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Earnings management, expected returns on pension assets, and resource allocation decisions

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Author Info
ASTHANA, SHARAD
Abstract

This paper empirically examines the role of expected rate of return on pension assets reported under SFAS 87 as a tool for meeting and beating earnings targets and its effect on firm value. Results suggest that managers may use this pension assumption to inflate earnings per share (eps) when they are going to miss the earnings expectations. The earnings inflation is directly related to the amount by which earnings will miss the target and to earning sensitivity to expected return on pension asset assumption. The results are robust to two different measures of earnings inflation and two of earnings expectations.

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File URL: http://journals.cambridge.org/abstract_S1474747207003174
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Publisher Info
Article provided by Cambridge University Press in its journal Journal of Pension Economics and Finance.

Volume (Year): 7 (2008)
Issue (Month): 02 (July)
Pages: 199-220
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:cup:jpenef:v:7:y:2008:i:02:p:199-220_00

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This page was last updated on 2009-12-22.

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