Real earnings management activities prior to bondissuance

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dc.contributor.authorMellado-Cid, Cristhian
dc.contributor.authorJory, Surendranath R.
dc.contributor.authorNgo, Thanh
dc.date.accessioned2020-04-21T17:23:21Z
dc.date.available2020-04-21T17:23:21Z
dc.date.issued2017-06-01
dc.description.abstractWe 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.en_US
dc.identifier.doi10.1016/j.brq.2017.04.004
dc.identifier.urihttp://hdl.handle.net/10342/8259
dc.titleReal earnings management activities prior to bondissuanceen_US
dc.typeArticleen_US
ecu.journal.issue3en_US
ecu.journal.nameBRQ Business Research Quarterlyen_US
ecu.journal.pages164-177en_US
ecu.journal.volume20en_US

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