𝔖 Bobbio Scriptorium
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Reply to discussion of “Earnings Management of Seasoned Equity Offering Firms in Korea”

✍ Scribed by Soon Suk Yoon; Gary A Miller


Book ID
114041949
Publisher
Elsevier Science
Year
2002
Tongue
English
Weight
55 KB
Volume
37
Category
Article
ISSN
0020-7063

No coin nor oath required. For personal study only.


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Earnings management and the underperform
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Seasoned equity issuers can raise reported earnings by altering discretionary accounting accruals. We find that issuers who adjust discretionary current accruals to report higher net income prior to the offering have lower post-issue long-run abnormal stock returns and net income. Interestingly, the