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An Empirical Investigation Of The Relationship Between Information Asymmetry And Earnings Management
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Book Synopsis An Empirical Investigation of the Relationship Between Information Asymmetry and Earnings Management by : Vernon Jay Richardson
Download or read book An Empirical Investigation of the Relationship Between Information Asymmetry and Earnings Management written by Vernon Jay Richardson and published by . This book was released on 1997 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Information Asymmetry and Earnings Management by : Vernon J. Richardson
Download or read book Information Asymmetry and Earnings Management written by Vernon J. Richardson and published by . This book was released on 1998 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper conducts an empirical investigation of the relationship between information asymmetry and earnings management predicted by Dye (1988) and Trueman and Titman (1988). When information asymmetry is high, stakeholders do not have sufficient resources, incentives, or access to relevant information to monitor manager's actions, which gives rise to the practice of earnings management (Schipper (1989) and Warfield et al. (1995)). Empirical results suggest a systematic relationship between the magnitude of information asymmetry as measured by bid-ask spreads and analyst forecast dispersion and the level of earnings management in both a broad sample setting and in a time-specific setting around seasoned equity offerings.
Book Synopsis Earnings Management by : Joshua Ronen
Download or read book Earnings Management written by Joshua Ronen and published by Springer Science & Business Media. This book was released on 2008-08-06 with total page 587 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a study of earnings management, aimed at scholars and professionals in accounting, finance, economics, and law. The authors address research questions including: Why are earnings so important that firms feel compelled to manipulate them? What set of circumstances will induce earnings management? How will the interaction among management, boards of directors, investors, employees, suppliers, customers and regulators affect earnings management? How to design empirical research addressing earnings management? What are the limitations and strengths of current empirical models?
Book Synopsis Earnings Quality by : Jennifer Francis
Download or read book Earnings Quality written by Jennifer Francis and published by Now Publishers Inc. This book was released on 2008 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: This review lays out a research perspective on earnings quality. We provide an overview of alternative definitions and measures of earnings quality and a discussion of research design choices encountered in earnings quality research. Throughout, we focus on a capital markets setting, as opposed, for example, to a contracting or stewardship setting. Our reason for this choice stems from the view that the capital market uses of accounting information are fundamental, in the sense of providing a basis for other uses, such as stewardship. Because resource allocations are ex ante decisions while contracting/stewardship assessments are ex post evaluations of outcomes, evidence on whether, how and to what degree earnings quality influences capital market resource allocation decisions is fundamental to understanding why and how accounting matters to investors and others, including those charged with stewardship responsibilities. Demonstrating a link between earnings quality and, for example, the costs of equity and debt capital implies a basic economic role in capital allocation decisions for accounting information; this role has only recently been documented in the accounting literature. We focus on how the precision of financial information in capturing one or more underlying valuation-relevant constructs affects the assessment and use of that information by capital market participants. We emphasize that the choice of constructs to be measured is typically contextual. Our main focus is on the precision of earnings, which we view as a summary indicator of the overall quality of financial reporting. Our intent in discussing research that evaluates the capital market effects of earnings quality is both to stimulate further research in this area and to encourage research on related topics, including, for example, the role of earnings quality in contracting and stewardship.
Book Synopsis Research and Development and Earnings Management. An Empirical Analysis of Analysts’ Reactions during Conference Calls by : Julian Kasturiarachchige
Download or read book Research and Development and Earnings Management. An Empirical Analysis of Analysts’ Reactions during Conference Calls written by Julian Kasturiarachchige and published by GRIN Verlag. This book was released on 2017-07-18 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2015 in the subject Business economics - Investment and Finance, grade: 1,0, LMU Munich (Instituts für Rechnungswesen und Wirtschaftsprüfung), language: English, abstract: This study is an attempt to combine two important streams of accounting research: The problem of earnings management (hereafter EM) and the role of conference calls (hereafter CCs) as disclosure medium. In doing so, I focus on real activities manipulation (hereafter RM) through cutting R&D expenses. I contribute to the existing literature by answering two questions: Firstly, whether the risk of managers engaging in RM via R&D spending affects the probability of analysts, or management addressing those cuts during CCs. Secondly, if the analyst community benefits from such discussions, by obtaining useful information, not accessible via other information channels. To answer these questions, I examine the 4th quarter earnings conference call transcripts of 300 firm years with an increased RM risk. I use content analysis to measure analysts’ and managers’ reactions, and create dummy variables that contain the information found.
Book Synopsis Diversification Strategy and Earnings Management by : Ranjitha Ajay
Download or read book Diversification Strategy and Earnings Management written by Ranjitha Ajay and published by . This book was released on 2015 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: The present study examines the link between diversification strategies and earnings management for firms operating in manufacturing sector. Diversification strategies include expansion across market (international diversification) and product segments (product diversification). The sample derived for the period 2004 to 2013 includes business groups affiliated firms and standalone firms. Several firm-specific factors are included in the model. Agency cost and business risk variables are included to understand the applicability of information asymmetry hypothesis and earnings volatility hypothesis. Both univariate analysis (mean comparison) and multivariate analysis (panel data regression) is employed. The empirical analysis shows that for the overall sample product diversification enhances the practice of earnings management. Similar finding is found for international firms within business group. This shows that international diversification as such does not increases earnings management however diversification across product segment provide favorable condition for managing earnings thus reducing the quality of reported earnings. Sub sample analysis reveals that agency cost is having a significant negative relationship with earnings management indicating that higher informational asymmetry is not conductive to the practice of earnings management.
Book Synopsis Research and Development and Earnings Management. an Empirical Analysis of Analysts' Reactions During Conference Calls by : Julian Kasturiarachchige
Download or read book Research and Development and Earnings Management. an Empirical Analysis of Analysts' Reactions During Conference Calls written by Julian Kasturiarachchige and published by Grin Publishing. This book was released on 2017-07-19 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2015 in the subject Business economics - Investment and Finance, grade: 1,0, LMU Munich (Instituts fur Rechnungswesen und Wirtschaftsprufung), language: English, abstract: This study is an attempt to combine two important streams of accounting research: The problem of earnings management (hereafter EM) and the role of conference calls (hereafter CCs) as disclosure medium. In doing so, I focus on real activities manipulation (hereafter RM) through cutting R&D expenses. I contribute to the existing literature by answering two questions: Firstly, whether the risk of managers engaging in RM via R&D spending affects the probability of analysts, or management addressing those cuts during CCs. Secondly, if the analyst community benefits from such discussions, by obtaining useful information, not accessible via other information channels. To answer these questions, I examine the 4th quarter earnings conference call transcripts of 300 firm years with an increased RM risk. I use content analysis to measure analysts' and managers' reactions, and create dummy variables that contain the information found.
Book Synopsis Earnings Management and Corporate Finance by : Joanna Lizińska
Download or read book Earnings Management and Corporate Finance written by Joanna Lizińska and published by Taylor & Francis. This book was released on 2024-07-01 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today's dynamic landscape of accounting, corporate finance, and business management, earnings management has assumed paramount importance. Transparent and reliable accounting information is crucial for accurate corporate performance forecasting and financial decision-making. This book uniquely discusses practical earnings management methods within the accounting and taxation realms. It is supported by extensive international evidence linking informativeness of financial reports to companies’ financial decisions. Delving into the earnings management process, this book provides profound insights into how profits can be influenced through accounting choices and real business transactions. Real-life case studies will undoubtedly facilitate the understanding of accounting and taxation methods. Additionally, it unravels key elements of corporate finance puzzles related to the transparency of financial reports, including the macroeconomic environment, profit thresholds, cash management, audit quality, financing decisions, and financial health. With broad empirical evidence from various European countries, it multidimensionally explores the important link between the quality of information in financial statements and trade-offs behind financial decisions. The book serves as a valuable reference for international researchers in corporate finance, accounting, and corporate governance. It is also a powerful tool for business practitioners, including owners, lenders, auditors, regulatory and professional bodies, business partners, or other market participants. For those seeking the latest insights on earnings management, those producing or assessing accounting information, and those using financial reports in their research or business practice, this book is a must-read.
Book Synopsis An Empirical Investigation of the Relationship Between a Reduction in Earnings Variability and Market Returns by : Sulaiman Ali Ibrahim Alaraini
Download or read book An Empirical Investigation of the Relationship Between a Reduction in Earnings Variability and Market Returns written by Sulaiman Ali Ibrahim Alaraini and published by . This book was released on 1998 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Management Earnings Forecasts, Information Asymmetry, and Liquidity by : Mikhail Pevzner
Download or read book Management Earnings Forecasts, Information Asymmetry, and Liquidity written by Mikhail Pevzner and published by . This book was released on 2007 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates (1) whether forecasting firms have lower liquidity prior to the issuance of a management-earnings forecast than non-forecasting firms and (2) whether forecasting earnings has a persistent affect on a firm's liquidity. I find that, first, forecasting firms have greater liquidity in the period prior to a forecast. Second, while issuing forecast increases liquidity in over short windows, this effect is not significant over longer windows. Third, initiating or ceasing the issuance of earnings forecasts has no significant long-term effect on the firm's liquidity. Combined, these results suggest that management earnings forecasting decision does not appear to be driven by liquidity-improvement goals, and that management earnings forecasts do not appear to strongly affect firms' liquidity.
Book Synopsis Introduction to Earnings Management by : Malek El Diri
Download or read book Introduction to Earnings Management written by Malek El Diri and published by Springer. This book was released on 2017-08-20 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides researchers and scholars with a comprehensive and up-to-date analysis of earnings management theory and literature. While it raises new questions for future research, the book can be also helpful to other parties who rely on financial reporting in making decisions like regulators, policy makers, shareholders, investors, and gatekeepers e.g., auditors and analysts. The book summarizes the existing literature and provides insight into new areas of research such as the differences between earnings management, fraud, earnings quality, impression management, and expectation management; the trade-off between earnings management activities; the special measures of earnings management; and the classification of earnings management motives based on a comprehensive theoretical framework.
Book Synopsis An Examination of Three Sources and Impact of Information Asymmetry in Financial Markets by : Ming Ying Lim
Download or read book An Examination of Three Sources and Impact of Information Asymmetry in Financial Markets written by Ming Ying Lim and published by . This book was released on 2016 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation presents three sets of empirical tests focused on sources of information asymmetry in financial markets. Specifically it determines the impact of CEO narcissism on earnings management, the factors which influence the release of privileged information by market intermediaries and asymmetrical information access related to technological enhancements. The results in this dissertation address a number of gaps in existing literature, which are of relevance to academics, and provide valuable insights for regulators and market participants.
Book Synopsis The Statistical Theory of Linear Systems by : E. J. Hannan
Download or read book The Statistical Theory of Linear Systems written by E. J. Hannan and published by SIAM. This book was released on 2012-05-31 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published: New York: Wiley, c1988.
Book Synopsis An Empirical Examination of the Association Between Business Strategy and Earnings Management by : Dwight David McIntyre
Download or read book An Empirical Examination of the Association Between Business Strategy and Earnings Management written by Dwight David McIntyre and published by . This book was released on 2001 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Relation Between Earnings Management and Information Asymmetry : A Quantile Regression Approach by :
Download or read book Relation Between Earnings Management and Information Asymmetry : A Quantile Regression Approach written by and published by . This book was released on 2015 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Managerial Ownership and Informativeness of Accounting Numbers in a European Emerging Market by : Adriana Korczak
Download or read book Managerial Ownership and Informativeness of Accounting Numbers in a European Emerging Market written by Adriana Korczak and published by . This book was released on 2008 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an empirical investigation of the relationship between management ownership and information content of earnings and cash flows, in equity valuation. The study is based within a Polish emerging capital market, where the disclosure law is tailored to international standards but where ownership and control issues are still underdeveloped. The results demonstrate a connection between the level of managerial ownership and earnings with a view to determining stock returns. In contrast, an association of different levels of managerial ownership and cash flows is not supported by this investigation. Our evidence is consistent with the view that managers with no or with low voting power intend to build their good reputation and fulfil a duty of loyalty. However, when managers have significant voting power the entrenchment effect and information asymmetry appears. Furthermore, the findings of this study demonstrate superiority of earnings over cash flows in explaining stock returns.
Book Synopsis Earnings Management of Firms in Response to Price Regulation by : S. Lim
Download or read book Earnings Management of Firms in Response to Price Regulation written by S. Lim and published by . This book was released on 1996 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt:
