دانلود رایگان مقاله کیفیت حسابداری و عدم تقارن اطلاعات شرکت های سرمایه گذاری مستقیم خارجی

عنوان فارسی
کیفیت حسابداری و عدم تقارن اطلاعات شرکت های سرمایه گذاری مستقیم خارجی
عنوان انگلیسی
Accounting quality and information asymmetry of foreign direct investment firms
صفحات مقاله فارسی
0
صفحات مقاله انگلیسی
22
سال انتشار
2017
نشریه
الزویر - Elsevier
فرمت مقاله انگلیسی
PDF
کد محصول
E5599
رشته های مرتبط با این مقاله
حسابداری
گرایش های مرتبط با این مقاله
حسابداری مالی
مجله
تحقیق در امور بین الملل و امور مالی - Research in International Business and Finance
دانشگاه
Department of International Business Administration Wenzao Ursuline University of Languages - Taiwan
کلمات کلیدی
مدیریت درآمد، خطر فردی، سرمایه گذاری مستقیم خارجی، مالکیت مدیریتی
چکیده

Abstract


This study argues that the foreign direct investment firms mislead stakeholders and are associated with greater information asymmetry due to the raised agency problem. Results show that both earnings management and idiosyncratic volatility increase with foreign investment. Managerial ownership mitigates such inefficiency.

نتیجه گیری

6. Conclusion


FDIs are a key feature of the modern internationalized world. They produce benefits but increase agency costs. Accordingly, this study argues that FDIs exacerbate accounting information quality and worsen information asymmetry. The findings of this study are currently relevant because FDIs are markedly expanding and are critical because shareholder protection is receiving a lot of attention in the most recent decades.


Using data from Taiwan, this study applies a panel regression analysis with GMM and White’s estimation method to show that earnings management and information asymmetry increase with the amount of foreign investment. Low accounting quality and information asymmetry reduce stock pricing efficiency. However, managerial ownership mitigates earnings management and information asymmetry.


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