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| Author: | Spohr, J. |
| Title: | Earnings management and IPOs - Evidence from Finland |
| Journal: | Liiketaloudellinen aikakauskirja
2004 : 2, p. 157-172 |
| Index terms: | Earnings Shares Initial public offerings Companies Finland Nordic countries |
| Freeterms: | Ownership |
| Language: | eng |
| Abstract: | The paper studies the presence of earnings management in initial public offerings (IPOs) of Finnish firms. Earnings management is tested by observing time-series profiles of accruals. The sample consists of 56 firms that went public btw. 1994 and 2000 on the Helsinki Stock Exchange. The results suggest that IPO firms where the largest owners are physical persons (entrepreneurs) are more likely to use earnings management than firms that are institutionally owned. |
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