This paper investigates whether investors in an emerging economy setting value book value of equity, earnings and discretionary accruals differently for firms that have managed earnings relative to those who have not. Discretionary accruals are estimated using the conventional modified John's...

The study seeks to investigate the determinants of firm level earnings management (EM) within the context of 44 countries around the world. A sample of 29 430 non-financial companies over the period 1996-2012 were analysed using a series of models that link firm-, industry-, and country-specific...