Earnings Management Preferences Of Family Firms And Its Impact On The Market Value Of The Firm
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Earnings Management Preferences Of Family Firms And Its Impact On The Market Value Of The Firm
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Author : Suhas M. Avabruth
language : en
Publisher:
Release Date : 2018
Earnings Management Preferences Of Family Firms And Its Impact On The Market Value Of The Firm written by Suhas M. Avabruth 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.
In this paper we analyze the preference for earnings management techniques by the family firms and the impact of the same on the performance of the firm. Family firms contrary to non-family firms are driven by different objectives. Using socio emotional wealth theory, we hypothesize that family firms prefer an earnings management technique, which is less risky in the long term. Using the publicly available data on all the family firms listed on Bombay Stock Exchange (BSE), our analysis indicates prevalence both accrual based and real activity earnings management among Indian family firms. However, revenue based real activity earnings management was preferred by those family firms that have exhausted the possibility of accrual based earnings management. Our analysis of the impact of earnings management choice on market value indicates a short-term positive impact of the accrual based earnings management. Revenue based real activity earnings management was found to have long term positive impact but the cost based real activity earnings management had a long term negative impact on the value of the market value of the firm.
Real Earnings Management And Accrual Based Earnings Management In Family Firms
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Author : Ann-Kristin Achleitner
language : en
Publisher:
Release Date : 2019
Real Earnings Management And Accrual Based Earnings Management In Family Firms written by Ann-Kristin Achleitner 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.
We examine the effects of family firms on real earnings management (REM) and accrual-based earnings management (ABEM). Using socioemotional wealth (SEW) as a theoretical framework and considering the different implications of REM and ABEM on family firms' transgenerational sustainability, we hypothesize and find for a sample of 402 German listed family firms during 1998-2008, that family firms engage less in REM and exhibit more earnings-decreasing ABEM policies as compared to a sample of 436 non-family firms. We further provide evidence that family firms as compared to non-family firms treat REM and ABEM as substitute rather than complementary tools for earnings management. Overall, our findings suggest that family firms use earnings management activities strategically, avoiding those that inhibit the firm's long-term value (i.e. REM) and engaging in those that help families retain transgenerational control (i.e. ABEM).
Capital Structure Earnings Management And Risk Of Financial Distress
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Author : Pietro Gottardo
language : en
Publisher: Springer
Release Date : 2018-09-24
Capital Structure Earnings Management And Risk Of Financial Distress written by Pietro Gottardo and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-24 with Business & Economics categories.
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.
Performance And Behavior Of Family Firms
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Author : Esra Memili
language : en
Publisher: MDPI
Release Date : 2018-03-23
Performance And Behavior Of Family Firms written by Esra Memili and has been published by MDPI this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-23 with Electronic book categories.
This book is a printed edition of the Special Issue "Performance and Behavior of Family Firms" that was published in IJFS
Earnings Management And Firm S Market Value
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Author : Elisa Raoli
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2013
Earnings Management And Firm S Market Value written by Elisa Raoli and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
This book has the aim to provide an analysis on the possible reasons that may induce mangers to engage in earnings management in an insider market economy. Despite the recent increase in research by academic, practitioners and the focus from the policy maker, the earnings management phenomenon still remain relatively misunderstood, particularly with reference to the insider system economy. Based on the existing literature, this study analyzes the relationship between earnings management an firm's market value of the Italian listed companies. In contrast to the United States, Italy is a code-law and insider system country. The financial accounting system is characterized by a close overlap with tax accounting systems, which allows me to study the relationship with a different perspective than is possible with U.S. data. Thus, the reasons that may induce Italian managers to engage in earnings mangement may be different from the US ones. The earnings management phenomenon has been studied in both perspectives income-increasing and income-decreasing earnings management.
How Family Firms Differ
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Author : S. Bhaumik
language : en
Publisher: Springer
Release Date : 2014-11-25
How Family Firms Differ written by S. Bhaumik and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-11-25 with Business & Economics categories.
Family firms account for a large proportion of firms in most countries. In industrialised countries of North America and Western Europe, they generally account for a large share of small and medium sized enterprises. In emerging market economies such as India, they also account for the majority of the large firms. Their importance for factors such as employment creation notwithstanding, relative to the widely held Anglo-Saxon firms, which are ubiquitous in the economics, finance and management literatures, family firms have historically received much less attention from scholars of these disciplines. However, in part owing to increased focus on emerging markets, there is a growing literature on family firms. In How Family Firms Differ, the authors explore important aspects of family firms, drawing on the existing literature and their own research on these firms.
Earnings Management The Influence Of Real And Accrual Based Earnings Management On Earnings Quality
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Author :
language : en
Publisher: GRIN Verlag
Release Date : 2024-01-31
Earnings Management The Influence Of Real And Accrual Based Earnings Management On Earnings Quality written by and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-31 with Business & Economics categories.
Master's Thesis from the year 2019 in the subject Business economics - Accounting and Taxes, University of Duisburg-Essen, course: Master Thesis, language: English, abstract: This paper delves into various theories and approaches, aiming to define and differentiate earnings management from related concepts such as fraud, expectation management, and impression management. It explores the goals and incentives driving earnings management, including maximizing or minimizing earnings, beating targets, and smoothing. At the onset of the new millennium, corporate scandals rocked the business world, eroding trust in management, boards of directors, and the accounting profession. In response, regulations and policies aimed at enhancing corporate governance and financial reporting were swiftly implemented. The credibility, clarity, and consistency of financial reporting practices play a pivotal role in enabling investors to make informed decisions. Accurate and fair financial performance representations, as opposed to inflated and misleading figures, are essential for market players, including shareholders and creditors. Investors rely on audited financial reports to guide their investment decisions, underscoring the critical importance of accuracy and reliability in publicly available financial disclosures. Auditors, by reducing the risk of material misstatement, ensure the integrity of the information disclosed in a company's financial statements. Management, with the goal of achieving promised targets and ensuring the company's existence, may engage in earnings management as a strategic contribution to corporate policy. Financial reporting serves as a means to distinguish well-performing companies from their counterparts, facilitating efficient resource allocation and empowering stakeholders to make effective decisions. The disclosed earnings results significantly impact a firm's overall business activities and management decisions, particularly in satisfying analysts' expectations, which can influence equity value. While accounting standards play a role, the quality of financial statements is more influenced by company-specific and institutional factors shaping managers' incentives. These factors lead to financial reporting practices being viewed as the outcome of a cost-benefit assessment.
Family Firms And Institutional Contexts
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Author : Giorgia Maria D'Allura
language : en
Publisher: Edward Elgar Publishing
Release Date :
Family Firms And Institutional Contexts written by Giorgia Maria D'Allura and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on with Business & Economics categories.
"Family firms represent over 90 per cent of businesses globally, and play a significant role in the economies of many nations. This innovative book takes an interdisciplinary, cross-national approach to the study of family firms as institutions as well as the relationship between family firms and external institutions. In doing so, it demonstrates the impact of these interactions both on the firms and institutions themselves and on the wider economic context. Featuring in-depth analysis of original research, chapters take both theoretical and empirical approaches to explore the family firm as an organization, and include several key case studies. At a micro level, the social and cultural unit of the family and its behaviour is investigated, and at a macro level, external institutional contexts are examined to explain and theorise firms' behaviours and strategies, covering areas such as innovation, competitiveness and reputation. The book provides important conceptual insights and critical empirical research, as well as ideas for future research agendas. Family Firms and Institutional Contexts will be a critical read for scholars and doctoral students in business and management, particularly those with an interest in family firms. Policymakers and practitioners in these areas will also find its insights of practical relevance"--
Comparative Research On Earnings Management Corporate Governance And Economic Value
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Author : Elisabete S. Vieira
language : en
Publisher:
Release Date : 2021
Comparative Research On Earnings Management Corporate Governance And Economic Value written by Elisabete S. Vieira and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with Accounting categories.
"This book discusses the accounting policies firms use in different opportunistic circumstances in order to manage earnings, and to understand the corporate governance practices in different countries, and its relationship to firms' performance, and other dimensions of companies"--
Earnings Management In Family Firms
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Author : Inna Paiva
language : en
Publisher:
Release Date : 2016
Earnings Management In Family Firms written by Inna Paiva and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
This paper synthesizes the extant research on earnings management in family firms. It reviews the current state of knowledge about this phenomenon, identifying the main theoretical frameworks used in the empirical research on the topic, as well as the main types of said research and its findings.Agency theory is identified as the main theoretical framework used. Two major types of research identified in the literature are discussed, namely earnings management in family firms versus non-family firms, and (2) earnings management in different types of family firms. Important research gaps are identified, and future research priorities are suggested. These pertain to the lack of research on earnings management in non-listed family firms and analyzing the realities of less developed countries, as well as the importance of using theoretical frameworks batter able to capture the peculiarities of family firms.