Non-GAAP earnings and stock price crash risk

• المؤلفون الرئيسيون: HSU, Charles, WANG, Rencheng, WHIPPLE, Benjamin C.
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2022
• الموضوعات: Non-GAAP earnings; Stock price crash risk; Disclosure; Regulation; Finance and Financial Management; Portfolio and Security Analysis
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/soa_research/1972; https://ink.library.smu.edu.sg/context/soa_research/article/2999/viewcontent/Non_GAAP_Earning_Stock_Price_Crash_sv.pdf
• المؤسسة: Singapore Management University

We investigate whether non-GAAP earnings disclosures increase stock price crash risk. Consistent with non-GAAP disclosures allowing managers to inflate investors' perceptions about firm performance, our results indicate that income increasing non-GAAP reporting increases crash risk. We also fin...