The Timing of Asset Sales: Evidence of Earnings Management?
利用新加坡上市公司样本，检验企业是否通过选择资产出售时机来平滑利润，为管理者在每股收益下降时用资产出售提升利润提供了实证证据。
This paper presents empirical evidence from a sample of publicly traded Singaporean firms on the question: to what extent do firms manage earnings through the timing of asset sales? Previous studies have focused on accounting motives behind asset sales, ignoring the need to also consider economic motives. Some empirical evidence is provided to support the hypothesis that managers of firms with decreasing net earnings–per–share smooth earnings upwards using asset sales.