Throughout their business life cycle, firms may experience financial distress. Successful emergence from such distress is important to their multiple stakeholders. Using a sample of publicly listed firms in China that emerged from Special Treatment (an indicator of delisting risk), we focus on...

Accounting regulations require firms to separately disclose the profits and losses fromdiscontinued operations. These discontinued operations are typically excluded from thedefinition of income used by investors, analysts, and other financial statement users. Barua, Lin,and Sbaraglia (2010) show...

We examine whether analysts’ engagement in earnings conference calls curbs real activities earnings management. We find that analysts are more likely to ask questions on discretionary expenses at conference calls of firms that are suspects of lowering discretionary expenses to meet or narrowly...