Limited Market Participation and Asset Prices in the Presence of Earnings Management
نویسندگان
چکیده
منابع مشابه
Limited Market Participation and Asset Prices in the Presence of Earnings Management
We examine the role of earnings management in explaining the properties of asset prices and stock market participation. We demonstrate that investors’ uncertainty about the extent of manipulation can cause excess movements in stock price relative to fluctuations in output. When faced with information asymmetry about fundamentals in the presence of earnings management, investors demand a higher ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2011
ISSN: 1556-5068
DOI: 10.2139/ssrn.1893042