Accruals Management to Achieve Earnings Benchmarks: A Comparison of Pre‐managed Profit and Loss Firms
比较了在预管理盈利低于基准时，预管理盈利公司与亏损公司通过应计项目调整达到或超过盈利基准的可能性差异，发现盈利公司更可能实现基准。
Abstract: This study examines whether firms with profits before accruals management are more likely than firms with losses before accruals management to meet or exceed earnings benchmarks when pre‐managed earnings are below those benchmarks. We extend Brown (2001) by documenting that the differential propensity to achieve earnings benchmarks by profitable and nonprofitable firms results from differential accruals management behavior. We find that firms with profits before accruals management are more likely than firms with losses before accruals management to have pre‐managed earnings below both analysts' forecasts and prior period earnings and reported earnings above these benchmarks.