Quality Of Financial Reporting Choice

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Quality of Financial Reporting Choice

Author : Daniel A. Cohen
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Quality of Financial Reporting Choice by : Daniel A. Cohen

Download or read book Quality of Financial Reporting Choice written by Daniel A. Cohen and published by . This book was released on 2008 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: I investigate the determinants and economic consequences associated with firms' financial reporting choices. Recognizing the endogeneity associated with these choices, I find evidence of a positive association between investors' demands for firm-specific information and financial reporting quality. I also find that higher proprietary costs are associated with a lower quality of financial information. As for the economic consequences, the evidence suggests that firms with high quality financial reporting policies have reduced information asymmetries. However, after accounting for the endogeneity associated with the reporting quality choice, I find no significant evidence that firms choosing to provide financial information of higher quality enjoy a lower cost of equity capital. These results demonstrate the importance of explicitly modeling the endogeneity of financial reporting choices in investigating the associated economic consequences.

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.

Earnings Quality

Author : Elisa Menicucci
Publisher : Springer Nature
ISBN 13 : 3030367983
Total Pages : 154 pages
Book Rating : 4.0/5 (33 download)

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Book Synopsis Earnings Quality by : Elisa Menicucci

Download or read book Earnings Quality written by Elisa Menicucci and published by Springer Nature. This book was released on 2019-12-21 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an overview of earnings quality (EQ) in the context of financial reporting and offers suggestions for defining and measuring it. Although EQ has received increasing attention from investors, creditors, regulators, and researchers in different areas, there are various definitions of it and different approaches for its measurement. The book describes the relationship between EQ and earnings management (EM) since they can be considered related challenges, especially in the context of international financial reporting standards (IAS/IFRSs). EM occurs when managers make discretionary accounting choices that are regarded as either an efficient communication of private information to improve the informativeness of a firm’s current and future performance, or a distorting disclosure to mislead the firm’s true performance. The intentional manipulation of earnings by managers, within the limits allowed by the accounting standards, may alter the usefulness of financial reporting and lead to lower quality of earnings. The use of fair value in financial reporting has created a current debate about the impact it might have on EQ. At times, the high subjectivity in estimating fair value can allow opportunities for the exercise of management judgments and intentional bias, which can reduce the quality of financial reporting. Management discretion can result in high EM and hence in a reduction of EQ. Particularly during difficult financial periods, managers engage in EM to mask the negative effects of the turmoil, and in such circumstances accruals and earnings smoothing are attempts to reduce abnormal variations of earnings in such circumstances. This book is a valuable resource for those interested in wider perspectives on EQ and it adds to the research studies on this topic in the context of financial reporting.

Quality Financial Reporting

Author : Paul B. W. Miller
Publisher : McGraw Hill Professional
ISBN 13 : 9780071387422
Total Pages : 372 pages
Book Rating : 4.3/5 (874 download)

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Book Synopsis Quality Financial Reporting by : Paul B. W. Miller

Download or read book Quality Financial Reporting written by Paul B. W. Miller and published by McGraw Hill Professional. This book was released on 2002 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text presents the concepts, principles and strategies of reporting financial and accounting information. It takes a practical approach to understanding financial reporting, why it is important and how to create and analyze financial reports so that the value of the company is clearly reported.

Earnings Management and Corporate Finance

Author : Joanna Lizińska
Publisher : Taylor & Francis
ISBN 13 : 1040104150
Total Pages : 235 pages
Book Rating : 4.0/5 (41 download)

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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.

Cherry Picking, Financial Reporting Quality, and Comprehensive Income Reporting Choices

Author : Yen-Jung Lee
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Cherry Picking, Financial Reporting Quality, and Comprehensive Income Reporting Choices by : Yen-Jung Lee

Download or read book Cherry Picking, Financial Reporting Quality, and Comprehensive Income Reporting Choices written by Yen-Jung Lee and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Accounting Standard No. 130 "Reporting Comprehensive Income" encourages enterprises to report comprehensive income on a performance statement rather than on a statement of equity. We investigate the reporting decisions of 82 publicly traded property-liability insurers, which are fairly evenly split in their choice. We find that insurers with a tendency to manage earnings through realized securities' gains and losses (i.e., cherry pickers), as well as insurers with a reputation for poor financial reporting quality, are more likely to bury comprehensive income in a statement of equity. Apparently, these insurers face the highest cost of transparency. Our findings that insurers' comprehensive income reporting choices are a reflection of their proclivity toward cherry picking as well as their level of financial reporting quality should be of interest to standard setters because of the controversy over standard setters' preference for mandating all firms to report comprehensive income in a performance statement.

Accounting Choices in Family Firms

Author : Silvia Ferramosca
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.

Research, Standard Setting, and Global Financial Reporting

Author : Mary E. Barth
Publisher : Now Publishers Inc
ISBN 13 : 1601980086
Total Pages : 109 pages
Book Rating : 4.6/5 (19 download)

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Book Synopsis Research, Standard Setting, and Global Financial Reporting by : Mary E. Barth

Download or read book Research, Standard Setting, and Global Financial Reporting written by Mary E. Barth and published by Now Publishers Inc. This book was released on 2007 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research, Standard Setting, and Global Financial Reporting aids researchers in conducting research relevant to global financial reporting issues, particularly those of interest to financial reporting standard setters. Research, Standard Setting, and Global Financial Reporting describes the relation between research and standard-setting issues; explains how a variety of research designs can be used to address questions motivated by standard-setting issues, including valuation research and event studies; offers examples of research addressing a specific global standard-setting issue - use of fair value in measuring accounting amounts; offers further opportunities for future research on specific standard-setting topics by providing motivating questions relating to the major topics on the agendas of the FASB and IASB; explains how the IASB aims to achieve its mission of developing a single set of high quality accounting standards that are accepted worldwide; summarizes extant evidence on the relative quality of accounting amounts across global standard-setting regimes and whether global financial reporting is achievable or even desirable. Research, Standard Setting, and Global Financial Reporting examines opportunities for future research on issues related to globalization of financial reporting by identifying motivating questions that are potentially avenues for future research.

International Financial Reporting Standards and New Directions in Earnings Management

Author : Oliveira, Jonas da Silva
Publisher : IGI Global
ISBN 13 : 1522578188
Total Pages : 342 pages
Book Rating : 4.5/5 (225 download)

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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.

Financial Reporting Quality and Proprietary Costs

Author : Daniel A. Cohen
Publisher :
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Financial Reporting Quality and Proprietary Costs by : Daniel A. Cohen

Download or read book Financial Reporting Quality and Proprietary Costs written by Daniel A. Cohen and published by . This book was released on 2008 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the association between proprietary costs and the quality of financial reporting. Interpreting a firm's financial reporting policy as a choice of precision (quot;qualityquot;) for the disclosed accounting earnings, I find evidence that the higher the proprietary costs, the lower the precision (quot;qualityquot;) of reported accounting earnings. This is consistent with analytical work in disclosure theory which suggests that, ceteris paribus, as the proprietary cost of disclosure increases, the quality of disclosure decreases.

Cases in Financial Reporting

Author : D. Eric Hirst
Publisher :
ISBN 13 :
Total Pages : 322 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Cases in Financial Reporting by : D. Eric Hirst

Download or read book Cases in Financial Reporting written by D. Eric Hirst and published by . This book was released on 2006 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: A text for intermediate and financial accounting courses at the MBA and undergraduate level, or a supplement to financial statement analysis texts. This collection of financial accounting cases is designed to help students become financial statement users.

US-Listed Foreign Companies' Choice of a US-Based Versus Home Country-Based Big N Principal Auditor and the Effect on Audit Fees and Earnings Quality

Download US-Listed Foreign Companies' Choice of a US-Based Versus Home Country-Based Big N Principal Auditor and the Effect on Audit Fees and Earnings Quality PDF Online Free

Author : Sharad Asthana
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis US-Listed Foreign Companies' Choice of a US-Based Versus Home Country-Based Big N Principal Auditor and the Effect on Audit Fees and Earnings Quality by : Sharad Asthana

Download or read book US-Listed Foreign Companies' Choice of a US-Based Versus Home Country-Based Big N Principal Auditor and the Effect on Audit Fees and Earnings Quality written by Sharad Asthana and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine why U.S.-listed foreign companies choose to have a U.S.-based (rather than home country-based) Big N firm as their principal auditor for SEC reporting purposes and the effects of that choice for audit fees and earnings quality. We find that the likelihood of the Big N principal auditor being U.S.-based is decreasing in client size and the level of investor protection in the home country, and increasing in the proportion of income earned outside the home country. We also find compelling evidence that U.S.-based Big N auditors are associated with higher-quality earnings (albeit for a higher fee), despite two factors -- the greater distance between the U.S.-based (vis-à-vis home country-based) Big N auditor and the client, and the likelihood that much of the audit work is done outside the U.S. -- which potentially could lower the earnings quality of the U.S.-listed foreign client when the Big N principal auditor is U.S.-based. Overall, our study suggests that the higher fees associated with a U.S.-based Big N principal auditor is not just price protection; rather, U.S.-based Big N principal auditors are also improving the financial reporting environment by reporting higher-quality audited earnings for their U.S.-listed foreign clients.

Financial Reporting and Disclosure Quality, and Emerging Market Companies' Access to Capital in Global Markets

Author : Carol Ann Frost
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Financial Reporting and Disclosure Quality, and Emerging Market Companies' Access to Capital in Global Markets by : Carol Ann Frost

Download or read book Financial Reporting and Disclosure Quality, and Emerging Market Companies' Access to Capital in Global Markets written by Carol Ann Frost and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines how five financial reporting and disclosure quality proxies are related to emerging markets (EM) firms' cross-listing choices and their access to the global capital market. Our five financial reporting and disclosure quality proxies are transparency of the annual report, global vs. local auditor, global vs. local GAAP, translation of the annual report into English, and voluntary dissemination of information through websites. We first ask whether this set of proxies reflects a single (or two) underlying financial reporting quality constructs using a principal components factor analysis. We find that the proxies are sufficiently distinct to escape parsimonious description as a single construct. This result suggests that EM firms pick and choose from among alternatives to enhance their financial reporting and disclosure quality, rather than moving from low quality to high quality on all dimensions simultaneously. We next document the relations among our reporting and disclosure proxies and EM firms' decisions to be listed or traded in U.S. and U.K. capital markets, after controlling for factors we expected to be associated with firms' cross-listing decisions. Evidence in prior research leaves open the question of the endogeneity of cross-listing and financial reporting and disclosure quality. We find evidence of a strong association between each of our five proxies and EM firms' participation in U.S. and U.K. capital markets, but the variation in the five proxies (plus the controls) explains only about 40% of the variation in firms' cross-listing patterns. This result is important because it suggests that EM firms view being listed or traded in the U.S. or the U.K. as a substitute rather than a complement to enhanced financial reporting and disclosure quality. Finally, we find the reporting and disclosure proxies are not significantly correlated with the amount of debt and equity capital raised in global markets, after controlling for the effects of cross-listing in the U.S. and the U.K. and other control variables. In contrast, firms' cross-listing choices are strongly correlated with amount of capital raised. From this evidence we conclude that, consistent with the bonding hypothesis, EM firms' presence in U.S. and U.K. capital markets is a more important factor in their ability to raise capital than are their financial reporting and disclosure quality choices.

Line-Item Analysis of Earnings Quality

Author : Melumad Nahum
Publisher : Now Publishers Inc
ISBN 13 : 1601982127
Total Pages : 159 pages
Book Rating : 4.6/5 (19 download)

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Book Synopsis Line-Item Analysis of Earnings Quality by : Melumad Nahum

Download or read book Line-Item Analysis of Earnings Quality written by Melumad Nahum and published by Now Publishers Inc. This book was released on 2009 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: Line-Item Analysis of Earnings Quality provides a comprehensive summary and analysis of the specific earnings quality issues pertaining to key line item components of the financial statements. After providing an overview of earnings quality and earnings management, Line-Item Analysis of Earnings Quality analyzes key line items from the financial statements. For each key line item, the authors: review accounting principles; discuss implications for earnings quality; evaluate the susceptibility of the item to manipulation; describe analyses and red flags which may inform on the item's quality. Line-Item Analysis of Earnings Quality will prove useful in conducting fundamental and contextual analyses through its analysis and evaluations.

US-listed Foreign Companies' Choice of a US-based Vs. Home Country-based Big N Principal Auditor and the Effect on Audit Fees and Earnings Quality

Download US-listed Foreign Companies' Choice of a US-based Vs. Home Country-based Big N Principal Auditor and the Effect on Audit Fees and Earnings Quality PDF Online Free

Author : Sharad Asthana
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis US-listed Foreign Companies' Choice of a US-based Vs. Home Country-based Big N Principal Auditor and the Effect on Audit Fees and Earnings Quality by : Sharad Asthana

Download or read book US-listed Foreign Companies' Choice of a US-based Vs. Home Country-based Big N Principal Auditor and the Effect on Audit Fees and Earnings Quality written by Sharad Asthana and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine why US-listed foreign companies choose to have a US-based (rather than home country-based) Big N firm as their principal auditor for SEC reporting purposes and the effects of that choice for audit fees and earnings quality. We find that the likelihood of the Big N principal auditor being US-based is decreasing in client size and the level of investor protection in the home country, and increasing in the proportion of income earned outside the home country. We also find compelling evidence that US-based Big N auditors are associated with higher quality earnings (albeit for a higher fee), despite two factors - the greater distance between the US-based (vis-à-vis home country-based) Big N auditor and the client, and the likelihood that much of the audit work is done outside the US - which potentially could lower the earnings quality of the US-listed foreign client when the Big N principal auditor is US-based. Overall, our study suggests that the higher fees associated with a US-based Big N principal auditor is not just price protection; rather, US-based Big N principal auditors are also improving the financial reporting environment by reporting higher quality audited earnings for their US-listed foreign clients.

The Financial Reporting Quality, Choice of Payment and Due Diligence Auditor in M&As

Author : Jie Tang
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (17 download)

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Book Synopsis The Financial Reporting Quality, Choice of Payment and Due Diligence Auditor in M&As by : Jie Tang

Download or read book The Financial Reporting Quality, Choice of Payment and Due Diligence Auditor in M&As written by Jie Tang and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

More Accounting Changes

Author : Robert Herz
Publisher : Emerald Group Publishing
ISBN 13 : 1786356295
Total Pages : 466 pages
Book Rating : 4.7/5 (863 download)

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Book Synopsis More Accounting Changes by : Robert Herz

Download or read book More Accounting Changes written by Robert Herz and published by Emerald Group Publishing. This book was released on 2016-09-12 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, More Accounting Changes, is a revised and updated edition of Herz’s earlier work, reflecting: developments in financial reporting; global developments regarding the use of International Financial Reporting Standards; current efforts at disclosure modernization and simplification by the SEC and FASB; and more developments in the field.