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Earnings management and long-run stock performance following private equity placements

Author

Listed:
  • De-Wai Chou

    ()

  • Michael Gombola

    ()

  • Feng-Ying Liu

    ()

Abstract

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Suggested Citation

  • De-Wai Chou & Michael Gombola & Feng-Ying Liu, 2010. "Earnings management and long-run stock performance following private equity placements," Review of Quantitative Finance and Accounting, Springer, vol. 34(2), pages 225-245, February.
  • Handle: RePEc:kap:rqfnac:v:34:y:2010:i:2:p:225-245
    DOI: 10.1007/s11156-009-0129-8
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    File URL: http://hdl.handle.net/10.1007/s11156-009-0129-8
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    References listed on IDEAS

    as
    1. Fama, Eugene F & French, Kenneth R, 1992. " The Cross-Section of Expected Stock Returns," Journal of Finance, American Finance Association, vol. 47(2), pages 427-465, June.
    2. Mola, Simona & Loughran, Tim, 2004. "Discounting and Clustering in Seasoned Equity Offering Prices," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 39(01), pages 1-23, March.
    3. Carhart, Mark M, 1997. " On Persistence in Mutual Fund Performance," Journal of Finance, American Finance Association, vol. 52(1), pages 57-82, March.
    4. repec:bla:joares:v:29:y:1991:i:2:p:193-228 is not listed on IDEAS
    5. Hertzel, Michael G & Smith, Richard L, 1993. " Market Discounts and Shareholder Gains for Placing Equity Privately," Journal of Finance, American Finance Association, vol. 48(2), pages 459-485, June.
    6. Chou, De-Wai & Gombola, Michael & Liu, Feng-Ying, 2006. "Earnings Management and Stock Performance of Reverse Leveraged Buyouts," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 41(02), pages 407-438, June.
    7. Wruck, Karen Hopper, 1989. "Equity ownership concentration and firm value : Evidence from private equity financings," Journal of Financial Economics, Elsevier, vol. 23(1), pages 3-28, June.
    8. Fama, Eugene F. & French, Kenneth R., 1993. "Common risk factors in the returns on stocks and bonds," Journal of Financial Economics, Elsevier, vol. 33(1), pages 3-56, February.
    9. Teoh, Siew Hong & Welch, Ivo & Wong, T. J., 1998. "Earnings management and the underperformance of seasoned equity offerings," Journal of Financial Economics, Elsevier, vol. 50(1), pages 63-99, October.
    10. Fama, Eugene F & MacBeth, James D, 1973. "Risk, Return, and Equilibrium: Empirical Tests," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 607-636, May-June.
    11. Ritter, Jay R, 1991. " The Long-run Performance of Initial Public Offerings," Journal of Finance, American Finance Association, vol. 46(1), pages 3-27, March.
    12. Rangan, Srinivasan, 1998. "Earnings management and the performance of seasoned equity offerings," Journal of Financial Economics, Elsevier, vol. 50(1), pages 101-122, October.
    13. Perry, Susan E. & Williams, Thomas H., 1994. "Earnings management preceding management buyout offers," Journal of Accounting and Economics, Elsevier, vol. 18(2), pages 157-179, September.
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    Cited by:

    1. Tomás Lopes Ilídio, 2014. "The information compliance indexes: The illustrative case of income taxes," Contaduría y Administración, Accounting and Management, vol. 59(4), pages 11-37, octubre-d.
    2. Sabri Boubaker & Dimitrios Gounopoulos & Antonios Kallias & Konstantinos Kallias, 2017. "Management earnings forecasts and IPO performance: evidence of a regime change," Review of Quantitative Finance and Accounting, Springer, vol. 48(4), pages 1083-1121, May.

    More about this item

    Keywords

    Earnings management; Private equity issues; Long-run performance; G32;

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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