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The political cost hypothesis complements the agency theory and illustrates that SOEs’ managers would manipulate accounting numbers in response to government intervention (report conservatively to disguise the profits or report aggressively to meet specific thresholds).In addition, it tests whether analysts' forecasts are more accurate than forecasts based on time-series predicted statistics with random walk.To fully capture the earnings attributes, the second study investigates the quality of reported earnings in China from the perspective of both accounting-based (including accrual quality, persistence, predictability and smoothness) and market-based earnings attributes (including value relevance, timeliness, and conservatism and earnings response coefficient).
Initially, the corporation was started to serve the Chinese manufacturers and the overseas buyers.
The platform was only allowed business-to-business interactions.
The corporation has created different opportunities for many clients who have benefited largely from its services.
However, the corporation has had several mistreatments of its clients that have almost pushed them away.
According to financial distress theory, the incentives for Non-SOEs to manipulate earnings are stronger than in SOEs, since SOEs have the advantage to receive financial subsidies from government while Non-SOEs face more financing constraints.
The agency theory, however, argues that state ownership in SOEs creates incentives and regulatory backing for self-serving purposes, thus motivating SOEs to manipulate accounting numbers.Moreover, SOEs manipulate downwards the earnings much more than Non-SOEs, manifesting the government generally expropriate the benefits of SOEs, according to the political cost hypothesis.One interesting finding in second study is that predicted earnings based on the time-series statistical model with drift are more accurate than the consensus analyst forecast.This means that the company provides healthy social interactions between its business partners.Its platform has by-benefits other than sales services.The corporation was founded in 1999 by Jack Ma who created the website (Leng 43).The business premises of the corporation initially were in Jack Ma’s apartment.A very interesting story lies behind the name Alibaba that Jack Ma decided to give to the corporation.The decision to name it Alibaba was inspired by the prominent businessman, Alibaba.The objective of this thesis is to investigate accounting information reliability and corporate governance by addressing three predominant empirical research questions in three studies.The first study examines the impact of board composition and independence on earnings management in mainland China through investigating whether independent directors and supervisors are effective at restraining earnings management.