Earnings management : evidence from intial public offerings of equity carve-outs.
Chua, Elizabeth Cheng Lian.
Koh, Cheryl Chea Lin.
Lee, Lian Fen.
Date of Issue2002
College of Business (Nanyang Business School)
In the presence of more public information on equity carve-outs as compared to pre-listed ordinary firms, this paper hypothesizes that carve-outs manage their earnings upward prior to initial public offerings in the face of management incentives. Using the Jones (1991) model, we find support for our hypothesis.
Final Year Project (FYP)
Nanyang Technological University