دانلود مقاله نقش کیفیت سود و بازده های آتی

خلاصه
1. معرفی
2. بررسی ادبیات
3. روش تحقیق
4. نتایج
5. بحث
6. نتیجه گیری
تحقیقات آینده
رعایت استانداردهای اخلاقی
مشارکت نویسنده
منابع مالی
اعلامیه منافع رقابتی
قدردانی
پیوست I
ضمیمه II
منابع

Abstract
1. Introduction
2. Literature review
3. Research methods
4. Results
5. Discussion
6. Conclusion
Future research
Compliance with Ethical Standards
The Author's Contribution
Funding
Declaration of Competing Interest
Acknowledgments
Appendix I
Appendix II
References

چکیده
این تحقیق کیفیت سود را به‌عنوان معیاری برای سنجش کیفیت خوش‌بینی و اعتماد به بازده‌های آتی بررسی می‌کند، جایی که کسب‌وکار بسیار پایدار، اطاعت و انطباق را به عنوان نشانه‌ای از سیاست حسابداری محتاطانه و سازگار افزایش داده است. فعالیت دستکاری فرصتی گسترده برای انگیزه های فرصت طلبانه است که با اطمینان کم به عنوان یک نقص برای تخمین بازده های آتی با دقت بالا همراه است. تمام مشاهدات در شرکت‌های تولیدی فهرست شده در اندونزی از سال 2010 تا 2022 رخ داده است. این تحقیق علی از رگرسیون تعدیل شده با متغیر ساختگی در آزمون فرضیه ها و بررسی های قوی استفاده می کند. این تحقیق نمونه گیری هدفمند دارای 154 شرکت با پانل نامتعادل است. دو مدل آزمون در مورد حقوق صاحبان سهام و سود به عنوان آزمون حساسیت ادراک مثبت استفاده می شود. این شرکت با چشم انداز بالا به تمایل مداوم برای اجرای مدیریت سود مثبت با این رفتار حسابداری با ثبات بالا اشاره کرد که به هیچ تخلفی تبدیل شده است. یک همبستگی مثبت بین کیفیت سود بالا و بازده آتی، از جمله تمرکز بر سود واقعی که توسط یک مدل تصمیم منطقی نمادین است، وجود دارد. اطلاعات حسابداری با کیفیت بالا، اطلاعات معتبری برای پیش‌بینی جریان مربوطه است که با پیش‌بینی اثر هلو-لیمو مرتبط است، جایی که رشد کسب‌وکار و سود سهام به عنوان یک اثر سیگنال‌دهنده استفاده می‌شود. این یک پلتفرم متمرکز سیستم گزارشگری مالی و خصوصی شدن با هدف به حداقل رساندن احتمال اطلاعات گمراه‌کننده و پیش‌بینی کم‌نظیر است. بسیار آینده‌نگر دارای رفتار حسابداری سازگاری بالا و مدیریت مالیاتی مناسب به‌عنوان شاخص پایداری معتبر است، و مدل‌سازی عقلانیت از برنامه‌ریزی خطی سیمپلکس به عنوان مدل‌سازی شبیه‌سازی در مورد درخت تصمیم و قضایای بیز اصلاح شده است.

Abstract

This research explores earnings quality as a quality measurement of optimism and trust in future returns, where the highly sustainable business has driven up obedience and compliance as a sign of prudent and consistent accounting policy. Manipulation activity is a widely open chance for opportunistic motives, associated with low certainty as a handicap to estimate high accuracy future returns. All observations in the Indonesia-listed manufacturing companies occurred from 2010 to 2022; this causal research uses moderated regression with the dummy variable in testing hypotheses and robust checks. This purposive sampling research has 154 companies with an unbalanced panel; two testing models on equity and earnings are used as sensitivity testing of positive perception. The high-prospected firm pointed out the persistent willingness to implement positive earnings management with this high consistency accounting treatment, which has been transformed into no violation. A positive correlation exists between high earnings quality and future returns, including concentration on real earnings as symbolized by a rational decision model. High-quality accounting information is valid information in predicting the going concerned, linked up to anticipating the peach-lemon effect, where business growth and dividends are used as a signaling effect. This centralized one-platform of the financial reporting system and going private is aimed to minimize the chance of misleading information and anticipate the low-prospected. The highly prospective has high consistency accounting treatment and proper tax management as the validated sustainability indicator, and the rationality modeling is modified from the simplex-linear programming as simulative modeling concerning the Decision Tree and Bayes Theorems.

Introduction

As proven by some empirical research last decade, high-quality financial reporting has been a crucial prerequisite for investors to monitor and check the capability of management to reach better prospects. The decision usefulness of accounting information is meaningful information because of the high obedience to the regulation (i.e., González-Sánchez et al., 2023; Jian et al., 2023). Structural knowledge of real earnings has recognized that consistency and prudent accounting have connected constructively with the market price movement; inevitably, this adverse signal pointed to a low probability of reaching a highly sustainable business model (i.e., Rezaee and Tuo, 2019; Park et al., 2021). Ping (2016) accentuated that low accruals positively impact investor perceptions with no chance of abnormal returns as a dysfunctional function. Therefore, earnings quality exists as a high–accuracy guideline of optimism and confidence as a decisive standpoint in calculating the expected returns when the volatile movement of agency cost has been a destructive consequence of sustainable performance; subsequently, this pragmatic evidence is reinforced by Akbari et al. (2019), Uzezi (2022), Beardsley et al., (2023), and Al-Asfour and Abu Saleem (2023)), underlining the proper tax management has been prioritized for keeping on the investor’s faith and belief.

The dividend is a "puzzle", reflecting a myopia perspective of designing this payout policy as optimism of future growth opportunities (i.e., He et al., 2017; Alghazali et al., 2023; Sikalidis et al., 2023), Sidhu et al. (2023) found this payout policy measures the managerial capability of keeping on the business sustainability, particularly in anticipating the financial distress. The prominent role of the signaling effect is to smooth the unpredictable movement of market price, signifying the high risk; this research found a classic phenomenon of high-yielded dividend policy as a gap of research, where the annual average dividend payout ratio is higher than sales and earnings growth. In practice, the pattern of this payout policy has been explored in the Indonesia Capital Market, considering the magnificent performance as number 4 worldwide and the highest index growth in the Southeast Asia region area; accurately, the representative data distribution can be used to generalize the current circumstances of the signaling effect (see Appendix 1 Table 6). Concerning the manufacturing industry sector as an ultimate attractiveness in this capital market (see Appendix 1 Table 7), this sector had extraordinary growth during the Pandemic, representing an irrecusable occurrence. An annually detailed average comparison between the dividend payout and the business growth of sales and earnings is depicted in Fig. 1 below.

Conclusion

These results can be concluded; firstly, earnings quality had tested positively on investor perception when it covered up obedience and compliance. Manipulation activity and tax management are critical P(MAQ, H|DTAQ.Hi)x P(MAQ, H) P(MAQ, H|DTAQ, Hi)x P(MAQ, H) + P(MAQ, H |DTAQ, Lo).x P(DTAQ, Lo) M. Siladjaja and J. Jasman Journal of Open Innovation: Technology, Market, and Complexity 10 (2024) 100191 10 measurable factors in predicting high future certainty; the prudent accounting treatment reflects high consistency in publishing high earnings quality. Secondly, the dividend is used as the most effective signaling effect, which affects earnings quality differently; the positive contribution to earnings quality is a guideline for efficient contracting. Conversely, tax management and dividends have been connected to an exclusively mutual relationship aimed at smoothing the internal conflict intensity; nearly, the management is concerned with the dividend in obtaining a low cost of capital as an absolute comparative advantage. The high sales growth is an indicator of going concern, which is tested to drive up higher obedience and compliance; the high-prospected firm is assured of a highly sustainable business model, including high compliance with a minimum chance of agency costs and tax exposure. Finally, the high rationality perspective illustrated the conceivably interactive feedback between management and investors in predicting each party’s decision precisely as a comprehensive illustration of positive earnings management as optimism and confidence in the future.

The pattern of earnings management has various methods for calculating the residual error as a predictive signal of obedience and compliance because running fair value measurement is acknowledged internationally as a principal-ruled accounting standard. Commonly, the same perception of accounting treatment can be formed worldwide. The testing on the manufacturing-industry sector shows the practical implication for all regulators who must continuously monitor the business sustainability regarding the trust in this capital market. Implicitly, this calculation model can be implemented in other countries when earnings management has been tested as an open chance of discretionary behavior in reporting the actual performance; both consequences of efficient contracting and opportunity motives as a leading role of signaling effect have a critical influence on illustrating the real earnings management, covering up obedience to accounting standards and compliance with tax regulation. When the prospect theory pushes the positive contribution on the expected future returns, it is a challenge for this research to prove this theory; hence, this predictive simulation has been proposed with simplex-linear programming in calculating the maximum returns and minimum cost,