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The influence of institutional investors on opportunistic earnings management
16 references·10 citing·35 second hop
The influence of institutional investors on opportunistic earnings management (2008)The influence of institutional investors …Detecting Earnings Management (2012)Detecting Earnings ManagementEarnings management and corporate governance: the role of the board and the audit committee (2003)Earnings management and corpo…Institutional monitoring and opportunistic earnings management (2002)Institutional monitoring and …Audit committee, board of director characteristics, and earnings management (2002)Audit committee, board of dir…Do Institutional Investors Prefer Near‐Term Earnings over Long‐Run Value?* (2001)Do Institutional Investors Pr…Discretionary-accruals models and audit qualifications (2000)Discretionary-accruals models…Accounting Accruals and Auditor Reporting Conservatism* (1999)Accounting Accruals and Audit…Shareholder Activism by Institutional Investors: Evidence from CalPERS (1996)Shareholder Activism by Insti…Liquidity versus Control: The Institutional Investor as Corporate Monitor (1991)Liquidity versus Control: The…Earnings Management During Import Relief Investigations (1991)Earnings Management During Im…Proxy contests and the efficiency of shareholder oversight (1988)Proxy contests and the effici…Large Shareholders and Corporate Control (1986)Large Shareholders and Corpor…Positive Accounting Theory (1985)Positive Accounting TheoryTheory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…The Modern Corporation and Private Property (1933)The Modern Corporation and Pr…The impact of catholic religion on earnings management: A case of Poland (2021)The impact of catholic religi…Real earnings management and corporate governance: a study of Latin America (2019)Real earnings management and …Family, institutional investors ownerships and corporate performance: the case of Indonesia (2018)Family, institutional investo…Does innovation strategy affect financial, social and environmental performance? (2016)Does innovation strategy affe…Corporate governance and transparency: evidence from stock return synchronicity (2015)Corporate governance and tran…CEO Emotional Intelligence and Firms’ Financial Policies. Bayesian Network Method (2014)CEO Emotional Intelligence an…Institutional investors, corporate governance, and earnings management around merger: Evidence from French absorbing firms (2013)Institutional investors, corp…Investor’s psychology commitment level and escalatory behavior in investment decision (2012)Investor’s psychology commitm…CEO emotional bias and dividend policy: Bayesian network method (2012)CEO emotional bias and divide…Corporate Governance and Risk Management Information Disclosure in Malaysian Listed Banks: Panel Data Analysis (2011)Corporate Governance and Risk…Corporate Forecasts of Earnings Per Share and Stock Price Behavior: Empirical Test (1976)Earnings Management through Real Activities Manipulation (2003)Separation of Ownership and Control (1983)Opaque financial reports, R2, and crash risk☆ (2009)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)A review of archival auditing research (2014)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency costs of free cash flow, corporate finance, and takeovers (1996)Corporate Disclosure Practices, Institutional Investors, and Stock Return Volatility (2000)Environmental risk management and the cost of capital (2008)Hedge Fund Activism, Corporate Governance, and Firm Performance (2008)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)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)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)Detecting Earnings Management. (1995)Higher market valuation of companies with a small board of directors (1996)Corporate Governance, Accounting Outcomes, and Organizational Performance (2007)The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey (2010)Mergers and the Market for Corporate Control (1965)Takeover Bids, The Free-Rider Problem, and the Theory of the Corporation (1980)A Survey of Corporate Governance (1997)Law and Finance (1998)Corporate Ownership Around the World (1999)The Nature of the Firm (1937)The Pricing of Options and Corporate Liabilities (1973)Corporate financing and investment decisions when firms have information that investors do not have (1984)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)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Performance matched discretionary accrual measures (2005)The economic implications of corporate financial reporting (2005)
this work references cited by second hop

References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1986Large Shareholders and Corporate Control8,403 cited
  • 1991Earnings Management During Import Relief Investigations8,369 cited
  • 1933The Modern Corporation and Private Property7,361 cited
  • 1985Positive Accounting Theory5,837 cited
  • 2002Audit committee, board of director characteristics, and earnings management4,633 cited
  • 2012Detecting Earnings Management3,821 cited
  • 2003Earnings management and corporate governance: the role of the board and the audit committee2,787 cited
  • 1996Shareholder Activism by Institutional Investors: Evidence from CalPERS1,291 cited
  • 2001Do Institutional Investors Prefer Near‐Term Earnings over Long‐Run Value?*1,280 cited
  • 1988Proxy contests and the efficiency of shareholder oversight1,052 cited
  • 2000Discretionary-accruals models and audit qualifications952 cited
  • 2002Institutional monitoring and opportunistic earnings management948 cited
  • 1991Liquidity versus Control: The Institutional Investor as Corporate Monitor924 cited

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  • 1999Accounting Accruals and Auditor Reporting Conservatism*877 cited
  • Cited by

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    • 2019Real earnings management and corporate governance: a study of Latin America44 cited
    • 2011Corporate Governance and Risk Management Information Disclosure in Malaysian Listed Banks: Panel Data Analysis36 cited
    • 2015Corporate governance and transparency: evidence from stock return synchronicity34 cited
    • 2013Institutional investors, corporate governance, and earnings management around merger: Evidence from French absorbing firms32 cited
    • 2018Family, institutional investors ownerships and corporate performance: the case of Indonesia27 cited
    • 2021The impact of catholic religion on earnings management: A case of Poland21 cited
    • 2012CEO emotional bias and dividend policy: Bayesian network method19 cited
    • 2014CEO Emotional Intelligence and Firms’ Financial Policies. Bayesian Network Method18 cited
    • 2012Investor’s psychology commitment level and escalatory behavior in investment decision2 cited