Earnings management prior to mergers and acquisitions: The role of acquirers’ ownership structures. Evidence from Poland

Piosik, Andrzej; Genge, Ewa

doi:10.1016/j.procs.2020.09.139

Cited by 9 publications

(7 citation statements)

References 48 publications

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“…In my study, the presence of managerial ownership in equity is expected to reduce discretionary revenue when the forecasted income has been missed by a small amount. This hypothesis is also justified by other research results from Poland, according to which the sizes of earnings management performed by transactions before mergers and acquisitions werereduced when equity included managerial ownership [62]. Consequently, the following hypothesis is proposed: Hypothesis 3 (H3).…”

Section: A Function Of Managerial Ownership In Earnings Managementmentioning

confidence: 63%

Revenue Identification in Attaining Consensus Estimates on Income Predictions: The Function of Ownership Concentration and Managerial Ownership Confirmation from Poland

Piosik

2021

Sustainability

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Financial reliability, along with clearness of business transactions, is one of the mainstays of sustainability. In this research, I investigate whether enterprises expand discretionary revenue when their income before intentional shaping is marginally under the consensus on the income prediction provided by analysts. The innovation of the paper lies in taking into account the role of managerial ownership, ownership concentration, and higher proportions of institutional investors in this situation. Higher ownership concentration and greater percentage of institutional investors in equity were analysed while considering the expropriation hypothesis. In order to assess the concern of managerial ownership for revenue manipulation, I considered the alignment of interest hypothesis. In this research, I certified that enterprises expand discretionary revenue when their revenue and operating income prior to intentional shaping barely miss the consensus forecast. I found that the existence of managerial ownership curtailed the magnitudes of upward discretionary revenue when revenue prior to intentional shaping was marginally below the consensus on revenue. Greater ownership concentration and higher proportions of institutional investors were on the bound of the statistical trend to expand discretionary revenue when net earnings, before intentional shaping, were marginally below analysts’ forecasts.

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Section: A Function Of Managerial Ownership In Earnings Managementmentioning

confidence: 63%

Revenue Identification in Attaining Consensus Estimates on Income Predictions: The Function of Ownership Concentration and Managerial Ownership Confirmation from Poland

Piosik

2021

Sustainability

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“…Hasil dalam penelitian menunjukkan bahwa kepemilikan manajemen terbukti memiliki pengaruh yang positif dan signifikan terhadap manajemen laba. Hal ini didukung oleh hasil penelitian terdahulu yang dilakukan oleh (Dong et al, 2020) dan (Piosik & Genge, 2020). Kepemilikan seorang manajer akan ikut menentukan kebijakan dan pengambilan keputusan terhadap metode akuntansi yang diterapkan pada perusahaan yang mereka kelola.…”

Section: Pengaruh Kepemilikan Manajerial Terhadap Manajemen Labaunclassified

Analisis Faktor-Faktor Yang Mempengaruhi Manajemen Laba Dengan Profitabilitas Sebagai Variabel Moderating Pada Perusahaan Pertambangan Yang Terdaftar Di Bursa Efek Indonesia

2021

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Penelitian ini dilakulan untuk mengetahui apakah asimetri informasi, leverage, audit tenure dan kepemilikan manajerial berpengaruh terhadap manajemen laba pada Perusahaan Pertambangan yang terdaftar di Bursa Efek Indonesia (BEI). Selain itu, penelitian ini juga bertujuan untuk mengetahui apakah profitabilitas dapat dijadikan sebagai variabel moderating dalam model penelitian. Penelitian ini merupakan penelitian assosiatif kausal. Berdasarkan teknik purposive sampling, maka jumlah sampel yang digunakan dalam penelitian ini adalah 9 Perusahaan Pertambangan yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2008-2019, sehingga total observasi yang digunakan dalam penelitian ini adalah 108 data. Untuk teknik analisis data, penelitian ini menggunakan pendekatan Structural Equation Model (SEM) berbasis Partial Least Square (PLS) yang dijalankan dengan menggunakan bantuan software SmartPLS. Hasil yang ditemukan dalam penelitian ini menunjukkan bahwa asimetri informasi, audit tenure dan kepemilikan manajerial terbukti memiliki pengaruh yang positif dan signifikan terhadap manajemen laba. Sedangkan leverage memiliki pengaruh yang negatif dan signifikan. Sementara itu, hasil lainnya dalam penelitian ini menunjukkan bahwa profitabilitas hanya mampu memoderasi pengaruh leverage terhadap manajemen laba, sedangkan pada variabel independen lainnya tidak.

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“…The first one says that companies are subject to expropriation by the controlling shareholders, or the managerial ownership can lead to managerial opportunism. Conversely, the alignment of interest hypothesis suggests that more extensive participation results in a more significant coincidence of interests amid controlling stockholders and other interested parties, or the managerial ownership in equity reduces managerial opportunism ( Razzaque et al., 2016 ; Piosik and Genge, 2020 ).…”

Section: Literature Reviewmentioning

confidence: 99%

Corporate ownership concentration drivers in a context dominated by private SME's

Reis

Pinto

2021

Heliyon

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This paper aims to ascertain how company-specific factors influence the corporate ownership concentration of Portuguese firms. The paper employs several different regression techniques: Generalized Linear Model, Ordered Logit, 2 Stage Least Squares, Ordinary Least Squares, Truncated and Constrained regression. Additionally, to test the model's prediction power, it conducts an in and out-of-sample analysis and used joint-rolling window regressions and dependent variables intervals partition to test the robustness of the model under different sample restrictions. Firm size, profitability, the number of subsidiaries, and bank concentration are positive determinants of ownership concentration, while an opposite influence is found concerning auditor qualification and the board of directors' size. Significant implications are provided for the policymaking in countries where capital markets are underdeveloped, and concentrated ownership is common to help the regulator determining the power of controlling shareholders. This study enriches the literature on the determinants of corporate ownership, being the first study to approach non-public companies. It adds novelty by incorporating new company factors which are scarce in ownership studies.

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Earnings management prior to mergers and acquisitions: The role of acquirers’ ownership structures. Evidence from Poland

Cited by 9 publications

References 48 publications

Revenue Identification in Attaining Consensus Estimates on Income Predictions: The Function of Ownership Concentration and Managerial Ownership Confirmation from Poland

Revenue Identification in Attaining Consensus Estimates on Income Predictions: The Function of Ownership Concentration and Managerial Ownership Confirmation from Poland

Analisis Faktor-Faktor Yang Mempengaruhi Manajemen Laba Dengan Profitabilitas Sebagai Variabel Moderating Pada Perusahaan Pertambangan Yang Terdaftar Di Bursa Efek Indonesia

Corporate ownership concentration drivers in a context dominated by private SME's

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