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Quality Of Earnings

Author : Thornton L. O'glove
ISBN : 9780684863757
Genre : Business & Economics
File Size : 29.62 MB
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Category: Business & Economics

Capital Market Implications Of Earnings Quality

Author : Bianca Ahrens
ISBN : 9783899369212
Genre : Business & Economics
File Size : 20.99 MB
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In his speech from 1998 the former chairman of the United States Securities and Exchange Commission (SEC) Arthur Levitt pointed out that trust "is the bedrock of our capital markets" and that this must not be shaken by the erosion of earnings quality. He made clear that it is the challenge of the whole financial community to counteract such a development. This thesis deals with the question whether the importance of earnings for the capital market varies with its quality. The question arises, because in recent years a large number of firm scandals has shaken the trust in the reliability of reported earnings. In order to properly address the research questions, the literature on earnings quality definitions, quality measures as well as implications of earnings quality on capital markets is reviewed and critically discussed. The author investigates whether well known results concerning capital market implications of earnings quality remain stable for all measures considered. She answers the question of how earnings quality affects firm value, cost of equity capital, and the accuracy of analysts' forecasts taking into account the effects of determinants of earnings quality.
Category: Business & Economics

Line Item Analysis Of Earnings Quality

Author : Nahum D. Melumad
ISBN : 9781601982124
Genre : Business & Economics
File Size : 54.31 MB
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Line-Item Analysis of Earnings Quality provides a comprehensive summary and analysis of the specific earnings quality issues pertaining to key line item components of the financial statements. After providing an overview of earnings quality and earnings management, Line-Item Analysis of Earnings Quality analyzes key line items from the financial statements. For each key line item, the authors: review accounting principles discuss implications for earnings quality evaluate the susceptibility of the item to manipulation describe analyses and red flags which may inform on the item's quality Line-Item Analysis of Earnings Quality will prove useful in conducting fundamental and contextual analyses through its analysis and evaluations"
Category: Business & Economics

Earnings Quality

Author : Jennifer Francis
ISBN : 9781601981141
Genre : Business & Economics
File Size : 60.58 MB
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This review lays out a research perspective on earnings quality. We provide an overview of alternative definitions and measures of earnings quality and a discussion of research design choices encountered in earnings quality research. Throughout, we focus on a capital markets setting, as opposed, for example, to a contracting or stewardship setting. Our reason for this choice stems from the view that the capital market uses of accounting information are fundamental, in the sense of providing a basis for other uses, such as stewardship. Because resource allocations are ex ante decisions while contracting/stewardship assessments are ex post evaluations of outcomes, evidence on whether, how and to what degree earnings quality influences capital market resource allocation decisions is fundamental to understanding why and how accounting matters to investors and others, including those charged with stewardship responsibilities. Demonstrating a link between earnings quality and, for example, the costs of equity and debt capital implies a basic economic role in capital allocation decisions for accounting information; this role has only recently been documented in the accounting literature. We focus on how the precision of financial information in capturing one or more underlying valuation-relevant constructs affects the assessment and use of that information by capital market participants. We emphasize that the choice of constructs to be measured is typically contextual. Our main focus is on the precision of earnings, which we view as a summary indicator of the overall quality of financial reporting. Our intent in discussing research that evaluates the capital market effects of earnings quality is both to stimulate further research in this area and to encourage research on related topics, including, for example, the role of earnings quality in contracting and stewardship.
Category: Business & Economics

Financial Services

Author : Khan
ISBN : 007066692X
Genre : Financial services industry
File Size : 85.47 MB
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Category: Financial services industry

Financial Services

Author : M. Y. Khan
ISBN : 0070585857
File Size : 39.38 MB
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Author : Paul D. Kimmel
ISBN : 9780470377857
Genre : Business & Economics
File Size : 72.30 MB
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Offering a unique approach in the field, this book presents the principles of accounting from a corporate perspective. This provides readers with a real-world understanding of the concepts.
Category: Business & Economics