-IPO abnormal accrual reporting opportunistically increases IPO valuation but ultimately links to disappointing post-IPO performance … other firms? Our analyses suggest that IPO investors incorporate abnormal accrual information into IPO prices in situations …

We find that IPO firms engage in real and accrual earnings management during the IPO and that big-N audit firms … constrain discretionary expenses-based and accrual-based manipulations. The restriction of these forms of earnings management … leads IPO firms to resort to a higher level of sales-based manipulation. Our results show that both sales-based and accrual …