Sustainable Corporate Ownership Structures and Earnings Management in the Vietnamese Stock Market

We conducted an empirical analysis to verify the relationship between companies’ ownership structures and earnings management. Our sample included 480 nonfinancial companies listed on Vietnam’s Ho Chi Minh Stock Exchange and Hanoi Stock Exchange from 2012 to 2017, and our explanatory variables included several ratios, such as the controlling shareholders’ stake, management ownership stake, state-owned stake, and foreign ownership stake, which represent different ownership structures. We examined the effects of these ratios on earnings management. Our results suggested that earnings management has a significant linear relationship with the state-owned and foreign ownership stakes. Our results can enhance the understanding of the role of companies’ sustainable ownership structures in limiting earnings management, and they can contribute to future studies of the relationship between earnings management and corporate social responsibility and sustainability reporting assurance practices that focus on corporate ownership structures.

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Faktor Yang Mempengaruhi Nilai Perusahaan Dengan Corporate Social Responsibility sebagai Variabel Moderating

SALAM Jurnal Sosial dan Budaya Syar i ◽

10.15408/sjsbs.v7i4.15068 ◽

2020 ◽

Vol 7 (4) ◽

Author(s):

Senja Nuansari

Keyword(s):

Corporate Social Responsibility ◽

Social Responsibility ◽

Sampling Method ◽

Stock Exchange ◽

Target Population ◽

Corporate Value ◽

Main Method ◽

Corporate Social ◽

The Relationship

AbstractThe role of Corporate Social Responsibility (CSR) as a moderating variable in the effect of probability, leverage, and size of the company, on the company values listed on the Stock Exchange from 2015 through 2018 is examined in this study. The target population consists of 96 companies and 51 of them are considered as the sample according to a pool sampling method. Moderate Regression Analysis (MRA) is considered as the main method to identify and describe the relationship between the variables. These results reveal that the size of the company’s profitability and the size of a firm have a positive and significant impact on corporate value. On the other hand, leverage was found to have an insignificant effect on corporate value. Besides, CSR show to moderate the effect of probability, leverage, and size of the firm, on the value of the company.Keywords: CSR, Corporate Value, Profitability, Leverage, and size of a firm AbstrakPeran tanggung jawab sosial perusahaan (CSR) sebagai variabel moderat memberikan efek probabilitas, leverage, dan ukuran pada nilai perusahaan yang tercantum di BEI periode 2015-2018 dalam penelitian ini. Dari populasi 96 perusahaan dan dipilih 51 sebagai sampel sesuai dengan metode pool sampling. Moderat regresi analisis (MRA) dianggap sebagai metode utama untuk mengidentifikasi dan menggambarkan hubungan antara variabel. Hasil ini mengungkapkan bahwa profitabilitas dan ukuran perusahaan memiliki dampak positif dan signifikan pada nilai perusahaan. Di sisi lain leverage ditemukan memiliki efek yang tidak signifikan dari nilai perusahaan. Selain itu, CSR menunjukkan dapat memoderasi probabilitas, leverage dan ukuran perusahaan, pada nilai perusahaan.Kata Kunci: CSR, nilai perusahaan, profitabilitas, leverage, ukuran perusahaan

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Does the presence of independent directors reduce the practices of earnings management? The moderating role of family ownership concentration

Ekonomski pregled ◽

10.32910/ep.69.6.2 ◽

2019 ◽

Vol 69 (6) ◽

pp. 638-654

Author(s):

Deaa Al-Deen Al-Sraheen ◽

Khaldoon Ahmad Al Daoud

Keyword(s):

Earnings Management ◽

Stock Exchange ◽

Ownership Concentration ◽

Future Research ◽

Family Ownership ◽

Board Independence ◽

New Ideas ◽

The Relationship ◽

Moderating Role

While often criticized, the independence of directors remains a crucial criterion for evaluating the effectiveness of the monitoring role of boards. This study examines the relationship between board independence and earnings management, paying attention to moderation role of family ownership concentration on this relationship using a sample of services companies listed on Amman Stock Exchange ASE. This study documented a significant and negative association between board independence and earnings management. In addition, the moderating role of family ownership concentration on this relationship was also negative. Thus, the board’s monitoring function was inefficient due to the concentration of ownership. These results were obtained through using multiple and sequential regression analysis for the research data from 2013 to 2016. This study provides new ideas for future research such as examining the impacts of the migration of capitals and investors from neighbouring countries such as Syria and Iraq.

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ANALISIS PENGARUH CORPORATE SOCIAL RESPONSIBILITY, TAX AVOIDANCE TERHADAP NILAI PERUSAHAAN DENGAN KEPEMILIKAN ASING SEBAGAI VARIABEL MODERASI PADA PERUSAHAAN MANUFAKTUR DI BEI PERIODE 2016 - 2018

Jurnal Akuntansi Bisnis ◽

10.30813/jab.v13i1.1976 ◽

2020 ◽

Vol 13 (1) ◽

Author(s):

Nikki Kwok ◽

Andi Gunawan Kwok

Keyword(s):

Corporate Social Responsibility ◽

Social Responsibility ◽

Firm Value ◽

Stock Exchange ◽

Tax Avoidance ◽

Foreign Ownership ◽

Manufacturing Companies ◽

Purposive Sampling ◽

Corporate Social ◽

The Relationship

Abstract: The main goal of the company is to maximize prosperity for shareholders, this can be achieved by maximizing the value of the company. This research was conducted to determine the factors that influence the value of the company to be studied are Corporate Social Responsibility and Tax Avoidance. The moderating variable in this study is Foreign Ownership. The sample of this research is manufacturing companies whose shares are listed on the Indonesia Stock Exchange for the period of 2016-2018 using purposive sampling method. While the analytical method used is the classic assumption test and hypothesis testThe results of this study indicate that corporate social responsibility has no influence on firm value, and tax avoidance has an influence on firm value. Foreign ownership is not able to be a moderating variable that strengthens the relationship between corporate social responsibility and corporate value while foreign ownership is able to be a moderating variable that strengthens the relationship between tax avoidance and firm value. Keywords: Firm value, Corporate Social Responsibility, Tax Avoidance and Foreign Ownership Abstrak: Tujuan utama perusahaan adalah untuk memaksimalkan kemakmuran bagi pemegang saham, hal ini dapat dicapai dengan memaksimalkan nilai perusahaan. Penelitian ini dilakukan untuk mengetahui faktor-faktor yang mempengaruhi nilai perusahaan yang akan diteliti adalah Corporate Social Responsibility dan Tax Avoidance. Variabel Moderating pada penelitian ini adalah Kepemilikan Asing.Sampel penelitian ini adalah perusahaan manufaktur yang sahamnya terdaftar di Bursa Efek Indonesia periode 2016-2018 dengan menggunakan metode purposive sampling. Sedangkan metode analisis yang digunakan adalah uji asumsi klasik dan uji hipotesis. Hasil penelitian ini menunjukkan bahwa corporate social responsibility tidak memiliki pengaruh terhadap nilai perusahaan, dan tax avoidance memiliki pengaruh terhadap nilai perusahaan. Kepemilikan asing tidak mampu menjadi variabel moderating yang memperkuat hubungan antara corporate social responsibility dengan nilai perusahaan sedangkan Kepemilikan asing mampu menjadi variabel moderating yang memperkuat hubungan antara tax avoidance dengan nilai perusahaan. Kata Kunci: Nilai Perusahaan, Corporate Social Responsibility, Tax Avoidance dan Kepemilikan Asing.

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Differentiation Strategy, CSR, And Real Activities Earnings Management: Evidence From Korea

Journal of Applied Business Research (JABR) ◽

10.19030/jabr.v33i4.9988 ◽

2017 ◽

Vol 33 (4) ◽

pp. 667 ◽

Cited By ~ 1

Author(s):

Sungbin Chun ◽

Eunho Cho

Keyword(s):

Earnings Management ◽

Negative Relationship ◽

Synergy Effect ◽

Listed Firms ◽

Differentiation Strategy ◽

Sensitivity Tests ◽

Corporate Social ◽

The Relationship ◽

Moderating Role

We empirically investigate whether a differentiation strategy constrains real activities earnings management (RAEM). Further, considering corporate social responsibility (CSR) activities are a popular tool of differentiation strategy, we examine whether interactive synergy between CSR activities and the differentiation strategy strengthens the negative relationship between differentiation strategy and RAEM. Using a sample of 659 firm-year observations of Korean manufacturing listed firms during 2005-2010, we find that differentiation strategy is negatively associated with RAEM, suggesting that firms pursuing a differentiation strategy are likely to refrain from managing earnings using RAEM that goes against their strategy. We also observe that interactive synergy between differentiation and CSR strengthens the negative relationship between differentiation strategy and RAEM, implying that synergy effect between CSR and differentiation strategy even more constrains RAEM that is in conflict with both CSR and differentiation strategy. These findings are robust after we perform sensitivity tests. This study contributes to the literature by providing the first evidence on the relationship between differentiation strategy and RAEM and the moderating role of CSR activities on the relationship.

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CORPORATE SOCIAL RESPONSIBILITY AND EARNINGS MANAGEMENT: THE ROLE OF CORPORATE GOVERNANCE

Humanities & Social Sciences Reviews ◽

10.18510/hssr.2019.75172 ◽

2019 ◽

Vol 7 (5) ◽

pp. 1338-1347

Author(s):

Gemi Ruwanti ◽

Grahita Chandrarin ◽

Prihat Assih

Keyword(s):

Corporate Governance ◽

Corporate Social Responsibility ◽

Social Responsibility ◽

Earnings Management ◽

Firm Size ◽

Good Corporate Governance ◽

Corporate Social ◽

Relationship Of ◽

The Relationship

Purpose: The purpose of this paper is to examine the role of corporate governance in the relationship of Corporate Social Responsibility (CSR) and firm size to earnings management of manufacturing firms in Indonesia. Methodology: The study draws on data from 66 firms listed in Indonesian Stock Exchange from 2014 to 2017, using a multiple regression model. The present study examines the influence of CSR on earnings management, and the impact of corporate governance on the relationship between CSR and firm size with earnings management. Main Findings: The finding showed that the effect of CSR on earnings management was significant and positive. The study also finds a statistically significant negative relationship between firm size and earnings management. The evidence also shows the role of corporate governance in the relationship of CSR and firm size to earnings management is significant and negative, it means that when the firm has good corporate governance, the firms that allocate CSR funds are relatively large, then it will tend not to practice earnings management, likewise large firms with good corporate governance will tend not to do earnings management. Research limitations/implications: The present study does not include all possible other variables that influence earnings management. Further research might increase the scope of research objects by extending the study period and need to pay attention to the firm's macro factors or economic risk factors outside of financial performance so as to provide a more comprehensive picture of the results of the study. Originality/value: The study focuses on the role of corporate governance issues such as the independence and activity of the boards and their influence on earnings management. The subject analyses the possible impact of CSR and firms size-related earnings management that has received much attention from academic research, which has largely focused on studying the publications of corporate governance in Indonesia context and can be contributes thoughts about the importance of corporate social responsibility activities that are reported as a basis for consideration incorporate policy-making to further enhance corporate awareness in the social environment, as well as the importance of corporate governance to minimize earnings management practices.

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The Role of Small and Medium Practices in the Sustainability Reporting of Italian Small and Medium Enterprises

Research Anthology on Small Business Strategies for Success and Survival ◽

10.4018/978-1-7998-9155-0.ch023 ◽

2021 ◽

pp. 452-474

Author(s):

Marisa Agostini ◽

Ericka Costa ◽

Carlo Bagnoli

Keyword(s):

Corporate Social Responsibility ◽

Small And Medium Enterprises ◽

Sustainability Reporting ◽

Web Survey ◽

Economic Returns ◽

Practical Support ◽

Medium Enterprises ◽

Corporate Social ◽

The Relationship

Small and medium enterprises (SMEs) have a prominent role in both the European and the Italian economies, but their approach towards corporate social responsibility (CSR) and sustainability is still underdeveloped. The reasons are mainly related to perceived low economic returns, lack of enforced compliance of the legislation, limited financial and practical support. In overcoming these problems, the role of small and medium practices (SMPs) can be determinant due to the relationship between SMEs and their (not only accounting) consultants. This chapter focuses on SMPs' role in promoting SMEs' initiatives and also considers the academic debate about their sustainability reporting. The investigation of this stream of research and the results of a web survey (involving SMPs in the Northeast of Italy) emphasize how SMPs can support SMEs' sustainable practices and reporting.

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Active family control and company performance: the role of foreign investment moderation and bank debt

Jurnal Manajemen ◽

10.24912/jm.v22i1.311 ◽

2018 ◽

Vol 22 (1) ◽

Author(s):

Perminas Pengeran

Keyword(s):

Family Firms ◽

Stock Exchange ◽

Foreign Ownership ◽

Company Performance ◽

Bank Debt ◽

Family Control ◽

The Family ◽

The Relationship ◽

Moderating Role

This study was to examine the moderating role of foreign ownership and Bank debt on the influence of active family control toward the family firm performance. Based on purposive sampling techniques, this study used 18 family firms listed in Indonesia Stock Exchange (IDX), during the period of 2006-2011. The results of this study showed several important findings. Firstly, foreign ownership positively moderated the effect of active family control on profitability. Secondly, likewise, bank debt negatively moderated the effect of active family control on profitability. Thirdly, foreign ownership negatively moderated the effect of active family control on dividends payment. Finally, bank debt positively moderated the influence of active family control on dividends payment. These results revealed that the foreign ownership and bank debt serves as moderator on the relationship between active family control and financial performance.

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Does ownership structure affect firm performance? Evidence from Nigerian listed companies

Corporate Ownership and Control ◽

10.22495/cocv9i1c5art2 ◽

2011 ◽

Vol 9 (1) ◽

pp. 503-513

Author(s):

Ioraver N. Tsegba ◽

Joseph K. Achua

Keyword(s):

Firm Performance ◽

Ownership Structure ◽

Stock Exchange ◽

Foreign Ownership ◽

Ordinary Least Squares ◽

Policy Implications ◽

Insider Ownership ◽

Ownership Structures ◽

Concentrated Ownership ◽

The Relationship

This paper examines the relationship between ownership structure and firm performance from the perspective of listed Nigerian companies. The sample comprises 73 companies listed on the Nigerian Stock Exchange for which relevant financial data is available for the period 2001 to 2007. The empirical results obtained through ordinary least squares (OLS) analysis provide evidence which suggests that dominant shareholding, ownership concentration, and foreign ownership structures have no significant effect on firm performance. However, insider ownership is inversely related to firm performance. Two major policy implications emerge from the results of this study. First, since ownership structures such as, dominant shareholding, concentrated ownership, and foreign ownership have no significant effect on firm performance, government emphasis on them is misplaced. Second, insider ownership of Nigerian firms is to be monitored closely by shareholders due to the adverse effect of this ownership structure on firm performance.

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The role of earnings management in the relationship between accruals and market value

Investment Management and Financial Innovations ◽

10.21511/imfi.15(1).2018.20 ◽

2018 ◽

Vol 15 (1) ◽

pp. 236-244

Author(s):

Nasim Aryannejad ◽

Mohammadhossein Ghaemi ◽

Keyhan Maham

Keyword(s):

Earnings Management ◽

Stock Exchange ◽

Statistical Tests ◽

Market Value ◽

Discretionary Accruals ◽

Expected Return ◽

Cross Sectional ◽

Selective Approach ◽

The Relationship

The paper aims to clarify the role of earnings management in the relationship between accruals and the market value of companies. Previous studies suggest that some managers, for providing a desirable image of their performance, manage their profits through distorting cash or accruals. Consequently, investors rely on this information and estimate inaccurate stability of accruals which lead to mispricing phenomenon. Finally, the returns earned by the investors will not be equal to the expected return and thus the accrual anomaly will be created.To this aim, two hypotheses were developed and three regression models were applied to analyze the data. To analyze and estimate the models employed, the financial information of 110 companies listed on the stock exchange between years 2008 to 2014 is used. A selective approach to test the hypotheses is studying cross-sectional data.After conducting statistical tests, the results showed that discretionary accruals through which earnings management is done are improperly valued by the market, but the issue is not applicable regarding the non-discretionary accruals. Based on the close relationship between earnings management and discretionary accruals it can be found that earnings management can have an effect on the relationship between accruals and market value.

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