會議論文
| 學年 | 98 |
|---|---|
| 學期 | 2 |
| 發表日期 | 2010-07-01 |
| 作品名稱 | Insider Trading, Earnings Management, and Corporate Governance in Emerging Markets - Evidence from Taiwan |
| 作品名稱（其他語言） | |
| 著者 | Tang, Hui-wen; Chen, Anlin; Chang, Chong-chuo |
| 作品所屬單位 | 淡江大學保險學系 |
| 出版者 | United Kingdom：University of Bristol |
| 會議名稱 | |
| 會議地點 | |
| 摘要 | In this paper, we examine the endogeous relation between abnormal insider trading and earnings management and explore whether good corporate governance could discipline opportunistic earnings management due to insiders trading. We find that managers would decrease (increase) reported earnings through managing discretionary current accruals (DCAs) before they intend to purchase (sell) more shares in subsequent periods. Meanwhile, our evidence also indicates that insiders would increase (decrease) their shareholding simply because they observed lower (high) DCAs in advance. In particular, we find that the deviation between managers’ control rights and cash flow rights would enlarge the impact of abnormal insider trading on the magnitude of earnings management, implying that firms faced with severe agency problems demand stronger corporate governance. With institutional investors and accounting firms as monitoring mechanisms, we show that corporate governance could alleviate earnings manipulation induced by insider trading. |
| 關鍵字 | Insider Trading; Earnings Management; Corporate Governance; Cash Flow Rights; Control Rights |
| 語言 | en_US |
| 收錄於 | |
| 會議性質 | 國際 |
| 校內研討會地點 | |
| 研討會時間 | 20100701~20100702 |
| 通訊作者 | |
| 國別 | |
| 公開徵稿 | |
| 出版型式 | |
| 出處 | Financial Reporting and Business Communication Fourteenth Annual Conference |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/75458 ) |