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The relationship between the smoothing of reported income and risk-adjusted returns
16 references·16 citing·36 second hopsampled
The relationship between the smoothing of reported income and risk-adjusted returns (2000)The relationship between the smoothing of…Detecting Earnings Management (2012)Detecting Earnings ManagementEarnings 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…Earnings management and the performance of seasoned equity offerings1I gratefully acknowledge the comments and suggestions of Philip Berger, Patricia Dechow, Kenneth Gaver (the referee), Robert Holthausen, Wayne Mikkelson (the editor), and Richard Sloan. I also thank Andrew Alford, Brad Barber, Randolph Beatty, Ilia Dichev, Paul Fisher, Gary Gorton, Paul Griffin, David Larcker, Mark Low, Patricia O'Brien, Madhav Rajan, Jay Ritter, Mark Vargus, Robert Verrecchia, Franco Wong, and workshop participants at the 1996 American Accounting Association meetings, Columbia University, Emory University, INSEAD, London Business School, MIT, New York University, Northwestern University, Purdue University, University of California at Davis, University of Chicago, University of Michigan, University of Minnesota, University of Pennsylvania, and Yale University for useful comments. I am indebted to Mark Vargus for access to his FORTRAN sub-routines. Errors and omissions are my responsibility.1 (1998)Earnings management and the p…Causes and Consequences of Earnings Manipulation: An Analysis of Firms Subject to Enforcement Actions by the SEC* (1996)Causes and Consequences of Ea…Detecting Earnings Management. (1995)Detecting Earnings Management.Contrarian Investment, Extrapolation, and Risk (1994)Contrarian Investment, Extrap…Aggregate accounting earnings can explain most of security returns (1992)Aggregate accounting earnings…The Management of Corporate Financial Disclosure: Opportunism, Ritualism, Policies, and Processes (1990)The Management of Corporate F…Cross-sectional variation in the stock market response to accounting earnings announcements (1989)Cross-sectional variation in …Earnings Management in an Overlapping Generations Model (1988)Earnings Management in an Ove…An Explanation for Accounting Income Smoothing (1988)An Explanation for Accounting…On corporate governance (1983)On corporate governanceEffects of recontracting on shareholder wealth (1983)Effects of recontracting on s…An income strategy approach to the positive theory of accounting standard setting/choice (1981)An income strategy approach t…Measuring security price performance (1980)Measuring security price perf…Corporate Forecasts of Earnings Per Share and Stock Price Behavior: Empirical Test (1976)Corporate Forecasts of Earnin…The relationship between tax avoidance and firm value with income smoothing (2018)The relationship between tax …The effect of managerial ability on tax avoidance by classical and Bayesian econometrics in multilevel models (2018)The effect of managerial abil…Bank Income Smoothing in South Africa: Role of Ownership, IFRS and Economic Fluctuation (2018)Bank Income Smoothing in Sout…The impact of income smoothing on earnings quality in emerging markets (2015)The impact of income smoothin…Earnings Quality in Nonprofit Versus For-Profit Organizations (2013)Earnings Quality in Nonprofit…Managerial ownership‐induced income smoothing and information asymmetry (2012)Managerial ownership‐induced …Evidence of earnings management using accruals as a measure of accounting discretion (2012)Evidence of earnings manageme…The smoothing hypothesis, stock returns and risk in Brazil (2011)The smoothing hypothesis, sto…Environmental uncertainty and the market pricing of earnings smoothness (2011)Environmental uncertainty and…An investigation of the motivation of hotel owners and operators to engage in earnings management (2011)An investigation of the motiv…Income smoothing, custo de capital de terceiros e estrutura de Capital no Brasil (2009)Income smoothing, custo de ca…Does public/private status affect the level of earnings management in code-law contexts outside the United States? A study based on the Spanish case (2007)Does public/private status af…Accounting manipulations and political costs: Tooth & Co Ltd, 1910–1965 (2007)Accounting manipulations and …Accruals, Income Smoothing and Bond Ratings (2006)Accruals, Income Smoothing an…The Use of Discretionary Provisions in Earnings Management: Evidence from The Netherlands (2004)The Use of Discretionary Prov…Long-run abnormal returns and income smoothing in the Spanish stock market (2004)Long-run abnormal returns and…An Empirical Evaluation of Accounting Income Numbers (1968)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Agency Problems and the Theory of the Firm (1980)Using daily stock returns (1985)Efficient Capital Markets: II (1991)EVENT STUDIES IN MANAGEMENT RESEARCH: THEORETICAL AND EMPIRICAL ISSUES. (1997)The theory and practice of econometrics (1986)Earnings Management During Import Relief Investigations (1991)Capital markets research in accounting (2001)Earnings Surprises, Growth Expectations, and Stock Returns or Don't Let an Earnings Torpedo Sink Your Portfolio (2002)The Bind that Ties: Socioemotional Wealth Preservation in Family Firms (2011)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Event Studies in Economics and Finance (1997)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)The economic implications of corporate financial reporting (2005)The Adjustment of Stock Prices to New Information (1969)Risk, Return, and Equilibrium: Empirical Tests (1973)Introductory Econometrics for Finance (2008)Common risk factors in the returns on stocks and bonds (1993)Investor Psychology and Security Market Under‐ and Overreactions (1998)The Cross-Section of Expected Stock Returns (1992)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Multifactor Explanations of Asset Pricing Anomalies (1996)Investor Sentiment and the Cross‐Section of Stock Returns (2006)The effect of capital structure on a firm's liquidation decision (1984)Evidence of Earnings Management from the Provision for Bad Debts (1988)The impact of cash flow volatility on discretionary investment and the costs of debt and equity financing (1999)Does Income Smoothing Improve Earnings Informativeness? (2006)Accounting earnings and cash flows as measures of firm performance (1994)Debt covenant violation and manipulation of accruals (1994)Earnings management and investor protection: an international comparison (2003)Earnings Management through Real Activities Manipulation (2003)Performance matched discretionary accrual measures (2005)
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References

  • 1995Detecting Earnings Management.6,532 cited
  • 1994Contrarian Investment, Extrapolation, and Risk4,198 cited
  • 1996Causes and Consequences of Earnings Manipulation: An Analysis of Firms Subject to Enforcement Actions by the SEC*4,076 cited
  • 2012Detecting Earnings Management3,821 cited
  • 1980Measuring security price performance3,330 cited
  • 1976Corporate Forecasts of Earnings Per Share and Stock Price Behavior: Empirical Test1,749 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.1,638 cited
  • 1983On corporate governance961 cited
  • 1988An Explanation for Accounting Income Smoothing907 cited
  • 1998Earnings management and the performance of seasoned equity offerings1I gratefully acknowledge the comments and suggestions of Philip Berger, Patricia Dechow, Kenneth Gaver (the referee), Robert Holthausen, Wayne Mikkelson (the editor), and Richard Sloan. I also thank Andrew Alford, Brad Barber, Randolph Beatty, Ilia Dichev, Paul Fisher, Gary Gorton, Paul Griffin, David Larcker, Mark Low, Patricia O'Brien, Madhav Rajan, Jay Ritter, Mark Vargus, Robert Verrecchia, Franco Wong, and workshop participants at the 1996 American Accounting Association meetings, Columbia University, Emory University, INSEAD, London Business School, MIT, New York University, Northwestern University, Purdue University, University of California at Davis, University of Chicago, University of Michigan, University of Minnesota, University of Pennsylvania, and Yale University for useful comments. I am indebted to Mark Vargus for access to his FORTRAN sub-routines. Errors and omissions are my responsibility.1

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838 cited
  • 1989Cross-sectional variation in the stock market response to accounting earnings announcements816 cited
  • 1988Earnings Management in an Overlapping Generations Model730 cited
  • 1990The Management of Corporate Financial Disclosure: Opportunism, Ritualism, Policies, and Processes634 cited
  • 1992Aggregate accounting earnings can explain most of security returns437 cited
  • 1981An income strategy approach to the positive theory of accounting standard setting/choice436 cited
  • 1983Effects of recontracting on shareholder wealth384 cited
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    • 2018The relationship between tax avoidance and firm value with income smoothing55 cited
    • 2009Income smoothing, custo de capital de terceiros e estrutura de Capital no Brasil53 cited
    • 2011Environmental uncertainty and the market pricing of earnings smoothness46 cited
    • 2018Bank Income Smoothing in South Africa: Role of Ownership, IFRS and Economic Fluctuation42 cited
    • 2018The effect of managerial ability on tax avoidance by classical and Bayesian econometrics in multilevel models38 cited
    • 2007Does public/private status affect the level of earnings management in code-law contexts outside the United States? A study based on the Spanish case38 cited
    • 2004Long-run abnormal returns and income smoothing in the Spanish stock market37 cited
    • 2007Accounting manipulations and political costs: Tooth & Co Ltd, 1910–196534 cited
    • 2011The smoothing hypothesis, stock returns and risk in Brazil33 cited
    • 2004The Use of Discretionary Provisions in Earnings Management: Evidence from The Netherlands32 cited
    • 2015The impact of income smoothing on earnings quality in emerging markets27 cited
    • 2012Evidence of earnings management using accruals as a measure of accounting discretion27 cited
    • 2006Accruals, Income Smoothing and Bond Ratings24 cited
    • 2013Earnings Quality in Nonprofit Versus For-Profit Organizations21 cited
    • 2011An investigation of the motivation of hotel owners and operators to engage in earnings management18 cited
    • 2012Managerial ownership‐induced income smoothing and information asymmetry17 cited