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1-(Castro&Martinez,2011)
The smoothing Hypothesis, Stock et!rns an" isk in #razi$%
The p!rpose o& this st!"y to kno' the e(tent o& the )eha*ior pa*e
income in p!)$ic shareho$"ing companies in #razi$, an" +n" o!t
'hether there is a corre$ation )et'een the "egree o& )oota)$e
income an" the $e*e$ o& risk, an" ret!rn on e,!ity an" the size o&
the company, an" the app$ication o& mo"e$ -cke$ (1./1) 'ere
se$ecte" companies pa*e" companies non-smoothe" in a samp$e
o& 101 companies $iste" in the #razi$ market &or the perio"
)et'een 1../-2001, an" the st!"y &o!n" a re$ationship )et'een
risk an" income !n!s!a$, an" the size o& the company an" the
phenomenon o& )ooting income, 'ith an increasing rate o& ret!rn
an" $ess risk, an" $ess *o$!me in the companies pa*e" reporte" in
!npa*e" companies2
2-(3hma" &Mansor,200.)
#oar" in"epen"ence ,o'nership str!ct!re ,a!"it ,!a$ity an"
income smoothing acti*ities4 st!"y on Ma$aysian market%
3"" this st!"y ne' &actors re$ate" companies go*ernance an"
o'nership str!ct!re, a!"it ,!a$ity, an" these &actors are5 the
proportion o& non-e(ec!ti*e "irectors, "!p$ication management
rem!neration type o& the e(terna$ a!"itor an" the )ran" an"
Chinese companies contro$ an" management o& instit!tiona$
o'nership o& the company2
6hich e(amine" the &actors that in7!ence to pa*e the
phenomenon income in p!)$ic shareho$"ing companies in
Singapore
3pp$ying the mo"e$ -cke$ (1./1) on a samp$e o& 181 o& the
9Type te(t: ;age 1
companies $iste" on the Ma$aysian market &or the perio" 1..1-
2000 the company 'as "i*i"e" into pa*e" an" !npa*e"2
The st!"y &o!n" that the ne' practices go*ernance companies,
s!ch as the presence o& e(ec!ti*es on the )oar" an" the
separation )et'een the &!nctions o& the #oar" o& <irectors an"
Chie& -(ec!ti*e =>cer as 'e$$ as the appointment o& e(terna$
a!"itors an" )ran" a!"iting +rm, has no e?ect on the pa*e-
income pre*ai$ing in companies2 6as the presence o& non-
e(ec!ti*e "irectors an" )ran" the a!"itors ha*e a signi+cant
impact on practices pa*e the "isa)i$ity income
@- (So!ichi Mats!ra, 200/)
on The e$ation #et'een ea$ -arning Management an"
acco!nting earning management 5income smoothing ;erspecti*e