A Bidirectional Analysis of Earnings Management and Corporate Social Responsibility: The Moderating Effect of Stakeholder and Investor Protection

被引：45

作者：

Martinez-Ferrero, Jennifer ^{[1
]}

Gallego-Alvarez, Isabel ^{[1
]}

Maria Garcia-Sanchez, Isabel ^{[1
]}

机构：

[1] Univ Salamanca, E-37008 Salamanca, Spain

来源：

AUSTRALIAN ACCOUNTING REVIEW | 2015年 / 25卷 / 04期

关键词：

PERFORMANCE; GOVERNANCE;

D O I：

10.1111/auar.12075

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The aim of this paper is to analyse the connection and possible bidirectional relationship between corporate social responsibility (CSR) and earnings management (EM). Furthermore, we identify the institutional factors moderating these relationships, such as stakeholder and investor protection. The use of the generalised method of moments estimator proposed by Arellano and Bond (1991) for an international sample of 1960 international listed non-financial companies from 26 countries for the period 2002 to 2010 highlights the existence of an inverse bidirectional relationship between CSR and EM through discretionary accruals. These relationships are especially important in countries where there is significant institutional pressure regarding CSR as a result of their greater stakeholder protection and also in countries with greater investor protection.

引用

页码：359 / 371

页数：13

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