Academic productivity correlates with industry earnings in foot and ankle fellowship programs in the United States:A retrospective analysis

BACKGROUND The study investigates the connection between academic productivity and industry earnings in foot and ankle orthopedic surgery fellowships.Utilizing metrics like the H-index and Open Payments Database(OPD)data,it addresses a gap in understanding the relationship between scholarly achievements and financial outcomes,providing a basis for further exploration in this specialized medical field.AIM To elucidate the trends between academic productivity and industry earnings across foot and ankle orthopedic surgery fellowship programs in the United States.METHODS This study is a retrospective analysis of the relationship between academic productivity and industry earnings of foot and ankle orthopedic surgery fellowships at an individual faculty and fellowship level.Academic productivity was defined via H-index and recorded from the Scopus website.Industry earnings were recorded from the OPD.RESULTS Forty-eight foot and ankle orthopedic surgery fellowships(100%of fellowships)in the United States with a combined total of 165 physicians(95.9%of physicians)were included.Mean individual physician(n=165)total life-time earnings reported on the OPD website was United States Dollar(USD)451430.30±1851084.89(range:USD 25.16-21269249.85;median:USD 27839.80).Mean physician(n=165)H-index as reported on Scopus is 14.24±12.39(range:0-63;median:11).There was a significant but weak correlation between individual physician H-index and individual physician total life-time earnings(P<0.001;Spearman’s rho=0.334)and a significant and moderate positive correlation between combined fellowship H-index and total life-time earnings per fellowship(P=0.004,Spearman’s rho=0.409).CONCLUSION There is a significant and positive correlation between academic productivity and industry earnings at foot and ankle orthopedic surgery fellowships in the United States.This observation is true on an individual physician level as well as on a fellowship level.

Does the Internal Audit Function Play a Role in Mitigating Earnings Management?

This paper aims to investigate the effect of the characteristics of the internal audit function(IAF)on earnings management(EM)for a sample of 27 Tunisian listed companies.The authors employed the Correlated Panels Corrected Standard Errors model to estimate the regression equation.The results showed that EM is negatively associated with internal audit effectiveness,frequency of audit committee meetings with Chief Audit Executives(CAEs),the partial outsourcing of internal audit,and the firm’s size.Moreover,the authors found a positive relationship between EM and the use of IAF as a training ground for management and the private sector.This study is important to academics,regulators,and policymakers in introducing new governance reforms to strengthen the IAF as an important internal governance mechanism to reduce earnings management practices in emerging countries.The results also provide useful information for investors to examine the effect of internal audit characteristics on earnings management.

Simultaneous Interpreting Output Assessment of Earnings Conference Call: Case Analysis of Tencent 2022 Q3 Result Announcement

Quality in simultaneous interpreting is a frequently discussed concept. In the enterprise setting, earnings conference call remains a rarely explored field. This thesis offers a descriptive study on assessing interpreting quality from perspectives of fidelity, fluency, and appropriacy. As the corpus, Tencent 2022 Third Quarter Result Announcement provides an ideal transcript to the author to conduct its analysis. Interpreting is frequently done without bearing in mind the multitude of factors that can affect the quality of interpreting. Drawing a conclusion that the interpreter does make a lot of omissions, pauses and hesitations posing a negative effect on the fidelity, fluency and accuracy of the interpreting, the present author suggests that more preparation should be done for improving performance, such as terminologies, company background information, a reasonable speech rate, good image and acoustic quality, and so on.

Tax avoidance and earnings management:a neural network approach for the largest European economies

In this study,we investigate the relationship between tax avoidance and earnings management in the largest five European Union economies by using artificial neural network regressions.This methodology allows us to deal with nonlinearities detected in the data,which is the principal contribution to the previous literature.We ana-lyzed Compustat data for Germany,the United Kingdom,France,Italy,and Spain for the 2006–2015 period,focusing on discretionary accruals.We considered three tax avoidance measures,two based on the effective tax rate(ETR)and one on book-tax differences(BTD).Our results indicate the presence of nonlinear patterns and a posi-tive,statistically significant relationship between discretionary accruals and both ETR indicators implying that when companies resort to earnings management,a larger tax-able income—and thus higher ETR and lesser tax avoidance–would ensue.Hence,as also highlighted by the fact that discretionary accruals do not appear to affect BTD,our evidence does not suggest that companies are exploiting tax manipulation to reduce their tax payments;thus,the gap between accounting and taxation seems largely unaf-fected by earnings management.

Earnings Management in State-Owned Enterprises in a Period of Macroeconomic Instability

The purpose of this paper is to examine whether and to what extend Greek state-owned enterprises engage in earnings management techniques during 2012-2016.Most prior studies on earnings management have used data from large economies with relative stable macroeconomic contexts(e.g.,USA).Our knowledge about earnings management in smaller economies is rather limited.To fill this void,we conducted our study in Greece and focused on the abovementioned period,which is very interesting given that Greece experienced a substantial political and macroeconomic instability(e.g.,four elections,one referendum,capital controls,and two memorandums).Two different models(i.e.,The Earnings Distribution Model and the Modified Jones Model)are used to provide answers to the research questions.The sample is composed of 50 state-owned enterprises.The results show that Greek state-owned enterprises did not adopt any earnings management techniques during the examined period.These results are rather robust given that they come from two different models.According to the literature,macroeconomic and political instability provide incentives to managers to use earnings management techniques.Interestingly though,our results suggest that this is not the case for a smaller economy.The findings of this study will allow investors,auditors,and users of the financial statements to make better decisions when studying companies that are experiencing those difficulties.The adoption of two different methods and the similar results is an indication of more robust and valid findings.

Tone of language,financial disclosure,and earnings management:a textual analysis of form 20-F

This study investigates the relationship between the tone of financial disclosures and managers’earnings management behavior using Form 20-F filings of Chinese firms listed in the U.S.during 2002–2014.The results show that the proportion of positive,uncertain,or modal words used in financial disclosures is positively related to corporate earnings management,implying that managers attempt to conceal earnings management behavior by manipulating the tone of their financial reports.In addition,robustness tests are conducted using an alternative proxy for earnings management that considers the effects of the financial crisis and separately examines the information and non-information technology industries.The results suggest that the tone used in financial disclosures has informative value,and textual analysis can be an effective tool for identifying earnings management.

Analysis on Chinese Regional Differences in International Tourism Foreign Exchange Earnings with Method of One-way Variance Analysis

Based on data over 31 provinces and cities in China from2006 to 2013,this thesis first divides those 31 provinces and cities into four economic regions including northeastern region,central region,eastern region and western region.Based on data over 31 provinces and cities in China from 2006 to 2013,those 31 provinces and cities were devided into four economic regions in this thesis,including northeastern region,central region,eastern region and western region.Then,it takes international tourism foreign exchange earnings as the dependent variable,the four economic regions as the factor to measure the difference of international tourism foreign exchange earnings in different regions,and finds out the main reasons of it.Through the one-way variance analysis on international tourism foreign exchange earnings,we can know that international tourism foreign exchange earnings have differences in different regions apparently.Besides,significant differences can be found between northeastern and central regions as well as eastern and western regions,while it is not the same case between the central and western regions.

An investigation and analysis of the export earnings of 100 foreign trade enterprises in the first five months of this year

In order to understand the export situation faced by Chinese foreign trade enterprises and learn about their difficulties and problems in this regard, the China Association of Foreign Trade and Economic Cooperation Enterprises carried

The Effect of Dividends and Earnings per Share on the Stock Market Value by Moderating Bank Size

The aim of this study was to investigate the effect of dividend distributions and earnings per share by moderating bank size as measured by its total assets on the stock market value of banks operating in Jordan during the period between 2011 and 2016.The hypotheses of the study were tested based on multiple and hierarchical regression method.The most important result of the study is that the earnings per share is the strongest variable that helps in predicting the stock market value of the bank shares,in addition to the significant effect of bank size as measured by its total assets.

Stock Market Reaction to Yearly Earnings Announcements for Firms in Financial Distress:Evidences from Italy

The purpose of this paper is to feed the debate regarding investor’s reaction to relevant financial information releases as yearly earnings announcements(EAs)with a specific focus on financial distressed firms.Using the event study methodology and adopting two well-known tests in the literature,we analyzed Italian listed companies in the period of 2008-2016,to detect whether there is a market reaction to EAs releases for firms in financial distress,adopting as a measure of financial distress the presence in the audit report of a going concern opinion(GCO).In the Italian legislation,the GCO must be communicated immediately to the market and this can be done before,simultaneously or after EAs.The achieved results shed light on the negative impact of EAs of distressed firms receiving a GCO.On the other hand,the possibility that negative abnormal returns are mainly due to the GCO release cannot be neglected.Hence,through additional tests,we found that effects of EAs are more persistent and significant than GCOs,in accordance with the prevailing literature,which sees,on average,EAs predominant information for investors.Our study is pioneering in disentangling possible effects of confounding events for the Italian stock market.The EAs superior effect confirms the dynamics characterizing weak and small equity markets as Italy where,before GCOs releases,some relevant and more precise information(such as earnings magnitude)is often held by shareholders because of the high percentage of family firms and/or concentrated ownership,demonstrating also the weakness of auditor profession if compared with other developed countries.

Book-Tax Ratio and Earnings Quality of Listed Firms in Nigeria

The main objective of this study is to examine the nature relationship between book-tax ratio and earnings quality of listed firms in Nigeria. The other specific objective is to assess the level of earnings quality of listed firms in Nigeria. The expo facto design was adopted for this study on 47 listed firms on the Nigeria Stock Exchange. This design relies on secondary data in exploring the relationship between book-tax ratio and earnings quality. The result revealed that book-tax ratio has no significant positive association with earnings quality of listed firms in Nigeria. This suggests that taxable income does not convey additional incremental information on earnings with respect to contemporaneous stock returns and accruals. To the best of our knowledge, this is one of the few studies that have investigated the relationship between book-tax ratio and earnings quality in different sectors in Nigeria. The result has implication on capital market and earnings quality. Thus, the result of this study will be useful to capital market regulators, standard setters, and future researchers.

Financial Statements Frauds: Does Their Intensity Have a Connection with Earnings Management?

This study investigates the relationship between earnings management and financial statements frauds.We examine how earnings management practices;done in the two years before the fraud,impact the likelihood of fraud occurrence.Moreover,we introduce a new measure for the fraud intensity.Using a sample of 70 fraud and 70 no-fraud firms,we find that firms committing fraud of higher intensity have managed earnings in the two years before the fraud occurrence.This paper contributes to the literature about fraud antecedents because it is the first study measuring the relationship between earnings management and the intensity of the fraud,and it can be also useful for practitioners,because using the analysis of earnings management practices,analysts can foresee and prevent financial statements frauds.

Guilin Rubber Machinery Factory Increases Export Earnings

Situated in the southern suburbs of Guilin City and founded in 1966, the Guilin Rubber Machinery Factory is a special factory under the Ministry of the Chemical Industry producing rubber machinery. The factory has a staff of 1,900. fixed assets of RMB 110 million,advanced equipment, a strong technical force and complete product categories.Its main products—double-mold tyre setting vulcanizers—account for

Xi'an Aviation Engine Co.——Speeding up the Pace of Technical Renovation, Raising the Capacity of Subcontracting and Export Earnings

In recent years, the subcontracting production for foreign trade of the Xi’an Aviation Engine Company (XAEC), a foreign trade production base of China, has achieved rapid development. In 1994, the company’s export earnings from foreign trade made a breakthrough at US$11 million, and it was commended by the State Economic

The Efficiency of Markets in Response to Earnings Forecasts: The Case of China

This paper investigates the semi-strong form of efficiency of Chinese stock markets in response to earnings forecast announcement by employing the methodology of event study. The sample period is from January 2009 to January 2018, in total 564 event were examined. The reaction of markets to different types of new announcement is investigated and presented separately. Firstly, examination of positive and negative earnings forecast report shows that information shock brings a significant positive and negative returns during the event window. In addition, analysis of different sub-windows showed prices adjust to news quickly and effectively. However, no news announcements bring no significant shock to market, prices are not impacted by slight change forecasts. In general, empirical results provided evidences of semi-strong market efficiency. Earnings forecast announcements possess huge impact on market prices, therefore participants can make abnormal profit if they act on the information very quickly. However, beyond event window information becomes ineffective and does not possess any kind of content to make above market returns .

Ownership Structure and Earnings Quality of Listed Financial Firms in Nigeria

The study determined the effect of ownership structure on earnings quality of listed financial firms in Nigeria.The study employed secondary data.The study population comprised all the 16 listed financial firms on the Nigerian Stock Exchange.Purposive sampling technique was adopted to select top 10 banks whose shares are consistently traded on the stock market.Data for ownership structure and earnings quality were sourced from the audited financial statements of the selected firms and the Nigerian Stock Exchange Factbook over a period of 10 years(2009-2018).Collected data were analyzed using pooled ordinary least square,fixed effect and random effect estimation techniques.The result from the study showed that institutional ownership(t=4.3,p˂0.05)had a positive and statistically significant relationship with earnings quality while ownership concentration(t=-2.5,p˂0.05)had a negative and significant relationship with earnings quality.The study recommended that the institutional ownership which shows a positive relationship with earnings quality enables improved earnings of the sampled listed banks.More institutional participation should be allowed in the Nigerian listed banks as it was proved that they have the power to monitor the affairs of managers as this will have a positive impact on earnings.Concentration ownership gives managers incentives to manage earnings to achieve short term opportunistic interest;therefore it should not be encouraged.

Does Dividend Policy Affect Earnings Management?Evidence From France

The objective of this paper is to examine the impact of the dividend policy on earnings management in France.Note that in recent years,research on the determinants of earnings management has multiplied.However,little work has really looked into this issue.The empirical research is based on a sample made up of French companies listed on the CAC All Tradable index for the period 2008-2015.The empirical results show that the dividend policy is a determinant of earnings management in the French context.

Effect of Fair Value Measurement on Earnings Management of Chinese Real Estate Listed Companies

since the fair value has been used,it has always been paid more attention to,after the financial crisis,it has caused widespread denunciation of the academic session.In the new accounting standards issued in 2014,the attention of fair value has always been very high,which can reflect the influence of enterprises on earnings management through the measurement of fair value.By describing the application of fair value under the new criteria to pave the way for the following description.The back illustrates the impact of fair value on earnings management under the new guidelines.At the end of the paper,some policies and constructive suggestions are put forward to improve earnings management in Chinese enterprises.

Earnings seasonality,management earnings forecasts and stock returns

We examine whether management earnings forecasts(MEFs)help reduce the stock return seasonality associated with earnings seasonality around earnings announcements(EAs)in Chinese A-share markets.We find that firms in historically low earnings seasons outperform firms in high earnings seasons by 2.1%around MEFs.Firms in low earnings seasons also have higher trading volume and return volatility than their counterparts around EAs and MEFs.MEFs significantly reduce the ability of historical seasonal earnings rankings to negatively predict announcement returns,volume and volatility around EAs.The reduction effects are stronger when MEFs are voluntary or made closer to EAs.The evidence suggests that MEFs facilitate the correction of investors’tendency to extrapolate earnings seasonality and its resulted stock mispricing.