Consequences of Earnings Management for Islamic Banks: Evidence from Worldwide, the GCC, and the ASEAN Region
Keywords:
Earnings Management, Performance, Management Incentives, Stability, Islamic Banks
Abstract
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This study aims to empirically investigate the impact of earnings management (EM) on the performance, stability, and managerial incentives of Islamic banks (IBs). Secondary data was obtained from 75 largest IBs (in terms of their total assets) worldwide from 2009 to 2020. The panel data estimation method was used to carry out the empirical analysis. Regression models were used for estimation on the worldwide sample, along with the samples from the GCC and ASEAN regions, respectively. The results showed the significant negative impact of EM on the internal performance (ROE/ROA) of IBs, both worldwide and in the GCC region. On the contrary, the findings indicated that EM does not exert a significant influence on the internal performance metrics of IBs within the ASEAN region. Additionally, no notable effects of EM on external performance, specifically in terms of stock returns, as well as on managerial incentives, were identified across all three sample sizes under investigation. Conversely, a significant negative relationship between EM and stability, as measured by the Z-score, was observed for all. This research is a pioneering empirical investigation into the effects of EM on the performance, stability, and risk-taking behavior of IBs, thereby providing a more nuanced understanding of its implications within the Islamic banking sector.
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References
Ab Hamid, M. F., Asid, R., Fatimah, N., Sulaiman, W.F., & Abdul Bahri, E.N. (2018). The Effect of Earnings Management on Bank Efficiency. Asian Journal of Accounting and Governance. 10. 10.17576/AJAG-2018-10-07.
Abdeljawad, I., Nour, A. I., Jalal, G., & Arda, A. (2022). Executive Rewards and Firm Performance: A Study from Palestine. Corona Virus Pandemic: Its Effects and Recovery Strategies: A joint Conference Between Zarqa University - Jordan & An-Najah National University – Palestine, Nablus, Palestine. https://www.researchgate.net/publication/359471809_Executive_Rewards_and_Firm_Performance_A_Study_from_Palestine
Abdelmoneim, Z., & Yasser. M. (2023). The Impact of Bank Performance and Economic Growth on Bank Profitability: Camel Model Application in Middle-Income Countries, Banks and Banking Systems, 18(3), 204-220.
Adams, R., & Mehran, H. (2003). Is Corporate Governance Different for Bank Holding Companies? FRBNY Economic Policy Review, 123-142.
Ahmad, G., Hayat, F., Almaqtari, F. A., Farhan, N. H., & Shahid, M. (2023). Corporate social responsibility spending and earnings management: The moderating effect of ownership structure. Journal of Cleaner Production, 384, 135556. https://doi.org/10.1016/j.jclepro.2022.135556
Alam, N., Ramachandran, J., & Nahomy, A. H. (2020). The impact of corporate governance and agency effect on earnings management–A test of the dual banking system. Research in International Business and Finance,54, 101242.
Alhadab, M., & Al-Own, B. (2017). Earnings management and banks performance: Evidence from Europe. International Journal of Academic Research in Accounting, Finance and Management Sciences, 7(4), 134-145.
Al-Sharkas, A. A., & Al-Sharkas, T. A. (2022). The impact on bank profitability: Testing for capital adequacy ratio, cost-income ratio and non-performing loans in emerging markets [Special issue]. Journal of Governance & Regulation, 11(1), 231–243.
Anagnostopoulou, S. C., & Tsekrekos, A. E. (2017). The Effect of Financial Leverage on Real and Accrual-Based Earnings Management. Accounting and Business Research, 47 (2), 191-236.
Aqabna, S. M., Aga, M., & Jabari, H. N. (2023). Firm Performance, Corporate Social Responsibility and the Impact of Earnings Management during COVID-19: Evidence from MENA Region, Sustainability,15(2).https://doi.org/10.3390/su15021485
Azam, I., & Majeed, M. (2020). How Islamic and Conventional Banks Use Discretionary Loan Loss Provisions in Pakistan. Journal of Philosophy, Culture and Religion,49, 14-19.
Bachtijeva, D. (2021). Manipuliacijų ApskaitosInformacija Prielaidos, rūšysirtaikymobūdai. Buhalterinės ApskaitosTeorijaIr Praktika, 23, 1–15.DOI: 10.15388/ batp.2021.33
Baker, T. A., Lopez, T. J., Reitenga, A. L., & Ruch, G. W. (2019). The influence of CEO and CFO power on accruals and real earnings management, Review of Quantitative Finance and Accounting,52 (1),325–345.
Braima, B. H. G. E. (2021). Determinants of Islamic Banks Distress in Gulf Council Countries (GCC). In Linear and Non-Linear Financial Econometrics-Theory and Practice, Intech Open, doi: 10.5772/intechopen.95028
Brennan, N. M. (2021). Connecting earnings management to the real World: What happens in the black box of the boardroom? The British Accounting Review,53(6),101036. https://doi.org/10.1016/j.bar.2021.101036
Buanaputra, V.G. (2021). Is there any interaction between real earnings management and accrual-based earnings management? Jurnal Akuntansidan Auditing Indonesia, 25(1),12-23.
Debnath, P. (2017). Assaying the impact of firm's growth and performance on earnings management: An empirical observation of Indian economy, International Journal of Research in Business Studies and Management,4(2), 30-40.
Dechow, P. M., Myers, L. A., & Shakespeare, C. (2010). Fair value accounting and gains from asset securitizations: A convenient earnings management tool with compensation side-benefits, Journal of accounting and economics,49 (1), 2-25.
Ding, R., Li, J., & Wu, Z. (2018). Government affiliation, real earnings management, and firm performance: The case of privately held firms, Journal of Business Research, 83, 138–150.
El Diri, M. (2017). Introduction to earnings management, (Illustrated) Springer International Publishing.
El Sood, H. A. (2012). Loan loss provisioning and income smoothing in US banks pre and post the financial crisis, International Review of Financial Analysis, 25,64-72.
Fanta, A.(2013). Corporate Governance and impact on Bank Performance. Journal of Finance and Accounting. 1. 19. 10.11648/j.jfa.20130101.12.
Fitri, V., & Siswantoro, D. (2022). Can corporate governance mechanisms reduce earnings-management practices in Islamic banks? Journal of Islamic Accounting and Business Research, 13(1), 16-31. https://doi.org/10.1108/JIABR-04-2019-0081
Goulart, A. (2007). Accounting earnings management in financial institutions in Brazil,Programa de Pós-GraduaçãoemContabilidade, Universidade de São Paulo, São Paulo, SP, Brasil.
Graham, J. R., Campbell, R. H., & Shiva. R. (2005). The economic implications of corporate financial reporting, Journal of Accounting and Economics, 40,3–73.
Grougiou V., Leventis. S., Dedoulis. E., & Owusu-Ansah S.(2014). Corporate social responsibility and earnings management in U.S. banks, Accounting Forum, 38(3), 155-169. https://doi.org/10.1016/j.accfor.2014.05.003.
Gunny, K. A. (2010). The relation between earnings management using real activities manipulation and future performance: Evidence from meeting earnings benchmarks, Contemporary Accounting Research,27(3),855–888.
Haddawee, Ameerh Hatif & Flayyih, Hakeem. (2020). The Relationship between Bank Deposits and Profitability for Commercial Banks, International Journal of Innovation, Creativity and Change, 13(7), 226-234.
Hamdi, F. M., & Zarai, M. A. (2013). Perspectives of Earnings Management In Islamic Banking Institutions. International Journal of Business and Management Invention, 2(9), 26-38.
Hatane, S. E., Octavia, F., & Florentina, J. (2019). The Comparison of Earnings Management Practices in Indonesia s Islamic Banks and Conventional Banks, (Doctoral dissertation, Atlantis Press).
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: managerial behavior, agency cost and ownership structure, Journal of Financial Economics, 3,305-360.
Kanagaretnam, K., Lim, C. Y., & Lobo, G. J. (2010). Auditor reputation and earnings management: International evidence from the banking industry, Journal of Banking & Finance, 34 (10), 2318-2327.
Kosimodo, P. & Doumpos (2006). Assessing performance factors in the UK banking sector, a multicriteria methodology, Cejour journal.
Kosmidau, K., Tanna, S.,& Pasiours, F.(2005). Determinants of Profitability of Domestic UK commercial banks: Panel evidence from the period of 1995-2002. Money Macro
and Finance (MMF) Research Group Conference 2005, September.
Kliestik, T., Valaskova, K., Nica, E., Kovacova, M., & Lazaroiu, G. (2020). Advanced methods of earnings management: Monotonic trends and change-points under spotlight in the Visegrad countries, Oeconomia Copernicana, 11(2), 371-400.
Kumari, P., & Pattanayak, J. K. (2017). Linking earnings management practices and corporate governance system with the firms’ financial performance: A study of Indian commercial banks. Journal of Financial Crime, 24(2), 223–241.
Lassoued, N., Mouna Ben Rejeb Attia, M.B.R., & Sassi, H. (2018). Earnings management in islamic and conventional banks: Does ownership structure matter? Evidence from the MENA region, Journal of International Accounting, Auditing and Taxation,30, 85-105. https://doi.org/10.1016/j.intaccaudtax.2017.12.003.
Mersni, H., & Othman, H. Ben. (2016). The Impact of Corporate Governance Mechanisms on Earnings Management in Islamic Banks in the Middle East Region. Journal of Islamic Accounting and Business Research, 7(4), 318–348. https://doi.org/10.1108/JIABR-11-2014-0039
Mojoodiniay, K. S., & Tasaddi, K. M. J. (2023). The Relationship Between Earnings Management and Firm Performance in the Companies Listed in Tehran Stock Exchange: The Function of Firm Size, Environmental Energy and Economic Research, 7(1), 1-10.doi: 10.22097/eeer.2022.362492.1264
Montgomery, L. (1998). Recent developments affecting depository institutions, FDIC Banking Review,11(4), 26–34.
Nurianah, N. (2019). What is earning management in sharia bank lower than conventional bank? Journal of Islamic Accounting and Finance Research, 1 (1), 97-118.
Othman, H. B., & Mersni, H. (2014). The use of discretionary loan loss provisions by Islamic banks and conventional banks in the Middle East region: A comparative study, Studies in Economics and Finance, 31(1), 106-128.
Proença, P., Augusto, M. & Murteira, J. (2023). The effects of earnings management on bank efficiency: Evidence from ECB-Supervised banks. Finance Research Letters, 51. https://estudogeral.uc.pt/bitstream/10316/103320/1/1-s2.0-S1544612322006274-main.pdf
Quttainah, M. A., Song, L., & Wu, Q. (2013). Do Islamic Banks Employ Less Earning Management? Journal of International Financial Management & Accounting, 24(3), 203-233.
Quttainah, M., & Song, L., & Wu, Q. (2013). Do Islamic Banks Employ Less Earnings Management? Journal of International Financial Management & Accounting. 24. 10.1111/jifm.12011.
Redmond, G., & Bonhnsac. (2007). Bank size and profitability: One nation, One bank. International Business Research, 8(1).
Riahi, Y. (2020). Examining the relationship between bank stability and earnings quality in Islamic and conventional banks, International Journal of Islamic and Middle Eastern Finance and Management, 13(5), 803-826. https://doi.org/10.1108/IMEFM-10-2018-0328
Salem, R., Usman, M., & Ezeani, E. (2021). Loan loss provisions and audit quality: Evidence from MENA Islamic and conventional banks, The Quarterly Review of Economics and Finance, 79, 345-359. https://doi.org/10.1016/j.qref.2020.07.002.
Setiawati, A. S., & Witono, B. (2023). Analysis of CSR Disclosure, Earnings Persistency, Earnings Growth, and Business Size on Earnings Management with Institutional Ownership as a Moderating Variable (Case Study on LQ45 Companies Listed on the Indonesia Stock Exchange (IDX) 2016-2020), Riset Akuntansidan Keuangan Indonesia, 7(2),227-243.
Sufian, F., & Chong, R. R. (2008). DETERMINANTS OF BANK PROFITABILITY IN A DEVELOPING ECONOMY: EMPIRICAL EVIDENCE FROM THE PHILIPPINES. Asian Academy of Management Journal of Accounting & Finance, 4(2).
Sufian, F., & Habibullah, M. S.(2009). Bank Specific and macroeconomic determinants of
bank profitability: Empirical evidence from the China banking sector. Frontiers
of Economics in China, .4(2), 274-291.
Syarif, F., Qorib, A., Siregar, S., & Muda, I. (2021). Factors Affecting Earnings Management Islamic Banking Companies at The Indonesia Stock Exchange Publication Year 2013-2019. JIA (Jurnal Ilmiah Akuntansi), 6(2), 491-515.
Tan, Y., & Floros, C. (2012). Bank profitability and inflation: the case of China. Journal of Economic studies, 39(6), 675-696.
Ujah, N.U., Brusa, J., & Okafor, C.E. (2017). The influence of earnings management and bank structure on bank performance: International evidence, Managerial Finance, 43(7), 761-773. https://doi.org/10.1108/MF-12-2015-0329
Verrecchia, R.E. (1983). Discretionary disclosure, Journal of Accounting and Economics, 5, 179-194.
Zainuldin, M. H., & Lui, T. K. (2020). Earnings management in financial institutions: A comparative study of Islamic banks and conventional banks in emerging markets, Pacific-Basin Finance Journal, 62, 101044.
Zang, A. (2012). Evidence on the trade-off between real activities manipulation and accrual-based earnings management.The Accounting Review, 87(2), 675–703.
Abdeljawad, I., Nour, A. I., Jalal, G., & Arda, A. (2022). Executive Rewards and Firm Performance: A Study from Palestine. Corona Virus Pandemic: Its Effects and Recovery Strategies: A joint Conference Between Zarqa University - Jordan & An-Najah National University – Palestine, Nablus, Palestine. https://www.researchgate.net/publication/359471809_Executive_Rewards_and_Firm_Performance_A_Study_from_Palestine
Abdelmoneim, Z., & Yasser. M. (2023). The Impact of Bank Performance and Economic Growth on Bank Profitability: Camel Model Application in Middle-Income Countries, Banks and Banking Systems, 18(3), 204-220.
Adams, R., & Mehran, H. (2003). Is Corporate Governance Different for Bank Holding Companies? FRBNY Economic Policy Review, 123-142.
Ahmad, G., Hayat, F., Almaqtari, F. A., Farhan, N. H., & Shahid, M. (2023). Corporate social responsibility spending and earnings management: The moderating effect of ownership structure. Journal of Cleaner Production, 384, 135556. https://doi.org/10.1016/j.jclepro.2022.135556
Alam, N., Ramachandran, J., & Nahomy, A. H. (2020). The impact of corporate governance and agency effect on earnings management–A test of the dual banking system. Research in International Business and Finance,54, 101242.
Alhadab, M., & Al-Own, B. (2017). Earnings management and banks performance: Evidence from Europe. International Journal of Academic Research in Accounting, Finance and Management Sciences, 7(4), 134-145.
Al-Sharkas, A. A., & Al-Sharkas, T. A. (2022). The impact on bank profitability: Testing for capital adequacy ratio, cost-income ratio and non-performing loans in emerging markets [Special issue]. Journal of Governance & Regulation, 11(1), 231–243.
Anagnostopoulou, S. C., & Tsekrekos, A. E. (2017). The Effect of Financial Leverage on Real and Accrual-Based Earnings Management. Accounting and Business Research, 47 (2), 191-236.
Aqabna, S. M., Aga, M., & Jabari, H. N. (2023). Firm Performance, Corporate Social Responsibility and the Impact of Earnings Management during COVID-19: Evidence from MENA Region, Sustainability,15(2).https://doi.org/10.3390/su15021485
Azam, I., & Majeed, M. (2020). How Islamic and Conventional Banks Use Discretionary Loan Loss Provisions in Pakistan. Journal of Philosophy, Culture and Religion,49, 14-19.
Bachtijeva, D. (2021). Manipuliacijų ApskaitosInformacija Prielaidos, rūšysirtaikymobūdai. Buhalterinės ApskaitosTeorijaIr Praktika, 23, 1–15.DOI: 10.15388/ batp.2021.33
Baker, T. A., Lopez, T. J., Reitenga, A. L., & Ruch, G. W. (2019). The influence of CEO and CFO power on accruals and real earnings management, Review of Quantitative Finance and Accounting,52 (1),325–345.
Braima, B. H. G. E. (2021). Determinants of Islamic Banks Distress in Gulf Council Countries (GCC). In Linear and Non-Linear Financial Econometrics-Theory and Practice, Intech Open, doi: 10.5772/intechopen.95028
Brennan, N. M. (2021). Connecting earnings management to the real World: What happens in the black box of the boardroom? The British Accounting Review,53(6),101036. https://doi.org/10.1016/j.bar.2021.101036
Buanaputra, V.G. (2021). Is there any interaction between real earnings management and accrual-based earnings management? Jurnal Akuntansidan Auditing Indonesia, 25(1),12-23.
Debnath, P. (2017). Assaying the impact of firm's growth and performance on earnings management: An empirical observation of Indian economy, International Journal of Research in Business Studies and Management,4(2), 30-40.
Dechow, P. M., Myers, L. A., & Shakespeare, C. (2010). Fair value accounting and gains from asset securitizations: A convenient earnings management tool with compensation side-benefits, Journal of accounting and economics,49 (1), 2-25.
Ding, R., Li, J., & Wu, Z. (2018). Government affiliation, real earnings management, and firm performance: The case of privately held firms, Journal of Business Research, 83, 138–150.
El Diri, M. (2017). Introduction to earnings management, (Illustrated) Springer International Publishing.
El Sood, H. A. (2012). Loan loss provisioning and income smoothing in US banks pre and post the financial crisis, International Review of Financial Analysis, 25,64-72.
Fanta, A.(2013). Corporate Governance and impact on Bank Performance. Journal of Finance and Accounting. 1. 19. 10.11648/j.jfa.20130101.12.
Fitri, V., & Siswantoro, D. (2022). Can corporate governance mechanisms reduce earnings-management practices in Islamic banks? Journal of Islamic Accounting and Business Research, 13(1), 16-31. https://doi.org/10.1108/JIABR-04-2019-0081
Goulart, A. (2007). Accounting earnings management in financial institutions in Brazil,Programa de Pós-GraduaçãoemContabilidade, Universidade de São Paulo, São Paulo, SP, Brasil.
Graham, J. R., Campbell, R. H., & Shiva. R. (2005). The economic implications of corporate financial reporting, Journal of Accounting and Economics, 40,3–73.
Grougiou V., Leventis. S., Dedoulis. E., & Owusu-Ansah S.(2014). Corporate social responsibility and earnings management in U.S. banks, Accounting Forum, 38(3), 155-169. https://doi.org/10.1016/j.accfor.2014.05.003.
Gunny, K. A. (2010). The relation between earnings management using real activities manipulation and future performance: Evidence from meeting earnings benchmarks, Contemporary Accounting Research,27(3),855–888.
Haddawee, Ameerh Hatif & Flayyih, Hakeem. (2020). The Relationship between Bank Deposits and Profitability for Commercial Banks, International Journal of Innovation, Creativity and Change, 13(7), 226-234.
Hamdi, F. M., & Zarai, M. A. (2013). Perspectives of Earnings Management In Islamic Banking Institutions. International Journal of Business and Management Invention, 2(9), 26-38.
Hatane, S. E., Octavia, F., & Florentina, J. (2019). The Comparison of Earnings Management Practices in Indonesia s Islamic Banks and Conventional Banks, (Doctoral dissertation, Atlantis Press).
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: managerial behavior, agency cost and ownership structure, Journal of Financial Economics, 3,305-360.
Kanagaretnam, K., Lim, C. Y., & Lobo, G. J. (2010). Auditor reputation and earnings management: International evidence from the banking industry, Journal of Banking & Finance, 34 (10), 2318-2327.
Kosimodo, P. & Doumpos (2006). Assessing performance factors in the UK banking sector, a multicriteria methodology, Cejour journal.
Kosmidau, K., Tanna, S.,& Pasiours, F.(2005). Determinants of Profitability of Domestic UK commercial banks: Panel evidence from the period of 1995-2002. Money Macro
and Finance (MMF) Research Group Conference 2005, September.
Kliestik, T., Valaskova, K., Nica, E., Kovacova, M., & Lazaroiu, G. (2020). Advanced methods of earnings management: Monotonic trends and change-points under spotlight in the Visegrad countries, Oeconomia Copernicana, 11(2), 371-400.
Kumari, P., & Pattanayak, J. K. (2017). Linking earnings management practices and corporate governance system with the firms’ financial performance: A study of Indian commercial banks. Journal of Financial Crime, 24(2), 223–241.
Lassoued, N., Mouna Ben Rejeb Attia, M.B.R., & Sassi, H. (2018). Earnings management in islamic and conventional banks: Does ownership structure matter? Evidence from the MENA region, Journal of International Accounting, Auditing and Taxation,30, 85-105. https://doi.org/10.1016/j.intaccaudtax.2017.12.003.
Mersni, H., & Othman, H. Ben. (2016). The Impact of Corporate Governance Mechanisms on Earnings Management in Islamic Banks in the Middle East Region. Journal of Islamic Accounting and Business Research, 7(4), 318–348. https://doi.org/10.1108/JIABR-11-2014-0039
Mojoodiniay, K. S., & Tasaddi, K. M. J. (2023). The Relationship Between Earnings Management and Firm Performance in the Companies Listed in Tehran Stock Exchange: The Function of Firm Size, Environmental Energy and Economic Research, 7(1), 1-10.doi: 10.22097/eeer.2022.362492.1264
Montgomery, L. (1998). Recent developments affecting depository institutions, FDIC Banking Review,11(4), 26–34.
Nurianah, N. (2019). What is earning management in sharia bank lower than conventional bank? Journal of Islamic Accounting and Finance Research, 1 (1), 97-118.
Othman, H. B., & Mersni, H. (2014). The use of discretionary loan loss provisions by Islamic banks and conventional banks in the Middle East region: A comparative study, Studies in Economics and Finance, 31(1), 106-128.
Proença, P., Augusto, M. & Murteira, J. (2023). The effects of earnings management on bank efficiency: Evidence from ECB-Supervised banks. Finance Research Letters, 51. https://estudogeral.uc.pt/bitstream/10316/103320/1/1-s2.0-S1544612322006274-main.pdf
Quttainah, M. A., Song, L., & Wu, Q. (2013). Do Islamic Banks Employ Less Earning Management? Journal of International Financial Management & Accounting, 24(3), 203-233.
Quttainah, M., & Song, L., & Wu, Q. (2013). Do Islamic Banks Employ Less Earnings Management? Journal of International Financial Management & Accounting. 24. 10.1111/jifm.12011.
Redmond, G., & Bonhnsac. (2007). Bank size and profitability: One nation, One bank. International Business Research, 8(1).
Riahi, Y. (2020). Examining the relationship between bank stability and earnings quality in Islamic and conventional banks, International Journal of Islamic and Middle Eastern Finance and Management, 13(5), 803-826. https://doi.org/10.1108/IMEFM-10-2018-0328
Salem, R., Usman, M., & Ezeani, E. (2021). Loan loss provisions and audit quality: Evidence from MENA Islamic and conventional banks, The Quarterly Review of Economics and Finance, 79, 345-359. https://doi.org/10.1016/j.qref.2020.07.002.
Setiawati, A. S., & Witono, B. (2023). Analysis of CSR Disclosure, Earnings Persistency, Earnings Growth, and Business Size on Earnings Management with Institutional Ownership as a Moderating Variable (Case Study on LQ45 Companies Listed on the Indonesia Stock Exchange (IDX) 2016-2020), Riset Akuntansidan Keuangan Indonesia, 7(2),227-243.
Sufian, F., & Chong, R. R. (2008). DETERMINANTS OF BANK PROFITABILITY IN A DEVELOPING ECONOMY: EMPIRICAL EVIDENCE FROM THE PHILIPPINES. Asian Academy of Management Journal of Accounting & Finance, 4(2).
Sufian, F., & Habibullah, M. S.(2009). Bank Specific and macroeconomic determinants of
bank profitability: Empirical evidence from the China banking sector. Frontiers
of Economics in China, .4(2), 274-291.
Syarif, F., Qorib, A., Siregar, S., & Muda, I. (2021). Factors Affecting Earnings Management Islamic Banking Companies at The Indonesia Stock Exchange Publication Year 2013-2019. JIA (Jurnal Ilmiah Akuntansi), 6(2), 491-515.
Tan, Y., & Floros, C. (2012). Bank profitability and inflation: the case of China. Journal of Economic studies, 39(6), 675-696.
Ujah, N.U., Brusa, J., & Okafor, C.E. (2017). The influence of earnings management and bank structure on bank performance: International evidence, Managerial Finance, 43(7), 761-773. https://doi.org/10.1108/MF-12-2015-0329
Verrecchia, R.E. (1983). Discretionary disclosure, Journal of Accounting and Economics, 5, 179-194.
Zainuldin, M. H., & Lui, T. K. (2020). Earnings management in financial institutions: A comparative study of Islamic banks and conventional banks in emerging markets, Pacific-Basin Finance Journal, 62, 101044.
Zang, A. (2012). Evidence on the trade-off between real activities manipulation and accrual-based earnings management.The Accounting Review, 87(2), 675–703.
Published
2025-02-20
How to Cite
Arafat, Q. Y., Rashid, A., & Khan, M. A. (2025). Consequences of Earnings Management for Islamic Banks: Evidence from Worldwide, the GCC, and the ASEAN Region. Islamic Banking and Finance Review, 11(2), 70-99. Retrieved from https://journals.umt.edu.pk/index.php/IBFR/article/view/6185
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Copyright (c) 2024 Dr. Qazi Yasir Arafat
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