淡江大學機構典藏:Item 987654321/92595
English  |  正體中文  |  简体中文  |  Items with full text/Total items : 62797/95867 (66%)
Visitors : 3733372      Online Users : 298
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library & TKU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    Please use this identifier to cite or link to this item: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/92595


    Title: Earnings Management under Bull and Bear Markets: The Taiwan Stock Market
    Authors: 邱志昌
    Contributors: 淡江大學統計學系
    Keywords: Discretionary Accruals
    Date: 2013-04
    Issue Date: 2013-10-20 11:39:44 (UTC+8)
    Publisher: Society for Business Research Promotion
    Abstract: Earning management,Discretionary Accrual,Factor model
    Earnings management is the typical agency management of corporate finance in bull and bear stock markets. The chief executive officer (CEO) demonstrates his or her own talent and skill for his or her excursive stock options to increase personal wealth. In a bear market, the CEO adds corporate performance to protect the personal tenure position. In numerous situations, earnings management prevails in bull and bear stock markets. We consider that the purpose of earnings management is to raise corporate value for stock price. Therefore, we examine these scenarios using Taiwan stock market listed corporations. Our findings show that earnings management does not have a systematical effect in bull and bear markets for stock price. Our results indicate that (a) the most important factor is free cash flow when CEOs desire to conduct earnings management; (b) in both bull and bear markets, free cash flow remains the best factor; (c) the control variables are significant when the market value is divided by the book value and company size, which are MB and SIZE, but non-significant in fixed asset ratios and debt ratios, which are the FFASSET ratio and the LLASSET ratio; and (d) CEOs that include board of director shareholders have asymmetric effects in bull and bear markets.
    Relation: Asian Journal of Business and Management Sciences,10(2), 20-37
    Appears in Collections:[Graduate Institute & Department of Statistics] Journal Article

    Files in This Item:

    File Description SizeFormat
    Earnings Management under Bull and Bear Markets The Taiwan Stock Market.pdf726KbAdobe PDF2View/Open
    index.html0KbHTML73View/Open

    All items in 機構典藏 are protected by copyright, with all rights reserved.


    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library & TKU Library IR teams. Copyright ©   - Feedback