| مشخصات مقاله | |
| ترجمه عنوان مقاله | تاثیر مدیریت سود و توسعه مالی نهادی بر انتخاب ساختار سرمایه در بازارهای آمریکای لاتین |
| عنوان انگلیسی مقاله | Impacts of Earnings Management and Institutional-financial Development on Capital Structure Choice in Latin-American Markets |
| انتشار | مقاله سال 2021 |
| تعداد صفحات مقاله انگلیسی | 16 صفحه |
| هزینه | دانلود مقاله انگلیسی رایگان میباشد. |
| پایگاه داده | نشریه تیلور و فرانسیس |
| نوع نگارش مقاله | مقاله پژوهشی (Research article) |
| مقاله بیس | این مقاله بیس میباشد |
| نمایه (index) | Scopus – Master Journals List – JCR |
| نوع مقاله | ISI |
| فرمت مقاله انگلیسی | |
| ایمپکت فاکتور(IF) |
2.315 در سال 2020 |
| شاخص H_index | 34 در سال 2020 |
| شاخص SJR | 0.537 در سال 2020 |
| شناسه ISSN | 1540-496X |
| شاخص Quartile (چارک) | Q1 در سال 2020 |
| فرضیه | دارد، بخش 2. Theoretical Framework and Hypothesis صفحه 4 |
| مدل مفهومی | دارد، بخش 2. Theoretical Framework and Hypothesis صفحه 4 |
| پرسشنامه | ندارد |
| متغیر | دارد، جدول 1 صفحه 10 |
| رفرنس | دارد |
| رشته های مرتبط | حسابداری، مدیریت |
| گرایش های مرتبط | حسابداری مالی، حسابداری مدیریت، مدیریت مالی |
| نوع ارائه مقاله |
ژورنال |
| مجله / کنفرانس | تجارت و امور مالی بازارهای نوظهور – Emerging Markets Finance and Trade |
| دانشگاه | Universidad de Concepción, Los Ángeles, Chile |
| کلمات کلیدی | ساختار سرمایه، مدیریت سود، محیط نهادی، توسعه مالی |
| کلمات کلیدی انگلیسی | Capital structure; earnings management; institutional environment; financial development |
| شناسه دیجیتال – doi |
https://doi.org/10.1080/1540496X.2021.2010536 |
| کد محصول | E16094 |
| وضعیت ترجمه مقاله | ترجمه آماده این مقاله موجود نمیباشد. میتوانید از طریق دکمه پایین سفارش دهید. |
| دانلود رایگان مقاله | دانلود رایگان مقاله انگلیسی |
| سفارش ترجمه این مقاله | سفارش ترجمه این مقاله |
| فهرست مطالب مقاله: |
| Abstract Keywords Introduction Empirical Result Conclusions and Discussion References |
| بخشی از متن مقاله: |
| ABSTRACT We analyzed the effects of accruals-based earnings management practices and institutional-financial qualities of countries on the financing policy of Latin American companies. We used panel data on a sample of 983 companies between 1995 and 2017. Our results indicate that positive discretionary accruals reduce leverage and increase debt maturity. These findings suggest that accounting manipulation activities favor managerial entrenchment and seek to avoid external supervision and liquidity risk. The institutional and financial development of countries promotes leverage and long-term debt issuances. However, its effects do not mitigate the impact of accounting manipulation activities on this policy. The IFRS adoption is an effective means of control that attenuates the effects of earnings management on capital structure. These results are relevant for investors and policymakers due to their implications for firms’ corporate governance and financial policy design. Introduction Capital structure is a relevant topic in the field of corporate finance. Agency conflicts between insiders and outsiders, and the information asymmetry between them, positions accruals-based earnings management (EM) practices as a key factor in capital structure. This fact is more relevant for emerging markets such as Latin America. This market is characterized by firms issuing less corporate debt in relation to other emerging countries (Booth et al. 2001) and by low financial and institutional development (Muñoz et al. 2021b). Although these features encourage more aggressive EM practices compared to other similar markets (Leuz, Nanda, and Wysocki 2003), their impacts on firms’ capital structure have not yet been researched. In addition, empirical evidence has also established that factors such as profitability, sales and firm size are determinants of the capital structure (Ramli, Latan, and Solovida 2019). As these factors depend on the quality of the financial information disclosed by companies, we present another reason why EM would determine the financing structure. |