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  • Asset revaluations and earnings management: Evidence from Australian companies

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    RemmerbachPUB1939.pdf (284.7Kb)
    File version
    Accepted Manuscript (AM)
    Author(s)
    Hu, Fang
    Percy, Majella
    Yao, Daifei
    Griffith University Author(s)
    Percy, Majella
    Hu, Fang
    Year published
    2015
    Metadata
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    Abstract
    This paper examines the association between asset revaluations and discretionary accruals (a proxy for earnings management) using a sample of the largest 300 Australian companies. The results from this study indicate that the revaluation of non-current assets is positively associated with discretionary accruals. This finding is consistent with the argument that revaluation of assets reflects higher agency problems in the form of increased earnings management. Additional findings are that discretionary accruals are higher for firms reporting their non-current assets at fair values appraised by directors, than those of firms ...
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    This paper examines the association between asset revaluations and discretionary accruals (a proxy for earnings management) using a sample of the largest 300 Australian companies. The results from this study indicate that the revaluation of non-current assets is positively associated with discretionary accruals. This finding is consistent with the argument that revaluation of assets reflects higher agency problems in the form of increased earnings management. Additional findings are that discretionary accruals are higher for firms reporting their non-current assets at fair values appraised by directors, than those of firms that use external appraisers. As well, the choice of auditors and the strength of corporate governance can constrain the opportunistic behaviour of managers in the accounting choice to revalue non-current assets.
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    Journal Title
    Corporate Ownership & Control
    Volume
    13
    Issue
    1
    Publisher URI
    https://virtusinterpress.org/-2015-Issue-1,459-.html
    Copyright Statement
    © 2015 Virtus Interpress. The attached file is reproduced here in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.
    Subject
    Business and Management not elsewhere classified
    Accounting, Auditing and Accountability
    Banking, Finance and Investment
    Business and Management
    Publication URI
    http://hdl.handle.net/10072/141537
    Collection
    • Journal articles

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