اثر ممارسة ادارة الارباح علي اسعار الاسهم The Effect of Earning Management on Stock Prices (An Empirical Study on Industrial public share holding companies Listed in Amman Stock Exchange)

اللوزي, خالد (2013) اثر ممارسة ادارة الارباح علي اسعار الاسهم The Effect of Earning Management on Stock Prices (An Empirical Study on Industrial public share holding companies Listed in Amman Stock Exchange). Masters thesis, جامعة الشرق الاوسط.

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Abstract

This study aims at analyzing earnings management in industrial companies listed in ASE and its impact on the share price of these companies in the financial market, the study shows the concept of earnings management and the models used to detect these earnings. Management ethical justification is used to influence the stock prices in the Industrial Corporations listed on Amman Stock Exchange. The study also shows the effect of some comunsurate variables with earnings management in their impact on stock prices in contributing to industrial companies listed on the ASE, such as the size of the company the size of the Audit Office, and debt ratio. The researcher used the descriptive analytical method which is based on describing the characteristics of a particular phenomenon and collect information about it was through a case study, the descriptive analytical method is used by referring to various documents such as books, magazines and other materials aiming to reach research objectives. historical records were used to review previous studies. The nature of the study is causal study where the problem of the study predominately total analytical variables that affect stock returns. The study population consisted of industrial companies listed on the Amman Stock Exchange 77 companies by business directory for the year 2011 and their financial reports were available for the term determined from 2008-2011.Industrial was chosen due to its importance the national economy, and this sector enjoys the properties related to the availability of great opportunities in front of senior management to manage earnings Some accounting standards give the company's management several alternatives to deal with the same item with great flexibility. random sample was chosen as a representative of the study population. The researcher reached the following results : س - The average closing prices of the Jordanian industrial companies reached J.D.3.25 in 2008, and in increased levels of closing stock prices to reach up to J.D. 4.30, and then resumed their closing prices decline slightly to settle in 2010-2011, at an average of J.D. 4.00. - The general average of discretionary Accruals for the year 2008 was close to 29%, and rose to the level of 29.5% in 2009, to fall in 2010 to just fewer than 28%, while in 2011, we have reached a voluntary dues averages 27.5%. In general, we find that there is a convergence between the rates on different years. - The size of indebtedness of industrial companies in Jordan during the years 2008-2009 was close, debt ratios are rose sharply in 2010 with an average height of nearly J.D.4 million, while in 2011 debt ratios decreased to reach 15 million Jordanian dinars. - 10.7% of the auditing offices have been classified as large, and 89.3% are classified as small. The researcher recommends the following: - The need to expand the application of earnings management at all the industrial companies, to link the financial performance of companies. - The importance of the expertise of the big audit firms to link the appropriate application to manage earnings. - Recent studies on the impact of earnings management on the reservation policy variables. - Work on providing professional advice to Industrial companies based on scientific and methodological basis for the effective application of earnings management.

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