خلاصة:
The purpose of this paper is to investigate the association between the intellectual capital of firms and their earnings quality. The Research was conducted with 158 accepted companies and 948 firm-year observations from Iran stock market. Empirical studies were conducted based on hypothesis by Value Added Intellectual Coefficient as measures of intellectual capital and taking absolute value of Discretionary Accruals as measures of earnings quality.
The results of statistical test show that intellectual capital and its human capital component have a significant positive impact on earnings quality and lead us to conclude that intellectual capital has a positive role in financial practices and reporting.
ملخص الجهاز:
"2 Research Model and Measurement of Variables In order to test our hypotheses the following models is used: DAi,t = β0 + β1VAICi,t + β2LEVi,t + β3SIZEi,t + εi,t (1) DAi,t = β0 + β1CEEi,t + β2HCEi,t + β3SCEi,t + β4LEVi,t + β5SIZEi,t + εi,t (2) Where |DAi,t | represents the discretionary accruals as a proxy of earnings quality; VAICi,t represents the intellectual capital and includes three components of capital employed (CEEi,t), human capital (HCEi,t), and structural capital (SCEi,t).
These variables include the absolute value of discretionary accruals –proxy of earnings quality- (|DA|), intellectual capital (VAIC), capital employed efficiency (CEE), human capital efficiency (HCE), structural capital efficiency (SCE), leverage (LEV) and firm size (SIZE).
The effect of Intellectual Capital and its components on absolute value of (به تصویر صفحه مراجعه شود) In this Table, we report the results from estimating models (1) and (2): DAi,t = β0 + β1VAICi,t + β2 LEVi,t + β3SIZEi,t + εi,t (1) DAi,t = β0 + β1CEEi,t + β 2 HCEi,t + β3SCEi,t + β 4LEVi,t + β5SIZEi,t + εi,t (2) Where |DAi,t | represents the discretionary accruals as a proxy of earnings quality; VAICi,t represents the intellectual capital and includes three components of capital employed (CEEi,t), human capital (HCEi,t), and structural capital (SCEi,t).
To achieve this goal, first the data required to calculate the intellectual capital (IC) and its components as the independent variable, absolute value of discretionary accruals –proxy of earnings quality- (|DA|) as the dependent variable and finally leverage (LEV) and firm size (SIZE) as control variables have been collected for 158 companies listed on Tehran Stock Exchange."