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Robert Hull and Shane Van Dalsem
This paper?s purpose is to compare nonprofits with pass-throughs in terms of valuation, leverage, and growth. To achieve this purpose, we use the Capital Structure Model. This model determines maximum firm valuation through incorporating real data (tax r...
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Samar Alharbi, Md Al Mamun and Nader Atawnah
We examine the impact of corporate risk-taking on firm-level real earnings management. We find that firms with higher risk-taking engage in higher real earnings management. Our results are robust to a series of robustness tests, including simultaneous le...
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Hui Zhou, Worapree Ole Maneesoonthorn and Xiangjin Bruce Chen
A fundamental role of financial reporting is to provide information useful in forecasting future cash flows. Applying up-to-date time series modelling techniques, this study provides direct evidence on the usefulness of quarterly data in predicting futur...
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Sam Bock Park, Sung-Kyoo Kim and Sangryul Lee
Studies on the characteristics of insolvent firms? earnings management are critical, as the ripple effects of a firm?s opportunistic accounting and insolvency on society can be widespread and significant. This study divides a dataset of unlisted firms in...
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Hyun Min Oh, Sam Bock Park and Jong Hyun Kim
We examine whether analysts? cash flow forecasts improve firm value. First, we analyze whether the joint issuance of financial analysts? earnings and cash flow forecasts improve firm value. Second, we analyze whether the quality of analysts? cash flow fo...
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