Effect of business strategy on Accrual-based earnings management
Keywords:
Business Strategy. Prospector Strategy. Results Management by accruals.
Abstract
Objective: To analyze the effect of the prospector strategy on earnings management by accruals (EM).
Method: Multiple linear regression (Ordinary Least Squares). The data refer to the period from 2014 to 2019. The sample comprised 148 Brazilian companies.
Originality/Relevance: The research explores the implications of the effect of the company's business strategy on accounting reporting policies, demonstrating that managerial characteristics of companies, market incentives and managerial opportunism, may be related (positively or negatively) to opportunistic practices of managers.
Results: The results suggest that companies with prospector characteristics present less EM practice. However, by including incentives to EM in the analysis, it was found that more leveraged prospector companies tend to have lower levels of discretionary accruals.
Contribution: As contributions to the study, the interaction between an aspect of management accounting (type of business strategy) and financial accounting (EM practice) is highlighted, something
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References
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Agustia, D., Muhammad, N. P. A., & Permatasari, Y. (2020). Earnings management, business strategy, and bankruptcy risk: evidence from Indonesia. Heliyon, 6(2), e03317. https://doi.org/10.1016/j.heliyon.2020.e03317
Bartov, E. (1993). The timing of asset sales and earnings manipulation. The Accounting Review, 840-855.
Bentley-Goode, K. A., Newton, N. J., & Thompson, A. M. (2017). Business strategy, internal control over financial reporting, and audit reporting quality. Auditing: A Journal of Practice & Theory, 36(4), 49-69. https://doi.org/10.2308/ajpt-51693
Bentley, K. A., Omer, T. C., & Sharp, N. Y. (2013). Business strategy, financial reporting irregularities, and audit effort. Contemporary Accounting Research, 30(2), 780-817. https://doi.org/10.1111/j.1911-3846.2012.01174.x
Bentley, K. A., Omer, T. C., & Twedt, B. (2014). Does business strategy impact a firm’s information environment. Journal of Accounting, Auditing & Finance. https://doi.org/10.1177/0148558X17726893
Brooks, C. (2014). Introductory econometrics for finance, 3 rd edition. New York: Cambridge University Press.
Bryan, D., Fernando, G. D., & Tripathy, A. (2013). Bankruptcy risk, productivity and firm strategy. Review of Accounting and Finance, 12(4), 309–326. https://doi.org/10.1108/RAF-06-2012-0052
Burgstahler, D. C., Hail, L., & Leuz, C. (2006). The importance of reporting incentives: earnings management in European private and public firms. The accounting review, 81(5), 983-1016. https://doi.org/10.2308/accr.2006.81.5.983
Bushee, B. J., Goodman, T. H., & Sunder, S. V. (2019). Financial reporting quality, investment horizon, and institutional investor trading strategies. The Accounting Review, 94(3), 87-112. https://doi.org/10.2308/accr-52202
Chen, G. Z., & Keung, E. C. (2019). The impact of business strategy on insider trading profitability. Pacific-Basin Finance Journal, 55, 270-282. https://doi.org/10.1016/j.pacfin.2019.04.007
Choi, J. H., Kim, J. B., Liu, X., & Simunic, D. A. (2009). Cross-listing audit fee premiums: Theory and evidence. The Accounting Review, 84(5), 1429-1463. https://doi.org/10.2308/accr.2009.84.5.1429
Cohen, D. A., Dey, A., & Lys, T. Z. (2008). Real and accrual‐based earnings management in the pre‐and post‐Sarbanes‐Oxley periods. The Accounting Review, 83(3), 757-787. https://doi.org/10.2308/accr.2008.83.3.757
Danjour, M. F., Medeiros, B. C., Añez, M. E. M., & de Araújo, A. G. (2016). Mensuração do Comportamento estratégico a partir da cultura organizacional: um estudo em Lojas de shopping centers. Revista Ibero-Americana de Estratégia (RIAE), 15(4), 12-27. DOI: 10.5585/riae.v15i4.2347
Dechow, P. M., Ge, W., & Schrand, C. (2010). Understanding earnings quality: a review of the proxies, their determinants and their consequences. Journal of Accounting and Economics, 50(2-3), 344-401. https://doi.org/10.1016/j.jacceco.2010.09.001
Dechow, P. M., & Skinner, D. J. (2000). Earnings management: reconciling the views of accounting academics, practitioners, and regulators. Accounting Horizons, 14(2), 235-250. https://doi.org/10.2308/acch.2000.14.2.235
Dechow, P. M., Sloan, R. G., & Sweeney, A. P. (1995). Detecting earnings management. Accounting Review, 70(2), 193-225.
DeSarbo, W. S., Di Benedetto, C. A., Song, M., & Sinha, I. (2005). Revisiting the Miles and Snow strategic framework: uncovering interrelationships between strategic types, capabilities, environmental uncertainty, and firm performance. Strategic Management Journal, 26(1), 47-74. https://doi.org/10.1002/smj.431
Domingues, J. C. A., & Nakao, S. H. (2017). Previsão dos analistas e adoção dos padrões IFRS em petrolíferas mundiais. Revista Universo Contábil, 13(2), 6-24. Doi:10.4270/ruc.2017206
Doukakis, L. C. (2014). The effect of mandatory IFRS adoption on real and accrual-based earnings management activities. Journal of Accounting and Public Policy, 33(6), 551-572. https://doi.org/10.1016/j.jaccpubpol.2014.08.006
Easley, D., & O'hara, M. (2004). Information and the cost of capital. The journal of finance, 59(4), 1553-1583. https://doi.org/10.1111/j.1540-6261.2004.00672.x
Frankel, R., McNichols, M., & Wilson, G. P. (1995). Discretionary disclosure and external financing. Accounting Review, 1, 135-150.
Graham, J. R., Harvey, C. R., & Rajgopal, S. (2005). The economic implications of corporate financial reporting. Journal of accounting and economics, 40(1-3), 3-73. https://doi.org/10.1016/j.jacceco.2005.01.002
Gul, F.A., Fung, S.Y.K., Jaggi, B. (2009), Earnings quality: Some evidence on the role of auditor tenure and auditors’ industry expertise. Journal of Accounting and Economics, 47(3), 265-287. https://doi.org/10.1016/j.jacceco.2009.03.001
Habib, A., & Hasan, M. M. (2017). Business strategy, overvalued equities, and stock price crash risk. Research in International Business and Finance, 39, 389-405. https://doi.org/10.1016/j.ribaf.2016.09.011
Hambrick, D. C. (1983). High profit strategies in mature capital goods industries: a contingency approach. Academy of Management journal, 26(4), 687-707. https://doi.org/10.5465/255916
Hand, J. (2001). The economic versus accounting impacts of R&D on U.S. market-to-book ratios. Working Paper, University of NorthCarolina, Chapel Hill.
Healy, P. M., & Wahlen, J. M. (1999). A review of the earnings management literature and its implications for standard setting. Accounting horizons, 13(4), 365-383. https://doi.org/10.2308/acch.1999.13.4.365
Houqe, M. N., Kerr, R., & Monem, R. (2015). Business strategy, economic growth, and earnings quality. Social Science Research Network.
Hribar, P., & Collins, D. W. (2002). Errors in estimating accruals: implications for empirical research. Journal of Accounting research, 40(1), 105-134. https://doi.org/10.1111/1475-679X.00041
Hribar, P., Jenkins, N. T., & Johnson, W. B. (2006). Stock repurchases as an earnings management device. Journal of Accounting and Economics, 41(1-2), 3-27. https://doi.org/10.1016/j.jacceco.2005.10.002
Hsieh, C. C., Ma, Z., & Novoselov, K. E. (2019). Accounting conservatism, business strategy, and ambiguity. Accounting, Organizations and Society, 74, 41-55. https://doi.org/10.1016/j.aos.2018.08.001
Ittner, C. D., Larcker, D. F., & Rajan, M. V. (1997). The choice of performance measures in annual bonus contracts. Accounting Review, 72(2), 231-255.
Jones, J. J. (1991). Earnings management during import relief investigations. Journal of Accounting Research, 29(2), 193-228.
Kama, I., & Melumad, N. (2020). Camouflaged indicators of earnings management. European Accounting Review, 29(2), 361-382. https://doi.org/10.1080/09638180.2019.1595693
Khanh, H. T. M., & Nguyen, V. K. (2018). Audit quality, firm characteristics and real earnings management: The case of listed vietnamese firms. International Journal of Economics and Financial Issues, 8(4), 243.
Kim, O., & Verrecchia, R. E. (1994). Market liquidity and volume around earnings announcements. Journal of accounting and economics, 17(1-2), 41-67. https://doi.org/10.1016/0165-4101(94)90004-3
Kothari, S. P., Leone, A. J., & Wasley, C. E. (2005). Performance matched discretionary accrual measures. Journal of accounting and economics, 39(1), 163-197. https://doi.org/10.1016/j.jacceco.2004.11.002
Kwag, S. W., & Stephens, A. A. (2009). Investor reaction to earnings management. Managerial Finance, 36(1), 44–56.
LaBelle, R. (1990). Bond covenants and changes in accounting policy: Canadian evidence. Contemporary Accounting Research, 6(2), 677-698. https://doi.org/10.1111/j.1911-3846.1990.tb00781.x
Lang, M. H., & Lundholm, R. J. (2000). Voluntary disclosure and equity offerings: reducing information asymmetry or hyping the stock?. Contemporary accounting research, 17(4), 623-662. https://doi.org/10.1506/9N45-F0JX-AXVW-LBWJ
Lim, E. K., Chalmers, K., & Hanlon, D. (2018). The influence of business strategy on annual report readability. Journal of Accounting and Public Policy, 37(1), 65-81. https://doi.org/10.1016/j.jaccpubpol.2018.01.003
Martinez, A. L., & Ferreira, B. A. (2019). Business strategy and tax aggressiveness in Brazil. Journal of Strategy and Management, 12(4), 7-17. https://doi.org/10.1108/JSMA-03-2019-0040
Martins, V. G., Paulo, E., & Monte, P. A. (2016). O gerenciamento de resultados contábeis exerce influência na acurácia da previsão de analistas no Brasil?. Revista Universo Contábil, 12(3), 73-90.
Miles, R. E., & Snow, C. C (1978). Organizational strategy, structure and process. New York, McGrawHill. https://doi.org/10.5465/amr.1978.4305755
Miles, R. E., & Snow, C. C. (2007). Organization theory and supply chain management: an evolving research perspective. Journal of operations management, 25(2), 459-463.
Mota, R. H. G., da Cunha, A. C., de Oliveira, A. F., & Paulo, E. (2017). Previsão de lucro e gerenciamento de resultados: evidências empíricas no mercado acionário brasileiro. Revista Universo Contábil, 13(1), 06-26. Doi:10.4270/ruc.2017101
Murcia, F. D. R., & Wuerges, A. (2011). Escolhas contábeis no mercado brasileiro: divulgação voluntária de informações versus gerenciamento de resultados. Revista Universo Contábil, 7(2), 28-44. Doi:10.4270/ruc.2011211
Naiker, V., Navissi, F., & Sridharan, V. G. (2008). The agency cost effects of unionization on firm value. Journal of Management Accounting Research, 20(1), 133-152. https://doi.org/10.2308/jmar.2008.20.1.133
Nissim, D., & Penman, S. H. (2001). Ratio analysis and equity valuation: From research to practice. Review of accounting studies, 6(1), 109-154.
Osma, B. G., & Young, S. (2009). R&D expenditure and earnings targets. European Accounting Review, 18(1), 7-32. https://doi.org/10.1080/09638180802016718
Palmrose, Z. V., & Scholz, S. (2004). The circumstances and legal consequences of non‐GAAP reporting: Evidence from restatements. Contemporary Accounting Research, 21(1), 139-180. https://doi.org/10.1506/WBF9-Y69X-L4DX-JMV1
Penman, S. H., & Zhang, X. J. (2002). Accounting conservatism, the quality of earnings, and stock returns. The accounting review, 77(2), 237-264. https://doi.org/10.2308/accr.2002.77.2.237
Quinn, R. E., & Cameron, K. (1983). Organizational life cycles and shifting criteria of effectiveness: Some preliminary evidence. Management science, 29(1), 33-51. https://doi.org/10.1287/mnsc.29.1.33
Theodossiou, P., Kahya, E., Saidi, R., & Philippatos, G. (1996). Financial distress and corporate acquisitions: further empirical evidence. Journal of Business Finance & Accounting, 23(5‐6), 699-719.
Simons, R. (1987). Accounting control systems and business strategy: an empirical analysis. Accounting, organizations and society, 12(4), 357-374. https://doi.org/10.1016/0361-3682(87)90024-9
Soderstrom, N. S., & Sun, K. J. (2007). IFRS adoption and accounting quality: a review. European accounting review, 16(4), 675-702. https://doi.org/10.1080/09638180701706732
Stolowy, H., & Breton, G. (2004). Accounts manipulation: a literature review and proposed conceptual framework. Review of Accounting and Finance. https://doi.org/10.1108/eb043395
Yoon, S. (2007). Accounting quality and international accounting convergence. Dissertation (Doctor of Philosophy) - Oklahoma State University, Oklahoma.
Watts, R. & Zimmerman, J. (1986). Positive Accounting Theory, Prentice-Hall, Englewood Cliffs, NJ.
Agustia, D., Muhammad, N. P. A., & Permatasari, Y. (2020). Earnings management, business strategy, and bankruptcy risk: evidence from Indonesia. Heliyon, 6(2), e03317. https://doi.org/10.1016/j.heliyon.2020.e03317
Bartov, E. (1993). The timing of asset sales and earnings manipulation. The Accounting Review, 840-855.
Bentley-Goode, K. A., Newton, N. J., & Thompson, A. M. (2017). Business strategy, internal control over financial reporting, and audit reporting quality. Auditing: A Journal of Practice & Theory, 36(4), 49-69. https://doi.org/10.2308/ajpt-51693
Bentley, K. A., Omer, T. C., & Sharp, N. Y. (2013). Business strategy, financial reporting irregularities, and audit effort. Contemporary Accounting Research, 30(2), 780-817. https://doi.org/10.1111/j.1911-3846.2012.01174.x
Bentley, K. A., Omer, T. C., & Twedt, B. (2014). Does business strategy impact a firm’s information environment. Journal of Accounting, Auditing & Finance. https://doi.org/10.1177/0148558X17726893
Brooks, C. (2014). Introductory econometrics for finance, 3 rd edition. New York: Cambridge University Press.
Bryan, D., Fernando, G. D., & Tripathy, A. (2013). Bankruptcy risk, productivity and firm strategy. Review of Accounting and Finance, 12(4), 309–326. https://doi.org/10.1108/RAF-06-2012-0052
Burgstahler, D. C., Hail, L., & Leuz, C. (2006). The importance of reporting incentives: earnings management in European private and public firms. The accounting review, 81(5), 983-1016. https://doi.org/10.2308/accr.2006.81.5.983
Bushee, B. J., Goodman, T. H., & Sunder, S. V. (2019). Financial reporting quality, investment horizon, and institutional investor trading strategies. The Accounting Review, 94(3), 87-112. https://doi.org/10.2308/accr-52202
Chen, G. Z., & Keung, E. C. (2019). The impact of business strategy on insider trading profitability. Pacific-Basin Finance Journal, 55, 270-282. https://doi.org/10.1016/j.pacfin.2019.04.007
Choi, J. H., Kim, J. B., Liu, X., & Simunic, D. A. (2009). Cross-listing audit fee premiums: Theory and evidence. The Accounting Review, 84(5), 1429-1463. https://doi.org/10.2308/accr.2009.84.5.1429
Cohen, D. A., Dey, A., & Lys, T. Z. (2008). Real and accrual‐based earnings management in the pre‐and post‐Sarbanes‐Oxley periods. The Accounting Review, 83(3), 757-787. https://doi.org/10.2308/accr.2008.83.3.757
Danjour, M. F., Medeiros, B. C., Añez, M. E. M., & de Araújo, A. G. (2016). Mensuração do Comportamento estratégico a partir da cultura organizacional: um estudo em Lojas de shopping centers. Revista Ibero-Americana de Estratégia (RIAE), 15(4), 12-27. DOI: 10.5585/riae.v15i4.2347
Dechow, P. M., Ge, W., & Schrand, C. (2010). Understanding earnings quality: a review of the proxies, their determinants and their consequences. Journal of Accounting and Economics, 50(2-3), 344-401. https://doi.org/10.1016/j.jacceco.2010.09.001
Dechow, P. M., & Skinner, D. J. (2000). Earnings management: reconciling the views of accounting academics, practitioners, and regulators. Accounting Horizons, 14(2), 235-250. https://doi.org/10.2308/acch.2000.14.2.235
Dechow, P. M., Sloan, R. G., & Sweeney, A. P. (1995). Detecting earnings management. Accounting Review, 70(2), 193-225.
DeSarbo, W. S., Di Benedetto, C. A., Song, M., & Sinha, I. (2005). Revisiting the Miles and Snow strategic framework: uncovering interrelationships between strategic types, capabilities, environmental uncertainty, and firm performance. Strategic Management Journal, 26(1), 47-74. https://doi.org/10.1002/smj.431
Domingues, J. C. A., & Nakao, S. H. (2017). Previsão dos analistas e adoção dos padrões IFRS em petrolíferas mundiais. Revista Universo Contábil, 13(2), 6-24. Doi:10.4270/ruc.2017206
Doukakis, L. C. (2014). The effect of mandatory IFRS adoption on real and accrual-based earnings management activities. Journal of Accounting and Public Policy, 33(6), 551-572. https://doi.org/10.1016/j.jaccpubpol.2014.08.006
Easley, D., & O'hara, M. (2004). Information and the cost of capital. The journal of finance, 59(4), 1553-1583. https://doi.org/10.1111/j.1540-6261.2004.00672.x
Frankel, R., McNichols, M., & Wilson, G. P. (1995). Discretionary disclosure and external financing. Accounting Review, 1, 135-150.
Graham, J. R., Harvey, C. R., & Rajgopal, S. (2005). The economic implications of corporate financial reporting. Journal of accounting and economics, 40(1-3), 3-73. https://doi.org/10.1016/j.jacceco.2005.01.002
Gul, F.A., Fung, S.Y.K., Jaggi, B. (2009), Earnings quality: Some evidence on the role of auditor tenure and auditors’ industry expertise. Journal of Accounting and Economics, 47(3), 265-287. https://doi.org/10.1016/j.jacceco.2009.03.001
Habib, A., & Hasan, M. M. (2017). Business strategy, overvalued equities, and stock price crash risk. Research in International Business and Finance, 39, 389-405. https://doi.org/10.1016/j.ribaf.2016.09.011
Hambrick, D. C. (1983). High profit strategies in mature capital goods industries: a contingency approach. Academy of Management journal, 26(4), 687-707. https://doi.org/10.5465/255916
Hand, J. (2001). The economic versus accounting impacts of R&D on U.S. market-to-book ratios. Working Paper, University of NorthCarolina, Chapel Hill.
Healy, P. M., & Wahlen, J. M. (1999). A review of the earnings management literature and its implications for standard setting. Accounting horizons, 13(4), 365-383. https://doi.org/10.2308/acch.1999.13.4.365
Houqe, M. N., Kerr, R., & Monem, R. (2015). Business strategy, economic growth, and earnings quality. Social Science Research Network.
Hribar, P., & Collins, D. W. (2002). Errors in estimating accruals: implications for empirical research. Journal of Accounting research, 40(1), 105-134. https://doi.org/10.1111/1475-679X.00041
Hribar, P., Jenkins, N. T., & Johnson, W. B. (2006). Stock repurchases as an earnings management device. Journal of Accounting and Economics, 41(1-2), 3-27. https://doi.org/10.1016/j.jacceco.2005.10.002
Hsieh, C. C., Ma, Z., & Novoselov, K. E. (2019). Accounting conservatism, business strategy, and ambiguity. Accounting, Organizations and Society, 74, 41-55. https://doi.org/10.1016/j.aos.2018.08.001
Ittner, C. D., Larcker, D. F., & Rajan, M. V. (1997). The choice of performance measures in annual bonus contracts. Accounting Review, 72(2), 231-255.
Jones, J. J. (1991). Earnings management during import relief investigations. Journal of Accounting Research, 29(2), 193-228.
Kama, I., & Melumad, N. (2020). Camouflaged indicators of earnings management. European Accounting Review, 29(2), 361-382. https://doi.org/10.1080/09638180.2019.1595693
Khanh, H. T. M., & Nguyen, V. K. (2018). Audit quality, firm characteristics and real earnings management: The case of listed vietnamese firms. International Journal of Economics and Financial Issues, 8(4), 243.
Kim, O., & Verrecchia, R. E. (1994). Market liquidity and volume around earnings announcements. Journal of accounting and economics, 17(1-2), 41-67. https://doi.org/10.1016/0165-4101(94)90004-3
Kothari, S. P., Leone, A. J., & Wasley, C. E. (2005). Performance matched discretionary accrual measures. Journal of accounting and economics, 39(1), 163-197. https://doi.org/10.1016/j.jacceco.2004.11.002
Kwag, S. W., & Stephens, A. A. (2009). Investor reaction to earnings management. Managerial Finance, 36(1), 44–56.
LaBelle, R. (1990). Bond covenants and changes in accounting policy: Canadian evidence. Contemporary Accounting Research, 6(2), 677-698. https://doi.org/10.1111/j.1911-3846.1990.tb00781.x
Lang, M. H., & Lundholm, R. J. (2000). Voluntary disclosure and equity offerings: reducing information asymmetry or hyping the stock?. Contemporary accounting research, 17(4), 623-662. https://doi.org/10.1506/9N45-F0JX-AXVW-LBWJ
Lim, E. K., Chalmers, K., & Hanlon, D. (2018). The influence of business strategy on annual report readability. Journal of Accounting and Public Policy, 37(1), 65-81. https://doi.org/10.1016/j.jaccpubpol.2018.01.003
Martinez, A. L., & Ferreira, B. A. (2019). Business strategy and tax aggressiveness in Brazil. Journal of Strategy and Management, 12(4), 7-17. https://doi.org/10.1108/JSMA-03-2019-0040
Martins, V. G., Paulo, E., & Monte, P. A. (2016). O gerenciamento de resultados contábeis exerce influência na acurácia da previsão de analistas no Brasil?. Revista Universo Contábil, 12(3), 73-90.
Miles, R. E., & Snow, C. C (1978). Organizational strategy, structure and process. New York, McGrawHill. https://doi.org/10.5465/amr.1978.4305755
Miles, R. E., & Snow, C. C. (2007). Organization theory and supply chain management: an evolving research perspective. Journal of operations management, 25(2), 459-463.
Mota, R. H. G., da Cunha, A. C., de Oliveira, A. F., & Paulo, E. (2017). Previsão de lucro e gerenciamento de resultados: evidências empíricas no mercado acionário brasileiro. Revista Universo Contábil, 13(1), 06-26. Doi:10.4270/ruc.2017101
Murcia, F. D. R., & Wuerges, A. (2011). Escolhas contábeis no mercado brasileiro: divulgação voluntária de informações versus gerenciamento de resultados. Revista Universo Contábil, 7(2), 28-44. Doi:10.4270/ruc.2011211
Naiker, V., Navissi, F., & Sridharan, V. G. (2008). The agency cost effects of unionization on firm value. Journal of Management Accounting Research, 20(1), 133-152. https://doi.org/10.2308/jmar.2008.20.1.133
Nissim, D., & Penman, S. H. (2001). Ratio analysis and equity valuation: From research to practice. Review of accounting studies, 6(1), 109-154.
Osma, B. G., & Young, S. (2009). R&D expenditure and earnings targets. European Accounting Review, 18(1), 7-32. https://doi.org/10.1080/09638180802016718
Palmrose, Z. V., & Scholz, S. (2004). The circumstances and legal consequences of non‐GAAP reporting: Evidence from restatements. Contemporary Accounting Research, 21(1), 139-180. https://doi.org/10.1506/WBF9-Y69X-L4DX-JMV1
Penman, S. H., & Zhang, X. J. (2002). Accounting conservatism, the quality of earnings, and stock returns. The accounting review, 77(2), 237-264. https://doi.org/10.2308/accr.2002.77.2.237
Quinn, R. E., & Cameron, K. (1983). Organizational life cycles and shifting criteria of effectiveness: Some preliminary evidence. Management science, 29(1), 33-51. https://doi.org/10.1287/mnsc.29.1.33
Theodossiou, P., Kahya, E., Saidi, R., & Philippatos, G. (1996). Financial distress and corporate acquisitions: further empirical evidence. Journal of Business Finance & Accounting, 23(5‐6), 699-719.
Simons, R. (1987). Accounting control systems and business strategy: an empirical analysis. Accounting, organizations and society, 12(4), 357-374. https://doi.org/10.1016/0361-3682(87)90024-9
Soderstrom, N. S., & Sun, K. J. (2007). IFRS adoption and accounting quality: a review. European accounting review, 16(4), 675-702. https://doi.org/10.1080/09638180701706732
Stolowy, H., & Breton, G. (2004). Accounts manipulation: a literature review and proposed conceptual framework. Review of Accounting and Finance. https://doi.org/10.1108/eb043395
Yoon, S. (2007). Accounting quality and international accounting convergence. Dissertation (Doctor of Philosophy) - Oklahoma State University, Oklahoma.
Watts, R. & Zimmerman, J. (1986). Positive Accounting Theory, Prentice-Hall, Englewood Cliffs, NJ.
Published
2025-01-17
How to Cite
Lunardi, M. A., Haussmann, D. C. S., & Klann, R. C. (2025). Effect of business strategy on Accrual-based earnings management. Enfoque: Reflexão Contábil, 44(1), 114-130. https://doi.org/10.4025/enfoque.v44i1.63027
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