This study examines the earnings management behaviour of 455 distressed US firms that filed for bankruptcy during the … period 1986-2001. We examine (a) possible earnings management during the years prior to bankruptc-filing, (b) whether … qualified audit opinions cause conservative earnings management behaviour, (c) whether earnings management differs between firms …

We develop a directional trading model and a crisis management model to measure fund manager skills more adequately. We … test the robustness of both traditional market timing models and new management skill models to changes in their underlying … test 131 US mutual funds for management skills over the past 24 years. Firstly, we find argumentative evidence that fund …