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Diversification Strategy And Earnings Management
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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 Diversification Strategy as a Determinant of the Earnings Persistence of U.S. Multinational Firms by : Ahmed Riahi-Belkaoui
Download or read book Diversification Strategy as a Determinant of the Earnings Persistence of U.S. Multinational Firms written by Ahmed Riahi-Belkaoui and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study tests the relationship between diversification strategy and earnings persistence provided by Autoregressive, Integrative, Moving Average (ARIMA) models. When higher-order ARIMA models are used, this study shows the earnings persistence of U.S. Multinational firms to be positively related to size, related diversification and vertical integration, and negatively related to unrelated diversification.
Book Synopsis Social Change in Complex Organizations by : Jerald Hage
Download or read book Social Change in Complex Organizations written by Jerald Hage and published by Random House Trade. This book was released on 1970 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Diversification Strategy by : Graham Kenny
Download or read book Diversification Strategy written by Graham Kenny and published by Kogan Page Publishers. This book was released on 2009-08-03 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diversified organizations are everywhere - in the private, public and not-for-profit sectors. With diversification comes complication, and if the varied activities of these organizations are not carried out effectively, their very diversity can lead to major inefficiency at best and corporate failure at worst. Diversification Strategy challenges conventional wisdom and establishes a blueprint for successfully managing diversification. Using illuminating case studies such as General Electric, Wesfarmers, Bidvest, ITC and Burns Philip - it analyses the whole process in detail, and describes the seven characteristics of successful diversifiers. Through examining what successful and unsuccessful diversifiers do, as well as the effective practices of focused firms, it provides best-practice guidance for successfully managing diversified organizations and the business units within them. Whether private sector, public sector or not-for-profit, all organizations will all benefit from understanding and applying the principles outlined in this indispensible guide to diversification strategy.
Book Synopsis Corporate Management of Diversified Companies - Information Demand and Information Processing by : Nicolas Rabener
Download or read book Corporate Management of Diversified Companies - Information Demand and Information Processing written by Nicolas Rabener and published by diplom.de. This book was released on 2005-08-18 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Abstract: The ultimate management challenge is said to be the management of a conglomerate. Diversified companies, especially conglomerates, are complex organisations that in the larger cases resemble full-blown economies, rather than firms. They develop internal capital markets with billion dollar budgets, enormous internal labour markets, and often a decent amount of bureaucracy. The International Telephone and Telegraph Corporation (ITT) owned more than 150 businesses in the 1960s, ranging from electronics to insurance companies, with operations across the globe. The architect of ITT, Harold Greneen, once acquired 20 unrelated business in a single month and was strongly convinced that sound management principles could be applied to any type of business. He believed that information was key to good management. During his reign earnings increased a 100 consecutive quarters and seemed to support this management belief. In the late 1960s, earnings did not increase any longer and the stock price lost significantly in value. By the early 1980s the company was already heavily involved in deconglomeration and had divested more than a 100 businesses. ITT was not the only diversified company in the 1980s that was on the search for focus. The conglomerate strategy went out of fashion with investors, due to poor performance associated with this strategy. The result was a conglomerate discount of an average 15 percent on the stock market that persists until today. Despite this investor aversion, some companies continued the conglomerate path and managed to be highly successful at the same time. General Electric has a broad product portfolio, which contains electronics and insurance businesses, too, and is currently the most valuable company in the world in terms of market capitalisation. Warren Buffet s Berkshire Hathaway, Citigroup or Virgin are diversified as well and have created substantial value for their owners. These and other successful diversifiers have mastered managing the diversified company. Diversification has been studied in strategic management, finance, economics, organisations theory and other subjects. Each of these subjects views the duties of corporate management of a diversified company slightly different. Combining the views yields an integrated approach for managing a diversified company. First is the management of the corporate portfolio that includes a selection of businesses that are desired and a continuous [...]
Book Synopsis Investment Management by : Robert L. Hagin
Download or read book Investment Management written by Robert L. Hagin and published by John Wiley & Sons. This book was released on 2004-02-01 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new look at the important issue of investment management in the 21st century Written for professional and private investors-as well as fiduciaries who rely on investment professionals-this book presents the content of an advanced investment-management course in an easy-to-read, question-and-answer format. Robert L. Hagin (Haverford, PA) is a 30-year investment management veteran who recently retired as Executive Director for Morgan Stanley Investment Management.
Book Synopsis Activity Strategies, Information Asymmetry, and Bank Opacity by : Dung Tran
Download or read book Activity Strategies, Information Asymmetry, and Bank Opacity written by Dung Tran and published by . This book was released on 2018 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a large panel of US bank holding companies from 2001 to 2015, we investigate the association between functional diversification and bank earnings management. We document a positive relationship between bank earnings management and bank diversification. Our findings are consistent with the hypothesis that diversification increases the asymmetric information of banks, leading to greater discretionary power by bank managers. This effect is most prevalent in smaller banks and non-dividend paying banks. The impact of diversification on earnings management is less pronounced during the crisis. Our study is of interest to regulators and other stakeholders who examine factors which affect behavior of bank managers.
Book Synopsis The Domestic Diversifying Acquisition Decision by : John Paul Dory
Download or read book The Domestic Diversifying Acquisition Decision written by John Paul Dory and published by . This book was released on 1978 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Strategy, Structure, and Economic Performance by : Richard P. Rumelt
Download or read book Strategy, Structure, and Economic Performance written by Richard P. Rumelt and published by Harvard Business Review Press. This book was released on 1986 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 The Risky Business of Diversification by : Ralph Biggadike
Download or read book The Risky Business of Diversification written by Ralph Biggadike and published by . This book was released on 1979-01-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Oxford Handbook of Strategy by : David O. Faulkner
Download or read book The Oxford Handbook of Strategy written by David O. Faulkner and published by Oxford University Press. This book was released on 2006-04-06 with total page 1062 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents an analysis of how thinking on strategy has evolved and what are the likely developments. This work includes chapters on six key areas: Approaches to Strategy, Strategic Analysis and Formulation, Corporate Strategy; International Strategy; Strategies of Organizational Change; and Strategic Flexibility and Uncertainty.
Book Synopsis The Coinsurance Effect of Corporate Diversification by : Dominik Nußmann
Download or read book The Coinsurance Effect of Corporate Diversification written by Dominik Nußmann and published by Springer. This book was released on 2017-08-22 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dominik Nußmann comprehensively analyzes the coinsurance effect of corporate diversification by first providing a structured review of all relevant findings presented in the financial economics and accounting literature. Based on this review, he examines important accounting and economic implications of the coinsurance effect by means of two comprehensive empirical analyses. In particular, he finds that diversified firms benefit from coinsurance through financial as well as accounting synergies which entail considerable value-enhancing potentials.
Book Synopsis Advances in Quantitative Analysis of Finance and Accounting (New Series) Vol．16 by : Cheng F. Lee
Download or read book Advances in Quantitative Analysis of Finance and Accounting (New Series) Vol．16 written by Cheng F. Lee and published by Center for PBBEFR & Ainosco Press. This book was released on 2018-01-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in Quantitative Analysis of Finance and Accounting (New Series) is an annual publication designed to disseminate developments in the quantitative analysis of finance and accounting. The publication is a forum for statistical and quantitative analyses of issues in finance and accounting as well as applications of quantitative methods to problems in financial management, financial accounting, and business management. The objective is to promote interaction between academic research in finance and accounting and applied research in the financial community and the accounting profession.
Book Synopsis Financial Management Excellence: Strategies for Sustainable Growth by : Dr Nidhi Srivastava
Download or read book Financial Management Excellence: Strategies for Sustainable Growth written by Dr Nidhi Srivastava and published by Inkbound Publishers. This book was released on 2022-10-08 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt: Achieve sustainable growth with excellence in financial management. This book covers essential strategies and practices for managing finances effectively, making it a valuable resource for financial professionals and business leaders.
Book Synopsis The Oxford Handbook of Strategy by : David Faulkner
Download or read book The Oxford Handbook of Strategy written by David Faulkner and published by Oxford University Press. This book was released on 2003-02-13 with total page 548 pages. Available in PDF, EPUB and Kindle. Book excerpt: This two-volume handbook presents an authoritative and up-to-date analysis of how thinking on strategy has evolved and what are the likely developments in the near future. All the contributors are experts in their area, and bring to the topic an understanding informed by many years' experience of research, teaching, and practice. Volume One focuses on two major areas: first, the various different approaches to strategy, and secondly, the development of competitive or business unit strategy, where the pursuit of sustainable competitive advantage is the key objective.
Book Synopsis International Financial Reporting Standards and New Directions in Earnings Management by : Oliveira, Jonas da Silva
Download or read book International Financial Reporting Standards and New Directions in Earnings Management written by Oliveira, Jonas da Silva and published by IGI Global. This book was released on 2019-03-22 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fiscal market is an unpredictable torrent of information that modern organizations strive to understand. Business professionals dedicate themselves to understanding uncertain results around economic performance to improve management, reporting standards, and predict trends in financial statements. International Financial Reporting Standards and New Directions in Earnings Management is an essential reference source that discusses identifying the behavioral patterns of managers and the accounting policies they use in different opportunistic circumstances. Featuring research on topics such as earnings quality, risk reports, and investor protection, this book is ideal for regulatory authorities, accountants, impression managers, auditors, academics, students, and researchers seeking coverage on the theoretical, empirical, and experimental studies that relate to the different themes within earnings management.
