The main objective of the current study is to examine the relationship between financial reporting quality and liquidity synchronization within the BRICS countries. The BRICS countries include Brazil, Russia, India, China, and South Africa. When firms maintain high financial reporting quality, transparency improves, information asymmetry decreases, market efficiency increases, and ultimately both firm-level liquidity and overall market performance improve. This study uses panel data from 2012 to 2023, covering publicly listed firms in the BRICS countries. The Fully Modified Ordinary Least Squares (FMOLS) technique is employed to examine the relationship between financial reporting quality and liquidity synchronization. Liquidity synchronization refers to the extent to which an individual stock moves in tandem with overall market movements. Financial reporting quality is measured using accrual-based and earnings quality measures. The results indicate that firms with higher financial reporting quality exhibit lower liquidity synchronization. This suggests that firm-specific information is incorporated into prices more efficiently, thereby reducing the co-movement of individual stocks with the broader market. This study contributes to the literature by linking financial reporting quality to market microstructure in emerging economies. It also provides valuable implications for policymakers, regulators, and investors to enhance market stability and efficiency within the BRICS countries.

The unique characteristics of emerging markets, alongside the involvement of personal judgement in determining value metrics, make equity valuation in these markets particularly challenging. Using a phenomenological approach, this study seeks the expert opinion of academics on both objective and subjective elements of equity value in these markets. The thematic analysis of their responses reveals that quality of earnings, diverse and distinctive sources of risks in emerging markets to be included in the risk premium, and uncertainty surrounding the growth rate must be carefully assessed and evaluated. While selecting the models, analysts should consider not only integration of emerging markets with global markets but also potential inconsistencies in the model inputs. This study finds that discounted cash flow models are preferred over price-based, relative valuation models because of the instability of the market prices, and within discounted cash flow models, free cash flow models are favored over the dividend discount model. The findings are expected to guide the investors and analysts in the selection of the right valuation metrics and models for accurate equity valuation.

This study examines the impact of accounting conservatism and liquidity on earnings quality, as well as the moderating effect of intellectual capital. Using panel data from 100 profit-generating infrastructure companies listed from 2020 to 2024, the research employs descriptive statistics and moderated regression analysis. The results show that accounting conservatism significantly improves earnings quality, indicating that conservative reporting provides a stronger credibility signal to stakeholders. Conversely, liquidity has no significant effect on earnings quality. Intellectual capital also fails to moderate the effects of either accounting conservatism or liquidity on earnings quality, suggesting that its organizational placement and measurement may not have a direct influence on financial reporting behavior. Theoretically, this study contributes to the refinement of signal theory within the context of earnings reporting, demonstrating that only conservatism, rather than liquidity or intellectual capital, functions as a reliable signal of earnings quality. Practically, the findings highlight the need for firms to strengthen conservatism-based reporting policies to enhance stakeholder trust, and they underscore the importance of developing more precise metrics for evaluating intellectual capital in relation to financial reporting outcomes.

Reisha Putri Nabila (2026). The Effect of Company Size, Capital Structure, and Profitability on Earnings Quality in Food and Beverage Subsector Companies Listed on The Indonesia Stock Exchange. Supervisors : Ms. Dwi Susilowati and Ms. Winda Lestari. The purpose of this study is to the determine the effect of company size, capital structure, and profitability on earnings quality in food and beverage subsector companies listed on the Indonesia Stock Exchange. This study used quantitative research with multiple linear regression analysis. This study used sample 0f 16 companies. The test used to validate this study were the classical assumption test, consisting of normality, multicollinearity, heteroscedasticity, and autocorrelation. Multiple linear regression analysis and ANOVA tests, consisting of the correlation coefficient (R), the coefficient of determination (), and the F-statistic test, were also used. Hypothesis testing consisted of the t-test. The test results show that company size and capital structure do not have a significant effect on earnings quality, while profitability has a significant influence on earnings quality.

This study focuses on companies in the property and real estate sectors listed on the Indonesia Stock Exchange (IDX) from 2020 to 2023. It aims to examine the effect of managerial ownership, earnings persistence, and investment opportunity set on earnings quality. Using secondary data and purposive sampling, this quantitative study selected eight companies as samples. Data were analyzed using multiple linear regression with EViews 12. The results show that managerial ownership, earnings persistence, and investment opportunity set simultaneously have a significant effect on earnings quality. Partially, managerial ownership has no significant effect on earnings quality, while earnings persistence has a significant positive effect, and investment opportunity set has a significant negative effect on earnings quality.

Sectoral Valuation Profiles and Earnings Quality in the Philippine Equity Market: A Descriptive Cross-Sectional Study of PSE-Listed Firms as of End-Q1 2026

Gig platforms have reshaped how work is organised, accessed and governed. Traditional, investor-owned platforms such as Uber and Deliveroo have been criticised for their lack of transparency, labour protections and reliance on algorithmic management, resulting in precarious working conditions and unstable income for platform workers. In response to these common criticisms, a countermovement has emerged: platform cooperativism. Because of their collective ownership structure, where platform workers are worker-members, cooperative platforms have the potential to rebalance platform power and improve working conditions, income stability and worker autonomy. While promising in theory, there is limited empirical evidence of their practical impact on platform work. This article addresses that gap with an exploratory empirical analysis , comparing cooperative and traditional, investor-owned gig platforms across three dimensions: transparency, working conditions and quality of earnings. Based on an empirical document analysis of publicly available platform materials, the study systematically evaluates differences in platform design and practice, and verifies the hypothesis that the cooperative platforms can effectively foster greater transparency, quality of earnings and working conditions than traditional platforms. Findings suggest that the cooperative platforms offer advantages in respect of working conditions, including reduced reliance on algorithmic management and a more worker-centric use of technology. Additionally, they provide higher quality of earnings, not necessarily substantively but primarily through more predictable compensation structures. Lastly, however, while the cooperatives use clearer and more readable language, they have no consistent advantage over the traditional platforms in terms of transparency.

This study aims to analyze the role of dividend policy in moderating the influence of liquidity, firm size, earnings quality, and profitability on firm value in food & beverage subsector companies listed on the Indonesia Stock Exchange, using Signalling Theory and Bird in the Hand Theory as the theoretical foundation. A quantitative approach was employed using secondary data in the form of financial statements published on the Indonesia Stock Exchange website. The research sample was determined through purposive sampling and analyzed using Moderated Regression Analysis (MRA). The results show that firm size, profitability, and dividend policy contribute to increasing firm value, while liquidity and earnings quality have not become determining factors in the formation of firm value. In the interaction testing, dividend policy only strengthens the relationship between firm size and firm value, but does not strengthen the relationship between liquidity, earnings quality, or profitability and firm value. These findings indicate that in the food & beverage subsector, the market responds more strongly to company scale and the ability to generate profits as primary signals of performance and business prospects, while dividend policy functions as a value enhancing factor, particularly for companies with large size and established business positions.

The research examined the influence of board committee attributes, audit committee (AC) and risk management committee (RMC), and external audit quality (EAQ) on earnings management. It also investigated the moderating influence of EAQ. The research used a sample of 61 banks registered in the Gulf Cooperation Council (GCC) nations (Qatar, the UAE, Kuwait, Saudi Arabia, Bahrain, and Oman) spanning the years 2010 to 2020. The findings indicated that certain attributes of ACs and RMCs significantly enhanced earnings quality. Moreover, the calibre of external audit serves as an ancillary mechanism to the function of board committees in enhancing the transparency and integrity of financial reporting. Hence, this study offers clear theoretical insights by establishing a comprehensive framework that combines internal and external corporate governance methods to improve earnings quality. This study also offers valuable insights for decision-makers and regulators in the GCC regarding the development of legislation and regulations for board committee formation and the enforcement of stricter standards for external auditing quality.

The purpose of the study is to examine the association between earnings management and audit quality of Two hundred sixty-eight (268) business group firms from 2016 to 2021. The study has taken both accrual-based earnings management and a composite proxy for real earnings management to estimate the earnings management practices of the Indian business group firm. BIG_4 is used as a dummy variable for measuring the audit quality of firms. To examine the association between earnings management and audit quality, Panel fixed effect model is used. The results signify that audit quality is negatively associated with earnings management. This finding indicates that business group firms are quite concerned about earnings quality and less likely to be involved in earnings management practices for India. The result would draw the attention of law makers, policy makers and government regarding the loopholes of principles-based accounting. Especially, the result would help the accounting standard setter to change and rectify the present system of accounting principles.

This study explores how board characteristics impact corporate cash flow risk in an emerging market setting. While previous research has examined firm risk, crash risk, and earnings quality, there is limited evidence on cash flow risk and its governance factors, especially in developing economies. To fill this gap, this study differentiates between volatility-based and distortion-based measures of cash flow risk and assesses how board attributes influence these aspects. Using a balanced panel of 327 non-financial firms listed in Vietnam from 2013 to 2023, cash flow risk is measured by the rolling five-year volatility of operating cash flows and short-term distortions shown in earnings–cash flow mismatches. To address endogeneity and dynamic persistence, the analysis uses the system generalized method of moments estimator, along with fixed-effects and feasible generalized least squares models for robustness. The findings suggest that board independence, gender diversity, and financial expertise are linked to lower cash flow risk, highlighting the importance of effective monitoring. Conversely, board meeting frequency is positively linked to risk, suggesting that boards tend to increase meeting frequency as a reactive response to heightened uncertainty. Board size and CEO duality do not show consistent effects. Focusing on Vietnam’s institutional context, this study provides evidence that governance mechanisms influence different dimensions of cash flow risk through separate channels, offering valuable insights for enhancing board effectiveness in emerging markets.

This descriptive quantitative study aims to examine the effects of accounting conservatism, institutional ownership, and foreign ownership on the earnings quality of manufacturing companies. From the population of manufacturing companies listed on the Indonesia Stock Exchange during the 2019–2023 period, 51 companies were selected as samples through purposive sampling. The results of multiple linear regression analysis show that accounting conservatism and institutional ownership have positive effects on earnings quality, and earnings management strengthens the effect of institutional ownership on earnings quality. However, this study does not find any positive effect of foreign ownership on earnings quality, nor evidence that earnings management strengthens the effect of foreign ownership on earnings quality. Based on these findings, this study suggests that manufacturing companies consider applying the principle of accounting conservatism to improve earnings quality.

This study examines the effect of integrated reporting (IR) adoption on earnings quality, addressing ongoing debates on whether IR represents a substantive improvement in financial reporting or a symbolic disclosure practice. Using a quasi-experimental design, the study employs a difference-in-differences (DiD) approach alongside matched sample analysis to identify the causal impact of IR adoption. The sample consists of publicly listed firms observed over multiple years, comparing IR adopters with non-adopters before and after adoption. Earnings quality is measured using discretionary accruals, where lower values indicate higher reporting quality. The results show that IR adoption is associated with a statistically and economically significant reduction in discretionary accruals, suggesting improved earnings quality. These findings remain robust after controlling for firm characteristics, applying propensity score matching, and conducting multiple robustness tests, including alternative earnings quality measures and parallel trend analyses. The results support predictions from agency, stakeholder, and signaling theories, indicating that enhanced disclosure and accountability under integrated reporting constrain managerial opportunism. This study contributes to the literature by providing causal evidence on the reporting consequences of IR adoption and offers important implications for regulators, standard setters, and corporate managers regarding the role of integrated reporting in improving transparency and reporting discipline. Ding rigorous causal evidence on the financial reporting implications of integrated reporting adoption.

In an increasingly complex business environment, earnings quality is influenced not only by operational performance but also by various internal and external factors of a company. This study aims to analyze the effect of accrual earnings management, firm size, and audit quality on earnings quality in manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the period of 2021 to 2023. Earnings quality is an important indicator in evaluating a company's financial performance and serves as a basis for investors' decision-making. This research employs a quantitative approach using multiple linear regression analysis. The sample was selected using purposive sampling, with secondary data derived from companies’ annual financial reports. Based on agency theory, there is a conflict of interest between managers and owners, which encourages managers to maximize earnings quality by utilizing various internal and external factors. Accrual earnings management, audit quality, profitability and firm size serve as external monitoring mechanisms to mitigate conflicts between managers and owners. The results indicate that accrual earnings management has a positive and significant effect on earnings quality. However, firm size and audit quality do not have a significant effect on earnings quality. Nevertheless, simultaneously, all three independent variables are proven to have a significant effect on earnings quality. These findings suggest that accrual management practices play a crucial role in enhancing the quality of earnings information, while firm size and audit quality have not yet made a meaningful contribution in this context. This study has implications for companies to adopt greater transparency in financial reporting practices, and for investors to consider internal factors affecting earnings quality. The results are also expected to serve as an academic reference for future research in the field of financial accounting.

This study aims to analyze the effect of earning growth, the reputation on public acconting firms(PAFs),firm size,and female CEOs on earnings quality. Earnings quality is an important indicator in assessing the reliability of earning information that reflects a company’s actual economic condition. This study is based on agency theory,which explains the potential conflict of interest between management and shareholders,thereby emphasizing the need of effective monitoring mechanisms to improve earnings quaity. The population of this study consists of healthcare sector companies lited on the indonesia stok exchange (IDX) during the 2021-2024 period. The sampling technique used is purposive sampling,resulting in asample of companies that meet the research criteria. The data used are secondary data obtained from companies’ financial statements and annual reports. Multiple linear regression analysis is employed as the data analysis method. Earnings quality ia measured using the ratio of operating cash flow to net reputation of PAFs and CEOs are measured using dummy variables, and firm size is measured using the natural logarithm of total asset. From the research results, it can be concluded that profit growth, KAP reputation, company size, and female CEOs have a negative and significant effect on profit quality.

This study investigates how earnings quality (EARNQUAL) is influenced by liquidity, corporate social responsibility (CSR), and profitability, with the audit committee (AC)considered as a moderating factor. This research employs a quantitative design and utilizes secondary data from the Indonesia Stock Exchange (IDX), ESGI database, and public company reports. During the 2019–2022 period, the sample observed 140 companies from industrial and basic materials companies listed on the IDX. Data analysis was performed using SPSS 26.0. This research is based on agency, stakeholder, and legitimacy theories. Despite extensive prior research on earnings quality determinants, empirical evidence on the moderating effectiveness of audit committees in emerging market settings remains inconclusive. The empirical results demonstrate that profitability exerts a positive and statistically significant impact on earnings quality. Conversely, CSR is not found to be significantly associated with earnings quality, while liquidity exhibits a negative effect. Furthermore, the moderation test indicates that the audit committee does not enhance the effects of profitability, CSR, or liquidity on earnings quality. This study contributes to the accounting literature by clarifying the limited governance role of audit committees in enhancing earnings quality when governance structures are homogeneous. The findings imply that strengthening earnings quality in Indonesian firms requires not only formal governance mechanisms but also improvements in the substantive effectiveness of audit committee oversight

Purpose: The study investigated the effect of accrual-based earnings management on the firm value of listed industrial goods companies in Nigeria. Methodology: The study employed an ex-post facto research design, and secondary data were obtained from a sample of 12 listed industrial goods companies between 2012 and 2023. The descriptive statistics and regression techniques were used for data analysis with the aid of STATA version 16.0. Results and conclusion: The study found that accrual-based earnings management significantly reduced the firm value measured by Tobin’s Q. The study concluded that the effect of accrual-based earnings management on firm value in Nigeria is firm-specific, and the negative relationship views it as value-destroying. Implication of findings: The study recommended that regulatory authorities should toughen supervision and enforcement of financial reporting standards, while managers of companies, especially the listed industrial goods companies, should heighten corporate governance practices, mostly audit quality and board oversight, to mitigate earnings manipulation. Furthermore, investors should place greater emphasis on the quality of earnings rather than reported profits when making investment decisions.

Corruption is notably the most prevalent in Indonesia. State-Owned Enterprises (SOEs) represent the second most affected sector by fraudulent activities. This study aims empirically examine the relationship between the elements of the fraud hexagon and corruption. The research focuses on SOEs listed on the Indonesia Stock Exchange between 2001 and 2023, 459 observations were selected using a purposive sampling technique. Data were collected through documentation methods and analyzed using multiple logistic regression analysis. The analyzed result reveal that pressure and rationalization show a negative relationship with corruption. Opportunity and collusion show a positive relationship with corruption. The capability and ego element, however, does not exhibit a significant relationship with corruption. These results provide additional insights and empirical evidence on how opportunity and collusion contribute to corruption. Furthermore, the implications of this study offer meaningful contributions to SOEs, investors, prospective investors, and policymakers, supporting efforts to strengthen governance and prevent corruption in key public sector institutions.

This study aims to examine the effect of earnings quality, leverage, and return on assets on corporate cash holdings, with institutional investors acting as a moderating variable in food and beverage companies listed on the Indonesia Stock Exchange during the 2020-2024 period. This research uses a quantitative approach with secondary data obtained from companies’ annual financial reports. The sample consists of 21 companies selected through purposive sampling, resulting in 105 firm-year observations. The data were analyzed using panel data regression with Moderated Regression Analysis (MRA). The results show that earnings quality and leverage have a negative and significant effect on corporate cash holdings, while return on assets has a positive but insignificant effect. Institutional investors moderate the relationship between earnings quality and leverage with corporate cash holdings by weakening their negative effects. However, institutional investors do not moderate the relationship between return on assets and corporate cash holdings. This study provides empirical evidence on the role of institutional investors in influencing corporate cash holding policies.

This study examines the relationship between environmental, social and governance (ESG) risk ratings and earnings management (EM) in 450 United Kingdom (UK) listed companies in 2024, taking firm size as a moderator. Based on the cross-sectional regression analysis and discretionary estimated accruals via the modified Jones model, the results show a statistically weak relationship between ESG ratings and EM. Contrary to a significant part of the previous literature that records an inverse relationship between ESG performance and earnings manipulation, the findings indicate that ESG ratings in the UK do not translate into earnings quality. Moreover, firm size does not have a direct influence on the EM; neither does it moderate the relationship between ESG and EM. The findings are relevant to the sustainability literature as they indicate the complexity of ESG performance and earnings quality, suggesting that ESG ratings are limited in terms of predicting financial reporting integrity in developed regulatory contexts.