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030 Department Bulletin Papers = 本学紀要論文
*Hitotsubashi journal of commerce and management
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Identifier to cite or link to this item: https://doi.org/10.15057/26979
Identifier to cite or link to this item: https://hdl.handle.net/10086/26979
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Title
QUARTERLY EARNINGS MANAGEMENT AROUND THE WORLD: LOSS AVOIDANCE OR EARNINGS DECREASE AVOIDANCE?
Creator
Creator Name
FUJIYAMA, KEISHI
FUJIYAMA, KEISHI
藤山, 敬史
藤山, 敬史
Affiliation
Affiliation Name
Hitotsubashi University
Creator Name
KAGAYA, TETSUYUKI
KAGAYA, TETSUYUKI
加賀谷, 哲之
加賀谷, 哲之
Affiliation
Affiliation Name
Hitotsubashi University
Creator Name
SUZUKI, TOMOHIRO
SUZUKI, TOMOHIRO
鈴木, 智大
鈴木, 智大
Affiliation
Affiliation Name
Asia University
Creator Name
TAKAHASHI, YUKARI
TAKAHASHI, YUKARI
Affiliation
Affiliation Name
Tokyo Metropolitan University
Key Word
Quarterly earnings management
international comparison
earnings attributes
loss avoidance
earnings decrease avoidance
JEL
M41
G35
M62
Abstract
The purpose of this study is to identify and explain the differences in the characteristics of earnings management around the world through an examination of quarterly earnings. First, we identify an earnings target in each country. We find that corporations in Finland, Germany, Italy, and Japan tend to avoid making losses and those in Israel and the U.S. tend to avoid earnings decrease. Second, we measure the extent of earnings management in each country. Our findings show that corporations in Japan, Germany, and Israel tend to manage earnings to achieve an earnings target, meanwhile those in Finland, Singapore, and the U.S. don't tend to manage earnings relatively. Third, we examine the dividend and investment policies. Corporations in Japan and Finland are dividend focused, meanwhile those in Israel and the U.S. are investment focused. Fourth, we calculate an institutional factor to identify the reasons for earnings targets, procedures, and dividend and investment behavior. Our results show that earnings targets, procedures, and dividend and investment behavior are closely related to the accountability for investment and the propensity to take risk in each country.
Publisher
Hitotsubashi University
Issued Date
2014-10
Language
English(eng)
Resource Type
departmental bulletin paper
Version Type
VoR
selfDOI
10.15057/26979
ISSN
0018-2796
NCID
AA00207536
Source Title
Hitotsubashi journal of commerce and management
Volume Number
48
Issue Number
1
Page Start
1
Page End
30
Appears in Collections
Vol. 48, no. 1 (Oct. 2014)
URL
https://hdl.handle.net/10086/26979
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