This paper analyses the effect of Hofstede’s cultural dimensions on earnings management on 433 firms in 18 european countries, all reporting under IFRS. The results of multivariate regression reveal that only one cultural variable, namely Power Distance, has a significant effect on earnings management measured by discretionary accruals. In contrast, the scores for Individualism and Masculinity have no significant influence. These findings suggest that culture still has an influence on earnings management as suggested by previous studies, but is diminishing due to international accounting har-monization.
Table of Content
List of Tables
List of Figures
List of Variables
1. Introduction and Background
1.1 Hofstede’s cultural dimensions
1.2 Hypotheses
2. Research Design
2.1 Measurement of earnings management
2.2 Model specification
3. Sample Data and univariate analysis
3.1 Sample selection
3.2 Descriptive statistics
4. Results of the multivariate regression
4.1 Pooled sample
4.2 Results for each year
5. Conclusion
Appendix
References
Sources of Law
Source materials
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