Do Institutional Investors Enhance Accounting Earnings Attributes in the Korean Market?

被引：2

作者：

Chung, Chune Young ^{[1
]}

Kim, Donghyun ^{[2
]}

Kim, Kyung Soon ^{[3
]}

Lee, Jin Hwon ^{[4
]}

Lee, Kyungjin ^{[5
]}

机构：

[1] Chung Ang Univ, Coll Business & Econ, Sch Business Adm, Seoul, South Korea

[2] Univ Wisconsin, Lubar Sch Business, Milwaukee, WI 53201 USA

[3] Chosun Univ, Coll Business, Div Business Adm, 309 Pilmun Daero, Gwangju 501759, South Korea

[4] Osan Univ, Dept Business Management, Osan Si, Gyeonggi Do, South Korea

[5] Chosun Univ, Grad Sch Business Adm, Gwangju, South Korea

来源：

EMERGING MARKETS FINANCE AND TRADE | 2019年 / 55卷 / 01期

关键词：

earnings management; earnings timeliness; institutional investor; market condition; monitoring effectiveness; G12; G14; G34; M41; FIRM CHARACTERISTICS; OWNERSHIP; EQUITY; MANAGEMENT; INFORMATION; PERFORMANCE; INVESTMENT; ACCRUALS; QUALITY; COSTS;

D O I：

10.1080/1540496X.2018.1503081

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This study examines whether the effectiveness of institutional monitoring depends on the economic conditions of emerging capital markets. We use trading volume data by investor type to compute a proxy for total institutional ownership. We then analyze the impact of the proxy variable on accounting earnings attributes and examine whether the association between the two depends on an expectation of market growth. We find that the effect of institutional monitoring decreases when market growth is expected to be low, implying that market growth may be a critical determinant of institutional investors' long-term monitoring effectiveness in emerging capital markets.

引用

页码：39 / 58

页数：20

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