Вредносна релевантност управљаних зарада у индијским фирмама: анализа утицаја конвергенције МСФИ коришћењем динамичких панел модела
Sažetak
Студија истражује однос између управљања зарадама и вредносне релевантности рачуноводствених информација индијских фирми које котирају на берзи истражујући три различита начина управљања зарадом – укупна, краткорочна и дугорочна дискрециона обрачунавања. Поред тога, студија истражује утицај конвергентних међународних стандарда финансијског извештавања (МСФИ), познатих као индијски рачуноводствени стандарди (ИндРС), на управљање зарадом, што заузврат утиче на релевантност вредности. Ова студија је прва у Индији која анализира различите ефекте управљања краткорочним и дугорочним зарадама на релевантност вредности и бави се питањем ендогености у моделу релевантности цене вредности кроз динамичко моделирање панела уз контролу употребе ИндРС. Студија проналази значајан ефекат управљања краткорочним и дугорочним обрачунским разграничењима на релевантност вредности и позитиван утицај ИндРС на однос између управљања зарадама и вредности фирме.
Reference
Achleitner, A.K., Günther, N., Kaserer, C., & Siciliano, G. (2014). Real earnings management and accrual-based earnings management in family firms. European Accounting Review, 23 (3), 431–461.
Agrawal, K., & Chatterjee, C. (2015). Earnings Management and Financial Distress: Evidence from India. Global Business Review, 16, 140–154.
Al-Shattarat, B. (2021). The consequence of earnings management through discretionary accruals on the value relevance in Saudi Arabia. Cogent Business & Management, 8 (1), 1886473.
Ball, R. (2006). International Financial Reporting Standards (IFRS): pros and cons for investors. Accounting and Business Research, 36 (1), 5–27.
Bansal, M., & Garg, A. (2021). Do high-quality standards ensure higher accounting quality? A study in India. Accounting Research Journal, 34 (6), 597–613.
Barth, M.E., Beaver, W.H., & Landsman, W.R. (2001). The relevance of the value relevance literature for financial accounting standard setting: another view. Journal of Accounting and Economics, 31 (1-3), 77-104.
Barth, M.E., Li, K., & McClure, C.G. (2023). Evolution in Value Relevance of Accounting Information. The Accounting Review, 98 (1), 1–28.
Beaver, W.H. (2002). Perspectives on Recent Capital Market Research. Source: The Accounting Review, 77 (2), 453–474.
Callao, S., & Jarne, J.I. (2010). Have IFRS affected earnings management in the European Union? Accounting in Europe, 7 (2), 159–189.
Chen, H., Tang, Q., Jiang, Y., & Lin, Z. (2010). The Role of International Financial Reporting Standards in Accounting Quality: Evidence from the European Union. Journal of International Financial Management and Accounting, 21 (3), 220–278.
Christensen, H.B., Lee, E., Walker, M., & Zeng, C. (2015). Incentives or Standards: What Determines Accounting Quality Changes around IFRS Adoption? European Accounting Review, 24 (1), 31–61.
Dechow, P.M., Sloan, R.G., & Sweeney, A.P. (1995). Detecting Earnings Management. The Accounting Review, 70 (2), 193–225.
Ecker, F., Francis, J., Olsson, P., & Schipper, K. (2013). Estimation sample selection for discretionary accruals models. Journal of Accounting and Economics, 56 (2–3), 190–211.
Gakhar, D.V. (2014). Earnings management practices in India: A study of auditor’s perception. Journal of Financial Crime, 21 (1), 100–110.
Ghalke, A., Chakravorty, C., & Rao, S.V. D. N. (2018). Earnings management in IPO bound firms: Evidence from Indian SME exchanges. Asian Economic and Financial Review, 8 (8), 1126–1139.
Ghazali, A.W., Shafie, N.A., & Sanusi, Z.M. (2015). Earnings Management: An Analysis of Opportunistic Behaviour, Monitoring Mechanism and Financial Distress. Procedia Economics and Finance, 28, 190–201.
Goel, S. (2018). Earnings management in corporate enterprises in India: A test for multi-nationality, reputation and related variables. International Journal of Emerging Markets, 13 (6), 1820–1834.
Healy, P.M. (1985). The effect of bonus schemes on accounting decisions. Journal of Accounting and Economics, 7 (1-3), 85–107.
Jackson, A.B. (2018). Discretionary Accruals: Earnings Management.. or Not? Abacus, 54(2), 136–153.
Jones, J.J. (1991). Earnings Management During Import Relief Investigations. Journal of Accounting Research, 29 (2), 193–228.
Kothari, S.P., Leone, A.J., & Wasley, C.E. (2005). Performance matched discretionary accrual measures. Journal of Accounting and Economics, 39 (1), 163–197.
Kouki, A. (2018a). IFRS and value relevance : A comparison approach before and after IFRS conversion in the European countries. Journal of Applied Accounting Research, 19 (1), 60–80.
Kouki, A. (2018b). Mandatory IFRS adoption, investor protection and earnings management: A data analysis of Germany, France and Belgium listed companies. International Journal of Accounting and Information Management, 26 (1), 187–204.
Lee, H.Y., & Son, M. (2009). Earnings announcement timing and earnings management. Applied Financial Economics, 19 (4), 319–326.
Marquardt, C.A., & Wiedman, C.I. (2004). The effect of earnings management on the value relevance of accounting information. Journal of Business Finance and Accounting, 31(3–4), 297–332.
Nagar, N., & Sen, K. (2016). Earnings management in India: Managers’ fixation on operating profits. Journal of International Accounting, Auditing and Taxation, 26, 1–12.
Noronha, C., Zeng, Y., & Vinten, G. (2008). Earnings management in China: An exploratory study. Managerial Auditing Journal, 23 (4), 367–385.
Ohlson, J.A. (1995). Earnings, book values and dividends in equity valuation. Contemporary Accounting Research, 11 (2), 661–687.
Ratnaningrum, R., Rahmawati, R., Djuminah, D., & Widagdo, A. K. (2021). The Value Relevance of Earnings in the Presence of Earnings Management: Indonesia as Evidence. Global Business Review, in press.
Soliman, W.S.M.K., & Ali, K.M. (2020). An investigation of the value relevance of deferred tax: the mediating effect of earnings management. Investment Management and Financial Innovations, 17 (1), 317–328.
Shette, R., Kuntluru, S., & Korivi, S.R. (2016). Opportunistic earnings management during initial public offerings: Evidence from India. Review of Accounting and Finance, 15 (3), 352–371.
Whelan, C., & Mcnamara, R. (2004). The Impact of Earnings Management on the Value-relevance of Financial Statement Information. Retreived from: https://ssrn.com/abstract=585704
Zeghal, D., Chtourou, S.M., & Fourati, Y.M. (2012). The effect of mandatory adoption of IFRS on earnings quality: Evidence from the European union. Journal of International Accounting Research, 11 (2), 1–25.
The Author wishes to submit the Work to SJM for publication. To enable SJM to publish the Work and to give effect to the parties’ intention set forth herein, they have agreed to cede the first right to publication and republication in the SJM Journal.
Cession
The Author hereby cedes to SJM, who accepts the cession, to the copyright in and to the paper.
The purpose of the cession is to enable SJM to publish the Work, as first publisher world-wide, and for republication in the SJM Journal, and to grant the right to others to publish the Work world-wide, for so long as such copyright subsists;
SJM shall be entitled to edit the work before publication, as it deems fit, subject to the Authors approval
The Author warrants to SJM that:
- the Author is the owner of the copyright in the Work, whether as author or as reassigned from the Author’s employee and that the Author is entitled to cede the copyright to SJM;
- the paper (or any of its part) is not submitted or accepted for publication in any other Journal;
- the Work is an original work created by the Author;
- the Author has not transferred, ceded, or assigned the copyright, or any part thereof, to any third party; or granted any third party a licence or other right to the copyright, which may affect or detract from the rights granted to SJM in terms of this agreement.
The Author hereby indemnifies the SJM as a body and its individual members, to the fullest extent permitted in law, against all or any claims which may arise consequent to the warranties set forth.
No monetary consideration shall be payable by SJM to the Author for the cession, but SJM shall clearly identify the Author as having produced the Work and ensure that due recognition is given to the Author in any publication of the Work.
Should SJM, in its sole discretion, elect not to publish the Work within 1 year after the date of this agreement, the cession shall lapse and be of no further effect. In such event the copyright shall revert to the Author and SJM shall not publish the Work, or any part thereof, without the Author’s prior written consent.