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Environmental crisis management and earnings strategy: two cases.
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Местонахождение: Алматы | Состояние экземпляра: новый |
Бумажная
версия
версия
Автор: Jia Hu and Peng Cheng
ISBN: 9783659613067
Год издания: 2014
Формат книги: 60×90/16 (145×215 мм)
Количество страниц: 72
Издательство: LAP LAMBERT Academic Publishing
Цена: 23635 тг
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Сферы деятельности:Код товара: 140042
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Аннотация: This paper examines the accounting choice in a response to a major environmental crisis by looking at BP (British Petroleum) and Zijin Mining (a mining firm listed on Shanghai Stock Exchange, ZM hereafter), both of which face an environmental crisis at a similar level in 2010. The results show that BP may overly recognize crisis-related expenses in the year of crisis, suggesting that BP is likely to use the income-decreasing earnings management (e.g., big bath accounting etc.) as a response to the crisis. Then, BP partly reverses the expenses and pushes up reported earnings in the subsequent year. On the contrary, ZM’s operating performance (sales growth & profitability) and stock performance seem to be superior subsequent to the crisis. Importantly, we find that the firm uses income-increasing accruals management to boost reported earnings. Further data investigation indicates that several specific accruals have been inflated in the year of crisis: i.e., provisions for asset impairment, accounts receivables and inventories. In addition, a few real earnings management items have been examined, but the findings are mixed.
Ключевые слова: Crisis, accruals-based earnings management, Cultural Values, Institutional Environment