Real and accrual earnings management around ipos : US evidence
作者： Ben-Hsien Bao , Richard Chung , Yanjun Niu , Steven Wei
关键词:
摘要: This study examines the presence of real activities manipulation (REM) IPO firms utilizing cross-sectional regressions on each industry-year (Roychowdhury, 2006). The examined in this paper include sales manipulation, reduction discretionary expenses and overproduction. We show that have significantly negative abnormal cash flows from operations positive production costs year. findings suggest not only manipulate accruals to inflate reported earnings, but also engage manipulation. firms. decisions earnings year is positively related amounts proceeds negatively underwriters. reputation rankings venture capital.
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sci-hub.st 参考文章(42)
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