Effect of Investor Speculation on Earnings Management
研究投机者押注公司未来盈余报告时，管理层如何操纵报告，并分析投机者信息对盈余管理行为、盈余质量和股价效率的影响。
ABSTRACT This paper considers how the presence of a speculative investor, who bets on a firm's future earnings report, affects how the firm's management manipulates that report. We examine the influence of the speculator's information on earnings management behavior, quality of reported earnings, and stock price efficiency. We also provide predictions for, and interpretations of, short‐window event studies and long‐window association studies.