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The Influence of Financial Crisis on Earnings Management
|關鍵字:||盈餘管理;金融海嘯;裁決性應計項目;實質盈餘管理;earnings management;financial crisis;discretionary accrual;real management||引用:||林宜勉、王韶濱、陳世良，2004，會計方法選擇與盈餘管理：以折舊方法為例。會計與公司治理，第一卷第一期，73-94頁 朱家賢，2011，達到分析師盈餘預測門檻之盈餘管理行為─以中國上市公司為例。 潘琪茹，2011，2008年金融風暴後企業盈餘管理之研究。 陳旭東，2011，金融風暴與企業盈餘管理之研究。 Abhijit, Barua, Steve Lin, and Andrew M. Sbaraglia, 2010, Earnings Management Using Discontinued Operations. The Accounting Review, 85, 1485-1509. Anne, Beatty L., Bin Ke, and Kathy R. Petroni, 2002, Earnings Management to Avoid Earnings Declines across Publicly and Privately Held Banks. The Accounting Review, 77, 547-570. Burgstahler, D., and Ilia Dichev, 1997, Earnings management to avoid earnings decreases and losses. Journal of Accounting and Economics, 24, 99–126. Cahan, S., 1992, The effect of antitrust investigations on discretionary accruals: A refined test of the political-cost hypothesis. The Acounting Review, 67, 77–95. Cheng, Qiang, T. Warfield, and M. 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This paper aims to investigate whether earnings management behavior during global financial crisis is different from the non-financial crisis period. We use discretionary accruals and real activities earnings management to measure the magnitude of earnings management respectively.
In the trend charts, the managers of enterprises tend to reduce the magnitude of earnings management by discretionary accruals but the magnitude of earnings management by real activities would increase and more than ever. Therefore, we infer that there is a substitution relationship between discretionary accruals and manipulation of real activities. This study test further the inference by two-sample t-test, the resultis consistent with the former.
Moreover, we also explore whether the factors of earnings management indistinct sample period are different. Empirical results demonstrate that no matter what manner we measure the magnitude of earnings management, the number of analysts who tracing the enterprise is more, the magnitude of earnings management is less. Furthermore, in the period before the financial crisis, sample with higher financial leverage, its magnitude of earnings management is higher. On the other hand, in the period after the financial crisis, sample with higher financial leverage, then its magnitude of earnings management is lower.
|Appears in Collections:||財務金融學系所|
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