Technical Report 経営者交代と利益調整による利益ベンチマーク達成

石田, 惣平  ,  蜂谷, 豊彦

2017-09 , Management Innovation Research Center, Graduate School of Commerce and Management, Hitotsubashi University
June 2017, Revised in September 2017
This study examines the relation between top executive turnover and benchmark beating through earnings management. We find that top executives can reduce the probability of their turnover by reporting positive or increasing earnings through earnings management. This study also analyzes the association between future firm performance and benchmark beating through earnings management. The results show that firms engaging in earnings management to meet earnings benchmark exhibit poor subsequent performance. These findings suggest that internal governance in Japanese frim are not effective, and top executives can enjoy private benefits from earnings management to beat earnings benchmark.

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