Analyst coverage, earnings management and financial development: An international study

Abstract : Using data from 21 countries, this paper analyzes the relation among analyst coverage, earnings management and financial development in an international context. We document that the effectiveness of financial analysts as monitors increases with a country's financial development (FD). We find that in high-FD countries, increased within-firm analyst coverage results in less earnings management. Such is not the case in low-FD countries. Our results are economically significant and robust to reverse causality checks. Our findings illustrate one mechanism through which financial development mitigates the cost of monitoring firms and curbs earnings management.
Type de document :
Article dans une revue
Journal of Accounting and Public Policy, Elsevier, 2012, pp.NC. 〈10.1016/j.jaccpubpol.2012.10.003〉
Liste complète des métadonnées

https://hal-hec.archives-ouvertes.fr/hal-00765628
Contributeur : Amaury Bouvet <>
Soumis le : samedi 15 décembre 2012 - 14:31:07
Dernière modification le : lundi 12 février 2018 - 15:36:01

Identifiants

Collections

Citation

Hervé Stolowy, Yuan Ding, Thomas Jeanjean, François Degeorge. Analyst coverage, earnings management and financial development: An international study. Journal of Accounting and Public Policy, Elsevier, 2012, pp.NC. 〈10.1016/j.jaccpubpol.2012.10.003〉. 〈hal-00765628〉

Partager

Métriques

Consultations de la notice

314