摘要
This study examines a public policy issue: whether government officials engage in earnings management to collude with private investors in the privatization of state-owned enterprises (SOEs). We find that the managers of listed Chinese SOEs, who are de facto bureaucrats, employ income-decreasing earnings management to reduce the price of shares to be sold to private investors. We also find that more aggressive income-decreasing earnings management is associated with a lower CEO turnover rate in the year following the privatization. These findings highlight the need to consider the opportunism of government agents when accounting information is used in redistribution of state assets.
源语言 | 英语 |
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页(从-至) | 115-129 |
期刊 | Journal of Contemporary Accounting & Economics |
卷 | 10 |
期 | 2 |
DOI | |
出版状态 | 已出版 - 2011 |
Corresponding author email
jun.du@polyu.edu.hk关键词
- Earnings management
- Privatization
- Rent-seeking
- SOEs
成果物的来源
- ABDC-A