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| Tekijä: | Cohen, D.A. Zarowin, P. |
| Otsikko: | Accrual-based and real earnings management activities around seasoned equity offerings |
| Lehti: | Journal of Accounting & Economics
2010 : MAY, VOL. 50:1, p. 2-19 |
| Asiasana: | earnings financial accounting empirical research performance appraisal decision making |
| Kieli: | eng |
| Tiivistelmä: | This paper shows that SEO firms engage in real activities manipulation, and the decline in post-SEO performance due to real activities management is more severe than that due to accrual management. This evidence is important, since it shows that post-SEO operating underperformance is driven by accrual reversals and it also reflects the real consequences of operational decisions made to manage earnings. The study also shows how firms' choices of real vs. accrual-based earnings management activities around SEOs vary predictably as a function of the firm's ability to use accrual management and the costs of doing so. |
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