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Predicting Audit Opinions Evidence From The Athens Stock Exchange

dc.contributor.authorMaggina, Anastasia
dc.contributor.authorTsaklanganos, Angelos
dc.description.abstractThe purpose of this study is to provide evidence drawn from publicly traded companies in Greece as far as the predictability of going-concern opinions, and other business situations (problem companies, tax contingent liabilities) based on a transition from a tax-driven accounting system which is characterized by a stakeholder (debtholder) orientation to shareholder oriented and independent of tax reporting considerations after the adoption of IFRS. This study examines companies listed in the Athens Stock Exchange to determine whether the findings with regard to the prediction of troubled companies, going-concern audit opinions and tax contingent liabilities are robust in a different accounting system than that in prior studies. We employ discriminant analysis and a logit specification to test our models. Results indicate that more noticeably goingconcern audit opinions can be predicted with rates ranging from 96.7% to 98.7%. Research findings are subject to limitations since they are drawn from publicly traded companies only. The selection of models that better fits to the Greek data provides additional evidence to the existing literature not only in so far as the statistical techniques but also in respect to the business environment (after the adoption of IFRS). These models can act as early warning systems in an effort to avoid further bankruptcies or liquidations or even to prevent “window dressing” phenomena.en_UK
dc.publisherClute Instituteen_UK
dc.relation.ispartofseriesThe Journal of Applied Business Research;Volume 27, Number 4
dc.rights© 2011 The Clute Instituteen_UK
dc.subjectAudit reportsen_UK
dc.subjectGoing-concern opinionsen_UK
dc.subjectProblem companiesen_UK
dc.subjectTax contingent liabilitiesen_UK
dc.subjectDiscriminant analysisen_UK
dc.subjectLogit specificationen_UK
dc.titlePredicting Audit Opinions Evidence From The Athens Stock Exchangeen_UK

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© 2011 The Clute Institute
Except where otherwise noted, this item's license is described as © 2011 The Clute Institute