Here are some critical facts.īrunei Darussalam Head of State: His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah Capital: Bandar Seri Begawan National Flag: Click for detail Specification. The ten member states of the Association of Southeast Asian Nations collectively comprise the seventh-largest economy in the world. The seven insights below offer a snapshot of one of the world’s most diverse, fast-moving, and competitive regions. As the region seeks to deepen its ties and capture an even greater share of global trade, its economic profile is rising-and it is crucial for those outside the region to understand its complexities and contradictions. ASEAN is a major global hub of manufacturing and trade, as well as one of the fastest-growing consumer markets in the world. Founded in 1967, ASEAN today encompasses Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam-economies at vastly different stages of development but all sharing immense growth potential. An unexpected increase in core earnings is more consistent with real economic improvements.But investors and multinationals are increasingly turning their gaze southward to the ten dynamic markets that make up the Association of Southeast Asian Nations (ASEAN). This research does not provide empirical support for classification shifting by companies listed in the capital markets of Indonesia, Malaysia, Singapore, Philippines, Thailand, and Vietnam. Results show that extraordinary items current year are positively associated with unexpected core earnings this year, but extraordinary items this year are also positively associated with unexpected change in core earnings in the following year. Data analysis was performed using multiple regressions. Final samples are 126 observations from 2004 until 2008. Samples of this research obtained with purposive sampling from all companies listed in the capital markets of Indonesia, Malaysia, Singapore, Philippines, Thailand, and Vietnam. This research aims to detect earnings management through classification shifting by classifying core expenses as extraordinary items to increase core earnings. Extraordinary items are transitory items or irregular items and their allocation require management subjectivity, thus allowing management to exercise classification shifting using extraordinary items to increase core earnings. Earnings management using classification shifting is interesting because many previous researches have shown that analyst and investors pay more attention to core earnings (investors give low weight on transitory earnings).
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