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Author: Vasiliki E. Athanasakou
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Financial Reporting Standard No3 (FRS 3): Reporting Financial Performance, which came into force in 1993, increased UK firms' discretion in classifying exceptional items. We examine how this increased discretion affected their use of classificatory smoothing and inter-temporal smoothing through abnormal accruals to offset temporary shocks in performance and highlight sustainable profitability. Descriptive and multivariate analysis reveals a significant decline in income smoothing using abnormal accruals after FRS 3. The decline occurs in firms that used classificatory choices to a greater extent after FRS 3 to smooth income and is robust to controls for the effect of concurrent corporate governance regulation. Our results suggest that enhancing disclosure and discretion to classify non-recurring items within the income statement can reduce the costs to firms of achieving their income smoothing objectives.
Author: Vasiliki E. Athanasakou
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Financial Reporting Standard No3 (FRS 3): Reporting Financial Performance, which came into force in 1993, increased UK firms' discretion in classifying exceptional items. We examine how this increased discretion affected their use of classificatory smoothing and inter-temporal smoothing through abnormal accruals to offset temporary shocks in performance and highlight sustainable profitability. Descriptive and multivariate analysis reveals a significant decline in income smoothing using abnormal accruals after FRS 3. The decline occurs in firms that used classificatory choices to a greater extent after FRS 3 to smooth income and is robust to controls for the effect of concurrent corporate governance regulation. Our results suggest that enhancing disclosure and discretion to classify non-recurring items within the income statement can reduce the costs to firms of achieving their income smoothing objectives.
Author: Averil Rei Preston-Thomas
Publisher: Ann Arbor, Mich. : University Microfilms International
ISBN:
Category : Corporations
Languages : en
Pages : 354
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Book Description
Author: Joshua Ronen
Publisher: Springer Science & Business Media
ISBN: 0387257713
Category : Business & Economics
Languages : en
Pages : 587
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Book Description
This book is a study of earnings management, aimed at scholars and professionals in accounting, finance, economics, and law. The authors address research questions including: Why are earnings so important that firms feel compelled to manipulate them? What set of circumstances will induce earnings management? How will the interaction among management, boards of directors, investors, employees, suppliers, customers and regulators affect earnings management? How to design empirical research addressing earnings management? What are the limitations and strengths of current empirical models?
Author: Dr.salma youssef
Publisher: ibrahim elnoshokaty
ISBN:
Category : Business & Economics
Languages : en
Pages :
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Book Description
Thе ѕtruсturе оf thіѕrеvіеw іѕ dеѕіgnеd tо аѕѕеѕѕthе іmроrtаnсе оf еасh еlеmеnt аѕ раrt оf thе оvеrаll рісturе. Соnѕеquеntly, thеrе wіll bе nо dеtаіlеd dіѕсuѕѕіоnѕ оf сеrtаіn рареrѕ реr ѕе, аlthоugh thеy wіll bе сіtеd іn thе rеfеrеnсеѕ аnd іn thе арреndісеѕ. Dесhоw аnd Ѕkіnnеr (2000) dіѕсuѕѕеѕ thе bаѕіс dеfіnіtіоn оf mаnірulаtіоn, but thеy mаіnly ѕеt оut tо іnvеѕtіgаtе а nеw оrіеntаtіоn іn thе rеѕеаrсh bаѕеd оn nеw mоtіvаtіоnѕ, lіnkеd tо mаrkеt еxресtаtіоnѕ. Іn dоіng ѕо, thеіr gоаl іѕ tо rесоnсіlе thе vіеwѕ оf асаdеmісѕ аnd рrасtіtіоnеrѕ аbоut еаrnіngѕ mаnаgеmеnt. Hеаly аnd Wаhlеn (1999), оn thе оthеr hаnd, аіm tо рrоvіdе uѕеful іnfоrmаtіоn fоr ѕtаndаrd ѕеttіng рurроѕеѕ. Fоr іnѕtаnсе, thеy еmрhаѕіzе thе ѕресіfіс ассruаlѕ thаt hаvе bееn fоund іn thе lіtеrаturе tо bе раrtісulаrly frеquеntly "mаnаgеd". Thеy thеn іnvеѕtіgаtе thе еffесt оf mаnірulаtіоn оn mаrkеt раrtісіраntѕ. Lіkе Dесhоw аnd Ѕkіnnеr (2000), аlthоugh thеy соnѕіdеr thе роѕѕіbіlіty thаt uѕеrѕ mаy nоt bе аblе tо mаkе аррrорrіаtе аdjuѕtmеntѕ tо еlіmіnаtе thе еffесt оf thе mаnірulаtіоn, thеy mоѕtly rеmаіn wіthіn thе соnсерt оf mаrkеt еffісіеnсy
Author: Franklin Allen
Publisher: MIT Press
ISBN: 9780262011778
Category : Business & Economics
Languages : en
Pages : 524
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Book Description
Why do different countries have such different financial systems? Is one system better than the other? This text argues that the view that market-based systems are best is simplistic, and suggests that a more nuanced approach is necessary.
Author: Georg Northoff
Publisher: Elsevier
ISBN: 0128227397
Category : Medical
Languages : en
Pages : 692
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Book Description
From Brain Dynamics to the Mind: Spatiotemporal Neuroscience explores how the self and consciousness is related to neural events. Sections in the book cover existing models used to describe the mind/brain problem, recent research on brain mechanisms and processes and what they tell us about the self, consciousness and psychiatric disorders. The book presents a spatiotemporal approach to understanding the brain and the implications for artificial intelligence, novel therapies for psychiatric disorders, and for ethical, societal and philosophical issues. Pulling concepts from neuroscience, psychology and philosophy, the book presents a modern and complete look at what we know, what we can surmise, and what we may never know about the distinction between brain and mind. Reviews models of understanding the mind/brain problem Identifies neural processes involved in consciousness, sense of self and brain function Includes concepts and research from neuroscience, psychology, cognitive science and philosophy Discusses implications for AI, novel therapies for psychiatric disorders and issues of ethics Suggests experimental designs and data analyses for future research on the mind/brain issue
Author: Bernard Fichet
Publisher: Springer Science & Business Media
ISBN: 3642133126
Category : Mathematics
Languages : en
Pages : 460
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Book Description
The growing capabilities in generating and collecting data has risen an urgent need of new techniques and tools in order to analyze, classify and summarize statistical information, as well as to discover and characterize trends, and to automatically bag anomalies. This volume provides the latest advances in data analysis methods for multidimensional data which can present a complex structure: The book offers a selection of papers presented at the first Joint Meeting of the Société Francophone de Classification and the Classification and Data Analysis Group of the Italian Statistical Society. Special attention is paid to new methodological contributions from both the theoretical and the applicative point of views, in the fields of Clustering, Classification, Time Series Analysis, Multidimensional Data Analysis, Knowledge Discovery from Large Datasets, Spatial Statistics.
Author: Peter J. Montiel
Publisher: Cambridge University Press
ISBN: 1139498339
Category : Business & Economics
Languages : en
Pages : 779
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Book Description
The macroeconomic experience of emerging and developing economies has tended to be quite different from that of industrial countries. Compared to industrial countries, emerging and developing economies have tended to be much more unstable, with more severe boom/bust cycles, episodes of high inflation and a variety of financial crises. This textbook describes how the standard macroeconomic models that are used in industrial countries can be modified to help understand this experience and how institutional and policy reforms in emerging and developing economies may affect their future macroeconomic performance. This second edition differs from the first in offering: extensive new material on themes such as fiscal institutions, inflation targeting, emergent market crises, and the Great Recession; numerous application boxes; end-of-chapter questions; references for each chapter; more diagrams, less taxonomy, and a more reader-friendly narrative; and enhanced integration of all parts of the work.
Author: Thorsten Beck
Publisher: Edward Elgar Publishing
ISBN: 1785360515
Category : Business & Economics
Languages : en
Pages : 615
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Book Description
This Handbook provides a comprehensive overview of the relationship between financial and real sector development. The different chapters, written by leading contributors in the field, survey research on the importance of financial development for economic growth, the causes and consequences of financial fragility, the historic development of financial systems in several major economies and regions of the world, and the regulatory and supervisory underpinnings of financial sector development.
Author: Mr.Paul Cashin
Publisher: International Monetary Fund
ISBN: 1451940238
Category : Business & Economics
Languages : en
Pages : 18
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Book Description
This paper estimates a simple consumption-smoothing model of the French current account, and examines its capacity to predict recent developments in France’s external performance. The model views the current account as a buffer through which private agents can smooth consumption over time in response to temporary disturbances to output, investment, and government expenditure. The empirical results indicate that the model performs well overall, and predicts correctly the sharp turnaround in France’s external accounts observed in the past three years—a feature of the data that conventional models of trade flows, based on income and relative price variables, appear unable to explain.
