Κατεύθυνση ΛογιστικήΒιβλιοθήκη Τμήματος Οικονομικών Επιστημών και Τμήματος Διοίκησης Επιχειρήσεων και Οργανισμών
Ναούμ Βασίλειος, Επίκουρος Καθηγητής ,Τμήμα Οικονομικών Επιστημών, ΕΚΠΑ
Η χειραγώγηση των κερδών και η επίδραση της οικονομικής κρίσης. Η περίπτωση της Ελλάδας.
Earnings management and the impact of the financial crisis. The case of Greece.
The aim of this dissertation was to investigate the intensity and the level of real earnings management activities before and during the economic crisis (2005 – 2009 and 2010 – 2015 respectively) in Greece. More specifically, it was studied whether the companies listed on the Hellenic Stock Exchange during the period 2005 – 2015 manipulated their profits and whether the level of manipulation was affected by the economic crisis. This study intends to explain the impact of changing in economic conditions, enriching the existing literature. The effect of the quality of earnings was examined in order to determine the manipulation of results in the empirical analysis. To ascertain the manipulation of the accounting result, the study was based on two indicators, one of which refers to the smoothness of net balance and the other one to the accrual – based earnings management. It was, also, determined the statistical significance of the differences in the mean values of the indices between the periods before and during the crisis. The sample included all companies listed in the Greek capital market, except for the banking sector, financial services, insurance companies and the real estate sector. The conclusion of the present study is that the earnings management in Greece was maintained at the same level during the economic crisis, while reducing the quality of ﬁnancial reporting of companies and altering their actual financial performance.
Main subject category:
Social, Political and Economic sciences
earnings management, manipulation, accruals, Greece, crisis