How to cite this paper
Atqa, A., Saleh, N., Ahmad, A & Latiff, R. (2019). The relationship between loss, macroeconomic condition and conservatism.Management Science Letters , 9(9), 1477-1496.
Refrences
Abdullah, A.A., & Saleh, N.M. (2014). Impact of firms’ life-cycle on conservatism: the Malaysian
evidence. Procedia - Social and Behavioral Sciences, 145, 18 – 28.
Adilah Zafirah, M.S., Hsu, G., & Wyatt, A. (2013). The relation between firm growth and accounting quality:
A test of the life cycle hypothesis. British Accounting and Finance Association Annual Conference 2013.
Nottingham Business School, United Kingdom.
Ahmed, K., & Jinan, M. (2011). The association between research and development expenditure and firm
performance: testing a life cycle hypothesis. International Journal of Accounting, Auditing and
Performance Evaluation, 7(4), 267-286.
Altman, E. I. (1968). Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. The
journal of finance, 23(4), 589-609.
Anthony, J.H., & Ramesh, K. (1992). Association between accounting performance measures and stock
prices. Journal of Accounting & Economics, 15, 203-227.
Balakrishnan, K. (2010). Credit market conditions and economy-wide consequences of financial reporting
quality. Ph.D., New York University, Graduate School of Business Administration, United States -- New
York.
Balkrishna, H., Coulton, J.J., & Taylor, S. (2007). Accounting losses and earnings conservatism: evidence
from Australian Generally Accepted Accounting Principles. Accouting and Finance, 47, 381-400.
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(1-3), 235-270.
Bayati, M., & Jamshidinavid, B. (2016). Study of the influence of different levels of life-cycle on asymmetric
timeliness of profit in the accepted corporations in the Tehran stock exchange. International Business
Management, 10(3), 6214-6219
Basu, S. (1997). The conservatism principle and the asymmetric timeliness of earnings1. Journal of Accounting and Economics, 24(1), 3-37.
Basu, S. (2009). Conservatism research: Historical development and future prospects. China Journal of
Accounting Research, 2(1), 1-20.
Bens, D.A., Nagar, V., & Wong, M.H.F. (2002). Real investment implications of employee stock option
exercises. Journal of Accounting Research, 40(2), 359-393.
Bergstresser, D., & Philippon, T. (2006). CEO incentives and earnings management. Journal of financial
economics, 80(3), 511-529.
Bertomeu, J., & Magee, R.P. (2011). From low-quality reporting to financial crises: Politics of disclosure
regulation along the economic cycle. Journal of Accounting and Economics, 52(2-3), 209-227.
Black, E.L. (1998). Life-cycle impacts on the incremental value-relevance of earnings and cash flow
measures. Journal of Financial Statement Analysis 4(1), 40-56.
Black, E.L. (2003). Usefulness of financial statement components in valuation: An examination of start-up
and growth firms. Venture Capital, 5(1), 47-69.
Burgstahler, D., Jiambalvo, J., & Noreen, E. (1989). Changes in the probability of bankruptcy and equity
value. Journal of Accounting and Economics, 11(2-3), 207-224.
Burgstahler, D.C., & Dichev, I.D. (1997). Earnings, adaptation and firm value. The Accounting Review, 72(2),
187-215.
Carmona, S., & Trombetta, M. (2008). On the global acceptance of IAS/IFRS accounting standards: The logic
and implications of the principles-based system. Journal of Accounting and Public Policy, 27(6), 455-461.
Charitou, A., Lambertides, N., & Trigeorgis, L. (2007a). Earnings behaviour of financially distressed firms:
The role of institutional ownership. Abacus, 43(3), 271-296.
Charitou A., Lambertidesm N., & Trigeorgis, L. (2007b). Managerial discretion in distressed firms. British
Accounting Review, 39(4), 323-346.
Charitou, A., Lambertides, N., & Trigeorgis, L. (2011). Distress risk, growth and earnings quality. Abacus,
47(2), 158-181.
Chen, N.-F., Roll, R., & Ross, S.A. (1986). Economic forces and the stock market. Journal of Business 59(3),
383-403.
Chen, X., & Huang, D. (2007). Corporate life-cycle, accrual characteristics and accounting conservatism.
Working paper. Southwestern University of Finance & Economics.
Chen, X., Yang, W., & Huang, D. (2010b). Corporate life-cycle and the accrual model: an empirical study
based on Chinese listed companies. Frontiers of Business Research in China, 4(3), 580-607.
Chi, W., Liu, C., & Wang, T. (2009). What affects accounting conservatism: A corporate governance
perspective. Journal of Contemporary Accounting & Economics, 5(1), 47-59.
Chia, Y.M., Lapsley, I., & Lee, H.-W. (2007). Choice of auditors and earnings management during the Asian
financial crisis. Managerial Auditing Journal, 22(2), 177-196.
Cho, J., & Yoo, B.H. (2011). The Korean stock market volatility during the currency crisis and the credit
crisis. Japan and the World Economy. 23(4), 246-252.
Claessens, S., Djankov, S., & Lang, L. H. (2000). The separation of ownership and control in East Asian
corporations. Journal of financial Economics, 58(1-2), 81-112.
Collins, D.W., Pincus, M., & Xie, H. (1999). Equity valuation and negative earnings: The role of book value
of equity. The Accounting Review, 74(1), 29-61.
Connelly, B.L., Certo, S.T., Ireland, R.D., & Reutzel, C.R. (2011). Signaling theory: A review and
assessment. Journal of Management, 37(1), 39-67.
Darrough, M., & Ye, J. (2007). Valuation of loss firms in a knowledge-based economy. Review of Accounting
Studies, 12(1), 61-93.
DeAngelo, H., DeAngelo, L., & Skinner, D.J. (1994). Accounting choice in troubled companies. Journal of
Accounting & Economics, 17, 113-143.
DeAngelo, H., DeAngelo, L., & Stulz, R. (2006). Dividend policy and the earned/contributed capital mix: A
test of the life-cycle theory. Journal of Financial Economics, 81, 227-254.
DeAngelo, H., DeAngelo, L., & Stulz, R.M. (2010). Seasoned equity offerings, market timing, and the
corporate lifecycle. Journal of Financial Economics, 95(3), 275-295.
Dechow, P., Ge, W., &Schrand, C. (2010). Understanding earnings quality: A review of the proxies, their
determinants and their consequences. Journal of Accounting and Economics, 50(2-3), 344-401.
DeFond, M., & Jiambalvo, J. (1994). Debt covenant violations and manipulation of accruals. Journal of
Accounting & Economics, 17(1&2).
Dichev, I.D., Graham, J.R., Harvey, C.R., & Rajgopal, S. (2013). Earnings quality: Evidence from the field.
Journal of Accounting and Economics. 56 (2-3, Supplement1),1-33.
Dichev, I.D., & Skinner, D. (2002). Large sample evidence on the debt covenant hypothesis. Journal of
Accounting Research, 40(4), 1091-1123.
Dickinson, V. (2010). Cash flow patterns as a proxy for firm life cycle. Working paper. University of Florida.
Dickinson, V. (2011). Cash flow patterns as a proxy for firm life cycle. The Accounting Review, 86(6), 1969-
1994.
Ebadi, T. (2016). The effect of corporate life cycle on the accounting conservatism. Scinzer Journal of
Accounting and Management, 2(1), 1-11
I. Esenyel and M. Girgen / Management Science Letters 9 (2019) 1495
Eng, L.L., & Nabar, S. (2007). Loan loss provisions by banks in Hong Kong, Malaysia and Singapore. Journal
of International Financial Management and Accounting, 18(1), 18-38.
Francis, J., Olsson, P., & Schipper, K. (2008b). Earnings quality. Massachussets: Now Publishers Inc.
Francis, J.R., & Krishnan, J. (1999). Accounting accruals and auditor reporting conservatism. Contemporary
Accounting Research, 16(1), 135-165.
Garcia Lara, J.M., Garcia Osma, B., & Neophytou, E. (2009). Earnings quality in ex-post failed firms.
Accounting & Business Research, 39(2), 119-138.
Givoly, D., & Hayn, C. (2000). The changing time-series properties of earnings, cash flows and accruals: Has
financial reporting become more conservative? Journal of Accounting and Economics, 29(3), 287-320.
Gomez, E., & Jomo, K.S. (1997). Malaysia's Political Economy: Politics, Patronage and Profits. Cambridge:
Cambridge University Press.
Gu, Z., Lee, C.W.J., & Rosett, J.G. (2005). What determines the variability of accounting accruals? Review
of Quantitative Finance and Accounting, 24(3), 313-334.
Gu, F., & Li, J.Q. (2003). Disclosure of innovation activities by high-technology firms. Asia-Pacific Journal
of Accounting & Economics, 10, 143-172.
Gul, F.A., Srinidhi, B., & Shieh, T. (2002). The Asian financial crisis, accounting conservatism and audit
fees: Evidence from Hong Kong. SSRN eLibrary.
Hayn, C. (1995). The information content of losses. Journal of Accounting and Economics, 20(2), 125-153.
Hillegeist, S., Keating, E., Cram, D., & Lundstedt, K. (2004). Assessing the probability of bankruptcy. Review
of Accounting Studies, 9(1), 5-34.
Jenkins, D.S., Kane, G.D., & Velury, U. (2009). Earnings conservatism and value relevance across the
business cycle. Journal of Business Finance and Accounting, 36(9&10), 1041-1058.
Johnson, S., & Mitton, T. (2003). Cronyism and capital controls: evidence from Malaysia. Journal of
Financial Economics, 67(2), 351-382.
Jones, J.J. (1991). Earnings management during import relief investigations. Journal of Accounting Research,
29(2), 193-228.
Kaminsky, G.L., & Schmukler, S.L. (1999). What triggers market jitters? A chronicle of the asian crisis.
Policy research working paper: The World Bank Development Research Group.
Kasznik, R. (1999). On the association between voluntary disclosure and earnings management. Journal of
Accounting Research, 37(1), 57-81.
Khan, M. (2008). Are accruals mispriced evidence from tests of an intertemporal capital asset pricing model.
Journal of Accounting & Economics, 45(1), 55-77.
Khan, M., & Watts, R.L. (2009). Estimation and empirical properties of a firm-year measure of accounting
conservatism. Journal of Accounting and Economics, 48(2–3), 132-150.
Khor, H.E., & Kee, R.X. (2008). Asia: A perspective on the subprime crisis. Finance & Development by
International Monetary Fund.
Kim, Y., Liu, C., & Rhee, S.G. (2003). The relation of earnings management to firm size. Working paper.
Klein, A., & Marquardt, C. (2006). Fundamentals of accounting losses. The Accounting Review, 81(1), 179-
206.
Kodres, L., & Pritsker, M. (1998). A Rational Expectations Model of Financial Contagion. Mimeo: Board of
Governors of the Federal Reserve System. Quoted in Vichitsarawong, T., Eng, L.L., and Meek, G.K. 2010.
The impact of the Asian financial crisis on conservatism and timeliness of earnings: Evidence from Hong
Kong, Malaysia, Singapore, and Thailand. Journal of International Financial Management and
Accounting, 21(1), 32-61.
Lee, H.S.G., Li, X., & Sami, H. (2015). Conditional conservatism and audit fees. Accounting Horizons, 29(1),
83-113.
Lester, D., & Parnell, J. (1999). A strategic interpretation of organization life cycle. Journal of Applied
Management and Entrepreneurship, 5(1), 14-32.
Lester, D., Parnell, J., Crandall, W., & Menefee, M. (2008). Organizational life-cycle and performance among
SMEs - Generic strategies for high and low performers. International Journal of Commerce and
Management, 18(4), 313-330.
Leuz, C., & Verrecchia, R.E. (2000). The economic consequences of increased disclosure. Journal of
Accounting Research, 38(Supplement), 91-124.
Liu, M. (2008). Accruals and managerial operating decisions over the firm life-cycle. Working paper.
Pennsylvania State University.
Lo, K. (2008). Earnings management and earnings quality. Journal of Accounting and Economics, 45(2-3),
350-357.
Macve, R.H. (2015). Fair value vs conservatism? Aspects of the history of accounting, auditing, business and
finance from ancient Mesopotamia to modern China. The British Accounting Review, 47(2), 124-141.
McNichols, M.F. (2000). Research design issues in earnings management studies. Journal of Accounting and
Public Policy, 19(4-5), 313-345.
Meek, G., & Meek, J.G. (2009). Self-fulfilling prophecies of failure: the endogenous balance sheets of
distressed companies. Abacus, 45(1), 22-43.
Pandey, I.M. (2003). Corporate dividend policy and behaviour: The Malaysian evidence. Asian Academy of
Management Journal, 8(1), 17-32.
Park, Y., & Chen, K.H. (2006). The effect of accounting conservatism and life-cycle stages on firm valuation.
Journal of Applied Business Research, 22(3), 75-92.
Perry, S. E., & Williams, T. H. (1994). Earnings management preceding management buyout offers. Journal
of Accounting and Economics, 18(2), 157-179.
Quinn, R., & Cameron, K. (1983). Organizational life cycles and shifting criteria of effectiveness: some
preliminary evidence. Management Science, 29(1), 33-41.
Saleh, N.M., & Ahmed, K. (2005). Earnings management of distressed firms during debt renegotiation.
Accounting & Business Research, 35(1), 69-86.
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Vichitsarawong, T., Eng, L.L., & Meek, G.K. (2010). The impact of the Asian financial crisis on conservatism
and timeliness of earnings: Evidence from Hong Kong, Malaysia, Singapore, and Thailand. Journal of
International Financial Management and Accounting, 21(1), 32-61.
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Zhang, X.F. (2007). Accruals, investment, and the accrual anomaly. Accounting Review, 82(5), 1333-1363.
evidence. Procedia - Social and Behavioral Sciences, 145, 18 – 28.
Adilah Zafirah, M.S., Hsu, G., & Wyatt, A. (2013). The relation between firm growth and accounting quality:
A test of the life cycle hypothesis. British Accounting and Finance Association Annual Conference 2013.
Nottingham Business School, United Kingdom.
Ahmed, K., & Jinan, M. (2011). The association between research and development expenditure and firm
performance: testing a life cycle hypothesis. International Journal of Accounting, Auditing and
Performance Evaluation, 7(4), 267-286.
Altman, E. I. (1968). Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. The
journal of finance, 23(4), 589-609.
Anthony, J.H., & Ramesh, K. (1992). Association between accounting performance measures and stock
prices. Journal of Accounting & Economics, 15, 203-227.
Balakrishnan, K. (2010). Credit market conditions and economy-wide consequences of financial reporting
quality. Ph.D., New York University, Graduate School of Business Administration, United States -- New
York.
Balkrishna, H., Coulton, J.J., & Taylor, S. (2007). Accounting losses and earnings conservatism: evidence
from Australian Generally Accepted Accounting Principles. Accouting and Finance, 47, 381-400.
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(1-3), 235-270.
Bayati, M., & Jamshidinavid, B. (2016). Study of the influence of different levels of life-cycle on asymmetric
timeliness of profit in the accepted corporations in the Tehran stock exchange. International Business
Management, 10(3), 6214-6219
Basu, S. (1997). The conservatism principle and the asymmetric timeliness of earnings1. Journal of Accounting and Economics, 24(1), 3-37.
Basu, S. (2009). Conservatism research: Historical development and future prospects. China Journal of
Accounting Research, 2(1), 1-20.
Bens, D.A., Nagar, V., & Wong, M.H.F. (2002). Real investment implications of employee stock option
exercises. Journal of Accounting Research, 40(2), 359-393.
Bergstresser, D., & Philippon, T. (2006). CEO incentives and earnings management. Journal of financial
economics, 80(3), 511-529.
Bertomeu, J., & Magee, R.P. (2011). From low-quality reporting to financial crises: Politics of disclosure
regulation along the economic cycle. Journal of Accounting and Economics, 52(2-3), 209-227.
Black, E.L. (1998). Life-cycle impacts on the incremental value-relevance of earnings and cash flow
measures. Journal of Financial Statement Analysis 4(1), 40-56.
Black, E.L. (2003). Usefulness of financial statement components in valuation: An examination of start-up
and growth firms. Venture Capital, 5(1), 47-69.
Burgstahler, D., Jiambalvo, J., & Noreen, E. (1989). Changes in the probability of bankruptcy and equity
value. Journal of Accounting and Economics, 11(2-3), 207-224.
Burgstahler, D.C., & Dichev, I.D. (1997). Earnings, adaptation and firm value. The Accounting Review, 72(2),
187-215.
Carmona, S., & Trombetta, M. (2008). On the global acceptance of IAS/IFRS accounting standards: The logic
and implications of the principles-based system. Journal of Accounting and Public Policy, 27(6), 455-461.
Charitou, A., Lambertides, N., & Trigeorgis, L. (2007a). Earnings behaviour of financially distressed firms:
The role of institutional ownership. Abacus, 43(3), 271-296.
Charitou A., Lambertidesm N., & Trigeorgis, L. (2007b). Managerial discretion in distressed firms. British
Accounting Review, 39(4), 323-346.
Charitou, A., Lambertides, N., & Trigeorgis, L. (2011). Distress risk, growth and earnings quality. Abacus,
47(2), 158-181.
Chen, N.-F., Roll, R., & Ross, S.A. (1986). Economic forces and the stock market. Journal of Business 59(3),
383-403.
Chen, X., & Huang, D. (2007). Corporate life-cycle, accrual characteristics and accounting conservatism.
Working paper. Southwestern University of Finance & Economics.
Chen, X., Yang, W., & Huang, D. (2010b). Corporate life-cycle and the accrual model: an empirical study
based on Chinese listed companies. Frontiers of Business Research in China, 4(3), 580-607.
Chi, W., Liu, C., & Wang, T. (2009). What affects accounting conservatism: A corporate governance
perspective. Journal of Contemporary Accounting & Economics, 5(1), 47-59.
Chia, Y.M., Lapsley, I., & Lee, H.-W. (2007). Choice of auditors and earnings management during the Asian
financial crisis. Managerial Auditing Journal, 22(2), 177-196.
Cho, J., & Yoo, B.H. (2011). The Korean stock market volatility during the currency crisis and the credit
crisis. Japan and the World Economy. 23(4), 246-252.
Claessens, S., Djankov, S., & Lang, L. H. (2000). The separation of ownership and control in East Asian
corporations. Journal of financial Economics, 58(1-2), 81-112.
Collins, D.W., Pincus, M., & Xie, H. (1999). Equity valuation and negative earnings: The role of book value
of equity. The Accounting Review, 74(1), 29-61.
Connelly, B.L., Certo, S.T., Ireland, R.D., & Reutzel, C.R. (2011). Signaling theory: A review and
assessment. Journal of Management, 37(1), 39-67.
Darrough, M., & Ye, J. (2007). Valuation of loss firms in a knowledge-based economy. Review of Accounting
Studies, 12(1), 61-93.
DeAngelo, H., DeAngelo, L., & Skinner, D.J. (1994). Accounting choice in troubled companies. Journal of
Accounting & Economics, 17, 113-143.
DeAngelo, H., DeAngelo, L., & Stulz, R. (2006). Dividend policy and the earned/contributed capital mix: A
test of the life-cycle theory. Journal of Financial Economics, 81, 227-254.
DeAngelo, H., DeAngelo, L., & Stulz, R.M. (2010). Seasoned equity offerings, market timing, and the
corporate lifecycle. Journal of Financial Economics, 95(3), 275-295.
Dechow, P., Ge, W., &Schrand, C. (2010). Understanding earnings quality: A review of the proxies, their
determinants and their consequences. Journal of Accounting and Economics, 50(2-3), 344-401.
DeFond, M., & Jiambalvo, J. (1994). Debt covenant violations and manipulation of accruals. Journal of
Accounting & Economics, 17(1&2).
Dichev, I.D., Graham, J.R., Harvey, C.R., & Rajgopal, S. (2013). Earnings quality: Evidence from the field.
Journal of Accounting and Economics. 56 (2-3, Supplement1),1-33.
Dichev, I.D., & Skinner, D. (2002). Large sample evidence on the debt covenant hypothesis. Journal of
Accounting Research, 40(4), 1091-1123.
Dickinson, V. (2010). Cash flow patterns as a proxy for firm life cycle. Working paper. University of Florida.
Dickinson, V. (2011). Cash flow patterns as a proxy for firm life cycle. The Accounting Review, 86(6), 1969-
1994.
Ebadi, T. (2016). The effect of corporate life cycle on the accounting conservatism. Scinzer Journal of
Accounting and Management, 2(1), 1-11
I. Esenyel and M. Girgen / Management Science Letters 9 (2019) 1495
Eng, L.L., & Nabar, S. (2007). Loan loss provisions by banks in Hong Kong, Malaysia and Singapore. Journal
of International Financial Management and Accounting, 18(1), 18-38.
Francis, J., Olsson, P., & Schipper, K. (2008b). Earnings quality. Massachussets: Now Publishers Inc.
Francis, J.R., & Krishnan, J. (1999). Accounting accruals and auditor reporting conservatism. Contemporary
Accounting Research, 16(1), 135-165.
Garcia Lara, J.M., Garcia Osma, B., & Neophytou, E. (2009). Earnings quality in ex-post failed firms.
Accounting & Business Research, 39(2), 119-138.
Givoly, D., & Hayn, C. (2000). The changing time-series properties of earnings, cash flows and accruals: Has
financial reporting become more conservative? Journal of Accounting and Economics, 29(3), 287-320.
Gomez, E., & Jomo, K.S. (1997). Malaysia's Political Economy: Politics, Patronage and Profits. Cambridge:
Cambridge University Press.
Gu, Z., Lee, C.W.J., & Rosett, J.G. (2005). What determines the variability of accounting accruals? Review
of Quantitative Finance and Accounting, 24(3), 313-334.
Gu, F., & Li, J.Q. (2003). Disclosure of innovation activities by high-technology firms. Asia-Pacific Journal
of Accounting & Economics, 10, 143-172.
Gul, F.A., Srinidhi, B., & Shieh, T. (2002). The Asian financial crisis, accounting conservatism and audit
fees: Evidence from Hong Kong. SSRN eLibrary.
Hayn, C. (1995). The information content of losses. Journal of Accounting and Economics, 20(2), 125-153.
Hillegeist, S., Keating, E., Cram, D., & Lundstedt, K. (2004). Assessing the probability of bankruptcy. Review
of Accounting Studies, 9(1), 5-34.
Jenkins, D.S., Kane, G.D., & Velury, U. (2009). Earnings conservatism and value relevance across the
business cycle. Journal of Business Finance and Accounting, 36(9&10), 1041-1058.
Johnson, S., & Mitton, T. (2003). Cronyism and capital controls: evidence from Malaysia. Journal of
Financial Economics, 67(2), 351-382.
Jones, J.J. (1991). Earnings management during import relief investigations. Journal of Accounting Research,
29(2), 193-228.
Kaminsky, G.L., & Schmukler, S.L. (1999). What triggers market jitters? A chronicle of the asian crisis.
Policy research working paper: The World Bank Development Research Group.
Kasznik, R. (1999). On the association between voluntary disclosure and earnings management. Journal of
Accounting Research, 37(1), 57-81.
Khan, M. (2008). Are accruals mispriced evidence from tests of an intertemporal capital asset pricing model.
Journal of Accounting & Economics, 45(1), 55-77.
Khan, M., & Watts, R.L. (2009). Estimation and empirical properties of a firm-year measure of accounting
conservatism. Journal of Accounting and Economics, 48(2–3), 132-150.
Khor, H.E., & Kee, R.X. (2008). Asia: A perspective on the subprime crisis. Finance & Development by
International Monetary Fund.
Kim, Y., Liu, C., & Rhee, S.G. (2003). The relation of earnings management to firm size. Working paper.
Klein, A., & Marquardt, C. (2006). Fundamentals of accounting losses. The Accounting Review, 81(1), 179-
206.
Kodres, L., & Pritsker, M. (1998). A Rational Expectations Model of Financial Contagion. Mimeo: Board of
Governors of the Federal Reserve System. Quoted in Vichitsarawong, T., Eng, L.L., and Meek, G.K. 2010.
The impact of the Asian financial crisis on conservatism and timeliness of earnings: Evidence from Hong
Kong, Malaysia, Singapore, and Thailand. Journal of International Financial Management and
Accounting, 21(1), 32-61.
Lee, H.S.G., Li, X., & Sami, H. (2015). Conditional conservatism and audit fees. Accounting Horizons, 29(1),
83-113.
Lester, D., & Parnell, J. (1999). A strategic interpretation of organization life cycle. Journal of Applied
Management and Entrepreneurship, 5(1), 14-32.
Lester, D., Parnell, J., Crandall, W., & Menefee, M. (2008). Organizational life-cycle and performance among
SMEs - Generic strategies for high and low performers. International Journal of Commerce and
Management, 18(4), 313-330.
Leuz, C., & Verrecchia, R.E. (2000). The economic consequences of increased disclosure. Journal of
Accounting Research, 38(Supplement), 91-124.
Liu, M. (2008). Accruals and managerial operating decisions over the firm life-cycle. Working paper.
Pennsylvania State University.
Lo, K. (2008). Earnings management and earnings quality. Journal of Accounting and Economics, 45(2-3),
350-357.
Macve, R.H. (2015). Fair value vs conservatism? Aspects of the history of accounting, auditing, business and
finance from ancient Mesopotamia to modern China. The British Accounting Review, 47(2), 124-141.
McNichols, M.F. (2000). Research design issues in earnings management studies. Journal of Accounting and
Public Policy, 19(4-5), 313-345.
Meek, G., & Meek, J.G. (2009). Self-fulfilling prophecies of failure: the endogenous balance sheets of
distressed companies. Abacus, 45(1), 22-43.
Pandey, I.M. (2003). Corporate dividend policy and behaviour: The Malaysian evidence. Asian Academy of
Management Journal, 8(1), 17-32.
Park, Y., & Chen, K.H. (2006). The effect of accounting conservatism and life-cycle stages on firm valuation.
Journal of Applied Business Research, 22(3), 75-92.
Perry, S. E., & Williams, T. H. (1994). Earnings management preceding management buyout offers. Journal
of Accounting and Economics, 18(2), 157-179.
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