5.4 Empirical findings on earnings

5.4 Empirical findings on earnings management and IFRS
Our last section presents the empirical finding the impact of IFRS adoption on earnings management behavior. In order to examine H4a and H4a we applied two different metrics of earnings manipulation. Our first test controls for earnings in net income (∆NI*) to the standard deviation of the change in cash flow (∆CF*) residuals during the pre and post-KFRS periods(Ahmed et al.,2010). The relevant results are presented in Table 6:
The empirical findings indicate the ratio of standard deviation of the change in net income (∆NI*)to the standard deviation of the change un cash flow (∆CF*) residuals, as well as the difference of this ratio between
T- statistics are in the parenthesis *,**,*** denotes significance at the
1%,5% and 10% significance level respectivery (two-tailed test). All models have been estimated including industry and year fixed effects. Vuong Z statistic is the likelihood ratio test developed by Vuong (1989) for non-nested model selection.A significant positive Z indicates that model 1a and 1b during the pre – IFRS period is rejected in favor of models 1a and 1b during the post –IFRS period.
Pit=α0+α1NIPSit+α2BVPSit +α3DVOLit+α4DVOLit*NIPSit +α5DVOLit*BVPSit
+βControlit + γ Year dummies+δIndustry dummies+εit
Pit=α0+α1NIPSit+α2BVPSit +α3DVOLit+α4DVOLit*NIPSit+α5DVOLit*BVPSit
+ α6AUDit +α7AUDit*NIPSIT+α5AUDit*BVPSit
+βControlit + γ Year dummies+δIndustry dummies+εit

ผลลัพธ์ (อังกฤษ) 2:

5.4 Empirical findings on earnings and IFRS Management
Section presents The Last Our empirical Finding The Impact of IFRS Adoption on earnings Management behavior. In order to examine H4a and H4a we applied two different metrics of earnings manipulation. Our first test controls for earnings in net income (ΔNI *) to the standard deviation of the change in cash flow (ΔCF *) residuals during the pre and post-KFRS periods (Ahmed et al., 2010). The relevant results are Presented in Table 6:
The empirical findings indicate The ratio of standard deviation of The Change in net income (ΔNI *) to The standard deviation of The Change un Cash Flow (ΔCF *) residuals, As Well As The. difference of this ratio between
T Statistics are in The Job *, **, *** denotes significance at The
1%, 5% and 10% significance Respectivery Level (Two-tailed test). All models have been estimated including industry and year fixed effects. Vuong Z statistic is the likelihood ratio test developed by Vuong (1989) for non-nested model selection.A significant positive Z indicates that model 1a and 1b during the pre - IFRS period is rejected in favor of models 1a and 1b during the post -. IFRS period.
Pit = Α0 + Α1NIPSit + Α2BVPSit + Α3DVOLit + Α4DVOLit * NIPSit + Α5DVOLit * BVPSit
+ ΒControlit + gamma Year dummies + ΔIndustry dummies + Εit
Pit = Α0 + Α1NIPSit + Α2BVPSit + Α3DVOLit + Α4DVOLit * NIPSit + Α5DVOLit * BVPSit
+ Α6AUDit. Α7AUDit NIPSIT + * + * BVPSit Α5AUDit
ΒControlit + gamma + Year + ΔIndustry dummies dummies + Εit.