Please use this identifier to cite or link to this item:
Appears in Collections:Accounting and Finance Working Papers
Title: Earnings Management in IPOs: Determinants and Post-IPO Performance
Author(s): Ahmad-Zaluki, Nurwati A
Campbell, Kevin
Goodacre, Alan
Contact Email:
Citation: Ahmad-Zaluki NA, Campbell K & Goodacre A (2009) Earnings Management in IPOs: Determinants and Post-IPO Performance.
Keywords: initial public offerings
earnings management
ownership structure
long run stock market performance
Issue Date: 31-Dec-2009
Date Deposited: 3-Apr-2013
Abstract: The paper provides general evidence of income-increasing earnings management in Malaysian IPOs but this occurs primarily during a period of severe economic stress (the East Asian crisis). The requirement to provide a profit guarantee appears to reduce rather than encourage earnings management. Within this high ownership concentration market, ownership concerns also appear to constrain IPO earnings management. Owners are willing to forego 'opportunistic' earnings management and signalling opportunities to increase their likelihood of retaining control of the company post-IPO. IPO companies engaging in aggressive earnings management have significantly worse market-based performance than their more conservative counterparts, but only during the economic crisis period.
Type: Working Paper
Affiliation: Northern University of Malaysia
Accounting & Finance
Accounting & Finance

Files in This Item:
File Description SizeFormat 
Campbell_2009_Earnings_management_in_Malaysian_IPOs.pdfFulltext - Accepted Version389.18 kBAdobe PDFView/Open

This item is protected by original copyright

Items in the Repository are protected by copyright, with all rights reserved, unless otherwise indicated.

The metadata of the records in the Repository are available under the CC0 public domain dedication: No Rights Reserved

If you believe that any material held in STORRE infringes copyright, please contact providing details and we will remove the Work from public display in STORRE and investigate your claim.