Product market power, industry structure, and corporate earnings management
Tóm tắt
Từ khóa
Tài liệu tham khảo
Adams, 2009, Earnings management and initial public offerings: the case of the depository industry, Journal of Banking and Finance, 33, 2363, 10.1016/j.jbankfin.2009.06.015
Aghion, 1999, Competition, financial discipline and growth, Review of Economic Studies, 66, 825, 10.1111/1467-937X.00110
Aghion, 2005, Competition and innovation: an inverted-U relationship, The Quarterly Journal of Economics, 120, 701
Akdogu, 2012, Product markets and corporate investment: theory and evidence, Journal of Banking and Finance, 35, 439, 10.1016/j.jbankfin.2011.08.001
Allen, 2000
Bagnoli, M., Watts, S.G., 2007. Oligopoly, Disclosure and Earnings Management. Working Paper. Purdue University.
Balakrishnan, K., Cohen, D., 2011. Product Market Competition, Financial Accounting Misreporting and Corporate Governance: Evidence from Accounting Restatements. Working Paper. New York University.
Bartov, 2001, Discretionary-accrual models and audit qualifications, Journal of Accounting and Economics, 30, 421, 10.1016/S0165-4101(01)00015-5
Bebchuk, 2004, What matters in corporate governance?, Review of Financial Studies, 22, 783, 10.1093/rfs/hhn099
Becker, 1998, The effect of audit quality on earnings management, Contemporary Accounting Research, 15, 1, 10.1111/j.1911-3846.1998.tb00547.x
Beneish, 2002, Insider trading, earnings quality, and accrual mispricing, The Accounting Review, 77, 755, 10.2308/accr.2002.77.4.755
Bergstresser, 2006, CEO incentives and earnings management, Journal of Financial Economics, 80, 511, 10.1016/j.jfineco.2004.10.011
Bowen, 2008, Accounting discretion, corporate governance and firm performance, Contemporary Accounting Research, 25, 351, 10.1506/car.25.2.3
Collins, 2000, Earnings-based and accrual-based market anomalies: one effect or two?, Journal of Accounting and Economics, 29, 101, 10.1016/S0165-4101(00)00015-X
Cremers, 2008, Takeover defenses and competition, Journal of Empirical Legal Studies, 5, 791, 10.1111/j.1740-1461.2008.00141.x
Curry, 1983, Industrial concentration: a survey, The Journal of Industrial Economics, 31, 203, 10.2307/2097885
Datta, 2011, Product market pricing power, industry concentration and analysts’ earnings forecasts, Journal of Banking and Finance, 35, 1352, 10.1016/j.jbankfin.2010.10.016
Dechow, 1995, Detecting earnings management, The Accounting Review, 70, 193
Dechow, 1996, Causes and consequences of earnings manipulation: an analysis of firms subject to enforcement actions by the SEC, Contemporary Accounting Research, 13, 1, 10.1111/j.1911-3846.1996.tb00489.x
Demsetz, 1973, Industry structure, market rivalry, and public policy, Journal of Law and Economics, 16, 1, 10.1086/466752
Diamond, 1991, Disclosure, liquidity, and the cost of capital, Journal of Finance, 46, 1325, 10.1111/j.1540-6261.1991.tb04620.x
Domowitz, 1986, Business cycles and the relationship between concentration and price-cost margins, RAND Journal of Economics, 17, 1, 10.2307/2555624
Erickson, 1999, Earnings management by acquiring firms in stock for stock mergers, Journal of Accounting and Economics, 27, 149, 10.1016/S0165-4101(99)00008-7
Fama, 1980, Agency problems and the theory of the firm, Journal of Political Economy, 88, 288, 10.1086/260866
Fan, 2002, Corporate ownership structure and the informativeness of accounting earnings in East Asia, Journal of Accounting and Economics, 33, 401, 10.1016/S0165-4101(02)00047-2
Gaspar, 2006, Idiosyncratic volatility and product market competition, Journal of Business, 79, 3125, 10.1086/505251
Gertner, 1988, Simultaneous signaling to the capital and product markets, RAND Journal of Economics, 19, 173, 10.2307/2555698
Giroud, 2011, Corporate governance, product market competition, and equity prices, Journal of Finance, 66, 563, 10.1111/j.1540-6261.2010.01642.x
Gompers, 2003, Corporate governance and equity prices, Quarterly Journal of Economics, 118, 107, 10.1162/00335530360535162
Graham, 2005, The economic implications of corporate financial reporting, Journal of Accounting and Economics, 40, 3, 10.1016/j.jacceco.2005.01.002
Grullon, G., Michaely, R., 2007. Corporate Payout Policy and Product Market Competition. Working Paper. Rice University.
Guadalupe, M., Pérez-González, F., 2010. Competition and Private Benefits of Control. Working Paper. INSEAD.
Guidry, 1999, Earnings-based bonus plans and earnings management by business unit managers, Journal of Accounting and Economics, 26, 113, 10.1016/S0165-4101(98)00037-8
Harris, 1998, The association between competition and managers’ business segment reporting decisions, Journal of Accounting Research, 36, 111, 10.2307/2491323
Hart, 1983, The market mechanism as an incentive scheme, The Bell Journal of Economics, 14, 366, 10.2307/3003639
Haushalter, 2006, The influence of product market dynamics on a firm’s cash holdings and hedging behavior, Journal of Financial Economics, 84, 797, 10.1016/j.jfineco.2006.05.007
Hayes, 1996, Segment reporting to the capital market in the presence of a competitor, Journal of Accounting Research, 34, 261, 10.2307/2491502
Healy, 1999, A review of the earnings management literature and its implications for standard setting, Accounting Horizons, 13, 365, 10.2308/acch.1999.13.4.365
Hermalin, 2012, Information disclosure and corporate governance, Journal of Finance, 67, 195, 10.1111/j.1540-6261.2011.01710.x
Hoberg, 2010, Real and financial industry booms and busts, Journal of Finance, 65, 45, 10.1111/j.1540-6261.2009.01523.x
Hribar, 2002, Errors in estimating accruals: implications for empirical research, Journal of Accounting Research, 40, 105, 10.1111/1475-679X.00041
Jagannathan, 1999, Does product market competition reduce agency costs?, The North American Journal of Economics and Finance, 10, 387, 10.1016/S1062-9408(99)00033-9
Jones, 1991, Earnings management during import relief investigations, Journal of Accounting Research, 29, 193, 10.2307/2491047
Kale, 2011, Product market power and stock market liquidity, Journal of Financial Markets, 14, 376, 10.1016/j.finmar.2010.10.003
Karuna, 2007, Industry product market competition and managerial incentives, Journal of Accounting and Economics, 43, 275, 10.1016/j.jacceco.2007.02.004
Klein, 2002, Audit committees, board of director characteristics and earnings management, Journal of Accounting and Economics, 33, 375, 10.1016/S0165-4101(02)00059-9
Kothari, 2005, Performance matched discretionary accruals, Journal of Accounting and Economics, 39, 161, 10.1016/j.jacceco.2004.11.002
Kothari, S., Loutskina, E., Nikolaev, V., 2006. Agency Theory of Overvalued Equity as an Explanation for the Accrual Anomaly. Working Paper. MIT Sloan School of Management.
Lang, 1996, Corporate disclosure policy and analyst behavior, The Accounting Review, 71, 467
Lee, 2006, Performance, growth and earnings management, Review of Accounting Studies, 11, 305, 10.1007/s11142-006-9009-9
Lee, 2010, CFO resignations: their underlying performance and behavioural context, International Journal of Behavioral Accounting and Finance, 1, 312, 10.1504/IJBAF.2010.032845
Lerner, 1934, The concept of monopoly and the measurement of monopoly power, Review of Economic Studies, 1, 157, 10.2307/2967480
Leuz, 2000, The economic consequences of increased disclosure, Journal of Accounting Research, 38, 91, 10.2307/2672910
Lindenberg, 1981, Tobin’s q ratio and industrial organization, Journal of Business, 54, 1, 10.1086/296120
Maksimovic, 2001, Technological innovation and initial public offerings, Review of Financial Studies, 14, 459, 10.1093/rfs/14.2.459
Milgrom, 1992
Minton, 1999, The impact of cash flow volatility on discretionary investment and the costs of debt and equity financing, Journal of Financial Economics, 54, 423, 10.1016/S0304-405X(99)00042-2
Nalebuff, 1983, Prices and incentives: towards a general theory of compensation and competition, Bell Journal of Economics, 14, 21, 10.2307/3003535
Narayanan, 1985, Managerial incentives for short-term results, Journal of Finance, 40, 1469, 10.1111/j.1540-6261.1985.tb02395.x
Peress, 2010, Product market competition, insider trading and stock market efficiency, Journal of Finance, 6, 1, 10.1111/j.1540-6261.2009.01522.x
Perry, 1994, Earnings management preceding management buyout offers, Journal of Accounting and Economics, 18, 157, 10.1016/0165-4101(94)00362-9
Peteraf, 1993, The cornerstones of competitive advantage: a resource-based view, Strategic Management Journal, 14, 179, 10.1002/smj.4250140303
Porter, 1980
Raith, 2003, Competition risk and managerial incentives, American Economic Review, 93, 1425, 10.1257/000282803769206395
Rangan, 1998, Earnings management and the performance of seasoned equity offerings, Journal of Financial Economics, 50, 101, 10.1016/S0304-405X(98)00033-6
Ronen, 2008, Earnings management, emerging insights in theory, practice, and research, Springer Series in Accounting Scholarship, 3
Rotemberg, 1990, Shareholder-value maximization and product-market competition, Review of Financial Studies, 3, 367, 10.1093/rfs/3.3.367
Salop, 1979, Strategic entry deterrence, American Economic Review, 69, 335
Scharfstein, 1988, The disciplinary role of takeovers, Review of Economic Studies, 55, 185, 10.2307/2297576
Schmidt, 1997, Managerial incentives and product market competition, Review of Economic Studies, 64, 191, 10.2307/2971709
Shleifer, 2004, Does competition destroy ethical behavior?, American Economic Review, 94, 414, 10.1257/0002828041301498
Shleifer, 1997, A survey of corporate governance, Journal of Finance, 52, 737, 10.1111/j.1540-6261.1997.tb04820.x
Skinner, 2002, Earnings surprises, growth expectations, and stock returns or don’t let an earnings torpedo sink your portfolio, Review of Accounting Studies, 7, 289, 10.1023/A:1020294523516
Stivers, 2004, Unraveling of information: competition and uncertainty, BE Journal of Theoretical Economics, 4, 1
Symeonidis, 2002
Teoh, 1998, Earnings management and the long-run performance of initial public offerings, Journal of Finance, 53, 1935, 10.1111/0022-1082.00079
Tirole, J., 1998. The Theory of Industrial Organization. ISBN:978-0-262-20071-4.
Verrecchia, 1983, Discretionary disclosure, Journal of Accounting and Economics, 5, 365, 10.1016/0165-4101(83)90011-3
Verrecchia, 2006, Redacted disclosure, Journal of Accounting Research, 44, 791, 10.1111/j.1475-679X.2006.00216.x
Yu, 2008, Analyst coverage and earnings management, Journal of Financial Economics, 88, 245, 10.1016/j.jfineco.2007.05.008