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Journal articles on the topic 'Abnormal financial flows'

Author: Grafiati

Published: 8 June 2024

Last updated: 31 July 2025

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1

Zhang, Qingyang. "Financial Data Anomaly Detection Method Based on Decision Tree and Random Forest Algorithm." Journal of Mathematics 2022 (April 16, 2022): 1–10. http://dx.doi.org/10.1155/2022/9135117.

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The fast-developing computer network not only brings convenience to people but also brings security problems to people due to the appearance of various abnormal flows. However, various current detection systems for abnormal network flows have more or less flaws, such as the most common intrusion detection system (IDS). Due to the lack of self-learning capabilities of market-oriented IDS, developers and maintenance personnel have to update the virus database of the system in real time to make the system work normally. With the emergence of machine learning and data mining in recent years, new i

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2

Liu, Nan. "Refinement of the FCF motive for stock repurchases." Asian Review of Accounting 28, no. 2 (2019): 213–28. http://dx.doi.org/10.1108/ara-03-2018-0067.

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Purpose The purpose of this paper is to investigate factors that influence the free cash flow (FCF) motive for stock repurchases. Specifically, it examines whether the positive association between FCF and open-market repurchases is partially driven by abnormal cash flows, and whether external analyst monitor and financial crisis influence the association. Design/methodology/approach The study employs a tobit regression model to test the hypotheses. Findings First, the results suggest that the positive association between FCF and stock repurchases is partially driven by abnormal cash flows. Sec

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Machdar, Nera Marinda. "Does Tax Avoidance, Deferred Tax Expenses and Deferred Tax Liabilities Affect Real Earnings Management? Evidence from Indonesia." Jurnal Institutions and Economies 14, no. 2 (2022): 117–48. http://dx.doi.org/10.22452/ijie.vol14no2.5.

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The study analyses the effect of tax avoidance, deferred tax expenses and deferred tax liabilities on real earnings management. The samples consist of 152 manufacturing companies listed on the Indonesian Stock Exchange (IDX). The study examines the financial statements from 2011 to 2019, ending up with 1,368 observations. The empirical results of this study are as follows. First, tax avoidance affects positively the abnormal discretionary operating cash flows and the abnormal discretionary expenses. However, tax avoidance does not affect the abnormal discretionary production costs. Second, def

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Damayanti, Vidia, and Yeterina Widi Nugrahanti. "Financial Distress terhadap Manajemen Laba Dengan Mekanisme Corporate Governance sebagai Pemoderasi." AFRE (Accounting and Financial Review) 5, no. 2 (2022): 186–97. http://dx.doi.org/10.26905/afr.v5i2.7763.

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This study aims to determine the effect of financial distress on earnings management with corporate governance mechanisms as a moderating variable. Earnings management in this study is measured by real earnings management, namely abnormal operating cash flows. The level of financial distress in this study is proxied by leverage. This study uses 135 samples of manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2018-2020 with a total of 405 observations. This study uses Generalized Least Square (GLS) panel data regression. The results showed that financial distress had a pos

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Rufus, I. Akintoye, Festus ADEGBIE Folajimi, and FALAYI Ibukun. "Sustainability Reporting and Abnormal Operating Cash Flows of Multinational Corporations in Sub-Saharan Africa." International Journal of Management Sciences and Business Research 10, no. 12 (2021): 17–31. https://doi.org/10.5281/zenodo.5824495.

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<em>The conventional annual report and accountsmay contain elements of earnings management (abnormal operating cash flows) which is often hidden and not easily discernible. Annual report and accountshas been criticized severally for lacking the capacity to present the genuine picture of an organization impacts on the operational environment and support strategic allocation of resources in in a dynamic environment. The paper, therefore, investigated the effect of sustainability reporting as a panacea for abnormal operating cash flows among multinational corporations in Sub-Saharan Africa. Adopt

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Liu, Ye, and Changjiang Lyu. "Research on methods of IPO earnings management: case of Guirenniao." Nankai Business Review International 7, no. 4 (2016): 491–509. http://dx.doi.org/10.1108/nbri-01-2016-0003.

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Purpose The performance of the first batch of listed companies since the restart of new initial public offerings (IPOs) in January 2014 and their accounting information face repeated and volatile questioning from different sides. This paper aims to take Guirenniao (China) Co. Ltd. (GRN for short), one of the first batch of listed companies in 2014 that suffered performance decline, as an example to analyze how it managed earnings before IPO. Design/methodology/approach This paper examines earnings management signs that exist in GRN through analysis of its financial statements compared to those

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Efretuei, Ekaete. "International Financial Reporting Standards and sales manipulation in failed firms." FINANCIAL REPORTING, no. 1 (June 2025): 51–79. https://doi.org/10.3280/fr202516191.

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Purpose: I examine whether sales manipulation in failed firms that adopted the International Financial Reporting Standards (IFRS) differ from that of failed firms that did not. This inquiry is motivated by a paucity of research on the consequences of IFRS reporting for failed firms given the recent changes in accounting standards affecting revenue recognition and normal levels of cash flows. Design/methodology/approach: Using a sample of United Kingdom (UK) firms that declared bankruptcy between 2006 and 2016, I apply regression analysis and a difference-in-differences approach to assess wheth

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Konchitchki, Yaniv. "Inflation and Nominal Financial Reporting: Implications for Performance and Stock Prices." Accounting Review 86, no. 3 (2011): 1045–85. http://dx.doi.org/10.2308/accr.00000044.

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ABSTRACT: The monetary unit assumption of financial accounting assumes a stable currency (i.e., constant purchasing power over time). Yet, even during periods of low inflation or deflation, nominal financial statements violate this assumption. I posit that, while the effects of inflation are not recognized in nominal statements, such effects may have economic consequences. I find that unrecognized inflation gains and losses help predict future cash flows as these gains and losses turn into cash flows over time. I also find significant abnormal returns to inflation-based trading strategies, sug

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9

Kim, Yongtae. "Discussion of Foreign Ownership and Real Earnings Management: Evidence from Japan." Journal of International Accounting Research 14, no. 2 (2015): 215–19. http://dx.doi.org/10.2308/jiar-10472.

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ABSTRACT Guo, Huang, Zhang, and Zhou (2015) examine whether foreign investors encourage or limit real earnings management in Japanese firms. They find that firms with higher foreign ownership engage less in real earnings management than other firms as evidenced by higher abnormal cash flows from operations, lower abnormal production costs, and higher abnormal discretionary expenses. While the results suggest that foreign ownership and real earnings management in Japanese firms are negatively correlated, it remains unclear whether foreign investors improve the corporate governance of firms and

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10

Cahyati, Ari Dewi. "DAMPAK PENERAPAN IFRS TERHADAP KUALITAS LAPORAN KEUANGAN DAN ARUS INVESTASI." JRAK: Jurnal Riset Akuntansi dan Komputerisasi Akuntansi 9, no. 1 (2018): 49–74. http://dx.doi.org/10.33558/jrak.v9i1.1362.

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Objective of this study is to determine whether IFRS convergence will improve the quality of financial statements as indicated by decreasing levels of information asymmetry and declining real earnings management. IFRS convergence is measured by Dummy variables years before convergence and year after covergency while accounting quality reporting is measured by decreasing earnings management level and decreasing level of information asymmetry. Real earnings management uses abnormal cash flow, abnormal discretionary expense and abnormal production cost (Roydhuchory, 2006) while information asymme

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Ghodrati, Hassan, Fatemeh Haftlang Mohammadjani, and Hossein Jabbari. "Determining the Relationship between the Items of the Cash Flow Statement with Abnormal Output in the Companies Enlisted in Stock Exchange Organization." JOURNAL OF SOCIAL SCIENCE RESEARCH 5, no. 3 (2014): 850–63. http://dx.doi.org/10.24297/jssr.v5i3.3407.

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The continuity of the operations, growth or decrease in the business activities of any company is in line with the on time and optimized funding of cash liquidity and suitable as well as the proper use of them in investment paths in the direction of creating output and ultimately, to increase the shareholders wealth. The goal of this research is to determine the relationship between cash liquidity and abnormal output of stocks. For this purpose, 130 companies were selected by employing simple random method among the companies were enlisted in Stock Exchange Organization. Different cash liquidi

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Souisa, Angeline Grece, Elisa Tjondro, Adhityawati Kusumawardhani, Arja Sadjiarto, and Tonny Stephanus Eoh. "The Role of Real Earnings Management (REM) in The Relationship between Financial Distress and Tax Planning." International Journal of Organizational Behavior and Policy 3, no. 2 (2024): 109–22. http://dx.doi.org/10.9744/ijobp.3.2.109-122.

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The aim of this study is to test the impact of real earnings management (REM) on the relationship between financial distress and tax planning. To survive and maximise financial potential in the face of financial distress, management tends to use accounting tactics to increase revenue in order to reach the company's target. The study sample comprises manufacturing sector firms listed in the IDX between 2018 and 2022. The total company sample consisted of 124 companies with 542 observations. The study employed robust random effect panel regression techniques. This research reveals that there is

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Feltham, Gerald A., and James A. Ohlson. "Residual Earnings Valuation With Risk and Stochastic Interest Rates." Accounting Review 74, no. 2 (1999): 165–83. http://dx.doi.org/10.2308/accr.1999.74.2.165.

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This paper provides a general version of the accounting-based valuation model that equates the market value of a firm's equity to book value plus the present value of expected abnormal earnings. Prior theoretical work (e.g., Ohlson 1995; Feltham and Ohlson 1995, 1996) assumes investors are risk neutral and interest rates are nonstochastic and flat. Our more general analysis rests on only two assumptions: no arbitrage in financial markets and clean surplus accounting. These assumptions imply a risk-adjusted formula for the present value of expected abnormal earnings. The risk adjustments consis

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Zheng, Zhiyong, Jian He, Yang Bian, Chen Feng, and Mengting Zhang. "How Does Capital Account Liberalization Affect Systemic Financial Risks? Evidence from China." Mathematical Problems in Engineering 2021 (April 16, 2021): 1–13. http://dx.doi.org/10.1155/2021/5512471.

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Capital account liberalization typically results in higher volumes of capital inflows and outflows for a country, yet abnormal cross-border capital flows may lead to overall financial risk accumulation, in turn causing tremendous damages to the economy. Using a time-varying parameter structural vector autoregression model with stochastic volatility (SV-TVP-SVAR), we identify time-varying effects of capital account liberalization on four types of systemic financial risks in China. Empirical results demonstrate that capital account liberalization, in the short run, can effectively curb the accum

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Cheng, Jun, Guangyi Miao, and Jing Kang. "Analysis of the Mechanisms Behind the "China Money Mystery"." Frontiers in Business, Economics and Management 16, no. 2 (2024): 223–25. http://dx.doi.org/10.54097/09q3vf92.

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The growth rate of China's broad money supply (M2) significantly exceeds the combined rates of economic growth and inflation, leading to a continuous rise in the ratio of M2 to GDP. This phenomenon is referred to as the "China Money Mystery." The explanation for this phenomenon involves several factors. Firstly, interest rate and exchange rate controls in the financial market lead to excessive increases in money demand. Secondly, financial repression results in excessive use of indirect financing and a lack of investment channels, further distorting money supply. Thirdly, the financial hoardin

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Sun, Lan. "Accrual mispricing in the era of corporate governance reforms." Asian Review of Accounting 28, no. 3 (2020): 373–94. http://dx.doi.org/10.1108/ara-08-2019-0143.

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PurposeThis study is primarily motivated by the increasing concern of the academic, practitioners, regulators and standard setters regarding the quality of earnings and financial reporting. The purpose is to investigate whether the accrual anomaly exists in Australia; whether the occurrence of the accrual anomaly is attributed to the discretionary accruals component stemming from managerial discretion; and the impact of corporate governance reforms on accrual mispricing.Design/methodology/approachThis study employs the Mishkin (1983) rational expectations test to examine whether the earnings e

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Banker, Rajiv D., and Lei (Tony) Chen. "Predicting Earnings Using a Model Based on Cost Variability and Cost Stickiness." Accounting Review 81, no. 2 (2006): 285–307. http://dx.doi.org/10.2308/accr.2006.81.2.285.

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We evaluate the descriptive validity of the cost behavior model for profit analysis using Compustat data. For this purpose, we propose an earnings forecast model decomposing earnings into components that reflect (1) variability of costs with sales revenue and (2) stickiness in costs with sales declines. We evaluate the predictive ability of our model by benchmarking its performance in forecasting one-year-ahead returns on equity against that of two other time-series models based on line item information reported in the income statement and in the statement of cash flows. Specifically, we consi

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Boedhi, Nico Radityo, and Dewi Ratnaningsih. "PENGARUH KUALITAS AUDIT TERHADAP MANAJEMEN LABA MELALUI AKTIVITAS RIIL." KINERJA 19, no. 1 (2017): 84. http://dx.doi.org/10.24002/kinerja.v19i1.536.

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This study examines the impact of audit quality on Real Earnings Management (REM). Real earningsÂ management is defined as management actions that deviate from normal business practices, undertaken withthe primary objective of meeting certain earnings thresholds (Roychowdhury, 2006). One proxy is taken for realÂ earnings management, while abnormal operating cash flows and proxy for audit quality are taken as the size ofÂ audit firm. Research samples are selected from the population of manufacturing companies listed in Bursa EfekÂ Indonesia from year 2007 to 2011. Sample criteria is companies w

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Sundvik, Dennis. "The impact of principles-based vs rules-based accounting standards on reporting quality and earnings management." Journal of Applied Accounting Research 20, no. 1 (2019): 78–93. http://dx.doi.org/10.1108/jaar-05-2018-0063.

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Purpose The purpose of this paper is to explore whether principles-based vs rules-based accounting standards have an effect on measures of financial reporting quality and earnings management strategies. Design/methodology/approach This study uses a firm-year-specific variable that captures the extent to which firms’ accounting and operating behavior is affected by the characteristics of a specific standard in the USA. Measures of absolute accruals, financial misconducts, signed abnormal accruals and abnormal cash flows are used to assess the effects. Findings The results show that absolute mag

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Bilal, Kimouche. "Accrual-based and cash-based earnings management in Algeria: substitution or complementary." Croatian Review of Economic, Business and Social Statistics 8, no. 1 (2022): 1–17. http://dx.doi.org/10.2478/crebss-2022-0001.

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Abstract Managers are often employed many alternatives for earnings management following their objectives or the financial reporting objectives; the commonly used are the accrual-based and cash-based earnings management. The literature reveals that managers adopt the two strategies in different ways, suggesting a mixed relationship between them. Hence, this study investigates the relationship between the two strategies of earnings management in Algeria, whether it is a substitute or complementary. The study included 30 Algerian companies during 2011-2019, so a total of 270 firm-year observatio

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Hollie, Dana, and Shaokun Carol Yu. "Do Reconciliations Of Segment Earnings Affect Stock Prices?" Journal of Applied Business Research (JABR) 28, no. 5 (2012): 1085. http://dx.doi.org/10.19030/jabr.v28i5.7248.

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While SFAS No. 131 is intended to increase the transparency of financial reporting using a management approach, it may reduce shareholders ability to interpret segment disclosures relative to the industry approach employed under SFAS No.14. This study investigates whether segment reconciliation differences affect stock prices and whether abnormal returns can be earned using information about two components of earnings: aggregated segment earnings and segment earnings reconciliations. We compute reconciliations as the difference between firm-level consolidated earnings and aggregated segment-le

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Myers, James N., Linda A. Myers, and Thomas C. Omer. "Exploring the Term of the Auditor-Client Relationship and the Quality of Earnings: A Case for Mandatory Auditor Rotation?" Accounting Review 78, no. 3 (2003): 779–99. http://dx.doi.org/10.2308/accr.2003.78.3.779.

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In this study, we document evidence on the relation between auditor tenure and earnings quality using the dispersion and sign of both absolute Jones-model abnormal accruals and absolute current accruals as proxies for earnings quality. Our study is motivated by calls for “mandatory auditor rotation,” which are based on concerns that longer auditor tenure reduces earnings quality. Multivariate results, controlling for firm age, size, industry growth, cash flows, auditor type (Big N versus non-Big N), industry, and year, generally suggest higher earnings quality with longer auditor tenure. We in

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Bazai, Nazir Ahmed, Mehtab Alam, Peng Cui, et al. "Dynamics and impacts of monsoon-induced geological hazards: a 2022 flood study along the Swat River in Pakistan." Natural Hazards and Earth System Sciences 25, no. 3 (2025): 1071–93. https://doi.org/10.5194/nhess-25-1071-2025.

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Abstract. This study examines the impacts of the unprecedented 2022 monsoon season in Pakistan's Swat River basin, where rainfall exceeded historical averages by 7 %–8 %. This extreme weather led to catastrophic debris flows and floods, worsening challenges for low-income communities. The resulting financial instability affected millions, causing significant damage to homes, crops, and transportation. The study employs a multidisciplinary approach, combining field investigations, remote sensing data interpretation, and numerical simulations to identify the factors contributing to debris flow i

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Kimouche, Bilal. "The Effect of Stock Market Listing on Real Earnings Management: Evidence From Algerian Companies." Naše gospodarstvo/Our economy 67, no. 4 (2021): 96–107. http://dx.doi.org/10.2478/ngoe-2021-0024.

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Abstract This paper aims to explore the effect of the Algiers Stock Exchange listing on real earnings management. The study included 14 non-financial non-listed companies during the period 2015-2019 and six non-financial listed companies during the period 2010-2019. Due to the small number of companies listed on the Algiers Stock Exchange, the period of study was extended in the case of listed companies to provide enough observations. The measurement of real earnings management is based on the model of abnormal cash flows from operations (Roychowdhury, 2006), while the hypothesis testing is ba

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Gupta, Pankaj Kumar, and Jasjit Bhatia. "Investment sensitivity and managerial decision making behaviour of Indian firms." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 61, no. 7 (2013): 2157–62. http://dx.doi.org/10.11118/actaun201361072157.

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Contemporary models of the financial theory support the proposition that the stock prices should be fundamentally a reflection of the discounted value of earnings. Accordingly the investors and analysts should base their expectations on the expected future cash flows that are logically correlated or have a carry over effect vis-ŕ-vis present stream of cash flows. This logically implies that the managers would have an incentive to manipulate investor’s expectation of future cash flows. The zeal to maximize the firm’s value based on market capitalization is expected to have a detrimental effect

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Raffat, Humaira, and Danish Ahmed Siddiqui. "Does Openness, and Productivity Matters for FDI: A Global Interactive Analysis Based on the Complementary Role of Institutions." Issues in Economics and Business 6, no. 2 (2020): 1. http://dx.doi.org/10.5296/ieb.v6i2.17402.

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Conventional wisdom suggested that investment flows in where you have abnormal returns that resulted in a high productivity area. However, FDI behaves peculiarly, as most are targeted towards developed countries where excess competition drives down returns and ultimately productivity. On the contrary, it shy in developing countries where one has more productive investment opportunities. This study tries to tackle the problem and explores the factors that influenced FDI flows. In particular, we focused on productivity, trade openness, financial liberalization, and institutions. Macro-level data

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Hsieh, Tien-Shih, Zhihong Wang, and Mohammad Abdolmohammadi. "Does XBRL disclosure management solution influence earnings release efficiency and earnings management?" International Journal of Accounting & Information Management 27, no. 1 (2019): 74–95. http://dx.doi.org/10.1108/ijaim-06-2017-0079.

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Purpose This study aims to investigate whether eXtensible Business Reporting Language (XBRL) disclosure management solution improves public companies’ earnings release efficiency and mitigates earnings management. Design/methodology/approach This study adopts a unique survey data set from the Financial Executives Research Foundation 2013 to identify companies’ XBRL implementation strategies. Earnings release efficiency is measured by earnings announcement time lag. Multiple indicators of both accruals- and real activities-based earnings management are adopted to examine the research hypotheses

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Shchetinin, Eugene Yu. "On anomalies detection in electrocardiograms with unsupervised deep learning methods." Journal Of Applied Informatics 17, no. 6 (2022): 81–93. http://dx.doi.org/10.37791/2687-0649-2022-17-6-81-93.

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Anomaly detection is an important task in various applications and areas of technology and production, such as structural defects, malicious intrusions into management and control systems, financial supervision and risk management, digital health screening, etc. The ever-increasing flows of diverse data and their structural complexity require the development of advanced approaches to their solution. In recent years, deep learning methods have achieved significant success in detecting anomalies, and unsupervised deep learning methods have become especially popular. Methods of anomaly detection

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Kozyuk, Victor. "PROMULGATION OF THE MACROPRUDENTIAL REGULATION AND THE GUIDELINES FOR THE NBU MACROPRUDENTIAL POLICY." JOURNAL OF EUROPEAN ECONOMY, Vol 17, No 2 (2018) (2018): 187–208. http://dx.doi.org/10.35774/jee2018.02.187.

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Post-crisis spread of macroprudential regulation requires some generalizations and identification of the ways of adapting it to Ukraine. Current consensus about taxonomy and functionality of macroprudential toolkit is corresponded with empirical findings of potential efficiency of such instruments to restrain credit and assets price inflation. At the same time, macroprudential policy may be vulnerable to possibilities of large borrowing abroad and credit activity leakage on unregulated segments of financial system. In the paper it is noted that commodity rich economies constitute a specific pr

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Boghdady, Ahmed. "The impact of ownership type on the relationship between corporate governance and earnings management: An empirical study." Corporate Ownership and Control 16, no. 4 (2019): 31–44. http://dx.doi.org/10.22495/cocv16i4art3.

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This study investigates the effect of ownership type on the relation between corporate governance and earnings management. While previous literature has mainly examined the relationship between corporate governance and both accrual and real earnings management, no study to date, to the researcher’s best knowledge, focused on the moderation effect of ownership type on this relationship. Three proxies for measuring accrual and real earnings management, namely discretionary accruals (DA), abnormal cash flows (ACFO), and abnormal discretionary expenses (ADISX) are employed. Three empirical models

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Sosnowski, Tomasz. "The credibility of earnings announced by new stock companies: accrual and real earnings management." Equilibrium 16, no. 3 (2021): 661–77. http://dx.doi.org/10.24136/eq.2021.024.

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Research background: An initial public offering (IPO) creates an excellent opportunity to research the impact of changes in the institutional environment of companies on the trustworthiness of the information disclosed in financial statements. Purpose of the article: The main aim of the study is to analyze the use of accrual and real earnings management to inflate earnings, revenue, or total assets around the going public event. Therefore, this paper contributes to the stream of study on the quality of financial reporting of new stock companies. Methods: Two main approaches reflect

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Sosnowski, Tomasz. "The credibility of earnings announced by new stock companies: accrual and real earnings management." Equilibrium 16, no. 3 (2021): 661–77. http://dx.doi.org/10.24136/eq.2021.024.

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Research background: An initial public offering (IPO) creates an excellent opportunity to research the impact of changes in the institutional environment of companies on the trustworthiness of the information disclosed in financial statements. Purpose of the article: The main aim of the study is to analyze the use of accrual and real earnings management to inflate earnings, revenue, or total assets around the going public event. Therefore, this paper contributes to the stream of study on the quality of financial reporting of new stock companies. Methods: Two main approaches reflect

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Salehi, Mahdi, Mahbubeh Mahmoudabadi, and Mohammad Sadegh Adibian. "The relationship between managerial entrenchment, earnings management and firm innovation." International Journal of Productivity and Performance Management 67, no. 9 (2018): 2089–107. http://dx.doi.org/10.1108/ijppm-03-2018-0097.

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PurposeThe purpose of this paper is to evaluate the qualitative effect of corporate governance components, in the form of managerial entrenchment index, on earnings management and innovation.Design/methodology/approachIn this study, the variable of managerial entrenchment, which includes the variables of management independence, dual role of management, management tenure, the board compensation and the board ownership percentage, was initially estimated through the exploratory factor analysis and its effect was evaluated on the dependent variables of the study using the test of multivariable r

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Hassan, Mohamad, and Evangelos Giouvris. "Financial institutions mergers: a strategy choice of wealth maximisation and economic value." Journal of Financial Economic Policy 12, no. 4 (2020): 495–529. http://dx.doi.org/10.1108/jfep-06-2019-0113.

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Purpose This study Investigates Shareholders' value adjustment in response to financial institutions (FIs) merger announcements in the immediate event window and in the extended event window. This study also investigates accounting measures performance, comparison of post-merger to pre-merger, including several cash flow measures and not just profitability measures, as the empirical literature review suggests. Finally, the authors examine FIs mergers orientations of diversification and focus create more value for shareholders (in the immediate announcement window and several months afterward)

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Xingyuan Li, Tianquan Liu, Shuiyang Pan,. "Analyzing the Efficacy of the Relative Strength Indicator of Capital Inflows and Outflows Based on Big Data Analysis in Achieving Abnormal Returns Evidence from the Chinese Stock Market." Journal of Electrical Systems 20, no. 2 (2024): 958–70. http://dx.doi.org/10.52783/jes.1259.

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This study originates from an analysis of market microstructure and introduces a novel statistical indicator of relative strength in capital flows through the application of big data analytics. This indicator effectively captures the impact of capital movements on future stock prices by integrating variations in stock prices with the volume of transactions within a corresponding timeframe. Building upon this foundation, the research develops an innovative momentum investment strategy based on the relative strength indicator of capital inflows and outflows, extending beyond the traditional fixe

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Krueger, Thomas, and Mark Wrolstad. "Portfolio Construction Using Key Fundamental Ratios and the DJIA Stocks." Journal of Finance Issues 10, no. 2 (2012): 71–81. http://dx.doi.org/10.58886/jfi.v10i2.2306.

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Index funds have attracted investors over the years by promising to lower fees, turnover, taxes, and other expenses while outperforming the average actively-managed fund. Portfolio indexation has historically focused on three main methods of portfolio weighting: price-weighting, market capitalization-weighting, and occasionally equal-weighting. More recently, attention has been focused on “fundamental weighting” using financial statement items like sales, total assets, EBIT, and dividends to weight stock portfolios. This research focuses on portfolios of the 30 Dow Jones Industrial Average (DJ

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Shirabe, Yuji, and Makoto Nakano. "Does Integrated Reporting Affect Real Activities Manipulation?" Sustainability 14, no. 17 (2022): 11110. http://dx.doi.org/10.3390/su141711110.

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Integrated reporting (IR) by firms is intended to improve not only the quality of information available to external parties, but also internal managerial decision making. IR is considered useful to address the short-term orientation of firms caused by pressure from short-term oriented shareholders. This study examines whether the introduction of IR discourages real activities manipulation, a form of myopic behavior. Using a large sample of Japanese listed companies, the study empirically tests the effect of IR on real activities manipulation through panel data regression analysis. We find that

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Ferentinou, Aikaterini C., and Seraina C. Anagnostopoulou. "Accrual-based and real earnings management before and after IFRS adoption." Journal of Applied Accounting Research 17, no. 1 (2016): 2–23. http://dx.doi.org/10.1108/jaar-01-2014-0009.

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Purpose – The purpose of this study is to examine the use of accrual-based vs real earnings management (EM) by Greek firms, before and after the mandatory adoption of International Financial Reporting Standards (IFRS). The research is motivated by the fact that past studies have indicated the existence of significant levels of EM for Greece in particular before IFRS. Design/methodology/approach – Accrual-based earnings management (AEM) is examined by assessing performance-adjusted discretionary accruals, while real earnings management (REM) is defined in terms of abnormal levels of production

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Sherif, Mohamed, and Cennet Tuba Erkol. "Sukuk and conventional bonds: shareholder wealth perspective." Journal of Islamic Accounting and Business Research 8, no. 4 (2017): 347–74. http://dx.doi.org/10.1108/jiabr-09-2016-0105.

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Purpose This study aims to comprehensively examine the stock market effects of announcements by firms to issue conventional bonds versus Sukuk. In addition, the authors investigate whether the choice of instrument depends on the tax status and government backing of the issuing firm. They split the sample into whole (2000-2015), pre-crisis (2000-2007) and post-crisis (2010-2015) subsamples. Design/methodology/approach The authors use event study methodology, market model and FTSE Bursa Malaysia EMAS index on 14 different event windows of which five are symmetric and nine are asymmetric. Further

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Kong, Ziqiao, Cen Zhang, Maoyi Xie, et al. "Smart Contract Fuzzing Towards Profitable Vulnerabilities." Proceedings of the ACM on Software Engineering 2, FSE (2025): 153–75. https://doi.org/10.1145/3715720.

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Billions of dollars are transacted through smart contracts, making vulnerabilities a major financial risk. One focus in the security arms race is on profitable vulnerabilities that attackers can exploit. Fuzzing is a key method for identifying these vulnerabilities. However, current solutions face two main limitations: 1. a lack of profit-centric techniques for expediting detection and, 2. insufficient automation in maximizing the profitability of discovered vulnerabilities, leaving the analysis to human experts. To address these gaps, we have developed VERITE, a profit-centric smart contract

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Maltseva, I., Y. Chernysh, and Y. Protsyuk. "Development of algorithms for early detection of cyberattacks on networks using machine learning." Communication, informatization and cybersecurity systems and technologies 1, no. 6 (2024): 105–15. https://doi.org/10.58254/viti.6.2024.08.105.

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Critical infrastructure protection and national security are enhanced by the security and reliability of networks. Various types of information circulate on these networks, ranging in classification from open to closed. The consequences of cyberattacks on these networks can be severe, including reputational damage, financial loss, operational disruption and data leakage. Traditional security methods, such as firewalls and anti-virus software, are becoming less effective against modern and ever-changing cyber threats. As a result, powerful network intrusion detection systems (IDS) have become i

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Dobrovolska, Olena, and Maryna Rozhkova. "Development of the Country’s Sustainable Cyberspace Strategy to Ensure the Country’s National Security." SocioEconomic Challenges 8, no. 2 (2024): 197–214. http://dx.doi.org/10.61093/sec.8(2).197-214.2024.

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This article is devoted to the assessment of the country’s sustainable cyberspace strategy by comparing the cyber security strategies of those countries that are economically developed and use advanced information and communication technologies. Based on the components of the National Cyber Security Index, a calculation was made for 10 countries, which made it possible to monitor the effectiveness of their cyber strategies and identify their shortcomings. The calculation is made for the years 2018 and 2021. During this period, no significant critical changes form abnormal indicators, but it is

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Zymovets, Vladyslav. "The excessive receivables of the enterprises: causes and consequences for the financial system of Ukraine." Economy and Forecasting 2019, no. 2 (2019): 5–18. http://dx.doi.org/10.15407/econforecast2019.02.005.

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In accordance with the established approach, excessive receivables are a manifestation of the crisis situation with inter-company settlements whose fundamental reason is the lack of liquidity and capital in the economy. Freezing cash into receivables slows down capital flows in the economy, generates systemic risks and negatively affects the companies' investment activities. In this article, excessive receivables are defined as the excess of the share of receivables in assets over its normal level, which is typical for a particular country's model of business financing, with due regard to sect

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Ji, Soo Yeon, Sampath Jayarathna, Anne M. Perrotti, Katrina Kardiasmenos, and Dong Hyun Jeong. "Identifying Patterns for Neurological Disabilities by Integrating Discrete Wavelet Transform and Visualization." Applied Sciences 14, no. 1 (2023): 273. http://dx.doi.org/10.3390/app14010273.

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Neurological disabilities cause diverse health and mental challenges, impacting quality of life and imposing financial burdens on both the individuals diagnosed with these conditions and their caregivers. Abnormal brain activity, stemming from malfunctions in the human nervous system, characterizes neurological disorders. Therefore, the early identification of these abnormalities is crucial for devising suitable treatments and interventions aimed at promoting and sustaining quality of life. Electroencephalogram (EEG), a non-invasive method for monitoring brain activity, is frequently employed

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Surana, Lotica. "Uncovering Systematic Risk in Crypto currency Markets: An Empirical Investigation Using DCC-GARCH Model." ANUSANDHAN – NDIM's Journal of Business and Management Research 5, no. 2 (2023): 11–26. http://dx.doi.org/10.56411/anusandhan.2023.v5i2.11-26.

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This study presents an analysis of the occurrence of structural flaws and spillovers of volatility among eight popular digital currencies, such as Bit coin (BTC), Litecoin (LTC), Ripple (XRP), BNBPrice, DOGECOINPrice,ETHEREUMPrice, TETHERPrice, and USDCOINPrice. The analysis covers the period from December 25, 2019, to August 25, 2022, utilizing various statistical tests such as the Chow Breakpoint Test, Cumulative Sum test, The Granger Causality Test, the LM test for ARCH, and Dynamic Conditional Correlation (DCC) GARCH model. The results of this research reveal being present structural break

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Dash, Santanu Kumar, Michele Roccotelli, Rasmi Ranjan Khansama, Maria Pia Fanti, and Agostino Marcello Mangini. "Long Term Household Electricity Demand Forecasting Based on RNN-GBRT Model and a Novel Energy Theft Detection Method." Applied Sciences 11, no. 18 (2021): 8612. http://dx.doi.org/10.3390/app11188612.

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The long-term electricity demand forecast of the consumer utilization is essential for the energy provider to analyze the future demand and for the accurate management of demand response. Forecasting the consumer electricity demand with efficient and accurate strategies will help the energy provider to optimally plan generation points, such as solar and wind, and produce energy accordingly to reduce the rate of depletion. Various demand forecasting models have been developed and implemented in the literature. However, an efficient and accurate forecasting model is required to study the daily c

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Phong, Nguyen Anh, Phan Huy Tam, and Nguyen Thanh Tung. "Identifying Fraud Financial Reports Based on Signs of Income Management Using Machine Learning Technology: The Case of Listed Companies in Vietnam." Journal of International Commerce, Economics and Policy, May 9, 2024. http://dx.doi.org/10.1142/s1793993324500133.

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This study aims to use a measure of earnings management to predict companies whose financial statements have problems. This is an identification measure other than common measures to predict financial statement fraud such as measuring by the M-Score or the Z-score model that many previous studies have applied. In the income management measure, the author uses a measure of abnormal cash flow and abnormal expense flow to consider whether the corporate financial statements have problems or not. To do this, the author uses data from listed non-financial enterprises in the period from 2018 to 2022,

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Agarwal, Megha. "Earnings Versus Cash Flows: The Valuation Perspective." MUDRA : Journal of Finance and Accounting 3, no. 1 (2016). http://dx.doi.org/10.17492/mudra.v3i1.6806.

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This paper is an effort to compare the earnings based and cash flow based methods of valuation of an enterprise. The theoretically equivalent methods based on either earnings such as Residual Earnings Model (REM), Abnormal Earnings Growth Model (AEGM), Residual Operating Income Method (ReOIM), Abnormal Operating Income Growth Model (AOIGM) and its extensions multipliers such as Price/Earnings Ratio, Price/Book Value Ratio; or cash flow based models such as Dividend Valuation Method (DVM) and Free Cash Flow method (FCFM) all provide different estimates of valuation of the Indian giant corporate

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Aziani, Alberto, Joras Ferwerda, and Michele Riccardi. "Who are our owners? Exploring the ownership links of businesses to identify illicit financial flows." European Journal of Criminology, January 4, 2021, 147737082098036. http://dx.doi.org/10.1177/1477370820980368.

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This article investigates the patterns of business ownership in Europe, using a unique dataset on the nationality of 28.7 million shareholders of companies registered in 41 European countries. By means of an exploratory multivariate analysis, it tests whether ownership links between different countries are driven exclusively by social and macroeconomic variables – such as trade or geographical or cultural proximity – or are also related to measures of financial secrecy, corruption and lack of compliance with anti-money laundering regulations. The results indicate that factors other than licit

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Rocha, Cesar Augusto Camargos Rocha, and Marcos Antônio de Camargos. "Financing Decisions and Abnormal Returns: An Analysis of Brazilian Companies." Brazilian Business Review, August 30, 2023. http://dx.doi.org/10.15728/bbr.2022.1271.en.

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In this paper, we developed an approach for the empirical testing of the relationship between the financing choices of companies and the abnormal returns obtained by their shareholders. We innovate by incorporating controls on how this relationship is affected by the capabilities of each funding source, at different levels of returns, through quantile regression. The estimation of the model for a sample of Brazilian companies indicates the inexistence of a significant relationship between abnormal returns and debt issuance. The same occurs between abnormal returns and equity issuance, with one

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