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Different means of earnings management of owner-managed firms versus agent-led firms: Evidence from chaebols in Korea

Title
Different means of earnings management of owner-managed firms versus agent-led firms: Evidence from chaebols in Korea
Authors
Park S.
Ewha Authors
박소라
SCOPUS Author ID
박소라scopus
Issue Date
2016
Journal Title
Investment Management and Financial Innovations
ISSN
1810-4967JCR Link
Citation
vol. 13, no. 2, pp. 285 - 291
Keywords
ChaebolDiscretionary accrualsFamily firmReal-based earnings management
Publisher
LLC CPC Business Perspectives
Indexed
SCOPUS scopus
Abstract
This paper examines the earnings management behavior of large, family-controlled business groups (so-called 'chaebol') in Korea from 2006 to 2010. Specifically, the author studies whether the methods of earnings management are different between chaebol firms versus non-chaebol firms. The author finds no significant difference in accrualbased earnings management by these two types of firms. However, the author shows that chaebol firms' real-based earnings management is greater than non-chaebol firms, based on their higher abnormal production costs and lower abnormal discretionary expenses, in order to manipulate accounting income upward. The results suggest that ownermanaged firms tend to choose real manipulation which negatively affects future corporate performance and consequently mislead investors about the firm value. © Sorah Park, 2016.
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경영대학 > 경영학전공 > Journal papers
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