Nagata, Kyoko; Hachiya, Toyohiko - In: Review of Pacific Basin Financial Markets and Policies … 10 (2007) 04, pp. 541-559
This study investigates whether the extent of earnings management has any impact on offer price in initial public offering (IPO). Using a sample of 581 JASDAQ IPO firms, we find that offer price reflects earnings management to some extent. Firms with conservative earnings management tend to have...
