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Earnings management and its impact on the information content of earnings and the properties of analysts' forecasts.

机译：盈余管理及其对盈余信息内容和分析师预测属性的影响。

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摘要

Accounting information is an integral part of the information set used by investors. However, accrual based accounting earnings are susceptible to earnings management. Investors are concerned about earnings management since earnings management can distort reported earnings and they may make decisions that they otherwise would not have made. The purpose of this thesis is to examine the impact of earnings management on the informativeness of reported earnings about firm value and analysts' forecasts.; Chapter 2 develops an earnings management model and examines the impact of earnings management on income smoothing and the earnings response coefficient. Chapter 3 critically reviews the existing discretionary accrual models and discusses the measurements of earnings management and income smoothing, which are used in the subsequent empirical chapters. Chapter 4 empirically examines the impact of earnings management on the earnings response coefficient after controlling either for the smoothness of pre-managed earnings or for the smoothness of reported earnings. Firms are further decomposed into income smoothing and variance-increasing earnings management firms and the same analyses are repeated. Chapter 5 examines the impact of smoothness of reported earnings and earnings management on the equilibrium demand for analysts' services and the properties of analysts' forecasts.; This thesis contributes to our understanding of the impact of earnings management on firm value and analysts' forecasts by providing empirical evidence consistent with the hypothesis. that the financial market and analysts are aware of the nature of a firm's discretionary accrual policy, and use their beliefs about the firm's discretionary accrual policy in assessing firm value and deciding whether to follow the firm.
机译：会计信息是投资者使用的信息集的组成部分。但是，基于应计制的会计收入容易受到收入管理的影响。投资者担心盈余管理，因为盈余管理会扭曲报告的盈余，并且他们可能会做出原本不会做出的决定。本文的目的是检验盈余管理对报告的盈余对公司价值和分析师预测的信息性的影响。第2章建立了收益管理模型，并考察了收益管理对收益平滑和收益响应系数的影响。第三章严格审查了现有的自由裁量权应计模型，并讨论了盈余管理和收入平滑的度量，这些度量将在随后的实证章节中使用。第4章在控制预管理收入的平滑度或报告收益的平滑度后，实证检验了收益管理对收益响应系数的影响。公司进一步分解为收入平滑和增加方差的收益管理公司，并重复相同的分析。第5章研究了报告的收益和收益管理的平稳性对分析师服务均衡需求和分析师预测属性的影响。通过提供与假设相符的经验证据，本论文有助于我们了解盈余管理对公司价值的影响以及分析师的预测。金融市场和分析师都了解公司的酌处权应计政策的性质，并使用他们对公司的酌处权应计政策的信念来评估公司价值和决定是否遵循公司。

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  • 作者

    Pae, Jinhan.;

  • 作者单位

    The University of British Columbia (Canada).;

  • 授予单位 The University of British Columbia (Canada).;
  • 学科 Business Administration Accounting.; Economics Finance.
  • 学位 Ph.D.
  • 年度 1999
  • 页码 156 p.
  • 总页数 156
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 财务管理、经济核算;财政、金融;
  • 关键词

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