Corporate governance and earnings management struggles: responses to adapt a modern capital mobilisation in the transitional economy

References

• Abbott, L. J., Parker, S., & Peters, G. F. (2006). Earnings management, litigation risk, and asymmetric audit fee responses. Journal of Practice & Theory, 25(4), 85–19. http://doi.org/10.2308/aud.2006.25.1.85
   Google Scholar
• Aggarwal, R., Klapper, L., & Wysocki, P. D. (2005). Portfolio preferences of foreign institutional investors. Journal of Banking & Finance, 29(12), 2919–2946. http://doi.org/10.1016/j.jbankfin.2004.09.008
   Web of Science ®Google Scholar
• Akerlof, G. (1970). The market for lemons: Quality uncertainty and the market mechanism. The Quarterly Journal of Economics, 84(3), 488–500. https://doi.org/10.2307/1879431
   Web of Science ®Google Scholar
• Al-Azeez, H. A. R., Sukoharsono, E. G., Roekhudin, & Andayani, W. (2019). The impact of board characteristics on earnings management in the international oil and gas corporations. Academy of Accounting and Financial Studies Journal, 23(1), 1–26.
   Google Scholar
• Alves, S. (2012). Ownership structure and earnings management: Evidence from Portugal. Australasian Accounting, Business and Finance Journal, 6(1), 57–74.
   Google Scholar
• An, Y. (2015). Does foreign ownership increase financial reporting quality? Asian Academy of Management Journal, 20(2), 81–101.
   Web of Science ®Google Scholar
• ASEAN Capital Market Forum (ACMF) (2017), The ASEAN corporate governance scorecard, https://www.theacmf.org/initiatives/corporate-governance/the-asean-corporate-governance-scorecard Accessed 9th Jan 2021
   Google Scholar
• Bamahros, Wan-Hussin, Bamahros, H. M., & Wan-Hussin, W. N. (2015). Types of institutional ownership and earnings management in Malaysia. Advanced Science Letters, 21(6), 2004–2008. https://doi.org/10.1166/asl.2015.6185
   Google Scholar
• Beasley, M. S. (1996). An empirical analysis of the relation between the board of director composition and financial statement frauds. The Accounting Review, 71(4), 443–465.
   Web of Science ®Google Scholar
• Berglöf, E., & Von Thadden, E. (1999). The changing corporate governance paradigm: Implications for transition and developing countries. SITE Paper no. 934, Stockholm School of Economics.
   Google Scholar
• Berle, A. A., & Means, G. C. (1932). The modern corporation and private property. Harcourt, Brace and World, New York.
   Google Scholar
• Bui Thi Thuy. (2015). The roles of independent board members in Joint-stock companies. Banking Sciences and Training Review, 163, 2–9.
   Google Scholar
• Cadbury Report (1992), Report of the committee on the financial aspects of corporate
   Google Scholar
• Campos, C. E., Newell, R. E., & Wilson, G. (2002). Corporate governance develops in emerging markets. McKinsey on Finance, 3, 15–18.
   Google Scholar
• Charfeddine, L., Riahi, R., & Omri, A. (2013). The determinants of earnings management in developing countries: A study in the Tunisian context. The IUP Journal of Corporate Governance, 12(1).
   Google Scholar
• Chen, G., Firth, M., Gao, D., & Rui, O. (2006). Ownership structure, corporate governance, and fraud: Evidence from China. Journal of Corporate Finance, 12(3), 424–448. https://doi.org/10.1016/j.jcorpfin.2005.09.002
   Web of Science ®Google Scholar
• Chen, X., Lee, C. W. J., & Li, J. (2008). Government assisted earnings management in China. Journal of Accounting and Public Policy, 27(3), 262–274. https://doi.org/10.1016/j.jaccpubpol.2008.02.005
   Web of Science ®Google Scholar
• Cohen, D. A., & Zarowin, P. (2008). Accrual-Based and real earnings management activities around season equity offerings. https://doi.org/10.2139/ssrn.1081939
   Google Scholar
• Corporation Law No. 59/2020/QH14 (2020).
   Google Scholar
• Corporation Law No.68/2014/QH13. (2014). Vietnam.
   Google Scholar
• Crotty, J., & Jobome, G. (2004). Corporate governance in transition economies: a synthesis of the evidence. Research Paper RP0402, Aston Business School, Birmingham.
   Google Scholar
• Dao, T. T. B., & Ngo, H. A. (2020). Impact of corporate governance on firm performance and earnings management: A study on Vietnamese non-financial companies. Asian Economic and Financial Review, 10(5), 480–501. https://doi.org/10.18488/journal.aefr.2020.105.480.501
   Google Scholar
• Defond, M. L., & Jiambalvo, J. (1994). Debt covenant violation and manipulation of accruals. Journal of Accounting and Economics, 17(1–2), 145–176. https://doi.org/10.1016/0165-4101(94)90008-6
   Web of Science ®Google Scholar
• Dichev, I. D., & Skinner, D. J. (2002). Large-sample evidence on the debt covenant hypothesis. Journal of Accounting Research, 40(4), 1091–1123. https://doi.org/10.1111/1475-679X.00083
   Web of Science ®Google Scholar
• Fan, Z., Radhakrishnan, S., & Zhang, Y. (2021). Corporate governance and earnings management: evidence from shareholder proposals. Contemporary Accounting Research, 38(2), 1434–1464. https://doi.org/10.1111/1911-3846.12640
   Web of Science ®Google Scholar
• Fathi, J. (2013). The determinants of quality of financial information disclosed by French listed companies. Mediterranean Journal of Social Sciences, 4(2), 319–331.
   Google Scholar
• Guo, F., & Ma, S. (2015). Ownership characteristics and earnings management in China. The Chinese Economy: Translation and Studies, 48(5), 372–395. https://doi.org/10.1080/10971475.2015.1067086
   Web of Science ®Google Scholar
• Healy, P. M. (1985). The effect of bonus schemes on accounting decisions. Journal of Accounting and Economics, 7(1–3), 85–107. https://doi.org/10.1016/0165-4101(85)90029-1
   Web of Science ®Google Scholar
• Healy, P. M., & Wahlen, J. M. (1999). A review of the earnings management literature and its implications for standard setting. Accounting Horizons, 13(4), 365–384. https://doi.org/10.2308/acch.1999.13.4.365
   Google Scholar
• Hirshleifer, D. (1993). Managerial reputation and corporate investment decisions. Financial Management, 22(2), 145–160. https://doi.org/10.2307/3665866
   Web of Science ®Google Scholar
• IFC-SSC (2010), Corporate governance manual, project between international finance corporation and state securities commission of Vietnam
   Google Scholar
• Jensen, M. C., & Meckling, W. (1976). Theory of the firm: Managerial behavior agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–370. https://doi.org/10.1016/0304-405X(76)90026-X
   Web of Science ®Google Scholar
• Jensen, M. (1993). The modern industrial revolution, exit, and the failure of internal control systems. The Journal of Finance, 48(3), 831–880. https://doi.org/10.1111/j.1540-6261.1993.tb04022.x
   Web of Science ®Google Scholar
• Jiang, F., & Kim, A. K. (2020). Corporate governance in China: a survey. Review of Finance, 24(4), 733–772. https://doi.org/10.1093/rof/rfaa012
   Web of Science ®Google Scholar
• Johari, N. H., Saleh, N. M., Jaffar, R., & Hassan, M. S. (2008). The influence of board independence, competency and ownership on earnings management in Malaysia. Journal of Economics and Management, 2(2), 281–306.
   Google Scholar
• Jones, J. (1991). Earnings management during import relief investigations. Journal of Accounting Research, 29(2), 193–228. https://doi.org/10.2307/2491047
   Web of Science ®Google Scholar
• Keasey, K., Thompson, S., & Wright, M. (2005). Corporate governance, accountability, enterprise and international comparison. John Willey and Sons Ltd.
   Google Scholar
• Kjærland, F., Haugdal, A. T., Søndergaard, A., & Vågslid, A. Corporate governance and earnings management in a Nordic perspective: evidence from the Oslo stock exchange. (2020). Journal of Risk and Financial Management, 13(11), 1–18. MDPI, Open Access Journal. https://doi.org/10.3390/jrfm13110256
   Web of Science ®Google Scholar
• Lai, L., & Tam, H. (2017). Corporate governance, ownership structure and managing earnings to meet critical thresholds among Chinese listed firms. Review of Quantitative Finance and Accounting, 48(3), 789–818. https://doi.org/10.1007/s11156-016-0568-y
   Web of Science ®Google Scholar
• Leuz, C., Nanda, D., & Wysocki, P. D. (2003). Earnings management and investor protection: an international comparison. Journal of Financial Economics, 69(3), 505–527. https://doi.org/10.1016/S0304-405X(03)00121-1
   Web of Science ®Google Scholar
• Megginson, W. L., & Netter, J. M. (2001). From state to market: A survey of empirical studies on privatization. Journal of Economic Literature, 39(2), 321–389. https://doi.org/10.1257/jel.39.2.321
   Web of Science ®Google Scholar
• Nguyen, H. A., & Nguyen, H. L. (2016). Applying Jones model and its reliability in detecting earning management: empirical study of listed companies in Vietnam’s stock market. Proceedings of the 5rd International Conference On Emerging Challenges: Partnership Enhancement. November 11th 2016, Ha Noi, Vietnam.
   Google Scholar
• Nguyen, H. L. (2017). The factors affecting earnings management behaviors of non-financial listed companies: A research in Vietnamese stock market, [ Doctoral Dissertation], National Economics University.
   Google Scholar
• Nguyen, T. L. (2021). Accounting comparability and accruals-based earnings management: evidence on listed firms in an emerging market. Cogent Business & Management, 81, 1923356. http://doi.org/10.1080/23311975.2021.1923356
   Web of Science ®Google Scholar
• Piosik, A., & Genge, E. The influence of a company’s ownership structure on upward real earnings management. (2019). Sustainability, 12(1), 1–24. MDPI, Open Access Journal. https://doi.org/10.3390/su12010152
   Web of Science ®Google Scholar
• Rahman, R. A., Ali, F., & Haniffa, R. (2006). Board, audit committee, culture and earnings management: Malaysian evidence. Managerial Auditing Journal, 21(7), 783–804. https://doi.org/10.1108/02686900610680549
   Google Scholar
• Roychowdhury, S. (2006). Earnings management through real activities manipulation. Journal of Accounting and Economics, 42(3), 335–370. https://doi.org/10.1016/j.jacceco.2006.01.002
   Web of Science ®Google Scholar
• Seng, D., & Findlay, J. (2013). Corporate governance and earnings management in New Zealand. Corporate Ownership and Control, 10(2), 40–55. https://doi.org/10.22495/cocv10i2art4
   Google Scholar
• Shleifer, A., & Vishny, R. W. (1997). A survey of corporate governance. The Journal of Finance, 52(2), 737–783. https://doi.org/10.1111/j.1540-6261.1997.tb04820.x
   Web of Science ®Google Scholar
• SSC (2021). Report on number of listed companies in Vietnamese stock market. https://www.ssc.gov.vn/ubck/faces/vi/vimenu/vipages_vithongtinthitruong/thongkettck?_adf.ctrl-state=udm0zhnqs_4&_afrLoop=9828039334000 Accessed 12th September 2021
   Google Scholar
• Tehrani, R., Salehi, M., Valipour, H., & Lashky, M. J. (2009). The survey of the political costs and firm size: Case from Iran. Business Intelligence Journal, 2(2), 319–341.
   Google Scholar
• Tran, Q. T., Lam, T. T., & Luu, C. D. (2020). Corporate governance and earnings management: a study of Vietnamese listed banks. The Journal of Asian Finance, Economics and Business, 7(12), 389–395. https://doi.org/10.13106/jafeb.2020.vol7.no12.389
   Web of Science ®Google Scholar
• Utami, W., & Pernamasari, R. (2019). Study on ASEAN listed companies: Corporate governance and firm performace. International Journal of Business, Economics and Law, 19(5), 181–188.
   Google Scholar
• Vo, X. V., Chu, T. K. H., & McMillan, D. (2019). Do foreign shareholders improve corporate earnings quality in emerging markets? Evidence from Vietnam. Cogent Economics & Finance, 7(1), 1698940. https://doi.org/10.1080/23322039.2019.1698940
   Web of Science ®Google Scholar
• Warfield, T. D., Wild, J. J., & Wild, K. L. (1995). Managerial ownership, accounting choices, and informativeness of earnings. Journal of Accounting and Economics, 20(1), 61–92. https://doi.org/10.1016/0165-4101(94)00393-J
   Web of Science ®Google Scholar
• Watts, R. L., & Zimmerman, J. L. (1986). Positive accounting theory. Prentice Hall.
   Google Scholar
• Widagdo, A. K., Rahmawati, R., Murni, S., Wulandari, T. R., & Agustiningsih, S. W., (2021). Corporate governance, audit quality, family ownership and earnings management. International Conference on Entrepreneurship (ICOEN), KnE Social Sciences, 519–534
   Google Scholar
• Worldbank (2020). Protecting minority investors. https://www.doingbusiness.org/en/data/exploreeconomies/vietnam#DB_pi Accessed 9th August 2021
   Google Scholar
• Xie, B., Davidson, W. N., III, & Peter, J. D. (2003). Earnings management and corporate governance: The role of the board and the audit committee. Journal of Corporate Finance, 9(3), 295–316. https://doi.org/10.1016/S0929-1199(02)00006-8
   Web of Science ®Google Scholar
• Yermack D. (1996). Higher market valuation of companies with a small board of directors. Journal of Financial Economics, 40(2), 185–211. 10.1016/0304-405X(95)00844-5
   Web of Science ®Google Scholar
• Zahra, S. A., & Pearce, J. A., II. (1989). Board of directors and corporate financial performance: A review and integrative model. Journal of Management, 15(2), 291–334. https://doi.org/10.1177/014920638901500208
   Web of Science ®Google Scholar