آراستگی منفعت طلبانه ارقام سود (زیان) و بدهی با تاکید بر نقش نظام راهبری شرکتی

این پژوهش، به بررسی آراستگی منفعت طلبانه ارقام سود و بدهی و اثر نظام راهبری شرکتی بر روی آن می‌پردازد. به‌منظور سنجش آراستگی روبه بالای سود و روبه ‌پایین زیان و بدهی از شیوه‌ای به نام قاعده بنفورد (1938) استفاده‌شده است. نظام راهبری شرکتی نیز با استفاده از یک شاخص تجمیعی با استفاده از معیارهای استقلال هیئت‌مدیره، سهامداران نهادی، تمرکز مالکیت و نوع حسابرس سنجیده شد. در این راستا داده‌های 155 شرکت پذیرفته‌شده در بورس اوراق بهادار تهران برای دوره 1387 الی 1397 آزمون شده است. برای بررسی و مقایسه توزیع واقعی اعداد سود (زیان) و بدهی با توزیع مورد انتظار(بنفورد)، از روش آزمون z استاندارد، توزیع کای مربع و همچنین آزمون وی کرامر، استفاده شد. نتایج نشان داد مدیران ارقام سود را برای بهره‌‌مندی از واکنش‌‌های روانی استفاده‌کنندگان، به‌صورت معناداری به سمت بالا می‌آرایند؛ این در حالیست که چنین قاعده‌ای در خصوص ارقام زیان و بدهی برقرار نیست و این ارقام از سوی مدیران آراسته نمی شوند. بعلاوه، نتایج پژوهش حاکی از آن است که نظام راهبری شرکت توان مدیران را در آراستگی مبالغ سود (زیان) و بدهی کاهش نمی دهد.

Cosmetic Earnings (Losses) and Debt Management with Emphasis on Corporate Governance Role

Journal of Accounting Advances, (2020) 12(1): 127DOI: 10.22099/JAA.2020.35676.1959     Journal of Accounting Advances (JAA)Journal homepage: www.jaa.shirazu.ac.ir/?lang=en       Cosmetic Earnings (Losses) and debt Management with Emphasis on Corporate Governance RoleHamideh Asnaashari1, Mohammad Hossein Safarzadeh2,Hossein Rezaei Namavar3  Assistant Professor of Accounting, Shahid Beheshti University, Tehran, Iran.Assistant Professor of Accounting, Shahid Beheshti University, Tehran, Iran, hosein470@gmail.comM.A. of Accounting, Shahid Beheshti University, Tehran, Iran.      ARTICLE INF  ABSTRACT     Received: 20201010Accepted: 20201118   This study examines the Cosmetic earnings and debt management and the effect of Corporate Governance on them. Our approach to investigate the cosmetic earnings upward and debts downward is based on “Benford’s Law”. To evaluate Corporate governance we used 4 variables: percentage of nonExecutive managers, percentage of institutional shareholders, concentration of ownership, auditor type and an aggregate index.  With regard to this, we tested the data gathered from 145 firms listed in Tehran’s Stock Exchange (TSE) from 2009 to 2009. Normal Z test, Chisquared distribution and Cramer V test are used to examine and compare actual distribution numbers of earnings (loss) and debts with expected distribution (Benford’s). Results show that managers manipulate the second digits of earnings upward. Nonetheless, this is not the case of losses and debts. Furthermore, the findings show that corporate governance does not diminish the managers’ opportunity in manipulating the digits of earnings (losses) and debts.     * Corresponding author:Mohammad Hossein Safarzadeh Assistant Professor of Accounting, Shahid Beheshti University, Tehran, Iran Email: hosein470@gmail.com     1 IntroductionEarnings management is an essential issue in accounting and auditing for financial researchers, auditors and analyzers. The phenomenon of cosmetic earnings (loss) and debt management is considered as a kind of deception and important fraudulent activity done by the managers to draw the shareholders’ attention to the initial figures of earnings (loss) and debt. Cosmetic earnings and debt management provides a relatively more suitable perspective for the users than the time when it does not happen. This type of earnings management will mislead the users in their decisions and encourages the fraudulent thinking in the company.  Previous studies showed that legal protections including corporate governance may reduce the managers’ desire for arranging the financial statements, considerably.    2 Research PurposeThe goal of this study is surveying the Cosmetic earnings and debt management and the effect of Corporate Governance on them. 3 Methods and ResultsTo measure the cosmetic upward earnings and downward loss and debt management, Benford’s Law has been applied. The corporate governance system was also measured using a cumulative index and making use of board independence criteria, institutional shareholders, concentration of ownership and the type of auditor. The data were gathered from 145 firms listed on Tehran’s Stock Exchange (TSE) between 2009 and 2019. To examine and compare the actual distribution of profit (loss) and debt statement with the expected Benford’s distribution, the standard Ztest, Chisquare distribution and Cramér’s Vtest were utilized. The results indicated that managers arrange the earnings figures significantly upward in order to benefit from the users’ psychological responses; while such a rule is not true about the loss and debt figures and they are not arranged by the managers. Furthermore, the findings of the study show that the company’s corporate governance will not decrease the managers’ power in arranging the earnings (loss) and debt.