Real earnings management activities prior to bondissuance
- ECU Author/Contributor (non-ECU co-authors, if there are any, appear on document)
- Cristhian,Jory,Surendranath R.,Ngo,Thanh Mellado-Cid (Creator)
- Institution
- East Carolina University (ECU )
- Web Site: http://www.ecu.edu/lib/
Abstract: We examine real activities manipulation by firms prior to their debt issuances andhow such manipulation activities affect bond yield spreads. We find that bond-issuing firmsincrease their real activities manipulation in the five quarters leading to a bond issuance. Wedocument an inverse association between yield spread and pre-issue real activities manipula-tion, i.e., firms engaged in abnormally high levels of real activities manipulation are associatedwith subsequent lower cost of debt.
Additional Information
- Publication
- Other
- Language: English
- Date: 2017
| Title | Location & Link | Type of Relationship |
| Real earnings management activities prior to bondissuance | http://hdl.handle.net/10342/8259 | The described resource references, cites, or otherwise points to the related resource. |