Results 241 to 250 of about 341,548 (268)
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Beating Earnings Benchmarks and the Cost of Debt
The Accounting Review, 2006Prior research documents that firms tend to beat three earnings benchmarks: zero earnings, last year's earnings, and analyst's forecasted earnings, and that there are both equity market and compensation-related benefits associated with beating these benchmarks.
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The Accounting Review, 2000
This paper provides evidence that managers strategically select the prior-period earnings amount that is used as a benchmark to evaluate current-period earnings in quarterly earnings announcements. Managers are more likely to separately announce a prior-period gain from the sale of property, plant, and equipment (PPE) than a loss.
Catherine M. Schrand, Beverly R. Walther
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This paper provides evidence that managers strategically select the prior-period earnings amount that is used as a benchmark to evaluate current-period earnings in quarterly earnings announcements. Managers are more likely to separately announce a prior-period gain from the sale of property, plant, and equipment (PPE) than a loss.
Catherine M. Schrand, Beverly R. Walther
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Earnings Management of Chinese Listed Firms: Discretionary Accruals and Earnings Benchmarks
2011This paper examines how earnings benchmarks of firms listed in Mainland China may lead to earnings management through use of discretionary accruals. We compared discretionary accrual levels of small profit firms and small loss firms before and after controlling for the effect of two published benchmarks.
Ying Que, Peter Secord
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The Effect of Missing a Quarterly Earnings Benchmark on the CEO's Annual Bonus
The Accounting Review, 2001We investigate the effects of missing quarterly earnings benchmarks on the CEO's annual bonus. After controlling for the general pay-for-performance relation, we find a significant incremental adverse effect on CEO annual cash bonuses when the firm's quarterly earnings fall short of the consensus analyst forecast or the earnings for the same quarter of
Park, CW, Matsunaga, SR
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On the Use of Naive Expectations of Earnings per Share as Experimental Benchmarks*
Economic Record, 1982Both martingale and submartingale processes have been used as experimental benchmarks for corporate earnings forecasts or expectations in a large number of studies. This paper investigates the relative accuracy of forecasts from these two processes for a sample of Australian'firms. Submartingale models incorporating drift factors estimated over a large
FINN, FRANK J., WHITTRED, G. P.
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Corporate Life Cycle and Real Earnings Management: The Role of Earnings Benchmarks
Review of Pacific Basin Financial Markets and PoliciesThis study investigates real activities manipulation to meet earnings benchmarks across corporate life cycle stages. Focusing on prioritization, magnitude, and mechanisms, we show that growth and mature firms focus on avoiding earnings decreases, while declining firms prioritize avoiding losses. The magnitude of real activities manipulation follows a U-
Mikiharu Noma, Miki Tanaka
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Australian Journal of Management, 2016
This study investigates whether the abnormal returns at the quarterly earnings announcement date varies according to the market’s expectations of the nature (informative vs opportunistic) and extent of discretionary accruals for firms that meet or beat expectations (MBE). In doing so, this study introduces an innovative model that measures the market’s
Lento, Camillo +2 more
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This study investigates whether the abnormal returns at the quarterly earnings announcement date varies according to the market’s expectations of the nature (informative vs opportunistic) and extent of discretionary accruals for firms that meet or beat expectations (MBE). In doing so, this study introduces an innovative model that measures the market’s
Lento, Camillo +2 more
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Ex-Ante Pre Managed Earnings Benchmarks and Earnings Management of Australian Firms
2010This study investigates benchmark beating behaviour and circumstances under which managers may inflate income to beat earnings benchmarks. Using a sample of Australian firms from 2000 to 2006, we find that when the underlying ex-ante pre-managed earnings are below prior year’s earnings, firms are more likely to exercise positive discretionary accruals ...
Lan Sun, Subhrendu Rath
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Natural Disasters and Meeting‐or‐Beating Earnings Benchmarks
Accounting & FinanceABSTRACT We hypothesise and find evidence that when natural disasters occur, managers are motivated to meet or beat the dynamic earnings benchmark (i.e., analyst earnings forecast) but not the static earnings benchmarks (i.e., zero or ...
Jonghan Park, Tianming Zhang
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The Impact of Meeting Earnings Benchmarks in a Multiperiod Oligopoly Setting
2014This study investigates how managing earnings through real activities manipulation in order to meet an earnings benchmark and alter competition in the firms product market. We consider a two-period oligopoly setting where a firms first-period real decisions are not only strategically made but are used to convey proprietary information to its rival.
Hao-Chang Sung, Min-Teh Yu
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