Financial Accounting eJournal最新文献_第8页

Earnings Management by Classification Shifting and IPO Survival 分类转移与IPO生存的盈余管理

Financial Accounting eJournal Pub Date : 2020-11-19 DOI: 10.2139/ssrn.3493585

Seraina C. Anagnostopoulou, D. Gounopoulos, Kamran Malikov, H. Pham

{"title":"Earnings Management by Classification Shifting and IPO Survival","authors":"Seraina C. Anagnostopoulou, D. Gounopoulos, Kamran Malikov, H. Pham","doi":"10.2139/ssrn.3493585","DOIUrl":"https://doi.org/10.2139/ssrn.3493585","url":null,"abstract":"Abstract The study examines the effect of earnings management by classification shifting on firm success, focusing on the survival of newly listed firms. We argue that shifting income-decreasing expenses from core to special items should negatively associate with future operating performance because of improper signaling of actual repeatable core profitability. We find that classification shifting strongly and negatively affects future Initial Public Offering (IPO) success and survival. We further identify the economic mechanisms that drive this finding and observe that our results are mitigated when the quality of external corporate governance alleviating agency concerns is stronger, also for IPO firms operating within stronger business contexts. Therefore, in an environment that facilitates firm survivability, the existence of weaker than reported sustainable performance may not end up materializing in the form of lower firm survivability as these factors aid firms' continuing operations from a business perspective. Our findings provide evidence of the longer-term implications of a method of earnings management that has long been considered “soft” and without any longer-term reversing consequences.","PeriodicalId":12319,"journal":{"name":"Financial Accounting eJournal","volume":"103 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-11-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78550929","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Contract Features and the Informativeness of Insider Trades 合约特征与内幕交易的信息性

Financial Accounting eJournal Pub Date : 2020-11-18 DOI: 10.2139/ssrn.3732761

Brian D. Cadman, M. Szeles

引用次数: 0

Examining the Phenomenon of Rounding in Analysts’ EPS Forecasts: Evidence from Singapore 检视分析师EPS预测的舍入现象:来自新加坡的证据

Financial Accounting eJournal Pub Date : 2020-11-18 DOI: 10.1108/ajar-09-2020-0083

Clarence Goh

{"title":"Examining the Phenomenon of Rounding in Analysts’ EPS Forecasts: Evidence from Singapore","authors":"Clarence Goh","doi":"10.1108/ajar-09-2020-0083","DOIUrl":"https://doi.org/10.1108/ajar-09-2020-0083","url":null,"abstract":"PurposePrior studies have documented the phenomenon of rounding of analysts' earnings per share (EPS) forecasts in the USA. From the outset, it is unclear if analysts following Singapore firms also similarly engage in the rounding of their EPS forecasts. This study aims to investigate the extent to which analysts engage in rounding of EPS forecasts of firms listed on the Singapore Exchange.Design/methodology/approachThe author conducted his analysis on a sample of analyst EPS forecasts of companies listed on the Singapore Stock Exchange, downloaded from the International Brokers Estimate System (I/B/E/S). This sample consists of 24,219 annual EPS forecasts announced from June 2011 to September 2019. These forecasts were made for 285 unique firms by 48 unique analysts.FindingsThe author finds that there is substantial rounding of EPS forecasts, with 9.59% of EPS forecasts examined ending in five- or ten-cent intervals. In supplementary analysis, the author further finds that the level of rounding was comparable across two periods under examination, from 2011 to 2015 and from 2016 to 2019. The author also finds that there was substantial rounding even for forecasts of relatively large magnitudes (i.e. US$1.00 and above).Originality/valueThis study is the first to examine the rounding of analysts' EPS forecasts of Singapore firms. It extends the literature on analyst EPS forecasts and highlights how the phenomenon of rounding of analyst EPS forecasts of US firms extends to Singapore.","PeriodicalId":12319,"journal":{"name":"Financial Accounting eJournal","volume":"13 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-11-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79916867","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Nonfinancial Resources Management: A Qualitative Study of Retention and Engagement in Nonprofit Community Fund Management 非财务资源管理:非营利社区基金管理中保留与参与的定性研究

Financial Accounting eJournal Pub Date : 2020-11-08 DOI: 10.2139/ssrn.3726815

Jude Edeigba, Deepica Singh

{"title":"Nonfinancial Resources Management: A Qualitative Study of Retention and Engagement in Nonprofit Community Fund Management","authors":"Jude Edeigba, Deepica Singh","doi":"10.2139/ssrn.3726815","DOIUrl":"https://doi.org/10.2139/ssrn.3726815","url":null,"abstract":"This study identifies the factors affecting volunteer retention and engagement in New Zealand. A dearth of research has focused on volunteering for nonprofit financing organisations in New Zealand. These organisations are involved particularly in raising funds through public benevolence. There have been rising trends of nonprofit organisations around the world while the number of volunteers decreases. Information on the factors influencing volunteer retention and engagement is expected to support the management of nonprofit community services. Therefore, this study uses a case study of a nonprofit organisation to identify the factors contributing to volunteer retention and engagement. The interview data is analysed using thematic data analysis. Benightedness, communication, management support, volunteer skills and volunteer participation in management decision making are associated with volunteer retention and engagement. These findings are expected to enhance the operation process of nonprofit Community Fund Management Organisations. Future research is suggested to enhance the management of volunteers in other types of nonprofit organisations.","PeriodicalId":12319,"journal":{"name":"Financial Accounting eJournal","volume":"26 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-11-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90602957","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Incorrect Inferences When Using Generated Regressors in Accounting Research 在会计研究中使用生成回归量时的错误推论

Financial Accounting eJournal Pub Date : 2020-11-04 DOI: 10.2139/ssrn.3724730

Wei Chen, P. Hribar, Sam Melessa

{"title":"Incorrect Inferences When Using Generated Regressors in Accounting Research","authors":"Wei Chen, P. Hribar, Sam Melessa","doi":"10.2139/ssrn.3724730","DOIUrl":"https://doi.org/10.2139/ssrn.3724730","url":null,"abstract":"We analyze the bias associated with the use of generated regressors, i.e., independent variables generated from a first-step auxiliary regression, in accounting research settings. Widely used generated regressors in accounting include discretionary accruals, the Dechow and Dichev [2002] measure of accrual quality, asymmetric timeliness coefficients, the Khan and Watts [2009] C-score, earnings persistence coefficients, real earnings management proxies, discretionary book-tax differences, and predicted values capturing litigation risk, bankruptcy risk, and the likelihood of a tax shelter. Under general conditions, the presence of generated regressors does not affect the consistency of coefficient estimates. However, commonly used generated regressors can bias standard errors towards zero, producing type I errors. We discuss various types of generated regressors (predicted values, residuals, coefficients, etc.) and demonstrate the associated standard error bias and factors affecting the bias using simple regression models and simulation analyses. We also show the bias can be substantial in common accounting settings by examining the magnitude of the bias when examining the effect of litigation risk on management forecast characteristics. Finally, we outline two corrections for the bias and show how the corrections, including bootstrapping standard errors, improve inferences.","PeriodicalId":12319,"journal":{"name":"Financial Accounting eJournal","volume":"69 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90386569","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 15

Disclosure Regulation in the Hands of Bank Regulators 银行监管机构手中的信息披露监管

Financial Accounting eJournal Pub Date : 2020-10-28 DOI: 10.2139/ssrn.3416204

Sehwa Kim, Seil Kim

引用次数: 1

The Debate Over Subsequent Accounting for Goodwill 商誉后续会计的争论

Financial Accounting eJournal Pub Date : 2020-10-27 DOI: 10.2308/horizons-19-054

Thomas J. Linsmeier, Erika Wheeler

引用次数: 11

Governance Through Trading on Acquisitions of Public Firms 通过收购上市公司的交易进行治理

Financial Accounting eJournal Pub Date : 2020-10-17 DOI: 10.2139/ssrn.2263837

E. C. Chang, Tse-Chun Lin, Xiaorong Ma

引用次数: 4

On The Legitimacy of Accounting Standards 论会计准则的合法性

Financial Accounting eJournal Pub Date : 2020-10-06 DOI: 10.2139/ssrn.3238742

Mark Penno

引用次数: 1

Managerial Discretion to Delay the Recognition of Goodwill Impairment: The Role of Enforcement 延迟确认商誉减值的管理自由裁量权:强制执行的作用

Financial Accounting eJournal Pub Date : 2020-10-03 DOI: 10.2139/ssrn.3704191

Andrei Filip, Gerald J. Lobo, Luc Paugam

{"title":"Managerial Discretion to Delay the Recognition of Goodwill Impairment: The Role of Enforcement","authors":"Andrei Filip, Gerald J. Lobo, Luc Paugam","doi":"10.2139/ssrn.3704191","DOIUrl":"https://doi.org/10.2139/ssrn.3704191","url":null,"abstract":"Under IFRS, managers can use two approaches to increase the estimated fair value of goodwill in order to justify not recognizing impairment: (1) make overly optimistic valuation assumptions, and (2) increase future cash flow forecasts by inflating current cash flows. Because enforcement constrains the use of optimistic valuation assumptions, we hypothesize that enforcement influences the relative use of these two choices. We test this hypothesis by comparing a sample of 1,958 firms from 36 countries that are likely to delay recognizing goodwill impairment (suspect firms) to a sample of control firms. First, we find that firms in high enforcement countries use a higher discount rate to test goodwill for impairment than firms in low enforcement countries. We also find a more positive association between discount rate and upward cash flow management for suspect firms than for control firms. This result is consistent with suspect firms substituting optimistic valuation assumptions with inflated current cash flows. Second, we find that, relative to control firms, suspect firms exhibit higher upward cash flow management in high enforcement countries than in low enforcement countries. Third, we show that suspect firms in high enforcement countries are more likely to eventually impair goodwill.","PeriodicalId":12319,"journal":{"name":"Financial Accounting eJournal","volume":"35 8 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82706769","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 8