Earnings Quality And Ownership Structure

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Earnings Quality and Ownership Structure

Author : Sharon Katz
Publisher :
ISBN 13 :
Total Pages : 61 pages
Book Rating : 4.:/5 (244 download)

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Book Synopsis Earnings Quality and Ownership Structure by : Sharon Katz

Download or read book Earnings Quality and Ownership Structure written by Sharon Katz and published by . This book was released on 2008 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This study explores how firms' ownership structures affect their earnings quality and long-term performance. Focusing on a unique sample of private firms for which there is financial data available in the years before and after their initial public offering (IPO), I differentiate between those that have private equity sponsorship (PE-backed firms) and those that do not (non-PE-backed firms). The findings indicate that PE-backed firms generally have higher earnings quality than those that do not have PE sponsorship, engage less in earnings management and report more conservatively both before and after the IPO. Further, PE-backed firms that are majority-owned by PE sponsors exhibit superior long-term stock price performance after they go public. These results stem from the professional ownership, tighter monitoring, and reputational considerations exhibited by PE sponsors"--National Bureau of Economic Research web site

Earnings Quality and Ownership Structure

Author : Sharon P. Katz
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Earnings Quality and Ownership Structure by : Sharon P. Katz

Download or read book Earnings Quality and Ownership Structure written by Sharon P. Katz and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study explores how firms' ownership structures affect their earnings quality and long-term performance. Focusing on a unique sample of private firms for which there is financial data available in the years before and after their initial public offering (IPO), I differentiate between those that have private equity sponsorship (PE-backed firms) and those that do not (non-PE-backed firms). The findings indicate that PE-backed firms generally have higher earnings quality than those that do not have PE sponsorship, engage less in earnings management, and report more conservatively both before and after the IPO. Further, PE-backed firms that are majority-owned by PE sponsors exhibit superior long-term stock price performance after they go public. These results stem from the professional ownership, tighter monitoring, and reputational considerations exhibited by PE sponsors.

Earnings Quality

Author : Jennifer Francis
Publisher : Now Publishers Inc
ISBN 13 : 1601981147
Total Pages : 97 pages
Book Rating : 4.6/5 (19 download)

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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.

Corporate Governance and Initial Public Offerings

Author : Alessandro Zattoni
Publisher : Cambridge University Press
ISBN 13 : 1107379326
Total Pages : 613 pages
Book Rating : 4.1/5 (73 download)

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Book Synopsis Corporate Governance and Initial Public Offerings by : Alessandro Zattoni

Download or read book Corporate Governance and Initial Public Offerings written by Alessandro Zattoni and published by Cambridge University Press. This book was released on 2012-03-22 with total page 613 pages. Available in PDF, EPUB and Kindle. Book excerpt: Initial Public Offerings (IPOs) are unique economic and governance events as privately held firms issue common stock or shares to the public for the first time. The governance issues surrounding IPOs are relatively unexamined compared to more established, and usually larger, firms. As such, they provide a unique context to study corporate governance and its development around the world. Based on a collaborative international research project, this book analyses the corporate governance of IPOs in twenty-one countries, each of which is characterized by different governance environments and different levels of IPO activity. The end result is a broad and deep assessment of governance practices and IPO activity for an array of economies that represent roughly 80 percent of the global economy. These chapters collectively provide new insights into what a global theory of corporate governance might look like and offer guidance to policy makers and academics regarding national governance configurations.

Institutional Investors, Long-term Investment, and Earnings Management

Author : Brian J. Bushee
Publisher :
ISBN 13 :
Total Pages : 238 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Institutional Investors, Long-term Investment, and Earnings Management by : Brian J. Bushee

Download or read book Institutional Investors, Long-term Investment, and Earnings Management written by Brian J. Bushee and published by . This book was released on 1997 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the influence of institutional investors on the incentives of corporate managers to alter long-term investment for earnings management purposes. Many critics argue that the short-term focus of institutional investors encourages managers to sacrifice long-term investment to meet current earnings targets. Others argue that the large stockholdings and sophistication of institutions allow them to fulfill a monitoring role in preventing such myopicinvestment behavior. I examine these competing views by testing whether institutional ownership affects R&D spending for firms that could reverse a decline in earnings with a reduction in R&D. The results indicate that managers are less likely to cut R&D to reverse an earnings decline when institutional ownership is high, implying that institutions typically serve a monitoring role relative to individual investors. However, I find that a high proportion of ownership by institutions exhibiting "transient" ownership behavior (i.e., high portfolio turnover and momentum trading) significantly increases the probability that managers reduce R&D to boost earnings. These results indicate that high turnover and momentum trading by institutional investors can encourage myopic investment behavior when such institutional investors have extremely high levels of ownership in a firm; otherwise, institutional ownership serves to reduce pressures on managers for myopic investment behavior.

Ownership Structure, Earnings Quality and Market Assessment

Author : Radziah Abdul Latiff
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783843353670
Total Pages : 228 pages
Book Rating : 4.3/5 (536 download)

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Book Synopsis Ownership Structure, Earnings Quality and Market Assessment by : Radziah Abdul Latiff

Download or read book Ownership Structure, Earnings Quality and Market Assessment written by Radziah Abdul Latiff and published by LAP Lambert Academic Publishing. This book was released on 2010-10 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research is motivated by the move towards self- regulation for the Malaysian capital market. Against a background of companies' ownership structure that allegedly exacerbates the separation of ownership and control conflict, and that possibly limits transparency of information to the public, this research examines if such ownership structure leads to lower earnings quality. And if indeed the market is self-regulating this research examines if the market is assessing earnings quality and the elements of governance; ownership structure, audit committee and substantial shareholding, by requiring a certain return, the cost of equity, where accordingly these elements are perceived to be an information risk. There is a fairly strong evidence of market assessment of earnings quality and substantial shareholding, a market mechanism. However market seems to be indifferent with ownership structure and rule based monitoring, i.e. the audit committee. This finding has an important implication on the relative spending of resources by regulators on market and rule based mechanisms.

Capital Structure, Earnings Management, and Risk of Financial Distress

Author : Pietro Gottardo
Publisher : Springer
ISBN 13 : 3030003442
Total Pages : 103 pages
Book Rating : 4.0/5 (3 download)

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Book Synopsis Capital Structure, Earnings Management, and Risk of Financial Distress by : Pietro Gottardo

Download or read book Capital Structure, Earnings Management, and Risk of Financial Distress written by Pietro Gottardo and published by Springer. This book was released on 2018-09-24 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes the impacts that family control of firms has on capital structure choices, leverage and the risk of financial distress, earnings management practices, and the relation between accounting choices and firm market value. For these purposes, longitudinal data on Italian family and non-family non-financial firms are closely analyzed. The Italian setting is of special interest in this context because family businesses account for 94% of GDP, families are particularly committed to maintaining control of firms, and the economy is bank based rather than market based. The analyses draw on the socioemotional wealth approach, which emphasizes the importance of the stock of emotional value in family firms, in combination with financial theories such as Pecking Order Theory, Trade-off Theory, and Agency Theory. The findings cast significant new light on differences between family and non-family firms and the effects of different forms of family influence. The book will have broad appeal for academics, managers, practitioners, and policymakers.

Introduction to Earnings Management

Author : Malek El Diri
Publisher : Springer
ISBN 13 : 3319626868
Total Pages : 120 pages
Book Rating : 4.3/5 (196 download)

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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.

Earnings Management and Ownership Structure

Author : Timothy Cahill
Publisher :
ISBN 13 :
Total Pages : 113 pages
Book Rating : 4.:/5 (795 download)

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Book Synopsis Earnings Management and Ownership Structure by : Timothy Cahill

Download or read book Earnings Management and Ownership Structure written by Timothy Cahill and published by . This book was released on 2000 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Comparative Research on Earnings Management, Corporate Governance, and Economic Value

Author : Vieira, Elisabete S.
Publisher : IGI Global
ISBN 13 : 1799875989
Total Pages : 433 pages
Book Rating : 4.7/5 (998 download)

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Book Synopsis Comparative Research on Earnings Management, Corporate Governance, and Economic Value by : Vieira, Elisabete S.

Download or read book Comparative Research on Earnings Management, Corporate Governance, and Economic Value written by Vieira, Elisabete S. and published by IGI Global. This book was released on 2021-02-12 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: New trends are emerging regarding earnings management and corporate governance showing similarities and striking differences in the practices of different countries and economies. These new trends currently shape the field of modern corporate governance with crucial issues being looked at in governance law and practices, accounting systems, earnings quality and management, stakeholder involvement, and more. In order to advance these new avenues in corporate governance, research looks at accounting policies firms use in different opportunistic circumstances in order to manage earnings, the corporate governance practices in different countries, firm performance, and other dimensions of companies. The understanding of these topics is beneficial in understanding the current state of different types of firms and their practices in modern times. Comparative Research on Earnings Management, Corporate Governance, and Economic Value is focused on the investigation of key challenges and perspectives of corporate governance and earnings management and outlines possible scenarios of its development. The chapters explore this new avenue of research and cover theoretical, empirical, and experimental studies related to different themes in the global context of earnings management and corporate governance. This book is ideal for economists, businesses, managers, accountants, practitioners, stakeholders, researchers, academicians, and students who are interested in the current issues and advancements in corporate governance and earnings management.

Earnings Management

Author : Joshua Ronen
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?

Ownership Structure and Real Earnings Management

Author : Nanyan Dong
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Ownership Structure and Real Earnings Management by : Nanyan Dong

Download or read book Ownership Structure and Real Earnings Management written by Nanyan Dong and published by . This book was released on 2020 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although ownership structure is fundamental to corporate accounting behaviors, the current literature provides scarce evidence about the governance effect of ownership structure on real earnings management (REM). We seek to address this issue by using a sample of Chinese listed firms which are likely to engage in earnings management during 2003-2014. We find that Chinese firms with more influential largest shareholders are more prone to REM; and that firms with state control and managerial ownership are less likely to engage in REM. We further find that there exists a joint and sequential relationship between REM and accrual-based earnings management in China. Our findings are robust to different variable measurements, samples and regression models. Our study contributes to the research on the relationship between ownership structure and earnings management and contributes to the understanding of REM in emerging economies. Our findings have significant implications for shareholders, analysts and regulators, and are important and relevant given that MSCI decides to include China mainland stocks in its indexes starting 2018.

Capital Choices

Author : Michael E. Porter
Publisher :
ISBN 13 : 9780071034272
Total Pages : pages
Book Rating : 4.0/5 (342 download)

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Book Synopsis Capital Choices by : Michael E. Porter

Download or read book Capital Choices written by Michael E. Porter and published by . This book was released on 1994-12-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Influence of Institutional Ownership on Earnings Quality

Author : Abdul Wahab Latif
Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Influence of Institutional Ownership on Earnings Quality by : Abdul Wahab Latif

Download or read book Influence of Institutional Ownership on Earnings Quality written by Abdul Wahab Latif and published by . This book was released on 2018 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior studies have shown that ownership structure of firms affects their performance, decision making and earnings. Studies have found that institutional owners are well informed, organized and proactive as compared to other owners. In this study we empirically examined the impact of institutional ownership on earnings quality for the listed firms of the Pakistan Stock Exchange (PSX). The data of 200 non-financial listed firms from 2002 to 2014 is collected for this study. The conceptual framework of Financial Accounting Standards Board (FASB, 1980) is used to measure the earnings quality. The four dimensions of earnings quality studied are: predictive value, neutrality, timeliness and representational faithfulness. Results showed institutional ownership is positively related with earnings quality. Moreover, a greater level of institutional shareholding brings more oversight and enhances earnings quality.

Corporate Governance and Its Implications on Accounting and Finance

Author : Alqatan, Ahmad
Publisher : IGI Global
ISBN 13 : 1799848531
Total Pages : 425 pages
Book Rating : 4.7/5 (998 download)

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Book Synopsis Corporate Governance and Its Implications on Accounting and Finance by : Alqatan, Ahmad

Download or read book Corporate Governance and Its Implications on Accounting and Finance written by Alqatan, Ahmad and published by IGI Global. This book was released on 2020-09-25 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the global financial crisis, the topic of corporate governance has been gaining momentum in accounting and finance literature since it may influence firm and bank management in many countries. Corporate Governance and Its Implications on Accounting and Finance provides emerging research exploring the implications of a good corporate governance system after global financial crises. Corporate governance mechanisms may include board and audit committee characteristics, ownership structure, and internal and external auditing. This book is devoted to all topics dealing with corporate governance including corporate governance characteristics, board diversity, CSR, big data governance, bitcoin governance, IT governance, and governance disclosure, and is ideally designed for executives, BODs, financial analysts, government officials, researchers, policymakers, academicians, and students.

Ownership Structure and Characteristics of Earnings

Author : Soongsoo Han
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)

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Book Synopsis Ownership Structure and Characteristics of Earnings by : Soongsoo Han

Download or read book Ownership Structure and Characteristics of Earnings written by Soongsoo Han and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Research in Accounting in Emerging Economies

Author : Shahzad Uddin
Publisher : Emerald Group Publishing
ISBN 13 : 0857244515
Total Pages : 310 pages
Book Rating : 4.8/5 (572 download)

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Book Synopsis Research in Accounting in Emerging Economies by : Shahzad Uddin

Download or read book Research in Accounting in Emerging Economies written by Shahzad Uddin and published by Emerald Group Publishing. This book was released on 2010-12-02 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes research papers that examines various issues including the adoption of International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSASs), management accounting change in the context of public sector reforms, corporate reporting disclosures, auditing, etcetera.