Earnings Management In Private Firms
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Earnings Management In Private Firms
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Author : Morten Nicklas Bigler Jensen
language : en
Publisher:
Release Date : 2019
Earnings Management In Private Firms written by Morten Nicklas Bigler Jensen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Earnings Management In European Private Firms Versus Public Firms
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Author : Jingwen Yang
language : en
Publisher:
Release Date : 2018
Earnings Management In European Private Firms Versus Public Firms written by Jingwen Yang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Business categories.
This thesis presents three papers which empirically investigate earnings management (EM) in European private and public firms. Highlighting the importance of private firms, according to the Federation of European Accountants (2016), there are 99% of firms which are registered as private firms, and are considered as the backbone of the European economy. Similarly, there are around 29 million private firms in the U.S., which account for 86% of U.S. firms and generate almost one-half of the nation's GDP. To date there is limited evidence about private firms' EM activities. The thesis attempts to fill this gap by not only analysing EM in private firms, but also by comparing the EM of private firms with that of public firms, and in so doing, assesses whether determinants of EM are similar for both types of firms. The sample used in this study comprises both private and public firms domiciled in 11 European countries for which consolidated financial statements are available for the period from 2001 to 2013. These countries are Belgium, Finland, France, Germany, Greece, Italy, The Netherlands, Portugal, Spain, Sweden, and the U.K. In developing the testable hypotheses, the study employs several theoretical frameworks related to EM including the 'opportunistic behaviour' and 'demand' theories.The main aim of the first paper is to assess the extent of EM for private and public firms domiciled in Europe. In particular, this paper examines the degree of EM for both private and public firms by considering, in part, the influence of country-level factors including legal enforcement, investor protection and tax systems, as well as the adoption of IFRS. The empirical results show that private firms are more likely to engage in EM than public firms, and the effects of IFRS in lowering EM is more pronounced for public firms than for private firms. Furthermore, country-level factors including legal enforcement, investor protection rules and tax rates are important determinants of EM. Given that enhancing country-level legal enforcement systems and investor protection may reduce the use of EM further in both private and public firms, the current study suggests that standard-setters should consider some of the country-level variables to better guarantee the quality of accounting information across countries. The second paper examines the accrual based EM of private and public firms domiciled in Europe, and questions whether IFRS adoption has improved EM. The paper further examines whether EM between private and public firms differs in the following three scenarios (i) due to the need to meet earnings benchmarks, (ii) when obtaining external financing and (iii) whenVIthe firm employs a Big4 auditor. The results suggest public firms, in general, have lower EM and report more conservatively than private firms. This result is consistent with the argument that on average public firms need to provide higher quality financial information to investors and other stakeholders relative to private firms. However, the finding suggest public firms' lower EM is mitigated or decreased in the three settings mentioned above. Finally, this paper observes that the EM of public firms has decreased post-IFRS adoption, supporting the view that IFRS has improved the financial reporting quality of public firms. The third paper assesses the degree of real earnings management (REM) for private and public firms domiciled in Europe. This paper further examines some settings that present clear incentives to manage earnings such as (i) to meet earnings benchmarks, (ii) when obtaining external financing, (iii) when leverage is high, and (iv) when losses are large. The empirical results show that public firms engage in more earnings management through real operating activities, and that REM in public firms increased following IFRS adoption, relative to private firms. Furthermore, this study finds that public firms, overall, face stronger incentives to manage earnings than do private firms' managers in the four settings mentioned above. The study contributes not only to the EM literature on non-accrual earnings management, but also the current debate on IFRS adoptions.
Earnings Management In European Private Firms Versus Public Firms
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Author :
language : en
Publisher:
Release Date : 2018
Earnings Management In European Private Firms Versus Public Firms written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Political Cost Dis Incentives For Earnings Management In Private Firms
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Author : Neil Garrod
language : en
Publisher:
Release Date : 2007
Political Cost Dis Incentives For Earnings Management In Private Firms written by Neil Garrod and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
We examine the extent to which economic incentives subject to political cost impact on accounting choice. We employ a setting with no agency factors to disguise economic incentives for earnings management. We find that profit firms manage earnings downward to reduce, but not entirely eliminate, current period corporate tax. Elimination of tax is constrained by political cost resulting from the increased possibility of a tax audit. That same political cost also provides an incentive to firms that are genuinely in a position where they would pay no tax in the current period to adopt earnings (and tax)-increasing accounting policies. Consistent with existing literature we find that some earnings management occurs at the operating profit level but, as expected, quot;realquot; economic transactions are not managed, as this would reduce the value of the firm and directly owner/manager wealth. Results are robust to variations in ownership structure, financial debt, collateral, varying deflators, etc.
Ph D Serie
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Author : Morten Nicklas Bigler Jensen
language : en
Publisher:
Release Date : 2019
Ph D Serie written by Morten Nicklas Bigler Jensen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Introduction To Earnings Management
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Author : Malek El Diri
language : en
Publisher: Springer
Release Date : 2017-08-20
Introduction To Earnings Management written by Malek El Diri and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-20 with Business & Economics categories.
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.
Stakeholder Influence On Earnings Management Behavior By German Private Firms
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Author : Thomas R. Loy
language : en
Publisher:
Release Date : 2013
Stakeholder Influence On Earnings Management Behavior By German Private Firms written by Thomas R. Loy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Earnings Management
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Author : Joshua Ronen
language : en
Publisher: Springer Science & Business Media
Release Date : 2008
Earnings Management written by Joshua Ronen and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Business & Economics categories.
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?
Earnings Management In United States Private Firms
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Author : Joseph A. Nketia
language : en
Publisher:
Release Date : 2017
Earnings Management In United States Private Firms written by Joseph A. Nketia and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Earnings Management In Private Family Versus Non Family Firms
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Author : Joao Borralho
language : en
Publisher:
Release Date : 2019
Earnings Management In Private Family Versus Non Family Firms written by Joao Borralho and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
The study addresses the signs of earnings management in unlisted companies, comparing the situation in family firms and non-family firms. We adopt arguments from agency theory, and stewardship theory, which are supplemented with the assumptions of socio-emotional wealth literature, to justify our research model. The sample is composed of 263 audited Spanish companies with a turnover of more than 200 million euros, which were analyzed in the period from 2011 to 2015. Results indicate that family firms are less prone to the practices of earnings management that the non-family firms, although the association between the family firm status and the earnings management is moderated by the firm generation. This work contributes to the literature on the quality of financial information in both family firms and unlisted companies, exploring new areas of research.