An Investigation of Firms' Earnings Management Practices Around Product Recalls

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (191 download)

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Book Synopsis An Investigation of Firms' Earnings Management Practices Around Product Recalls by : Zeeshan Ahmed

Download or read book An Investigation of Firms' Earnings Management Practices Around Product Recalls written by Zeeshan Ahmed and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the earnings management practices of firms around product recalls. In recent years, the management of earnings around firm-specific events has received considerable attention in the finance and accounting literature. New equity issues, mergers and acquisitions, share repurchases, and management buyouts are some events around which at least some firms have been shown to manage their earnings to achieve managements' objectives. Product recalls offer yet another interesting occasion when managers have incentives to cover up the true financial performance of their firms and mislead investors. In order to determine whether firms announcing product recalls manage earnings more aggressively than non-announcing firms, this study employs the cross-sectional version of the modified Jones (1991) model, as adapted by Teoh, Welch, and Wong (1998 a and b). In order to address the misspecification concern of the model, especially in the context of a performance-related event like product recall, we suggest a modification in the model. We show that the proposed change in the model not only better controls for event-specific working capital changes around recalls, it also increases the explanatory power of the model. Overall, our results suggest that managers tend to manage earnings upwards in quarters immediately preceding and following the recall announcement quarter. We also find weak evidence of downward earnings management in the quarter of recall. These results are in line with the predictions of theoretical models and the findings of past empirical studies in earnings management. The results of our research have important implications for investors and regulators.

AN INVESTIGATION OF FIRMS? EARNINGS MANAGEMENT PRACTICES AROUND PRODUCT RECALLS.

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Total Pages : pages
Book Rating : 4.:/5 (654 download)

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Book Synopsis AN INVESTIGATION OF FIRMS? EARNINGS MANAGEMENT PRACTICES AROUND PRODUCT RECALLS. by :

Download or read book AN INVESTIGATION OF FIRMS? EARNINGS MANAGEMENT PRACTICES AROUND PRODUCT RECALLS. written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the earnings management practices of firms around product recalls. In recent years, the management of earnings around firm-specific events has received considerable attention in the finance and accounting literature. New equity issues, mergers and acquisitions, share repurchases, and management buyouts are some events around which at least some firms have been shown to manage their earnings to achieve managements? objectives. Product recalls offer yet another interesting occasion when managers have incentives to cover up the true financial performance of their firms and mislead investors. In order to determine whether firms announcing product recalls manage earnings more aggressively than non-announcing firms, this study employs the cross-sectional version of the modified Jones (1991) model, as adapted by Teoh, Welch, and Wong (1998 a and b). In order to address the misspecification concern of the model, especially in the context of a performance-related event like product recall, we suggest a modification in the model. We show that the proposed change in the model not only better controls for event-specific working capital changes around recalls, it also increases the explanatory power of the model. Overall, our results suggest that managers tend to manage earnings upwards in quarters immediately preceding and following the recall announcement quarter. We also find weak evidence of downward earnings management in the quarter of recall. These results are in line with the predictions of theoretical models and the findings of past empirical studies in earnings management. The results of our research have important implications for investors and regulators.

Earnings Management

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Publisher : Springer Science & Business Media
ISBN 13 : 0387257691
Total Pages : 587 pages
Book Rating : 4.3/5 (872 download)

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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 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?

The Causes and Consequences of Product Recalls

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ISBN 13 :
Total Pages : 164 pages
Book Rating : 4.:/5 (113 download)

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Book Synopsis The Causes and Consequences of Product Recalls by : shafu zhang

Download or read book The Causes and Consequences of Product Recalls written by shafu zhang and published by . This book was released on 2018 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the chapter 2, I find that a CEO's characteristics will have direct impact on the occurrence of a firm's product recall. I also find that various corporate governances mechanisms can effectively mitigate/control the negative impact of CEO's characteristics on the likelihood of product recall events. For the chapter 3, I investigate the impact of PHC on firms' financial reporting policy. I find evidence that firms experiencing a product harm crisis engage in income-increasing earnings management, and the upward earning management is positively associated with the severity of the product harm crisis. Moreover, income-increasing earnings management is most prominent for crisis firms that produce durable goods, have industrial customers, and have CEOs who possess greater equity incentive and who are earlier in their tenure. Furthermore, upward earnings management helps firms retain major customers and reduces the propensity of a bonus cut and forced turnover for the CEO. For the chapter 4, I study debt market reaction to the announcements of recall firms. I find that banks charge 19% higher interest spreads on loans to recall firms after product recall announcements. In addition, banks monitor recall firms more closely by using tighter non-price terms I further find that the effects of product recall on debt contracting are more pronounced for firms with less independent board of directors, lower ex-ante ability to recover from product recalls, and with multiple product recalls. Taken as a whole, my findings suggest that banks, as informed stakeholders, generally perceive product recalls as a credit risk factor and react to this risk in debt contracting.

Earnings Management

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Publisher : Springer Science & Business Media
ISBN 13 : 0387257713
Total Pages : 587 pages
Book Rating : 4.3/5 (872 download)

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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?

Dissertation Abstracts International

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Publisher :
ISBN 13 :
Total Pages : 532 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Dissertation Abstracts International by :

Download or read book Dissertation Abstracts International written by and published by . This book was released on 2009-09 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Product Recalls

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (643 download)

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Book Synopsis Product Recalls by : Konstantina Kamariotou

Download or read book Product Recalls written by Konstantina Kamariotou and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Earnings Management Around Debt-Covenant Violations

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ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Earnings Management Around Debt-Covenant Violations by : Anand Jha

Download or read book Earnings Management Around Debt-Covenant Violations written by Anand Jha and published by . This book was released on 2013 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: I find that managers manage earnings upward in the quarters preceding a debt-covenant violation, but downward in the quarter a violation occurs. And they continue to manage earnings downward while the firm remains in violation. Because this scenario can play out within a year, the use of yearly data to examine the debt-covenant hypothesis can be problematic. Further analysis shows that the earnings management around the debt-covenant violation is also done to improve the manager's bargaining power in the renegotiation that follows the violation. Further, I find no evidence of excessive earnings management by high-debt firms to stave off a violation, but I do find evidence that the Sarbanes Oxley Act restrains managers from using accruals to stave off a violation. These results are based on examining 193,803 firm-quarters, 8,804 firms, and 2,035 new covenant violations spanning 1996 to 2007.

Management Control Systems

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Publisher : Pearson Education
ISBN 13 : 9780273708018
Total Pages : 876 pages
Book Rating : 4.7/5 (8 download)

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Book Synopsis Management Control Systems by : Kenneth A. Merchant

Download or read book Management Control Systems written by Kenneth A. Merchant and published by Pearson Education. This book was released on 2007 with total page 876 pages. Available in PDF, EPUB and Kindle. Book excerpt: With its unique range of case studies, real life examples and comprehensive coverage of the latest management control-related tools and techniques, Management Control Systems is the ideal guide to this complex and multidimensional subject for upper level undergraduates, postgraduates and practising professionals.

The Evolution of Corporate Disclosure

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Publisher : Springer Nature
ISBN 13 : 3030422992
Total Pages : 183 pages
Book Rating : 4.0/5 (34 download)

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Book Synopsis The Evolution of Corporate Disclosure by : Alessandro Ghio

Download or read book The Evolution of Corporate Disclosure written by Alessandro Ghio and published by Springer Nature. This book was released on 2020-04-02 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a critical analysis of the evolution of corporate disclosure. Building upon prior academic literature, it assesses the most important changes in mandatory corporate disclosure, the growing relevance of social and environmental disclosure, and revolutionary new forms of corporate communication, in particular social media. It also includes empirical analyses that shed further light on the impact of voluntary communication, i.e. social and environmental reporting and corporate social media communication, on managerial and investment decisions. Lastly, it discusses new directions for accounting and corporate governance research on the theoretical and empirical challenges of corporate disclosure. Offering a wealth of relevant and timely advice, the book will help regulators design policies that allow businesses to overcome current and emerging economic, social, and technological challenges.

The Handbook of Financial Communication and Investor Relations

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Publisher : John Wiley & Sons
ISBN 13 : 1119240808
Total Pages : 542 pages
Book Rating : 4.1/5 (192 download)

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Book Synopsis The Handbook of Financial Communication and Investor Relations by : Alexander V. Laskin

Download or read book The Handbook of Financial Communication and Investor Relations written by Alexander V. Laskin and published by John Wiley & Sons. This book was released on 2017-09-07 with total page 542 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book to offer a global look at the state-of-the-art thinking and practice in investor relations and financial communication Featuring contributions from leading scholars and practitioners in financial communication and related fields—including public relations, corporate communications, finance, and accounting— this volume in the critically acclaimed “Handbooks in Communication and Media” seriesprovides readers with a comprehensive, up-to-date picture of investor relations and financial communications as they are practiced in North America and around the world. The Handbook of Financial Communication and Investor Relations provides an overview of the past, present, and future of investor relations and financial communications as a profession. It identifies the central issues of contemporary investor relations and financial communications practice, including financial information versus non-financial information, intangibles, risk, value, and growth. Authors address key topics of concern to contemporary practitioners, such as socially responsible investing, corporate governance, shareholder activism, ethics, and professionalism. In addition, the book arms readers with metrics and proven techniques for reliably measuring and evaluating the effectiveness of investor relations and financial communications. Bringing together the most up-to-date research on investor relations and financial communication and the insights and expertise of an all-star team of practitioners, The Handbook of Financial Communication and Investor Relations: Explores how the profession is practiced in various regions of the globe, including North America, South America, Europe, the Middle East, India, Australia, and other areas Provides a unique look at financial communication as it is practiced beyond the corporate world, including in families, the medical profession, government, and the not-for-profit sector Addresses “big-picture” strategies as well as specific tactics for financial communication during crises, the use of social media, dealing with shareholder activism, integrated reporting and CSR, and more This book makes an ideal reference resource for undergrads and graduate students, scholars, and practitioners studying or researching investor relations and financial communication across schools of communication, journalism, business, and management. It also offers professionals an up-to-date, uniquely holistic look at best practices in financial communication investor relations worldwide.

Proceedings of the Fifteenth International Conference on Management Science and Engineering Management

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Publisher : Springer Nature
ISBN 13 : 3030792064
Total Pages : 871 pages
Book Rating : 4.0/5 (37 download)

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Book Synopsis Proceedings of the Fifteenth International Conference on Management Science and Engineering Management by : Jiuping Xu

Download or read book Proceedings of the Fifteenth International Conference on Management Science and Engineering Management written by Jiuping Xu and published by Springer Nature. This book was released on 2021-07-30 with total page 871 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book gathers the proceedings of the fifteenth International Conference on Management Science and Engineering Management (ICMSEM 2021) held on August 1-4, 2021, at the University of Castilla-La Mancha (UCLM), Toledo, Spain. The proceedings contains theoretical and practical research of decision support systems, complex systems, empirical studies, sustainable development, project management, and operation optimization, showing advanced management concepts and demonstrates substantial interdisciplinary developments in MSEM methods and practical applications. It allows researchers and practitioners in management science and engineering management (MSEM) to share their latest insights and contribution. Meanwhile, it appeals to readers interested in these areas, especially those looking for new ideas and research directions.

Accounting Choices in Family Firms

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Publisher : Springer
ISBN 13 : 3319735888
Total Pages : 276 pages
Book Rating : 4.3/5 (197 download)

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Book Synopsis Accounting Choices in Family Firms by : Silvia Ferramosca

Download or read book Accounting Choices in Family Firms written by Silvia Ferramosca and published by Springer. This book was released on 2018-03-13 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a critical analysis of the current state of knowledge on the relationship between family firms and a wide range of accounting choices, including earnings management, accounting conservatism, and financial and non-financial disclosure. In examining the choices made in family firms, the authors explore and elucidate the relevance of agency, socioemotional wealth, stewardship, and resource-based theories. Readers will also find close consideration of the impacts of a country’s culture and societal values on accounting choices. In particular, further evidence is provided on the impact of different cultures on accounting conservatism in family businesses. Finally, avenues for future accounting research on family firms are discussed, highlighting theoretical and empirical challenges. In addition to offering a revealing analysis of the influence of ownership types and cultures on accounting choices within family firms, the book identifies significant practical implications for the management of family firms and policy implications for regulators and standard setters.

The Statistical Theory of Linear Systems

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Publisher : SIAM
ISBN 13 : 1611972183
Total Pages : 418 pages
Book Rating : 4.6/5 (119 download)

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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.

The Oxford Handbook of Corporate Reputation

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Publisher : Oxford University Press, USA
ISBN 13 : 0199596700
Total Pages : 523 pages
Book Rating : 4.1/5 (995 download)

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Book Synopsis The Oxford Handbook of Corporate Reputation by : Michael L. Barnett

Download or read book The Oxford Handbook of Corporate Reputation written by Michael L. Barnett and published by Oxford University Press, USA. This book was released on 2012-07-19 with total page 523 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook offers a diverse set of scholarly perspectives on the nature of corporate reputation: what it is, where it comes from, and how it may be managed to create and protect corporate as well as societal value. Written and organized in an accessible way, it assesses the current state of the field and provides guidance for future research.

Handbook of Research on Waste Management Techniques for Sustainability

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Publisher : IGI Global
ISBN 13 : 1466697245
Total Pages : 465 pages
Book Rating : 4.4/5 (666 download)

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Book Synopsis Handbook of Research on Waste Management Techniques for Sustainability by : Akkucuk, Ulas

Download or read book Handbook of Research on Waste Management Techniques for Sustainability written by Akkucuk, Ulas and published by IGI Global. This book was released on 2015-12-03 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sustainability is a growing area of research in ecology, economics, environmental science, business, and cultural studies. Specifically, sustainable waste disposal and management is a growing concern as both solid and liquid wastes are rapidly expanding in direct correlation with population growth and improved economic conditions across regions. The Handbook of Research on Waste Management Techniques for Sustainability explores the topic of sustainable development in an era where domestic and municipal waste is becoming a concern for both human and environmental health. Highlighting a number of topics relating to pollution, green initiatives, and waste reduction in both the public and private sector, this research-based publication is designed for use by environmental scientists, business executives, researchers, graduate-level students, and policymakers seeking the latest information on sustainability in business, medicine, agriculture, and society.

Sales Promotion

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ISBN 13 :
Total Pages : 536 pages
Book Rating : 4.4/5 (91 download)

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Book Synopsis Sales Promotion by : Robert C. Blattberg

Download or read book Sales Promotion written by Robert C. Blattberg and published by . This book was released on 1990 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: