مقاله انگلیسی رایگان در مورد بررسی ارتباط بین مدیریت سود و نقدینگی بازار – الزویر ۲۰۱۷

elsevier

 

مشخصات مقاله
ترجمه عنوان مقاله بررسی ارتباط بین مدیریت سود و نقدینگی بازار
عنوان انگلیسی مقاله Examining the relationship between earning management and market liquidity
انتشار مقاله سال ۲۰۱۷
تعداد صفحات مقاله انگلیسی  ۱۳ 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) scopus – master journals
نوع مقاله ISI
فرمت مقاله انگلیسی  PDF
شاخص H_index ۲۷ در سال ۲۰۱۸
شاخص SJR ۰٫۵۴۸ در سال ۲۰۱۸
رشته های مرتبط  حسابداری – مدیریت – اقتصاد
گرایش های مرتبط  حسابداری مالی – مدیریت مالی – اقتصاد مالی
نوع ارائه مقاله
ژورنال
مجله / کنفرانس تحقیق در تجارت و امور مالی بین المللی – Research in International Business and Finance
دانشگاه Arab East Colleges, Riyad, Saudi Arabia
کلمات کلیدی مدیریت سودها، شکاف قیمت پیشنهادی خرید و فروش ، نقدینگی سهام، تعهدات اختیاری
کلمات کلیدی انگلیسی Earnings management, Bid-ask spreads, Stock liquidity, Discretionary accruals
شناسه دیجیتال – doi
https://doi.org/10.1016/j.ribaf.2017.07.054
کد محصول E11640
وضعیت ترجمه مقاله  ترجمه آماده این مقاله موجود نمیباشد. میتوانید از طریق دکمه پایین سفارش دهید.
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فهرست مطالب مقاله:
Outline
Abstract
Keywords
۱٫ Introduction
۲٫ Earnings management and liquidity: literature review
۳٫ Sample and methodology
۴٫ Empirical results
۵٫ Conclusion
References

بخشی از متن مقاله:

Abstract

The main purpose of this paper is to argue the extent that earnings management lowers liquidity. It should increase information asymmetry and impair trading liquidity. Using a sample of French firms from 2008 to 2011, we find that firms that manage earnings have wider bid-ask spreads. Our results are robust for both of two well-established measures of market liquidity. Therefore, the empirical results indicate that firms that exhibit greater earnings management are associated with lower market liquidity. These findings are in line with adverse selection and shed light on the role corporate governance devices can play in the consideration of shareholder interest’s protection, which leads to improved stock market liquidity levels.

Introduction

Healy & Palepu (2001) suggest that the cascade of financier and accountant scandals that marked the beginning of this decade has shed light on the role of transparent and clear information in maintaining a well operate financial market. The concept of Market liquidity is highly dependent on informational transparency. High liquidity allows companies to raise additional funds on favourable terms through low transaction costs and no time lag between economic agents (Stoll, 1978; Glosten & Milgrom, 1985). The presence of information asymmetry in the market may reduce liquidity (Jacoby et al. 2000). Therefore, liquidity forms a very timely issue that is gaining a growing interest. This issue is correlated with an increased focus on the issue of quality of information. This focus presently dates back a number of years, but in recent years, and following multiple scandals (WorldCom , Enron , Vivendi, Parmalat … ) the subject has become topical again. Since the resurgence of interest, several reform initiatives have been made (Sarbanes -Oxley in the United States, financial security law in France) and the adoption of IFRS which has been adjusted from 2005 accounting standards. These initiatives are part of the process of harmonizing financial reporting at the European level and choosing accounting convergence. The objective is to reduce accounting manipulations and earning management in favour of better financial transparency, which appears as a necessary objective to increase security for investors.

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