Technical Report 経営者交代と利益調整による損失回避

石田, 惣平  ,  蜂谷, 豊彦

2017-06 , Management Innovation Research Center, Graduate School of Commerce and Management, Hitotsubashi University
This study examines the relation between top executive turnover and loss avoidance through earnings management. The main findings are as follows: first, the likelihood of forced top executive turnover is positively related to negative earnings; second, top executives can reduce the probability of their forced turnover by managing earnings to avoid loss; and third, in the likelihood that top executives remain in power, there is no statistically significant difference between positive earnings with and without earnings management. This study also analyzes the association between loss avoidance through earnings management and future firm performance. The results indicate that top executives engaging in earnings management to avoid loss exhibit poor subsequent performance.

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