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Accounting Discretion Corporate Governance And Firm Performance
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Book Synopsis Accounting Discretion, Corporate Governance and Firm Performance by : Robert M. Bowen
Download or read book Accounting Discretion, Corporate Governance and Firm Performance written by Robert M. Bowen and published by . This book was released on 2007 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate whether accounting discretion is (i) abused by opportunistic managers who exploit lax governance structures, or (ii) used by managers in a manner consistent with efficient contracting and shareholder value-maximization. Prior research documents an association between accounting discretion and poor governance quality and concludes that such evidence is consistent with abuse of the latitude allowed by accounting rules. We argue that this interpretation may be premature because, if such association is indeed evidence of opportunism, we ought to observe subsequent poor performance, ceteris paribus.Following Core et al. (1999) we conduct our analysis in two stages. In the first stage, we extend the prior literature and again find a link between poor governance and managers' accounting discretion. However, in the second stage we fail to detect a negative association between accounting discretion attributable to poor governance and subsequent firm performance. This suggests that, on average, managers do not abuse accounting discretion at the expense of firms' shareholders. Rather, we find some evidence that discretion due to poor governance is positively associated with future operating cash flows, which suggests that shareholders may benefit from earnings management, perhaps because it signals future performance.
Book Synopsis The Role of Corporate Governance in Accounting Discretion Under IFRS by : Humayun Kabir
Download or read book The Role of Corporate Governance in Accounting Discretion Under IFRS written by Humayun Kabir and published by . This book was released on 2016 with total page 1 pages. Available in PDF, EPUB and Kindle. Book excerpt: A major concern with the adoption of International Financial Reporting Standards (IFRS) is the accounting discretion allowed under the IFRS, and its potential opportunistic use by managers. We examine the role of corporate governance in the accounting discretion inherent in goodwill impairment decisions under the IFRS. More specifically, we investigate whether, in Australia, stronger governance strengthens associations between economic factors and goodwill impairment loss but weakens associations between contracting incentives and goodwill impairment loss. Using data from 2007 to 2012, we find evidence consistent with the notion that stronger governance enhances the associations between economic factors and goodwill impairment loss. However, we find that strong governance cannot completely eliminate the opportunistic use of discretion in an impairment decision, especially when pre-impairment income is negative, and when the impairment occurs in the first year of a CEO's tenure. Our results are robust with regards to alternative measures of the dependent variable, firm performance variables, and the governance variable, even after controlling for potential self-selection biases.
Book Synopsis Accounting and Regulation by : Roberto Di Pietra
Download or read book Accounting and Regulation written by Roberto Di Pietra and published by Springer Science & Business Media. This book was released on 2013-11-05 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1998, the world’s leading experts on accounting and regulation have convened in a series of workshops to explore and analyze emerging issues in the field. They have covered a wide array of topics, including corporate governance, auditing, financial disclosure, international standards boards, and the dynamics of markets and institutions. Most recently, they have focused on the role that accounting practices and policies may have played in the global financial crisis of 2008. In this volume, the editors showcase contributions from the workshops that represent the full spectrum of issues and perspectives relating to accounting and regulation. Each paper incorporates the most current examples and references to reflect the latest insights, with an emphasis on exploring future implications for theory and research, practice, and policymaking.
Book Synopsis Empirical Analysis of Corporate Governance and Firm Performance by : Azizah Abdullah
Download or read book Empirical Analysis of Corporate Governance and Firm Performance written by Azizah Abdullah and published by . This book was released on 2007 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Power and Ownership written by and published by Spokesman Books. This book was released on 2003 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Governance and Firm Performance by : Morris G. Danielson
Download or read book Corporate Governance and Firm Performance written by Morris G. Danielson and published by . This book was released on 1995 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Beyond Governance written by Martin Fahy and published by John Wiley & Sons. This book was released on 2005-04-08 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following a series of corporate scandals, legislators have company executives in their sights, and are arming themselves with ever-greater regulatory firepower. All agree that good governance is essential - but must not be allowed to stifle business performance. Beyond Governance develops the concept of Enterprise Governance, an emerging framework which unites Performance, Conformance and Corporate Responsibility and shows how addressing all of these areas in a concerted, coordinated fashion will deliver value to the organisation and its stakeholders. In particular, it focuses on the skills, processes and systems that are required to deliver excellence in each of these areas, giving readers a practical insight into the issues and an understanding of best practice in each area. Many firms are rethinking their finance activities in the light of e-commerce, shared service centres, business intelligence technology and cost pressures. Beyond Governance explores the challenge of building a modern, flexible finance function, describing the emerging role of the new CFO and how finance professionals should respond to this new business environment.
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.
Book Synopsis Accounting discretion of banks during a financial crisis by : Mr.Luc Laeven
Download or read book Accounting discretion of banks during a financial crisis written by Mr.Luc Laeven and published by International Monetary Fund. This book was released on 2009-09-01 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper shows that banks use accounting discretion to overstate the value of distressed assets. Banks' balance sheets overvalue real estate-related assets compared to the market value of these assets, especially during the U.S. mortgage crisis. Share prices of banks with large exposure to mortgage-backed securities also react favorably to recent changes in accounting rules that relax fair-value accounting, and these banks provision less for bad loans. Furthermore, distressed banks use discretion in the classification of mortgage-backed securities to inflate their books. Our results indicate that banks' balance sheets offer a distorted view of the financial health of the banks.
Book Synopsis 公司治理_构与治理机制研究——基于金融危机、股_分置改革的_角 by : _春燕、_田交_
Download or read book 公司治理_构与治理机制研究——基于金融危机、股_分置改革的_角 written by _春燕、_田交_ and published by 西南財經大學出版社. This book was released on 2018-02-28 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: �公司治理__受到__界和__界人士的_泛_注。_有研究_注更多的是西方成熟__体的公司治理__。在新_市__家，_中小股__益的法律保_相比成熟__体有所欠缺，如何_解控股股__中小股__富的侵占__是公司治理的一_重要__。中_公司所有__构高度集中、存在非流通股，容易_生大股__中小股_利益的侵占__。由_春燕、_田交_著的《公司治理_构与治理机制研究--基于金融危机股_分置改革的_角》_用中__据研究公司治理机制如何保_中小股_利益的__。具体__，本_研究了以下三_方面的__：(1)在全球金融危机期_公司治理机制_公司市___的影_；(2)高管更替后公司市___的_期表_；(3)公司_金股利支付与公司所有__构之_的_系。已有文___了中_公司治理_公司__的影_，本_在受到更少治理_量內生性__影_的研究_置下再一次__中_公司治理_公司__的影_。 2007—2009年全球金融危机___公司__是不可__的，采用全球金融危机期_的_据__治理机制_公司__的影_可以避免治理_量的內生性__。研 究__在金融危机前表_差一些的_有企_在金融危机期_反而表_更好了，特_是那些公司所有__构集中和_行__多的_有企_。__果表明集中的_家所有__解了金融危机期__有企_的__困境。_研究___在控制了各种公司特征_量后，管理者持股与有企_金融危机期_的市___呈_著正相__系，表明管理者持股_解了_有企_的委托代理__。最后，___聘用有__的___事_所_任__的公司在全球金危机期___了更少的市___下降。 2005年，_了消除非流通股，中______了股_分置改革，__中_的公司治理_构__了巨大_化。本_分_探究了股_分置改革前后高管更替公司的市___表_，_果表明股_分置改革前高管更替_有改_公司市___，但在股_分置改革完成后，_那些投_者股票回___的公司的高管_行更替后，公司股票__取得了_著改善。_表明在股_分置改革后，公司控股股_有_力去_戒市___表_ 差的公司高管。 本_探究了中_上市公司_金股利支付相_的侵占__，具体研究了股_分置改革前后非流通比例的改_、控股股_持股比例的改_与公司_金股利支付_化的_系。本_研究表明，在中_，由于_中小股_保__不足，加上集中的所有__构，控股股_的_机非常重要。股_分置改革在一定程度上使控股股_与中小股_的利益__一致，但是只要控股股_有_机持有充足的股份以_到他_控制公司的目的，控股股_与中小股_之_的利益_突就不_完全消除。
Book Synopsis Behaviour and Rationality in Corporate Governance by : Oliver Marnet
Download or read book Behaviour and Rationality in Corporate Governance written by Oliver Marnet and published by Routledge. This book was released on 2008-03-19 with total page 387 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate scandals due to bad accounting happen far too frequently for a system of corporate governance to be deemed effective. This book tells why the safeguards designed to prevent bad accounting so often fail. By studying why the auditors and members of a board of directors regularly fail to deliver the truth about a company‘s financ
Book Synopsis Understanding Accounting Academic Research by : Stephen R. Moehrle
Download or read book Understanding Accounting Academic Research written by Stephen R. Moehrle and published by Emerald Group Publishing. This book was released on 2013-06-25 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accounting scandals such as Enron and WorldCom ushered in several regulatory overhauls including Sarbanes-Oxley. This monograph summarizes and synthesize a decade of academic research to develop an evolving dominant explanation around these myriad changes.
Book Synopsis A cross Saudi firm Analysis of the impact of corporate governance on the stock price performance during the recent financial crisis by :
Download or read book A cross Saudi firm Analysis of the impact of corporate governance on the stock price performance during the recent financial crisis written by and published by SABIC Chair for IFMS. This book was released on with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Governance and Firm Value in Italy by : Bruno Buchetti
Download or read book Corporate Governance and Firm Value in Italy written by Bruno Buchetti and published by Springer Nature. This book was released on 2021-01-04 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book expands on the literature on the characteristics of management boards by especially focusing on family-listed and family-controlled companies, as they are ideal for studying board heterogeneity. It uses specific multidimensional indices and in-depth econometric analysis to introduce new variables, such as international experience, that represent a source of competitive advantage for firms in today’s globalized world. In addition, by examining the heterogeneity ratio and the representation of independent and family directors, the book demonstrates how family-controlled firms use independent directors to import their heterogeneous expertise. The book makes a threefold contribution: for regulators, it offers suggestions on improving the quality of reporting in family-controlled firms; for researchers, it demonstrates the importance of including directors’ characteristics apart from the firm-specific factors in their analyses; and for practitioners, it shows that selecting directors with specific characteristics can have a substantial impact on firms’ performance.
Book Synopsis Research in Accounting Regulation by : Gary Previts
Download or read book Research in Accounting Regulation written by Gary Previts and published by Elsevier. This book was released on 2006-01-27 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: The scope of service provided by professional accountants is influenced by legislation and case law as well as the dictates of a variety of government and private sector agencies; including State Boards of Accountancy, Academic Accreditation Bodies, the United States Securities and Exchange Commission, the Public Accounting Oversight Board, independent standard setting bodies such as the Federal Accounting Standards Advisory Board [US], the Financial Accounting Standards Board [US] and the International Accounting Standards Board. These entities and self-regulatory organizations such as U.S. State Societies of CPAs and the American Institute of Certified Public Accountants and equivalent and emerging national bodies that exist in most developed and developing countries, are among the emerging entities which attempt to coordinate the activities of professional accountants among sovereign nations. It is important for academics, students, practitioners, regulators and researchers to consider and study the role and relationship of such bodies with the practice and content of our discipline. Research in Accounting Regulation seeks high quality manuscripts which address accounting regulatory policy, broadly defined, including: 1. self regulatory activities 2. case law and litigation 3. legislation and government regulation 4. the economics of regulation of markets, and disclosure, including modeling 5. matters involving the structure of education, licensing, and accreditation The editors encourage submission of original empirical, behavioral or applied research manuscripts which consider strategic and policy implications for regulation, regulatory models and markets. It is intended for individual researchers, practitioners, regulators and students of accountancy who desire to increase their understanding of the regulation of accountancy.
Book Synopsis Corporate Governance and Firm Performance in the Financial Crisis by : Anna Köhler
Download or read book Corporate Governance and Firm Performance in the Financial Crisis written by Anna Köhler and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study seeks to find out if and how firm specific corporate governance mechanisms affected the performance of Swiss companies in the real economy during the financial crisis 2007 until 2009. This was conducted by regressing four different crisis performance measures, measuring market based performance and operational performance on a set of corporate governance and financial control variables. The most pronounced finding was a significant positive effect of institutional shareholders on crisis performance, measured as 21-month buy-and-hold returns. Secondly a separation of the positions of CEO and Chairman of the board was found to be favourable concerning performance during the crisis. None of the other corporate governance variables employed in this study had a statistically significant effect on firm performance. In particular there is no evidence to be found, that corporate governance mechanisms affect the operating performance of a company. Furthermore companies pushing shareholder wealth before the crisis and thus performing well in the pre-crisis period, significantly underperformed during the crisis.
Book Synopsis Essays on the Effects of Corporate Governance and CEO Narcissism on Firm Performance and Accounting Choices by : Frerich Buchholz
Download or read book Essays on the Effects of Corporate Governance and CEO Narcissism on Firm Performance and Accounting Choices written by Frerich Buchholz and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
