Evidence that the zero-earnings discontinuity has disappeared

被引：70

作者：

Gilliam, Thomas A. ^{[1
]}

Heflin, Frank ^{[2
]}

Paterson, Jeffrey S. ^{[2
]}

机构：

[1] IE Univ, IE Business Sch, Madrid 28006, Spain

[2] Florida State Univ, Coll Business, Tallahassee, FL 32306 USA

来源：

JOURNAL OF ACCOUNTING & ECONOMICS | 2015年 / 60卷 / 01期

关键词：

Earnings discontinuities; Earnings distributions; Loss avoidance; MANAGEMENT; REAL; DECREASES; KINKY;

D O I：

10.1016/j.jacceco.2014.07.001

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Discontinuities in earnings distributions at zero have been widely cited as evidence of earnings management but not without controversy. Recent research suggests discontinuities may be mere artifacts of certain research design choices. We find that the well-known zero-earnings discontinuity disappears soon after passage of the Sarbanes-Oxley Act (SOX) and has not returned. We also find that neither the discontinuity nor its disappearance require the effects of widely cited alternative (non-earnings management) explanations for the zero-earnings discontinuity. (C) 2014 Elsevier BM. All rights reserved.

引用

页码：117 / 132

页数：16

共 51 条

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