Davis, Justin G.; García Cestona, Miguel Angel - In: Journal of Economics, Finance and Administrative Science 28 (2023) 56, pp. 218-236
and EM using a sample of 59,503 listed U.S. firm-year observations from 1981-2019. The authors proxy EM with earnings … surprises and with accrual-based and real activity measures. The authors test for nonlinear relations and analyze changes …