Mutual funds' holdings and listed firms' earnings management: Evidence from China

被引：9
作者：
Chi, Jing [1 ]
Yang, Jingjing [2 ]
Young, Martin [1 ,3 ]
机构：
[1] Massey Univ, Sch Econ & Finance, Manawatu Campus,Private Bag 11 222, Palmerston North 4442, New Zealand
[2] Jiangxi Normal Univ, Int Ctr Financial Res, Nanchang 330022, Jiangxi, Peoples R China
[3] Xiamen Univ, Xiamen, Peoples R China
来源：
JOURNAL OF MULTINATIONAL FINANCIAL MANAGEMENT | 2014年 / 28卷
关键词：
Mutual funds; Earnings management; China;
D O I：
10.1016/j.mulfin.2014.10.002
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study examines the impact of long-term and short-term mutual funds' ownership on various types of earnings management in China. We find that both long-term and short-term funds' holdings can lead to reduced non-core income. However, longterm mutual funds' holdings have an insignificant impact on accrual items, while short-term funds' holdings encourage an increase in accruals. The positive influence of short-term funds' holdings on accruals is much stronger than their negative impact on non-core income. Finally, we find the impact of mutual funds' holdings on earnings management is much stronger in non-state-controlled listed firms than that in state-controlled ones. (C) 2014 Elsevier B.V. All rights reserved.
引用
收藏
页码：62 / 78
页数：17
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