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Majority Shareholder Ownership and Real Earnings Management: Evidence from Korea
16 references·2 citing·34 second hop
Majority Shareholder Ownership and Real Earnings Management: Evidence from Korea (2013)Majority Shareholder Ownership and Real E…The economic implications of corporate financial reporting (2005)The economic implications of …Earnings Management through Real Activities Manipulation (2003)Earnings Management through R…The separation of ownership and control in East Asian Corporations (2000)The separation of ownership a…Corporate Ownership Around the World (1999)Corporate Ownership Around th…Earnings management to avoid earnings decreases and losses (1997)Earnings management to avoid …Agency costs of free cash flow, corporate finance, and takeovers (1996)Agency costs of free cash flo…Earnings Management During Import Relief Investigations (1991)Earnings Management During Im…Prospect theory: An analysis of decision under risk (1988)Prospect theory: An analysis …Management ownership and market valuation (1988)Management ownership and mark…Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…The Structure of Corporate Ownership: Causes and Consequences (1985)The Structure of Corporate Ow…The Disposition to Sell Winners Too Early and Ride Losers Too Long: Theory and Evidence (1985)The Disposition to Sell Winne…Positive Accounting Theory (1985)Positive Accounting TheoryProspect Theory: An Analysis of Decision under Risk (1979)Prospect Theory: An Analysis …Theory 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…Internal corporate governance mechanisms and earnings manipulation practices in MENA countries (2022)Internal corporate governance…Does Real Activities Management Influence Earnings Quality and Stock Returns in Emerging Markets? Evidence from Korea (2019)Does Real Activities Manageme…Agency Problems and the Theory of the Firm (1980)Separation of Ownership and Control (1983)Corporate Forecasts of Earnings Per Share and Stock Price Behavior: Empirical Test (1976)Performance matched discretionary accrual measures (2005)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)Risk, Ambiguity, and the Savage Axioms (1961)Judgment under Uncertainty: Heuristics and Biases (1975)The Framing of Decisions and the Psychology of Choice (1981)Exploration and Exploitation in Organizational Learning (1991)Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance (2007)Theory of games and economic behavior (2019)GROWTH, BETA AND AGENCY COSTS AS DETERMINANTS OF DIVIDEND PAYOUT RATIOS (1982)Two Agency-Cost Explanations of Dividends (1984)Corporate performance and managerial remuneration (1985)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)What Do We Know about Capital Structure? Some Evidence from International Data (1995)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)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)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting (2010)A Survey of Corporate Governance (1997)Law and Finance (1998)Investor protection and corporate governance (2000)Earnings management and investor protection: an international comparison (2003)Advances in prospect theory: Cumulative representation of uncertainty (1992)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)
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References

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  • 1991Earnings Management During Import Relief Investigations8,369 cited
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  • 1985Positive Accounting Theory5,837 cited
  • 2000The separation of ownership and control in East Asian Corporations5,753 cited
  • 2003Earnings Management through Real Activities Manipulation5,422 cited
  • 1997Earnings management to avoid earnings decreases and losses3,839 cited
  • 1985

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The Disposition to Sell Winners Too Early and Ride Losers Too Long: Theory and Evidence
3,550 cited

Cited by

  • 2019Does Real Activities Management Influence Earnings Quality and Stock Returns in Emerging Markets? Evidence from Korea26 cited
  • 2022Internal corporate governance mechanisms and earnings manipulation practices in MENA countries18 cited