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Essays on governance and earnings ma...

Yu, Fang.

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Essays on governance and earnings management.

紀錄類型:	書目-語言資料,印刷品 : Monograph/item
正題名/作者:	Essays on governance and earnings management./
作者:	Yu, Fang.
面頁冊數:	95 p.
附註:	Adviser: Luigi Zingales.
Contained By:	Dissertation Abstracts International66-11A.
標題:	Business Administration, Accounting. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3195074
ISBN:	9780542405860

Essays on governance and earnings management.
Yu, Fang.

Essays on governance and earnings management. - 95 p.

Adviser: Luigi Zingales.

Thesis (Ph.D.)--The University of Chicago, 2005.

Chapter 1 examines equity analysts' influence on managers' earnings management decisions. Do analysts serve as external monitors to managers, or do they put excessive pressure on managers? Using multiple measures of earnings management, I find that firms followed by more analysts manage their earnings less. To address potential endogeneity problem of analyst coverage, I use two instrumental variables that are based on change in broker size and on firm's inclusion in the S&P 500 index, and find that the result is robust. In addition, given the size of coverage, analysts from top brokers and more experienced analysts have stronger effect against earnings management. The effect is also stronger for female analysts, who are likely to be more effective monitors for being outsiders of male-dominated corporate community.

ISBN: 9780542405860Subjects--Topical Terms:

1020666
Business Administration, Accounting.

Essays on governance and earnings management.
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245 1 0 $a Essays on governance and earnings management.
300 $a 95 p.
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500 $a Source: Dissertation Abstracts International, Volume: 66-11, Section: A, page: 4126.
502 $a Thesis (Ph.D.)--The University of Chicago, 2005.
520 $a Chapter 1 examines equity analysts' influence on managers' earnings management decisions. Do analysts serve as external monitors to managers, or do they put excessive pressure on managers? Using multiple measures of earnings management, I find that firms followed by more analysts manage their earnings less. To address potential endogeneity problem of analyst coverage, I use two instrumental variables that are based on change in broker size and on firm's inclusion in the S&P 500 index, and find that the result is robust. In addition, given the size of coverage, analysts from top brokers and more experienced analysts have stronger effect against earnings management. The effect is also stronger for female analysts, who are likely to be more effective monitors for being outsiders of male-dominated corporate community.
520 $a Chapter 2 studies the relationship between different corporate governance mechanisms and earnings management. I examine two categories of governance devices: internal (ownership concentration and board structure) and external (take-over pressure and institutional ownership). Controlling for other characteristics, I find that firms with stronger internal governance, such as higher ownership concentration and smaller board, manage earnings more, while firms with stronger external governance, such as higher institutional holdings and higher takeover pressure, manage earnings less. The evidence suggests that earnings management is not mainly driven by the conflict between ownership and control but by the conflict between insiders and outsiders.
590 $a School code: 0330.
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710 2 0 $a The University of Chicago. $3 1017389
773 0 $t Dissertation Abstracts International $g 66-11A.
790 $a 0330
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791 $a Ph.D.
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