Accrual determinants , sales changes and their impact on empirical accrual models ∗
Accrual determinants , sales changes and their impact on empirical accrual models ∗
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应计决定因素、销售变化及其对经验应计模型的影响*
DOI：
10.2139/ssrn.817485
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发表时间：
2005
期刊：
影响因子：
--
通讯作者：
Chandra Seethamraju
中科院分区：
文献类型：
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作者：
N. Dopuch;R. Mashruwala;Chandra Seethamraju
在本文中，我们认为应计营运资本与销售变化之间的关系（在会计文献中广泛采用琼斯型模型进行建模）比这些模型所描述的更为复杂。除了销售变化之外，应计费用还受到应计决定因素的影响，例如公司的库存和信贷政策。在我们的第一组测试中，我们记录了琼斯型应计模型中销售变化的系数与应计决定因素相关。此外，我们发现给定行业内应计生成过程的同质性（由应计决定因素代表）会影响销售变化系数的显着性水平。应计决定因素的离散度越高，显着性水平越低。我们还发现了销售变化系数中异常应计计量误差的偏差来源之一，这源于应计生成过程中的异质性。我们的研究对使用异常应计项目的绝对值作为应计项目或盈利质量衡量标准的研究具有直接影响。我们的研究结果表明，行业内应计费用生成过程的高度异质性会导致异常应计费用的较大误差，从而导致异常应计费用的绝对值较大。我们的结果对盈余管理研究的影响更为复杂，需要了解这些研究中的划分变量与行业分类之间的相关性。虽然我们的分析主要集中在琼斯模型的更流行的横截面实施上，但该研究的逻辑和一些结果也适用于模型的时间序列版本。
In this paper we argue that the relationship between working capital accruals and changes in sales, extensively modeled in the accounting literature by the Jones-type models, is more complex than portrayed by these models. In addition to sales changes, accruals are also affected by accrual determinants such as firms’ inventory and credit policies. In our first set of tests, we document that the coefficient on sales changes in Jones-type accrual models is related to the accrual determinants. Additionally, we find that the homogeneity in the accrual-generating process within a given industry, which is represented by the accrual determinants, affects the significance level of the coefficient on sales changes. Higher dispersion in accrual determinants is associated with lower levels of significance. We also identify one source of bias in abnormal accruals measurement error in the coefficient of sales changes, which stems from heterogeneity in the accrual generating process. Our study has direct implications on studies that use the absolute value of abnormal accruals as a measure of accrual or earnings quality. Our results indicate that a high level of heterogeneity in the accrual-generating process within an industry leads to larger errors in abnormal accruals and thus, larger absolute values of abnormal accruals. The implication of our results on earnings management studies is more complex and requires knowledge of the correlation between the partitioning variables in those studies and industry classification. While our analysis focuses mostly on the more popular crosssectional implementation of the Jones-model, the study’s logic and some of the results also apply to the time-series version of the models.