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Earnings Manipulation and Expected Returns
16 references·16 citing·24 second hopsampled
Earnings Manipulation and Expected Returns (2013)Earnings Manipulation and Expected ReturnsPredicting Material Accounting Misstatements* (2011)Predicting Material Accountin…The Cost to Firms of Cooking the Books (2008)The Cost to Firms of Cooking …Asset Growth and the Cross‐Section of Stock Returns (2008)Asset Growth and the Cross‐Se…Accrual reliability, earnings persistence and stock prices (2005)Accrual reliability, earnings…Mutual Fund Flows and Performance in Rational Markets (2004)Mutual Fund Flows and Perform…Errors in Estimating Accruals: Implications for Empirical Research (2002)Errors in Estimating Accruals…Improved Methods for Tests of Long‐Run Abnormal Stock Returns (1999)Improved Methods for Tests of…On Persistence in Mutual Fund Performance (1997)On Persistence in Mutual Fund…The journal of financial economics (1993)The journal of financial econ…Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Returns to Buying Winners and…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…The Cross-Section of Expected Stock Returns (1992)The Cross-Section of Expected…Financial Ratios and the Probabilistic Prediction of Bankruptcy (1980)Financial Ratios and the Prob…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY (1968)FINANCIAL RATIOS, DISCRIMINAN…Financial Ratios As Predictors of Failure (1966)Financial Ratios As Predictor…Impact of earnings management on working capital management efficiency (2023)Impact of earnings management…Fraud triangle and earnings management based on the modified M-score: A study on manufacturing company in Indonesia (2023)Fraud triangle and earnings m…Did the Dodd–Frank Whistleblower Provision Deter Accounting Fraud? (2022)Did the Dodd–Frank Whistleblo…Scoring the financial distress and the financial statement fraud of Garuda Indonesia with «DDCC» as the financial solutions (2021)Scoring the financial distres…Chinese corporate distress prediction using LASSO: The role of earnings management (2021)Chinese corporate distress pr…Using the Beneish M-score model: Evidence from non-financial companies listed on the Warsaw Stock Exchange (2020)Using the Beneish M-score mod…The Cost of Fraud Prediction Errors (2020)The Cost of Fraud Prediction …Beneish M-score and Altman Z-score as a catalyst for corporate fraud detection (2020)Beneish M-score and Altman Z-…Real earnings management and corporate governance: a study of Latin America (2019)Real earnings management and …Detecting anomalies in financial statements using machine learning algorithm (2019)Detecting anomalies in financ…The use of accounting anomalies indicators to predict business failure (2018)The use of accounting anomali…Measuring fraud and earnings management by a case of study: Evidence from an international family business (2017)Measuring fraud and earnings …Firm- and Country-Level Attributes as Determinants of Earnings Management: An Analysis for Latin American Firms (2017)Firm- and Country-Level Attri…Detecting Financial Statement Fraud by Malaysian Public Listed Companies: The Reliability of the Beneish M-Score Model (2016)Detecting Financial Statement…In short supply: Short-sellers and stock returns (2015)In short supply: Short-seller…Alphanomics: The Informational Underpinnings of Market Efficiency (2015)Alphanomics: The Informationa…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Illiquidity and stock returns: cross-section and time-series effects (2002)A five-factor asset pricing model (2014)Conditional logit analysis of qualitative choice behavior (1972)The Effect of Audit Quality on Earnings Management* (1998)Forecasting Bankruptcy More Accurately: A Simple Hazard Model (2001)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Does the Stock Market Overreact? (1985)Multifactor Explanations of Asset Pricing Anomalies (1996)Investor Psychology and Security Market Under‐ and Overreactions (1998)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)THE PERFORMANCE OF MUTUAL FUNDS IN THE PERIOD 1945–1964 (1968)Costly Search and Mutual Fund Flows (1998)Asset Fire Sales (and Purchases) in Equity Markets (2005)How Active Is Your Fund Manager? A New Measure That Predicts Performance (2009)Luck versus Skill in the Cross‐Section of Mutual Fund Returns (2010)Methodological Issues Related to the Estimation of Financial Distress Prediction Models (1984)In Search of Distress Risk (2008)Boys will be Boys: Gender, Overconfidence, and Common Stock Investment (2001)Institutional Investors and Equity Prices (2001)Relational Contracts and the Theory of the Firm (2002)Managerial incentives and risk-taking☆ (2005)How does financial reporting quality relate to investment efficiency? (2009)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1997On Persistence in Mutual Fund Performance17,267 cited
  • 1992The Cross-Section of Expected Stock Returns17,251 cited
  • 1968FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY14,869 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1993Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency11,575 cited
  • 1980Financial Ratios and the Probabilistic Prediction of Bankruptcy6,005 cited
  • 1966Financial Ratios As Predictors of Failure4,753 cited
  • 1993The journal of financial economics2,544 cited
  • 2004Mutual Fund Flows and Performance in Rational Markets2,082 cited
  • 2011Predicting Material Accounting Misstatements*1,832 cited
  • 1999Improved Methods for Tests of Long‐Run Abnormal Stock Returns1,826 cited
  • 2002Errors in Estimating Accruals: Implications for Empirical Research1,683 cited
  • 2008Asset Growth and the Cross‐Section of Stock Returns1,595 cited
  • 2005Accrual reliability, earnings persistence and stock prices1,495 cited

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The Cost to Firms of Cooking the Books
1,315 cited

Cited by

  • 2015In short supply: Short-sellers and stock returns188 cited
  • 2022Did the Dodd–Frank Whistleblower Provision Deter Accounting Fraud?96 cited
  • 2020The Cost of Fraud Prediction Errors86 cited
  • 2019Detecting anomalies in financial statements using machine learning algorithm77 cited
  • 2016Detecting Financial Statement Fraud by Malaysian Public Listed Companies: The Reliability of the Beneish M-Score Model67 cited
  • 2017Firm- and Country-Level Attributes as Determinants of Earnings Management: An Analysis for Latin American Firms63 cited
  • 2021Chinese corporate distress prediction using LASSO: The role of earnings management60 cited
  • 2017Measuring fraud and earnings management by a case of study: Evidence from an international family business58 cited
  • 2020Beneish M-score and Altman Z-score as a catalyst for corporate fraud detection56 cited
  • 2015Alphanomics: The Informational Underpinnings of Market Efficiency55 cited
  • 2020Using the Beneish M-score model: Evidence from non-financial companies listed on the Warsaw Stock Exchange50 cited
  • 2018The use of accounting anomalies indicators to predict business failure49 cited
  • 2021Scoring the financial distress and the financial statement fraud of Garuda Indonesia with «DDCC» as the financial solutions46 cited
  • 2019Real earnings management and corporate governance: a study of Latin America44 cited
  • 2023Fraud triangle and earnings management based on the modified M-score: A study on manufacturing company in Indonesia41 cited
  • 2023Impact of earnings management on working capital management efficiency39 cited