How does carbon emissions trading policy affect accrued earnings management in corporations? Evidence from China

被引：15
|
作者：
Long, Wenbin [1 ]
Qu, Xin [2 ]
Yin, Saifeng [1 ,3 ]
机构：
[1] Guangdong Univ Foreign Studies, Sch Accounting, Guangzhou, Peoples R China
[2] Queensland Univ Technol, Sch Accountancy, QUT Business Sch, Brisbane, Australia
[3] Guangdong Univ Foreign Studies, Sch Accounting, Guangzhou 510006, Guangdong, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2023年 / 55卷
基金：
中国国家自然科学基金;
关键词：
Carbon emissions trading; Environmental regulation; Earnings management; Accounting accruals; Difference-in-differences; EXPOSURE;
D O I：
10.1016/j.frl.2023.103840
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper examines the impact of carbon emissions trading scheme (ETS) on firms' accrued earnings management. Based on Chinese A-share listed firms from 2008 to 2020, we find that emission-regulated firms significantly engage in accrued earnings management after implementing ETS. The impact is strengthened for firms with a lower cost pass-through ability and firms with a higher carbon emissions intensity. The results from mechanism analysis support that firms are motivated to manage earnings by the compliance costs and carbon risks associated with the new environmental regulation. Insights are provided into the potential downside consequence of the carbon emission trading policy.
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页数：9
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