The impact of credit ratings and CEOs' work experience on earnings management and post-issue performance of U.S. IPOs
The IPO market is characterised by a high level of information asymmetry; thus, self-interested managers have strong incentives to overstate earnings during the IPO to inflate stock prices. Prior literature has provided evidence of earnings manipulation by managers around IPOs. If managers opportuni...
| Main Author: | |
|---|---|
| Published: |
University of Sussex
2016
|
| Subjects: | |
| Online Access: | https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.693202 |