Artikel
Information asymmetry, mutual funds and earnings management: Evidence from China
This paper investigates how information asymmetry and mutual fund ownership affect listed companies' earnings management. We show that (1) reducing information asymmetry improves firms' earnings management behavior; (2) relative to short-term mutual funds, long-term mutual funds promote earnings quality by adopting a monitoring role; and (3) by dividing firms into high/low information asymmetry groups, we find that the information environment significantly increases the effect of long-term mutual funds on firms' earnings management. In this paper, we provide new evidence for the role that institutional investors play in a typical emerging capital market. Our results have clear policy implications: to increase earnings quality, it is essential to improve information transparency and develop long-term institutional investors.
- Language
-
Englisch
- Bibliographic citation
-
Journal: China Journal of Accounting Research ; ISSN: 1755-3091 ; Volume: 6 ; Year: 2013 ; Issue: 3 ; Pages: 187-209 ; Amsterdam: Elsevier
- Classification
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Management
Asset Pricing; Trading Volume; Bond Interest Rates
Information and Market Efficiency; Event Studies; Insider Trading
General Financial Markets: Government Policy and Regulation
Accounting
- Subject
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Information asymmetry
Mutual funds
Earnings management
- Event
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Geistige Schöpfung
- (who)
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Dai, Yunhao
Kong, Dongmin
Wang, Li
- Event
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Veröffentlichung
- (who)
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Elsevier
- (where)
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Amsterdam
- (when)
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2013
- DOI
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doi:10.1016/j.cjar.2013.03.001
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Dai, Yunhao
- Kong, Dongmin
- Wang, Li
- Elsevier
Time of origin
- 2013
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