Full-text resources of CEJSH and other databases are now available in the new Library of Science.
Visit https://bibliotekanauki.pl

PL EN


2006 | 4/2006 (14) | 57-76

Article title

Jakość zysku - ujęcie metodologiczne

Authors

Content

Title variants

EN
Earnings quality from a methodological perspective

Languages of publication

PL EN

Abstracts

PL
W okresie post-enronowskim pojęcie "Jakość Zysku" (Earnings quality) jest szeroko dyskutowane w kontekście przestępstw białych kołnierzyków, oszustw w ramach tworzenia sprawozdań finansowych, manipulowania wynikiem finansowym, zakresu ujawnianych informacji (publicznych i prywatnych) oraz ogólnie wiarygodności danych prezentowanych w sprawozdaniu finansowym. Element analizy kondycji finansowej jednostki gospodarczej staje się istotny. Wskazuje, w jakim zakresie wygenerowany zysk jest użyteczny w podejmowaniu ekonomicznych decyzji. Dostarcza informacji na temat stopnia pokrycia zysku prezentowanego w raporcie finansowym z wynikiem rzeczywistym, analizuje istotność decyzyjną zysku dla celów prognostycznych, jego stabilność oraz trwałość. W literaturze przedmiotu można znaleźć szereg metod pomiaru jakości zysku. W artykule usystematyzowano i przedstawiono sposób definiowania i pomiaru jakości zysku przyjęty w ramach empirycznych badań prowadzonych w tym zakresie.
EN
In the post-Enron period the term of 'earnings quality' has been widely discussed in the context of white-collar crime, frauds committed upon producing financial reports, financial result manipulations, the scope of disclosed information (public and private), and the general credibility of the data provided for in a financial report. An element of analyzing the financial standing of an economic entity becomes essential, since it determines the extent to which the generated profit is usable in making economic decisions. It provides for the information on the range in which the profit presented in the financial report coincides with the actual result, analyzes the decisive relevance of profit for the purposes of forecasting, its stability and durability. The specialist literature covers a variety of profit quality measurement methods. The paper features a systemized method of defining and measuring profit quality assumed for the empirical research carried out in the field.

Keywords

Year

Issue

Pages

57-76

Physical description

Dates

published
2006-12-15

Contributors

  • Wyższa Szkoła Menedżerska w Warszawie

References

  • Abarbanell, J. i B. Bushee. 1997. Fundamental analysis, future earnings, and stock prices. Journal of Accounting Research, Vol. 35, No 1, s. 1-24.
  • Aloke Ghosh Zhaoyang Gu Prem C. 2005. Jain Sustained Eamings and Revenue Growth, Earnings Quality, and Earnings Response Coefficients. Review of Accounting Studies, nr 10, s. 33-57.
  • Amihud, Y. i H. Mendelson. 1986. Asset Pricing and the Bid-Ask Spread. The Journal of Financial Economics, nr 17, s. 223-249.
  • Ball, R. i L. Shivakumar. 2004. Earnings quality in U.K. private firms. Working Paper, University of Chicago and London Business School.
  • Ball, R. i R. Watts. 1972. Same time series properties of accounting income. The Journal of Finance, nr 27, s. 663-682.
  • Balsam, S., Krishnan, J. i J.S. Yang. 2003. Auditor Industry Specialization and Earnings Quality, Auditing: A Journal of Practice & Theory, Vol. 22, Issue 2. s. 71-97.
  • Barth, M.E., Elliott, J.A. i M.A. Finn. 1999. Market Rewards Associated with Patterns of Increasing Earnings. Journal of Accounting Research, Vol. 37, No 2, s. 387-413.
  • Beneish, M.D. i M.E. Vargus. 2002. Insider Trading, Earnings Quality, and Accrual Mispricing. The Accounting Review, Vol. 77, lssue 4, s. 755-789.
  • Bellovary, J.L., Giacomino, D.E. i M.D. Awers. 2005. Earnings Quality: It's Time to Measure and Report. The CPA Journal, Nov 2005; 75, 11; ABI/INFORM Globar s. 32.
  • Bhattacharya, U., Daouk, H. i M. Welker. 2003. The world price of eamings opacity. The Accounting Review, Vol. 78, Issue 3, s. 641-678.
  • Botosan, C.A. i M.A. Plumlee. 2002. A Re-Examination of Disclosure Level and the Expected Cost of Equity Capital. Journal of Accounting Research, Vol. 40, No 1, s. 21-40.
  • Bricker, R., Previts, G., Robinson, T. i S. Young. 1995. Financial Analyst Assessment of Company Eamings Quality. Journal of Accounting, Auditing & Finance, nr 10, s. 541-554.
  • Brown, S. i S.A. Hillegeist. 2005. Disclosure Quality and Information Asymmetry. Working Paper, Emory University and Northwestern University.
  • Brzezin, W. 1998. Ogólna teoria rachunkowości, Warszawa: Wyższa Szkoła Handlu i Prawa.
  • Burgstahler, D. i I. Dichev. 1997. Earnings, adaptation and equity value. The Accounting Review. Vol. 72, Issue 2, s. 187-215.
  • Cheng, Q. 2002. Essays on the Residual Income Valuation Model. Unpublished dissertation, University of Wisconsin-Madison.
  • Copeland, R. M. 1968. Income smoothing. Journal of Accounting Research, Empirica] Research in Accounting, Selected Studies 6 (Supplement): 101.
  • DeFond, M., Hung, M. i R. Irezevant. 2004. Investor Protection and the Information Content of Annual Earnings Announcement: International Evidence. Working Paper, University of Southem California.
  • Dechow, P.M. i I.D. Dichev. 2002. The Quality of Accruals and Eamings: The Role of Accrual Estimation Errors. The Accounting Review, Vol. 77, Issue 4, s. 35.
  • Diamond, D.W i R.E. Verrecchia. 1991. Disclosure, liquidity, and the cost of capital. The Journal of Finance, Vol. 46, Issue 4, s. 1325-1359.
  • Easley, D. i M. O'Hara. 2004. Information and the cost of capital. The Journal of Finance, Vol. 59, Issue 4, s. 1553-1583.
  • Easley, D. i M. O'Hara. 1992. Time and the Process of Security Price Adjustment. The Journal of Finance, Vol. 47, Issue 2, s. 576-605.
  • Eccles, R.G., Herz, R.H., Keegan, E.M. i D.M.H. Phillips. 2001. The Value Reporting The Value Reporting Revolution -Moving Beyond the Eantings Game, Nowy York: John Wiley & Sons.
  • Fairfield, P.M. i T.L. Yohn. 2001. Using asset turnover and profit margin to forecast changes in profitability. Review of Accounting Studies, nr 6, s. 371-385.
  • Fairfield, P.M., Whisenant, J. i T.L. Yohn. 2002. Accrued Earnings and Growth: Implications for Future Profitability and Market Mispricing. The Accounting Review, Vol. 78, Issue 1, s. 353-371.
  • Francis, J., LaFond, R., Olsson, P. i K Schipper. 2003. Eamings Quality and the Pricing Effects of Earnings Patterns. Working paper, Duke University, University of Wisconsin and the FASB.
  • Francis, J., LaFond, R., Olsson, P. i K. Schipper. 2004. Costs of equity and earnings attributes. The Accounting Review, Vol. 79, Issue 4, s. 967-1010.
  • Freeman, R., Ohlson, J. i S. Penman. 1982. Book rate-of-return and prediction of earnings changes: an empirical investigation. Journal of Accounting Research, Vol. 20, No 2, s. 639-653.
  • Healy, P.M. i J.M. Wahlen. 1999. A review of the earnings management literature and its implications for standard Setting. Accountżng Horizons, Vol. 73, s. 368-383.
  • Holthausen, R. i R. Verrechia, 1988. The Effect of Sequential Information Releases on the Variance of Price Changcs in an Intertemporal Multi-Asset Market. Journal of Accounting Research, Vol. 26, No 1, s. 82-106.
  • Kormendi, R. i R. Lipe. 1987. Earnings Innovations, Earnings Persistence, and Stock Returns. Journal of Business, Vol. 60, Issue 3, s. 323-345.
  • Lang, M., Raedy, J.S. i M.H. Yetman. 2003. How Representative Are Firms That Are Cross-Listed in the United States? An Analysis of Accounting Quality. Journal of Accounting Research, Vol. 41, No 2, s. 363-386.
  • Lev, B. 1983. Some economic determinants of the time series properties of earnings. Journal of Accounting and Economics, nr 5, s. 31-48.
  • Lev, B. i R. Thiagarajan. 1993. Fundamental information analysis. Journal of Accounting Research, nr 31, s. 190-215.
  • Lundholm, R. i R. Sloan. 2004. Equity Valuation and Analysis with E-Val. Nowy York: McGraw-Hill Irvin.
  • Mikhail, M. B., Walther, B. R. i R. H. Willis. 2003. Reactions to Dividend Changes Conditional on Earnings Quality. Journal of Accounting, Auditing & Finance, nr 18„ s. 121-153.
  • Mohanram, P.S. 2004. Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis, unpublished, New York: Columbia Business School.
  • Myers, J. N., Myers, L. A. i T. C. Omer. 2003. Exploring the Term of the Auditor-Client Relationship and the Quality of Earnings: A Case for Mandatory Auditor Rotation? The Accounting Review, Vol. 78, Issue 3, s. 779-799.
  • Ou, J. i S. Penman. 1989. Accounting Measures, Price-Earnings Ratio and the Information Content of Security Prices. Journal of Accounting Research, Vol. 27 (Supplement), s. 111-43.
  • Penman, S. 2003. The Quality of Financial Statements: Perspectives from the Recent Stock Market Bubble. Accounting Horizons, Vol. 17 (Supplement ), s. 77-96.
  • Penman, S. 2004. Financial Statement Analysis and Security Valuation, Nowy York: The McGraw-Hill Companies.
  • Penman, S.H. i X.J. Zhang. 2002a. Accounting Conservatism, the Quality of Eearnings and Stock Returns. The Accounting Review, Vol. 77, Issue 2, s. 237-264.
  • Penman, S.H. i X.J. Zhang. 2002b. Modeling sustainable earnings and PIE ratios using financial statement information. Working Paper, Columbia University and University of Califomia-Berkeley.
  • Porter, M. 1980. Competitive Strategy Techniques for Analyzing Industry and Competitors. Nowy York: The Free press.
  • Porter, M. 1985. Competitive Advantage: Creating and Sustaining Superior Performance. Nowy York: The Free Press.
  • Rangan, S. i R.G. Sloan 1998. Implications of the Integral Approach to Quarterly Reporting for the Post Earnings-Announcement Drift. The Accounting Revżew, Vol. 73, Issue 3, s. 353-371.
  • Richardson, S. 2003. Earnings Quality and Short Sellers. Accounting Horizons, Vol. 17, s. 41-69.
  • Schipper, K. i L. Vincent. 2003. Earnings Quality. Accounting Horizons, Vol. 17 (Supplement), s. 97-110.
  • Solan, R.G. 1996. Do stock prices fully reflect information in accruals and cash flows about future earnings? The Accounting Review, Vol. 71, Issue 3, s. 289-315.
  • Stołowy, H i B. Breton. 2004. Accounts Manipulation: A Literature Review and Proposed Conceptual Framework. The Review of Accounting & Finance, Vol. 3, No 1, s. 5-69.
  • Surdykowska, S. 2004. Rachunkowość kreatywna a MSR/MSSF, w: Gmytrasiewicz M. i A. Karmańska (red.) Polska Szkoła Rachunkowości, Warszawa: SGH.
  • Welker, M. 1995. Disclosure Policy, Information Asymmetry, and Liquidity in Equity Markets. Contemporary Accounting Research, Vol. 11, Issue 2, s. 801-827.
  • Wilson, G. 1986. The relative information content of accruals and cash flows. Journal of Accounting Research, Vol. 24 (Supplement), s. 165-200.
  • Wilson, G. 1987. The incremental information content of the accrual and funds components earnings after controlling for earnings. The Accounting Review, Vol. 62, Issue 2, s. 293-322.

Document Type

Publication order reference

Identifiers

ISSN
1644-9584

YADDA identifier

bwmeta1.element.desklight-9b2b9b3a-74b1-4e6e-a847-18360d97382c
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.