This paper analyses the impact of both, the ownership structure features and the institutional settings, on real-based activities manipulation based on a sample of listed companies in the underexplored Latin American market for the period of 2004–2016. Using panel data based-GMM system...

We study the link between measures of stock options' volatility and firms' real earnings management (RM). We hypothesize that RM causes uncertainty in the value of a firm's common stock and, as a result, increases the volatility spread and skew of the firm's options. Spread and skew proxy for...