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Publications

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  • May 2010
  • Article

Elections and Discretionary Accruals: Evidence from 2004

By: Karthik Ramanna and Sugata Roychowdhury
We examine the accrual choices of outsourcing firms with links to U.S. congressional candidates during the 2004 elections, when corporate outsourcing was a major campaign issue. We find that politically connected firms with more extensive outsourcing activities have... View Details
Keywords: Political Economy; Accounting Information; Accruals Management; Campaign Contributions; Discretionary Accruals; Election Outcomes; Political Currency; Political Process; Social Issues; Political Elections; Job Cuts and Outsourcing; Motivation and Incentives; Earnings Management; Welfare; United States
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  • 1996
  • Article

Discussion of a Market-Based Evaluation of Discretionary Accrual Models

By: Paul M. Healy
Keywords: Markets; Finance
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  • 18 Jun 2009
  • Working Paper Summaries

Elections and Discretionary Accruals: Evidence from 2004

Keywords: by Karthik Ramanna & Sugata Roychowdhury
  • 2017
  • Working Paper

Economic Uncertainty and Earnings Management

By: Luke C.D. Stein and Charles C.Y. Wang
In the presence of managerial short-termism and asymmetric information about skill and effort provision, firms may opportunistically shift earnings from uncertain to more certain times. We document empirically that when financial markets are less certain about a firm's... View Details
Keywords: Discretionary Accruals; Uncertainty; Implied Volatility; Earnings Response Coefficient; Risk and Uncertainty; Earnings Management; Financial Markets
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  • 2018
  • Article

The Role of Overbilling in Hospitals' Earnings Management Decisions

By: Jonas Heese
This paper examines the role of overbilling in hospitals’ earnings management choices. Overbilling by hospitals is a form of revenue manipulation that involves misclassifying a patient into a diagnosis-related group that yields higher reimbursement. As overbilling... View Details
Keywords: Overbilling; Accrual-based Earnings Management; Real Activities Manipulation; For-profit Hospitals; Earnings Management; Health Industry
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  • November 2023
  • Article

When Executives Pledge Integrity: The Effect of the Accountant's Oath on Firms' Financial Reporting

By: Jonas Heese, Gerardo Pérez Cavazos and Caspar David Peter
We study the effect of executives’ pledges of integrity on firms’ financial reporting outcomes by exploiting a 2016 regulation that requires holders of Dutch professional accounting degrees to pledge an integrity oath. We identify chief executive officers (CEOs) and... View Details
Keywords: Integrity; Financial Reporting; Accounting; Earnings Management
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  • 07 Feb 2012
  • Working Paper Summaries

Earnings Management from the Bottom Up: An Analysis of Managerial Incentives Below the CEO

Keywords: by Felix Oberholzer-Gee & Julie Wulf
  • 03 Oct 2017
  • First Look

First Look at Research and Ideas, October 3, 2017

hospitals’ use of managing accruals or cutting discretionary expenditures. Next, I find that hospital managers prefer overbilling to managing accruals (cutting View Details
Keywords: by Sean Silverthorne
  • 12 May 2008
  • Research & Ideas

Accounting Information as Political Currency

the economic circumstances of the firm (e.g., its growth in sales). Accounting researchers have built models to estimate "discretionary" accruals, which are accruals not predictable by recent economic changes in the firm. These... View Details
Keywords: by Martha Lagace
  • 05 Apr 2016
  • First Look

April 5, 2016

earnings from uncertain to more certain times. We document that firms report more negative discretionary accruals when financial markets are less certain about their future prospects. Stock-price responses... View Details
Keywords: Sean Silverthlorne
  • 02 Feb 2010
  • First Look

First Look: Feb. 2

confirm our results that states with commodities that had higher price increases had lower risk premia. Download the paper: http://www.hbs.edu/research/pdf/10-027.pdf Elections and Discretionary Accruals: Evidence from 2004... View Details
Keywords: Martha Lagace
  • 31 Mar 2009
  • First Look

First Look: March 31, 2009

the "opportunistic behavior" hypothesis, private equity firms have higher quality accruals and a lower propensity to manage income than public equity firms. We further find that public equity firms report more conservatively, in... View Details
Keywords: Martha Lagace
  • 06 Sep 2016
  • First Look

September 6, 2016

document that firms report more negative discretionary accruals when financial markets are less certain about their future prospects. Stock-price responses to earnings surprises are moderated when firm-level... View Details
Keywords: Carmen Nobel
  • 22 Mar 2016
  • First Look

March 22, 2016

Download working paper: https://www.hbs.edu/faculty/Pages/item.aspx?num=50237 Economic Uncertainty and Earnings Management By: Stein, Luke C.D., and Charles C.Y. Wang Abstract—We document that firms report more negative discretionary View Details
Keywords: Sean Silverthorne
  • 02 Aug 2016
  • First Look

August 2, 2016

Charles C.Y. Wang Abstract—In the presence of managerial short-termism and asymmetric information about skill and effort provision, firms may opportunistically shift earnings from uncertain to more certain times. We document that firms report more negative View Details
Keywords: Sean Silverthorne
  • 28 Aug 2012
  • First Look

First Look: August 28

find that our measure of short-termism is associated with various proxies for accruals and real earnings management, suggesting that our proxy captures not just different disclosure strategies, but also different managerial styles. Next,... View Details
Keywords: Sean Silverthorne