Earnings management of initial public offering firms: Evidence from regulation changes in China

Jianlei Liu, Konari Uchida, Ruidong Gao

研究成果: Contribution to journalArticle査読

24 被引用数 (Scopus)

抄録

Discretionary current accruals of Chinese initial public offering (IPO) firms decreased after the abolition of fixed-price offering systems that directly linked offering price to reported earnings. Results suggest IPO firms that decrease managerial ownership manage earnings upward during the fixed-price offering period, but this relationship disappeared after the introduction of a book-building system. We also find that bank debt is negatively related to discretionary current accruals during the fixed-price offering period, but no relation exists for the book-building period. Leverage has a significant positive relationship with earnings management. However, this finding is potentially attributable to nonoffering price objectives or endogeneity biases.

本文言語英語
ページ(範囲)505-537
ページ数33
ジャーナルAccounting and Finance
54
2
DOI
出版ステータス出版済み - 6 2014

All Science Journal Classification (ASJC) codes

  • 会計
  • 財務
  • 経済学、計量経済学および金融学(その他)

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