Skocz do pozycji: 1.

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: 2.

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

/5

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Skocz do pozycji: 3.

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

/5

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Skocz do pozycji: 4.

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

/5

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Skocz do pozycji: 5.

Tytuł:

Wpływ zbyt małych i zbyt dużych nierówności płac na wzrost gospodarczy
The Impact of Too Little and Too Big Earnings Inequalities on Economic Growth

Autorzy:

Kumor, Paweł

Powiązania:

https://bibliotekanauki.pl/articles/964232.pdf

Data publikacji:

2010-05-15

Wydawca:

Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego

Tematy:

earnings inequalities
economic growth

Opis:

In political economics coexist two thoughts of income (earnings) inequalities. First, motivating, which postulates bigger earnings inequalities and second, egalitarian, which postulates less earnings inequalities. In the earlier research we tried to reconcile these two thoughts. We confirmed the appearance of optimum, for economic growth, earnings inequalities (Gini index, 28%). From this perspective, both too little and too big earnings inequalities had equally a negative impact on growth. Now we’re putting one hypothesis that too little and too big inequalities cause different waste of economic effectiveness. On one hand, when inequalities are less than the optimum ones, their increase causes considerable economic growth. Then the whole of society accept the increase of earnings inequalities. On the other hand, when inequalities are too big, their downfall gives less economic profits. Demands of poor people to reduce too big disparities in earnings can be corrected by the necessity of using differential work and level of education. The research was conducted for Poland for period 1970–2006 on the economic growth model.

Źródło:

Annales. Etyka w Życiu Gospodarczym; 2010, 13, 1
1899-2226
2353-4869

Pojawia się w:

Annales. Etyka w Życiu Gospodarczym

Dostawca treści:

Biblioteka Nauki

/5

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Skocz do pozycji: 6.

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

/5

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Skocz do pozycji: 7.

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

/5

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Skocz do pozycji: 8.

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

/5

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Skocz do pozycji: 9.

Tytuł:

Wpływ modelu korporacyjnego na tendencję kształtowania wynagrodzeń kadrzarządzających w wybranych bankach

Autorzy:

Folwarski, Mateusz
Trojak, Mariusz

Powiązania:

https://bibliotekanauki.pl/articles/630368.pdf

Data publikacji:

2015

Wydawca:

Szkoła Główna Handlowa w Warszawie

Tematy:

market value, banks, earnings, cash flows.

Opis:

The article compares the trends in compensation systems in financial institutionsunder two different models of corporation (Anglo-Saxon model in the USAand continental model in Germany). In the article wage levels, much higher in theAnglo-Saxon model, were not analyzed, only tendencies of executive salaries forthe years 2004–2012. General conclusion for both systems is that in the post-crisisperiod the managers’ compensation declined compared to the pre-crisis period.Management remuneration system differ significantly in both mondels. In theAnglo-Saxon model, a significant share of total remuneration is variable remuneration,and the continental model is based on fixed remuneration. The results obtained suggest that the in both corporate models that the bigger the bank, thehigher the level of remuneration.

Źródło:

Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace; 2015, 3, 2; 39-50
2082-0976

Pojawia się w:

Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace

Dostawca treści:

Biblioteka Nauki

/5

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Skocz do pozycji: 10.

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

/5

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Skocz do pozycji: 11.

Tytuł:

The right time for a big bath: asset impairment recognition in earnings management

Autorzy:

Mielcarz, Paweł
Osiichuk, Dmytro
Tselinko, Inna

Powiązania:

https://bibliotekanauki.pl/articles/40713469.pdf

Data publikacji:

2023-06-15

Wydawca:

Akademia Leona Koźmińskiego w Warszawie

Tematy:

Earnings management
Big bath
Asset impairment

Opis:

Purpose – The article investigates the patterns of asset impairment recognition in search of signs of “big bath” earnings management practices across an internationally diversified sample of public companies. It also elucidates the incentives that may underlie such practices and explores possible safeguards embedded in the existing corporate governance mechanisms. Design/methodology/approach – The article applied static panel and binary logit models to an international firm-level panel dataset of 1045 public companies observed between 2003 and 2018. Findings – Our empirical results suggest that recognition of asset impairment has no determinate impact on earnings volatility. Investigating the possibility of “big bath” earnings management practices, the authors found no impact of asset impairment recognition on total senior executive compensation in firms, which pay performance-based remuneration. The quality of corporate governance has appeared to impact the firms’ intertemporal proclivity to recognize asset impairment with those having the more entrenched and management-controlled boards being more likely to time impairment recognition by delaying it during exceptionally good and exceptionally bad years. While generally unlikely, recognition of asset impairment in a period with a recorded negative operating performance is found to be closely associated with key executive departures. Originality/value – The article corroborates the salient role of corporate governance mechanisms in shaping the intertemporal patterns of asset impairment recognition. The possible remedies to the phenomenon should be derived therefrom.

Źródło:

Central European Management Journal; 2023, 31, 2; 189-206
2658-0845
2658-2430

Pojawia się w:

Central European Management Journal

Dostawca treści:

Biblioteka Nauki

/5

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Skocz do pozycji: 12.

Tytuł:

Analiza porównawcza znaczenia wyników finansowych i przepływów pieniężnych dla wartości rynkowej w polskim sektorze bankowym

Autorzy:

Bolibok, Piotr

Powiązania:

https://bibliotekanauki.pl/articles/630353.pdf

Data publikacji:

2015

Wydawca:

Szkoła Główna Handlowa w Warszawie

Tematy:

market value, banks, earnings, cash flows

Opis:

The paper compares the relevance of earnings and cash flows for market valuein the Polish banking sector. The study used linear regression analysis based onthe data from separate and consolidated financial statements of 18 domesticallybasedcommercial banks listed on the Warsaw Stock Exchange over the period1998–2013. The results indicate that net earnings reported by the examined banksare more value-relevant than both net cash flows and cash flows to equity.

Źródło:

Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace; 2015, 3, 2; 51-62
2082-0976

Pojawia się w:

Kwartalnik Kolegium Ekonomiczno-Społecznego Studia i Prace

Dostawca treści:

Biblioteka Nauki

/5

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Skocz do pozycji: 13.

Tytuł:

Cross country linkages as determinants of procyclicality of loan loss provisions – empirical importance of SURE specification

Autorzy:

Olszak, Małgorzata
Pipień, Mateusz

Powiązania:

https://bibliotekanauki.pl/articles/1203975.pdf

Data publikacji:

2013

Wydawca:

Uniwersytet Warszawski. Wydawnictwo Naukowe Wydziału Zarządzania

Tematy:

loan loss provisions
procyclicality
earnings management

Opis:

Procyclicality in banking may result in financial instability and therefore be destructive to economic growth. The sensitivity of different banking balance sheet and income statement variables to the business cycle is diversified and may be prone to increasing integration of financial markets. In this paper we address the problem of the influence of financial integration on the transmission of economic shocks from one country to another and consequently on the sensitivity of loan loss provisions to the business cycle. We also aim to find out whether earnings management hypotheses are supported throughout the whole business cycle. Application of the SURE approach to 13 OECD countries in 1995-2009 shows that the procyclicality of LLP is statistically significant almost in thewhole sample of countries. Independent of the econometric specification, the earnings management hypotheses are hardly supported.

Źródło:

Faculty of Management Working Paper Series; 2013, WPS 2/2014; 1-19
2300-4371

Pojawia się w:

Faculty of Management Working Paper Series

Dostawca treści:

Biblioteka Nauki

/5

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Skocz do pozycji: 14.

Tytuł:

Economic Integration and Migrant Networks: The Case of Ukrainian Migrants in the Warsaw Agglomeration

Autorzy:

Maruszewski, Wojciech
Kaczmarczyk, Paweł

Powiązania:

https://bibliotekanauki.pl/articles/1356317.pdf

Data publikacji:

2020-12-31

Wydawca:

Uniwersytet Warszawski. Wydział Nauk Ekonomicznych

Tematy:

economic integration
earnings
immigration from Ukraine

Opis:

In the past years, Poland has been not only a country of (mass) immigration but also a country where foreigners have begun to play a much larger role in the domestic labour market than ever before. This makes the analyses of foreigners’ integration increasingly important both to understand the situation of immigrants in Poland and their impact on the national economy and social processes. In this context, this article aims to quantify one of the dimensions of the economic integration of immigrants. We look at the level of earnings as one of the indicators of their integration process. Additionally, we refer to the impact of social capital (in the form of migrant networks) on the economic situation of immigrants. We focus on immigrants from Ukraine—the most numerous group of foreigners in Poland. Based on a unique data set, we empirically identify the key dimensions that have an impact on their incomes, including gender, employment sector and legal status. We also point to the statistically significant effects of migrant networks on migrants’ earnings.

Źródło:

Central European Economic Journal; 2020, 7, 54; 258 - 278
2543-6821

Pojawia się w:

Central European Economic Journal

Dostawca treści:

Biblioteka Nauki

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Skocz do pozycji: 15.

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

/5

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Skocz do pozycji: 16.

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

/5

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Skocz do pozycji: 17.

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

/5

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Skocz do pozycji: 18.

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

/5

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Skocz do pozycji: 19.

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

/5

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Skocz do pozycji: 20.

Tytuł:

Performance Management in Logistics Companies – a Two–Dimensional Approach

Autorzy:

Comporek, Michał

Powiązania:

https://bibliotekanauki.pl/articles/504604.pdf

Data publikacji:

2019

Wydawca:

Międzynarodowa Wyższa Szkoła Logistyki i Transportu

Tematy:

performance management
real earnings management
logistics enterprises

Opis:

The main aim of the article is to emphasize the problem of selecting performance management (PM) indicators in logistics companies. This issue is particularly significant, because the proper selection of PM measures affects the following: the effectiveness of the implemented performance measurement system, the nature of information provided to its individual stakeholders, the system of interconnections within the organization, and often even the efficiency of the entire business entity on the market. However, the paper draws attention to the potential of deliberately distorting the reported company results by the management team. Hence, the secondary goal of the article is to select various tools and/or techniques which may be helpful in assessing the quality of reporting PM - in relation to the real earnings management (REM). The applied research methods are based on a critical analysis of the literature on the subject matter.

Źródło:

Logistics and Transport; 2019, 43, 3; 5-14
1734-2015

Pojawia się w:

Logistics and Transport

Dostawca treści:

Biblioteka Nauki

/5

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Skocz do pozycji: 21.

Tytuł:

Does bank size affect the value relevance of accounting data? The evidence from Poland

Autorzy:

Bolibok, Piotr

Powiązania:

https://bibliotekanauki.pl/articles/2097017.pdf

Data publikacji:

2018

Wydawca:

Polska Akademia Nauk. Komitet Nauk o Finansach PAN

Tematy:

banks
value relevance
size
earnings
book values

Opis:

The paper aims at the empirical evaluation of the impact of bank size (as measured by median total assets) on the value relevance of two key accounting variables, i.e. book values of equity and net earnings, in terms of their joint explanatory power in the regression model and the relative responsiveness of bank market values to the changes in those variables. The research is based on the multiple linear regression analysis after controlling for the presence of fixed and random effects. The examined sample covers all domestically-based commercial banks listed on the Warsaw Stock Exchange over the period 1998–2017. The final pooled sample comprises 18 banks and 271 bank-year observations. The findings of the study suggest that the equity investors perceive the joint informational content of book values and earnings of larger banks as more value relevant in comparison to the accounting numbers reported by their smaller peers. The responsiveness of banks’ market values to the changes in each of the explanatory variables seems, however, to be affected by their size in a different way. As expected, book values of equity have turned out to be significantly more informative for smaller banks, whereas the evidence regarding the impact of size on the responsiveness of bank market values to the changes in net earnings is ambiguous. Although larger banks appear to exhibit a higher sensitivity of stock prices to variations in net earnings per share than their smaller peers, the difference between the examined subsamples is not statistically significant.

Źródło:

FINANSE Czasopismo Komitetu Nauk o Finansach PAN; 2018, 1(11); 106-122
1899-4822

Pojawia się w:

FINANSE Czasopismo Komitetu Nauk o Finansach PAN

Dostawca treści:

Biblioteka Nauki

/5

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Skocz do pozycji: 22.

Tytuł:

Znaczenie organizacji i funkcjonowania działalności jednostek samorządu terytorialnego
Significance of organization and functioning of local government units

Autorzy:

Lipczyńska, Aneta

Powiązania:

https://bibliotekanauki.pl/articles/485743.pdf

Data publikacji:

2017

Wydawca:

Instytut Studiów Międzynarodowych i Edukacji Humanum

Tematy:

local government, community, county, voivodeship earnings, expenses

Opis:

The article presents the activity of local self-government units in Poland. The purpose of this article is to present the functioning of territorial self-government units, which is based on a three-tiered division and which consists of a municipality, a county and a province. Each local government unit fulfills important roles, and its scope of action is very extensive and varied. Units of local self-government have statutory own tasks and orders that they must fulfill and from which they have to settle. Their main aim is to meet the needs and expectations of local and regional communities.

Źródło:

Humanum. Międzynarodowe Studia Społeczno-Humanistyczne; 2017, 3(26); 213-223
1898-8431

Pojawia się w:

Humanum. Międzynarodowe Studia Społeczno-Humanistyczne

Dostawca treści:

Biblioteka Nauki

/5

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Skocz do pozycji: 23.

Tytuł:

Czy w Polsce rośnie akceptacja społeczna dla nierówności płac?
Is There a Rising Social Acceptance of Earnings Inequalities in Poland?

Autorzy:

Kumor, Paweł

Powiązania:

https://bibliotekanauki.pl/articles/20254384.pdf

Data publikacji:

2011

Wydawca:

Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego

Tematy:

social acceptance earnings
inequalities
econometric model
Polska

Opis:

In our studies we deal with estimating of the optimal ranges of earnings – the optimal of Gini indexes which are favourable to maximization of the GDP growth in Poland. We suspect that the optimal Gini coefficients expressing the acceptance of the whole of society for earnings inequalities can increase. In the article we formulated a hypothesis on the social habit to increasing disproportions of earnings. We verified the hypothesis on the basis of the model of the 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 sub-periods being moved increasingly in time. In the second stage, we studied the character of changes of the optimal Gini coefficients. In the studies we proved the hypothesis on the habit of society to increasing disproportions of earnings. 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 coefficient may be slowed down.

Źródło:

Annales. Etyka w Życiu Gospodarczym; 2011, 14, 1; 171-179
1899-2226
2353-4869

Pojawia się w:

Annales. Etyka w Życiu Gospodarczym

Dostawca treści:

Biblioteka Nauki

/5

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Skocz do pozycji: 24.

Tytuł:

Pomiar i prezentacja sprawozdawcza dokonań finansowych przedsiębiorstwa a cele menedżerów
Comprehensive income valuation and financial report’s presentation versus management purposes

Autorzy:

Strojek-Filus, M.

Powiązania:

https://bibliotekanauki.pl/articles/322047.pdf

Data publikacji:

2015

Wydawca:

Politechnika Śląska. Wydawnictwo Politechniki Śląskiej

Tematy:

zarządzanie wynikami
instrumenty kształtowania wyników
sprawozdanie finansowe
dochód całkowity
earnings management
objectives of earnings management
financial report
comprehensive income

Opis:

W coraz bardziej rozwiniętej pod względem rynków kapitałowych gospodarce światowej przez zarządy jednostek gospodarczych stosowane są różne, instrumenty kształtowania wyników prezentowanych w sprawozdaniach finansowych. W prawie bilansowym - i w efekcie - w sprawozdaniu finansowym rozszerza się zakres wyników bilansowych jednostki. Jednym z głównych parametrów określających sytuację finansową jednostki gospodarczej jest wynik - całkowity dochód, który jest prezentowany w sprawozdaniu finansowym. W artykule dokonano przeglądu i analizy instrumentów kształtowania wyników całkowitych.
In a global economy, which is rapidly developing in terms of capital markets, economic units management staffs make use of various tools to shape the results presented in financial statements. The range of financial results in entity extended in low of accounting and financial statement. One of the main parameters of the evaluation of financial position of entity is the level of total comprehensive income reported in financial statements. The study contains an overview and analysis of earnings management tools influenced on comprehensive income.

Źródło:

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska; 2015, 80; 254-266
1641-3466

Pojawia się w:

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

Dostawca treści:

Biblioteka Nauki

/5

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Skocz do pozycji: 25.

Tytuł:

Limitowanie odliczania odsetek jako kosztów w podatku dochodowym w Republice Federalnej Niemiec – istota i skutki

Autorzy:

Leszczyłowska, Anna

Powiązania:

https://bibliotekanauki.pl/articles/581858.pdf

Data publikacji:

2017

Wydawca:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Tematy:

niedostateczna kapitalizacja
earnings-stripping rule
podatek dochodowy
Niemcy

Opis:

W Republice Federalnej Niemiec od 2008 roku wprowadzono barierę odsetkową (Zinsschranke), która polega na limitowaniu możliwości odliczania odsetek jako kosztów w podatku dochodowym i należy do grupy rozwiązań w zakresie niedostatecznej kapitalizacji. Celem artykułu jest omówienie istoty i skutków ekonomicznych bariery odsetkowej stosowanej w RFN. Kwestie te nie były dotąd przedmiotem analizy w Polsce, mimo że sposób limitowania odliczania odsetek w Niemczech jest rozwiązaniem istotnym również z polskiej perspektywy. Rozwiązanie to służy jako wzór w propozycji OECD zmierzającej do ograniczenia erozji podstawy opodatkowania i transferu dochodów (BEPS) oraz jest zgodne z zaleceniami unijnej dyrektywy o przeciwdziałaniu unikaniu opodatkowania. Ponadto w ostatnich latach w różnych państwach nastąpiły modyfikacje reguł dotyczących niedostatecznej kapitalizacji. Wyraźnie wzrosła liczba państw stosujących regulacje podobne do niemieckich, a od 2015 roku do grupy tej należy również Polska.

Źródło:

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu; 2017, 488; 76-87
1899-3192

Pojawia się w:

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

Dostawca treści:

Biblioteka Nauki

/5

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Skocz do pozycji: 26.

Tytuł:

Modeling the Impact of Agriculture, Export Earnings and Inflation on Gross Domestic Product Using the Generalized Least Square (GLS) Approach

Autorzy:

Akpensuen, Shiaondo Henry
Joel, Simon
Alhaji, Abdullahi Gwani

Powiązania:

https://bibliotekanauki.pl/articles/1059403.pdf

Data publikacji:

2019

Wydawca:

Przedsiębiorstwo Wydawnictw Naukowych Darwin / Scientific Publishing House DARWIN

Tematy:

Agriculture
Export Earnings
Gross Domestic Product (GDP)
Inflation

Opis:

The paper explored the impact of Agriculture, export earnings and inflation on gross domestic product (GDP). Time series data were obtained from the central bank of Nigeria statistical bulletin from 1981 to 2018. Each series consist of 38 observations. Evidence from our study showed that the predictor variables (Agriculture, export earnings and inflation) were significantly joint predictors of Gross Domestic Product. The predictor variables jointly explained 68.958% of GDP. Result of the analysis also revealed that both agriculture and export earnings have a positive impact on gross domestic product reaffirming the importance of the sectors to economic growth while inflation has a negative impact on gross domestic product. With evidence that agriculture has the potential to cause economic growth, spur industrialization as well as to enhance the living condition of the nation’s majority, there should be increased investment in the development of the sector. This study also revealed that inflation is detrimental to sustainable economic growth in Nigeria. The result has important policy implications for both domestic policy makers and development partners. It also implies that controlling inflation is a necessary condition for promoting economic growth. Thus, policy makers should focus on maintaining inflation at a low rate probably single digit.

Źródło:

World Scientific News; 2019, 134, 2; 326-334
2392-2192

Pojawia się w:

World Scientific News

Dostawca treści:

Biblioteka Nauki

/5

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Skocz do pozycji: 27.

Tytuł:

The use of Beneish M-scores to reveal creative accounting: evidence from Slovakia

Autorzy:

Durana, Pavol
Blazek, Roman
Machova, Veronika
Krasnan, Miroslav

Powiązania:

https://bibliotekanauki.pl/articles/22443167.pdf

Data publikacji:

2022

Wydawca:

Instytut Badań Gospodarczych

Tematy:

Beneish model
creative accounting
earnings management
ROC curve

Opis:

Research background: In creative accounting, the primary goal of every enterprise is to increase and strengthen its market position. Over the years, manipulation of financial statements has also reached the territory of Central European countries, including the Slovak Republic. Therefore, an analysis was conducted to identify enterprises that handle accounting. This article focuses specifically on Sector A: agriculture, forestry, and fisheries. Purpose of the article: The aim of the article was to reveal the creative accounting practices of a sample of enterprises operating in the Slovak business environment in a sector using the Beneish model. Methods: The Beneish model was used to calculate the manipulation of enterprises? financial statements. Both variants, that is, the 5-parameter model and 8-parameter model, were used for the calculation. The results of these models were plotted using graphs and receiver operating characteristic (ROC) curves. Findings & value added: Based on the use of both variants of the Beneish model, it was proven that enterprises in the analyzed sector use the possibility of manipulating financial statements. The added value of the article is the detection of the use of creative accounting in a specific sector, which makes the study original in its application and space-time orientation.

Źródło:

Equilibrium. Quarterly Journal of Economics and Economic Policy; 2022, 17, 2; 481-510
1689-765X
2353-3293

Pojawia się w:

Equilibrium. Quarterly Journal of Economics and Economic Policy

Dostawca treści:

Biblioteka Nauki

/5

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Skocz do pozycji: 28.

Tytuł:

Quo Vadis, earnings management? Analysis of manipulation determinants in Central European environment

Autorzy:

Valaskova, Katarina
Adamko, Peter
Frajtova Michalikova, Katarina
Macek, Jaroslav

Powiązania:

https://bibliotekanauki.pl/articles/19233715.pdf

Data publikacji:

2021

Wydawca:

Instytut Badań Gospodarczych

Tematy:

earnings management
discretionary accruals
aggressive accounting
conservative accounting

Opis:

Research background: The paper investigates the earnings management phenomenon in the context of Central European countries, attempting to identify the factors and incentives that can influence earnings management behavior on a sample of 8,156 enterprises from Slovakia, the Czech Republic, Hungary, and Poland. Purpose of the article: The main purpose of the manuscript is to prove that there are significant differences in earnings management practices (measured by discretionary accruals) across the countries and to find the firm-specific features that influence the way enterprises manage their earnings. Methods: The modified Jones model was used to calculate the discretionary accruals, which are further analyzed across the countries. The statistically significant differences were confirmed across the countries. Thus, the impact of the economic sector, firm size, firm age, legal form, and ownership structure on earnings management behavior is studied by the Kruskal-Wallis test. The Dunn-Bonferroni post hoc tests then revealed the significant differences across the categories of the investigated earnings management determinants. To find the association between the particular earnings management practice (income-increasing or income-decreasing manipulation), correspondence analysis was used to visualize the mutual relations. Findings & value added: The results of the realized investigation revealed that the economic sector is one of the most important earnings management determinants, as its statistical significance was confirmed in each analyzed country. The correspondence analysis determined specific sectors, where income-increasing manipulation with earnings is practiced (NACE codes F, J, K, M, N), and vice versa, income-decreasing earnings management is characteristic for enterprises in sectors A, C, D, G or L. In specific economic conditions, firm size is also a relevant indicator (Hungary), or firm age and legal form and ownership structure (Poland). The recognition of crucial earnings management incentives may be helpful for authorities, policymakers, analysts and auditors when identifying various techniques and practices of earnings manipulation which could vary across the sectors and taking necessary measures to mitigate potential financial risks.

Źródło:

Oeconomia Copernicana; 2021, 12, 3; 631-669
2083-1277

Pojawia się w:

Oeconomia Copernicana

Dostawca treści:

Biblioteka Nauki

/5

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Skocz do pozycji: 29.

Tytuł:

Wpływ poziomu gospodarczego na nierówności płac w Polsce - krzywa Kuznetsa
The Impact of Economic Level on Inequalities of Earnings in Poland - Kuznets’ Curve

Autorzy:

Kumor, Paweł

Powiązania:

https://bibliotekanauki.pl/articles/20196996.pdf

Data publikacji:

2009

Wydawca:

Uniwersytet Łódzki. Wydawnictwo Uniwersytetu Łódzkiego

Tematy:

Kuznets’ curve
earnings inequality
Lorenz coefficient
GDP level

Opis:

In the article we made an attempt to estimate the impact of structural economic changes on inequalities of earnings in Poland. The processes of structural changes were represented by GDP per one employee. Inequalities of earnings were measured with Lorenz coefficient. Additionally we used a variable, representing the health human capital infant death rate in a thousand living births. On the basis of 19802006 sample we proved Kuznets’ hypothesis about the parabolic impact of GDP per one employee on inequalities of earnings. In the studied period economy was found on the left arm of the parabola. The increase of GDP level per one employee favoured the increase of inequalities. Our estimates resulted in the fact that inequalities of earnings can maximally increase by about 1.4 percentage point. We think that according to Kuznets’ hypothesis inequalities will start to fall when GDP per one employee exceeds 103,000 PLN worth. The studies confirm the negative impact of the human capital measure infant birth rate on inequalities. We hope that this article enables to better understand market mechanisms influencing inequalities of earnings.

Źródło:

Annales. Etyka w Życiu Gospodarczym; 2009, 12, 1; 245-260
1899-2226
2353-4869

Pojawia się w:

Annales. Etyka w Życiu Gospodarczym

Dostawca treści:

Biblioteka Nauki

/5

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Skocz do pozycji: 30.

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

/5

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Skocz do pozycji: 31.

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

/5

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Skocz do pozycji: 32.

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

/5

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Skocz do pozycji: 33.

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

/5

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Skocz do pozycji: 34.

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: 35.

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

/5

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Skocz do pozycji: 36.

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

/5

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Skocz do pozycji: 37.

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

/5

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Skocz do pozycji: 38.

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

/5

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Skocz do pozycji: 39.

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

/5

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Skocz do pozycji: 40.

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

/5

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Skocz do pozycji: 41.

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: 42.

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: 43.

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

/5

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Skocz do pozycji: 44.

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

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Skocz do pozycji: 45.

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

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Skocz do pozycji: 46.

Tytuł:

Shariah compliance and earnings management in India: Insights on reporting transparency and financial stability

Autorzy:

Abraham, Manu

Powiązania:

https://bibliotekanauki.pl/articles/36107548.pdf

Data publikacji:

2024

Wydawca:

Fundacja Naukowa Instytut Współczesnych Finansów

Tematy:

Shariah Index
Islamic finance
reporting transparency
financial stability
earnings management

Opis:

The present study examines the impact of earnings management on financial stability and reporting transparency among Shariah and Shariah-non-compliant firms in India from 2008 to 2023. The Study uses Kothari and Roychodhury models to estimate earnings management proxies. Earnings manipulation and bankruptcy of the sample firms were estimated using Beneish’s M-score and Altman’s Z-score models. The Study reveals that compared to non-Shariah firms, the Shariah-complaint firms are less prone to earnings management and bankruptcy, and it was also found that they are more transparent in reporting their results. Overall, the study confirms that more than a religious indexation, Shariah screening is effective in maintaining ethical conduct of business practices that enhance the protection of investors. The findings of this study aid managers in policy formulations, and it will be helpful for potential investors in making investment decisions based on Shariah principles.

Źródło:

Modern Finance; 2024, 2, 1; 145-165
2956-7742

Pojawia się w:

Modern Finance

Dostawca treści:

Biblioteka Nauki

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Skocz do pozycji: 47.

Tytuł:

Integracja różnych prędkości a zbieżność realna krajów Europy Środkowo-Wschodniej z Unią Europejską
Multispeed integration vs. real convergence of Central and Eastern Europe countries with the European Union

Autorzy:

Heller, Janusz
Kotliński, Kamil

Powiązania:

https://bibliotekanauki.pl/articles/582472.pdf

Data publikacji:

2018

Wydawca:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Tematy:

konwergencja
płace
Europa wielu prędkości
convergence
earnings
multi-speed Europe

Opis:

Modele integracji różnych prędkości były i wciąż są adaptowane w praktyce, zwłaszcza w stosunku do nowych członków Unii Europejskiej. Celem badań jest ocena zbieżności realnej krajów członkowskich z Europy Środkowo-Wschodniej z Unią Europejską w warunkach integracji różnych prędkości. Jako mierniki zbieżności realnej wykorzystano dwa wskaźniki: PKB na mieszkańca i średnią płacę brutto. W przypadku obu mierników wystąpiła konwergencja absolutna typu beta. Została więc potwierdzona teoria integracji: na wspólnym rynku działają procesy dążące do wyrównywania płac. Proces zbieżności płac zachodzi w wolniejszym tempie niż zbieżność PKB. We wszystkich krajach Europy Środkowo- -Wschodniej PKB per capita wyrażony jako procent średniej UE osiąga wyższe wielkości niż średnie płace wyrażone jako procent średniej UE.
Multi-speed models of integration have been and are being adapted in practice, especially in relation to new members of the European Union. The aim of the study is to assess the real convergence of the member states of Central and Eastern Europe with the European Union in the conditions of multi-speed integration. Two ratios were used: GDP per capita and average annual gross earning. Absolute beta convergence occurred for both measures. The process of wage convergence was observed and the theory of the common market was confirmed. The process of wage convergence occurs at a slower rate than the convergence of GDP. In all CEE countries, GDP per capita expressed as a percent of EU average is higher than the average wages expressed as a percent of EU average.

Źródło:

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu; 2018, 539; 51-61
1899-3192

Pojawia się w:

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

Dostawca treści:

Biblioteka Nauki

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Skocz do pozycji: 48.

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: 49.

Tytuł:

COMPARISON OF LIQUIDITY BASED AND FINANCIAL PERFORMANCE BASED INDICATORS IN FINANCIAL ANALYSIS

Autorzy:

Pustylnick, Igor

Powiązania:

https://bibliotekanauki.pl/articles/489125.pdf

Data publikacji:

2017

Wydawca:

Instytut Badań Gospodarczych

Tematy:

earnings management
financial statement fraud
revenue manipulations
M-Score
Z-Score

Opis:

Research background: Since the turn of the 21st century financial statement manipulations became the center of attention for accountants, auditors and financial analysts. Since being classified by the regulators as fraudulent, earnings management has required a separate detection methodology. The majority of detection research is performed through the comparison of a large number of statements for the same company in order to find irregularities in earnings behavior. Shortening of the detection time and the amount of data becomes important. Purpose of the article: The goal was to compare the characteristics of M-Score and ∆P-∆R and to find their advantages and limitations. Applying both indicators to the different samples, the research attempted to determine the statistical connection between them and to set up the limits of their applicability. Since M-Score indicator is liquidity-based, this research attempted to determine to which extent M-Score and Z-Score are statistically related. Methods: The research paper compares the behavior of both indicators using various samples of financial data: the sample of companies, charged with fraud, the sample with exceptional liquidity, the large random sample and the sample from the emerging market economy. Based on the original observations, two other subsamples (one based on poor Z-Score and one based on exceptional Z-Score) were extracted from the main sample. For all samples ∆P-∆R, M-Score and Z-Score were statistically compared among and between themselves. Findings/value added: The research found the limitations of ∆P-∆R and M-Score in the stable markets and was able to connect them in the emerging market by using linear regression model (also including Z-Score). The research confirmed that M-Score can mistake exceptional performance for manipulations, resulted in Type I errors. ∆P-∆R appeared somewhat coarse and prone to Type II errors. The combined use of both in the emerging markets will provide the best approach.

Źródło:

Oeconomia Copernicana; 2017, 8, 1; 83-97
2083-1277

Pojawia się w:

Oeconomia Copernicana

Dostawca treści:

Biblioteka Nauki

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Skocz do pozycji: 50.

Tytuł:

Wynagrodzenia w Polsce w latach 2004–2012
Salaries and wages in Poland between 2004 and 2012

Autorzy:

Zgliczyński, Wojciech Stefan

Powiązania:

https://bibliotekanauki.pl/articles/14969285.pdf

Data publikacji:

2013

Wydawca:

Kancelaria Sejmu. Biuro Analiz Sejmowych

Tematy:

average monthly gross wages and salaries
Polska
labour market
earnings
EU

Opis:

The paper looks at the issue of earnings in Poland between 2004 and 2012. First, the author discusses the level of average gross monthly earnings broken down by various demographic and occupational characteristics, such as occupation, region, sex, educational attainment and sector of economy. In the second section the data on earnings in Poland is compared with the data from other EU and OECD member countries.

Źródło:

Studia BAS; 2013, 4(36); 97-123
2080-2404
2082-0658

Pojawia się w:

Studia BAS

Dostawca treści:

Biblioteka Nauki

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