• 제목/요약/키워드: Earning Quality

검색결과 50건 처리시간 0.025초

The Impact of the COVID-19 Pandemic on Earning Quality: Empirical Evidence from Commercial Banks in Saudi Arabia

  • MUSA, Asaad Mubarak Hussien;ABDELRAHEEM, Abubkr Ahmed Elhadi
    • The Journal of Asian Finance, Economics and Business
    • /
    • 제9권6호
    • /
    • pp.277-285
    • /
    • 2022
  • This study aims to investigate the impact of the Corona pandemic on the earning quality (EQ) of Saudi national banks. It was conducted to evaluate the measurement of the earning quality based on the Penman approach. The researchers used the analytical method to conduct the study to find the effect of this Pandemic. Data was collected from the annual reports for the period 2010 to 2020 from Saudi national banks, which are twelve according to the annual report for the Saudi central bank, and eight of them were selected as a sample of the study. The banks are Alinma Bank, Al Rajhi Bank, Bank Al Bilad, The National Commercial Bank, Bank Aljazeera, Riyad Bank, Samba Financial Group (Samba), and Arab National Bank. The study findings showed that the Corona pandemic had a negative impact on the Saudi economy, and led to deflation in 2020 by 4.1% due to the oil sector. They also showed reducing oil production by the (OPEC +) agreement to achieve stability in the oil market and the non-oil sector. It was also revealed that the profits of Saudi commercial banks in 2020 decreased by 23.1% and that the Corona pandemic had Caused the earning quality to decline in all the studied banks.

기업설명회와 회계이익-과세소득 차이 변동성 간의 관련성 (The Relevance between Investor Relation and Book-Tax Difference Variability)

  • 김진섭
    • 한국산학기술학회논문지
    • /
    • 제18권11호
    • /
    • pp.637-643
    • /
    • 2017
  • 본 연구는 기업설명회(Investor Relations; IR) 개최기업의 회계이익의 질을 검증하였다. 이를 위해 회계이익-과세소득 차이 변동성(Book-Tax Difference Variability) 정보를 회계이익의 질 대리변수(proxy)로 활용하여 실증분석을 실시하였다. 연구표본은 2011년부터 2016년까지의 12월 결산 유가증권 상장기업 중 금융업을 제외한 2,106개 기업연도이다. 실증분석 결과는 다음과 같다. 기업설명회 개최여부 및 개최횟수는 모두 회계이익-과세소득 차이 변동성과 음(-)의 관련성을 나타냈다. 또한 연구결과의강건성을 위해 기업설명회를 개최한 연구표본만을 대상으로 한 추가분석에서도 기업설명회 개최여부 및 개최횟수는 회계이익-과세소득 차이 변동성과 음(-)의 관련성을 나타냈다. 따라서 본 연구에 의하면 기업설명회를 개최하거나 더 자주 개최하는 기업일수록 회계이익의 질이 높을 것으로 기대할 수 있다. 본 연구는 기업설명회 개최기업의 회계이익의 질을 회계이익-과세소득 차이 변동성 정보를 통해 검증함으로써, 기업설명회 관련 선행연구를 확장하였다. 또한 본 연구가 건전한 자본시장의 발전에 도움이 되기를 기대한다.

Effects of Corporate Governance and Earning Quality on Listed Vietnamese Firm Value

  • DANG, Hung Ngoc;PHAM, Cuong Duc;NGUYEN, Thang Xuan;NGUYEN, Hoa Thi Thanh
    • The Journal of Asian Finance, Economics and Business
    • /
    • 제7권4호
    • /
    • pp.71-80
    • /
    • 2020
  • The paper examines the influence of corporate governance (CG) and earning quality (EQ) on corporate value (FV) of Vietnamese enterprises. The study uses GLS regression and linear structure model using data collected from companies listing on the stock market in Vietnam during 2008-2018, with a total of 2,937 observations. The research results indicate that EQ and CG represented by the Integrated Board of Directors and the Integrated Supervisory Board have a positive effect on FV directly and indirectly. The results show that the Integrated Board of Directors has a positive effect on EQ, whereas the Integrated Supervisory Board has a negative effect on EQ. Based on the research results, we suggest that companies need to strictly comply and implement GC, so to bring down the agency cost and consequently to increase performance. The companies also should establish the Board of Director of a proper size, with financial and accounting specialty, and including women board members. The government also needs to improve the management mechanism asking for firms to prepare and publish financial statements with reliable company information, which could be provided to users. These recommendations are a useful basis to help businesses improve FV via changes in the corporate governance factors in each enterprise.

The Effect of Corporate Social Responsibility Activities on Investors' Heterogeneous Beliefs: A Study of Korea's Data Set

  • JUNG, Hyun-Uk;MUN, Tae-Hyoung;KIM, Young Ei
    • The Journal of Asian Finance, Economics and Business
    • /
    • 제7권10호
    • /
    • pp.95-107
    • /
    • 2020
  • This study analyzes the effect of corporate social responsibility (CSR) activity on investors' heterogeneous beliefs. The hypothesis of this study is based on the conflicting effects of CSR activities on firm value and earning's quality. Investors' heterogeneous beliefs used in the empirical analysis of this study are trading volume, and CSR activity is measured by the KEJI Index (Korea Economic Justice Institute Index). This study performs an empirical analysis using regression analysis including control variables. CSR activities are found to have a positive relationship with trading volume. This is consistent regardless of the low and high accounting information (earning's quality). It can be interpreted that Korea's CSR activity acts as an incentive to increase investors' heterogeneous beliefs about target companies. In other words, it implies that the investor judges CSR activities negatively when evaluating firm value. This study could have a policy implication in that it analyzes how CSR activities affect investors' decision-making. In other words, this study analyzed CSR activities from the perspective of shareholders. Therefore, this study is expected to provide useful information for policymaking by regulatory agencies. In particular, its contribution is to presents data that CSR activities can be a negative factor in evaluating firm values.

거접법을 이용한 호두나무 유경접목 (Epicotyl Field Grafting in Walnut (Juglans sinensis Dode))

  • 박효원;이욱;오성일;조용성;김철우
    • 한국산림과학회지
    • /
    • 제109권2호
    • /
    • pp.243-247
    • /
    • 2020
  • 본 연구는 기존의 양접법(field grafting) 기반 유경접목법과 개선된 거접법(bench grafting) 기반 유경접목법의 묘목 활착률 및 각각 생산된 묘목의 등급(상·중·하품) 비율과 묘목 생산 시 단순 수익률을 비교·분석하여 효율적인 접목방법을 제시하기 위해 실시되었다. 2년 간 평균 접목활착률은 각각 기존 유경접목법 30.3%, 개선 유경접목법 77.1%로 나타나 개선방법의 묘목활착률이 2배 이상 높았다. 생산된 묘목 등급은 기존 유경접목법의 경우, 상·중·하품의 비율이 2:3:5, 개선 유경접목법은 3:4:3으로 나타나 개선방법의 '상품' 및 '중품' 묘목 비율이 20% 가량 증가한 것으로 확인되었다. 투입비용 대비 판매수익으로 효율성을 계산한 결과, 기존 유경접목법 1.08, 개선 유경접목법 1.59로 개선방법의 수익률이 약 1.5배 높은 것으로 나타났다. 따라서 개선된 거접법 기반 유경접목법은 적은 비용으로 고품질의 접목묘 생산이 가능할 것으로 판단됨에 따라 효율적인 묘목생산 및 보급으로 고품질 과실생산을 통한 생산자의 소득향상에 크게 기여될 것으로 사료된다.

경영자의 외부감사인 교체빈도가 기업이익의 질에 미치는 영향 (The Effects of Auditor Turnover Ratio on the Quality of Earnings)

  • 정석용;황규진;김기범
    • 한국산학기술학회논문지
    • /
    • 제10권4호
    • /
    • pp.877-886
    • /
    • 2009
  • 선행연구를 통해 자유선임제도의 폐해를 방지하기 위한 여러 제도의 도입이 회계정보의 투명성을 개선시켰다는 점이 밝혀졌다. 그러나 이들 선행연구들은 제도 도입 전후만을 살펴보았다는 한계점을 갖는다. 따라서 제도의 도입이 장기적으로도 효과가 있었는지 여부를 살펴보는 것은 중요한 의미를 갖는다고 할 수 있다. 이에 본 연구는 1995년부터 2004년까지 한국증권선물거래소(KRX)에 상장되어 있는 12월 결산법인을 대상으로 외부감사인 교체빈도가 회계이익의 질에 미치는 영향을 실증분석하였다. 회계이익의 질은 모형과 수정 Jones모형(1991)을 통해 측정하였다. 실증 분석결과, 외부감사인 교체빈도가 높은 기업의 재무보고 신뢰성(회계이익의 질)이 그렇지 않은 기업의 경우보다 유의적으로 낮게 나타났으며, 회계이익의 질에 영향을 주는 변수를 통제한 후에도 이 결과는 여전히 유의 적이면서 일관되었다. 이는 외부감사인 자유선임제도 하에서 경영자에게 제공되는 외부감사인 선임권이 이익조정을 하기 위한 우호적 환경을 제공할 수 있으며 궁극적으로 해당 기업의 회계이익의 질을 저하시키는 요인으로 작용할 수 있다는 사실을 의미한다.

육계사료에 항생제 첨가 효과와 경제성에 관한 조사연구 II (the additional effects of antibiotics for the chicken breeding feed and economical efficiency.)

  • 오세정;노순창;정태영
    • 한국가금학회지
    • /
    • 제9권1호
    • /
    • pp.17-33
    • /
    • 1982
  • The purpose of this experiment is to clarify the additional effect of antibiotics for the chicken breeding feed. This experiment was carried out with 6,560 individuals which were collected from four farms, Dugil, Hyubhoi, Sanggog and Kumsan. The duration of this experiment was 6 months from July to December in 1981. 1. Body weight and body gain. (1) The range of the body gain was 1.91-7.60% The most effective sections was T$_3$, and the effect was T$_2$, T$_4$, T$_1$, T$\sub$5/ in order. (2) The environmental sanitation of the Sanggog farm was not so good. In this farm the body gain was severely occurred in T$_3$ and T$_2$ sections. Mere gain obtained from T$\sub$5/ section. (3) The environmental sanitation was good in Dugil, Hyubhoi and Kumsan. A little body gain was occurred in these farms, but differences were shown according to the place or breeds. 2. Amount of feed intake feed conversion ratio. (1) Amount of feed intake was increased 0.13-3.19%, and feed conversion ratio was improved 1.68-4.62% compared with control. T$_3$ section showed high percent and T$_4$ T$_1$, T$\sub$5/, Is, C in order. (2) The keeping method of the chicken breed in Hyubhoi was floor brooding. From Hyubhoi and Sanggog farms, the efficiency was increased 9.4-9.8%. (3) From Dugil and Kumsan, the rate of improvement was low. 3. Mortality : Mortality was merely decreased in Sanggog and Kumsan farms which the sanitary and fowl caring conditions had been had, by additional antibiotics. But there was no worthy effect. 4. The ratio of carcass and the degree of skin coloration. The additional antibiotics in feed had no effect on the ratio of carcass but had the influence on the yellowish skin coloration. Skin coloring was good in T$\sub$7/ section and T$_1$, T$\sub$6/, T$_4$, C, T$_3$, T$\sub$5/, T$_2$ in order. 5. Economical efficiency (1) The addition of the antibiotics in feed increased 3.76-10.95% of gross earning. The highest earning was occurred in T$_4$ section and T$_3$, T$_1$, T$_2$, T$\sub$5/, C sections in order. (2) The earning rate was influenced by the antibiotic products. (3) In Dugil and Kumsan farms, there was no difference in earning, however, in Hyubhoi and Sanggog farms there was wide difference in earning. Conclusionally, the addition of antibiotics in chicken breeding feed is necessary. Especially in bad condition of environmental sanitation and floor brooding, the effect of additional antibiotics is clear. Selection of antibiotics from various kinds, maker's confidence and quality problems are important.

  • PDF

Change of Stock Earning Rate on Korean Quality Award Recipients - The comparison between KQA Index and Baldrige Index-

  • Suh, Yung-Ho;Lee, Hyun-Soo
    • International Journal of Quality Innovation
    • /
    • 제1권1호
    • /
    • pp.106-120
    • /
    • 2000
  • The purpose of this research is to understand the effects of Quality Management Award on stock prices movement and to examine the comparative advantages of quality award system in Korea and the U.S. This study compares the performances of QM Award companies in the stock market with those of the market index in both countries. We develop Korean Quality Award Index(KQA Index) based on the Baldrige Index of NIST in the U.S. We inspect three studies. Study 1 tests if the performances of MB Award winners and S&P500 index have a difference in the stock market. Study 2 tests if the performances of KQA winners and KOSPI(Korean Composite Stock Price Index) have a difference in the stock market. Study 3 tests if the performances of KQA winners and MB Award winners have a difference in the stock market. From the empirical tests, the performances of KQA winners are superior to those of KOSPI and the performances of MB Award winners are superior to those of S&P500 and the performances of MB Award winners are superior to those of KQA winners.

  • PDF

분식 적발을 위한 재무이상치 분석시스템 개발 (Development of the Financial Account Pre-screening System for Corporate Credit Evaluation)

  • 노태협
    • 한국정보시스템학회지:정보시스템연구
    • /
    • 제18권4호
    • /
    • pp.41-57
    • /
    • 2009
  • Although financial information is a great influence upon determining of the group which use them, detection of management fraud and earning manipulation is a difficult task using normal audit procedures and corporate credit evaluation processes, due to the shortage of knowledge concerning the characteristics of management fraud, and the limitation of time and cost. These limitations suggest the need of systemic process for !he effective risk of earning manipulation for credit evaluators, external auditors, financial analysts, and regulators. Moot researches on management fraud have examined how various characteristics of the company's management features affect the occurrence of corporate fraud. This study examines financial characteristics of companies engaged in fraudulent financial reporting and suggests a model and system for detecting GAAP violations to improve reliability of accounting information and transparency of their management. Since the detection of management fraud has limited proven theory, this study used the detecting method of outlier(upper, and lower bound) financial ratio, as a real-field application. The strength of outlier detecting method is its use of easiness and understandability. In the suggested model, 14 variables of the 7 useful variable categories among the 76 financial ratio variables are examined through the distribution analysis as possible indicators of fraudulent financial statements accounts. The developed model from these variables show a 80.82% of hit ratio for the holdout sample. This model was developed as a financial outlier detecting system for a financial institution. External auditors, financial analysts, regulators, and other users of financial statements might use this model to pre-screen potential earnings manipulators in the credit evaluation system. Especially, this model will be helpful for the loan evaluators of financial institutes to decide more objective and effective credit ratings and to improve the quality of financial statements.

The Effect of Earnings Quality on Financial Analysts' Dividend Forecast Accuracy: Evidence from Korea

  • NAM, Hye-Jeong
    • The Journal of Asian Finance, Economics and Business
    • /
    • 제6권4호
    • /
    • pp.91-98
    • /
    • 2019
  • Dividend policy is an important business decision and is considered a channel to communicate a firm's performance to shareholders. Given the empirical findings that earnings quality significantly affects financial analysts' forecasting activities, it is predicted that higher earnings quality would positively influence forecast accuracy. Specifically, it is expected that financial analysts would forecast dividends more accurately for firms with higher earning quality. Unlike the research on financial analysts' earnings forecasts was heavily conducted, there is little study about financial analysts' dividend forecasts. This paper examines the effect of earnings quality on financial analysts' dividend forecast accuracy. We use a sample of South Korean firms for the period of 2011-2015 for multivariate regression. Earnings quality is measured by accruals quality and performance-adjusted discretionary accruals followed by prior studies. We first compare the accuracy between dividend forecasts and earnings forecasts using t-test and Wilcoxon singed-rank test. It is confirmed that financial analysts' dividend forecasts are more accurate than earnings forecasts in Korea. We find that financial analysts' dividend forecasts are more accurate for firms with higher earnings quality. We also find that the result is still valid after controlling for the accuracy of financial analysts' earnings forecasts. This confirms that earnings quality positively affects financial analysts' dividend forecasts.