پیوندهای مفید
آمار
| تعداد نشریات | 22 |
| تعداد شمارهها | 717 |
| تعداد مقالات | 10,309 |
| تعداد مشاهده مقاله | 72,281,052 |
| تعداد دریافت فایل اصل مقاله | 64,010,092 |
Investigating the asymmetric effects of macroeconomic variables on opportunistic behavior of managers | ||
| International Journal of Nonlinear Analysis and Applications | ||
| دوره 13، شماره 1، خرداد 2022، صفحه 3319-3332 اصل مقاله (915.92 K) | ||
| نوع مقاله: Research Paper | ||
| شناسه دیجیتال (DOI): 10.22075/ijnaa.2021.25365.2996 | ||
| نویسندگان | ||
| Shahrzad Seraj1؛ Hashem Nikoomaram* 1؛ ahmad Yaghoubnezhad2 | ||
| 1Department of Accounting, Faculty of Management and Economics, Science and Research Branch, Islamic Azad University, Tehran, Iran | ||
| 2Department of Accounting, Central Tehran Branch, Islamic Azad University, Tehran, Iran | ||
| تاریخ دریافت: 25 مهر 1400، تاریخ بازنگری: 06 آذر 1400، تاریخ پذیرش: 03 دی 1400 | ||
| چکیده | ||
| In general, macro-monetary and financial variables are among the factors that can affect the performance of companies. Exchange rates are one of the factors that affect the business relations of economic enterprises with the outside world. Exchange rate risk arises from changes in stock returns as a result of foreign exchange fluctuations. On the other hand, earnings management has always been a challenge for managers and investors, and in the meantime, most studies have focused on internal factors of earnings management and less on external variables, especially the impact of an important variable such as exchange rate. In this study, the asymmetric effects of exchange rate passage on earnings management of 131 companies listed on the Tehran Stock Exchange during the period 2008-2019 have been investigated using the generalized torque approach. Based on the results, positive currency shocks on SEM1 and SEM2 have a negative and statistically significant positive effect on SEM4 and negative shocks have a positive and significant effect on SEM3. While the degree of positive exchange rate shock passed only on SEM4 and the rate of positive exchange rate shock passed on SEM3 is greater than one, but in relation to other cases, the degree of the passage of the exchange rate is incomplete. Based on the results, the degree of exchange rate passage has asymmetric effects on earnings management depending on the type of currency shock and earnings management variable. | ||
| کلیدواژهها | ||
| Exchange rate؛ Earning Management؛ Generalized Method of Moments (GMM)؛ accruals؛ optional items؛ Revenue items and real items | ||
| مراجع | ||
|
[1] R. Alkebsee, A.A. Alhebry and G. Tian, Whose cash compensation has more influence on real earnings management, CEOs or CFOs?, J. Account. Emerg. Econ. 2021 (2021). [2] R. Baghumian, H. Mohammadi and M. Taheri, Economic downturn and earnings management, Manag. Account. 10 (2017) 29–42. [3] O. Ben Salah and A. Jarboui, Dividend policy, earnings management and the moderating effect of corporate governance in the French context, J. Financ. Econ. Policy 2021 (2021). [4] K.I. Bhatti, M.I.U. Husnain, A. Saeed, I. Naz and S.D. Hashmi, Are top executives important for earning management and firm risk? Empirical evidence from selected Chinese firms, Int. J. Emerg. Markets 2021 (2021). [5] E. Flores, E.F.J. Weffort, A.F. da Silva, L.N.G. Carvalho, Earnings management and macroeconomic crises: Evidences from Brazil and USA capital markets, J. Account. Emerg. Econ. 6(2) (2016) 179–202. [6] G. Gong, Y. Li and L. Zhou, Do management earnings forecasts fully reflect information in past earnings changes?, Int. J. Account. Inf. Manag. 27 (2019) 373–406. [7] H.R. Ismael and H. Kamel, Internal audit quality and earnings management: evidence from the UK, Manag. Audit. J. 36 (2021) 951–978. [8] G. Jensen, D. Solberg and T. Zorn, Simultaneous determination of insider ownership, debt, and dividend policies, J. Financ. Quant. Anal. 27 (1992) 247–263. [9] S. Khajavi, G. Rezaei and M. Bagheri, Investigating the mediating role of managers’ capabilities on the relationship between tax avoidance and the risk of falling stock prices of companies listed on the Tehran Stock Exchange, Financ. Manag. Strategy 6 (2018) 34–11. [10] K.S. Kim, J.H. Lee and Y.W. Park, Acquiring firms’ earnings management in stock-for-stock mergers within Korean business groups, Manag. Finance 48(1) (2021) 27–48. [11] A. Kouki, Mandatory, IFRS adoption, investor protection and earnings management: A data analysis of Germany, France and Belgium listed companies, Int. J. Account. Inf. Manag. 26 (2018) 187–204. [12] R. Kumala and S.V. Siregar, Corporate social responsibility, family ownership and earnings management: the case of Indonesia, Soc. Respons. J. 17 (2021) 69–86. [13] N. Lassoued, Capital structure and earnings quality in microfinance institutions, Int. J. Manag. Finance 2021 (2021). [14] J.J. Lee, Y. Lim and H.I. Oh, Does customer satisfaction matter to managers’ earnings forecasts and stock returns?, Eur. J. Market. 52 (2018) 2026–2051. [15] K. Lee, S. Ni and R.A. Ratti, Oil shocks and the macroeconomy: The role of price volatility, Energy J. 16 (1995) 39–56. [16] Y. Li, X. Li, E. Xiang and H.G. Djajadikerta, Financial distress, internal control, and earnings management: Evidence from China, J. Contemp. Account. Econ.16(3) (2020) 100210. [17] W. Lin and M. Rong, Impacts of other comprehensive income disclosure on earnings management, Nankai Bus. Rev. Int. 3(1) (2012) 93–101. [18] D. Mangala and N. Singla, Do corporate governance practices restrain earnings management in banking industry? Lessons from India, J. Financ. Report. Account. (2021). [19] T. Ming, W. Teng and S. Jodaki, A model to investigate the effect of information technology and information systems on the ease of managers’ decision-making, Kybernetes 50 (2021) 100–117. [20] S.A. Mir Arab Baigi, H. Makari and M. Nazarizadeh, Investigating the theory of popularity in the Iranian financial market and its relationship with fluctuations in stock returns and stock returns in the Tehran Stock Exchange, Financ. Knowledge Secur. Anal. 13 (2020) 135–121. [21] F. Mohammad Rezaei and S.L. Ahmadi, Profit management in listed companies and non-listed companies, Empirical Account. Res. 9 (2019) 282–256. [22] G. Moradi Roodposhti, F. Rahnamay Roodposhty and Z. Hajiha, Provide a comprehensive profit management model based on critical thinking using fuzzy ANP method, Manag. Account. Audit. Knowledge 10(40) (2021) 121–134. [23] P.K. Ozili and E. Outa, Bank earnings management using commission and fee income: The role of investor protection and economic fluctuation, J. Appl. Account. Res. 20 (2019) 172–189. [24] A. Riahi-Belkaoui, Is earnings management affected by human development and economic freedom?, Rev. Account. Finance 3 (2004) 115–127. [25] A.J. Simamora, Crime rate, real earnings management and managerial ability, Corp. Govern. Int. J. Bus. Soc. 2021 (2021). [26] L. Sun and O. Al-Farooque, An exploratory analysis of earnings management practices in Australia and New Zealand, Int. J. Account. Info. Manag. 26 (2018) 81–114. [27] R. Tehrani, A. Drikandeh, K. Navabizand, A. Arian and S.H. Hosseini, Investigating the relationship between exchange rate fluctuations and stock returns of exporting companies listed on the Tehran Stock Exchange, Financ. Knowledge Secur. Anal. 6 (2013) 87–101. [28] P. Velte, The bidirectional relationship between ESG performance and earnings management–empirical evidence from Germany, J. Global Respons. 10 (2019) 322–338. | ||
|
آمار تعداد مشاهده مقاله: 16,504 تعداد دریافت فایل اصل مقاله: 9,817 |
||