haku: @author Kirschenheiter, M. / yhteensä: 2
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| Tekijä: | Kirschenheiter, M. Melumad, N.D. |
| Otsikko: | Can "big bath" and earnings smoothing co-exist as equilibrium financial reporting strategies? |
| Lehti: | Journal of Accounting Research
2002 : JUN, VOL. 40:3, p. 761-796 |
| Asiasana: | Earnings Financial reporting |
| Kieli: | eng |
| Tiivistelmä: | A model of financial reporting where investors infer the precision of reported earnings is studied in this article. Reporting a larger earnings surprise reduces the inferred earnings precision, dampening the impact on company value of reporting higher earnings, and providing a natural demand for smoother earnings. It is shown that for sufficiently "bad" news, the manager under-reports earnings by the maximum, preferring to take a "big bath" in the current period to order to report higher future earnings. |
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