Earnings Management as a Factor for Underpricing Initial Public Offerings: Evidence from the Warsaw Stock Exchange

被引：3
|
作者：
Cieslik, Rafal [1 ]
机构：
[1] Univ Warsaw, Fac Management, Szturmowa 1-3, PL-02678 Warsaw, Poland
来源：
PROBLEMY ZARZADZANIA-MANAGEMENT ISSUES | 2016年 / 14卷 / 04期
关键词：
earnings quality; earnings management; accounting manipulations; accruals; IPO; underpricing;
D O I：
10.7172/1644-9584.63.7
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
The paper undertakes the assessment of the relationship between "earnings quality" and the underpricing effect in initial public offerings (IPO). The research encompasses data found in the financial statements of companies making their IPO on the Warsaw Stock Exchange over the years 2008-2011. The approach used to assess earnings quality was the measurement of abnormal accruals. The results of this research are consistent with other studies. They demonstrate that on the Polish capital market the "quality" of financial information is a significant factor behind the underpricing of shares in the IPO process.
引用
收藏
页码：103 / 112
页数：10
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