Ivana Bešlić Rupić – Alfa BK University, 3 Palmira Toljatija, 11070 Belgrade, Serbia
Dragana Bešlić Obradović – Alfa BK University, 3 Palmira Toljatija, 11070 Belgrade, Serbia
Bojan Rupić – Kapital revizija doo, 1 Vojvode Mišića, 21000 Novi Sad, Serbia
Keywords: Earnings quality, Earnings management, Financial performances, Serbian hotels.
REFERENCES
Aharony, J., Barniv, R., & Falk, H. (2010). The impact of mandatory IFRS adoption on equity valuation of
accounting numbers for security investors in the EU. European Accounting Review, 19(3), 535-578.
Altman, A. (1968). Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. The
Journal of Finance, 23(4), 589-609.
Anwer, S.A., Michael J.N., & Dechun, W. (2013). Does mandatory adoption of IFRS improve accounting
quality? Preliminary Evidence. Contemporary Accounting Research, 30(4), 1344-1372.
Avci, U., Madanoglu, M., & Okumus F. (2011). Strategic orientation and performance of tourism firms:
Evidence from a developing country. Tourism Management, 32(1), 147-157.
Ball, R., Robin, A., & Wu, J.S. (2003). Incentives versus standards: properties of accounting income in
four East Asian countries. Journal of Accounting and Economics, 36(1), 235-270. DOI: 10.1016/j.
jacceco.2003.10.003.
Barker, R., & Imam, S. (2008). Analysts’ perceptions of earnings quality. Accounting and Business Research,
38(4), 313-329.
Baxter, P., & Cotter, J. (2009). Audit committees and earnings quality. Accounting & Finance, 49(2), 267-
290.
Becker, C.L., DeFond, M.L., Jiambalvo, J., & Subramanyam, K.R. (1998). The effect of audit quality on
earnings management. Contemporary Accounting Research, 15(1), 1-24.
Biddle, G.C., Hillary, G., & Verdi, R.S. (2009). How does financial reporting quality relate to investment
efficiency. Journal of Accounting and Economics, 43(2-3), 112-131.
Bodie, Z., Kane, A., & Marcus, A.J. (2013). Investments, Singapore: Global Edition ed., McGraw-Hill/
Irwin.
Burca, V., & Mates, D. (2015). Implications of IFRS adoption on earnings quality, empirical case for Romanian
environment. Annales Universitatis Apulensis Series Oeconomica, 1(17), 1-5.
Callao, S., Jarne, J., & Wroblewski, D. (2014a). Debates and studies on earnings management: a geographical
perspective. Theoretical Journal of Accounting (Zeszyty Teoretyczne Rachunkowości), 75, 145-
169.
Callao, S., Jarne, J., & Wroblewski, D. (2014b). The development of earnings management research. A
review of literature from three different perspectives. Theoretical Journal of Accounting (Zeszyty
Teoretyczne Rachunkowości), 79, 135-177.
Callao, S., Jarne, J.I., & Wróblewski, D. (2019). A new perspective on earnings management in emerging
European countries: Investigation on environmental factors that explain differences in earnings
management. Journal of Accounting, Business and Finance Research, 7(2), 59-81.
Caramanis, C., & Lennox, C. (2008). Audit effort and earnings management. Journal of Accounting and
Economics, 45, 116-138.
Center for the Financial Reporting Reform. (2015). Report on the Observance of Standards and Codes on
Accounting and Auditing – Republic of Serbia. Vienna, Austria: World Bank
Chan, K., Chan, L., Jegadeesh, L. & Lakonishok, J. (2006). Earnings quality and stock returns. Journal of
Business, 79, 1041–1082.
Chung, R., Firth, M., & Kim, J.B. (2002). Institutional monitoring and opportunistic earnings management.
Journal of Corporate Finance, 8(1), 29-48.
Cohen, J.W. (1988). (2nd ed.). Statistical Power Analysis for the Behavioral Sciences. Hillsdale, NJ: Lawrence
Erlbaum Associates.
Deegan, C. (1996). Australian Financial Accounting, Sydney: McGraw-Hill.
Djate, A., Gao, G., Sarikas, R., Senteney, L.D. (2011). Eastern and Western European firms public and private
information quality: The comparative impact of degree of implementation of IFRS. Emerging
Markets Review, 12(2), 111-129.
Gaio, C. (2010). The relative importance of firm and country characteristics for earnings quality around the
world. European Accounting Review, 19(4), 693-738.
Gombolaa, J.M., Amy, H., Chin-Chuan, H. (2016). The effect of leverage and liquidity on earnings and
capital management: Evidence from U.S. commercial banks. International Review of Economics
and Finance, 43(1), 35-58. https://doi.org/10.1016/j.iref.2015.10.03.
Hai-Yen C., Li-Heng L., Hui-Fun Y. (2019). Market power, competition and earnings management: accrual-
based activities. Journal of Financial Economic Policy, 11(3), 368-384.
Healy, P.M. (1999). Discussion of earnings-based bonus plans and earnings management by business unit
managers. Journal of Accounting and Economics, 26(1-3), 143-147.
Iatridis, G., & Kadorinis, G. (2009). Earnings management and firm financial motives: A financial investigation
of UK listed firms. International Review of Financial Analysis, 18(4), 164-173.
Indracahya, E., & Anggraini, D. (2017). The effect of good corporate governance elements, leverage, firm
age, company size and profitability on earning management (empirical study of manufacturing companies
in Bei 2014 – 2016). Profita, 10(2), 203–227.
Itoh, K. (2007). Corporate Valuation, Tokyo: Nihon Keizai Shimbun-sha.
Jayaraman, S. (2008). Earnings volatility, cash flow volatility, and informed trading. Journal of Accounting
Research, 46(4), 809-851.
Kalaš, B., Mirović, V., Pavlović, N. (2019). Profitability determinants of hotel industry in AP Vojvodina. In
V. Bevanda & S. Štetić (Eds.), 4th International Thematic Monograph: Modern Management Tools
and Economy of Tourism Sector in Present Era (pp. 47-62). Belgrade: Association of Economists
and Managers of the Balkans with Faculty of Tourism and Hospitality, Ohrid, North Macedonia.
https://doi.org/10.31410/tmt.2019.
Kalayci, S. (2005). (1st ed.). SPSS Applications, Multi-variables Statistics Techniques. Ankara Turkey:
Asil Publish.
Khalil, M. & Simon, J. (2014). Efficient contracting, earnings smoothing and managerial accounting discretion.
Journal of Applied Accounting Research, 15 (1), 100-123.
Kirschenheiter, M., & Melumad, N. (2004). Earnings’ quality and smoothing. Working paper Columbia
Business School. Retrieved from: https://pdfs.semanticscholar.org/71eb/7322d59bee32d20ec-
789cd809575eedea9d7.pdf.
Klein, A. (2002). Audit committee, board of director characteristics, and earnings management. Journal
of Accounting and Economics, 33(3), 375-401.
Koch, B.S. (1981). Income smoothing: An experiment. The Accounting Review, 56, 574-586.
Leuz, C., Nanda, D.J., & Wysocki, P. (2003). Earnings management and investor protection: An international
comparison. Journal of Financial Economics, 69(3), 505-527.
Miller, E.J. (2009). The development of the Miller ratio (MR): A tool to detect for the possibility of earnings
management (EM). Journal of Business & Economics Research, 7(1), 79-90.
Mohammadi, F., & Amini, P. (2016). Investigating the Relationship between financial distress and earnings
management in corporations of accepted in Tehran Stock Exchange. International Academic
Journal of Accounting and Financial Management, 3(6), 41- 50.
Morteza, A., Daryosh J., & Hosin S. (2014). The relationship between pay policy dividends and earnings
quality firms. International Research Journal of Applied and Basic Sciences, 8(6), 667-674.
Park, Y.W., & Shin, H.H. (2004). Board Composition and Earnings Management in Canada. Journal of
Corporate Finance, 10(3), 431-457.
Parte-Esteban, L., & Devesa, M.J. (2011). Earnings management in the Spanish hotel industry. Cornell
Hospitality Quarterly, 52(4), 466-479.
Rahman, M.M., Moniruzzaman, M., & Sharif, M.J. (2013). Techniques, motives and controls of earnings
management. International Journal of Information Technology and Business Management, 11(1),
22-34.
Ratnanigrum, R. (2016). The influence of profitability and income tax on income smoothing rankings.
Jurnal Bisnis & Manajemen, 17(2), 133-143.
Ronen, J., Tzur, J., & Yaari, V. L. (2006). The effect of directors’ equity incentives on earnings management.
Journal of Accounting and Public Policy, 25(4), 359-389.
Roychowdhury, S. (2006). Earnings management through real activities manipulation. Journal of Accounting
and Economics, 42(3), 335-370.
Schipper, K. (1989). Commentary on earnings management. Accounting Horizons, 3(4), 91-102.
Scott, W.R. (2009). (Fifth ed.). Financial accounting theory. Prentice Hall, New Jersey: Upper Saddle
River.
Tapia, A.B., & Taskón Fernández, M. (2011). Accruals, cash flows and earnings in European privately held
firms. Pecvnia Monográfico, 133-156.
Watts, R., & Zimmerman, J. (1986). Positive accounting theory, Englewood Cliffs, New Jersey: Prentice
Hall.
Watts, R.L. & Zimmerman, J.L. (1990). Positive accounting theory: A ten year perspective. Accounting
Review, 65(1), 131-156.
Wijesinghe, R., & Kehelwalatenna, S. (2017). The impact of earnings quality on the stock returns of listed
manufacturing companies in the Colombo Stock Exchange. Colombo Business Journal International
Journal of Theory and Practice, 8(2), 69-89.
Wruck, K. H. (1990). Financial distress, reorganization, and organizational efficiency. Journal of Financial
Economics, 27(2), 419-444.