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讲座:Stakeholder Orientation and Earnings Management: Evi...

来源:上海交通大学安泰经济与管理学院 | 2018-03-13 | 发布:经管之家

会计系学术讲座

题目:Stakeholder Orientation and Earnings Management: Evidence from a Natural Experiment

讲座嘉宾:Hong Wu, Assistant Professor, School of Accounting and Finance, Hong Kong Polytechnic University

主持人:石桂峰 副教授,上海交通大学安泰经济与管理学院会计系

时间:2018年3月21日(周三)14:00—15:30
地点:上海交通大学 徐汇校区包图A303
内容摘要:
This paper examines the effect of stakeholder orientation on earnings management. Our tests exploit a staggered adoption of the constituency statutes by U.S. states as an exogenous increase in stakeholder orientation. We find that the adoption of the constituency statutes leads to a significant decrease in both accruals earnings management and long run income-increasing accounting choices. Our results are robust to subsample analyses excluding firms incorporated in Delaware, excluding early adoptions, and hold in both the pre- and post-SOX sample periods. We also provide evidence that the decreases in the use of accounting and stock performance in explicit and implicit incentive schemes are the economic mechanisms through which stakeholder orientation reduces earnings management. Collectively, our findings highlight the importance of incorporating stakeholder value in corporate governance.
嘉宾简介:
Dr. Hong Wu is currently Assistant Professor from the School of Accounting and Finance at Hong Kong Polytechnic University. He graduated from University of Pittsburgh with PhD in Economics in 2015. Prior to his graduate study, he obtained B.A. in International Economics and Trade from Shanghai Jiaotong University. His research interests include mergers and acquisitions, corporate finance and earnings management. He has published his papers in top journals such as Games and Economic Behavior and Journal of Banking and Finance.
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