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Valuation Model of Defaultable Bond Values in Emerging Markets

โœ Scribed by C. H. Hui; C. F. Lo


Book ID
110403649
Publisher
Springer
Year
2002
Tongue
English
Weight
154 KB
Volume
9
Category
Article
ISSN
1573-6946

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The valuation of accounting earnings is related to the level of earnings management used by the fi rm. In emerging markets where earnings management is typically pervasive, investors lose confi dence in accounting earnings and thus tend to under-value earnings. Using data from Taiwan, we show that b