Abstract :
AbstractThis study examines the relationship between accounting comparability and the quality of financial reporting and the pricing efficiency of discretionary accruals, taking the view that comparability improves the information environment and not only enhances the ability of managers to accurately assess liabilities, it also improves investors' understanding of commitments. The investigation companies included 71 companies during the years 2012 to 2019. In this study, Di Franco's (2011) model for accounting comparability, Kotari et al. (2005) and Kaznik's (1999) models for financial reporting quality, and McNichols' (2002) model for accruals were used. The findings showed that increasing the comparability of financial statements reduced the absolute value of accruals and the lower the amount, the higher the quality of financial reporting. Overall, the obtained results revealed that comparability is associated with higher quality financial reporting, as comparability improves the accrual estimation process and the ability to signal future performance. Further, it was concluded that accountability comparability has a negative relationship with the pricing efficiency of optional accruals. In other words, the higher comparability of financial statements in the previous year has increased the perception of users regarding the financial statements of pricing of accruals. Accordingly, the more negative the coefficient of the variable, the higher the understanding of investors. We also found that when comparability was greater, the investors did not respond so strongly to optional accruals.
References:
فهرست منابع
خان محمدی، محمد، مرادی و خدایی، (1397)، "بررسی رابطه بین قابلیت مقایسه صورت‌های مالی و نگهداشت وجه نقد در شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران"، مجله پژوهش در حسابداری و علوم اقتصادی، سال دوم، شماره سه (پیاپی چهارم)، جلد یک
رضایی، فرزین؛ مریم مرادی و لیلا مرادی، (1399)، "تأثیر ویژگی‌های شرکت بر رابطه بین قابلیت مقایسه صورت‌های مالی و نگهداشت وجوه نقد شرکت‌ها"، پژوهش‌های تجربی حسابداری، صص 61-80.
فرساد، غلامرضا و مهدی معدنچی، (2019)، "نقش اقلام تعهدی درسودآوری و سود سهام شرکت‌ها"، مجله پژوهش‌های حسابداری مالی و حسابرسی، (42)11، صص 71-92.
کیا، علی و مهدی صفری گرایلی، (1396)، "قابلیت مقایسه صورت‌های مالی، مدیریت سود تعهدی و مدیریت سود واقعی"، مجله علمی-پژوهشی دانش حسابداری مالی، دوره 4، شماره 2، پیاپی13، صص 137-115
مقدم، رقیه و زهرا لشگری ، (1397)، "تأثیر سیاست‌های تقسیم سود سهام بر تصمیمات سرمایه‌گذاری با تأکید بر کیفیت گزارشگری مالی"، مجله پژوهش‌های حسابداری مالی و حسابرسی، (40)10، صص 21-46.
مهدوی، غلامحسین و غلامرضا رضایی، (1392)، "بررسی اثرات کیفیت گزارشگری مالی بر سیاست تقسیم
_||_
Arya, A., Glover, J., & Sunder, S. (2003), “Is Transparent Financial Reporting Better for Shareholders?”, Accounting Horizons, 17, PP. 111–
Barth, M., Landsman, W., Lang, M., & Williams, C. (2012), “Are IFRS-based and US GAAPbased Accounting amounts Comparable?”, Journal of Accounting and Economics, 54, 68–93.
Beaver, W., & Engel, E. (1996), “Discretionary Behavior with Respect to Allowances for Loan Losses and the Behavior of Security Prices”, Journal of Accounting and Economics, 22, 177–206.
Bowen, R., Rajgopal, S., & Venkatachalam, M. (2008), “Accounting Discretion, Corporate Governance, and Firm Performance”, Contemporary Accounting Research
Beatty, A., Liao, S., & Yu, J. J. (2013), “The Spillover Effect of Fraudulent Financial Reporting on Peer Firms' Investments”, Journal of Accounting and Economics, 55, PP. 183–
Chauhan, Y., & Kumar, S. B. (2019), “Does Accounting Comparability Alleviate the Informational Disadvantage of Foreign Investors?”, International Review of Economics & Finance, 60, PP. 114-129.
Chen, C., Collins, D., Kravet, T., & Mergenthaler, R. (2014), “Financial Statement Comparability and the Efficiency of Acquisition Decisions”, (Working Paper).
Cheng, P., Man, P., & Yi, C. H. (2013), “The Impact of Product Market Competition on Earnings Quality”, Accounting & Finance, 53(1), PP. 137-162.
Choi, J., Choi, S., Myers, L., & Ziebart, D. (2014), “Financial Statement Comparability and the Ability of Current Stock Returns to Reflect the Information in Future Earnings”, (Working Paper).
Choi, S., & Salamon, G. (1989), “Advances in Quantitative Analysis of Finance and Accounting3”, PP. 85–
De Franco, G., Kothari, S. P., & Verdi, R. (2011), “The Benefits of Financial Statement Comparability”, Journal of Accounting Research, 49(4), PP. 895–
Desir, R. (2012), “How Do Managers of Non-announcing Firms Respond to Intra-industry Information Transfers?”, Journal of Business Finance & Accounting, 9, PP. 1180–
Durnev, A., & Mangen, C. (2009), “Corporate Investments: Learnings from Restatements”, Journal of Accounting Research, 47(3), PP. 679–
Demerjian, P., Lev, B., Lewis, M., & McVay, S. (2013), “Managerial Ability and Earnings Quality”, The Accounting Review, 88(2), PP. 463–
Francis, J., Lafond, R., Olsson, P., & Schipper, K. (2005), “The Market Pricing of Accruals Quality”, Journal of Accounting and Economics, 39, PP. 295–
Francis, J., Huang, S., & Khurana, I. (2015), “The Role of Similar Accounting Standards in Cross-border Mergers and Acquisitions”, Contemporary Accounting Research, 33(3), PP. 1298–
Gordon, E., Greiner, A., Kohlbeck, M., Lin, S., & Skaife, H. (2013), “Challenges and Opportunities in Cross-country Accounting Research”, Accounting Horizons, 27(1), PP. 141–
Gong, G., Li, L. Y., & Zhou, L. (2013), “Earnings Non-synchronicity and Voluntary Disclosure”, Contemporary Accounting Research, 30(4), PP. 1560–
Habib, ,Monzur Hasan, M., Al-Hadi, A. (2017), “Financial Statement Comparability and Corporate Cash Holdings”, Journal of Contemporary Accounting & Economics,3(13), PP. 304-321.
Holthausen, R., & Verrecchia, R. (1988), “The Effects of Sequential Information Releases on the Variance of Price Changes in an Intertemporal Multi-asset Market”, Journal of Accounting Research, 26, PP. 82–
Kim, S., Kraft, P., & Ryan, S. (2013), “Financial Statement Comparability and Credit Risk”, Review of Accounting Studies, 18, PP. 783–
Kothari, S. P., Leone, A. J., & Wasley, C. E. (2005), “Performance Matched Discretionary Accrual Measures”, Journal of Accounting and Economics, 39(1), PP. 163-197.
Kasznik RO. (1999), “Onthe Association between Voluntary Disclosure and Earnings Management”, Journal of Accounting Research, 37, PP. 57-81.
Libby, R., & Luft, J. (1993), “Determinants of Judgment Performance in Accounting Settings: Ability, Knowledge, Motivation, and Environment”, Accounting, Organizations and Society, 18(5), PP. 425–
Louis, H., & Robinson, D. (2005), “Do Managers Credibly Use Accruals to Signal Private Information? Evidence from the Pricing of Discretionary Accruals around Stock Splits”, Journal of Accounting and Economics, 39, PP. 361–
Maiga, A. S., & Jacobs, F. A. (2006), “Assessing the Impact of Benchmarking Antecedents on Quality Improvement and its Financial Consequences”, Journal of Management Accounting Research, 18, PP. 97–
Mitchell, M. L., & Mulherin, J. H. (1996), “The Impact of Industry Shocks on Takeover and Restructuring Activity”, Journal of Financial Economics, 41, PP. 193–
Perotti, P., & Wagenhofer, A. (2014), “Earnings Quality Measures and Excess Returns”, Journal of Business Finance & Accounting, 41(5), PP. 545–
Revsine, L., Collins, D., Johnson, W. B., & Mittelstaedt, H. F. (2011), “Financial Reporting and Analysis (5th ed.)”, New York, NY: McGraw-Hill Irwin.
Sloan, R. (1996), “Do Stock Prices Fully Reflect Information in Accruals and Cash Flows about Future Earnings?”, The Accounting Review, 71, 289–315.
Srivastava, A. (2014), “Why Have Measures of Financial Reporting Quality Changed over Time?”, Journal of Accounting and Economics, 57, PP. 196–
Schipper, K. (1989), “Commentary on Information Transfers”, Accounting Horizons, 4, 94–107.
Sohn, B. C. (2016), “The Effect of Accounting Comparability on the Accrual –based and Real Earnings Management”, Journal of Account Public Policy, 35(5), PP. 513 -539.
Teoh, S., & Wong, T. (1993), “Perceived Auditor Quality and the Earnings Response Coefficient”, The Accounting Review, 68(2), PP. 346–
Watts, R., & Zimmerman, J. (1986), “Positive Accounting Theory”, Englewood Cliffs, NJ: Prentice Hall.
Xie, H. (2001), “The Mispricing of Abnormal Accruals”, The Accounting Review, 76(3), PP. 357–
