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Corporate governance (CG) is an ongoing interesting topic getting the attention of market participant, business regulators and researchers in today’s business environment. The purpose of this study is to analyze the moderating role of earnings management on CG-value and CG-risk relationship in the emerging economy of Pakistan.

A panel data analysis is used in this study. A panel data of 71 non-financial listed companies of Pakistan for the 2008-2017 period is considered for this study. Secondary data is collected from the annual reports of non-financial firms listed on PSX. Seven econometric equations are developed to test the research hypothesis.

The results reveal that CG significantly enhances the firm value and performance measures. Moreover, CG mitigates the practices of earning management and eliminates the risk that develops opportunistic behavior among managers to commit frauds.

The results of this study suggest that the board of directors (BODs) should intensify their governance role and ensure that the executives perform their duties to maximize the wealth of the shareholders and not engage in any misrepresentation of accounts that may lower the company position and decrease the firm value. Moreover, the managers should be informed about their accountability and acknowledged that at the end of the year, they would be audited by an expert’s auditors for their responsibilities. Concerning regulatory bodies, regulatory authorities should ensure that there must be at least one independent member on the board. The better-governed system reduces both agency conflicts and enhances firm value.

A number of studies have already been undertaken by multiple investigators to build connection among CG with firm performance, but there is not even a single study in the literature that considers CG, firm value, firm Risk and discretionary earning management as a whole in one model to generalize its results in the emerging economy of Pakistan. A fundamental element of current analyzation process addresses that this is the very first graft of study conducted in Pakistan having combination of four variables together in one revision. There is minimal work that focuses on moderating effects of earning management on the CG-value and CG-risk relationships. This study uses two standard measures of firm performance (i.e. ROA and Tobin’s Q), one proxy of earning management (DEM) and three attributes of CG (board size, audit quality and ownership structure). Previously, researchers have not investigated a model that combines variables (CG as independent and Firm performance and Firm Risk as dependent along with DEM as moderator) in a single study.

There are many potential measures of performance for evaluating the success of a construction project. All address performance in three key areas: scope, schedule and budget. In a performance measurement framework where senior management wishes to minimise the numberof performance measures it employs, while ensuring maximal coverage or visibility into the programme, having a tool that captures each of the three areas would be ideal. Project managers have used Earned Value Management (EVM) for over 40 years to track actual schedule progress and actual costs against project plans. Earned Value Management has traditionally been applied to individual projects on which the manager is accountable for both schedule and cost variances. This paper proposes methods to apply EVM principles to allow: (1) analysis of portfolios of construction projects; (2) incorporation of the analysis into an innovative pay‐for‐performance human resources practice; and (3) use of regression analysis to develop baseline earned value curves. These extensions fit the needs of many government managers, who oversee a range of projects by multiple contractors, and whose cost risk is primarily due to schedule slips and change orders. Earned Value Management is described in the context of project oversight, and a dashboard system of performance measures is proposed for quickly assessing individual projects and portfolios. A method of generating standardised planned value curves is then specified, based on data from previous and ongoing projects. The paper concludes by showing how the US General Services Administration’s Public Buildings Service is using these methods to analyse and oversee its portfolio of new construction and major repair and alteration projects.

This study examines the role of the observable and unobservable characteristics of top management on earning management and firm risk in China.

The authors used manager-firm matched panel for 104 non-financial firms listed on the Shanghai Stock Exchange between 2010 and 2018. The authors also trace the persistence of managerial financial styles and their active role across two different firms between which managers switched during the sample period.

The results show that managers' financial styles indeed influence earning management and firm risk and that this influence differs across different managers. These findings are robust when tested for the persistence and active role of managers. Furthermore, individual characteristics such as age, gender, qualification and experience influence managers' financial styles.

Given their findings, the authors propose that financial analysts and potential investors should not only depend on quantitative data but also consider the individual characteristics of managers when evaluating firms.

The findings of this study carry serious implications for managers, policymakers and potential investors. The findings assist the external auditors in measuring the risk of material misstatement, the various regulatory bodies to assess the quality of financial reporting and the users of financial statements to evaluate the earnings and make further investment decisions considering not only the quantitative data but also the individual characteristics of top managers.

The current study examines the observable and unobservable characteristics of top management on firm risk and earnings management in Chinese context.

This study aims to clarify the relationship between ethical orientation and earnings management perception phenomenon in the organization. It discusses to what extent earnings management is considered as a strategic adaptation or deliberate manipulation in an organization. The study also aims to expand the domain of ethical perspective of earnings management by considering mediating and moderating role of investor sentiment and corporate social responsibility (CSR) as inward pressure and outward commitment surrounding the organization, adopting a combined perspective of strategic management and also accounting discipline than is normally found in the ethics and earnings management literature.

The study opted for literature synthesis to define key concepts surrounding ethics and earnings management perception in the organization. Besides, it attempted to identify influential mediators and moderators in explaining the earnings management phenomenon in the organization. Consequently, the study identified the gaps in current research to draw upon a more holistic conceptual framework. The rationale for the research was justified within the body of research.

The study suggested research propositions based on the literature synthesis in view of ethics and earnings management perception in the organization. More specifically, it has proposed a conceptual framework, explaining the relationship between ethical orientation and a multi-dimensional view of earnings management perception. It is envisaged that the mediating and moderating role of investor sentiment and CSR incorporated in this conceptual study will improve the predictive value of the proposed framework and offer additional insights about factors that inhibit or advance ethical orientation and earnings management practices in the organization.

This paper suffers from the obvious limitation of lacking empirical investigation. However, it does provide a theoretical rationale for the argument that alteration of earnings can be controlled if ethical orientation is emphasized in the organization apart from insulating internal and external pressures to manage such phenomenon from happening in the organization. Perhaps, the most important direction for future research is further extension and validation of this framework by performing an empirical investigation to produce newer insights into this phenomenon.

This conceptual study is different from previous studies on the grounds it has considered unexplored issues linking inward pressures and outward commitments in explaining this phenomenon further. To bridge the critical knowledge gap of earnings management phenomenon, a mediating effect of investor sentiment as an inward pressure and a moderating role of CSR as an outward commitment are also integrated within the model. The proposed model neither formulated nor tested empirically in previous studies locally or, perhaps, globally, therefore, stands out as an original contribution in the study of ethical orientation and earnings management perception.

The Ariba Implementation at MED-X case is designed to teach students how to analyze a program that is experiencing problems and recommend solutions. Specifically, the case introduces students to earned value analysis and program oversight for an e-procurement technology program. The case centers on MED-X's need to quickly discover why the company's e-procurement implementation project was not going according to plan. Once a cause has been discovered, students will need to make a recommendation to fix the problem. Data for the simplified program, consisting of two concurrent projects, is given to students, who should in turn analyze the project using earned value analysis. The case is an easy introduction to program management and oversight for executives and MBA students, and teaches the essentials of earned value project management.

Students will learn how to control and act in oversight of large complex programs, as well as how to apply earned value metrics to analyze a simplified program consisting of two projects. Analyzing the project enables students to learn the strengths and pitfalls of the earned value approach. From a management decision perspective, the case gives students the tools to succinctly answer the questions: How much will the project cost? How long will it take? What is wrong with the project?

This paper aims to investigate empirically the eight-variables Beneish M-model to identify occurrence of financial statement fraud or tendency to engage in earning manipulation.

A data set of 25,468 companies (Société Anonyme and Limited Liability Companies) in Greece was analyzed during two-year period of 2011-2012. Financial statements of banks are excluded.

The results showed that 8,486 companies or 33 per cent of the whole sample has a greater than −2.2 score, which is a signal that companies are likely to be manipulators. Also, for manipulators, results using F-distribution showed that days sales in receivable index (DSRI), asset quality index (AQI), depreciation index, selling, general and administrative expenses index (SGAI), total accruals to total assets index and leverage index (LVGI) are significant at 99 per cent confidence level in its effect on Beneish M-score. Also, there is a significant relationship between earning management, as expressed by Beneish M-score and each one of variables, DSRI, AQI, gross margin index, sales growth index, SGAI and LVGI. Most of all, DSRI explains 95.92 per cent of the variation in Beneish M-score in statistical terms.

Results are important for banking system, because financial statements information influence credit decisions of banks. Debt agreements include terms based upon accounting numbers. Also, using Beneish Model, it is a cheap and easy way for examiners of possible fraudulent activity.

To the best of the author’s knowledge, there is a great lack of research in Greece, using Beneish model. There is only one more study using the Beneish model, examining only a few companies listed in Athens Stock Exchange during 1999-2000. Findings have also important implications not only for banks but also for users of Greek financial statement accounts, especially to investors, auditors, regulators, to taxation and other state authorities.

The study aims to analyze the effect of financial soundness on financial performance of commercial banks in Kenya.

The study used dynamic panel model to analyze data from commercial banks for the period 2009 to 2020. The study was modeled on the concept of CAMEL approach using five CAMEL variables as financial soundness indicators. Four indicators that is, net interest margin (NIM), earnings per share (EPS), return on assets (ROA) and return on equity (ROE) were used as measures of financial performance.

Generalized method of moments results established that financial soundness had a statistically significant effect on NIM, ROA and ROE. It was also found that asset quality and earning quality had a statistically significant effect on net interest margin. In addition management efficiency had significant effect on ROE. However, the study established that capital adequacy, asset quality, earning quality and liquidity had a statistically insignificant effect on ROA and ROE respectively while capital adequacy, management efficiency and liquidity had statistically insignificant effect on NIM.

Bank managers should put into place effective financial policies to govern changes in CAMEL variables to ensure optimal banks' financial soundness to facilitate positive growth in banks' financial performance.

The current study is modeled on the concept of the CAMEL approach by employing the five CAMEL variables as financial soundness indicators. In addition, the study contributes to local literature by examining banks in a developing economy to provide reliable and relevant information on their differences to monitor their dynamics in financial soundness and financial performance which could not be provided by regional or global studies.

The current study aims to achieve two targets. First, examine empirically that whether corporate managers use tax avoidance to influence short-term profitability? Second, investigate the impact of tax avoidance on the value of firms. The tax accounts provide the opportunity to influence temporary/permanent profitability but empirical studies overlooking this matter, particularly in emerging economies.

First, the authors identified unexpected fluctuations of tax avoidance and then examine whether it impacts the profitability signal and firms' value? The unbalanced panel data of 189 non-financial firms for the period 2000–2018 are used for empirical analysis. The estimation biases and results consistency are verified by using two different econometric models including generalized least square and two-stage least square

The study identifies that managers manipulate the profitability signal through tax avoidance. Tax avoidance practices help in earning management and earning smoothing to avoid negative signals in the stock market. In line with the behavioral finance view, tax avoidance has a positive impact on current stock returns because investors focus on profitability without a detailed screening of cash flows.

A limited number of studies investigate the use of tax avoidance for manipulation of the short-term earning signal. Identifying gaps and limitations in the literature, this study provides invaluable insights into tax avoidance and its association with the profitability and value of firms. The findings are important for investors, managers and policymakers in making portfolio decisions and corporate policies.

This study aims to review earned value management (EVM)-relative methods, including the original EVM, earned schedule method (ESM) and earned duration management (EDM(t)). This study then proposes a general implementation procedure and some basic principles for the selection of EVM-relative methods.

After completing an intensive literature review, this study conducts a case study to examine the forecasting performance of project duration using the EVM, ESM and EDM(t) methods.

When the project is expected to finish on time, ESM with a performance factor equal to 1 is the recommended method. EDM(t) would be the most reliable method during a project's entire lifetime if EDM(t) is expected to be delayed based on past experience.

As this research conducts a case study with only one building construction project, the results might not hold true for all types of construction projects.

EVM, ESM and EDM(t) are simple and data-accessible methods. With the help of a general implementation procedure, applying all three methods would be better. The power of the three methods is definitely larger than that of choosing only one for complex construction projects.

Previous studies have discussed the advantages and disadvantages of EVM, ESM and EDM(t). This study amends the available outcomes. Thus, for schedulers or researchers interested in implementing EVM, ESM and EDM(t), this study can provide more constructive instructions.

Earned value management systems (EVMS), also called integrated project and program management systems, have been greatly examined in the literature, which has typically focused on their technical aspects rather than social. This study aims to hypothesize that improving both the technical maturity of EVMS and the social environment elements of EVMS applications together will significantly impact project performance outcomes. For the first time, empirical evidence supports a strong relationship between EVMS maturity and environment.

Data was collected from 35 projects through four workshops, attended by 31 industry practitioners with an average of 19 years of EVMS experience. These experts, representing 23 organizations, provided over 2,800 data points on sociotechnical integration and performance outcomes, covering projects totaling $21.8 billion. Statistical analyses were performed to derive findings on the impact of technical maturity and social environment on project success.

The results show statistically significant differences in cost growth, compliance, meeting project objectives and business drivers and customer satisfaction, between projects with high EVMS maturity and environment and projects with poor EVMS maturity and environment. Moreover, the technical and social dimensions were found to be significantly correlated.

Key contributions include a novel and tested performance-driven framework to support integrated project management using EVMS. The adoption of this detailed assessment framework by government and industry is driving a paradigm shift in project management of some of the largest and most complex projects in the U.S.; specifically transitioning from a project assessment based upon a binary approach for EVMS technical maturity (i.e. compliant/noncompliant to standards) to a wide-ranging scale (i.e. 0–1,000) across two dimensions.