Earnings management, initial public offerings and corporate governance - evidence from Singapore.

In this study, we seek to investigate the earnings manipulation behaviour exhibited amongst firms listed in Singapore, preceding their initial public offering (IPO) issuance. We investigate how earnings management and earnings manipulation behaviour of firms differ under different restrictions and...

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Main Authors: Koh, Mingfeng., Tan, Raymond Wee Hian., Yaw, Lee Yan.
Other Authors: Kwok, Branson Chi Hing
Format: Final Year Project
Published: 2008
Subjects:
Online Access:http://hdl.handle.net/10356/9988
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Institution: Nanyang Technological University
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spelling sg-ntu-dr.10356-99882023-05-19T05:41:37Z Earnings management, initial public offerings and corporate governance - evidence from Singapore. Koh, Mingfeng. Tan, Raymond Wee Hian. Yaw, Lee Yan. Kwok, Branson Chi Hing Nanyang Business School DRNTU::Business::Finance::Corporate governance In this study, we seek to investigate the earnings manipulation behaviour exhibited amongst firms listed in Singapore, preceding their initial public offering (IPO) issuance. We investigate how earnings management and earnings manipulation behaviour of firms differ under different restrictions and when corporate governance is imposed. Our sample consists of 31 firms across various industries that issue IPO during the period 2002-2004. Results from the first part of our study show that IPO firms manipulate their discretionary current accruals in the years preceding IPO issue. Besides that, results from the second part of our study indicate that there are no significant differences in the accruals behaviour between IPO firms with at least one-third independent directors on board against those that are not ; IPO firms listed in SESDAQ versus Mainboard; IPO firms having big 5 auditors versus non big 5 auditors ; and IPO firms having prestigious underwriters versus non-prestigious underwriters . One implication from our results could be that the above devices such as high quality auditors and prestigious underwriters do not really matter in restricting the level of managed earnings in Singapore. 2008-09-24T07:38:33Z 2008-09-24T07:38:33Z 2006 2006 Final Year Project (FYP) http://hdl.handle.net/10356/9988 Nanyang Technological University application/pdf
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
topic DRNTU::Business::Finance::Corporate governance
spellingShingle DRNTU::Business::Finance::Corporate governance
Koh, Mingfeng.
Tan, Raymond Wee Hian.
Yaw, Lee Yan.
Earnings management, initial public offerings and corporate governance - evidence from Singapore.
description In this study, we seek to investigate the earnings manipulation behaviour exhibited amongst firms listed in Singapore, preceding their initial public offering (IPO) issuance. We investigate how earnings management and earnings manipulation behaviour of firms differ under different restrictions and when corporate governance is imposed. Our sample consists of 31 firms across various industries that issue IPO during the period 2002-2004. Results from the first part of our study show that IPO firms manipulate their discretionary current accruals in the years preceding IPO issue. Besides that, results from the second part of our study indicate that there are no significant differences in the accruals behaviour between IPO firms with at least one-third independent directors on board against those that are not ; IPO firms listed in SESDAQ versus Mainboard; IPO firms having big 5 auditors versus non big 5 auditors ; and IPO firms having prestigious underwriters versus non-prestigious underwriters . One implication from our results could be that the above devices such as high quality auditors and prestigious underwriters do not really matter in restricting the level of managed earnings in Singapore.
author2 Kwok, Branson Chi Hing
author_facet Kwok, Branson Chi Hing
Koh, Mingfeng.
Tan, Raymond Wee Hian.
Yaw, Lee Yan.
format Final Year Project
author Koh, Mingfeng.
Tan, Raymond Wee Hian.
Yaw, Lee Yan.
author_sort Koh, Mingfeng.
title Earnings management, initial public offerings and corporate governance - evidence from Singapore.
title_short Earnings management, initial public offerings and corporate governance - evidence from Singapore.
title_full Earnings management, initial public offerings and corporate governance - evidence from Singapore.
title_fullStr Earnings management, initial public offerings and corporate governance - evidence from Singapore.
title_full_unstemmed Earnings management, initial public offerings and corporate governance - evidence from Singapore.
title_sort earnings management, initial public offerings and corporate governance - evidence from singapore.
publishDate 2008
url http://hdl.handle.net/10356/9988
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