Earnings Management and Seasoned Bond Offerings: Do Managers Mislead the Bond Market?
Using discretionary current accruals, we study the earnings management (EM) efforts of firms surrounding seasoned bond offerings. Our results indicate significant EM efforts by issuers in the year of the offering, which is consistent with the notion that issuers attempt to “window dress” their firms...
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| Main Authors: | , , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2009
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/1799 |
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| Institution: | Singapore Management University |
| Language: | English |