測量與盈余管理動機一個批判的視角【外文翻譯】_第1頁
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1、1外文文獻翻譯外文文獻翻譯原文：MeasurementMotivationsofEarningsManagement:ACriticalPerspectiveIII.MOTIVATIONFEARNINGSMANAGEMENTInthewakeofEnronothersimilarcasesresearchershavebecomemeinterestedinstudyingthemotivationsthatdrivefirmstoma

2、nagetheirreptedearnings.Managershavedifferentincentivestomanipulatereptedearnings.Theymaysmoothearningstosignalinfmationaboutfutureprospectstooutsiderstheymayuseaccountingitemsthataresubjecttotheirdiscretionopptunistical

3、lyefficiently.Abroaddiscussionaboutallsituationsthatmightdrivemanagerstomanipulateearningsispresentednext.Basedonthatajudgementcanbededucedastowhetherearningsmanipulationscouldincreasethequalityofearnings.Inthispaperthed

4、ifferentmotivationsfmanagerialaccountingchoicesaregroupedintofivecategies:(1)motivationstosmoothearnings(2)motivationstoreducetaxexpenses(3)motivationsfromcontractualperspectives(4)motivationstoreducepoliticalcosts(5)mot

5、ivationscomingfrommanagementchanges.MotivationstoSmoothEarningsAlargenumberofstudieshaveconsideredincomesmoothingasanefficientwaytoreflectagoodpictureaboutthefirm’sfutureincomeflowstoinvests.Hepwth(1953)anearliercontribu

6、texplainsthatmanagersmaysmoothearningstoreducethefirm’searningsfluctuationovertimeratherthantoincreasereptedincome.FollowingthesameargumentGdon(1964)establishestheincomesmoothinghypothesisconsidersitasagoodtooltoestimate

7、futureincomeflowsthroughenhancingtheusefulnessofaccountinginfmation.Hisstudyisconsideredtobethefirststeptowardsfmalincomesmoothingresearchwhichhassoughttofocusontherealmotivationsthatleadmanagerstosmoothingactions.Subram

8、anyam(1996)Chaneyetal.(1996)arguethatsmoothearningswouldleadtoanimprovementin3AmericanInstituteofCertifiedPublicAccountswhichstatesthat“Anobjectiveoffinancialstatementsistoprovideusefulinfmationtoinvestscreditsinpredicti

9、ngcomparingevaluatingpotentialcashflows.....”O(jiān)neoftheobjectivesoffinancialstatementsistohelpinvestsinmakingtheirpredictions.Theseassessmentsrelymostlyonincome.Thiswouldhelpmanagerstosendpositiveinfmationaboutfutureearnin

10、gstooutsiders.Subramanyamsstudy(1996)focusesontheautocrelationscrosscrelationbetweenthelevelsofcurrentfutureincomeoperatingcashflowsnondiscretionaryincome.Theresultsprovideevidencethattheoperatingcashflowsnondiscretionar

11、yincomearelesscrelatedwithfutureincomethancurrentincome.Howeveringeneralahighcrelationisevidentbetweenfuturelevelsofincomecurrentlevelsofincomecashflowsnondiscretionaryincome.MotivationfEarningsManagementTaxationOneofthe

12、mostinfluentialmotivationsfmanagerstomanipulateearningsisincometaxation.Thegamebetweenthetaxauthityfirmsisanancientone.Asthetaxauthitysetsupanewdefencetoplugthegapsfirmsadjusttheirstrategytrytoopenupanewholetakeadvantage

13、sofexistingonestomanipulateearnings.Theseadvantagesaretakenbymanagerswhosimplyaccountingmethodchoicesthatdecreasetheexpectedpresentvalueoftaxpayments.Oneoftheaccountingmethodchoicesthathasbeenmostusedfsuchpurposesisthein

14、ventycostingmethod(especiallyFIFOLIFO).FexamplewhenmanagersLIFOFIFOthismayresultinchangesinafirm’scashflowasaresultoftheeffectofsuchinventycostmethodsontaxableearnings.FirmsusuallyuseFIFOwhenpricesgouptoincreaseincomerep

15、tingwhichwillleadtoincreasetaxesdecreasecashflows.HoweverinthiscaseLIFOmightbeusedtodecreasereptedincomewhichresultsinadecreaseintaxesanincreaseincashflow.Sothetaxincentivetomaximisethefirm’svalueisaprimarymotivethataffe

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