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Earnings Inflation Through Accruals and Real Activity Manipulation: Its Prevalence at the Time of an SEO and the Financial Market Consequences
16 references·5 citing·42 second hop
Earnings Inflation Through Accruals and Real Activity Manipulation: Its Prevalence at the Time of an SEO and the Financial Market Consequences (2007)Earnings Inflation Through Accruals and R…Market Reactions to Tangible and Intangible Information (2006)Market Reactions to Tangible …The economic implications of corporate financial reporting (2005)The economic implications of …The Economic Implications of Corporate Financial Reporting (2004)The Economic Implications of …An Examination of Long‐Term Abnormal Stock Returns and Operating Performance Following R&D Increases (2004)An Examination of Long‐Term A…Panel Data Econometrics (2003)Panel Data EconometricsEarnings management and the underperformance of seasoned equity offerings11We thank Brad Barber (the referee), Randy Beatty, Vic Bernard, K.C. Chan, Kent Daniel, M. DeFond, Laura Field, David Heike, Chuan Yang Hwang, Jonathan Karpoff, S.P. Kothari, Charles Lee, Wayne Mikkelson (the editor), Tim Opler, Krishna Palepu, K. Ramesh, Jay Ritter, Terry Shevlin, Doug Skinner, Sheridan Titman, Ross Watts, Jerry Zimmerman, and seminar participants at the University of California Finance and Accounting Conference (Davis, March 1995), the NBER Corporate Finance Conference (Boston, August 1995), the Center for Research in Security Prices Seminar (Chicago, October 1995), the American Finance Association Conference (San Francisco, 1996), the American Accounting Association Conference (Chicago, August 1996), the University of Michigan, and the University of Rochester for helpful comments and discussions. (1998)Earnings management and the u…The Operating Performance of Firms Conducting Seasoned Equity Offerings (1997)The Operating Performance of …Do Stock Prices Fully Reflect Information in Accruals and Cash Flows about Future Earnings? (1997)Do Stock Prices Fully Reflect…Detecting long-run abnormal stock returns: The empirical power and specification of test statistics (1997)Detecting long-run abnormal s…Do Stock Prices Fully Reflect Information in Accruals and Cash Flows About Future Earnings? (1996)Do Stock Prices Fully Reflect…Underperformance in long-run stock returns following seasoned equity offerings (1995)Underperformance in long-run …The Limits of Arbitrage (1995)The Limits of ArbitrageDetecting Earnings Management. (1995)Detecting Earnings Management.Executive incentives and the horizon problem (1991)Executive incentives and the …Efficient Capital Markets, Inefficient Firms: A Model of Myopic Corporate Behavior (1989)Efficient Capital Markets, In…Formulation and estimation of dynamic models using panel data (1982)Formulation and estimation of…Earnings Management, Board Composition and Earnings Persistence in Emerging Market (2022)Earnings Management, Board Co…Does peer firm executive compensation affect earnings management? (2018)Does peer firm executive comp…Earnings quality and short selling: Evidence from real earnings management in the United States (2017)Earnings quality and short se…Majority Shareholder Ownership and Real Earnings Management: Evidence from Korea (2013)Majority Shareholder Ownershi…Real Earnings Management and Dividend Payout Signals: A Study for U.S. Real Estate Investment Trusts (2008)Real Earnings Management and …Investigating Causal Relations by Econometric Models and Cross-spectral Methods (1969)Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations (1991)Initial conditions and moment restrictions in dynamic panel data models (1998)Introductory Econometrics for Finance (2008)Panel Data Models With Interactive Fixed Effects (2009)Does Algorithmic Trading Improve Liquidity? (2011)On the Pooling of Time Series and Cross Section Data (1978)Estimation of Dynamic Models with Error Components (1981)Panel data and unobservable individual effects (1981)Using Online Conversations to Study Word-of-Mouth Communication (2004)Bank-specific, industry-specific and macroeconomic determinants of bank profitability (2006)How to do Xtabond2: An Introduction to Difference and System GMM in Stata (2007)Job Market Signaling (1973)Corporate financing and investment decisions when firms have information that investors do not have (1984)Dividend Policy under Asymmetric Information (1985)A Survey of Corporate Governance (1997)Corporate Governance and Equity Prices (2003)A model of investor sentiment /CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (1965)The Cross-Section of Expected Stock Returns (1992)Investor Sentiment and the Cross‐Section of Stock Returns (2006)Market Liquidity and Funding Liquidity (2008)Using daily stock returns (1985)Common risk factors in the returns on stocks and bonds (1993)Market efficiency, long-term returns, and behavioral finance1The comments of Brad Barber, David Hirshleifer, S.P. Kothari, Owen Lamont, Mark Mitchell, Hersh Shefrin, Robert Shiller, Rex Sinquefield, Richard Thaler, Theo Vermaelen, Robert Vishny, Ivo Welch, and a referee have been helpful. Kenneth French and Jay Ritter get special thanks.1 (1998)Capital markets research in accounting (2001)Earnings Management During Import Relief Investigations (1991)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)The theory and practice of corporate finance: evidence from the field (2001)Real and Accrual-Based Earnings Management in the Pre- and Post-Sarbanes-Oxley Periods (2008)A review of tax research (2010)Evidence on the Trade-Off between Real Activities Manipulation and Accrual-Based Earnings Management (2011)The market pricing of accruals quality (2005)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)Earnings management and investor protection: an international comparison (2003)Earnings Management through Real Activities Manipulation (2003)Performance matched discretionary accrual measures (2005)Editor's Choice Digesting Anomalies: An Investment ApproachInvestor Psychology and Asset Pricing (2001)… and the Cross-Section of Expected Returns (2015)Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting (2010)
this work references cited by second hop

References

  • 1995Detecting Earnings Management.6,532 cited
  • 2005The economic implications of corporate financial reporting6,337 cited
  • 1995The Limits of Arbitrage5,282 cited
  • 1982Formulation and estimation of dynamic models using panel data2,852 cited
  • 1997Detecting long-run abnormal stock returns: The empirical power and specification of test statistics2,690 cited
  • 1996Do Stock Prices Fully Reflect Information in Accruals and Cash Flows About Future Earnings?2,636 cited
  • 1989Efficient Capital Markets, Inefficient Firms: A Model of Myopic Corporate Behavior2,585 cited
  • 1997Do Stock Prices Fully Reflect Information in Accruals and Cash Flows about Future Earnings?2,181 cited
  • 2003Panel Data Econometrics2,123 cited
  • 2004The Economic Implications of Corporate Financial Reporting1,998 cited
  • 1998Earnings management and the underperformance of seasoned equity offerings11We thank Brad Barber (the referee), Randy Beatty, Vic Bernard, K.C. Chan, Kent Daniel, M. DeFond, Laura Field, David Heike, Chuan Yang Hwang, Jonathan Karpoff, S.P. Kothari, Charles Lee, Wayne Mikkelson (the editor), Tim Opler, Krishna Palepu, K. Ramesh, Jay Ritter, Terry Shevlin, Doug Skinner, Sheridan Titman, Ross Watts, Jerry Zimmerman, and seminar participants at the University of California Finance and Accounting Conference (Davis, March 1995), the NBER Corporate Finance Conference (Boston, August 1995), the Center for Research in Security Prices Seminar (Chicago, October 1995), the American Finance Association Conference (San Francisco, 1996), the American Accounting Association Conference (Chicago, August 1996), the University of Michigan, and the University of Rochester for helpful comments and discussions.

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1,638 cited
  • 1991Executive incentives and the horizon problem1,554 cited
  • 1997The Operating Performance of Firms Conducting Seasoned Equity Offerings1,098 cited
  • 1995Underperformance in long-run stock returns following seasoned equity offerings1,005 cited
  • 2006Market Reactions to Tangible and Intangible Information994 cited
  • 2004An Examination of Long‐Term Abnormal Stock Returns and Operating Performance Following R&D Increases916 cited
  • Cited by

    • 2017Earnings quality and short selling: Evidence from real earnings management in the United States37 cited
    • 2013Majority Shareholder Ownership and Real Earnings Management: Evidence from Korea34 cited
    • 2022Earnings Management, Board Composition and Earnings Persistence in Emerging Market30 cited
    • 2018Does peer firm executive compensation affect earnings management?29 cited
    • 2008Real Earnings Management and Dividend Payout Signals: A Study for U.S. Real Estate Investment Trusts25 cited