The Effect of Market Cycles on Investor's Reaction to Discretionary Accrual's Changes
سال انتشار: 1387
نوع سند: مقاله ژورنالی
زبان: فارسی
مشاهده: 118
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شناسه ملی سند علمی:
JR_DANESH-15-25_003
تاریخ نمایه سازی: 25 خرداد 1401
چکیده مقاله:
Managers use earning management to show the profitability growing in a way that causes the output increase. one of the most important tools for this is discretionary accrual. Studies about earning management show that the managers use the opportunities to manage the exact earning. The aim of this research is to study the effect of market cycles on investor's reaction to discretionary accrual's changes. Related to the information of ۱۳۸۰-۱۳۸۳ three market cycles were identified: optimistic, neutral and pessimistic. Investor's reaction to the discretionary accrual changes in a sample of ۶۶ firms is investigated. Results present that investors in our country don't pay attention to the information statements and earning management can't be an obstacle in investing way. And also market situation and existence of professional and amature investors won't affect it.