عنوان انگلیسی مقاله:

Investigating the relationship between corporate social responsibility and earnings management: Evidence from Spain

ترجمه عنوان مقاله: بررسی رابطه بین مسئولیت اجتماعی شرکت و مدیریت سود: شواهدی از اسپانیا

رشته: مدیریت مالی و حسابداری

سال انتشار: 2016

تعداد صفحات مقاله انگلیسی: 11 صفحه

منبع: الزویر و ساینس دایرکت

نوع فایل: pdf

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چکیده مقاله

This article investigates the relationship between corporate social responsibility and  earnings management. Using panel data methodology for a sample of Spanish non-financial companies between 2005 and 2012, we find a negative impact of corporate social responsibility practices on earnings management. Corporate social responsibility is related to ethical and moral issues concerning corporate decision-making. Engaging in socially responsible activities not only improves stakeholder satisfaction, but also has a positive effect on corporate reputation The results show that corporate social responsibility practices may be an organizational device that leads to more effective use of resources, which then has a negative impact on earnings management practices.

KEYWORDS: Corporate social, responsibility; Discretionary accruals; Earnings management

مقدمه انگلیسی مقاله

IntroductionEarnings management has recently received considerableattention both from regulators and the popular press. Earn-ings management can be defined as the alteration of firms’reported economics performance by insiders to either mis-lead some stakeholders or to influence contractual outcomes (Healy and Wahlen, 1999; Leuz et al., 2003). Managersmay be inclined to manage earnings due to the existenceof explicit and implicit contracts, the firm’s relation withcapital markets, the need for external financing, the polit-ical and regulatory environment or several other specificcircumstances (Vander Bauwhede, 2001). These deliberatemanagerial actions, contrived to disguise the real valueof a firm’s assets, transactions, or financial position, havenegative consequences for shareholders, employees, thecommunities in which firms work, society at large, and man-agers’ reputations, job security and careers (Zahra et al.,2005).

Accounting earnings are more reliable and more infor-mative when managers’ opportunistic behavior is controlledthrough a variety of monitoring systems (Dechow et al.,1996). After several recent financial scandals, there hasbeen an international trend toward developing and imple-menting corporate governance mechanisms to fight againstthe opportunistic behaviors that have undermined investors’credibility in financial information. Corporate governanceattributes help investors by aligning the interests of man-agers with the interests of shareholders and by enhancingthe reliability of financial information and the integrityof the financial reporting process (Watts and Zimmerman,1986).Decades of empirical research have focused on the fac-tors influencing the quality of earnings, specifically theaccruals. However, there is also increasing attention beingpaid to the managerial activities which can lead to themanipulation of earnings. Previous studies document mixedresults regarding the association between corporate socialresponsibility (CSR) and transparent financial reporting. Inthis article, we examine the relationship between CSR andearnings quality by using Spanish firms from 2005 to 2012.The earnings quality is measured by using the absolute valueof abnormal discretionary accruals from the modified Jonesmodel.

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