Asymmetric Timeliness of Earnings, Market-To-Book and Conservatism in Financial Reporting in Kazakhstan

• 발행기관: 한국유통과학회
• 저자명: Aizhan Baimukhamedova Yelena Konovalova Rashid Makarov Gulzada S. Baimukhamedova
• 간행물 정보: 『KODISA ICBE (International Conference on Business and Economics)』2017 International Conference on Business and Economics (ICBE 2017), 183~185쪽, 전체 3쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2017.07.06

영문 초록

Abstract should stand alone, means that no citation in abstract. The abstract should concisely This study extends the theoretical framework developed by Roychowdhury and Watts (2007) by testing it on a sample of Kazakhstani companies and aims at investigating changes in relations between two measures of conservatism: asymmetric timeliness of earnings (AT) and the market-to-book ratio (MTB) over short and long periods. On the contrary to the recent studies that document negative relations between these two measures, we reveal that magnitudes of earnings response to good and bad news increase for cumulation over longer periods. Second, we observe positive relations between earnings response to good news and MTB at the beginning and end of the estimation period. Even though the authors of the framework have not found any support for positive relations on any combination of news and MTB, our results support their initial expectations about positive association between asymmetric timeliness and MTB. Interestingly, our findings document absence of conservatism for certain lengths of cumulation period which can be attributed to peculiarities of financial reporting system on Kazakhstani Stock Exchange.

목차

Abstract

1. Introduction

2. Research Proposal

References

키워드

Conservatism Market-to-Book Ratio Equity Market Market Capitalization Kazakhstan