Can financial analysts constrain real earnings management in emerging markets? Evidence from China

被引：8
|
作者：
Li, Su [1 ]
Ding, Fangfei [1 ]
Liu, Qianqian [1 ]
Qiao, Ziwei [1 ]
Chen, Zhiyu [1 ]
机构：
[1] Hunan Univ, Dept Accounting, Sch Business, Changsha, Peoples R China
来源：
ASIA-PACIFIC JOURNAL OF ACCOUNTING & ECONOMICS | 2022年 / 29卷 / 05期
基金：
中国国家自然科学基金;
关键词：
Analyst coverage; real earnings management; profitability; forecast revisions;
D O I：
10.1080/16081625.2020.1871043
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We examine the effect of financial analysts on real earnings management in China. Our empirical results show a negative relationship between analyst coverage and real earnings management. This relationship exists within the full sample and sub-sample of firms meeting or beating earnings benchmarks. It survives tests to address endogeneity problems. We also find that real earnings management can impair companies' profitability and analysts will revise their earnings forecasts downward for firms with aggressive real earnings management. Further research suggests that analysts can also curb accrual earnings management.
引用
收藏
页码：1208 / 1226
页数：19
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