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題名 Information Uncertainty, Earnings Management, and Long-Run Stock Performance Following Initial Public Offerings
作者 陳聖賢
Chen, Sheng-Syan
Lin, Wen-Chun
Chang, Shao-Chi
Lin, Chih-Yen
貢獻者 財管系
關鍵詞 initial public offerings; information uncertainty; earnings’ management; long-runstock performance
日期 2013
上傳時間 11-Jun-2018 18:18:23 (UTC+8)
摘要 We examine how information uncertainty surrounding IPO (initial public offering) firms influences earnings management and long‐run stock performance. For low‐information‐uncertainty issuers, at‐issue earnings’ management is positively related to subsequent unmanaged earnings and has no relationship to market reaction to earnings announcement and long‐run stock performance following the offering. For high‐information‐uncertainty issuers, however, at‐issue earnings’ management is unrelated to subsequent unmanaged earnings and negatively related to market reaction to earnings announcement and long‐run stock performance following the offer. The evidence suggests that, on average, managers in low‐information‐uncertainty firms tend to engage in earnings’ management for informative purposes, while managers in high‐information‐uncertainty firms engage in earnings’ management for opportunistic purposes.
關聯 Journal of Business Finance and Accounting, Vol.40, No.9&10, pp.1126-1154
資料類型 article
DOI http://dx.doi.org/10.1111/jbfa.12046
dc.contributor 財管系zh_TW
dc.creator (作者) 陳聖賢zh_TW
dc.creator (作者) Chen, Sheng-Syanen_US
dc.creator (作者) Lin, Wen-Chunen_US
dc.creator (作者) Chang, Shao-Chien_US
dc.creator (作者) Lin, Chih-Yenen_US
dc.date (日期) 2013
dc.date.accessioned 11-Jun-2018 18:18:23 (UTC+8)-
dc.date.available 11-Jun-2018 18:18:23 (UTC+8)-
dc.date.issued (上傳時間) 11-Jun-2018 18:18:23 (UTC+8)-
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/117575-
dc.description.abstract (摘要) We examine how information uncertainty surrounding IPO (initial public offering) firms influences earnings management and long‐run stock performance. For low‐information‐uncertainty issuers, at‐issue earnings’ management is positively related to subsequent unmanaged earnings and has no relationship to market reaction to earnings announcement and long‐run stock performance following the offering. For high‐information‐uncertainty issuers, however, at‐issue earnings’ management is unrelated to subsequent unmanaged earnings and negatively related to market reaction to earnings announcement and long‐run stock performance following the offer. The evidence suggests that, on average, managers in low‐information‐uncertainty firms tend to engage in earnings’ management for informative purposes, while managers in high‐information‐uncertainty firms engage in earnings’ management for opportunistic purposes.en_US
dc.format.extent 295194 bytes-
dc.format.mimetype application/pdf-
dc.relation (關聯) Journal of Business Finance and Accounting, Vol.40, No.9&10, pp.1126-1154zh_TW
dc.subject (關鍵詞) initial public offerings; information uncertainty; earnings’ management; long-runstock performanceen_US
dc.title (題名) Information Uncertainty, Earnings Management, and Long-Run Stock Performance Following Initial Public Offeringsen_US
dc.type (資料類型) article
dc.identifier.doi (DOI) 10.1111/jbfa.12046
dc.doi.uri (DOI) http://dx.doi.org/10.1111/jbfa.12046