To see the other types of publications on this topic, follow the link: Quality of financial reporting.
Dissertations / Theses on the topic 'Quality of financial reporting'
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the top 50 dissertations / theses for your research on the topic 'Quality of financial reporting.'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Browse dissertations / theses on a wide variety of disciplines and organise your bibliography correctly.
1
Baxter, Peter J. "Audit committees and financial reporting quality." University of Southern Queensland, Faculty of Business, 2007. http://eprints.usq.edu.au/archive/00003632/.
Full textAbstract:
[Abstract]:This research investigated whether the formation of audit committees and their characteristics are associated with improved financial reporting quality. Modified versions of the models developed by Jones (1991) and Dechow and Dichev (2002) provided three measures of earnings quality, which were used to proxy for financial reporting quality. The audit committee characteristics investigated were: independence, expertise, activity, size and tenure.Several contributions to knowledge are made by this research. First, this research examined the association between audit committee formation and financial reporting quality. This could not be done in many of the prior studies that used data on companies in the United States (Klein 2002a; Xie, Davidson and DaDalt 2003a; Bedard, Chtourou and Courteau 2004; Vafeas 2005; Yang and Krishnan 2005; Dhaliwal, Naiker and Navissi 2006), where audit committees have been mandatory for companies listed on the New York Stock Exchange since 1978. A large number of public and private sector groups have recommended mandatory audit committee establishment for all Australian listed companies. However, there has been a lack of empirical support for these recommendations and this research provides evidence regarding this association.Second, audit committees are more heavily regulated in the United States than Australia. Given the relative lack of audit committee regulation for Australian companies, Australia represented a richer empirical setting for the examination of the association between audit committee characteristics and financial reporting quality. The use of Australian company data for the selected time period, avoided the confounding effect of regulation on this association.Third, this research used both a modified version of the traditional Jones (1991) discretionary accruals model and the more recently developed accrual estimation error model from Dechow and Dichev (2002) to estimate proxies for financial reporting quality. Most of the prior studies predominantly used the Jones (1991) model, which has been subject to criticism in the literature. Therefore, the use of multiple models provides more powerful tests of the association between audit committees and financial reporting quality. Finally, this research included changes tests in addition to cross-sectional tests to reduce the likelihood of problems with omitted variables.Several conclusions can be drawn from the results. First, there was some evidence that earnings quality measured using the modified Jones (1991) model significantly reduced in the year following audit committee formation, thus providing some support for the notion that the formation of audit committees improves financial reporting quality. However, a comparison of these results with those of tests using earnings quality measures based on Dechow and Dichev (2002) indicates that audit committees appear more effective at reducing opportunistic earnings management, rather than total accrual estimation errors. Second, there was little evidence of a significant association between the characteristics of audit committees and improved financial reporting quality. Consequently, it can be suggested that, once audit committees are established, variations in their characteristics do not significantly affect financial reporting quality.These conclusions provide support for the mandatory audit committee requirement under the Australian Stock Exchange (ASX) listing rules, which became effective from 1 January 2003. However, there are doubts over the usefulness of several aspects of the ASX Corporate Governance Council's recommendations concerning the composition and size of audit committees.
2
Miková, Tereza. "IFRS Influence on Financial Reporting Quality." Doctoral thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-201134.
Full textAbstract:
Dissertation interfaces two current accounting issues: International Financial Reporting Standards and financial reporting quality. Theoretical framework begins with historical development and contemporary position of IFRS. It is followed by financial accounting quality where overview of methods is used for assessment of accounting quality. The literature underpinning represents the final part of theoretical part. Dissertation examines publicly traded Czech companies on Prague stock exchange and together their financial statements are presented under Czech accounting standards and later on switched on International Financial Reporting Standards. Final sample consists of 15 companies (222 firm-year observations) during period 1993-2013. World accepted models were adjusted before its application to be more convenient for Czech environment. Research results show that there are only limited improvements in financial reporting quality in IFRS period, only some companies are models applicable and therefore law and professional environment play significant role within quantitative methods.
3
Ghafran, Chaudhry. "Audit committees and financial reporting quality." Thesis, University of Sheffield, 2013. http://etheses.whiterose.ac.uk/4308/.
Full textAbstract:
This thesis examines the impact of audit committee characteristics on financial reporting quality in the context of a large sample of UK companies over the period 2007-2010. The notion of financial reporting quality is assessed by looking at the audit quality and earnings quality of the firms. This study utilises the audit fee and non-audit fee ratio as its proxies for audit quality and accruals based earnings management models as its proxies for earnings quality. The findings from the multivariate analysis show that audit committee meetings and financial expertise exert a significant positive impact on audit fees. Investigating expertise further, this study finds no support for the notion that accounting expertise influences audit fees, however a significant positive influence on audit fees is recorded for the non-accounting financial expertise. However, the holding of additional directorships has a significant negative impact on audit fees. This study also finds that audit committee members' financial expertise has a negative and significant impact on non-audit fee ratio suggesting a strong support of members with financial expertise on issues relating to auditor independence. The study also documents that audit committee members serving longer on the boards do not prefer to purchase high amount of non-audit services from the incumbent auditor. This study also records a significant positive impact of the holding of additional directorships on the provision of non-audit fee ratio, thus signifying a profound support for the busyness hypothesis which argues that overstretched directors are not very good monitors of financial reporting quality. Furthermore, this study finds broadly consistent evidence that audit committees meeting three or more times per year and fully independent audit committees exert a significant positive impact on the quality of reported earnings. This study also finds some evidence (depending on the earnings model used) that the level of ownership of audit committee members also exerts a positive impact on the quality of reported earnings, highlighting the fact that audit committee members with an equity stake in their companies are considered more effective in their oversight of the financial reporting process. On the other hand, this study finds evidence that the busyness of audit committee members (busyness defined in terms of the holding of board seats in other companies) has a significant negative impact on the quality of reported earnings. The composite variables (i.e. ACE1, ACE2, ACE3 and ACE4) representing those companies that satisfy all aspects of current best practice in terms of audit committee composition and operation, has a positive impact on the quality of reported earnings. This study covers the period 2007 to 2010 and therefore offers a contemporary analysis of the influence of audit committee characteristics on financial reporting quality. The study is very comprehensive in its scope not only in the selection of audit committee characteristics and methods employed to quantify these characteristics, but also in the use of various proxies developed to capture the true essence of financial reporting quality. The choice of multiple measurement methods both for the dependent and independent variables facilitates a much richer investigation into the relationship between governance and financial reporting quality variables. Therefore this study makes a major contribution to our understanding of the association between the various audit committee characteristics and financial reporting quality in the wake of recently introduced regulatory recommendations. These findings will also have policy implications as regulators around the world continue to define and refine the desired characteristics and behaviour of audit committees. Therefore, the findings of this study will ensure future policy changes regarding audit committees are adequately informed.
4
Zhang, Xiu-Ye. "Noncompliance, financial reporting quality and director turnover." Thesis, Lancaster University, 2016. http://eprints.lancs.ac.uk/79291/.
Full textAbstract:
In this thesis, I examine the effects of noncompliance with securities laws on financial reporting quality and director turnover. The thesis consists of three main chapters. Chapter 2 introduces the enforcement actions brought by the Securities and Exchange Commission (SEC), based on which I collect data on noncompliance cases. It also describes the data collection process and reports summary statistics for noncompliance cases. It contributes to our understanding of the SEC’s enforcement actions. The dataset is used in examining the effects of noncompliance with regulations on financial reporting quality and director turnover in Chapters 3 and 4, respectively. Chapter 3 investigates the association between noncompliance with securities laws and financial reporting quality. Compliance control and financial reporting quality are two overlapping aspects of control within the integrated internal control framework. I explore the association between compliance control and financial reporting quality by testing whether the rate of financial reporting problems is higher for firms that fail to comply with securities laws. I find that firms not complying with securities laws have significantly higher rates of financial reporting problems than control firms that do not violate securities laws. Furthermore, the results show that the effect is much stronger for accounting frauds than for accounting restatements, and the evidence is more pronounced in the post-noncompliance (with securities laws) windows than in the pre-noncompliance windows. This chapter presents the first empirical examination of the link between the compliance aspect of internal control and financial accounting problems. Chapter 4 investigates director turnover surrounding noncompliance events. While directors are expected to play a disciplining role, the evidence is still limited on this. I examine directors’ reactions to firm misconduct around the time when firms start to violate securities laws. I find, in general, that firms that failed to comply with securities laws (noncompliant firms) have significantly higher director turnover rates around the start of noncompliant than control firms. Noncompliant firms are also more likely to have unexpectedly departing directors around the start of noncompliance. When outside directors are examined separately, significantly higher director turnover is observed only for the pre-noncompliance period and not for the post-noncompliance period. These results suggest that directors are more likely to leave a firm if they perceive wrongdoing, while outside directors tend to leave before they could possibly be involved in the firm’s wrongdoing.
5
Al-Hussaini, Ahmed Nahar. "The quality of financial reporting practices in Kuwait." Thesis, Cardiff University, 2001. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.246533.
Full text
6
Nallasivan, Srinivasan. "Developing a quality score methodology for financial reporting." Thesis, Massachusetts Institute of Technology, 2006. http://hdl.handle.net/1721.1/35106.
Full textAbstract:
Thesis (S.M.)--Massachusetts Institute of Technology, System Design and Management Program, 2006.<br>Includes bibliographical references (p. 85).<br>Money laundering is a huge problem that is faced by financial institutions and banks are mandated by the government to have strict policies and procedures towards anti-money laundering reporting. The outcome of a complex investigation process is a Suspicious Activity Report (SAR) which is used by Financial Crimes Enforcement Network (FINCEN) to trace back criminals and to curb the money laundering activities. This thesis work involves developing a quality rating methodology for SAR reporting at the bank and rates the critical elements in determining the quality of a SAR. The results of the quality scoring mechanism have been validated by using Multivariate tools and techniques. Mahalanobis- Taguchi Strategy (MTS) and Principal Component Analysis (PCA) were used to come up with the measurement scale to distinguish the good and bad SARs and PCA was used to list the critical elements that were listed by the MTS approach. The results of the analysis were presented towards the end of the thesis and this methodology can be used to determine the quality rating of SARs.<br>by Srinivasan Nallasivan.<br>S.M.
7
Sun, Jialin. "Financial reporting quality, capital allocation efficiency, and financing structure: An international study." Diss., Connect to online resource, 2005. http://wwwlib.umi.com/dissertations/fullcit/3178321.
Full text
8
Lo, Kin Ying. "Essays on liquidity shocks and firms' financial reporting quality." Thesis, University of British Columbia, 2011. http://hdl.handle.net/2429/39814.
Full textAbstract:
Problems of endogeneity often cloud interpretation in studies on the relation between firm disclosure and external financing. This dissertation uses two different liquidity shocks as natural experiments to provide new evidence in this research area. The first essay makes use of tightened liquidity supply in the banking industry following monetary contractions for examining the impact of credible accounting information on corporate financing and investments. Theory suggests that asymmetric information will restrict banks’ ability to raise additional financing to offset the liquidity losses caused by monetary contractions. The attendant liquidity shortfall will force banks to hold back their investments (i.e., lending). Using external audits to proxy for accounting credibility and a sample of 9,910 small banks for which audits are voluntary, this paper finds that audited banks enjoy greater access to outside financing than other banks. Correspondingly, the lending of audited banks is less affected by policy-induced liquidity issues. Further results indicate that audited banks disclose higher quality accounting information that gives them greater reporting credibility and reduced information problems. In summary, this paper offers new evidence that credible disclosure facilitates corporate financing and investments.
The second essay identifies negative shocks to the supply of bank loans as exogenous events that motivate firms’ disclosure of management forecasts. Following loan supply distortions, borrowers have greater motives to finance through alternate capital sources. If forecasts enhance firms’ access to the public capital markets, borrowers have incentives to increase forecasts to facilitate capital raising to substitute for previously available loans. The test exploits the emerging-market financial crises in the late 1990s. These events were plausibly external to the U.S. loan markets, yet their effect was transmitted through U.S. banks' large loss exposures to the crisis areas which ultimately limited the lending of exposed banks. Accordingly, I predict and find evidence consistent with borrowers of exposed banks increasing forecasts following the crises to ease access to public financing. Further, these borrowers changed forecast characteristics in ways consistent with the use of forecasts to reduce investor uncertainty. Overall, these disclosure changes provide new evidence on how capital supply affects firms' incentives to issue forward-looking information.
9
Moretto, Edoardo <1993>. "Financial Reporting and Management Accounting: can Management Accounting provide support and value for a high quality Financial Reporting?" Master's Degree Thesis, Università Ca' Foscari Venezia, 2019. http://hdl.handle.net/10579/14830.
Full textAbstract:
In modern financial systems economic-financial information to the market is assuming an essential role in increasing market efficiency and in satisfying the investors's and istitutions's information need. Actually, financial information is the essential foundation of financial market operating mechanism since the role of such communication allows the reinforcement of relations between the enterprises and the financial system, through a faithful representation of business capabilities. It is the internal basic accounting system that keeps track of all the business activities. It is divided into two main specialized branches that share a common information base and process the basic accounting data in order to generate financial statements, reports, analysis or forecasts required by decision makers. Accounting information, which can be divided in two main streams, Financial Accounting (FA) and Management Accounting (MA), serves different purposes and is used by audiences with different needs. This work focuses on the relationship between FA and MA and on how there has been substantial convergence in the last years between these two areas of activities performed by enterprise orgsnizations. Particularly for some international accounting principles, it can be noticed how the accounting information and analysis techniques of MA can be useful or, in some cases, necessary for the purpose of providing informative elements for the correct application of the IFRS:
- IAS 36: Impairment of Assets.
- IFRS 8: Operating segments.
This research allows to observate how, in the financial dislosures relating to IFRS 8 and IAS 36, a good deal of information provided by the above accounting standards has either a forward-looking perspective, making reference to managerial estimations of the future cash flows relating to the assets under evaluation, or a business segment perspective. With financial statements prepared according to applicable accounting standards, the management communicates the firm's financial position and the performance achieved to the market. Market operators recognize that a higher quality financial communication can be pursued through an integration of the different types of report, provided by Financial Accounting, prepared according to International Financial Reporting Standards and based on FA systems, and Managerial Accounting, represented by scientific and statistical methods aimed at supporting decision-making and based on MA systems. This work focuses on relationships and differences between the two types of accounting, FA and MA, by comparing their purposes and their structure as well as analysing the current trend towards a stronger convergence and intergation between them. Notwithstanding this trend, FA and MA differ to each other in several ways. While shareholders, creditors and regulators use publicly reported financial accountancy information, only managers within the organization use the normally confidential MA information. MA is mostly focused on the future and characterized by a stronger presence of prospective information, while FA information are historical and provided on the base of applicable accounting principles. The contemporary digital era provides new means to satisfy different customer needs and to allow new and flexible methods to run business operations through collaboration and networks. On this regard this work contains a section focused on how IT technologies influenced and enabled convergence and integration of FA and MA. The importance of a well structured MA system in order to accomplish a high quality FA information, is of the utmost evidence when IAS 36 and IFRS 8 are taken into consideration. In the last part of the work, a sample of 3 Italian listed companies, Autogrill SpA, Luxottica SpA and Fincantieri SpA is analyzed in order to study the informative quality of their financial statements disclosures in the light of the requirements provided by the above accounting standards.
10
Kisaku, Jobra Mulumba. "Impact of Financial Reporting Frameworks on the Quality of Not-for-Profit Financial Reports." ScholarWorks, 2017. https://scholarworks.waldenu.edu/dissertations/4644.
Full textAbstract:
Even when clean audit reports are issued for not-for-profit organizations (NFPOs), misuse of donor resources may continue for years without detection by financial statement users. Previous research has established creative accounting, haphazard reporting, and fraud among NFPOs. As a result, aid has been reduced and some projects have been suspended. With Uganda as the study area, the key research question was the following: What is the impact of financial reporting frameworks on the quality of financial reports in Uganda, controlling for class of external auditors? The purpose of this quantitative, causal-comparative study was to establish whether reporting frameworks used by NFPOs in Uganda affect the quality of financial reports. Survey data through a researcher-developed instrument were collected from a purposefully selected sample of 74 NFPOs. Data included financial reporting frameworks as the independent variable, quality of financial reports as the dependent variable, and class of external auditors as a covariate. The data were analyzed using analysis of covariance. Dhanani and Connolly's accountability theory was adopted as the central theory. Findings indicated that there were no significant associations between financial reporting frameworks and quality of financial reports. The highest quality score was 25.2% with a mean of 15.6%, indicating poor NFPO quality reporting in Uganda. These findings support creation of a financial reporting framework for NFPOs. Such a framework could boost donor funding, uniform reporting, and standardized guidelines for external auditors, as well as increased transparency and government confidence in NFPOs.
11
Rich, Kevin T. "Audit committee accounting expertise and changes in financial reporting quality." Thesis, Connect to title online (Scholars' Bank) Connect to title online (ProQuest), 2009. http://hdl.handle.net/1794/10238.
Full text
12
Edlund, Henrik. "Reasons behind presumed low financial reporting quality (FRQ) in China." Thesis, Umeå universitet, Företagsekonomi, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-60385.
Full textAbstract:
China and its economic development is today something that affects us all in one way or another. Through economic expansion Chinese companies starts to be an important player on the global scene. They are getting an international competitor, co-operating with foreign companies and it has the latest year been heavily invested in by foreign financiers. Conversely, according to recent research a vast majority of the experts claims that the Chinese companies’ financial reporting disclosure holds a low quality. That these financial reports include plentiful falsified information is disturbing the market and prevents shareholders a fair and free view of the companies, it also reduces the control possibilities. Voices have been raised demanding changes to ensure a higher FRQ in the future. But to find the right actions and point out needed changes, the first requirement is finding the roots behind the presumed low FRQ. Experts’ point at different directions, comprising of nine main underlying reasons that are primarily considered affecting the FRQ in negative matters. These nine explanations will be evaluated against each other in this thesis to find out where the main focus needs to be to prevent future falsified financial statements. The nine reasons where it is claimed that China are lacking are: - Legal system -Education -Pressure -Political impact -Ownership structure -Auditing -Low Business ethics -Tax avoidance -Cost reduction This thesis finds that the main underlying reasons behind Chinese firms’ falsified financial stamen are: (1) Pressure – that influences managers and is a great incentive for earnings management. (2) Political impact – the political impact seem to have a substantial negative influence on companies FRQ. (3) Ownership structure – low transparency and hierarchal business structures appears to be biggest problems within the corporate governance. (4) Low business ethics – a too corrupt and non-moral business structure threatens the integrity of the financial reports. (5) Tax avoidance – the unwillingness to pay taxes makes many companies reduce earnings or hide sales to avoid value added tax (VAT). (6) Cost reduction – The high endeavor to keep costs down might in many cases also bring effects on the quality of disclosed material.
13
SHOPE, SAVANNAH MARIE. "CEO AND CFO GENDER AND THE QUALITY OF FINANCIAL REPORTING." Thesis, The University of Arizona, 2016. http://hdl.handle.net/10150/613626.
Full textAbstract:
Men and women exhibit significantly different attitudes, beliefs, and actions. These
differences may cause men and women to react differently when working in the business world.
This study examines the relationship between the gender of the CEO and CFO of a firm and the
quality of that firm’s financial reporting. I hypothesize that firms who employ a female CEO and
a female CFO will have higher quality financial reporting compared to those firms that employ a
male CEO and a male CFO. The results show that firms with female CEOs or CFOs show signs
of lower abnormal accruals compared to firms with male CEOs and CFOs. However, when a
firm employs a female CEO and a female CFO there is no statistically significant difference
from firms that employ at least one female as either the CEO or CFO. These results suggest that
firms that have at least one female as the CEO or CFO have higher financial reporting quality.
14
Alokaily, Jihad. "Financial reporting quality, auditor remuneration and corporate governance : UK evidence." Thesis, Durham University, 2014. http://etheses.dur.ac.uk/10833/.
Full textAbstract:
The recent global financial crisis has added fuel to the heated debate on whether boards of directors in general and audit committees in particular are effective in curtailing aggressive financial reporting practices and maintaining a transparent audit process. Specifically, UK regulators raised widespread concerns about the criteria of revenue recognition and the role of external auditors during and after the crisis, and re-emphasize the crucial role that audit committees could play in ameliorating financial reporting quality and safeguarding the quality of external audit. Despite this intense emphasis on the financial reporting and external audit oversight roles of internal governance mechanisms, there is still no empirical evidence confirming the effectiveness of these roles after the financial crisis. As such, this thesis contributes to the literature by using a sample of FTSE 350 firms listed on the London Stock of Exchange during the period between 2008 and 2010 to address two main empirical questions in two investigations. The first empirical investigation deals with the impact of audit committee and board characteristics on financial reporting quality. Two measures are employed to serve as surrogates for financial reporting quality. The first measure, which contributes to the uniqueness of this study, is discretionary revenues used to address misleading revenue recognition concerns by UK regulators, and discretionary accruals employed to account for the possibility of firms shifting from one earnings management method to another. The results reveal significant associations between a number of governance characteristics and discretionary revenues, but not discretionary accruals. This suggests that in response to UK intense regulatory scrutiny over the criteria of revenue recognition, firms’ revenue recognition process was subject to increased monitoring by boards in general and audit committees in particular, leading to better quality financial reporting. The second empirical investigation of this thesis examines the association between audit committee and board characteristics on the one hand and audit fees and non-audit fees on the other. The findings reveal that audit fees are positively related to governance mechanisms indicating that the oversight roles of audit committees and boards have positive impact on enhancing audit quality through demanding wider audit scope from external auditors. However, non-audit fees are also found to be positively related to audit committee meetings and board size, suggesting that the committee and the board support the simultaneous provision of audit services and non-audit services to facilitate a beneficial knowledge spill-over between the two services which in turn results in a better audit quality. Comparing the main results with those obtained from an additional analysis of a sample of firms listed in the pre-financial crisis period between 2005 and 2007 indicates that the effectiveness of governance mechanisms in enhancing financial reporting quality differs between regular and recession periods. Overall, most of the findings are consistent with the agency perspective. Those which are not consistent open avenues for future research to explore a multi-theoretical approach which takes into consideration the complexities of firms and their environmental circumstances.
15
Gafarov, Timur. "Kontrola kvality finančních výkazů pro zavedení systému vnitřní kontroly." Doctoral thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2009. http://www.nusl.cz/ntk/nusl-233732.
Full textAbstract:
Though at the enterprises the estimation of a financial condition is annually, it is necessary to develop, to improve constantly and to evaluate the system of the internal control, necessary to develop a technique of the reporting quality estimation of the enterprise specially for the certain enterprise in view of all features, to take advantage of statistical data and to draw corresponding conclusions, to make constant monitoring. The purpose of development of the mechanism - detection of deviations of data in the reporting from actual results of activity, definition of clauses causing distortion of a real financial condition of the enterprise, revealing of size of influence of the given distortions and qualities of the reporting as a whole on decision-making, and also revealing of the reasons causing these deviations and distortions, and development of recommendations on corresponding correction separate directions for improvement of quality of the reporting. How can high reporting quality and internal control create an advantage? In survey of institutional investors is reported that investors apply a penalty if they believe a company’s internal control to be insufficient. Sixty-one percent of respondents said they had avoided investing in companies and 48% had de-invested in companies where internal control was considered inadequate. As additional support, they study went on to report that 82% of respondents agreed that good internal control was worth a premium on share price. These institutional investors are pushing for greater transparency on risk issues and related internal control efforts. Simply put, an organization’s ability to implement and maintain a leading-class control framework can create competitive advantage in today’s market. A system of the financial reporting conducting with strong management, quality control and good legislative base is the key factor of economic development. The trust of investors in the financial and not financial information is based on strong Internal Control, high-quality standards of the financial reporting, audit and ethics, thus, standards and Internal Control play the leading part in assistance of economic growth and financial stability in the country. Nevertheless, every company meets the problems of implementation of the internal control. Among them there can be problems in labor qualification, legislation and so on. It is also necessary to examine the successful experience at the micro level.
16
McFie, James Boyd. "High quality financial reporting : the case of the Nairobi Stock Exchange." Thesis, University of Strathclyde, 2006. http://oleg.lib.strath.ac.uk:80/R/?func=dbin-jump-full&object_id=21664.
Full textAbstract:
This thesis investigates, firstly, the meaning of the phrase "high quality financial reporting". The use of the phrase in the academic literature, and by professional and regulatory bodies, is examined critically to contribute to a deeper understanding of the phrase. Disclosure in the annual reports of all 47 companies listed on the Nairobi Stock Exchange is examined to see if it can be described as "high quality". "High quality disclosure" is measured in three ways: (1) a disclosure index is developed to measure compliance with International Financial Reporting Standards (this index is also used to measure disclosure in the interim report); (2) a disclosure index developed by Standard and Poor's to measure Transparency and Disclosure is used; (3) these are compared with the scores achieved by the same annual reports in the Financial Reporting Excellence Award 2003, decided by adjudicators in Kenya. The thesis also investigates the association between selected corporate characteristics and "high quality disclosure". Testable hypotheses are formulated based on disclosure theories and prior studies: univariate and linear regression analysis are used to test whether significant independent variables explain "high quality disclosure", with the aim of contributing to understanding the applicability of disclosure theories to a capital market in a developing country. Interview research is employed to explore further matters related to "high quality financial reporting" in this developing country setting and to complement the quantitative analysis, so as to contribute to understanding the relevance of International Financial Reporting Standards in achieving high quality disclosure in this capital market. Conclusions are made as to the usefulness of accounting theories and other influences in explaining "high quality disclosure" by Nairobi Stock Exchange companies. A definition of "high quality disclosure" is proposed. The implications of the research, its contribution and its limitations are discussed. Suggestions for further research are presented.
17
Mehta, Mihir N. (Mihir Nandkishore). "Financial reporting quality and the quiet Life by Mihir N. Mehta." Thesis, Massachusetts Institute of Technology, 2010. http://hdl.handle.net/1721.1/67213.
Full textAbstract:
Thesis (Ph. D.)--Massachusetts Institute of Technology, Sloan School of Management, 2010.<br>Cataloged from PDF version of thesis.<br>Includes bibliographical references (p. 61-64).<br>Bertrand and Mullainathan (2003) find that managers shielded from the threat of takeovers exert less effort to maximize firm value, consistent with a 'quiet life' hypothesis. I study whether the governance role of financial reporting can mitigate adverse effects arising from managerial preferences for a quiet life. I hypothesize and find evidence that after changes in the mid 1990's to Delaware's takeover protection regime, Delaware firms with higher financial reporting quality (FRQ) have better operating performance and higher capital investment intensity. Furthermore, the above relation between FRQ and performance is stronger for firms operating in less competitive industries, and firms with staggered boards. Overall, the results suggest that financial reporting can help mitigate adverse effects associated with managerial preferences for a quiet life.<br>Ph.D.
18
Marsh, Stuart. "Auditor and client commitment to audit preparation in a quality audit process." Thesis, University of Central Lancashire, 2018. http://clok.uclan.ac.uk/23767/.
Full textAbstract:
Reflecting on the growing interest from scholars and practitioners and their awareness of the necessity to appreciate the involvement of the client in an audit process (Canning, Malsch & O’Dwyer, 2017), the aim of this study is to explore the importance of audit client commitment to comprehensive audit preparation, to improve the quality of a UK financial statements audit. This research is based on a qualitative approach employing semi structured interviews as a research method. Accordingly, interviews were undertaken with audit engagement leaders from a range of auditing firms as well as with finance directors from a range of audited clients. The perspectives as to the levels of preparedness for the first day of the financial statements audit commencing from each participant group were examined and were shown to reveal interesting results. The study unveiled the differences between what auditors and their clients perceived to be ‘ready’ for the financial statements audit. The availability of a completed set of financial statements when the auditors commence their audit has been identified as an issue that causes a significant amount of time pressures on the auditors. Additionally, the thematic analysis of data revealed that as a result of such pressures auditors were adopting practices whereby insufficient/substandard work was completed, which could potentially not only have an adverse effect on the overall quality of the audit, but also contribute to an inappropriate audit opinion being signed. Amendments to current auditing practices and the periods between a reporting period end and the audit work commencing to enhance audit quality was found to underpin the pressures on auditors when forming a time pressured audit opinion. This study of the challenges faced by auditors to plan and complete their audit with conflicting targets and time scales as well as the pressures felt by audit clients, provides audit preparedness specific, evidence based implications on which these may be surmounted to enable a quality, fully documented audit and supported audit opinion to be completed. This study addresses the pressing need to overcome the lack of theoretical discussions on the auditees’ perspectives on auditing practices, and their views on the specific factors enhancing audit quality. Based on the existing literature to date, no study has explored the “auditee” as a research object in scholarly discussions on the quality of a UK financial statements audit. The findings of this study, along with subsequent recommendations have relevance for the key stakeholders of audit engagements and regulators concerned with the enhancement of the quality of a UK financial statements audit, and for scholars interested in broadening their understanding of the audit process as a two-sided relationship.
19
Mohamad, Housam. "The impact of international financial reporting standards on earnings quality : EU evidence." Thesis, Brunel University, 2016. http://bura.brunel.ac.uk/handle/2438/15830.
Full textAbstract:
Earnings have numerous properties that can be investigated, including earnings smoothness, abnormal accruals after modelling the accruals process and asymmetric timely loss and gain recognition. In latest decades, as earnings are the main source of firm-specific information for investors, earnings quality has become a significant focus in the financial accounting field. Moreover, high-quality financial reporting helps investors improve decisions and better evaluate firm performance because capital markets depend on the credibility of financial accounting information. The aim of this study investigates the impact of the mandatory adoption of IFRS on earnings quality in term of earnings management and accounting conservatism in consideration of eleven European countries (Germany, France, Italy, The Netherlands, Spain, Sweden, Switzerland, Portugal, Belgium, Norway and the United Kingdom) as a sample study. Then to test whether investors could predict a company's future performance efficiently based on deferred tax expense as one of the accruals components before and after the mandatory adoption of IFRS. Since the mandatory adoption of International Financial Reporting Standards (IFRS) required by the European Union (EU) Parliament, numerous research studies have examined whether earnings management has been reduced due to the mandatory adoption. Chapter two of this study examines whether the board of directors is more effective in constraining earnings management after the mandatory application of IFRS. More specifically, the study explored ways that two board characteristics, board independence and the existence of an audit committee, have impacted earnings management since 2005. The empirical results with eleven European countries (Germany, France, Italy, The Netherlands, Spain, Sweden, Switzerland, Portugal, Belgium, Norway and the United Kingdom) showed evidence of an inverse relationship between the strength of corporate governance and the extent of earnings management. This negative association suggests that firms that apply IFRS with a high level of corporate governance standards are less likely to be involved in earnings management. This study indicates that board independence and the existence of audit committees play important and effective roles in reducing earnings management after the introduction of IFRS. The results also provide evidence that the internationally uniformed accounting regulatory framework significantly contributes to the effectiveness of the two corporate governance mechanisms. Chapter three examines the impact of the mandatory IFRS adoption on the asymmetrically timely gain and loss recognition (accounting conservatism). The findings provide evidence of the importance of the mandatory adoption of IFRS in increasing of accounting conservatism in pooled samples and separate samples. Chapter four investigates whether investors could predict a company's future performance efficiently based on deferred tax expense as one of the accruals components before and after the mandatory adoption of IFRS. Moreover, whether or not the predictions could be generalised to other European countries was examined. The results imply that an accrual anomaly exists in pooled samples before and after mandatory IFRS adoption and the study prove that deferred tax expense as a determinant factor of accounting accruals is overweighed by stocks prices before and after IFRS adoptions.
20
Akins, Brian Keith. "Financial reporting quality and uncertainty about credit risk among the ratings agencies." Thesis, Massachusetts Institute of Technology, 2012. http://hdl.handle.net/1721.1/77816.
Full textAbstract:
Thesis (Ph. D.)--Massachusetts Institute of Technology, Sloan School of Management, 2012.<br>Cataloged from PDF version of thesis.<br>Includes bibliographical references (p. 46-53).<br>I study whether financial reporting quality resolves uncertainty about credit risk by examining how it affects disagreement between rating agencies. I find better reporting quality is associated with less uncertainty about credit risk as captured by disagreement about ratings between the agencies. Further, my results are consistent with reporting quality becoming more important in reducing uncertainty when an agency does not have access to private information. Finally, I examine whether SFAS 142, which ended goodwill amortization and requires managerial estimates to determine potential impairments of goodwill, affected uncertainty about credit risk. I find increased uncertainty between agencies about the goodwill account for firms with significant goodwill after the implementation of SFAS 142. I contribute to the literature on the role of reporting quality in debt markets and on debt market information intermediaries.<br>by Brian Keith Akins.<br>Ph.D.
21
Haider, Imran. "CEO reputation and accounting and market-based measures of financial reporting quality." Thesis, Curtin University, 2016. http://hdl.handle.net/20.500.11937/1976.
Full textAbstract:
This thesis examines the impact of CEO reputation and power on three different aspects of financial reporting quality. The rent extraction and efficient contracting hypotheses suggest two conflicting behaviour of reputed CEOs. The thesis concludes that CEO reputation and power deteriorates the overall financial reporting quality of Australian firms. There are several implications for different stakeholders and contributions to the prior literature on CEO reputation, power, analysts’ forecast properties, earnings management and accounting conservatism.
22
Alsalhi, Faisal Saleh. "Financial Reporting Quality, Political Connectedness, and Monitoring Mechanisms: Evidence from Saudi Arabia." Thesis, Curtin University, 2022. http://hdl.handle.net/20.500.11937/88903.
Full textAbstract:
This study investigates the associations between financial reporting quality, political connectedness, and monitoring mechanisms (namely, strategic institutional ownership, internal audit sourcing arrangements, and audit quality) in Saudi Arabia. The study builds on a multi-theoretical framework to develop its hypotheses. Using 899 non-financial firm-year observations listed on the Saudi Capital Market between 2009 and 2017, findings show that political connectedness and strategic institutional investors enhance the quality of financial reports in the Saudi Arabian context.
23
Alsuhaibani, Azzam A. "The Impact of Social Ties between CEOs and CFOs on Financial Reporting Quality." Case Western Reserve University School of Graduate Studies / OhioLINK, 2018. http://rave.ohiolink.edu/etdc/view?acc_num=case1532084149612262.
Full text
24
McDougal, Karen H. "International Diversification and Earnings Quality: the Impact of Audit Quality." Diss., Temple University Libraries, 2011. http://cdm16002.contentdm.oclc.org/cdm/ref/collection/p245801coll10/id/123275.
Full textAbstract:
Business Administration/Accounting<br>Ph.D.<br>The literature on International Diversification suggests that investors and analysts value foreign earnings differently than domestic earnings. Prior studies also show an overall "valuation discount" for firms with foreign operations. To my knowledge, no study has empirically tested and found there to be differences in earnings quality for these firms. This study investigates differences in the quality of earnings for U.S. firms with foreign operations using a direct measure (discretionary accruals) and an indirect measure (investor perception of earnings). I also consider the impact of audit quality on each measure of earnings quality. In the first part of my dissertation I find firms with foreign operations report lower discretionary accruals than firms with only domestic operations. This indicates that auditors, similar to investors and analysts, report more conservatively for firms with foreign operations. My results show that audit quality further reduces the absolute value of reported accruals, and I find a higher level of reported "income decreasing" accruals for these firms. In the second section of my dissertation I consider the impact of audit quality on investor perception of earnings. Similar to earlier papers I find that foreign earnings changes are more highly associated with changes in firm value than domestic earnings changes, and this larger earnings response is attributed to negative changes in foreign earnings. I also find that audit quality improves investor perception of foreign earnings for firms with foreign operations. While there are ample studies demonstrating that firms with foreign operations are valued differently than firms with purely domestic operations, my study is the first to provide empirical evidence about how audit quality impacts financial reporting, the quality of earnings, and investor perception of earnings for firms with foreign operations.<br>Temple University--Theses
25
Mutschmann, Martin [Verfasser], and Matthias [Akademischer Betreuer] Pelster. "Essays on Corporate Governance and Financial Reporting Quality / Martin Mutschmann ; Betreuer: Matthias Pelster." Lüneburg : Universitätsbibliothek der Leuphana Universität Lüneburg, 2018. http://d-nb.info/1171521316/34.
Full text
26
Zakaria, Abdul-Malik Seidu. "Impact of Fiscal Decentralization on Quality Financial Reporting at the Districts in Ghana." Thesis, Walden University, 2015. http://pqdtopen.proquest.com/#viewpdf?dispub=3706084.
Full textAbstract:
<p> This study examined the impact of fiscal decentralization on quality financial reporting at the local government level in Ghana. The study is important because it provides development partners with the assurance that Metropolitan, Municipal, and District Assemblies (MMDAs) funds are used for their intended purposes. The study was based on the theory of local public expenditures, which posits that fiscal decentralization may enhance local capacities for service delivery. The key research question examined the extent to which fiscal decentralization has influenced quality financial reporting at the local level. The research design was quantitative, randomly sampling stakeholders in the local government structures including traditional rulers, assembly members, principal spending officers, budget officers, auditors, and accountants (<i>n</i> = 65). Descriptive plots, Pearson chi-square, and multiple regression analysis were used to examine the relationship between the dependent variable of quality financial reporting and the independent variables of expenditure responsibilities, taxation powers, intergovernmental fiscal transfers, and borrowing powers. The results of the analysis revealed taxation powers to be the most significant contributor to quality financial reporting. Quality financial reporting improved internally-generated resources, reduced audit queries, and served as a basis for granting funds to MMDAs. The study recommends that MMDAs be given taxation powers to enable local assemblies to generate more revenue so as to minimize the need for the transfer of funds from development partners and central government. The significant social change implication of this study lies in giving MMDAs control of service delivery at the local level.</p>
27
Ogbenjuwa, Emmanuel Inalegwu. "Implementation of International Financial Reporting Standards by listed companies in Nigeria." ScholarWorks, 2016. https://scholarworks.waldenu.edu/dissertations/2327.
Full textAbstract:
This study is on implementation of International Financial Reporting Standards (IFRS) by reporting entities in Nigeria. Since Nigeria adopted IFRS in 2010, managers of reporting entities have been confronted with organizational changes both in the structures and processes of financial reporting. Previous studies have not assessed the claims that adopting IFRS improves the quality of financial reports and managerial efficiency. This study evaluated the assertion that IFRS adoption impacts the quality of financial reports, operational costs, and operational efficiencies of management. The theoretical frameworks which undergirded the study were theories of organizational behaviors and attitudinal change. Data were collected via a stratified sampling of 520 respondents who completed a 5-point Likert scale, which has a long history of reliability and usage in social science research. This study adopted a documentary review of financial statements before and after IFRS implementation to evaluate how IFRS adoption affected them. Logistic regression was used to test the main effects of IFRS adoption as independent variable to predict managerial efficiency as outcome variable. The study found statistically significant improvement in the quality of financial reporting and managerial efficiency following IFRS adoption. Participants' perceptions about IFRS measured on the attitudes scale did not significantly predict managerial efficiency, however, and the cost and benefit of implementing IFRS had no significant relationship with managerial efficiency. The study has positive social change implications as its findings, when implemented, may lead to more efficient company management, business expansion, improved government accounting oversight, more job opportunities, and reduced crime rates.
28
Nie, Dongfang. "Two Essays on Non-GAAP Reporting." Thesis, University of North Texas, 2019. https://digital.library.unt.edu/ark:/67531/metadc1505239/.
Full textAbstract:
This dissertation investigates the interrelationships between a client's non-GAAP earnings disclosures, financial health (profit and loss status), and the external auditor's assessment of the client's going concern status. This dissertation comprises two essays. Essay 1 examines the informativeness and the quality of non-GAAP earnings disclosures in profit and loss firms separately. Using a large sample of non-GAAP earnings voluntarily disclosed by managers, I find that the informativeness and the quality of non-GAAP earnings vary in firms cross-classified by GAAP loss status and non-GAAP loss status. I also find that loss firms have higher quality non-GAAP exclusions relative to profit firms, although the expenses excluded by both profit and loss firms are associated with firms' future performance. Further, I posit and find that profit firms which voluntarily disclose non-GAAP losses have high-quality exclusions, while other non-GAAP reporting profit firms have low-quality exclusions. Having found that non-GAAP earnings in loss firms is opportunistic to some extent, I next study, in Essay 2, whether auditors understand the implications of low-quality non-GAAP reporting in these firms. Specifically, I examine 1) whether non-GAAP earnings disclosures are associated with the propensity of the auditor's going concern issuance to loss firms, and 2) whether non-GAAP earnings disclosures affect the accuracy of the auditor's going concern assessment. This is important because auditors often conduct audits of loss firms that disclose non-GAAP earnings, and the consequences of issuing wrong audit opinions can be severe. I find that the propensity of the auditor's going concern issuance is negatively associated with the magnitude of expense exclusions in loss firms, after controlling for determinants of going concern opinions that are derived from GAAP earnings. This finding suggests that auditors take into account information embedded in non-GAAP earnings when assessing clients' going concern status. Using bankruptcy outcome as a benchmark, I find that non-GAAP earnings disclosures could increase type II errors in auditors' going concern reporting. I further find that small size auditors and non-specialist auditors are more likely to be misled by non-GAAP reporting when making going concern decisions. In sum, my dissertation furthers our understanding of non-GAAP reporting and its implication for auditors' decision making for issuing going concern opinions.
29
Alappatt, Thomas Mathew. "Impact of Adoption of International Financial Reporting Standards and Financial Crisis on Accounting Quality of Australian Listed Companies." Thesis, Curtin University, 2020. http://hdl.handle.net/20.500.11937/81670.
Full textAbstract:
The study investigated whether the adoption of International Financial Reporting Standards (IFRS) and the financial crisis effected the accounting quality of Australian listed companies. Earning management, timely loss recognition and value relevance are used to evaluate accounting quality. It is found that both the events have not affected the accounting quality because of the quality of Australian Accounting Standards Board standards used before adoption of IFRS and a good regulatory system in Australia.
30
Naimi, Abyaneh Ali. "Trois études sur le reporting et la réglementation bancaire." Thesis, Université Grenoble Alpes (ComUE), 2015. http://www.theses.fr/2015GREAG005.
Full textAbstract:
Cette thèse se compose de trois chapitres distincts. Le premier chapitre étudie la tentative d'harmonisation de la réglementation financière et de la divulgation de l'information financière par l'Union Européenne. Ces réglementations financières sont appliquées à travers un ensemble de directives avec un objectif commun. Nous étudions l'impact de ces changements sur l'asymétrie d'information. Nous considérons également le rôle des caractéristiques du pays et des entreprises. Nos résultats montrent que l'asymétrie d'information a diminué après le changement de régime réglementaire de l'UE. Nous démontrons que les pays dont la règlementation antérieure est d'un niveau de qualité élevé avec un système juridique efficient ont connu une réduction d'asymétrie d'information plus importante. Selon les résultats, l'impact des réglementations sur l'asymétrie d'information est plus important pour les entreprises qui avaient un meilleur environnement avant le changement de régime. Le deuxième chapitre étudie l'efficacité de l'utilisation de la juste valeur en comptabilité pour fournir des informations plus pertinentes sur la valeur des banques. Les études pertinence de la valeur ont été menées en quatre étapes. Tout d'abord, nous comparons la pertinence de la valeur des actifs et passifs tels qu'ils sont inscrits dans les bilans. Nous constatons que les actifs et passifs pris à la juste valeur sont plus pertinents pour expliquer la valeur de marché des capitaux propres. En outre, on observe que la crise financière de mi-2008 n'a pas d'impact significatif sur la pertinence des actifs et des passifs pris en FV et, que la qualité de l'audit améliore la pertinence des actifs pris en FV. Dans la deuxième étape, nous nous concentrons sur la mesure de la juste valeur et nous trouvons que les actifs basés sur « marked-to-market » sont plus pertinents que les actifs « marked-to-model » et que la haute qualité de l'audit a un impact positif sur la pertinence des actifs basés sur les niveaux de FV 1 et 2. Dans la troisième étape, nous examinons la pertinence de la valeur incrémentale des justes valeurs, en étudiant la pertinence du contenu de l'information fournie par la différence entre les justes valeurs et les coûts historiques. Pour terminer, nous évaluerons la pertinence des deux modèles que nous proposons en comparant les résultats obtenus au titre de celui de « la juste valeur totale » à ceux obtenus par le modèle « du coût historique ». Dans le troisième chapitre, nous cherchons à savoir dans quelle mesure la juste valeur en comptabilité permet de mesurer l'exposition aux risques prise par les banques. Nous étudions le rôle de la taille des banques et celui de la situation économique du marché financier. Nous démontrons que pour un échantillon global, les ratios d'endettement de coût historique et la GAAP, sont plus liés au risque de la banque que les ratios fondées sur les justes valeurs. Pour les petites banques le ratio de levier financier de la GAAP et du HC expliquent mieux le risque de défaut des banques que le ratio de levier financier de FV, et pour les grandes banques cet ordre s'inverse. Nos résultats fournissent la preuve que, pendant les périodes stables, le ou la GAAP et le ou la HC sont plus pertinentes que le risque par FV. En période de crise cet ordre s'inverse, et les ratios de FV expliquent mieux les attentes du marché concernant le risque de défaut de toutes les banques<br>This dissertation consist three distinct essays that study the effectiveness of financial disclosure regulations. The first essay studies the effectiveness of EU regulatory changes aimed to harmonize and enhance EU financial information environment. Unlike literatures that study the adoption of a single regulation, we consider a set of EU regulations that have common objectives. We find that the adoption of these regulation have decreased information asymmetry in financial markets. We also show that the effectiveness of regulatory changes varies across counties. We find that firms that needed the improvement in financial information environment the most benefited the least from implementation of regulations under study. We argue that EU capital market impacts generally attributed to the adoption of IFRS are likely to come from regulatory changes concomitant to IFRS. We then focus on banks and find that EU regulatory changes had a more significant impact on banks than other firms. The second essay studies the effectiveness of fair value accounting in providing more value-relevant information. The value relevance studies have been conducted in four stages. First, we compare the value relevance of assets and liabilities as they are carried in balance sheets and find that assets and liabilities carried at fair value are more value-relevant than those carried at cost. Furthermore, we illustrate that the 2008 financial crisis had no significant impact on the value relevance of FV assets and liabilities. Also high audit quality improves the value relevance of assets carried at FV. Second, we focus on fair value measurement levels and find marked-to-marked fair values to be more value-relevant than marked-to-model fair value assets and high audit quality has a positive impact on value relevance of assets carries at FV levels 1 and 2. Third, we focus on the incremental value relevance of fair values, where we study the value relevance of fair value information over those conveyed by costs data. Finally, we compare the relative value relevance of a full fair value versus full cost accounting. The third essay looks at the risk relevance of fair value accounting. We compare the accounting-based debt ratio with fair values, cost and US GAAP data for explaining market assessments of bank risk. We find that although in overall US GAAP information and cost accounting are more risk relevant than fair values, relative value-relevance of the ratios depends on bank size and general economic condition. During financial crisis and for large banks fair values are more risk-relevant than HC and GAAP. Overall, this dissertation sheds light on the effectiveness of financial regulations regarding information disclosure and the impact of influential factors with an emphasis on banks
31
Riediger, Monika [Verfasser]. "Corporate Governance and Financial Reporting Quality of German Firms : Three Empirical Studies / Monika Riediger." Berlin : Freie Universität Berlin, 2018. http://d-nb.info/1160235740/34.
Full text
32
Riediger, Monika A. [Verfasser]. "Corporate Governance and Financial Reporting Quality of German Firms : Three Empirical Studies / Monika Riediger." Berlin : Freie Universität Berlin, 2018. http://nbn-resolving.de/urn:nbn:de:kobv:188-fudissthesis000000107256-3.
Full text
33
Das, Sumon. "Quality of corporate financial reporting : a longitudinal study of the listed companies in Bangladesh." Thesis, Durham University, 2015. http://etheses.dur.ac.uk/11172/.
Full textAbstract:
The current study investigates the quality of corporate reporting practices of the listed companies in Bangladesh. It measure quality through the quality of mandatory reporting, the quality of voluntary reporting and the timeliness of reporting by using panel data from 2004 to 2010. The final sample consists of 123 companies with 861 firm year observations listed in the Dhaka Stock Exchange, Bangladesh. In order to measure the mandatory reporting quality the current study determines the extent as well as the determinants of corporate mandatory disclosure in total and its categories. This study uses seven self constructed checklists (items ranging from 148 to 179) to measure the extent of mandatory reporting. The study presents average mandatory reporting at 76.42%. These results also indicate that mandatory reporting has significant positive association with firm size, firm profitability (ROA), and multinational parents, while it has significant negative association with ownerships. However, there is non-significant relationship between mandatory reporting and firm profitability (ROE), audit firm size and industry category. For voluntary reporting both a weighted and unweighted index has been used. A self constructed voluntary reporting checklist consisting of 97 items has been prepared. A questionnaire survey has been conducted to determine the weight. A low level of voluntary reporting has been observed over the seven years, standing at 28.56%.There is a gradual increase in the average score. A significant positive relationship has been observed between voluntary reporting and firm size, firm liquidity, percentage of independent director and board structure, while there is a significant negative association with market categories, company age and number of independent director. However, there is a non significant relationship of voluntary reporting with audit committee, and board size. The study determines the extent of timeliness through calculating audit lag, preliminary lag and total reporting lag. It also examines the determinants of timeliness for all three categories. Empirical finding indicate that the sample companies need about 110 days to complete the audit process whereas average reporting lag is 170 days for the entire period. Finally total reporting lag time has a significant positive association with earning, financial condition, company's age and industry classification, while it has significant negative association with firm size and audit firm size. However, audit opinion type has weak or no association with total reporting lag time.
34
Kwon, Shin Hyoung. "An empirical analysis of the decline of financial reporting quality following M&A." Thesis, Boston University, 2014. https://hdl.handle.net/2144/11110.
Full textAbstract:
Thesis (Ph.D.)--Boston University<br>I examine whether an acquirer's financial reporting quality declines after an M&A, and if so, how it changes over time. If an acquirer's financial information conveys inherent information uncertainty, and/or a manager of the firm is not motivated to do M&A by economic reasons, I predict that investors rationally create a lower price response to financial reporting for the firm, and have difficulty in valuing the firm after an M&A. Specifically, I expect acquirers (1) with higher information uncertainty; foreign targets, private targets, and inter-industry acquirers, and (2) with agency-motivated management to have more severe decline in financial reporting, and thus take longer time to recover over time following M&As. Using a sample of quarterly data of U.S. public acquirers over the period 1991-2010, I find evidence that acquirers experience a decline in financial reporting quality, measured by the earnings response coefficient (ERC), and that their financial reports are less value relevant following M&As. Also, I find that investors keep lower price reactions to financial reporting over time while recovering their valuations two quarters after M&As. With respect to the ERC results, I find that investors show lower price response to acquirers with foreign targets than acquirers with domestic targets. Also, I find that investors think acquirers with private targets experience less of a decline in financial reporting quality than acquirers with public targets.
However, I fail to find that investors show less investor reaction to the quality of financial reporting for inter-industry acquirers later after M&A. With respect to the value relevance results, I find that the results are similar to the ERC results for foreign and private targets, but found that the value relevance of earnings of acquirers with inter-industry targets is lower than that of acquirers with inter-industry targets. For a management motivation for M&A, my ERC results show that it is not clear that there is a quality difference in financial reporting of both agency-motivated and synergy-motivated acquirers. With respect to value relevance, investors think the value relevance of earnings for agency-motivated acquirers is less than that of synergy-motivated acquirers after M&A.
35
Eakpisankit, Araya. "The quality of corporate environmental reporting (CER) : theory and practice." Thesis, University of Bath, 2012. https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.558898.
Full textAbstract:
Due to the fact that corporate environmental reporting (CER) is largely voluntary and unregulated, practice has evolved in the absence of a meaningful conceptual framework. This lack of a normative theory stating what should be the content of CER as well as the methods for measuring reported information being largely volumetric or content based, is advanced as a major limitation in the existing literature. In this study, the wellestablished conceptual frameworks for financial reporting are adapted as the basis for a CER conceptual framework in which four characteristics of CER indicate its quality. Empirical methods for the measurement of such characteristics are also adapted from the financial reporting literature. The main aim of this research is to use the adapted framework to examine the extent of variation in the quality of CER and then to test its applicability to the key motivational theories. The empirical work involves a panel of US and UK firms over a two-year period. This allows cross-sectional comparison to be made between different financial accounting regimes (rules- vs. principles-based) as well as permits examination of the development of CER over time. Further, the empirical work is extended to investigate the interrelationship between the financial and environmental performance of a firm. Evidence in support of the legitimacy and institutional theory explanations for disclosure motivations is comprehensively found through the measures of the qualitative characteristics identified. That is, the use of a novel CER framework based on financial reporting quality here enables a more robust understanding of the reporting behaviours than previous work. Moreover, evidence for CER variation owing to the differences in financial reporting regimes is found and thus, it is reasonable to assert that the culture of financial reporting, to some extent, informs the nature of voluntary non-financial reporting. However, perhaps owing to the short time frame of the investigation, evidence of financial rewards from being environmentally effective or through providing CER is not found. The findings from this research will be of interest to preparers and users of corporate environmental reports as well as to policymakers, particularly in terms of enabling them to assess the quality of reporting and its level of fit with their expectations. Moreover, they also shed light on the link between environmental performance, as manifested in carbon emissions, and what is reported.
36
Dhansay, Asief. "An investigation into the powers of the Auditor-General SA and its ability to strengthen the quality of democracy in South Africa." Master's thesis, Faculty of Commerce, 2019. https://hdl.handle.net/11427/31998.
Full textAbstract:
The overall objective of the study is to provide commentary on the extent to which the public sector audit process contributes to the strength of democracy in South Africa by enhancing accountability. By studying audit outcomes, the concerns of the Auditor-General of South Africa (AGSA) around lack of accountability due to auditee non-responsiveness was confirmed. The amendments to the Public Audit Act which give the AGSA the power to sanction individuals is therefore considered necessary as a mechanism to change the culture of non-responsiveness amongst auditees and to therefore ensure accountability going forward. A comparative evaluation was conducted for the Ugandan public service where the Ugandan Auditor General has similar powers. This case study points to the necessity of supreme audit institutions in developing countries having enhanced powers to ensure accountability and thus enhance the quality of democracy, although there may be a trade off with the other dimensions of democracy, bringing in to question the overall quality of democracy. The study also outlines areas for future considerations which may impact on the strength of public financial accountability.
37
Zheng, Xiaochuan Campbell David Chandar Nandini. "An empirical analysis of the relationship between audit committee multiple directorships and financial reporting quality /." Philadelphia, Pa. : Drexel University, 2008. http://hdl.handle.net/1860/2798.
Full text
38
Hagemann, Gregor [Verfasser]. "Financial Reporting Quality in Emerging Economies : Empirical Evidence from Brazil and South Africa / Gregor Hagemann." Frankfurt a.M. : Peter Lang GmbH, Internationaler Verlag der Wissenschaften, 2016. http://d-nb.info/1123419930/34.
Full text
39
Liou, Yu-Ci, and 劉禹琦. "Internal Control over Financial Reporting and Financial Reporting Quality." Thesis, 2008. http://ndltd.ncl.edu.tw/handle/44450173303548705325.
Full textAbstract:
碩士<br>中原大學<br>會計研究所<br>96<br>This paper, based on 3664 observations with internal control deficiencies reported from 1988 to 2006, investigates the relation between financial reporting quality and internal control over financial reporting. My research employs quality of accrual to measure reliability of financial reporting and find that, firstly, firms with internal control deficiencies reported get lower quality of accrual in terms of discretionary accruals and accruals noise than those without internal control deficiencies reported. Secondly, firms with internal control deficiencies reported are usually with higher persistence of transitory loss components in earnings as well, and, therefore, has lower earnings conservatism; however, my research doesn’t show that firms with internal control reported deficiencies have lower earnings value relevance. Thirdly, the effect of internal control deficiencies on financial reporting quality is mainly from that of transaction cycles. Finally, governance mechanism of internal control either from board of director or accounting firm can’t change the impact of internal control deficiencies on all financial reporting quality while accounting firm can improve the relation between earnings value relevance and internal control over financial reporting. Collectively, the results are supported by cross- sectional regression of Fama MacBeth.
40
Chen, Tzu-Yi, and 陳姿儀. "CEO Tenure and Financial Reporting Quality." Thesis, 2014. http://ndltd.ncl.edu.tw/handle/zea59j.
Full textAbstract:
碩士<br>國立東華大學<br>會計與財務碩士學位學程<br>102<br>Financial reporting credibility is important because decision-useful information is well appreciated by all market participants. This paper explores if CEO tenure matters to corporate financial reporting quality by examining their connections.
Using Taiwanese listed firms as samples from 2006-2011, empirical results indicate that long tenure CEOs are associated with better financial reporting quality than short tenure CEOs, supporting our hypothesis. This paper also finds, long tenure CEOs from family firms report higher quality financial statements. Lastly, we explore the effect of managerial hegemony, as proxied by CEO duality, on financial reporting quality. We find that firms helmed with long-tenure dual status CEOs report lower discretionary accruals and higher accrual quality, implying higher financial reporting quality. Overall, empirical results indicate CEO long tenure is good as far as financial reporting is concerned.
41
LU, CHUN-YU, and 盧均育. "Financial Reporting Quality and Stock Liquidity." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/nvusdp.
Full textAbstract:
碩士<br>國立中正大學<br>財務金融系研究所<br>105<br>This essay investigates whether better financial information transparency as measured by the quality of a firm’sfinancial reporting numbers is related to its stock liquidity. Using a sample of firms publicly listed on TWSE and TPEx during 2005-2014, we find that Amihud’s illiquidity measure tends to be higher and stock turnover rate tends to be lower for firms with lower financial reporting quality (FRQ). However, the relation between FRQ and bid-ask spread is sensitive to our FRQ measures. Further subsample analyses show that the relation between FRQ and stock liquidity is pronounced in nonfamily-controlled companies, but not so in family-controlled firms The finding seems to imply that investors in Taiwan evaluate family-controlled firms’ information transparency with a different measure other than their financial reporting numbers. Finally, we also examine the effect of high institutional ownership on the relation between FRQ and stock liquidity, but the result is unclear. Future research may explore whether there is any alternative proxy that can better capture outside investors’ perspective on the information quality of family-controlled firms in Taiwan. Another interesting issue for future analysis is to investigate whether and how different types of institutional investors affect a firm’s stock liquidity.
42
TSAI, MING-CHUN, and 蔡明君. "Supervisor Characteristics and Financial Reporting Quality." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/ujsj43.
Full textAbstract:
碩士<br>國立高雄應用科技大學<br>會計系<br>105<br>In order to strengthen corporate governance, Taiwan amended Securities and Exchange Act to introduce independent directors and audit committee system in 2006, and gradually expands the mandatory establishment of the audit committee to replace the supervisor system. By 2015, however, the number of listed companies has set up audit committee accounted for only 33% of total, indicating that the supervisors are still prevalent in the corporate governance mechanism in Taiwan, so the authorities still have the necessity to regulate the supervisor system. In this study, the real earnings management was used as the proxy of the financial reporting quality, to measure the effectiveness of supervisors. Listed companies in Taiwan from 2007~2015 are used as the sample. This study first examines the relationship between supervisor and financial reporting quality, then investigates the moderating effects of education, gender and professional background. The empirical results show that supervisor has no significant impact on financial reporting quality, but higher education degree, at least one member is female or have professional background of supervisor can significantly inhibit the company's real earnings management behavior, and further enhance financial reporting quality. Therefore, this study recommends that the authority should regulate the qualifications of the supervisor in order to improve the supervisory function.
43
Lin, Chi-Hau, and 林志豪. "Audit Committee and Financial Reporting Quality." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/30865113674217508003.
Full textAbstract:
碩士<br>輔仁大學<br>金融與國際企業學系金融碩士班<br>101<br>As corporate governance internationally gradually attention, our government also response to the trend to strengthen corporate governance mechanism, introduced independent directors and audit committee system. Financial Supervisory Commission announced in this year, will be forced to adopt audit committee, so this study is to investigate the effect of the current voluntary adoption of the Audit Committee. This is might provide policy-makers of the current status and possible future development of audit committee.
In this study, we used exchange listed companies from 2007 to 2012 except financial industry. There are on three topics in this study. First, we want to know who the companies adopt audit committee. Second, whether the investors response to investors on the adoption of audit committee. Third, after the adoption of audit committee, does the audit committee have real effect on reporting quality?
In the first topic, due to the majority ownership concentration in Taiwan market and the presence of controlling shareholders, we used the controlling shareholder of the incentive effects and encroachment (La Porta et al., 2002) to understand the shareholder structure of the companies who adopt audit committee. The empirical results support the alternative hypothesis, and it is mean that the companies who adopt audit committee have lower cash flow rights and larger deviation between cash flow rights and voting right. We could suggest the company will improve corporate governance mechanisms by an audit committee.
The paper also found that investors held in a positive attitude for the event of adoption of audit committee, and the cumulative abnormal returns increase as the, the proportion of the audit committee with financial or accounting expertise. There also have a positive impact on audit committee financial statements, some result showed that an audit committee be able to reduce the magnitude of earnings management.
44
Hsiao, Sheng-Rung, and 蕭聖融. "CEO Overconfidence and Financial Reporting Quality." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/x27nwt.
Full textAbstract:
碩士<br>輔仁大學<br>金融與國際企業學系金融碩士班<br>106<br>This paper explores the effects of CEO overconfidence on financial reporting quality by U.S. stock markets data from 2000 to 2014. The empirical results show that, ceteris paribus, the behavior of low overconfidence managers has significant and positive influences on financial report readability. The behavior of high overconfidence managers has insignificant influences on financial report readability. The reason is that if managers are low-overconfident, they will decrease investment behavior to make financial report more readable. In addition, this study also found that if the risk (scale, number of years of company establishment) of company is high, it will enhance (weaken) the positive influence of low-overconfidence managers on the readability of financial statements.
45
Liu, Mingzhi. "Financial Reporting Quality and Corporate Bond Markets." Thesis, 2011. http://spectrum.library.concordia.ca/7185/1/Liu_PhD_S2011.pdf.
Full textAbstract:
Recent research proposes that financial reporting is actually shaped by debt markets instead of by equity markets. As noted by Baker, Greenwood and Wurgler (2003), “Relative to the literature on equity financing patterns, and relative to the actual importance of debt finance in the U.S. economy, the literature on debt financing patterns is surprisingly underdeveloped”. Hence, the interface between financial reporting and debt financing has recently emerged as a fruitful idea for research. In fact, because of their asymmetric payoff function and fixed claims on corporate assets, creditors have stronger incentives than equity investors to demand high quality financial reporting.
In this dissertation, I build up alternative arguments for conservatism that can be applied to the public bond market and cannot be generalized to the private debt market or the equity market. For instance, Merton’s (1974) theoretical bond pricing model indicates that equity holders and bondholders value a firm’s operating volatility in different ways. Thus, bond and equity investors could have different expectations and needs regarding what they consider to be useful financial reporting. In that regard, recent evidence on the interface between financial reporting quality and debt markets largely focuses on private bank loan contracting. However, in terms of providing capital to corporations, public debt markets are as large as private debt markets, with substantial differences in terms of monitoring efficiency, private information availability, seniority in liquidation, and re-contracting flexibility. Hence, public bondholders can value financial reporting quality in a way that differs from private debt holders’ perspective.
Using accounting conservatism and internal control effectiveness as proxies for financial reporting quality, I investigate two sets of research questions that relate to the effects of financial reporting quality on corporate bond financing. I consider both conditional and unconditional conservatism. Conditional conservatism depends upon future economic circumstances and reflects the writing down of book values under sufficiently adverse circumstances while not allowing their writing up under favorable circumstances (e.g., lower of cost or market for inventories). Unconditional conservatism reflects the consistent application of Generally Accepted Accounting Principles (GAAP) that reduces earnings independent of future economic events, resulting in the book value of net assets being understated due to predetermined aspects of the accounting process (e.g., immediate expensing of R&D expenditures according to U.S. GAAP). First, I investigate the main effect of accounting conservatism and the moderating effect of internal control effectiveness on the yield spread of new corporate bond issues. Second, I assess the main effect of accounting conservatism and internal control effectiveness on the underpricing of newly issued corporate bonds. Both yield spreads and underpricing reflect different market realities. While the yield spread of new corporate bond issues is determined through negotiations among bond issuers, investment bankers and large institutional investors the underpricing of newly issued corporate bonds reflects the responses of all bond investors based on their assessment of the available information.
My main empirical findings are: (1) conditional conservative reporting relates to higher yield spreads in new corporate bond issues; (2) unconditional conservative reporting relates to lower yield spreads in new corporate bond issues; (3) ineffective internal controls enhance the effect of conditional conservative reporting to raise the yield spread; (4) both conditional and unconditional conservative reporting relate to the underpricing of newly issued corporate bonds. However, internal control effectiveness does not seem to matter in the underpricing.
This dissertation mainly contributes to the existing literature in two ways. First, this study extends the conservatism literature by linking conservative reporting to corporate bond financing patterns. With theoretical arguments and empirical evidence that are inconsistent with the debt contracting efficiency view of conservatism, my study casts some doubt as to how generalizable is the traditional debt contracting efficiency argument regarding the interface between conservatism and the cost of debt. Second, research on Sarbanes-Oxley Act’s internal control provisions needs to go beyond the equity holders’ and private debt holders’ perspectives, and consider other financial stakeholders who contract on the basis of financial statements. This dissertation fills the void in the internal control literature by providing initial empirical evidence as to how internal control effectiveness affects corporate bond financing.
46
Chang, Hanyun, and 張菡紜. "Accounting Standards Codification and Financial Reporting Quality." Thesis, 2012. http://ndltd.ncl.edu.tw/handle/06604993282185895565.
Full textAbstract:
碩士<br>國立中正大學<br>會計與資訊科技研究所<br>100<br>This paper compares accounting quality metrics for a sample of U.S. public firms in the regimes before and after the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards No. 168, “The FASB Accounting Standards CodificationTM and the Hierarchy of Generally Accepted Accounting Principles – a replacement of FASB Statement No. 162 (Codification). The empirical results document that U.S. firms exhibit more income smoothing, more managing of earnings toward a target, and less timely recognition of losses in the post-codification period than in the pre-codification regime. However, the results indicate that U.S. firms exhibit a higher association of accounting amounts with share prices and returns in the post-codification period than in the pre-codification period. In addition, we find that U.S firms exhibit significantly lower abnormal audit fees in the post-codification period for observations with positive abnormal audit fees. Given that prior studies (e.g., Choi, et al., 2010; Dye, 1991) reveal that audit quality is impaired when auditors are overpaid, the finding seems to suggest that U.S. firms evidence an improvement in audit quality between the pre- and post-codification periods. Taken together, the combined results suggest that the Codification represents a simplification of the enormous body of accounting standards and may, therefore, improve the level of compliance, although the new pronouncement does not effectively reduce earnings management. On the other hand, the Codification renders U.S. GAAP more understandable and accessible for the users. Accordingly, accounting amounts of firms in the post-codification period exhibit higher value relevance and higher audit quality than those in the pre-codification regime. This comparison provides direct evidence that investors and auditors believe that accounting quality for U.S. firms improves between the pre- and post-codification periods.
47
Ai-LingHong and 洪愛苓. "Audit Committee Diversity and Financial Reporting Quality." Thesis, 2012. http://ndltd.ncl.edu.tw/handle/44463338081108449720.
Full textAbstract:
碩士<br>國立成功大學<br>會計學系碩博士班<br>100<br>The purpose of this study is to investigate the association between audit committee diversity and financial reporting quality. Audit committee diversity is defined as to include diverse gender, education degree, nationality and expertise. Listed publicly companies in Taiwan with audit committee from 2006 to 2010 are used as a sample to test the hypotheses by regression analysis in the research. The results suggest：(1) the firm with female audit committee member is more likely to reduce financial reporting quality, but not significant, (2) the education degree of audit committee financial or accounting expertise is positively associated with financial reporting quality, (3) the firm with foreign audit committee member is more likely to reduce financial reporting quality, and (4) audit committee with legal expertise can help enhance reporting quality.
48
Lu, Wen-Sheng, and 呂文生. "Audit Committee Characteristics and Financial Reporting Quality." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/832y7b.
Full textAbstract:
碩士<br>國立臺中科技大學<br>會計資訊系碩士班<br>104<br>The purpose of the study is to examine the effect of audit committee characteristics on financial reporting quality proxied by the magnitude of discretionary accruals. The results, based on a sample of companies listed on the Taiwan Stock Exchange Corporation and the GreTai Securities Market over the period 2008-2014, as expected, show that both the audit committee having at least one expert and the proportion of the number of audit committee members concurrently serve as an independent director of other public companies to the number of audit committee members are positively correlated to financial reporting quality. However, audit committee meeting frequency is insignificantly correlated to financial reporting quality.
49
Nell, Tobias. "Financial Notes Reporting Quality: A Conceptualization and Empirical Analysis of Financial Reporting Quality Using the Example of Notes Reporting on Intangible Assets under IFRS." 2018. https://tubaf.qucosa.de/id/qucosa%3A36903.
Full textAbstract:
For many years, international financial reporting – and in particular the notes reporting – has been criticized in practice and academia for failing to provide information that is appropriate for its intended users. This criticism points to deficits with regard to the content and presentation and, thus, to the overall quality of the notes reporting. However, this criticism is predominantly anecdotal in nature as there is, as yet, scarcely any valid scientific evidence that supports these claims. This work addresses this research gap by elaborating what (notes) reporting quality is, what dimensions it consists of (conceptualization), how these dimensions can be measured (operationalization) and how they are empirically manifested (empirical evidence). For the latent construct of (notes) reporting quality, a formative measuring instrument to be used in an integrative content analysis is developed with which both dimensions of (notes) reporting quality – a content dimension (e.g., relevance) and a formal dimension (e.g., diction/readability) – can be measured and analyzed. This measuring instrument is validated both theoretically (argumentative reflection) and empirically (testing of hypotheses derivable from the underlying theories). The subsequent analysis of the notes
reporting quality of a representative sample of German firms reveals that the above-mentioned criticism is well founded. Furthermore, the results point out both what specific deficits exist and where. The results of this work – the conceptualization, the operationalization and the empirical evidence – together form a starting point for developing, in the context of the (notes) reporting and its quality, valid insights/knowledge in research, ‘best practice’ solutions in practice and conceptually sound and target-oriented solutions in regulation.
50
Chiu, Sheng-Yuan, and 瞿生元. "CFO as Inside Directors and Financial Reporting Quality." Thesis, 2015. http://ndltd.ncl.edu.tw/handle/78988524979191258163.
Full textAbstract:
碩士<br>國立東華大學<br>會計與財務碩士學位學程<br>103<br>Financial reporting credibility is important because decision-useful information is well appreciated by all market participants. This paper examines how financial reporting quality is affected by board membership of the CFO. Using Taiwanese listed firms as samples from 2009-2012, empirical results indicate that director/CFO is associated with higher quality financial reporting, supporting social network argument.
This paper also finds that firms with high deviation of control rights and cash flow rights are more inclined to invite CFO to seat in their board. In these instances, director/CFOs could better perform their duties in preparing higher quality financial reports.