مشخصات مقاله | |
ترجمه عنوان 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 |
انتشار | مقاله سال 2021 |
تعداد صفحات مقاله انگلیسی | 17 صفحه |
هزینه | دانلود مقاله انگلیسی رایگان میباشد. |
پایگاه داده | نشریه الزویر |
نوع نگارش مقاله |
مقاله پژوهشی (Research Article) |
مقاله بیس | این مقاله بیس میباشد |
نمایه (index) | DOAJ – Scopus – Master Journals List – JCR |
نوع مقاله | ISI |
فرمت مقاله انگلیسی | |
ایمپکت فاکتور(IF) |
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 |
مدل مفهومی | دارد |
پرسشنامه | ندارد |
متغیر | دارد |
رفرنس | دارد |
رشته های مرتبط | مدیریت، حسابداری |
گرایش های مرتبط | مدیریت مالی، حسابداری مالی |
نوع ارائه مقاله |
ژورنال |
مجله | Borsa Istanbul Review – مرور بورسا استانبول |
دانشگاه | National University of Computer and Emerging Sciences, Islamabad Pakistan |
کلمات کلیدی | APTA، ساختار سرمایه، مدیریت سود، اندازه شرکت، قدرت نفوذ، مدل های داده پنلی |
کلمات کلیدی انگلیسی | APTACapital structureEarnings managementFirm sizeLeveragePanel data models |
شناسه دیجیتال – doi |
https://doi.org/10.1016/j.bir.2020.12.001 |
کد محصول | E15438 |
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 JEL Classifications 1. Introduction 2. Literature and hypotheses development 3. Research methods 4. Empirical analysis 5. Conclusions Declaration of competing interest References |
بخشی از متن مقاله: |
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. |