危机时期欧洲房地产企业的盈余管理

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2023-06-23 DOI:10.1108/pm-10-2022-0077

Håkon Bergseng Brannan, Christian Pjaaka, A. Oust, Ole Jakob Sønstebø

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引用次数: 1

摘要

目的在经济不景气的时期，对企业的期望发生了变化，对报告质量的需求也随之提高。本研究探讨了危机对房地产行业盈余管理的影响。设计/方法/方法数据包括在10家欧洲证券交易所上市的房地产公司2005年至2021年的财务报表。从四个标准应计项目模型中估计的可自由支配应计项目被用作盈余管理的代理，使用横断面行业和公司固定效应模型。作者研究了三次危机期间的盈余管理:金融危机(2008-2009年)、债务危机(2011-2012年)和COVID-19大流行(2020-2021年)。结果显示，在2019冠状病毒病危机期间，盈余管理较少，而在金融危机期间，盈余管理较多，尽管证据略弱。作者没有发现盈余管理与债务危机相关的重要证据。这些结果表明，房地产行业的利益相关者在危机时期应该格外警惕。独创性/价值本研究首次调查了欧洲房地产公司的盈余管理，重点关注危机的影响。

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Earnings management in European real estate firms during crisis periods

PurposeIn periods of economic distress, expectations for businesses change and there is a heightened need for reporting quality. This study investigates the impact of crises on earnings management in the real estate sector.Design/methodology/approachThe data consisted of financial statements from 2005 to 2021 from real estate firms listed on 10 European stock exchanges. Estimated discretionary accruals from four standard accruals models were used as a proxy for earnings management, using cross-sectional industry and firm fixed effects models. The authors examined earnings management during three crises: the financial crisis (2008–2009), the debt crisis (2011–2012) and the COVID-19 pandemic (2020–2021).FindingsThe results showed less earnings management during the COVID-19 crisis and more earnings management during the financial crisis, though with slightly weaker evidence. The authors did not find significant evidence of earnings management related to the debt crisis. These results suggest that stakeholders in the real estate sector should be extra vigilant in crisis periods.Originality/valueThis study is the first to investigate earnings management in European real estate firms, focusing on the impact of crises.

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.