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دسته بندی:
مدیریت مالی - Financial Management
سال انتشار:
2015
عنوان انگلیسی مقاله:
Exchange Listing Type and Firm Financial Reporting Behavior
ترجمه فارسی عنوان مقاله:
تبادل ملک و رفتار گزارش مالی شرکت
منبع:
sciencedirect-doi: 10.1016/j.iref.2015.02.030
نویسنده:
Wen-Chun Lin,SC Tsai-Ling Liao
چکیده انگلیسی:
We examine the link between the choice of firms to switch exchanges and managers’ financial reporting behavior, and the impact of this link on post-listing performance. Among three types of SCRIPT exchange listings, NASDAQ-to-AMEX firms report significantly higher pre-listing abnormal accruals than do NASDAQ-to-NYSE and AMEX-to-NYSE firms. The pre-listing abnormal accruals are negatively associated with the post-listing performance, with the association driven mainly by NASDAQ-to-AMEX firms. These results suggest that the type of listing change affects managers’ reporting behavior in the sense that the switch to an exchange with stricter listing standards appears to mitigate managerial incentives to inflate reported earnings. Keywords: Exchange Listings; Listing Requirements; Discretionary Accruals JEL classification: G14, G32, M41
قیمت: رایگان
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