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| Tekijä: | Leuz, C. Nanda, D. Wysocki, P.D. |
| Otsikko: | Earnings management and investor protection: an international comparison |
| Lehti: | Journal of Financial Economics
2003 : SEP, VOL. 69:3, p. 505-527 |
| Asiasana: | Corporate governance Earnings Investors Law International |
| Kieli: | eng |
| Tiivistelmä: | This paper examines systematic differences in earnings management across 31 countries proposing an explanation for differences based on the notion that insiders, in an attempt to protect their private control benefits, use earnings management to conceal firm performance from outsiders. Thus, earnings management is expected to decrease in investor protection because strong protection limits insiders' ability to acquire private control benefits, which reduces their incentives to mask firm performance. The findings of the paper are consistent with this prediction and suggest an endogenous link btw. corporate governance and the quality of reported earnings. |
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