کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5069835 1373208 2009 7 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Do firms' earnings management practices affect their equity liquidity?
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Do firms' earnings management practices affect their equity liquidity?
چکیده انگلیسی

This study investigates the relationship between earnings management and equity liquidity, positing that as incentives arise for the manipulation of firm performance through earnings management (due partly to conflicts of interest between firm insiders and outsiders), greater earnings management may signal higher adverse selection costs. If earnings manipulation reveals aggressive accounting practices, liquidity providers tend to widen bid-ask spreads to protect themselves. The empirical results indicate that companies with higher earnings management suffer lower equity liquidity.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Finance Research Letters - Volume 6, Issue 3, September 2009, Pages 152-158
نویسندگان
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