第一百八十六期财务与会计学术论坛

信息来源: 发布时间:2014年10月11日

题目:Accounting Accruals and Short Selling

时间:2013年12月13日(周五)15:00-16:30

地点:嘉庚二号楼501教室

报告人:Tony Kang, Arthur Andersen & Co. Alumni Centennial Professor of Accounting, Oklahoma State University

主持人:Tony Ruan, assistant professor of finance, IFAS

论文摘要:

We find that the positive association between short interest and total accruals is attributable to discretionary accruals. We do not find that short interest is positively related to non-discretionary accruals. Further, our results are stronger for firms that meet or narrowly beat earnings threshold using discretionary accruals. For highly shorted stocks, we document a significant abnormal return differential between high and low accrual stocks when ranked by total and discretionary accruals but not non-discretionary accruals. We provide large scale cross-sectional evidence that short sellers play a useful role in uncovering opportunistic earnings management.

报告人简介:
Dr. Kang got his Ph.D. in Accounting, M.B.A. in Management, and B.B.A. in International Business and Trade from University of Illinois at Urbana-Champaign, McGill University, and Korea University respectively. His research interest is Accounting Issues in Global Capital Markets. He’s published papers in journals like The Accounting Review. Furthermore, he won awards such as Lee Radebaugh Notable Contribution to International Accounting Research Award from American Accounting Association.