Do firms change earnings management behavior after receiving financial forecast warnings?

Global Finance Journal - Tập 27 - Trang 1-17 - 2015
Yu-Hsuan Chung1, Lee-Hsien Pan2, Shaio Yan Huang2, K.C. Chen3
1Department of Finance, National Sun Yat-sen University, 70 Lienhai Rd., Kaohsiung 80424, Taiwan, ROC
2Department of Accounting and Information Technology, National Chung Cheng University, 168 University Road, Minhsiung Township, Chiayi County 62102, Taiwan, ROC
3Department of Finance and Business Law, California State University, Fresno, 5245 N. Backer Ave., Fresno, CA 93740, USA

Tài liệu tham khảo

Baginski, 2002, The effect of legal environment on voluntary disclosure: Evidence from management earnings forecasts issued in U.S. and Canadian markets, The Accounting Review, 77, 25, 10.2308/accr.2002.77.1.25 Barton, 2002, The balance sheet as an earnings management constraint, The Accounting Review, 77, 1, 10.2308/accr.2002.77.s-1.1 Bartov, 2002, The rewards to meeting or beating earnings expectations, Journal of Accounting and Economics, 33, 173, 10.1016/S0165-4101(02)00045-9 Beyer, 2010, The financial reporting environment: Review of the recent literature, Journal of Accounting and Economics, 50, 296, 10.1016/j.jacceco.2010.10.003 Brown, 2005, Management forecasts and litigation risk Chi, 2011, Is enhanced audit quality associated with greater real earnings management?, Accounting Horizons, 25, 315, 10.2308/acch-10025 Claessens, 2000, The separation of ownership and control in East Asian corporations, Journal of Financial Economics, 57, 81, 10.1016/S0304-405X(00)00067-2 Cohen, 2008, Real and accrual-based earnings management in the pre- and post-Sarbanes Oxley period, The Accounting Review, 83, 757, 10.2308/accr.2008.83.3.757 Cohen, 2010, Accrual-based and real earnings management activities around seasoned equity offerings, Journal of Accounting and Economics, 50, 2, 10.1016/j.jacceco.2010.01.002 Dechow, 2000, Earnings management: Reconciling the views of accounting academics, practitioners, and regulators, Accounting Horizons, 14, 235, 10.2308/acch.2000.14.2.235 DeFond, 1994, Debt covenant violation and manipulation of accruals, Journal of Accounting and Economics, 17, 145, 10.1016/0165-4101(94)90008-6 Degeorge, 1999, Earnings management to exceed thresholds, Journal of Business, 72, 1, 10.1086/209601 Field, 2005, Does disclosure deter or trigger litigation?, Journal of Accounting and Economics, 39, 487, 10.1016/j.jacceco.2005.04.004 Fields, 2001, Empirical research on accounting choice, Journal of Accounting and Economics, 31, 255, 10.1016/S0165-4101(01)00028-3 Gong, 2009, The association between management earnings forecast errors and accruals, The Accounting Review, 84, 497, 10.2308/accr.2009.84.2.497 Gow, 2010, Correcting for cross-sectional and time-series dependence in accounting research, The Accounting Review, 85, 483, 10.2308/accr.2010.85.2.483 Graham, 2005, The economic implications of corporate financial reporting, Journal of Accounting and Economics, 40, 3, 10.1016/j.jacceco.2005.01.002 Gunny, 2010, The relation between earnings management using real activities manipulation and future performance: Evidence form meeting earnings benchmarks, Contemporary Accounting Research, 27, 855, 10.1111/j.1911-3846.2010.01029.x Heckman, 1979, Sample selection bias as a specification error, Econometrica, 47, 153, 10.2307/1912352 Hirst, 2008, Management earnings forecasts: A review and framework, Accounting Horizons, 22, 315, 10.2308/acch.2008.22.3.315 Jaggi, 2006, Earnings forecast disclosure regulation and earnings management: Evidence from Taiwan IPO firms, Review of Quantitative Finance and Accounting, 26, 275, 10.1007/s11156-006-7434-2 Kasznik, 1999, On the association between voluntary disclosure and earnings management, Journal of Accounting Research, 37, 57, 10.2307/2491396 Kasznik, 1995, To warn or not to warn: Management disclosures in the face of an earnings surprise, The Accounting Review, 70, 113 Kasznik, 2002, Does meeting earnings expectations matter? Evidence from analyst forecast revisions and share prices, Journal of Accounting Research, 40, 727, 10.1111/1475-679X.00069 La Porta, 1998, Law and finance, Journal of Political Economy, 106, 1113, 10.1086/250042 Petersen, 2009, Estimating standard errors in finance panel data sets: Comparing approaches, Review of Financial Studies, 22, 435, 10.1093/rfs/hhn053 Rogers, 2005, Credibility of management forecasts, The Accounting Review, 80, 1233, 10.2308/accr.2005.80.4.1233 Rogers, 2009, Shareholder litigation and changes in disclosure behavior, Journal of Accounting and Economics, 47, 136, 10.1016/j.jacceco.2008.04.003 Rogers, 2011, Disclosure tone and shareholder litigation, The Accounting Review, 86, 2155, 10.2308/accr-10137 Roychowdhury, 2006, Earnings management through real activities manipulation, Journal of Accounting and Economics, 42, 335, 10.1016/j.jacceco.2006.01.002 Skinner, 1994, Why firms voluntarily disclose bad news, Journal of Accounting Research, 32, 38, 10.2307/2491386 Skinner, 1997, Earnings disclosures and stockholder lawsuits, Journal of Accounting and Economics, 23, 249, 10.1016/S0165-4101(97)00010-4 Xu, 2010, Do management earnings forecasts incorporate information in accruals?, Journal of Accounting and Economics, 49, 227, 10.1016/j.jacceco.2009.11.005 Zang, 2012, Evidence on the trade-off between real activities manipulation and accrual-based earnings management, The Accounting Review, 87, 675, 10.2308/accr-10196