The Impact Of Corporate Governance Code On Earnings Management In Listed Non Financial Firms

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The Impact of Corporate Governance Code on Earnings Management in Listed Non-Financial Firms

Author : Erick Rading Outa
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Impact of Corporate Governance Code on Earnings Management in Listed Non-Financial Firms by : Erick Rading Outa

Download or read book The Impact of Corporate Governance Code on Earnings Management in Listed Non-Financial Firms written by Erick Rading Outa and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Purpose - The purpose of this paper is to examine whether voluntary corporate governance (CG) code issued in 2002 constrain earnings management (EM) among listed non-finance companies in Kenya.Design/methodology/approach - Using a panel data of 338-firm year's observations between 2005 and 2014, the authors test the hypothesis that CG constrains EM in non-finance firms listed in Kenya. The authors regress discretionary accruals (DA) against a developed Corporate Governance Index (CGI).Findings - The overall results show that DA is not significantly related to CG suggesting the voluntary CG code does not deter EM in non-finance companies in Kenya.Practical implications - Evidence of income decreasing/increasing accruals implies EM still exists among the listed firms. This suggests that policymakers may need to consider radical actions including alternative or new CG approaches and new institutions to improve the effectiveness of CG.Originality/value - This study extends existing studies by including composite CG as possible explanatory variable for constraining EM. The authors contribute to the debate by demonstrating that the voluntary CG code in Kenya is not effective in constraining DA and therefore the current initiatives by the regulator to change the current CG code are appropriately directed.

Corporate Payout Policy

Author : Harry DeAngelo
Publisher : Now Publishers Inc
ISBN 13 : 1601982046
Total Pages : 215 pages
Book Rating : 4.6/5 (19 download)

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Book Synopsis Corporate Payout Policy by : Harry DeAngelo

Download or read book Corporate Payout Policy written by Harry DeAngelo and published by Now Publishers Inc. This book was released on 2009 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Payout Policy synthesizes the academic research on payout policy and explains "how much, when, and how". That is (i) the overall value of payouts over the life of the enterprise, (ii) the time profile of a firm's payouts across periods, and (iii) the form of those payouts. The authors conclude that today's theory does a good job of explaining the general features of corporate payout policies, but some important gaps remain. So while our emphasis is to clarify "what we know" about payout policy, the authors also identify a number of interesting unresolved questions for future research. Corporate Payout Policy discusses potential influences on corporate payout policy including managerial use of payouts to signal future earnings to outside investors, individuals' behavioral biases that lead to sentiment-based demands for distributions, the desire of large block stockholders to maintain corporate control, and personal tax incentives to defer payouts. The authors highlight four important "carry-away" points: the literature's focus on whether repurchases will (or should) drive out dividends is misplaced because it implicitly assumes that a single payout vehicle is optimal; extant empirical evidence is strongly incompatible with the notion that the primary purpose of dividends is to signal managers' views of future earnings to outside investors; over-confidence on the part of managers is potentially a first-order determinant of payout policy because it induces them to over-retain resources to invest in dubious projects and so behavioral biases may, in fact, turn out to be more important than agency costs in explaining why investors pressure firms to accelerate payouts; the influence of controlling stockholders on payout policy --- particularly in non-U.S. firms, where controlling stockholders are common --- is a promising area for future research. Corporate Payout Policy is required reading for both researchers and practitioners interested in understanding this central topic in corporate finance and governance.

The Impact of Corporate Governance and Firm Specific Characteristics on Earnings Management of Listed Firms in Switzerland

Author : Katarina Svilar
Publisher :
ISBN 13 :
Total Pages : 120 pages
Book Rating : 4.:/5 (14 download)

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Book Synopsis The Impact of Corporate Governance and Firm Specific Characteristics on Earnings Management of Listed Firms in Switzerland by : Katarina Svilar

Download or read book The Impact of Corporate Governance and Firm Specific Characteristics on Earnings Management of Listed Firms in Switzerland written by Katarina Svilar and published by . This book was released on 2017 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Earnings Management and Corporate Governance. An Investigation of Financial Statement Reporting of Publicly Listed Companies in Nigeria

Download Earnings Management and Corporate Governance. An Investigation of Financial Statement Reporting of Publicly Listed Companies in Nigeria PDF Online Free

Author : Ademola Akinteye
Publisher : GRIN Verlag
ISBN 13 : 334607871X
Total Pages : 862 pages
Book Rating : 4.3/5 (46 download)

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Book Synopsis Earnings Management and Corporate Governance. An Investigation of Financial Statement Reporting of Publicly Listed Companies in Nigeria by : Ademola Akinteye

Download or read book Earnings Management and Corporate Governance. An Investigation of Financial Statement Reporting of Publicly Listed Companies in Nigeria written by Ademola Akinteye and published by GRIN Verlag. This book was released on 2019-12-09 with total page 862 pages. Available in PDF, EPUB and Kindle. Book excerpt: Doctoral Thesis / Dissertation from the year 2015 in the subject Business economics - Investment and Finance, grade: Great Distinction, UGSM-Monarch Business School Switzerland (Accounting and Finance), course: Doctor of Philosophy in Finance, language: English, abstract: The dissertation examined Earnings Management and Corporate Governance Governance Practices of the firms that are listed on the floor of the Nigerian Stock Exchange. The researcher investigated the published financial statements of all the listed companies across all the sectors of the exchange using empirical quantitative research methods. Al the variables of earnings management were extracted from the published annual financial statements and Directors Annual Reports through Content Analysis. The paper further explored all the variables of corporate governance as published by the Directors in the Annual Reports in the Financial Statements and through a face to face recorded interviews of the members of the Board of Directors, the members of the Audit Committees and the Heads of Internal Audit Functions in the Listed Public Companies. The study documented that companies that are listed on the Nigerian Stock Exchange are involved in both the upward and downward earnings management practices. This findings cut across all the Sectors and categorization of the companies on the Nigerian Stock Exchange. The research thus recommended the need for better oversight by the Board of Directors, the Audit Committee and the Market Regulators mainly the Security and Exchange Commission and the Nigerian Stock Exchange. The findings of the Research on Corporate Governance is mixed. In certain sectors, evidence of strong corporate governance are documented as reflected in the quality of Board Members, the Quality of the deliberations at the Board meetings, the independence of the Board, the independence of the Audit Committee and the independence and effectiveness of the Head of the Internal Audit function measured by the reporting line of the holder of this role. In some sectors, the ingredients of strong corporate governance were missing thus suggesting a need for a more stricter regime of corporate governance to be implemented in these corporations.

Corporate Governance and Earnings Management

Author : Sonda Marrakchi Chtourou
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Corporate Governance and Earnings Management by : Sonda Marrakchi Chtourou

Download or read book Corporate Governance and Earnings Management written by Sonda Marrakchi Chtourou and published by . This book was released on 2003 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates whether a firm's corporate governance practices have an effect on the quality of its publicly released financial information. In particular, we examine the relationship between audit committee and board of directors characteristics and the extent of corporate earnings management as measured by the level of positive and negative discretionary accruals. Using two groups of US firms, one with relatively high and one with relatively low levels of discretionary accruals in the year 1996, we find that earnings management is significantly associated with some of the governance practices by audit committees and boards of directors. For audit committees, income increasing earnings management is negatively associated with a larger proportion of outside members who are not managers in other firms, a clear mandate for overseeing both the financial statements and the external audit, and a committee composed only of independent directors that meets more than twice a year. We also find that short-term stocks options held by non-executive committee members are associated with income increasing earnings management. Income decreasing earnings management is negatively associated with the presence of at least a member with financial expertise and a clear mandate for overseeing both the financial statements and the external audit.For the board of directors, we find less income increasing earnings management in firms whose outside board members have experience as board members with the firm and with other firms. We also find that larger board, the importance of the ownership stakes in the firm held by non-executive directors, and experience as board members seems to reduce income decreasing earnings management.Our results provide evidence that effective boards and audit committees constrain earnings management activities. These findings have implications for regulators, such as the Securities and Exchange Commission (SEC), as they attempt to supervise firms whose financial reporting is in the gray area between legitimacy and outright fraud and where earnings statements reflect the desires of management rather than the underlying financial performance of the company, as pointed out by the Blue Ribbon Committee (1999).

Governance and Sustainability

Author : David Crowther
Publisher : Emerald Group Publishing
ISBN 13 : 1800431538
Total Pages : 178 pages
Book Rating : 4.8/5 (4 download)

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Book Synopsis Governance and Sustainability by : David Crowther

Download or read book Governance and Sustainability written by David Crowther and published by Emerald Group Publishing. This book was released on 2020-10-21 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis of the issues raised concerning both sustainability and governance and an investigation of approaches taken to dealing with these issues. The research has been developed by experts from around the world who each look at different issues in different contexts.

The Effect of Corporate Governance, Ownership and Tax Aggressiveness on Earnings Management

Author : Nico Alexander
Publisher :
ISBN 13 :
Total Pages : 6 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Effect of Corporate Governance, Ownership and Tax Aggressiveness on Earnings Management by : Nico Alexander

Download or read book The Effect of Corporate Governance, Ownership and Tax Aggressiveness on Earnings Management written by Nico Alexander and published by . This book was released on 2018 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: Objective -The purpose of this research is to empirically examine the effect of corporate governance, ownership and tax aggressiveness on earnings management. Methodology/Technique -The population of this research consists of non-financial companies listed on the Indonesian Stock Exchange (IDX) between 2013 and 2015. This research uses 3 recent years and utilizes different variable that have not been used in prior research. The 67 samples were choose using a purposive sampling method. The hypotheses are tested using multiple regression analysis with the SPSS program, to investigate the influence of each independent variable on earnings management. Findings -The results show that the board of director have a positive influence on earnings management, while board independence, audit quality, managerial ownership, and tax aggressiveness have no influence on earnings management. Novelty -This research add value in the existing literature and empirically study the effect of the board of directors, independence of the board, audit quality, managerial ownership, and tax aggressiveness on earnings management. Type of Paper: Empirical.

Earnings Management and Corporate Governance. An Investigation OfFinancial Statement Reporting of Publicly Listed Companies in Nigeria

Author : Ademola Akinteye
Publisher :
ISBN 13 : 9783346078728
Total Pages : 868 pages
Book Rating : 4.0/5 (787 download)

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Book Synopsis Earnings Management and Corporate Governance. An Investigation OfFinancial Statement Reporting of Publicly Listed Companies in Nigeria by : Ademola Akinteye

Download or read book Earnings Management and Corporate Governance. An Investigation OfFinancial Statement Reporting of Publicly Listed Companies in Nigeria written by Ademola Akinteye and published by . This book was released on 2019-10-22 with total page 868 pages. Available in PDF, EPUB and Kindle. Book excerpt: Doctoral Thesis / Dissertation from the year 2015 in the subject Business economics - Investment and Finance, grade: Great Distinction, UGSM-Monarch Business School Switzerland (Accounting and Finance), course: Doctor of Philosophy in Finance, language: English, abstract: The dissertation examined Earnings Management and Corporate Governance Governance Practices of the firms that are listed on the floor of the Nigerian Stock Exchange. The researcher investigated the published financial statements of all the listed companies across all the sectors of the exchange using empirical quantitative research methods. Al the variables of earnings management were extracted from the published annual financial statements and Directors Annual Reports through Content Analysis. The paper further explored all the variables of corporate governance as published by the Directors in the Annual Reports in the Financial Statements and through a face to face recorded interviews of the members of the Board of Directors, the members of the Audit Committees and the Heads of Internal Audit Functions in the Listed Public Companies. The study documented that companies that are listed on the Nigerian Stock Exchange are involved in both the upward and downward earnings management practices. This findings cut across all the Sectors and categorization of the companies on the Nigerian Stock Exchange. The research thus recommended the need for better oversight by the Board of Directors, the Audit Committee and the Market Regulators mainly the Security and Exchange Commission and the Nigerian Stock Exchange. The findings of the Research on Corporate Governance is mixed. In certain sectors, evidence of strong corporate governance are documented as reflected in the quality of Board Members, the Quality of the deliberations at the Board meetings, the independence of the Board, the independence of the Audit Committee and the independence and effectiveness of the Head of the Internal Audit function measur

Handbook on Emerging Issues in Corporate Governance

Author : Alireza Tourani-Rad
Publisher : World Scientific
ISBN 13 : 9814289345
Total Pages : 316 pages
Book Rating : 4.8/5 (142 download)

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Book Synopsis Handbook on Emerging Issues in Corporate Governance by : Alireza Tourani-Rad

Download or read book Handbook on Emerging Issues in Corporate Governance written by Alireza Tourani-Rad and published by World Scientific. This book was released on 2011 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book highlights emerging topics in key areas of corporate governance with special emphasis on traditionally unexplored issues. It also aims to stimulate thinking and debate on vital aspects of practice and approaches to corporate governance. The topics covered in this book deal with timely subjects, written by eminent academics and renowned professionals with outstanding expertise in their respective fields, who bring to fore the latest theories and provide an up-to-date overview of the extant literature on each topic. More importantly, they draw readers attention to implications for future research and developments. The book not only contributes to the academic literature but also improves the decision making of regulators and investors.

Corporate Governance and Organisational Performance

Author : Naeem Tabassum
Publisher : Springer Nature
ISBN 13 : 3030485277
Total Pages : 335 pages
Book Rating : 4.0/5 (34 download)

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Book Synopsis Corporate Governance and Organisational Performance by : Naeem Tabassum

Download or read book Corporate Governance and Organisational Performance written by Naeem Tabassum and published by Springer Nature. This book was released on 2020-06-28 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: Establishing a corporate governance strategy that promotes the efficient use of organisational resources is instrumental in the economic growth of a country, as well as the successful management of firms. This book reviews existing literature and identifies board structural features as key variables of an effective corporate governance system, establishing a multi-theoretical model that links Board structural characteristics with firm performance. It then, using a comprehensive empirical study of 265 companies listed on the Karachi Stock exchange, tests this conceptual model. This research serves as a significant milestone, reflecting the socio-economic setting of emerging economies, and highlighting the need for the corporate sector in emerging markets to move away from a 'tick-box' culture. It argues that the sector needs to implement corporate governance as a tool to mitigate business risks; appoint and empower non-executive directors to achieve an effective monitoring of management; and establish their own ethical and governance principles, applicable to the Board of Directors. Based on an extensive data base, collected painstakingly over five years, this book offers new insights and conceptual framework for further research in this area. Given the breadth and width of the research, it is a useful source of future reference for students, researchers and policy makers.

Corporate Governance in Emerging Markets

Author : Sabri Boubaker
Publisher : Springer Science & Business Media
ISBN 13 : 3642449557
Total Pages : 625 pages
Book Rating : 4.6/5 (424 download)

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Book Synopsis Corporate Governance in Emerging Markets by : Sabri Boubaker

Download or read book Corporate Governance in Emerging Markets written by Sabri Boubaker and published by Springer Science & Business Media. This book was released on 2014-04-01 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book fills the gap between theories and practices of corporate governance in emerging markets by providing the reader with an in-depth understanding of governance mechanisms, practices and cases in these markets. It is an invaluable resource not only for academic researchers and graduate students in law, economics, management and finance but also for people practicing governance such as lawmakers, policymakers and international organizations promoting best governance practices in emerging countries. Investors can benefit from this book to better understand of these markets and to make judicious investment decisions.

Corporate Governance and Accruals Earnings Management

Author : Leonidas C. Doukakis
Publisher :
ISBN 13 :
Total Pages : 49 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Corporate Governance and Accruals Earnings Management by : Leonidas C. Doukakis

Download or read book Corporate Governance and Accruals Earnings Management written by Leonidas C. Doukakis and published by . This book was released on 2014 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the association between corporate governance and accruals earnings management using a Corporate Governance Index (CGI) consisting of 55 individual corporate governance measures. Prior literature has focused primarily on certain individual corporate governance measures, overlooking the multidimensional character of corporate governance. Based on a sample of firms listed on the Athens, Milan and Madrid Stock Exchanges, we find an inverse relationship between corporate governance and earnings management. Corporate governance provisions seem to constrain the tendency of management to manage earnings leading to higher credibility for financial statements. Additional tests suggest that the negative relationship holds for large and middle capitalization firms, but not for the small capitalization sample. In addition, corporate governance provisions limit upwards but not downwards earnings management. This study emphasizes the multilevel character of corporate governance and suggests the usage of comprehensive measures of corporate governance in the academic research. This study also stresses the importance of introducing corporate governance mechanisms in order to ensure the integrity of the financial reporting process. Practitioners are expected to evaluate the corporate governance provisions that each firm has put in place while policy makers are expected to mandate the application of a wide range of corporate governance mechanisms.

Dividend-based Earnings Management

Author : Eero Kasanen
Publisher :
ISBN 13 : 9789517020633
Total Pages : 38 pages
Book Rating : 4.0/5 (26 download)

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Book Synopsis Dividend-based Earnings Management by : Eero Kasanen

Download or read book Dividend-based Earnings Management written by Eero Kasanen and published by . This book was released on 1992 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Effect of Corporate Governance on Management's Real Earnings Management Decisions

Author : Yaser Youssif
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)

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Book Synopsis The Effect of Corporate Governance on Management's Real Earnings Management Decisions by : Yaser Youssif

Download or read book The Effect of Corporate Governance on Management's Real Earnings Management Decisions written by Yaser Youssif and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

An Investigation of the Impact of Corporate Governance on Decision to Expense Employee Stock Options

Author : Ling Jiang
Publisher :
ISBN 13 :
Total Pages : 200 pages
Book Rating : 4.:/5 (712 download)

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Book Synopsis An Investigation of the Impact of Corporate Governance on Decision to Expense Employee Stock Options by : Ling Jiang

Download or read book An Investigation of the Impact of Corporate Governance on Decision to Expense Employee Stock Options written by Ling Jiang and published by . This book was released on 2006 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporations have the choice of expensing (using the fair value method), or non-expensing (using the intrinsic value method and provide pro forma disclosure in financial statement footnotes) of employee stock options. The current study examines how corporate governance factors affect such choices. Prior studies (Xie et al. 2003; Klein 2002; Peasnell et al. 2000) have indicated that certain corporate governance factors have an impact on corporate accounting behavior, including earnings management. Based on the assumption that expensing employee stock options is a good practice of accounting that improves earnings quality, it is hypothesized that these corporate governance factors would affect companies' option expensing decisions, in ways similar to how they affect companies' other earnings management choices. A series of hypotheses relating to specific corporate governance factors are developed. These corporate governance factors include: Board independence (percentage of independent directors on the board, CEO/board chairman split, and tenure of independent directors), board expertise (governance expertise and financial expertise), board diligence, board ownership, board size, CEO tenure, and internal blockholders (cumulative ownership percentage of internal blockholders, and whether the largest blockholder is the CEO). A sample of firms that elected to expense employee stock options up to early September 2003 is identified from the report of Bear, Stearns & Co., Inc. (2003), and a control sample of non-expensing firms is selected based on certain matching principles. The final sample consists of 235 expensing firms and 235 matched control firms, 470 firms in total. A logit regression is conducted. The dependent variable is companies' decisions on whether or not to expense employee stock options. The independent variables are corporate governance factors and control variables. Regression results indicate that the following corporate governance factors have statistically significant impact on option expensing decisions in the directions predicted: finance expertise, board diligence, and whether the CEO is the largest blockholder. Regression results indicate a statistically significant impact on option expensing decisions, which is in the opposite direction than predicted, for the cumulative ownership percentage of internal blockholders. The impacts of all other corporate governance factors are statistically insignificant.

Earnings Management and Corporate Governance in Family-Controlled Companies

Author : Sasson Bar-Yosef
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Earnings Management and Corporate Governance in Family-Controlled Companies by : Sasson Bar-Yosef

Download or read book Earnings Management and Corporate Governance in Family-Controlled Companies written by Sasson Bar-Yosef and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance literature advances the idea that certain aspects of board of directors' structure improve monitoring of managerial decisions. Among these is the managers' decision to manage earnings. Prior studies have shown that earnings management, in widely-held public companies, is less prevalent when there is a high level of board independence. However, there is less evidence on the effectiveness of board independence on earnings management in family-controlled companies. This issue is interesting in particular as such companies are susceptible to various types of agency concerns. It is the purpose of this study to shed light on the earnings management issue in family-controlled companies, characterized by a potentially low board independence environment. In this study, board independence is estimated by two parameters (i) proportion of independent directors on board, and (ii) lack of CEO/Board Chairman duality function, with special attention paid to the case where the CEO is a member of the controlling-family. Our empirical results provide evidence that, indeed, the impact of board independence on earnings management is weaker in family-controlled companies. The same effects are also found for the cases where the CEO is a member of the controlling-family, even though she is not also the Board Chairman.

Corporate Governance

Author : Sankatha Singh
Publisher : Excel Books India
ISBN 13 : 9788174464170
Total Pages : 556 pages
Book Rating : 4.4/5 (641 download)

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Book Synopsis Corporate Governance by : Sankatha Singh

Download or read book Corporate Governance written by Sankatha Singh and published by Excel Books India. This book was released on 2005 with total page 556 pages. Available in PDF, EPUB and Kindle. Book excerpt: The subject Corporate Governance:Global Concepts and Practices has occupied centre- stage, particularly since the early 1990s in U.K., USA, rest of Europe, Canada, Japan, India and many other developing countries of the world. The present volume is essentially a comprehensive textbook, focusing on both concepts and corporate governance practices. Even before the Enron collapse and several other kingsize scandals, there has been a steadily mounting volume of complaints regarding the dismal state of governance in most large corporates across the globe, mostly relating to accounting irregularities and top dressing of financial results, almost universally perpetrated at the behest of the Company Chairman & CEO himself. Keeping the above ground realities in view, the present volume is intended to be a standard reference as well as textbook on the varied facets of corporate governance. The book has six distinct parts, containing in all as many as twenty-eight interrelated chapters.The first part deals with subjects like business environment, business ethics and social responsibilities, management of a firm, etc., while the second part is concerned with the theory of firm, its objectives, accounting standards and creative accounting practices. Part Three of the book dwells at length on the working of the company board, board committees, need for whistle blowing, corporate governance rating and need for separation of the positions of Chairman and CEO. Part Four presents summary recommendations of five Indian Committees on corporate governance in chronological order. These are (i) CII Committee (1998), (ii) Ist SEBI Committee (1999), (iii) Ganguly Committee-RBI (2002); (iv) Naresh Chandra Committee (2002) and (v) 2nd SEBI Committee (2003). Part Five contains six chapters comprising as many live cases on accounting scams. The sixth part of the book contains governance reports of three world class companies from India, viz., Infosys Technologies Ltd., Wipro, and Reliance Industries Ltd.