Can banks identify firms' real earnings management? Evidence from China

被引：10

作者：

Li Yuanhui ^{[1
]}

Nie Weiqian ^{[1
]}

Xiang Erwei ^{[2
]}

Djajadikerta, Hadrian Geri ^{[2
]}

机构：

[1] Beijing Jiaotong Univ, Sch Econ & Management, Beijing 100044, Peoples R China

[2] Edith Cowan Univ, Sch Business & Law, Joondalup, WA 6027, Australia

来源：

FINANCE RESEARCH LETTERS | 2018年 / 25卷

基金：

北京市自然科学基金; 中国国家自然科学基金;

关键词：

Real earnings management; Bank loans; State ownership; Marketization; ACTIVITIES MANIPULATION; DEBT; CORPORATIONS; OWNERSHIP; COST;

D O I：

10.1016/j.frl.2017.10.005

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper investigates the impact of real earnings management on bank lending decisions and the moderation effects of state ownership and marketization in China. We find (1) firms with higher real earnings management get more and lower-cost loans, which indicates that banks cannot identify firms' real earnings management; (2) state-owned enterprises (SOEs) with higher real earnings management obtain more loans, while non-SOEs with higher real earnings management are more likely to obtain low-cost loans; (3) firms in regions with lower degree of marketization are more likely to get more and low-cost loans via real earnings management.

引用

页码：23 / 29

页数：7

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