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Author: Craig M. Lewis
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper investigates how firms that made initial public offerings of equity between 1975 and 1984 report earnings. For a sample of 489 firms, we find a positive association between a proxy for income smoothing and firm performance. Firms that perform well tend to report earnings with less variability relative to cash from operations; while firms that perform poorly tend to report earnings that increase earnings variability relative to cash from operations. In addition, the five-year earnings response coefficient is greater for firms that are able to smooth earnings relative to cash flows. This result is consistent with a hypothesis that the market makes better assessments of the information content of earnings for firms with smoother earnings. Finally, we show that IPO firms tend to use discretionary accruals to smooth income relative to prior year's earnings.
Author: Karuppiah S. Rajendran
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 240
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Book Description
Author: Craig M. Lewis
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper investigates how firms that made initial public offerings of equity between 1975 and 1984 report earnings. For a sample of 489 firms, we find a positive association between a proxy for income smoothing and firm performance. Firms that perform well tend to report earnings with less variability relative to cash from operations; while firms that perform poorly tend to report earnings that increase earnings variability relative to cash from operations. In addition, the five-year earnings response coefficient is greater for firms that are able to smooth earnings relative to cash flows. This result is consistent with a hypothesis that the market makes better assessments of the information content of earnings for firms with smoother earnings. Finally, we show that IPO firms tend to use discretionary accruals to smooth income relative to prior year's earnings.
Author: Fernando Bravo Herrera
Publisher:
ISBN:
Category : Cash flow
Languages : en
Pages : 306
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Book Description
Author: Eugene A. Imhoff
Publisher:
ISBN:
Category : Income
Languages : en
Pages : 340
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Book Description
Author: Dale Buckmaster
Publisher: Elsevier
ISBN: 9780762308040
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
This volume describes the development of accounting thought during the 20th century by focusing on a relatively narrow and long-lived issue, income smoothing. A chronological review of English-language literature referring to income smoothing behaviour is conducted that covers 1893 to 1998.
Author: Johan de Keulenaer
Publisher:
ISBN:
Category :
Languages : en
Pages : 86
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Author: Joseph Capute
Publisher:
ISBN:
Category : Corporations
Languages : en
Pages : 24
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Author: David J. Gosselin
Publisher:
ISBN:
Category : Discriminant analysis
Languages : en
Pages : 334
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Author: Eugene A. Imhoff
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: James Rosser Collins
Publisher:
ISBN:
Category : Corporations
Languages : en
Pages : 372
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Book Description
