Articlebronze2003

Earnings Management Around Share Repurchases: A Note

Nikos Vafeas · Adamos Vlittis · Philippos Katranis · Kanalis A. Ockree

25 citations0/0 files storedAbacus

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Auditing, Earnings Management, Governance Corporate Finance and Governance Corporate Governance and Financial Management

Abstract

This work examines a subset of the important area of earnings management. Specifically, it seeks to identify the extent of earnings management preceding self‐tender offers for a sample of U.S. firms. Pre‐repurchase total accruals and discretionary current accruals were found to be somewhat lower for a sample of self‐tendering firms compared to a sample of industry‐ and performance‐matched control firms. Weak evidence of post‐buyback accruals reversal is also presented. The evidence is weakly consistent with the notion that share repurchases are employed by managers to exploit shareholders through earnings management.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 25 citations exist upstream.

References

1991Earnings Management During Import Relief Investigations 1999A Review of the Earnings Management Literature and Its Implications for Standard Setting 1996Causes and Consequences of Earnings Manipulation: An Analysis of Firms Subject to Enforcement Actions by the SEC*1998Earnings Management and the Long‐Run Market Performance of Initial Public Offerings 1999Board meeting frequency and firm performance 1995Market underreaction to open market share repurchases 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.1996Detecting abnormal operating performance: The empirical power and specification of test statistics

Cited by

2008On‐market share buybacks, exercisable share options and earnings management

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.