نوع مقاله : مقاله پژوهشی

نویسندگان

گروه حسابداری، واحد لاهیجان، دانشگاه آزاد اسلامی، لاهیجان، ایران.

چکیده

هدف: هدف از این پژوهش بررسی رابطه بین میزان دسترسی به اهداف سودآوری و کیفیت سود در شرکت‌های پذیرفته شده در بورس اوراق بهادار تهران است.
روش‌شناسی پژوهش: فرضیه‌های پژوهش بر اساس داده‌های گردآوری شده از 159 شرکت پذیرفته شده در بورس اوراق بهادار تهران، در طی سال‌های 1393 تا 1398 است. برای تجزیه‌وتحلیل داده‌ها و آزمون فرضیه‌ها، از الگوی رگرسیون خطی چند متغیره به روش داده‌های ترکیبی استفاده شده است.
یافته‌ها: نتایج این پژوهش حاکی از آن است که در سطح اطمینان %95 بین میزان رسیدن به اهداف سودآوری و مدیریت سود تعهدی رابطه معناداری وجود ندارد. از سوی دیگر میزان رسیدن به اهداف سودآوری تأثیر منفی و معناداری بر مدیریت سود واقعی می‌گذارد. همچنین نتایج نشان می‌دهد شرکت‌هایی که به اهداف سودآوری خود می‌رسند، تمایل بیشتری برای هموارسازی سود خود نیز دارند.
اصالت/ارزش افزوده علمی: این مطالعه با ارائه شواهد تجربی جدید در مورد اثرات رسیدن به سود پیش‌بینی شده، به ادبیات کمک می‌کند. یافته‌های این مطالعه می‌تواند به سرمایه‌گذاران جهت تصمیم‌گیری بهتر سرمایه‌گذاری کمک نماید. همچنین یافته‌های ما پیامدهای مهمی برای سیاست‌گذاران و نهادهای نظارتی دارد.

کلیدواژه‌ها

عنوان مقاله [English]

Investigating the Relationship between Achieving Profit Target and Profit Quality in Companies Listed on the Tehran Stock Exchange

نویسندگان [English]

  • Seyed Reza Seyed Nezhad Fahim
  • Zohreh Jahanpanah

Department of Accounting, Lahijan Branch, Islamic Azad University, Lahijan, Iran.

چکیده [English]

Purpose: The purpose of this study is to investigate the relationship between the level of achievement of profitability goals and profit quality in companies listed on the Tehran Stock Exchange.
Methodology: How are the objectives achieved? Include the main method(s) used for the research. What is the approach to the topic and what is the theoretical or subject scope of the paper?
Methodology: The research hypotheses are based on data collected from 159 companies listed on the Tehran Stock Exchange during the years 1393 to 1398. To analyze the data and test the hypotheses, a multivariate linear regression model using the combined data method was used.
Findings: The results of this study indicate that at 95% confidence level there is no significant relationship between the achievement of profitability goals and accrued earnings management. On the other hand, the rate of achievement of profitability goals has a significant negative impact on real profit management. The results also show that companies that achieve their profitability goals are more inclined to smooth their profits.
Originality/Value: This study contributes to the literature by providing new empirical evidence on the effects of projected profits. The findings of this study can help investors to make better investment decisions. Our findings also have important implications for policymakers and regulators.

کلیدواژه‌ها [English]

  • Achievement of profitability goals
  • Accrued earnings management
  • Real earnings management
  • Earnings smoothing
Badertscher, B. A. (2011). Overvaluation and the choice of alternative earnings management mechanisms. The accounting review86(5), 1491-1518. https://doi.org/10.2308/accr-10092
Bartov, E., Givoly, D., & Hayn, C. (2002). The rewards to meeting or beating earnings expectations. Journal of accounting and economics33(2), 173-204. https://doi.org/10.1016/S0165-4101(02)00045-9
Cohen, D. A., & Zarowin, P. (2010). Accrual-based and real earnings management activities around seasoned equity offerings. Journal of accounting and economics50(1), 2-19. https://doi.org/10.1016/j.jacceco.2010.01.002
Commerford, B. P., Hatfield, R. C., & Houston, R. W. (2018). The effect of real earnings management on auditor scrutiny of management's other financial reporting decisions. The accounting review93(5), 145-163. https://doi.org/10.2308/accr-52032
Das, S., Kim, K., & Patro, S. (2011). An analysis of managerial use and market consequences of earnings management and expectation management. The accounting review86(6), 1935-1967. https://doi.org/10.2308/accr-10128
Demerjian, P., Lewis-Western, M., & McVay, S. (2020). How does intentional earnings smoothing vary with managerial ability?. Journal of accounting, auditing & finance35(2), 406-437. https://doi.org/10.1177/0148558X17748405
Elshafie, E., Yen, A. R., & Yu, M. (2010). The association between pro forma earnings and earnings management. Review of accounting and finance, 9(2), 139-155. https://doi.org/10.1108/14757701011044161
Evans, M. E., Houston, R. W., Peters, M. F., & Pratt, J. H. (2015). Reporting regulatory environments and earnings management: US and non-US firms using US GAAP or IFRS. The accounting review90(5), 1969-1994. https://doi.org/10.2308/accr-51008
Hasanuddin, R., Darman, D., Taufan, M. Y., Salim, A., Muslim, M., & Putra, A. H. P. K. (2021). The effect of firm size, debt, current ratio, and investment opportunity set on earnings quality: an empirical study in Indonesia. The journal of Asian finance, economics and business8(6), 179-188. https://koreascience.kr/article/JAKO202115563408840.page
Imeni, M., Fallah, M., & Edalatpanah, S. A. (2021). The effect of managerial ability on earnings classification shifting and agency cost of Iranian listed companies. Discrete dynamics in nature and society2021. https://doi.org/10.1155/2021/5565605
Imeni, M., Fereydoon Rahnama Roodposhti, F., & Banimahd, B. (2019). Relationship real activities manipulation with accrual-based earnings management using recursive equation system approach. Journal of management accounting and auditing knowledge8(29), 1-14. (In Persian). https://jmaak.srbiau.ac.ir/article_13822_en.html?lang=en
Ishida, S., Kochiyama, T., & Shuto, A. (2021). Are more able managers good future tellers? learning from Japan. Journal of accounting and public policy40(4), 106815. https://doi.org/10.1016/j.jaccpubpol.2020.106815
Kasznik, R. (1999). On the association between voluntary disclosure and earnings management. Journal of accounting research37(1), 57-81. https://doi.org/10.2307/2491396
Kim, J. (2021). Earnings attributes that contribute to analyst forecasting errors: empirical evidence from Korea. The journal of Asian finance, economics and business8(8), 647-658. https://koreascience.kr/article/JAKO202120953687347.page
Kross, W. J., Ro, B. T., & Suk, I. (2011). Consistency in meeting or beating earnings expectations and management earnings forecasts. Journal of accounting and economics51(1-2), 37-57. https://doi.org/10.1016/j.jacceco.2010.06.004
Kurdistani, Gh., & Lotfi, A. (2013). Investigating the relationship between earnings forecast error and accruals. Financial accounting research, 3(2), 63-78. (In Persian). https://www.sid.ir/fa/journal/ViewPaper.aspx?ID=136708
Leuz, C., Nanda, D., & Wysocki, P. D. (2003). Earnings management and investor protection: an international comparison. Journal of financial economics69(3), 505-527. https://doi.org/10.1016/S0304-405X(03)00121-1
Maham, K., & Zolghadr, M. (2012). The association between management earnings forecast and earnings management. Financial accounting knowledge, 02(4), 65-87. (In Persian).  https://jfak.journals.ikiu.ac.ir/article_1202.html?lang=fa
Mahdavi, Gh. H., & Zare Hosseinabadi, A. (2011). Investigating the relationship between projected profit error and accruals of all companies listed on the Tehran Stock Exchange. Journal of the stock exchange, 4(16), 57-78. (In Persian). https://www.sid.ir/fa/journal/ViewPaper.aspx?id=202584
Matsumoto, D. A. (2002). Management's incentives to avoid negative earnings surprises. The accounting review77(3), 483-514. https://doi.org/10.2308/accr.2002.77.3.483
Nikbakht, M. R., Ghasemi, A., & Imani Brandagh, M. (2020). The effect of management earnings forecast error on the stability of cash and accrual components of earnings and overvaluation of stocks. Financial accounting and auditing research, 12(46), 1-26. (In Persian). https://www.sid.ir/fA/Journal/ViewPaper.aspx?ID=508661
Owusu, A., Zalata, A. M., Omoteso, K., & Elamer, A. A. (2020). Is there a trade-off between accrual-based and real earnings management activities in the presence of (fe) male auditors?. Journal of business ethics, 1-22. https://doi.org/10.1007/s10551-020-04672-5
Rahmani, A., & Ramsheh, M. (2014). Trade-off between accrual-based earnings management and real activities manipulation. Accounting and auditing review, 20(4), 39-60. DOI: 10.22059/acctgrev.2014.36587
Roychowdhury, S. (2006). Earnings management through real activities manipulation. Journal of accounting and economics42(3), 335-370.
Souri, H., Abad, M., Hakimi, S., Khodakarim, S., Zarqi, A., Mehrabi, Y., & Yazdanbakhsh, A. R. (2014). Management and guidance of doctoral dissertation: a guide for professors and students, the Avaye ghalam. (In Persian)
Wali, S., & Masmoudi, S. M. (2020). Internal control and real earnings management in the French context. Journal of financial reporting and accounting18(2), 363-387. https://doi.org/10.1108/JFRA-09-2019-0117
Zhang, Y., Perols, J., Robinson, D., & Smith, T. (2018). Earnings management strategies to maintain a string of meeting or beating analyst expectations. Advances in accounting43, 46-55. https://doi.org/10.1016/j.adiac.2018.09.001