Hsiang-Yen 發問時間: 社會與文化語言 · 1 0 年前

請幫忙翻譯英文期刊 大意?贈20點

請各位英文厲害的高手幫我翻譯英文期刊

摘要(全翻) 

前言大意 假說 結論 (概要重點述說即可)

期刊名稱:Do firms manage earnings to meet dividend thresholds

期刊全文網址:

http://papers.ssrn.com/sol3/papers.cfm?abstract_id...

上面有Download |字樣可以下載全文

請各位好心的英文高手幫幫我吧!

註:切勿提供翻譯軟體直接翻譯 否則直接刪除!

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4 個解答

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  • John
    Lv 6
    1 0 年前
    最佳解答

    Abstract: 摘要

    We find that firms are more likely to manage earnings upward when their earnings would otherwise fall short of expected dividend levels. This earnings management behavior appears to significantly impact the likelihood of a dividend cut. Firms whose discretionary accruals cause reported earnings to exceed expected dividend levels are significantly less likely to cut dividends than are firms whose reported earnings fall short of expected dividend levels. These findings are robust to controls for other determinants of discretionary accruals and other determinants of the likelihood of a dividend cut.

    Finally, we report that, in response to an earnings shortfall, earnings management is more aggressive prior to the passing of the Sarbanes-Oxley Act, subsequent to the 2003 dividend tax cut, in firms with high payout ratios, in firms whose CEOs receive higher dollar dividends, in firms whose CEOs have higher pay-performance sensitivities, and in firms that raise less outside equity. Collectively, these findings imply that managers treat expected dividend levels as an important earnings threshold.

    當公司盈餘低於預期股利水準時,我們發現公司是更有可能向上管理盈餘。此一盈餘管理行為,對於股利的削減,呈現出其重大的影響。公司的『裁量性應計項目』,導致其所揭露的盈餘超過預期股利水準,此意謂著,比起企業所揭露的盈餘低於預期股利水準來,股利是不太可能被削減。對於『裁量性應計項目』及『削減股利之可能性』的其他決定因素之管控,這些發現是十分建全的。

    最後,我們提出的,包括盈餘不足之反應、沙賓法案通過之前盈餘管理更為積極,之後2003年降低股利稅、公司內有高額支出比例、公司CEO收到更高的股利、公司CEO有更高的薪酬績效敏感度、公司發行較少的外部權益。整體而言,這些發現,則意謂著經理人,將預期股利水準,視為一個重要的盈餘門檻。

    Keywords: dividend policy, dividend smoothing, earnings management, accruals

    關鍵字:股利政策、股利平滑、盈餘管理、應計項目

    參考資料: myself
  • 1 0 年前

    那個人用翻譯機拉

    不過翻譯的還ok

    有一點簡體

    用的是中國的翻譯軟體吧

  • 匿名使用者
    1 0 年前

    你說ㄉ是這ㄍ嗎?是ㄉ話我就能回答ㄌ

    We find that firms are more likely to manage earnings upward when their earnings would otherwise fall short of expected dividend levels. This earnings management behavior appears to significantly impact the likelihood of a dividend cut. Firms whose discretionary accruals cause reported earnings to exceed expected dividend levels are significantly less likely to cut dividends than are firms whose reported earnings fall short of expected dividend levels. These findings are robust to controls for other determinants of discretionary accruals and other determinants of the likelihood of a dividend cut. Finally, we report that, in response to an earnings shortfall, earnings management is more aggressive prior to the passing of the Sarbanes-Oxley Act, subsequent to the 2003 dividend tax cut, in firms with high payout ratios, in firms whose CEOs receive higher dollar dividends, in firms whose CEOs have higher pay-performance sensitivities, and in firms that raise less outside equity. Collectively, these findings imply that managers treat expected dividend levels as an important earnings threshold. 我們發现到企業可能是往上處理收入,當他們的收入將否則缺乏期望的股息水平。 這收入管理之行為看上去極大衝擊股息裁減的可能。 任意增殖起因報告的企業超出的收入期待股息水平比企業是顯著很少可能讓報告減少收入的股息缺乏期望的股息水平。 這些研究結果是健壯的對任意增殖其他定列式和股息裁減的可能的其他定列式的控制。最後,我們將在CEOS受到更高的美元股息中的企業裡做報告,以回應收入紅赤字,收入管理是在通過是積極Sarbanes-Oxley行動以前,繼2003年時纯益税减以後,在企業中用高支出的比率,在CEOS有更高的支付表現和敏銳性的企業裡和在升高比較少外部產權的企業裡。這些研究結果提示著經理對期望的股息水平當作很重要的收入限制。

  • 1 0 年前

    對不起,我上網按下download 後,內容跟未按前是一樣的(如下網頁),只有abstract 摘要內容,並沒有 "前言" "假說" "結論"的內容出現,而且除了畫面變大點外,並沒有下載存檔的動作出現,請問就是翻譯摘要嗎?

    http://papers.ssrn.com/sol3/papers.cfm?abstract_id...

    2008-10-20 20:16:10 補充:

    對不起,無法成功下載資料,因時間有限無法回答太多的內容,我將刪除前答,由其他網友來回答。

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