Hunsader, Kenneth J.; Pennywell, Gwendolyn - In: Review of Accounting and Finance 10 (2011) November, pp. 368-384
Purpose – Conventional wisdom implies that firms manage earnings to maximize the wealth of the manager, the value of the firm and/or the amount of information in the market. The purpose of this paper is to offer an additional explanation. Design/methodology/approach – Using companies from...