بررسي انگيزه هاي مديريت سود در شركت هاي پذيرفته شده در بورس اوراق بهادار تهران ( مورد صنايع نفتي ، شيميايي و فلزي)

A Study of Earning Management Motives in Tehran stock exchange (The case of Petroleum - Chemical and Metal Industry)

This study outlines major differences between basic metals and mining industry groups and oil products and chemical industry in Tehran stock Exchange for earnings-management behavior. For this purpose, we focus on discretionary accruals as the proxy of earnings management. Our accrual model builds on an extended version of the modified Jones (M-J) model as a criterion for the diagnosis of earning management over the period 1381-1386. We tested our earnings management motives (EMM) model using appropriate panel-estimation techniques. Findings provide evidence that company size and debt contracts are stimulator in both the industry for earning management but small loss avoidance is only in the industry oil products and chemical products. In addition between the deviation of operational activities and earning management in two industry with a significant relationship was not found. Our results provide evidence that incentives for earnings management for basic metals and mining industry groups firms are specifically linked to firm size and contractual debt costs. However, oil products and chemical industry groups firms show specific incentives matched with a small loss avoidance.