مقاله انگلیسی مدیریت سود و تعدیل و اصلاح نظری در الگوی عملکرد ساختار سرمایه
ترجمه نشده

مقاله انگلیسی مدیریت سود و تعدیل و اصلاح نظری در الگوی عملکرد ساختار سرمایه

عنوان فارسی مقاله: مدیریت سود و تعدیل و اصلاح نظری در الگوی عملکرد ساختار سرمایه: شواهدی از اقتصاد APTA
عنوان انگلیسی مقاله: Earnings management and theoretical adjustment in capital structure performance pattern: Evidence from APTA economies
مجله/کنفرانس: Borsa Istanbul Review - مرور بورسا استانبول
رشته های تحصیلی مرتبط: مدیریت، حسابداری
گرایش های تحصیلی مرتبط: مدیریت مالی، حسابداری مالی
کلمات کلیدی فارسی: APTA، ساختار سرمایه، مدیریت سود، اندازه شرکت، قدرت نفوذ، مدل های داده پنلی
کلمات کلیدی انگلیسی: APTACapital structureEarnings managementFirm sizeLeveragePanel data models
نوع نگارش مقاله: مقاله پژوهشی (Research Article)
شناسه دیجیتال (DOI): https://doi.org/10.1016/j.bir.2020.12.001
دانشگاه: National University of Computer and Emerging Sciences, Islamabad Pakistan
صفحات مقاله انگلیسی: 17
ناشر: الزویر - Elsevier
نوع ارائه مقاله: ژورنال
نوع مقاله: ISI
سال انتشار مقاله: 2021
ایمپکت فاکتور: 3.924 در سال 2020
شاخص H_index: 21 در سال 2021
شاخص SJR: 0.682 در سال 2020
شناسه ISSN: 2214-8450
شاخص Quartile (چارک): Q2 در سال 2020
فرمت مقاله انگلیسی: PDF
وضعیت ترجمه: ترجمه نشده است
قیمت مقاله انگلیسی: رایگان
آیا این مقاله بیس است: بله
آیا این مقاله مدل مفهومی دارد: دارد
آیا این مقاله پرسشنامه دارد: ندارد
آیا این مقاله متغیر دارد: دارد
کد محصول: E15438
رفرنس: دارای رفرنس در داخل متن و انتهای مقاله
نوع رفرنس دهی: vancouver
فهرست مطالب (انگلیسی)

Abstract

Keywords

JEL Classifications

1. Introduction

2. Literature and hypotheses development

3. Research methods

4. Empirical analysis

5. Conclusions

Declaration of competing interest

References

بخشی از مقاله (انگلیسی)

Abstract

This study examines the role of earnings management in the relationship between firm performance and capital structure, dividing earnings management into discretionary and nondiscretionary accruals to test established theories on the capital structure. Using data on 802 companies in the member countries of the Asia-Pacific Trade Agreement (APTA), our findings reveal that, in the absence of earnings management, the relationship between the capital structure and firm performance follows the trade-off theory or the pecking-order theory. Our results are consistent with agency theory only through managers’ intervention via earnings management. In India, substantial opportunistic behavior in discretionary accruals is observed, and management seems to focus on manipulating capital structure performance in opportunistic ways. Furthermore, discretionary earnings are focused more on hiding asset inefficiency that arises from forced increases in firm size, reducing earnings risk. These practices reduce the impact of the capital structure on firm performance. This study has vital implications for debt managers and performance analysts in APTA member countries. Rather than testing the applicability in a traditional way, this study recommends dividing earnings management into discretionary and nondiscretionary accruals to test capital structure theories. Because nondiscretionary accruals play a dominant role in earnings management, firm behavior is consistent with trade-off or pecking-order theory, as seen in patterns in the relationship between the capital structure and firm performance, whereas agency theory holds only after external intervention by managers in terms of earnings management.

 

1. Introduction

Earnings management has been one of the most crucial and specialized areas of research in finance for many years. The concept of earnings management1 and its measurement have been extensively studied. Studies have identified accruals as the most suitable measure of earnings management (DeAngelo, 1986, pp. 400–420; Dechow, Sloan, & Sweeney, 1995, pp. 193–225; Healy, 1985; Healy & Wahlen, 1999; Jones, 1991). Scholars understand that earnings management practices are used to fabricate firm performance, which might misguide owners or investors (Balsam, Bartov, & Marquardt, 2002; Burgstahler & Dichev, 1997a, 1997b; Chung, Firth, & Kim, 2005; Schipper, 1989; Scott, 2000; Siregar & Utama, 2008).

With the development of earnings management concepts, numerous studies have been conducted to explain its relationship with other aspects of business (Balsam et al., 2002; Chaney & Lewis, 1995; Dechow et al., 1995, pp. 193–225). However, the literature is scarce concerning the manipulation of capital structure efficiency through earnings management. The variation in the impact of the capital structure on firm performance between managed performance and unmanaged performance is still unaddressed.