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Benford's Law, which is the law of digit distributions, is widely applied to study fraud or bias in a data set. In this paper, we applied Benford's Law to examine the first digits of financial statement items of UK listed companies. The evidence shows that the first digits conform to Benford's...
Persistent link: https://www.econbiz.de/10012834507
Previous research suggests that share-financed acquirers inflate their earnings before merger and acquisition announcements. The existing literature also indicates that characteristics of chief executive officers (CEO) could affect earnings management. In this study, we extend prior studies by...
Persistent link: https://www.econbiz.de/10012930222
Using a customer-supplier matched sample of US-listed firms from 1980 to 2016, we study the corporate cash-holding relationship between suppliers and their major customers. The key findings suggest that the cash-holding levels of suppliers are positively affected by those of their major...
Persistent link: https://www.econbiz.de/10012839452
This paper introduces the PSCORE, which aggregates nine personal characteristics of chief executive officers (CEOs), to signal the quality of earnings. The PSCORE is a composite score based on publicly available data on CEOs. The study reports strong positive relationships between the PSCORE and...
Persistent link: https://www.econbiz.de/10012854865
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Hidden Markov model (HMM) is a statistical signal prediction model, which has been widely used to predict economic regimes and stock prices. In this paper, we introduce the application ofHMMin trading stocks (with S&P 500 index being an example) based on the stock price predictions. The...
Persistent link: https://www.econbiz.de/10011883487
Future stock prices depend on many internal and external factors that are not easy to evaluate. In this paper, we use the Hidden Markov Model, (HMM), to predict a daily stock price of three active trading stocks: Apple, Google, and Facebook, based on their historical data. We first use the...
Persistent link: https://www.econbiz.de/10011783757
Purpose - This research applies Benford’s Law to examine the earnings management of companies listed in emerging ASEAN-5 countries: Indonesia, Malaysia, Philippines, Thailand, and Vietnam.Design/methodology/approach - We follow Amiram et al. (2015) to measure deviations from Benford’s Law of...
Persistent link: https://www.econbiz.de/10014362026
Purpose: This study examines the relationship between audit partner tenure and earnings management of companies listed on Vietnamese stock exchanges.Design/methodology/approach: We use a sample 1,363 observations from 2016 to 2019. We manually collect data on audit partner tenure. Using...
Persistent link: https://www.econbiz.de/10014362027