Bonds Between Earnings Management and Corporate Financial Stability in the Context of the Competitive Ability of Enterprises

IF 4.4 1区 管理学 Q2 BUSINESS
K. Valaskova, Ane-Mari Androniceanu, Katarína Zvaríková, J. Oláh
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引用次数: 21

Abstract

The financial health of enterprises and their continued profitability and competitiveness in the market are influenced considerably by the level of earnings achieved. Enterprises are forced to report the best possible results to demonstrate financial strength and competitiveness and to provide a good accounting for investors and creditors. Thus, the main objective of the study is to investigate whether there is any mutual dependence between corporate financial stability and earnings management. To measure these categories, Altman’s Z score was used to determine the financial health of enterprises, and the Beneish M-score and modified Jones model were applied to detect earnings manipulation. Using the chi-square test, the results revealed a statistically significant dependence between financial distress and earnings manipulation. Then, a multivariate statistical technique of correspondence analysis was applied to the categorical data to find categories of factors that are mutually correspondent. Based on a dataset of 11,105 enterprises operating in the Visegrad countries, the results found that enterprises that are threatened by bankruptcy or located in the gray zone tend to manipulate their earnings to maintain credibility, creditworthiness, and competitiveness. Because the financial health of an enterprise provides a potential incentive for earnings manipulation, state authorities, regulators, and policy-makers may benefit from the findings of the study.
企业竞争力背景下盈余管理与企业财务稳定的关系
企业的财务状况及其在市场上的持续盈利能力和竞争力在很大程度上受到所取得收益水平的影响。企业被迫报告尽可能最好的结果,以显示财务实力和竞争力,并为投资者和债权人提供良好的会计。因此,本研究的主要目的是调查企业财务稳定与盈余管理之间是否存在相互依赖关系。为了衡量这些类别,我们使用Altman的Z分数来确定企业的财务健康状况,并使用Beneish的m分数和修正的Jones模型来检测盈余操纵。使用卡方检验,结果显示财务困境和盈余操纵之间存在统计学上显著的依赖关系。然后,将对应分析的多元统计技术应用于分类数据,以找到相互对应的因素类别。基于在维谢格拉德国家运营的11105家企业的数据集,结果发现,面临破产威胁或位于灰色地带的企业倾向于操纵其收益,以保持信誉、信誉和竞争力。由于企业的财务健康状况为盈余操纵提供了潜在的激励,国家当局、监管机构和政策制定者可能会从研究结果中受益。
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来源期刊
CiteScore
11.30
自引率
2.70%
发文量
33
审稿时长
12 weeks
期刊介绍: The Journal of Competitiveness, a scientific periodical published by the Faculty of Management and Economics of Tomas Bata University in Zlín in collaboration with publishing partners, presents the findings of basic and applied economic research conducted by both domestic and international scholars in the English language. Focusing on economics, finance, and management, the Journal of Competitiveness is dedicated to publishing original scientific articles. Published four times a year in both print and electronic formats, the journal follows a rigorous peer-review process with each contribution reviewed by two independent reviewers. Only scientific articles are considered for publication, while other types of papers such as informative articles, editorial materials, corrections, abstracts, or résumés are not included.
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