Please use this identifier to cite or link to this item: http://hdl.handle.net/11455/99372
標題: The relationship between external financing activities and earnings management: Evidence from enterprise risk management
作者: Teng-Shih Wang
林宜勉
Yi-Mien Lin
Edward M. Werner
Hsihui Chang
關鍵字: Enterprise risk management
External financing activities
Accrual-based earnings management
Real activities earnings management
Corporate governance
摘要: This study examines the impact of external financing activities on earnings management decisions and further explores the role of enterprise risk management (ERM) as a potential moderating factor in this association. We find that managers use both real-activities and accrual-based earnings management when engaging in equity financing activities. Moreover, when firms have weaker ERM systems, we find that managers are less likely to use real-activities earnings management in their equity financing efforts. Therefore, our policy-relevant findings suggest that weaker ERM systems can signal poor control mechanisms and attract additional investor scrutiny, thus constraining managers' use of real-activities earnings manipulation to harm long-term firm value.
URI: http://hdl.handle.net/11455/99372
文章連結: https://www.sciencedirect.com/science/article/pii/S105905601830114X
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