Short-term debt maturity, monitoring and accruals-based earnings management

Fung, Simon; Goodwin, John

doi:10.1016/j.jcae.2013.01.002

Cited by 66 publications

(79 citation statements)

References 51 publications

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“…It means that lower (higher) earnings quality is associated with higher (lower) cost of debt. On contrary, consistent with Fung and Goodwin (2013) and Rodriguez-Perez and Van Hemmen (2010), the coefficients of EQ 2 and EQ 7 for cluster 3, EQ 4 for cluster 2, and EQ 9 for clusters 2 and 3 in pre-crisis period, and EQ 4 and EQ 5 for cluster 2, EQ 6 and EQ 8 for clusters 1 and 3, and EQ 7 for cluster 3 in crisis period are positively associated with Costofdebt as a result of denial of H 4 .…”

Section: 3cost Of Equity Capital and Audit Quality Under Financialsupporting

confidence: 54%

“…On contrary, Fung and Goodwin (2013) found that short-term debt is positively associated with earnings management. In similar manner, Rodriguez-Perez and Van Hemmen (2010) concluded that marginal increase in debt provide incentives A c c e p t e d M a n u s c r i p t for managers to manipulate earnings, and diversification provides the needed context for this accounting practice to be possible.…”

Section: Page 25 Of 82mentioning

confidence: 86%

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Cost of capital, audit and earnings quality under financial crisis: A global empirical investigation

Persakis

Iatridis

2015

Journal of International Financial Markets, Institutions and Mo

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Section: 3cost Of Equity Capital and Audit Quality Under Financialsupporting

confidence: 54%

Section: Page 25 Of 82mentioning

confidence: 86%

Cost of capital, audit and earnings quality under financial crisis: A global empirical investigation

Persakis

Iatridis

2015

Journal of International Financial Markets, Institutions and Mo

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“…Estas cláusulas contratuais que permitem a antecipação da dívida estão, em geral, associadas às dívidas de longo prazo. Fung & Goodwin (2013) já encontraram evidências de que a relação entre accruals e endividamento pode variar de acordo com maturidade da dívida. Silva (2008) encontrou evidências de que as empresas brasileiras de capital aberto, que tenham dívidas de longo prazo, estão sujeitas a uma série de covenants contábeis.…”

Section: H1: a Relação Entre O Volume De Endividamento E A Qualidade unclassified

Endividamento e decisões contábeis: a relação não linear entre dívida e qualidade dos lucros

Costa

Matte

Monte-mor

2018

Rev. contab. organ.

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1Os contratos de dívidas das empresas podem gerar diferentes incentivos para os gestores praticarem o chamado gerenciamento de resultados. De acordo com a maioria dos estudos presentes na literatura, empresas buscariam reduzir os accruals discricionários para reduzir assimetria de informação e incorrer em menores custos de financiamento. Outros estudos, porém, apontam que empresas com níveis muito elevados de endividamento podem fazer o contrário, aumentando os accruals discricionários para não incorrer em cláusulas restritivas (covenants). Considerando essas duas teorias, este artigo propõe uma relação não linear entre dívida e o componente discricionário dos lucros para as empresas listadas na BM&FBOVESPA entre 2008 e 2015. As evidências indicam uma relação positiva entre baixos níveis de dívida e a qualidade dos lucros, mas negativa para níveis maiores de dívida. Esse resultado sugere que em níveis elevados de endividamento, é preferível diminuir a qualidade dos lucros a incorrer em perdas por violações contratuais. Análises adicionais indicam que a relação não linear encontrada está relacionada à dívida de longo prazo, e não à de curto prazo. INTRODUÇÃOOs contratos de dívida, além de gerarem informações que auxiliam na avaliação de decisões operacionais, servem como mecanismo de disciplina de gestores (Harris & Raviv, 1990). Em particular, os covenants presentes nos contratos de dívida têm potencial para limitar o engajamento do gestor em atividades de maior risco (Leland, 1994).

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“…Peningkatan pembiayaan menggunakan hutang jangka pendek menimbulkan biaya pelaporan keuangan perusahaan karena pembayaran lebih awal akan meningkatkan risiko likuiditas perusahaan dan bahkan menyebabkan kebangkrutan. Dengan demikian, perusahaan dengan pembiayaan hutang jangka pendek lebih cenderung untuk mengelola laba dengan tujuan untuk mempermudah perpanjangan kontrak utang (Gupta et al, 2008;. Fung and Goodwin, 2013).…”

Section: Latar Belakangunclassified

“…Hutang jangka pendek meningkatkan risiko likuiditas karena perusahaan dapat ditolak perpanjangan pinjaman atau bahkan lebih, pembayaran mungkin diperlukan sebelum jatuh tempo proyek mereka (Flannery, 1986;Diamond, 1991;Johnson, 2003). Gupta et al (2008) dan Fung and Goodwin (2013) berharap bahwa pembiayaan hutang jangka pendek dapat menyebabkan perilaku oportunistik manajer untuk membuat perusahaan terlihat lebih layak untuk diberi pinjaman. Bukti empiris mereka juga mengungkapkan bahwa perusahaan sebagian besar menggunakan hutang jangka pendek lebih cenderung untuk mengelola laba yang lebih tinggi Dalam literatur struktur modal, kurangnya pembiayaan internal (defisit) dianggap sebagai salah satu faktor penting yang mempengaruhi pembiayaan eksternal perusahaan.…”

Section: Penelitian Terdahuluunclassified

Pengaruh Faktor Keuangan Terhadap Keputusan Pelaporan Keuangan Dan Pelaporan Pajak

Husnaini¹,

Cahyaningtyas

Effendy

2017

Aksioma

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This study emphasizes on one of the management strategies, by accessing whether a company would have a propensity toward the financial reporting or tax reporting. In addition, the study also aims to examine the various factors of corporate finance activities as a source of differences in weighing the financial reporting or tax reporting. These variables are short-term debt, long-term debt, cash deficits and the ability to access capital markets. This study focused on manufacturing companies listed in Indonesia Stock Exchange during 2012 - 2014. Sample was determined based on the purposive sampling method and as a result, this study obtained 66 units of observations. Hypothesis testing based on logit regression showed that (1) 51.5% of companies choose financial reporting above tax reporting while 48.5% chose tax reporting above financial reporting. (2) Long-term debt has negative influence on decisions of financial reporting or tax reporting. Companies with high long-term ratio tend to make aggressive tax reporting for interest expense is deductible expense. (3) Three independent variables such as short-term debt, financing deficit and access to capital markets has no influence the decision of financial reporting or tax reporting. Keywords: short-term debt, long-term debt, financing deficit, access to capital markets, reporting decision.

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Short-term debt maturity, monitoring and accruals-based earnings management

Cited by 66 publications

References 51 publications

Cost of capital, audit and earnings quality under financial crisis: A global empirical investigation

Cost of capital, audit and earnings quality under financial crisis: A global empirical investigation

Endividamento e decisões contábeis: a relação não linear entre dívida e qualidade dos lucros

Pengaruh Faktor Keuangan Terhadap Keputusan Pelaporan Keuangan Dan Pelaporan Pajak

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