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Takeover Threats, Job Security Concerns, and Earnings Management.

紀錄類型:	書目-語言資料,手稿 : Monograph/item
正題名/作者:	Takeover Threats, Job Security Concerns, and Earnings Management./
作者:	Sul, Edward S.
面頁冊數:	1 online resource (82 pages)
附註:	Source: Dissertation Abstracts International, Volume: 78-11(E), Section: A.
Contained By:	Dissertation Abstracts International78-11A(E).
標題:	Accounting. -
電子資源:	click for full text (PQDT)
ISBN:	9781369874464

Takeover Threats, Job Security Concerns, and Earnings Management.
Sul, Edward S.

Takeover Threats, Job Security Concerns, and Earnings Management. - 1 online resource (82 pages)

Source: Dissertation Abstracts International, Volume: 78-11(E), Section: A.

Thesis (Ph.D.)

Includes bibliographical references

I exploit the international, staggered adoption of takeover laws in order to examine the effect of increased turnover sensitivity to performance on managers' financial reporting choices. Using a difference-in-difference design, I find that the enactment of laws designed to promote takeover activity is associated with greater earnings management (abnormally high accruals, small positive earnings, discretionary earnings smoothing and poor accruals quality) and greater opacity (reduced analyst forecast accuracy and following and greater forecast dispersion). This is consistent with managers responding to increased risk of termination by distorting earnings information. As predicted, results are particularly pronounced for managers with the highest ex ante risk of termination and at firms with poor performance. The effects are mitigated in countries in which strong institutions limit the CEOs' ability to manage earnings and create opacity. Overall, my results suggest that reforms aimed at enhancing governance through higher turnover sensitivity to performance encourage earnings management and opacity by increasing job security concerns.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9781369874464Subjects--Topical Terms:

561166
Accounting.
Index Terms--Genre/Form:

554714
Electronic books.

Takeover Threats, Job Security Concerns, and Earnings Management.
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100 1 $a Sul, Edward S. $3 1183437
245 1 0 $a Takeover Threats, Job Security Concerns, and Earnings Management.
264 0 $c 2017
300 $a 1 online resource (82 pages)
336 $a text $b txt $2 rdacontent
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500 $a Source: Dissertation Abstracts International, Volume: 78-11(E), Section: A.
500 $a Advisers: Robert M. Bushman; Mark H. Lang.
502 $a Thesis (Ph.D.) $c The University of North Carolina at Chapel Hill $d 2017.
504 $a Includes bibliographical references
520 $a I exploit the international, staggered adoption of takeover laws in order to examine the effect of increased turnover sensitivity to performance on managers' financial reporting choices. Using a difference-in-difference design, I find that the enactment of laws designed to promote takeover activity is associated with greater earnings management (abnormally high accruals, small positive earnings, discretionary earnings smoothing and poor accruals quality) and greater opacity (reduced analyst forecast accuracy and following and greater forecast dispersion). This is consistent with managers responding to increased risk of termination by distorting earnings information. As predicted, results are particularly pronounced for managers with the highest ex ante risk of termination and at firms with poor performance. The effects are mitigated in countries in which strong institutions limit the CEOs' ability to manage earnings and create opacity. Overall, my results suggest that reforms aimed at enhancing governance through higher turnover sensitivity to performance encourage earnings management and opacity by increasing job security concerns.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Accounting. $3 561166
655 7 $a Electronic books. $2 local $3 554714
690 $a 0272
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a The University of North Carolina at Chapel Hill. $b Business Administration. $3 1183438
773 0 $t Dissertation Abstracts International $g 78-11A(E).
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10268269 $z click for full text (PQDT)