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Author: Jennifer Francis
Publisher: Now Publishers Inc
ISBN: 1601981147
Category : Business & Economics
Languages : en
Pages : 97
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Book Description
This review lays out a research perspective on earnings quality. We provide an overview of alternative definitions and measures of earnings quality and a discussion of research design choices encountered in earnings quality research. Throughout, we focus on a capital markets setting, as opposed, for example, to a contracting or stewardship setting. Our reason for this choice stems from the view that the capital market uses of accounting information are fundamental, in the sense of providing a basis for other uses, such as stewardship. Because resource allocations are ex ante decisions while contracting/stewardship assessments are ex post evaluations of outcomes, evidence on whether, how and to what degree earnings quality influences capital market resource allocation decisions is fundamental to understanding why and how accounting matters to investors and others, including those charged with stewardship responsibilities. Demonstrating a link between earnings quality and, for example, the costs of equity and debt capital implies a basic economic role in capital allocation decisions for accounting information; this role has only recently been documented in the accounting literature. We focus on how the precision of financial information in capturing one or more underlying valuation-relevant constructs affects the assessment and use of that information by capital market participants. We emphasize that the choice of constructs to be measured is typically contextual. Our main focus is on the precision of earnings, which we view as a summary indicator of the overall quality of financial reporting. Our intent in discussing research that evaluates the capital market effects of earnings quality is both to stimulate further research in this area and to encourage research on related topics, including, for example, the role of earnings quality in contracting and stewardship.
Author: Jennifer Francis
Publisher: Now Publishers Inc
ISBN: 1601981147
Category : Business & Economics
Languages : en
Pages : 97
Get Book Here
Book Description
This review lays out a research perspective on earnings quality. We provide an overview of alternative definitions and measures of earnings quality and a discussion of research design choices encountered in earnings quality research. Throughout, we focus on a capital markets setting, as opposed, for example, to a contracting or stewardship setting. Our reason for this choice stems from the view that the capital market uses of accounting information are fundamental, in the sense of providing a basis for other uses, such as stewardship. Because resource allocations are ex ante decisions while contracting/stewardship assessments are ex post evaluations of outcomes, evidence on whether, how and to what degree earnings quality influences capital market resource allocation decisions is fundamental to understanding why and how accounting matters to investors and others, including those charged with stewardship responsibilities. Demonstrating a link between earnings quality and, for example, the costs of equity and debt capital implies a basic economic role in capital allocation decisions for accounting information; this role has only recently been documented in the accounting literature. We focus on how the precision of financial information in capturing one or more underlying valuation-relevant constructs affects the assessment and use of that information by capital market participants. We emphasize that the choice of constructs to be measured is typically contextual. Our main focus is on the precision of earnings, which we view as a summary indicator of the overall quality of financial reporting. Our intent in discussing research that evaluates the capital market effects of earnings quality is both to stimulate further research in this area and to encourage research on related topics, including, for example, the role of earnings quality in contracting and stewardship.
Author: Kıymet Tunca Çalıyurt
Publisher: Springer Nature
ISBN: 9811519285
Category : Business & Economics
Languages : en
Pages : 290
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Book Description
This book continues the discussion on recent developments relating to ethical and sustainable issues in accounting & finance from Ethics and Sustainability in Accounting and Finance, Volume I. Accounting is often seen as a technical discipline that records, classifies and reports financial transactions. However, since the financial information produced concerns all interest groups both within and outside the enterprise, accounting also has social characteristics and involves multi-faceted duties and responsibilities. As such, in addition to basic principles and accepted rules and standards in the field, this book focuses on the ethical aspects and fundamentals of this profession that accountants should also take into consideration, as this is the only way to build and preserve society’s confidence in accounting and increase its social credibility.
Author: Christopher Nobes
Publisher: Pearson UK
ISBN: 129229650X
Category : Comparative accounting
Languages : en
Pages : 942
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Book Description
Now in its 14th edition, Nobes and Parker's Comparative International Accounting is a comprehensive and coherent text on international financial reporting. It is primarily designed for undergraduate and postgraduate courses in comparative and international aspects of financial reporting. The book explores the conceptual and contextual found.
Author: Gilbert Amahoro Ndayisaba
Publisher: Taylor & Francis
ISBN: 1003815456
Category : Business & Economics
Languages : en
Pages : 228
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Book Description
This book integrates elements from agency theory and signalling theory and draws upon recent changes in the Australian payout policy and incentives pay for risk-averse employees to provide theoretical and empirical analyses that explain the paradox of the popularity of on-market stock buyback activities in a market environment characterised by reasonably high share prices. The authors utilise a dynamic model that rationalises this paradox, which is divided into three components. The first component predicts that executives may be conducting on-market stock buyback programmes (SBPs) to adjust equity-based remuneration for risk-averse employees, thereby motivating their performance without granting them additional costly equity incentive plans (EIPs); the second component predicts that companies are likely to invest in SBPs to increase the ownership stakes of employees in the firm, thereby inducing risk-averse employees to increase their productivity which increases firm value; while the third component predicts that shareholders would benefit from incentives-induced buybacks if a firm’s opportunity cost of funds spent on buybacks is less than its inverse price-to-earnings ratio. The authors’ findings highlight differences in the market responses towards announced repurchase motives, implying that not all incentives-induced buybacks are value-destructive buybacks. Specifically, the widespread assumption that SBPs stifle investments in human and capital stock may be subjective as the findings show that incentives-induced buybacks may be value-creative or value-destructive depending on share repurchase motives of SBPs. This book will be a useful guide for scholars and researchers of finance, corporate finance, financial economics and financial accounting.
Author: Lourenço, Isabel
Publisher: IGI Global
ISBN: 1466684542
Category : Business & Economics
Languages : en
Pages : 371
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Book Description
Accounting has often been described as the language of business. As the increasing competition of overseas markets begins to affect even the smallest local companies, many more business professionals must become fluent in accounting principles and practice. Standardization of Financial Reporting and Accounting in Latin American Countries highlights the recent move to International Financial Reporting Standards (IFRS) and addresses some of the concerns raised due to cultural differences and the level of enforcement of these standards in separate countries. Describing the evolution of both financial and managerial accounting due to the adoption of IFRS, this book is an essential reference source for both students and seasoned professionals in the fields of accounting, finance, and related management fields, especially those with an international emphasis.
Author: Florencia Roca
Publisher: Createspace Independent Publishing Platform
ISBN: 9781541253209
Category :
Languages : en
Pages : 384
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Book Description
A guide for the appraisal of projects from the financial point of view. A book ready to be applied, rich in examples; prepared by financial consultants and professors. The book includes links to download all the Excel spreadsheets, as well as explanation videos recorded by the authors. Facebook page: www.facebook.com/project.evaluation
Author:
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 94
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Book Description
Author: Eero Kasanen
Publisher:
ISBN: 9789517020633
Category :
Languages : en
Pages : 38
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Book Description
Author: Catalin Albu
Publisher: Emerald Group Publishing
ISBN: 1781909393
Category : Business & Economics
Languages : en
Pages : 343
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Book Description
This volume examines the accounting issues within Central and Eastern Europe, looking back to the fall of communism (1980s-90s) and its effect on the countries' accounting and business models.
Author: Melissa A. Hardy
Publisher: SAGE
ISBN: 9780803951280
Category : Mathematics
Languages : en
Pages : 100
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Book Description
It is often necessary for social scientists to study differences in groups, such as gender or race differences in attitudes, buying behavior, or socioeconomic characteristics. When the researcher seeks to estimate group differences through the use of independent variables that are qualitative, dummy variables allow the researcher to represent information about group membership in quantitative terms without imposing unrealistic measurement assumptions on the categorical variables. Beginning with the simplest model, Hardy probes the use of dummy variable regression in increasingly complex specifications, exploring issues such as: interaction, heteroscedasticity, multiple comparisons and significance testing, the use of effects or contrast coding, testing for curvilinearity, and estimating a piecewise linear regression.
