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Author
Durán-Vázquez Rocío (Universidad de las Américas Puebla, Mexico), Lorenzo-Valdés Arturo (Universidad de las Américas Puebla, Mexico), San Martín-Reyna Juan Manuel (Universidad de las Américas Puebla, Mexico)
Title
Relevance of Discrecionary Accruals in Ohlson Model: the Case of Mexico
Source
Journal of Entrepreneurship, Management and Innovation (JEMI), 2012, vol. 8, nr 3, s. 21-34, tab., bibliogr. 29 poz.
Issue title
Management and Financial Issues of Mexican Entrepreneurship
Keyword
Rynki finansowe, Modelowanie ekonometryczne
Financial markets, Econometric modeling
Note
streszcz., summ.
Country
Meksyk
Mexico
Abstract
Niniejsza praca stosuje zmodyfikowany model Jones'a (1991) wykorzystując dane finansowe wybranych firm meksykańskich. Celem modelu jest ocena wpływu Discretionary Accrual Information (DAI) na zawartość sprawozdań finansowych w celu identyfikacji wartości "jakości zysku". Praca stosuje kryteria metodologiczne zaproponowane w Chung et al (2005) i Mukit & Iskandar (2009). Autorzy poddali analizie finansowe dane 35 firm, których akcje występowały w indeksie cen i cytowań (IPC) na Mexican Stock Exchange (BMV) w okresie 2000 do 2011. 19 firm spełniło specyfikacje modelu biorąc pod uwagę dane kwartalne w okresie 12 lat będących przedmiotem rozważań. Analiza została przeprowadzona w trzech etapach: najpierw, analiza zmodyfikowanego modelu Jones'a na danych panelowych przy użyciu efektów stałych i modyfikacji wynikających z autokorelacji rzędu pierwszego; analiza korelacji pomiędzy wartościami rezydualnymi zmodyfikowanego modelu Jones'a i stopą zwrotu z akcji w trzech kolejnych latach analizy: 2007, 2008 i 2009; test modelu Ohlsona z użyciem zmiennej DAI, danych panelowych i efektów stałych w rozważanym horyzoncie czasowym. (abstrakt oryginalny)

This study applied the modified Jones´ model (1991) for selected companies of Mexico. This model aims to assess the impact of Discretionary Accrual Information (DAI) on financial reporting statements, in order to identify the value relevance of "earnings quality". We applied methodological criteria of Chung et al (2005) and Mukit & Iskandar (2009). We analyzed financial information of the 35 stock included in the Index of Prices and Quotations (IPC) of the Mexican Stock Exchange (BMV) for the period 2000 to 2011. 19 companies met the specifications of the model, for 48 quarters of information. The analysis was done in three parts: first, an analysis of the modified Jones´ model under panel data considerations by using fixed effects and adjustments of performing autocorrelation of order 1; second, a correlation analysis between the residuals of the modified Jones´ model and the return of stock price in 3 annual closings years of study: 2007, 2008 and 2009; and third, we incorporated this variable (DAI) in the Ohlson model (of the financial and corporate accounting literature) and we tested it with panel data analysis, under fixed effects, throughout the study period. (original abstract)
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Bibliography
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ISSN
2299-7075
Language
eng
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