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Beneish Model for the Detection of Tax Manipulation: Evidence from Slovakia

In: Ekonomický časopis/Journal of Economics, vol. 71, no. 3
Tomáš Bačo - Eduard Baumöhl Číslo ORCID - Matúš Horváth Číslo ORCID - Tomáš Výrost Číslo ORCID
Detaily:
Rok, strany: 2023, 185 - 201
Jazyk: eng
Kľúčové slová:
earnings manipulation, Beneish model, accounting fraud, Slovakia, corpo-rate governance; JEL Classification: D24, G30, L60, L80, M21
Typ článku: Vedecký článok / Article
Typ dokumentu: PDF / PDF
DOI: https://doi.org/10.31577/ekoncas.2023.03.01
Full text
O článku:
To test the usefulness of the Beneish model, we use a unique, not publicly available database from the Financial Administration of the Slovak Republic, aggregating the results of all on-site financial inspections conducted by this authority during 2015 – 2019. This database is paired with firm-level accounting data from the Registry of Financial Statements and the Business Register to obtain additional corporate governance data. Our results indicate that (a) the performance of the Beneish model is inferior for the Slovak data; (b) there are several significant financial variables with statistical and economic significance, but their relevance is conditional on the industry group; and (c) corporate governance indicators appear to be more relevant preventive factors of fraudulent behavior, especially foreign ownership, female CEO and corporate social responsibility.
To test the usefulness of the Beneish model, we use a unique, not publicly available database from the Financial Administration of the Slovak Republic, aggregating the results of all on-site financial inspections conducted by this authority during 2015 – 2019. This database is paired with firm-level accounting data from the Registry of Financial Statements and the Business Register to obtain additional corporate governance data. Our results indicate that (a) the performance of the Beneish model is inferior for the Slovak data; (b) there are several significant financial variables with statistical and economic significance, but their relevance is conditional on the industry group; and (c) corporate governance indicators appear to be more relevant preventive factors of fraudulent behavior, especially foreign ownership, female CEO and corporate social responsibility.
Ako citovať:
ISO 690:
Bačo, T., Baumöhl, E., Horváth, M., Výrost, T. 2023. Beneish Model for the Detection of Tax Manipulation: Evidence from Slovakia. In Ekonomický časopis/Journal of Economics, vol. 71, no.3, pp. 185-201. 0013-3035. DOI: https://doi.org/10.31577/ekoncas.2023.03.01

APA:
Bačo, T., Baumöhl, E., Horváth, M., Výrost, T. (2023). Beneish Model for the Detection of Tax Manipulation: Evidence from Slovakia. Ekonomický časopis/Journal of Economics, 71(3), 185-201. 0013-3035. DOI: https://doi.org/10.31577/ekoncas.2023.03.01
O vydaní:
Vydavateľ: Ekonomický ústav SAV, v.v.i. / Institute of Economic Research SAS
Publikované: 18. 8. 2023