Mutual Shareholding Limited Business Group and Quarterly Earnings Management
Bibliographic record
Abstract
This study aims to analyze the effect of a mutual shareholding limited business group system which is designated and managed by the Korean Fair-Trade Commission on corporate discretionary accounting choices. According to Watts and Zimmerman (1986), accounting numbers are often used to overcome political circumstances when companies are exposed due to government regulations. As a result of analyzing the listed companies from 2015 to 2021, it was confirmed that the size of quarterly earnings management measured by quarter-year-industry based on Kothari, Leone, and Wasley (2005)’s management performance-controlled model was statistically significantly larger for companies belonging to a mutual shareholding limited business group than those not belonging to a business group. In addition, it was found that earnings management was more aggressive in the fourth quarter than in other quarters. And these results were found to be supported regardless of the largest shareholder’s share. This study has academic significance in that it provides a deep understanding of the impact of accounting practice following the designation of a mutual shareholding limited business group system, a representative business group in Korea.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.002 | 0.001 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.007 |
| Science and technology studies | 0.001 | 0.000 |
| Scholarly communication | 0.001 | 0.002 |
| Open science | 0.002 | 0.003 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".