation of GDP growth in Poland. We suspect that the optimal Gini coefficients expressing the whole of society’s acceptance of earnings inequalities can increase. In the article, we formulated a hypothesis on society’s habituation to increasing earnings disparities. We verified the hypothesis on the basis of the model of economic growth using data from 1970 to 2007. We carried out econometric studies in two stages. In the first stage, we estimated the optimal Gini coefficients for short subsequent sub-periods. In the second stage, we studied the character of changes in the optimal Gini coefficients. In the studies, we proved the hypothesis on society’s habituation to increasing earnings disparities. The optimal Gini coefficients increase along with the increase of differences in earnings and the increase of the economic level per capita. The growth of the optimal Gini coefficients may be slowed down.
Źródło:: Annales. Etyka w Życiu Gospodarczym; 2018, 21, 8; 79-88
1899-2226
2353-4869
Pojawia się w:: Annales. Etyka w Życiu Gospodarczym
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 11.

Tytuł:: Earnings management in the private equity divestment process on Warsaw Stock Exchange
Autorzy:: Sosnowski, Tomasz
Powiązania:: https://bibliotekanauki.pl/articles/22446529.pdf
Data publikacji:: 2018
Wydawca:: Instytut Badań Gospodarczych
Tematy:: initial public offering
private equity
earnings management
Opis:: Research background: Prior studies suggest that companies which go public manage earnings in order to inflate the issue price. However, for private equity funds the use of such activity can be costly in terms of the reputation capital as they are repetitive stock market players. The results of previous research on the effect of private equity fund on the quality of pre-IPO reported earnings are mixed and inconclusive. Purpose of the article: The main aim of the study is to empirically investigate the use of pre-IPO earnings management by private equity funds in the process of divestment conducted on a stock exchange. Methods: I provide comparisons between PE-backed companies and firms with a similar initial market value and growth potential, using the method of single-linkage clustering to build the study sample. In order to assess the scale of pre-IPO earnings management, I apply the discretionary accruals model of Larcker and Richardson [2004]. Findings & Value added: Using a sample of companies conducting IPO on WSE between 2005 and 2015 I do not find evidence that the presence of private equity fund among the shareholders of the company in the period preceding first listing of shares on a stock market constrains the use of earnings management prior to the IPO. The difference between the discretionary accruals in PE-backed and matched companies, when controlling for the market value and book-to-market ratio, is statistically insignificant. To be specific, companies with private equity funds in their shareholder structure do not exhibit lower scale of earnings management prior to the IPO in comparison to other new stock companies.
Źródło:: Equilibrium. Quarterly Journal of Economics and Economic Policy; 2018, 13, 4; 689-705
1689-765X
2353-3293
Pojawia się w:: Equilibrium. Quarterly Journal of Economics and Economic Policy
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 12.

Tytuł:: Levels of reported financial result and the scope of accrual-based earnings management. An exemplification studies on the example of public companies of the clothing industry
Autorzy:: Comporek, Michał
Powiązania:: https://bibliotekanauki.pl/articles/19233702.pdf
Data publikacji:: 2023-03-31
Wydawca:: Wyższa Szkoła Finansów i Prawa w Bielsku-Białej
Tematy:: textile industry
earnings quality
earnings management
discretionary accruals
profitability
Opis:: The reported values of the financial result at various levels of the company's operations are an important source of information for various stakeholder groups of textile companies. However, due to its accrual character, financial result is a category highly susceptible to intentional increasing (lowering), in line with the diversified premises of the management staff. The objective of the paper is to investigate the relationship between the profitability of textile companies listed on the Warsaw Stock Exchange and the directions and scale of accounting-type earnings management. The obtained results of empirical research indicate that in the sample data of hand, there are statistically significant relationships between discretionary accruals and gross margin and return of assets coefficients. This remark may be important, among others, for stock exchange investors who have been attracting the attention of the WSE-clothes sector index for years due to the above-average rate of return.
Źródło:: Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej; 2023, 27, 1; 22-27
2543-9103
2543-411X
Pojawia się w:: Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 13.

Tytuł:: Manipulowanie zyskami przez spółki debiutujące na GPW
IPO firms’ earnings manipulation on the Warsaw Stock Exchange
Autorzy:: Lizińska, Joanna
Czapiewski, Leszek
Powiązania:: https://bibliotekanauki.pl/articles/692986.pdf
Data publikacji:: 2016
Wydawca:: Uniwersytet im. Adama Mickiewicza w Poznaniu
Tematy:: equity offerings
IPO
capital market
earnings manipulation
earnings management
emisje akcji
rynek kapitałowy
manipulowanie zyskami
zarządzanie zyskami
Opis:: The research sample covers non-financial initial public offerings (IPOs) on the Warsaw Stock Exchange (WSE, GPW) in the period 1998-2013. The study aims to answer the question whether Polish IPO firms managed their earnings in the issuance period. Differentiated estimation models were applied and several approaches were engaged to detect accrual-based earnings management. The empirical research covered four groups of research problems: zero-profit threshold, last-year threshold, discretionary accruals and profitability consequencesfor the consecutive years. High, positive and statistically significant discretionary accruals were reported in the IPO year or before going public, along with an inclination to report a positive and higher profitability. In consequence, the deterioration in profitability was observed in the following years.
Badania prowadzone były dla spółek z sektora pozafinansowego dokonujących pierwszych ofert publicznych (initial public offering, IPO), na rynku głównym Giełdy Papierów Wartościowych w Warszawie w latach 1998-2013. Celem była odpowiedź na pytanie, czy dla spółek dokonujących pierwotnych emisji akcji w Polsce zaobserwować można zjawisko zarządzania zyskami w okresach okołoemisyjnych. Badania empiryczne dotyczyły zjawiska kształtowania wyniku typu materiałowego i przeprowadzono je, wykorzystując różnorodne podejścia i kilku modeli estymacji przesunięć międzyokresowych. Podjęto cztery grupy problemów badawczych – badano skłonność do przekraczania zysku zerowego, skłonność do przekraczania rentowności roku poprzedniego, manipulowanie zyskami poprzez dokonywanie nietypowych przesunięć międzyokresowych oraz konsekwencje manipulowania zyskami dla kolejnych okresów sprawozdawczych. W roku debiutu giełdowego zaobserwowano relatywne zwiększenie poziomu nietypowych przesunięć międzyokresowych (discretionary accruals), czemu towarzyszyło nasilenie skłonności do wykazywania zysku przynajmniej na poziomie roku poprzedniego i skłonności do raportowania dodatniego wyniku finansowego. Konsekwencją nietypowych korekt w roku IPO było osłabienie rentowności w okresie bezpośrednio po debiucie.
Źródło:: Ruch Prawniczy, Ekonomiczny i Socjologiczny; 2016, 78, 4; 197-212
0035-9629
2543-9170
Pojawia się w:: Ruch Prawniczy, Ekonomiczny i Socjologiczny
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 14.

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

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Skocz do pozycji: 15.

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

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Skocz do pozycji: 16.

Tytuł:: Detecting earnings manipulation and fraudulent financial reporting in Slovakia
Autorzy:: Svabova, Lucia
Kramarova, Katarina
Chutka, Jan
Strakova, Lenka
Powiązania:: https://bibliotekanauki.pl/articles/19233539.pdf
Data publikacji:: 2020
Wydawca:: Instytut Badań Gospodarczych
Tematy:: Beneish model
discriminant analysis
earnings manipulation
fraudulent financial reporting
Opis:: Research background: Misleading financial reporting has a negative impact on all stakeholders since financial records are the primary source of information on financial stability, economic activity, and financial health of any company. The handling of them is primarily the responsibility of managers or owners and reasons for doing so may differ. Their common denominator is the artificial creation of information asymmetry to get different types of benefits. It is, therefore, logical that the issue of detecting opportunistic earnings management comes to the fore. Purpose of the article: The purpose of the study is to create a discriminant model of the detection of earnings manipulators in the conditions of the Slovak economy. Methods: We used the discriminant analysis to create a model to identify fraudulent companies, based on the real data on companies that were convicted from misleading financial reporting in connection with tax fraud in the years 2009-2018. The model is inspired by the Beneish model, which is one of the most applied fraud detection methods at all. Findings & Value added: In order to achieve more accurate detection results, we extended the original model by taking into account the values of indicators from three consecutive years, i.e. by taking into account the development of the potential tendency of companies to be involved in opportunistic earnings management. Our model correctly identified 86.4% of fraudulent companies and overall reaches 84.1% classification ability. Both models were applied on empirical data on 1,900 Slovak companies from the years 2016-2018, while their overlap was 32.7% for fraudulent companies and 38.4% for non-fraud companies. This is a very useful result, as the application of both models rein-forces the results obtained and the identical classification of the company into fraudulent indicates that the manipulation of earnings occurs with a high probability.
Źródło:: Oeconomia Copernicana; 2020, 11, 3; 485-508
2083-1277
Pojawia się w:: Oeconomia Copernicana
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 17.

Tytuł:: The relationship between reserves and accruals – with reference to the issue of earnings management in public companies
Autorzy:: Comporek, Michał
Powiązania:: https://bibliotekanauki.pl/articles/947785.pdf
Data publikacji:: 2018
Wydawca:: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:: reserves
provisions
earnings management
accruals
net income
Opis:: The main objective of the study is to examine the relationship between the implemented reserves policy and the value of accruals reported in the financial statements of public companies listed on the Warsaw Stock Exchange. Both research fields are considered as the main areas of earnings management, which can be seen both as the pursuance of a true and fair view of the economic situation of a business entity and as the intentional manipulation of the results of an economic activity in order to mislead selected stakeholders of company. Empirical studies were conducted among public companies included in the WIG20, mWIG40 and sWIG80 stock indices, whose shares have been traded on the stock market for at least 10 years in the assumed horizon of 1997-2016.
Źródło:: Financial Sciences. Nauki o Finansach; 2018, 23, 3; 17-33
2080-5993
2449-9811
Pojawia się w:: Financial Sciences. Nauki o Finansach
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 18.

Tytuł:: Sprawiedliwe nierówności zarobków
The Fair Inequalities of Earnings
Autorzy:: Domański, Henryk
Sawiński, Zbigniew
Powiązania:: https://bibliotekanauki.pl/articles/952672.pdf
Data publikacji:: 2012
Wydawca:: Polska Akademia Nauk. Czytelnia Czasopism PAN
Tematy:: inequalities
social justice
earnings
systemic transformation in Poland
nierówności
sprawiedliwość społeczna
zarobki
transformacja ustrojowa
Opis:: The results of the surveys on the perceptions of income inequalities in Poland, which were conducted in 1988-1994, when the old political regime collapsed and the systemic transformation started, have been compared with the most current survey conducted in 2010. It has been demonstrated that despite the collapse of communism and the transition to market economy, there were no major changes in either how people perceive actual earnings in different occupations or what earnings they regard as fair. Both in 1988 and 2010 the respondents believed that incomes of politicians and big businessmen were the highest, while the wages of white collar workers’ at the lower positions and manual workers’ were the lowest. Moreover, the earnings seen as fair did not depart significantly from the earnings perceived as actual. This finding confirms a belief that the sense of what is fair for people is conditioned by what is seen as actual. Another conclusion is that over the two decades the acceptance for large differences in earnings considerably increased. The degree of „acceptable” inequality, as measured by the Gini index increased from 0.217 to 0.316. The systemic transformation did not substantially modify the map of social categories that were for or against differences in earnings. As two decades before, a relatively strong support for income inequalities is present in all segments of social structure. It therefore does not seem likely that wage demands could turn into a social conflict.
Przedstawiamy wyniki badań nad postrzeganiem nierówności zarobków, realizowanych w Polsce w latach 1988–2010. Dowodzą one, że mimo upadku komunizmu i kształtowania się stosunków rynkowych, w okresie tym nie zmieniły się ani opinie o wysokości zarobków w różnych zawodach, ani też na temat zarobków uznawanych za sprawiedliwe. W 1988 i 2010 roku dominowało przekonanie, że najwięcej zarabiają przedstawiciele wielkiego biznesu i politycy, a najmniej robotnicy i pracownicy umysłowi na najniższych stanowiskach. Prawie identycznie kształtowała się hierarchia zawodów według zarobków uznawanych za sprawie- dliwe. Wynik ten jest potwierdzeniem tezy, że poczucie tego, co sprawiedliwe, warunkowane jest przez to, co postrzegane jest jako faktyczne. Równocześnie w latach 1988–2010 dokonał się wyraźny wzrost akceptacji dla rozpiętości zarobków. W zbiorowości mieszkańców Polski stopień „postulowanych” nierówności, mierzonych indeksem Giniego, zwiększył się z 0,217 do 0,316. Transformacja nie zmieniła zasadniczo mapy kategorii społecznych, które są bardziej za nierównościami lub przeciw. W sumie jednak, stosunkowo silne poparcie dla nierówności zarobków występuje we wszystkich segmentach struktury społecznej – wydaje się więc mało prawdopodobne, aby roszczenia płacowe prowadziły do napięć społecznych.
Źródło:: Studia Socjologiczne; 2012, 3(206); 7-27
0039-3371
Pojawia się w:: Studia Socjologiczne
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 19.

Tytuł:: Perturbed moments of earnings per share in a random environment
Autorzy:: Buhrii, Nataliya
Powiązania:: https://bibliotekanauki.pl/articles/1179775.pdf
Data publikacji:: 2017
Wydawca:: Przedsiębiorstwo Wydawnictw Naukowych Darwin / Scientific Publishing House DARWIN
Tematy:: convergence rate
earnings per share
perturbation of an environment
risk
third and fourth moments
Opis:: The perturbation of a random environment is considered. There is proved that as the perturbed third and the perturbed fourth moments differ from the third and the fourth moments respectively very little. The convergence rate of the perturbed third and the perturbed fourth moments to the unperturbed ones is investigated.
Źródło:: World Scientific News; 2017, 72; 488-497
2392-2192
Pojawia się w:: World Scientific News
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 20.

Tytuł:: THE IMPACT OF QUARTERLY EARNINGS ANNOUNCEMENTS ON STOCK PRICES
Wpływ ujawnienia wyników kwartalnych na notowania spółek giełdowych
Autorzy:: Jagliński, Patryk
Powiązania:: https://bibliotekanauki.pl/articles/947515.pdf
Data publikacji:: 2020
Wydawca:: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:: market efficiency
quarterly earnings announcement
post-earnings-announcement-drift
PEAD
Warsaw Stock Exchange
WSE
efektywność rynku
wyniki kwartalne
dryf poogłoszeniowy
Giełda Papierów Wartościowych w Warszawie
GPW
Opis:: Anomalia dryfu poogłoszeniowego (post-earnings-announcement-drift – PEAD) jest jedną z najdłużej występujących anomalii rynkowych, która swoim istnieniem zaprzecza występowaniu efektywności rynku w formie półsilnej. Celem pracy było sprawdzenie, czy anomalia występuje na GPW w Warszawie oraz zbadanie wpływu ujawnienia wyników kwartalnych spółek na ceny ich akcji. Autor przeprowadził badania, które objęły okres 2017-2019, z wykorzystaniem metodyki analizy zdarzeń. W przeciwieństwie do większości badaczy autor nie znalazł dowodów na występowanie anomalii w grupie spółek, które zaraportowały wyniki powyżej oczekiwań rynku. Występowanie anomalii zostało zaobserwowane jedynie w grupie spółek, które osiągnęły wyniki poniżej oczekiwań. Zdaniem autora taki stan rzeczy może wynikać z ograniczonej dostępności krótkiej sprzedaży, co uniemożliwia uczestnikom rynku zastosowanie strategii inwestycyjnej, która wykorzystywałaby istnienie anomalii, co doprowadziłoby zarazem do jej wyeliminowania.
Źródło:: Financial Sciences. Nauki o Finansach; 2020, 25, 2-3; 24-40
2080-5993
2449-9811
Pojawia się w:: Financial Sciences. Nauki o Finansach
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 21.

Tytuł:: The use of operational cash flow in the estimation of accrual-based earnings management
Autorzy:: Comporek, Michał
Powiązania:: https://bibliotekanauki.pl/articles/947634.pdf
Data publikacji:: 2019
Wydawca:: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Tematy:: accrual-based earnings management
operational cash flow
net income
regression models
Opis:: One of the most important analytical spheres enabling the diagnostic estimation of intentional changes in a company’s financial result is the area of accrual adjustments of net profit, separated in the cash flow statement prepared using the indirect method. The special cognitive value of accrual differences can be seen when the structure of total accruals is separated by those adjustments that are not directly related to the real activity of the enterprise, and are the result of subjective accounting choices. The main objective of the article is to present the selected econometric models used for examining accrual-based earnings management phenomenon in Poland. The analysis includes following regression models, namely: the Jones model, the Kasznik model, the Dechow-Dichev model and the McNichols model. The empirical studies were conducted among listed companies qualified for the Warsaw Stock Exchange indices: WIG-20 and mWIG-40, whose shares were traded for at least ten years in 1998-2017.
Źródło:: Financial Sciences. Nauki o Finansach; 2019, 24, 2; 46-60
2080-5993
2449-9811
Pojawia się w:: Financial Sciences. Nauki o Finansach
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 22.

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

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Skocz do pozycji: 23.

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

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Skocz do pozycji: 24.

Tytuł:: Detecting Earnings Management Practices in European Insurance Sector: Purpose and Application of Accrual Modelling and Distribution of Earnings
Виявлення практики управління доходами в європейському страховому секторі: мета та застосування моделювання нарахування та розподілу доходів
Autorzy:: de Nichilo, Stefano
Powiązania:: https://bibliotekanauki.pl/articles/21277366.pdf
Data publikacji:: 2022-09-02
Wydawca:: Dnieprowski Uniwersytet Narodowy im. Ołesia Honczara
Tematy:: Accrual Modelling
Distribution of Earnings
Earnings Management Practices
Fair Value Relevance
Insurance and Reinsurance Industry
моделювання нарахування
розподіл прибутку
практика управління прибутком
відповідність справедливій вартості
страхування та перестрахування
Opis:: Purpose: The purpose of the present paper was to gauge the extent of the impact on earnings management derived from the adoption of International Financial Reporting Standards (IFRS) 17 as well as detecting whether the impact will be similar in different European “Insurance” and “Reinsurance” industries. Design/Method/Approach: To provide empirical evidence that earnings management is more frequent in some countries and less frequent in others by means of a statistical analysis, a sample of European listed “Insurance” and “Reinsurance” companies in the period of 2018-2020 was observed. The Jones Model was applied. Findings: This study concerns the implementation of a new principle, written to discipline the accountancy of insurances contracts, and its consequences must be carefully analyzed and monitored by regulators, as well as correctly adopted by managers, as the determined revenues could have an impact on the pre-existing earning management practices. Theoretical Implications: The paper of the present research also concerns the predictions about the behavior of managers that can be foreseen considering the agency theory; therefore, knowing ex-ante in which industries earnings management has a high impact, provides the option to foresee the hypothetical moves of the managers in the implementation of IFRS 17. Practical Implications: The analysis demonstrated that the “Insurance” industry is impacted by earnings management practices to a greater extent than the “Reinsurance” industry. These results should be analyzed simultaneously with the results from by the “Big Four” analysis concerning the impact of the introduction of IFRS 17. Originality/Value: Specifically, companies belonging to two sectors were selected: “Insurance” and “Reinsurance”. The statistical analysis brought to light that earnings management practices are “commonly adopted” in the “Insurance” and “Reinsurance” industry, which is consequently highly impacted by the introduction of IFRS 17. Research Limitations/Future Research: The total number of observations is high, all companies analyzed belong to only two industries. The analysis could be extended to a greater number of industries and companies in order to provide a more complete overview of the presence and the persistence of earnings management policies in different typologies of European financial listed companies.
Мета роботи: Метою цієї роботи було оцінити ступінь впливу на управління прибутком від прийняття Міжнародних стандартів фінансової звітності (МСФЗ) 17, а також визначити, чи буде цей вплив однаковим у різних європейських галузях «Страхування» та «Перестрахування». Дизайн / Метод / Підхід дослідження: Для надання емпіричних доказів того, що управління прибутком є більш поширеним в одних країнах і менш поширеним в інших, за допомогою статистичного аналізу було проведено спостереження за вибіркою європейських компаній, акції яких котируються на біржі, за період 2018-2020 роки. Застосовано модель Джонса. Результати дослідження: Це дослідження стосується впровадження нового принципу, написаного для дисциплінування обліку договорів страхування, і його наслідки повинні бути ретельно проаналізовані та відстежені регуляторами, а також правильно прийняті менеджерами, оскільки визначені доходи можуть мати вплив на попередні практики управління доходами. Теоретична цінність дослідження: Дане дослідження також стосується прогнозів щодо поведінки менеджерів, які можна передбачити з урахуванням агентської теорії, тому, знаючи ex-ante, в яких галузях управління доходами має високий вплив, можна передбачити гіпотетичні кроки менеджерів при впровадженні МСФЗ 17. Практична цінність дослідження: Аналіз показав, що на галузь "Страхування" практика управління доходами впливає більшою мірою, ніж на галузь "Перестрахування". Ці результати слід аналізувати одночасно з результатами аналізу "Великої четвірки" щодо впливу впровадження МСФЗ 17. Оригінальність / Цінність дослідження: Зокрема, були відібрані компанії, що належать до двох секторів: «Страхування» та «Перестрахування». Статистичний аналіз показав, що практика управління прибутком є «загальноприйнятою» в галузях «Страхування» та «Перестрахування», на які, відповідно, сильно впливає запровадження МСФЗ 17. Обмеження дослідження / Майбутні дослідження: Загальна кількість спостережень є великою, всі проаналізовані компанії належать лише до двох галузей. Аналіз може бути поширений на більшу кількість галузей та компаній з метою надання більш повного огляду присутності та стійкості політик управління прибутком у різних типологіях європейських фінансових компаній, акції яких котируються на біржі.
Źródło:: European Journal of Management Issues; 2022, 30, 3; 164-176
2519-8564
Pojawia się w:: European Journal of Management Issues
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 25.

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

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