Revista de Contabilidad最新文献

{"title":"Forty years of publications on strategic management accounting: Exploring the conceptual structure through co-word analysis","authors":"R. Pires, M. Alves, Lúcia Lima Rodrigues","doi":"10.6018/rcsar.491521","DOIUrl":"https://doi.org/10.6018/rcsar.491521","url":null,"abstract":"The main purpose of this paper is to explore the conceptual structure of strategic management accounting (SMA) research over the past 40 years to reveal and synthesize research trends in the field. To achieve this goal, we applied a bibliometric approach to analyze 326 peer-reviewed articles retrieved from Scopus and Web of Science databases. We conducted a co-word analysis using the VOSviewer software. The bibliometric analysis reveals the main outlets that published articles on SMA, and the most prolific authors and cited articles. Our findings reveal four main research streams in this field as follows: (i) SMA as a source of competitive advantage, (ii) strategic performance measurement systems, (iii) the SMA adoption and context of use, and (iv) the role of SMA in the strategic management process. For each research stream, we systematize some research themes. Additionally, our findings highlight potential emerging topics, such as the role of SMA in the integration of sustainability within companies’ strategy; and new settings of study, which represent opportunities for further research. Thus, this paper intends to support researchers in positioning their future research efforts.\u0000 El propósito de este artículo es explorar la estructura conceptual de la investigación sobre contabilidad de gestión estratégica (CGE) realizada en los últimos 40 años para revelar y sintetizar las tendencias de investigación. Para lograr este objetivo realizamos un estudio bibliométrico basado en 189 artículos revisados por pares obtenidos en las bases de datos Scopus y Web of Science que fueron analizados empleando el análisis de co-palabras y la herramienta VOSviewer. El análisis bibliométrico revela las principales revistas que han publicado artículos sobre CGE, así como los autores más prolíficos y artículos más citados. Nuestros resultados revelan tres líneas de investigación sobre CGE: (i) CGE como fuente de ventaja competitiva, (ii) la adopción, el contexto de uso, y las prácticas de CGE, y (iii) el papel de la CGE en el proceso de gestión estratégica. Además, nuestros resultados destacan posibles temas emergentes, como el papel de la CGE en la integración de la sostenibilidad en la estrategia de las empresas, y nuevos escenarios de estudio, que representan oportunidades para futuras investigaciones. Por lo tanto, este artículo pretende ayudar los investigadores a posicionar sus futuros esfuerzos de investigación.","PeriodicalId":516300,"journal":{"name":"Revista de Contabilidad","volume":"9 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141710693","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}

{"title":"The influence of leverage on accrual-based and real earnings management: Evidence from the UK","authors":"Basiem Al-Shattarat","doi":"10.6018/rcsar.499761","DOIUrl":"https://doi.org/10.6018/rcsar.499761","url":null,"abstract":"The crucial aim of this study is to observe the association between leverage and earnings management using accrual-based earnings management (AEM) and real earnings management (REM) practices among the firms listed on the London Stock Exchange. To keep unobservable elements under control, this study employs a Two-Stage Least Squares approach to analyse data from UK-listed firms for the years 2009-2020. The findings reveal that there is a significant negative association between leverage and earnings management through REM but not through AEM. The results are aligned with the premise that leverage works towards limiting REM activities, which eventually influences the accounting earnings quality. Therefore, high leverage calls for debt repayment to minimise the available cash for management’s non-optimal spending, depending on the lender-induced spending limitations. Further, this is predicted to minimise managers’ opportunistic behaviours and encourage their conservativeness. The study findings have implications for the regulatory and stock market players as it provides in-depth information concerning current practices in accounting and reporting.\u0000 El objetivo crucial de este estudio es observar la asociación entre el apalancamiento y la gestión de beneficios mediante prácticas de gestión de beneficios basadas en el devengo (AEM) y gestión de beneficios reales (REM) entre las empresas que cotizan en la Bolsa de Londres. Para mantener bajo control los elementos no observables, este estudio emplea un enfoque de mínimos cuadrados en dos etapas para analizar los datos de las empresas que cotizan en el Reino Unido durante los años 2009-2020. Los resultados revelan que existe una asociación negativa significativa entre el apalancamiento y la gestión de beneficios a través de REM, pero no a través de AEM. Los resultados concuerdan con la premisa de que el apalancamiento contribuye a limitar las actividades de REM, lo que a la larga influye en la calidad de los beneficios contables. Por lo tanto, un apalancamiento elevado exige el reembolso de la deuda para minimizar el efectivo disponible para gastos no óptimos de la dirección, en función de las limitaciones de gasto inducidas por el prestamista. Además, se predice que esto minimiza los comportamientos oportunistas de los directivos y fomenta su conservadurismo. Las conclusiones del estudio tienen implicaciones para los agentes reguladores y bursátiles, ya que proporciona información en profundidad sobre las prácticas actuales en materia de contabilidad y presentación de informes.","PeriodicalId":516300,"journal":{"name":"Revista de Contabilidad","volume":"18 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141710836","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}

{"title":"Empirical research to identify early warning indicators of insolvency in small and medium-sized enterprises (SMEs)","authors":"Andrés Navarro-Galera, María Elena Gómez-Miranda, Juan Lara-Rubio, Dionisio Buendía-Carrillo","doi":"10.6018/rcsar.554181","DOIUrl":"https://doi.org/10.6018/rcsar.554181","url":null,"abstract":"In Europe, the contribution of SMEs is enormous in terms of job creation and added value, although in recent years worrying levels of business failure and disappearance have occurred. These circumstances have led various researchers and international organisations to recognise the need for indicators that will enable the early detection of insolvency risks so that preventive and corrective measures can be taken. In this context, Directive (EU) 2019/1023 obliges EU Member States to define early warning indicators of insolvency, and in most cases has been transposed into the respective national regulations. The present paper aims to identify financial and non-financial indicators of insolvency risks in SMEs, to facilitate early detection. To this end, we analyse a sample of 1,736 Spanish SMEs, studying their behaviour for the period 2010-2020. Certain financial and non-financial factors are identified as early warning indicators of insolvency, a result that will prove useful both for the self-diagnosis of insolvency and for the design of restructuring plans to enhance SMEs’ chances of survival.\u0000 En Europa, la contribución de las PYMEs es enorme en términos de creación de empleo y valor añadido, aunque en los últimos años se han producido preocupantes niveles de quiebra y desaparición de empresas. Estas circunstancias han llevado a diversos investigadores y organismos internacionales a reconocer la necesidad de contar con indicadores que permitan detectar precozmente los riesgos de insolvencia para poder adoptar medidas preventivas y correctoras. En este contexto, la Directiva (UE) 2019/1023 obliga a los Estados miembros de la Unión Europea a definir indicadores de alerta temprana de insolvencia, y en la mayoría de los casos ha sido transpuesta a las respectivas normativas NACIONALES. El objetivo del presente trabajo es identificar indicadores financieros y no financieros de riesgos de insolvencia en las pymes, para facilitar su detección temprana. Para ello, se analiza una muestra de 1.736 PYMEs españolas, estudiando su comportamiento para el periodo 2010-2020. Se identifican determinados factores financieros y no financieros como indicadores de alerta temprana de insolvencia, un resultado que resultará útil tanto para el autodiagnóstico de insolvencia como para el diseño de planes de reestructuración que mejoren las posibilidades de supervivencia de las PYMEs.","PeriodicalId":516300,"journal":{"name":"Revista de Contabilidad","volume":"70 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141710987","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}

{"title":"Management and accounts of the disentailment process in Seville Cathedral (19th century): the sale of estates","authors":"Rocío Caro Puro, José Julián Hernández Borreguero, Alberto Donoso Anes","doi":"10.6018/rcsar.532831","DOIUrl":"https://doi.org/10.6018/rcsar.532831","url":null,"abstract":"Ecclesiastical disentailment has traditionally been associated with seizing real estate owned by \"dead hands\" for immediate sale. The administrative and accounting documentation of the Cathedral Chapter of Seville shows how it was forced to dispose of numerous properties in two phases during the 19th century. This was not carried out through confiscation but through orderly sales organised by the ecclesiastical institution itself, which is not mentioned in the historical-economic literature. This study analyses these alienations, their causes, procedures and consequences, as well as the financial problems the Cathedral Chapter of Seville faced, the application for numerous loans and the sale of real estate. The sales process, in our opinion, was serious, transparent and professional.\u0000 Tradicionalmente se ha asimilado desamortización eclesiástica con el proceso de incautación de bienes inmuebles en propiedad de las “manos muertas” para su inmediata venta. La documentación administrativa y contable del Cabildo Catedral de Sevilla muestra como en dos fases del siglo XIX se vio obligada a desprenderse de numerosos inmuebles, no mediante la confiscación, sino mediante un ordenado procedimiento de venta realizada por la propia institución eclesiástica, aspecto no mencionado por la literatura histórico-económica. El presente estudio analiza esas enajenaciones, sus causas, procedimiento y consecuencias. Se analizan los problemas financieros del Cabildo Catedral de Sevilla, la solicitud de numerosos créditos y la venta de inmuebles. El proceso de venta, en nuestra opinión, fue bastante serio, transparente y profesional.","PeriodicalId":516300,"journal":{"name":"Revista de Contabilidad","volume":"21 S2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141702885","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}

{"title":"New Public Governance and Public Value Co-creation: The Case of the European Court of Auditors Environmental Audits","authors":"Andreea Hancu-Budui, A. Zorio-Grima","doi":"10.6018/rcsar.519241","DOIUrl":"https://doi.org/10.6018/rcsar.519241","url":null,"abstract":"This article seeks to bring evidence on public value co-creation between public auditors and auditees, with a focus on the environment, as a matter of pressing interest for the citizens. We analyse data from performance audit reports issued by the European Court of Auditors: the tonality of audit conclusions and the corresponding auditees’ replies and the degree of acceptance and implementation of audit recommendations by the auditees. The analysis is performed using the theoretical perspectives of institutional logics and public value co-creation. We use qualitative and quantitative methods, including sentiment analysis and bivariate analysis. We find evidence that the EU public auditors increased their focus on environmental issues, following an increasingly trending institutional logic of focusing on non-financial topics of public interest. However, the tonality of environment-related audit conclusions and the auditees’ replies does not differ from the non-environment-related ones. We also demonstrate that public auditors co-created public value together with the auditees through a significantly higher acceptance of their recommendations in environmental than in non-environmental audits. The article contributes to the existing literature by using data from a supranational supreme audit institution and by applying an innovative research methodology in the audit field (sentiment analysis). It also offers practitioners valuable insights on performance audit’s evolution and impact. Although the data is limited to one supreme audit institution, this research can open future research avenues to perform comparative analysis with other supreme audit institutions or extend the research scope to content analysis of the substance of audit findings.\u0000 Este artículo busca aportar evidencias sobre la co-creación de valor público entre los auditores públicos y los entes auditados, poniendo el foco en el medio ambiente como un asunto de interés apremiante para la ciudadanía. Analizamos los datos de los informes de auditoría de gestión emitidos por el Tribunal de Cuentas Europeo: el tono de las conclusiones de auditoría y las correspondientes respuestas de los auditados y el grado de aceptación e implementación de las recomendaciones de auditoría por parte de los auditados. El análisis se realiza desde las perspectivas teóricas de las lógicas institucionales y la co-creación de valor público. Utilizamos métodos cualitativos y cuantitativos, incluido el análisis de sentimiento y el análisis bivariado. Encontramos evidencia de que los auditores públicos de la UE incrementaron su enfoque en temas medioambientales, emitiendo un número cada vez mayor de informes relacionados con el medioambiente, siguiendo una lógica institucional actual de la nueva gobernanza pública de enfocarse en temas no financieros de interés público. No obstante, la tonalidad de los informes de auditoría, las conclusiones y las respuestas de los auditados en auditorias medioambientales no dif","PeriodicalId":516300,"journal":{"name":"Revista de Contabilidad","volume":"107 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141714380","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}

{"title":"Audit Risk Management and Audit Effort in Small and Medium Audit Firms","authors":"Emiliano Ruiz-Barbadillo, Isabel Martínez-Conesa, José Serrano-Madrid, Helen Brown-Liburd","doi":"10.6018/rcsar.462211","DOIUrl":"https://doi.org/10.6018/rcsar.462211","url":null,"abstract":"The purpose of this paper is to analyze audit planning decisions of small and medium-sized Spanish audit firms and the resulting impact on audit risk and effort. Prior research examining audit risk overwhelmingly focuses on Big 4 audit firms, and little is known about how audit planning decisions influence audit risk in smaller firms, a significant part of the audit profession.  Thus, it is important to examine the planning judgments in small and medium sized audit firms and the link between planning risk assessments and the extent of audit effort put forth to achieve an acceptable level of audit risk. Using audit engagement specific data derived from publicly available databases and survey data, this study investigates the factors assessment of their client’s risk of material misstatement and whether the effort applied in performance of the audit engagement effectively responds to that risk. We find a significant statistical relationship between audit risk and audit effort, which provides empirical evidence that auditors modify the extent of audit effort based on perceived audit risk and brings into debate the work of the small firms. Additional analysis shows that audit effort (i.e., hours) is significantly influenced by the tenure and the timing of the audit engagement (i.e., peak audit season). However, audit engagements with longer tenure do not adjust their audit effort in response related to low management integrity or weak internal controls, which suggests familiarity, that is, auditors may not be as skeptical of management incentives. This paper contributes to debate about audit quality and whether the size of audit firms serves as an observable characteristic associated with higher audit quality.\u0000 El objetivo de este trabajo es analizar las decisiones de planificación de la auditoría de las pequeñas y medianas firmas de auditoría españolas en relación a la evaluación del riesgo y el esfuerzo de auditoría. Las investigaciones previas se centran casi en exclusiva en las 4 firmas de auditoría grandes y poco se sabe sobre cómo las decisiones de planificación de la auditoría influyen en el riesgo de auditoría en las firmas más pequeñas, una parte muy significativa de la profesión auditora. Por lo tanto, es importante examinar los juicios de planificación en firmas de auditoría pequeñas y medianas y el vínculo entre las evaluaciones de riesgo de planificación y el grado de esfuerzo realizado para lograr un nivel aceptable de riesgo de auditoría. Usando datos derivados de bases de datos disponibles públicamente y datos obtenidos a través de encuestas, este estudio investiga los factores que explican la evaluación del riesgo de error material del cliente y si el esfuerzo aplicado en el desempeño del trabajo de auditoría responde efectivamente a ese riesgo. Encontramos una relación estadística significativa entre el riesgo de auditoría y el esfuerzo de auditoría, lo que proporciona evidencia empírica de que los auditores modifican el alcance del","PeriodicalId":516300,"journal":{"name":"Revista de Contabilidad","volume":"67 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141691034","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}

{"title":"Market conditions, investor sentiment and disposition effect. An empirical study based on China's stock market","authors":"Liu Yang, Pujian Yang","doi":"10.6018/rcsar.529401","DOIUrl":"https://doi.org/10.6018/rcsar.529401","url":null,"abstract":"Using the transaction data of the stock market and financial data of listed companies from 2003 to 2021 in China, we explore the existence form of the disposition effect. Then, we combine the Bayesian learning process with the DSSW model to investigate the disposition effect's size and performance when market conditions differ from investors' irrational beliefs. We find the disposition effect in China is asymmetric V-shaped and negatively correlates with investor sentiment significantly. In addition, affected by sentiment, its performance is opposite in the bull market and bear market. The above research and conclusions have theoretical and practical significance for understanding the disposition effect, optimizing investors' decision-making, and strengthening the capital market infrastructure.\u0000 Utilizando los datos de transacciones del mercado de valores y los datos financieros de las empresas cotizadas de 2003 a 2021 en China, exploramos la forma de existencia del efecto de disposición. A continuación, combinamos el proceso de aprendizaje bayesiano con el modelo DSSW para investigar el tamaño y el rendimiento del efecto de disposición cuando las condiciones del mercado difieren de las creencias irracionales de los inversores. En China, el efecto de disposición tiene forma de V asimétrica y una correlación negativa significativa con el sentimiento de los inversores. Además, afectado por el sentimiento, su rendimiento es opuesto en el mercado alcista y en el mercado bajista. La investigación y las conclusiones anteriores tienen importancia teórica y práctica para comprender el efecto de disposición, optimizar la toma de decisiones de los inversores y reforzar la infraestructura del mercado de capitales.","PeriodicalId":516300,"journal":{"name":"Revista de Contabilidad","volume":"42 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141716803","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}

{"title":"Sustainability in the Waste Management Sector: An Analysis through the GRI Reports","authors":"Ana Lejárraga García, Esther Ortiz Martínez, Salvador Marín Hernández","doi":"10.6018/rcsar.530451","DOIUrl":"https://doi.org/10.6018/rcsar.530451","url":null,"abstract":"This work aims to determine if the characteristics of the sustainability reports issued by companies in the waste management sector of the European Union in their GRI reports are influenced by the particularities of these companies. Specifically, we study their location (country), the type of company, whether it is listed on a stock market, and its size and explain the relationships between sustainability GRI reports and these variables. The waste management sector is highly relevant in achieving sustainability objectives. Therefore, this paper is focused on studying the factors that determine the disclosure level of the sustainability reports of European companies in this sector.\u0000The background shows how certain factors that characterize the companies that issue sustainability reports influence the level of transparency or voluntary disclosure and the reports’ characteristics. Specifically, much of the research finds evidence that relates these aspects to factors such as the country in which the company is located, its size, its public or private nature, or the fact that the company is listed on a stock exchange, characteristics that are analyzed in this study.\u0000A statistical study is carried out on the reports reported in the GRI database for a sample of all the European companies in the waste management sector through the statistical technique of Chi-square contrast on the independence of variables, adjusted standardized residual analysis, and logistic regression model. The factors analyzed have been determined based on the experience of previous studies. This is the case of the country variable that has been characterized based on Hofstede´s dimensions.\u0000The results show that the factors analyzed are consistent and influence some of the elements selected for the characterization of the reports. Specifically, the type of report, its level of adherence, the inclusion of the OECD guidelines, the mention of the UNGC pact, or the existence of external verification depends on the company´s characteristics. Furthermore, the explanatory analysis was done by running a logistic regression model, allowing us to add knowledge to the current process of sustainability standardization and to explain the differences in sustainability information in a sector crucial for the circular economy.\u0000 Este trabajo se propone determinar si las características de los informes de sostenibilidad que emiten las empresas del sector de gestión de residuos de la Unión Europea en sus informes GRI están influenciadas por las particularidades de estas empresas, en concreto, por su ubicación (país), el tipo de empresa, si cotiza en un mercado de valores y su tamaño, así como explicar la relación entre los informes GRI de sostenibilidad y estas variables. El sector de gestión de residuos tiene gran relevancia en la consecución de los objetivos de sostenibilidad, no abundando la literatura relativa a la información no financiera de este sector, por lo que el presente trabajo se va a ","PeriodicalId":516300,"journal":{"name":"Revista de Contabilidad","volume":"42 176","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141696506","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}

{"title":"Debt maturity in Spanish small business startups","authors":"José Enrique Blasco Leante, Sonia Baños-Caballero, Pedro J. García‐Teruel","doi":"10.6018/rcsar.487681","DOIUrl":"https://doi.org/10.6018/rcsar.487681","url":null,"abstract":"This article studies debt maturity in startup firms. Specifically, it analyzes whether the maturity of the debt of these firms is different from that of older firms. It also studies whether these possible differences are maintained during periods of financial crisis. To this end, we use a sample of small Spanish firms during the period 2011-2020. The results indicate that new or recently created firms have debt with shorter maturities. This could be explained by the greater agency problems and information asymmetries that these firms face. Moreover, we observe that this result is maintained during periods of financial crisis.\u0000 Este artículo estudia el vencimiento de la deuda de empresas de nueva o reciente creación. En concreto, se analiza si el vencimiento de la deuda de estas empresas es diferente al de las empresas de mayor edad. Además, también se estudia si estas posibles diferencias se mantienen durante periodos de crisis financiera. Utilizando una muestra de pequeñas empresas españolas durante el período 2011-2020, los resultados indican que las empresas nuevas o de reciente creación tienen deuda con un menor vencimiento, lo que podría ser explicado por los mayores problemas de agencia e información asimétrica que tienen estas empresas. Además, se observa que este resultado se mantiene en periodos de crisis financiera.","PeriodicalId":516300,"journal":{"name":"Revista de Contabilidad","volume":"268 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141692227","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}

{"title":"Notes Readability and Discretionary Accruals","authors":"Ayman Aldahray","doi":"10.6018/rcsar.459281","DOIUrl":"https://doi.org/10.6018/rcsar.459281","url":null,"abstract":"Narrative disclosures should help external users to better understand managerial discretionary accruals. However, both narrative disclosures and accruals earnings are subject to managerial discretion. This study investigates the relationship expected between earnings management, as gauged by discretionary accruals (DA), and readability, as measured by the Fog Index (Li, 2008). Prior studies investigate the relationship in terms of the readability of the management discussion and analysis (MD&A) which is not directly related to the disclosure of accruals estimation and is also not an audited section of the company’s annual report. This study makes a unique contribution to the extant literature by providing empirical evidence on the association between DA and the readability of the notes to the financial statements (hereafter, Notes). Based on 1,021 observations for UK data drawn from FTSE All Share non-financial firms over the period 2005 to 2011, an ordinary least squares (OLS) regression finds a positive relation between DA and the readability of the Notes. A positive association shows that managers of firms who manage DA tend to produce more readable Notes. This result is likely due to the absence of an incentive to manage DA along with managers’ awareness of the associated risk of producing less-readable Notes, which might result in deeper analysis by auditors and, consequently, a greater chance of them detecting DA. Thus, market participants should not always rely on the greater readability of the Notes as an indicator of higher-quality financial statement numbers, as the results suggest that greater readability is associated with higher DA.\u0000 La información narrativa debería ayudar a los usuarios externos a comprender mejor los ajustes por periodificación discrecionales de la dirección. Sin embargo, tanto la información narrativa como los beneficios devengados están sujetos a la discrecionalidad de la dirección. Este estudio investiga la relación esperada entre la gestión de los beneficios, medida por los devengos discrecionales (DA), y la legibilidad, medida por el índice Fog (Li, 2008). Los estudios anteriores investigan la relación en términos de legibilidad de la discusión y análisis de la dirección (MD&A), que no está directamente relacionada con la divulgación de la estimación de los devengos y tampoco es una sección auditada del informe anual de la empresa. Este estudio aporta una contribución única a la literatura existente al proporcionar evidencia empírica sobre la asociación entre los DA y la legibilidad de las notas a los estados financieros. Basándose en 1.021 observaciones de datos del Reino Unido extraídos de empresas no financieras del FTSE All Share durante el período 2005 a 2011, una regresión por mínimos cuadrados ordinarios (MCO) encuentra una relación positiva entre los DA y la legibilidad de las Notas. Una asociación positiva muestra que los directivos de las empresas que gestionan los DA tienden a producir Notas más leg","PeriodicalId":516300,"journal":{"name":"Revista de Contabilidad","volume":"6 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141691232","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}