Standard Jones and Modified Jones: An Earnings Management Tutorial

ABSTRACT Context: measurement of earnings management usually requires multi-step models for computation. After examining the literature through bibliometrics studies, literature review, and research databases, we found that the Standard Jones model and its subsequent modifications are those that have more prominent use. Much of this research is potentially interesting for business theories related to earnings quality and accounting manipulation; however, it is difficult to be understood by junior researchers and practitioners, because they are not clearly described in the literature or the steps may be easy to confuse. Objective: in this tutorial, we present several key concepts about earnings management and explain, step by step, how to measure it. Method: our tutorial considers measurement using the following models: Standard Jones, Modified Jones, Modified Jones with return on assets (ROA), and Modified Jones using Cash Flows and Accruals Reversals. Conclusions: our main contribution with this tutorial is to provide a step-by-step guide for future studies, so that they can be more comparable with each other when using measurement methods of earnings management.摘要 研究背景：盈余管理（earnings management）的计量通常需要借助多步骤计算模型完成。本文通过文献计量学研究、文献综述以及研究数据库对相关文献进行梳理后发现，琼斯原始模型（Standard Jones model）及其后续修正模型是应用最为广泛的盈余管理计量方法。此类研究与盈余质量、会计操纵相关的企业理论具有重要参考价值，但由于现有文献对其阐述不够清晰，且计量步骤易出现混淆，初级研究者与实务从业者往往难以理解。 研究目标：本教程系统阐释盈余管理相关核心概念，并逐步讲解其计量方法。 研究方法：本教程采用以下四类模型开展盈余管理计量：琼斯原始模型（Standard Jones model）、修正琼斯模型（Modified Jones）、加入资产收益率（return on assets, ROA）的修正琼斯模型，以及基于现金流与应计项逆转（Cash Flows and Accruals Reversals）的修正琼斯模型。 研究结论：本教程的核心贡献在于为后续研究提供了一套分步操作指南，使得研究者在采用盈余管理计量方法时，各研究结果之间更具相互可比性。