کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5093013 1376109 2006 26 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Earnings Management, Corporate Governance and the Market Performance of Seasoned Equity Offerings in Hong Kong
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار، مدیریت و حسابداری (عمومی)
پیش نمایش صفحه اول مقاله
Earnings Management, Corporate Governance and the Market Performance of Seasoned Equity Offerings in Hong Kong
چکیده انگلیسی

This paper examines the use of discretionary current accruals by firms that make seasoned equity offers (SEOs). We find evidence suggesting that firms borrow future income to manage earnings in pre-issue years and consequently earnings decrease in post-issue year 2. However, we find no evidence that pre-issue discretionary accruals affect future stock returns. We find evidence that family-owned firms are more likely to use positive discretionary accruals prior to making an SEO, independent directors and outside blockholders constrain earnings management in family-controlled firms and SEO firms that have a larger board size have a higher degree of earnings management around SEOs.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Contemporary Accounting & Economics - Volume 2, Issue 1, June 2006, Pages 73-98
نویسندگان
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