The Mediating Role of Investment Efficiency on The Relationship between Earnings Quality and Firm Performance

Abd-Elnaby, H., and Aref, O. (2019) ‘The Effect of Accounting Conservatism on Investment Efficiency and Debt Financing: Evidence From Egyptian Listed Companies’, International Journal of Accounting and Financial Reporting, 9(2).
Aguguom, A. T. (2019) ‘Earnings Persistence and Firm Performance: Implications of Analysts’ Accurate Forecast Ability from the Emerging Market of Nigeria’, International Journal of Accounting Research, (September).
Alhadab, M., Abdullatif, M., and Mansour, I. (2019) ‘Determinants of Related Party Transactions in Jordan?: Financial and Governance Factors’, Australasian Accounting, Business and Finance Journal, 13(1), pp. 44–75.
Alkhafaji, A. A., Kbelah, S. I., and Al-Fadhel, M. M. A. (2020) ‘The relationship between accounting conservatism and efficiency of investment decisions in light of managerial ownership: The case of the tourism industry in Jordan’, African Journal of Hospitality, Tourism and Leisure, 9(1), pp. 1–20.
Alkhazaleh, Q. K. A., Ghazali, A. W., & Shahbudin, A. S. M. (2022). The Relationship between Corporate Governance Mechanisms and Firm Performance: Evidence from Jordanian’s Listed Firms. International Journal of Academic Research in Business and Social Sciences, 12(12), 1882 – 1904.
Alkhazalih, Q., Shahbudin, A., & Ghazali, A. (2022). The Relationship Between Corporate Governance Mechanisms and CSR Disclosure: Evidence from Jordanian’ s Listed Firms. Journal of Public Administration and Governance, 12(4), 4768-4768.
Alkhazaleh, Q. K. A., Al Abbas, S. A., & Sadaa, A. M. (2023). The Effect of Corporate Governance on Audit Quality: Evidence from Jordanian Listed Firms. Asian Journal of Economics, Business and Accounting, 23(17), 40-52.
Alsayegh, M. F., Rahman, R. A., and Himayoun, S. (2023) ‘Corporate Sustainability Performance and Firm Value through Investment Efficiency’, Sustainability, 15(1), pp. 1–13.
Alsmady, A. A. (2022) ‘Accounting information quality and tax avoidance effect on investment opportunities evidence from Gulf Cooperation Council GCC’, Cogent Business and Management. Cogent, 9(1).
Alsufy, F., Afifa, M. A., and Soda, M. Z. (2020) ‘Mediating Effects of Liquidity in the Relationship between Earnings Quality and Market Value of the Share Price?: Evidence from Jordan’, Review of Applied Socio- Economic Research, 19(1), pp. 17–32.
Alzoubi, E. S. S. (2016) ‘Audit quality and earnings management: Evidence from Jordan’, Journal of Applied Accounting Research, 17(2), pp. 170–189.
Anwar, R., and Malik, J. A. (2020) ‘When Does Corporate Social Responsibility Disclosure Affect Investment Efficiency? A New Answer to an Old Question’, SAGE Open, 10(2).
Aslam, E., and Haron, R. (2020) ‘Does corporate governance affect the performance of Islamic banks? New insight into Islamic countries’, Corporate Governance (Bingley), 20(6), pp. 1073–1090.
Assad, N. F., and Alshurideh, M. . (2019) ‘Financial Reporting Quality, Audit Quality, and Investment Efficiency: Evidence from GCC Economies’, WAFFEN-UND Kostumkde Journal, 11(3), pp. 194–208.
Baron, R. M., and Kenny, D. A. (1986) ‘The Moderator-Mediator Variable Distinction in Social Psychological Research. Conceptual, Strategic, and Statistical Considerations’, Journal of Personality and Social Psychology, 51(6), pp. 1173–1182.
Bekheet, M. N., Faramawi, F., and Ezat, Amr, N. (2019) ‘The Impact of Earnings Quality on Cost of Equity to improve the Investment Decisions?: An applied study on the Saudi Stock Market’, International Journal of Applied Engineering Research, 14(22), pp. 4194–4202.
Bhagat, S., and Bolton, B. (2019) ‘Corporate governance and firm performance: The sequel’, Journal of Corporate Finance, 58(April), pp. 142–168.
Buachoom, W. (2018) ‘How Do Board Structures of Thai Firms Influence on Different Quantile Levels of Firm Performance?’, Advances in Pacific Basin Business, Economics and Finance, 6, pp. 157–189.
de Carvalho, F. L. and Kalatzis, A. E. G. (2018) ‘Earnings quality, investment decisions, and financial constraint’, Revista Brasileira de Gestao de Negocios, 20(4), pp. 573–598.
Chen, N., Sung, H.-C., and Yang, J. (2017) ‘Ownership structure, corporate governance and investment efficiency of Chinese listed firms’, Pacific Accounting Review, 29(3), pp. 266–282.
Cherkasova, V., and Rasadi, D. (2017) ‘Earnings Quality and Investment Efficiency: Evidence from Eastern Europe’, Review of Economic Perspectives, 17(4), pp. 441–468.
Dimitropoulos, P. E., Vrondou, O., and Koronios, K. (2019) ‘Earnings Predictability of the Greek Hospitality Industry During the Crisis’, In Smart tourism as a driver for culture and sustainability, pp. 647–658.
Dou, Y., Franco Wong, M. H. and Xin, B. (2019) ‘The effect of financial reporting quality on corporate investment efficiency: Evidence from the adoption of SFAS No. 123R’, Management Science, 65(5), pp. 2249–2266.
Elberry, N., and Hussainey, K. (2020) ‘Does corporate investment efficiency affect corporate disclosure practices?’, Journal of Applied Accounting Research, 21(2), pp. 309–327.
Fatma, N., and Hidayat, W. (2019) ‘Earnings persistence, earnings power, and equity valuation in consumer goods firms’, Asian Journal of Accounting Research, ahead-of-p(ahead-of-print), pp. 3–13.
Fauziah, D. A., Sukoharsono, E. G., and Saraswati, E. (2021) ‘Corporate social responsibility disclosure, investment efficiency, innovation, and firm value’, Jurnal Akuntansi dan Pendidikan, 10(1), pp. 11–22.
Francis, J., Olsson, P., and Schipper, K. (2006) ‘Earnings quality’, Foundations and Trends in Accounting, 1(4), pp. 259–340.
Greene, W. H. (2002) ECONOMETRIC ANALYSIS Senior Media Project Manager?: Victoria Anderson Production Editor?: Michael Reynolds. Fifth. New Jersey: Prentice Hall.
Hatem, B. S. (2016) ‘Factors Explaining Firm Investment?: An International Comparison’, International Business Research, 9(1), pp. 112–120.
Hayati, K., and Sedaghat, P. (2016) ‘An evaluation of the links between quality of reporting and efficiency of investment in companies listed at Tehran Stock Exchange’, Problems and Perspectives in Management, 14(3), pp. 341–347.
Hoang, T. C., Abeysekera, I. and Ma, S. (2019) ‘Earnings Quality and Corporate Social Disclosure: The Moderating Role of State and Foreign Ownership in Vietnamese Listed Firms’, Emerging Markets Finance and Trade. Routledge, 55(2), pp. 272–288.
Houcine, A. (2017) ‘The effect of financial reporting quality on corporate investment efficiency: Evidence from the Tunisian stock market’, Research in International Business and Finance. Elsevier B.V., 42, pp. 321–337.
Hung, D. N., Van, V. T. T., and Phuong, N. T. T. (2020) ‘Impacts of earnings quality and debt maturity on investment efficiency: Study case in Vietnam’, International Journal of Financial Research, 11(4), pp. 421–431.
Huynh, Q. L. (2018) ‘Earnings Quality with Reputation and Performance, Asian Economic and Financial Review, 8(2), pp. 269–278.
Huynh, Q. L. (2019) ‘Reputation to the Vicious Circle of Earnings Quality’, Economics and Sociology Economics, 15(2), pp. 361–375.
Ibrahim, A. H., and Hanefah, M. M. (2016) ‘Board diversity and corporate social responsibility in Jordan’, Journal of Financial Reporting and Accounting, 14(2), pp. 279–298.
Javakhadze, D., Ferris, S. P., and French, D. W. (2016) ‘Social capital, investments, and external financing’, Journal of Corporate Finance, 37, pp. 38–55.
Jensen, M., and Meckling, W. (1976) ‘Theory of the firm: Managerial Behavior, Agency Costs, and Ownership Structure’, Journal of Financial Economics, 3(4), pp. 305--360.
Khanh, V. T., and Hung, D. N. (2020) ‘Impact of earnings quality on the debt maturity: The case of Vietnam’, Asian Economic and Financial Review, 10(1), pp. 1–12.
Kimouche, B. (2021) ‘the Persistence of Earnings and Earnings Components?: Evidence From Algerian’, Les cahiers du cread, 37(August 1955), pp. 101–129.
Krishnan, G. V., and Zhang, J. (2019) ‘Does Mandatory Adoption of IFRS Enhance Earnings Quality? Evidence From Closer to Home’, The International Journal of Accounting, 54(01), p. 1950003.
Latif, K., Bhatti, A. A., and Raheman, A. (2017) ‘Earnings Quality?: A Missing Link between Corporate Governance and Firm Value’, Business & Economic Review:, 9(2), pp. 255–280.
Al Lawati, H., Hussainey, K. and Sagitova, R. (2021) Disclosure quality vis ? à ? vis disclosure quantity?: Does audit committee matter in Omani financial institutions??, Review of Quantitative Finance and Accounting. Springer, 57(2), pp 557-594.
Lennox, C., Wu, X., and Zhang, T. (2016) ‘The effect of audit adjustments on earnings quality: Evidence from China’, Journal of Accounting and Economics, 61(2–3), pp. 545–562.
Li, V. (2019) ‘The effect of real earnings management on the persistence and informativeness of earnings’, British Accounting Review. Elsevier Ltd, 51(4), pp. 402–423.
Lv, P., and Xiong, H. (2022) ‘Can FinTech improve corporate investment efficiency? Evidence from China’, Research in International Business and Finance. Elsevier B.V., 60(September 2021), p. 101571.
Ma, C., and Jin, Y. (2016) ‘What Drives the Relationship Between Financial Flexibility and Firm Performance?: Investment Scale or Investment Efficiency?? Evidence from China’, Emerging Markets Finance and Trade, 52(9), pp. 2043–2055.
Ma, S., and Ma, L. (2017) ‘The association of earnings quality with corporate performance Evidence from the emerging market of China’, Pacific Accounting Review, 29(3), pp. 397–422.
McInnis, J. (2010) ‘Earnings smoothness, average returns, and implied cost of equity capital’, Accounting Review, 85(1), pp. 315–341.
Mclean, R. D., Zhang, T. and Zhao, M. (2012) ‘Why Does the Law Matter?? Investor Protection and Its Effects on Investment , Finance ’, The Journal of Finance, 67(1), 313-350.
Mnif, Y., and Imen, C. (2020) ‘Female board directorship and earnings management’, Pacific Accounting Review, 33(1), pp. 114–141.
Mukhtar, Z., Hashmi, S. H. and Asad, M. (2016) ‘Are Investment and Financing Decisions Reality Independent? Evidence from Chemical Sector of Pakistan’, Kinnah Business Review, 4(1), pp. 31–37.
Munjal, S., Singh, G., & Tijjani, B. (2021). Effect of earnings smoothness on firm performance: a study of Indian National Stock Exchange. Journal for Global Business Advancement, 14(3), 335-356.
Nguyen, P., Rahman, N. and Tong, A. (2015) ‘Board size and firm value?: evidence from Australia’, Journal of Management & Governance. Springer, 20(4).
Obeidat, B. Y. (2016) ‘Exploring the Relationship between Corporate Social Responsibility, Employee Engagement, and Organizational Performance: The Case of Jordanian Mobile Telecommunication Companies’, International Journal of Communications, Network and System Sciences, 09(09), pp. 361–386.
Omet, G. (2006) ‘Ownership structure and capital structure: Evidence from the Jordanian capital market (1995-2003)’, Corporate Ownership and Control, 3(4), pp. 99–107.
Parks, R. W. (1967) ‘Efficient Estimation of a System of Regression Equations when Disturbances are Both Serially and Contemporaneously Correlated, Journal of the American Statistical Association, 62(318), pp. 500–509.
Phan, T. A., and Duong, L. H. (2021) ‘The Effects of Corporate Governance Mechanisms on Firm Performance: Empirical Evidence from Vietnam’, Journal of Asian Finance, Economics and Business, 8(4), pp. 0369–0379.
Ramadan, I. Z. (2015) ‘Earnings Quality Determinants of the Jordanian Manufacturing Listed Companies’, International Journal of Economics and Finance, 7(5), pp. 140–146.
Rubino, F. E., Tenuta, P., and Cambrea, D. R. (2017) ‘Board characteristics effects on performance in family and non-family business: a multi-theoretical approach’, Journal of Management and Governance. Springer US, 21(3), pp. 623–658.
Sadaa, A. M., Ganesan, Y., Yet, C. E., Alkhazaleh, Q., & Alnoor, A. (2023). Corporate Governance as antecedents and Financial Distress as a Consequence of Credit Risk. Journal of Open Innovation: Technology, Market, and Complexity, 100051.
Sadaa, A. M., Ganesan, Y., Yet, C. E., & Alkhazaleh, Q. (2023). The Impact of Corporate Governance Practices on Non-Performing Loans in Iraqi Banks; The Moderating Effect of Concentrated Ownership. Journal of Public Administration and Governance, 13(1).
Salehi, M., Zimon, G., and Arianpoor, A. (2022) ‘The Impact of Investment Efficiency on Firm Value and Moderating Role of Institutional Ownership and Board Independence’, Journal of Risk and Financial Management, 15(4).
Shleifer, A., and Vushny, R. (1997) ‘Survey of Corporate Governance’, The Journal Of Finance, pp. 737–783.
Singla, H. K. (2020) ‘Does family ownership a ff ect the pro fi tability of construction and real estate fi rms?? Evidence from India’, Journal of Financial Management of Property and Construction, 25(1), pp. 107–124.
Sobel, M. E. (1982) ‘Asymptotic Confidence Intervals for Indirect Effects in Structural Equation Models’, Sociological Methodology, 13, p. 290-312.
Šodan, S. (2015) ‘The Impact of Fair Value Accounting on Earnings Quality in Eastern European Countries’, Procedia Economics and Finance. 32(15), pp. 1769–1786.
Sunday, O., Wisdom, O., and Ademola, A. (2020) ‘Financial Reporting Quality and Market Performance of Listed Deposit Money Banks ( DMB ) in Nigeria’, Journal of Economics, Management and Trade, 26(5), pp. 1–10.
Tabachnick, B. G., and Fidell, L. S. (2019) Using Multivariate Statistics. Seventh. Nothridge: Boston, MA: Pearson.
Titman, S., Wei, K., and Xie, F. (2003) ‘Capital investment and stock returns’.
Tobin, J. (1969) ‘A General Equilibrium Approach To Monetary Theory, Journal of Money, Credit and Banking, 1(1), pp. 15–29.
Tran, Q. T. (2020) ‘Foreign ownership and investment efficiency?: new evidence from an emerging market’, International Journal of Emerging Markets, 15(6), pp. 1185–1199.

(Alkhazaleh et al., 2024)
Alkhazaleh, Q. K. A., Shahbudin, A. S. M., & Ghazali, A. W. (2024). The Mediating Role of Investment Efficiency on The Relationship between Earnings Quality and Firm Performance. International Journal of Academic Research in Accounting Finance and Management Sciences, 14(1), 1–10.

Copyright: © 2024 The Author(s)
Published by HRMARS (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode