The Real Effects of Real Earnings Management: Evidence from Innovation
研究了企业通过削减研发支出进行真实盈余管理对创新的影响，发现这种削减导致专利数量减少、影响力下降和创新效率降低，揭示了盈余管理阻碍技术进步的成本。
Abstract We examine the consequences of real earnings management from an innovation perspective and investigate the patent output of firms likely to be managing earnings through altering their R&D expenditures. We find that R&D cuts related to earnings management lead to fewer patents, less influential patent output, and lower innovative efficiency compared to other R&D cuts. Our results thus suggest that real earnings management may obstruct firms’ technological progress and highlight the potential costs of managerial manipulation of R&D expenditures to alter reported earnings.