Model for Identifying Profit Adjustment of Enterprises Listed on Ho Chi Minh City Stock Exchange

Tóm tắt

This paper analyzes the fit of the modified Jones model in identifying profit adjustment of 54 companies listed on the Ho Chi Minh City Stock Exchange (HOSE) in the accounting year of 2010. The research results show that the Modified Jones model is not effective in identifying profit adjustment of the enterprises listed on HOSE because of the coefficient measuring the fit of the model (R2 = 3.8%). After analyzing the macroeconomic environment of the HCMC stock market in particular and Vietnam in general, such variables as revenue, depreciation cost and provision cost are selected and added to the model, the R2 coefficient is found to increase to 40.9%. Moreover, all the variables are significant. http://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=690cac35-8e49-4aee-a9d8-371ed2c03c56