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Betting against real earnings management
Asian Review of Accounting, 2022PurposeThe study presents the zero investment strategies based on the pricing impact of real earnings management (REM) on stock returns after taking into account the direction and endogeneity nature of REM.Design/methodology/approachThe authors use standard portfolio methodology and Fama–Macbeth cross-sectional regression to analyze the data for this ...
Manish Bansal, Asgar Ali
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Real Earnings Management During Economic Downturns
SSRN Electronic Journal, 2023ABSTRACT This study examines the impact of economic downturns on real earnings management activities in an international setting. Using a sample of 27 countries between 1988 and 2016, I find that the extent of real earnings management increases and that the substitution relation between real earnings management and accrual-based earnings
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Cross‐Firm Real Earnings Management
Journal of Accounting Research, 2017ABSTRACTOur analysis is rooted in the notion that stockholders can learn about the fundamental value of any firm from observing the earnings reports of its rivals. We argue that such intraindustry information transfers, which have been broadly documented in the empirical literature, may motivate managers to alter stockholders’ beliefs about the value ...
ETI EINHORN +2 more
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Real Earnings Management in Sales
SSRN Electronic Journal, 2016We surveyed 1,638 sales executives, across 40 countries, regarding their companies’ likelihoods to ask sales to perform real-earnings-management (REM) actions when earnings pressure exists. Using this information, which we refer to as companies’ REM propensities, we study how company characteristics and environmental conditions relate to the responses ...
Craig J. Chapman +3 more
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Real earnings management around CEO turnovers
Accounting & Finance, 2015AbstractFollowing CEO turnovers, US firms adjust real business activities to manage earnings downwards (REM bath). This effect is most pronounced in firms with low levels of institutional ownership. REM baths early in CEOs’ tenure can be confounded with legitimate adjustments to business activities.
Paul Geertsema, David H. Lont, Helen Lu
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Real earnings management in bankrupt firms
Journal of Corporate Accounting & Finance, 2021AbstractWe investigate: (1) whether managers in bankrupt firms manipulate earnings through real earnings management (REM); (2) the incentives and tradeoff strategies to engage in REM; (3) how REM influences the subsequent firm performance and bankruptcy probability.
Chunhao Xu +3 more
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CFO Characteristics and Real Earnings Management
European Accounting Review, 2023We examine whether the characteristics of chief financial officers (CFOs) are associated with real earnings management (REM). Using hand-collected data on CFOs’ characteristics, we find that female CFOs and highly visible CFOs are associated with lower levels of REM, while CFOs with an MBA or with an accounting background are associated with higher ...
Domenico Campa +2 more
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Boards, takeover protection, and real earnings management
Review of Quantitative Finance and Accounting, 2009We investigate the effect of board governance and takeover protection on real earnings management. Four types of real earnings management are considered: sales manipulation, overproduction, the abnormal reduction of research and development (R&D) expenses, and the abnormal reduction of other discretionary expenditures. Using panel data from U.S. public
Wenxia Ge, Jeong-Bon Kim
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Real Earnings Management and Accrual-based Earnings Management in Family Firms
European Accounting Review, 2014We examine the effects of family firms on real earnings management (REM) and accrual-based earnings management (ABEM). Using socioemotional wealth as a theoretical framework and considering the different implications of REM and ABEM on family firms' transgenerational sustainability, we hypothesise and find for a sample of 402 German listed family firms
Ann Kristin Achleitner +3 more
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