haku: @author Strong, N. / yhteensä: 6
viite: 1 / 6
« edellinen | seuraava »
| Tekijä: | Iqbal, A. Espenlaub, S. Strong, N. |
| Otsikko: | Earnings management around UK open offers |
| Lehti: | European Journal of Finance
2009 : JAN/FEB, VOL. 15:1-2, p. 29-51 |
| Asiasana: | stock markets earnings management United Kingdom USA |
| Kieli: | eng |
| Tiivistelmä: | This study examines the long run (here as: l-r.) operating and stock price performance (hereafter as: perf.) of U.K. open offer firms in the context of the earnings management hypothesis. It is found that in the pre-offer (as: p-off.) period, offer firms report significant improvements in their operating perf. unrelated to cash flow perf. Results on return perf. show that offer firms outperform various benchmarks in the p-off. year but there is underperformance (as: u-p.) up to four years after the offer. According to regression results, p-off. discretionary current accruals are shown to predict the l-r. post-offer return u-p. but do not predict the short-run reaction to SEO announcements. |
« edellinen | seuraava »
SCIMA