Audit Qualification and Timing of Earnings Announcements: Evidence from China

2003 ◽  
Vol 22 (2) ◽  
pp. 121-146 ◽  
Author(s):  
In-Mu G. Haw ◽  
Kyungjoo Park ◽  
Daqing Qi ◽  
Woody Wu
Keyword(s):  
Capital Market ◽  
Financial Distress ◽  
Significant Interaction ◽  
Earnings Announcements ◽  
Regulatory Environment ◽  
Significant Interaction Effect ◽  
Earnings Surprises ◽  
Audit Opinions ◽  
Annual Earnings ◽  
Negative Earnings

This study extends the scope of timing research to China's emerging capital market by examining the effects of audit opinions and earnings surprises on the timeliness of annual earnings announcements, after controlling for firm size, the presence of losses, financial distress, auditor switches, and changes in the Chinese regulatory environment. Based on a sample of listed Chinese firms for 1995–1999, we observe that both audit opinions and earnings surprises have significant effects, as reported in Bamber et al. (1993). We also find a significant effect attributable to the magnitude of negative earnings surprises as shown by Begley and Fischer (1998). In addition, we document a significant interaction effect between audit opinions and earnings surprises. Positive earnings surprises with modified audit opinions are announced significantly later than unqualified negative earnings surprises.

scholarly journals Event Study: Pengumuman Laba Terhadap Reaksi Pasar Modal (Study Empiris, Bursa Efek Indonesia 2004-2006)

2008 ◽  
Vol 1 (3) ◽  
Author(s):  
Binsar I. K. Telaumbanua ◽  
Sumiyana Sumiyana
Keyword(s):  
Event Study ◽  
Capital Market ◽  
Stock Price ◽  
Efficient Market Hypothesis ◽  
Earnings Announcement ◽  
Announcement Date ◽  
Information Contents ◽  
Annual Earnings ◽  
Investor Reaction ◽  
Negative Earnings

This paper examines the investor reaction to earnings announcement around publication dates. This paper divides into two categories. There are the positiveearning announcements which include EPS increasing, and the negative-earning announcements which consist EPS decreasing. The examination of content and efficient market hypothesis used event study. We propose one hypothesis as positifearnings announcement and negative-earnings announcement correlate to stock price reactions in IDX. The sample are the 29 companies from LQ 45 that release the annual earnings of year 2004-2006. The earnings announcement date is taken from Indonesian Securities Supervisory Agency (Bapepam). Statistical test with standard error of estimate (SEE) was used to test the abnormal return during event periods. The results show that investor do not respond significantly to the positive and negative earnings announcement at the announcement dates. In addition, earning announcements suggest information contents to capital market. Finally, the empirical result is contrary to the finding of Ball and Brown (1968), Foster (1977), and Hayn (1995). However, this evidence supports the Lako’s studies (2002a, 2002c).

Comparing Non-GAAP EPS in Earnings Announcements and Proxy Statements

2021 ◽  
Author(s):  
Dirk E. Black ◽  
Ervin L. Black ◽  
Theodore E. Christensen ◽  
Kurt H. Gee
Keyword(s):  
Financial Reporting ◽  
Capital Market ◽  
Firm Value ◽  
Earnings Announcements ◽  
Securities And Exchange Commission ◽  
Earnings Announcement ◽  
Market Incentives ◽  
Earnings Per Share ◽  
Earnings Components ◽  
Annual Earnings

We compare non-GAAP earnings per share (EPS) in firms’ annual earnings announcements and proxy statements using hand-collected data from U.S. Securities and Exchange Commission filings. We find that proxies for capital market incentives (contracting incentives) are more highly associated with firms’ disclosure of non-GAAP EPS in annual earnings announcements (proxy statements). However, we find systematic differences in the properties of firms’ non-GAAP earnings and exclusions depending on whether they disclose non-GAAP EPS in both the earnings announcement and the proxy statement. When firms disclose non-GAAP EPS in both documents, we find that non-GAAP EPS is more useful for assessing firm value. Specifically, these firms are more likely to: (1) exclude nonrecurring items, (2) exclude less persistent earnings components, and (3) provide less aggressive non-GAAP EPS. Our results suggest that non-GAAP EPS is higher in quality for investors when disclosed in both the annual earnings announcement and the proxy statement. We provide some of the first large-sample evidence consistent with the use of non-GAAP EPS metrics in both financial reporting and compensation contracting. This paper was accepted by Brian Bushee, accounting.

EFFECT OF SOWING DATE ON GRAIN YIELD OF CRAB GRASS

2001 ◽  
Vol 49 (3) ◽  
pp. 293-297
Author(s):  
S. O. Bakare ◽  
M. G. M. Kolo ◽  
J. A. Oladiran
Keyword(s):  
Grain Yield ◽  
Interaction Effect ◽  
Significant Interaction ◽  
Sowing Date ◽  
Yield Data ◽  
Significant Interaction Effect ◽  
Sowing Dates

There was a significant interaction effect between the variety and the sowing date for the number of productive tillers, indicating that the response to sowing date varied with the variety. A significant reduction in the number of productive tillers became evident when sowing was delayed till 26 June in the straggling variety as compared to sowing dates in May. Lower numbers of productive tillers were also recorded when the sowing of the erect variety was further delayed till 10 July. The grain yield data showed that it is not advisable to sow the straggling variety later than 12 June, while sowing may continue till about 26 June for the erect variety in the study area.

Pengaruh Penggunaan Model Pembelajaran dan Konsep Diri terhadap Kemampuan Berpikir Kretif Mahasiswa

2015 ◽  
Vol 3 (3) ◽  
Author(s):  
Nurul Hikmah
Keyword(s):  
Significant Interaction ◽  
Creative Thinking ◽  
Study Groups ◽  
Learning Model ◽  
Descriptive Statistics ◽  
Self Concept ◽  
Significant Interaction Effect ◽  
Significant Difference ◽  
Written Test ◽  
Self Learning

<p>The purpose of this study were to determine: 1) the influence of the learning <br />model of creative thinking; 2) the influence of self-concept to think creatively, and 3) the influence of the interaction and the concept of self-learning model for creative thinking. The research method used was experimental method. A sample of 80 people selected at random from the 13 study groups. The data was collected by administering a written test questions to measure variables studied. Data analysis using descriptive statistics and 2-way ANOVA. The results showed: 1) a significant difference to the learning model with the ability to think creatively sig = 0.000; 2) there is a significant effect of self-concept of <br />the ability to think creatively with sig = 0.000, and 3) there is a significant interaction effect of learning model and self-concept of the ability to think creatively with sig = 0.018. </p>

STEREOTYPE THREAT AND STEREOTYPE LIFT: THE CASE OF 10 YEAR OLD GIRLS AND BOYS

2016 ◽  
Vol 12 (4) ◽  
pp. 21-32
Author(s):  
Anna Kwiatkowska ◽  
Małgorzata Mróz
Keyword(s):  
Stereotype Threat ◽  
Cognitive Performance ◽  
Significant Interaction ◽  
Self Esteem ◽  
The Self ◽  
Experimental Conditions ◽  
Significant Interaction Effect ◽  
Significant Drop ◽  
Stereotype Lift ◽  
And Performance

The aim of this study was to examine the effects of stereotypical and counter-stereotypicalinformation on the self-esteem and cognitive performance of 10-year-old children. Our sampleconsisted of 37 girls and 37 boys. Children were presented with 10 “mathematical” puzzles in threeexperimental conditions: stereotypical (boys are better), counter-stereotypical (girls are better), andthe control condition (no particular information). Self-esteem was measured using a non-verbaltask. The results showed a significant interaction effect of “condition x sex” on self-esteem andperformance. Girls revealed no significant differences between control and experimental conditions,while boys showed a significant drop in self-esteem and performance in the counter-stereotypicalcondition as compared to the control condition and a significant lift in self-esteem and performancein the stereotypical condition as compared to the control condition.

Are Firms with Negative Book Equity in Financial Distress?

2015 ◽  
Vol 18 (03) ◽  
pp. 1550016 ◽  
Author(s):  
Tze Chuan Chewie ANG
Keyword(s):  
Failure Rate ◽  
Financial Distress ◽  
Operating Performance ◽  
Large Magnitude ◽  
Small Magnitude ◽  
First Report ◽  
Distress Risk ◽  
Financial Characteristics ◽  
And Control ◽  
Negative Earnings

This study examines whether negative book equity (BE) firms are in financial distress by analyzing their operating performance, financial characteristics, distress risk, and survivability when they first report negative BE. Firms with small magnitude of negative BE (SNBE firms) suffer from persistent negative earnings and financial distress, while firms with large magnitude of negative BE (LNBE firms) experience a temporary non-distress related earnings shock. LNBE firms report consecutive years of negative BE, but have lower distress risk and failure rate than both SNBE and control firms. However, all negative BE stocks have abysmal returns subsequent to their first report of negative BE.

Stock Price Behavior Associated with Post-1974–75 LIFO Adoptions Announced at Alternative Disclosure Times

1996 ◽  
Vol 11 (4) ◽  
pp. 535-564 ◽  
Author(s):  
Morton Pincus ◽  
Charles E. Wasley
Keyword(s):  
Stock Prices ◽  
Stock Price ◽  
Earnings Announcements ◽  
Market Response ◽  
Price Behavior ◽  
Positive Information ◽  
Earnings Announcement ◽  
Earnings Growth ◽  
Adoption Decision ◽  
Annual Earnings

We examine the behavior of stock prices at the time of post-1974–75 LIFO adoption announcements. We exploit recent theoretical and empirical developments in the LIFO adoption literature in an attempt to resolve some of the mixed findings in Hand (1993). We study LIFO adoptions announced prior to as well as at the time of annual earnings announcements. Previous research has mostly centered on 1974–75 adoptions made at the time of annual earnings announcements. Our study of LIFO adoptions announced prior to annual earnings announcement dates enables us to provide evidence on whether the early announcement of a LIFO adoption is used by firms to signal positive information about earnings growth. Collectively, our results suggest that in explaining the market response to LIFO adoption announcements, extant models of the LIFO adoption decision do not fully capture the richness of differing inflationary environments or of alternative disclosure times.

Family environment of eating disordered patients with and without self-injurious behaviors

2004 ◽  
Vol 19 (8) ◽  
pp. 494-498 ◽  
Author(s):  
Laurence Claes ◽  
Walter Vandereycken ◽  
Hans Vertommen
Keyword(s):  
Psychiatric Disorders ◽  
Family Environment ◽  
Interaction Effect ◽  
Significant Interaction ◽  
Family Context ◽  
Hair Pulling ◽  
Significant Interaction Effect ◽  
Eating Disordered ◽  
Significant Difference ◽  
The Family

AbstractObjective.– The family environment is known to be an important contributor to the course of psychiatric disorders. In this study, we examined the family context of eating disordered (ED) patients with and without self-injurious behaviors (SIB).Method.– A Dutch adaptation of the Family Environment Scale ‘Sci Eng 57(9-B):1997;5927’ was completed by 131 ED patients of whom 47% showed at least one form of SIB (e.g., cutting, burning, hair pulling, etc.).Results– Results showed a significant difference in family environment between patients with and without SIB. The family environment of self-injuring ED patients was less cohesive, expressive and socially oriented, and more conflictual and disorganized than the family environment of those without SIB. No significant differences in perceived family environment were found with respect to the number or form of SIB and the subtype of ED. Neither did we find a significant interaction effect between ED subtype and presence/absence of SIB.

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