| مستخلص: |
The article references a study by J. M. García, B. García Osma and A. Mora in the 2005 issue of the Journal of Business Finance & Accounting. In their paper, the authors provide empirical evidence that earnings management may have a significant influence on the level of conservatism in reported earnings, that is, on the rate at which costs are anticipated and revenues deferred, and their results shed light on a paradoxical situation. The results showed that Great Britain-based firms are more likely to measure their unmanaged earnings conservatively than their counterparts based in France and Germany. For the pooled data, reported earnings showed no discernible response to positive market news. On the other hand, when market news is negative, reported earnings decrease by 24 percent of the fall in market value if companies are domiciled in Britain, by 22 percent in Germany and 16 percent in France. The authors argued that, in countries such as France and Germany, managers have greater incentives to engage in earnings management. In fact, with regard to the regulatory environment underpinning accounting practices, the main difference between these three countries in the recent past relates more to their approaches to standard setting than to their pre-unification legal systems. |
