Parallels and Differences in Earnings Management of the Visegrad Four and the Baltics

IF 4.4 1区 管理学 Q2 BUSINESS Journal of Competitiveness Pub Date : 2021-09-30 DOI:10.7441/joc.2021.03.03
P. Durana, R. Ginevičius, M. Urbański, Ivana Podhorska, M. Tumpach
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引用次数: 15

Abstract

Earnings management is a legal and widely preferred phenomenon of business finance that financial managers use to maintain and improve the enterprise’s competitiveness. Managers purposely manipulate business earnings to achieve the required status of the enterprise. The consequence of these activities is to provide a positive perspective for the owners, encourage the profitability for the creditor and the investors as well as demonstrate economic strengths to competitors. This article aims to identify parallels and differences in earnings management of enterprises in the Visegrad Four and the Baltics in terms of competitiveness for the nineyear period 2010-2018. The research uses a final sample of 4,543 observations from the EBITs of Slovak, Czech, Hungarian and Polish enterprises as well as 1,633 observations from the EBITs of Latvian, Lithuanian and Estonian enterprises. Time-series methods with all necessary assumptions have been run for the analyzed financial dataset. The results of the econometric modeling of unit roots show significant parallels in these groups of countries. The enterprises from the Visegrad group and the Baltics group use the apparatus of earnings management to be competitive. The obtained results confirm the systematic but legal manipulation from the side of management. A quantitative analysis of homogeneity tests using 1,000,000 Monte Carlo simulations indicates significant time differences of manipulation in these emerging countries. The year 2014 signaled a radical “accelerando” in earnings management for the V4, and the year 2016 is highlighted for the Baltics.
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维谢格拉德四国与波罗的海国家盈余管理的异同
盈余管理是一种合法的、被广泛采用的企业财务现象,财务管理者利用盈余管理来维持和提高企业的竞争力。管理者故意操纵企业收益,以达到企业所要求的状态。这些活动的结果是为所有者提供一个积极的前景,鼓励债权人和投资者的盈利能力,并向竞争对手展示经济实力。本文旨在确定维谢格拉德四国和波罗的海国家企业在2010-2018年九年间竞争力方面的盈余管理的异同。该研究使用了斯洛伐克、捷克、匈牙利和波兰企业的息税前收益的4,543个观察值以及拉脱维亚、立陶宛和爱沙尼亚企业的息税前收益的1,633个观察值作为最终样本。对所分析的金融数据集进行了具有所有必要假设的时间序列方法。单位根计量经济模型的结果显示,在这些国家中有显著的相似之处。维谢格拉德集团和波罗的海集团的企业利用盈余管理的工具来提高竞争力。所得结果从管理方面证实了系统而合法的操纵。使用1,000,000蒙特卡罗模拟对同质性测试进行的定量分析表明,这些新兴国家的操纵存在显著的时间差异。2014年标志着V4国家在盈余管理方面的彻底“加速”,2016年是波罗的海国家的重点。
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来源期刊
CiteScore
11.30
自引率
2.70%
发文量
33
审稿时长
12 weeks
期刊介绍: The Journal of Competitiveness, a scientific periodical published by the Faculty of Management and Economics of Tomas Bata University in Zlín in collaboration with publishing partners, presents the findings of basic and applied economic research conducted by both domestic and international scholars in the English language. Focusing on economics, finance, and management, the Journal of Competitiveness is dedicated to publishing original scientific articles. Published four times a year in both print and electronic formats, the journal follows a rigorous peer-review process with each contribution reviewed by two independent reviewers. Only scientific articles are considered for publication, while other types of papers such as informative articles, editorial materials, corrections, abstracts, or résumés are not included.
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