Kinnunen, Juha; Keloharju, Matti; Kasanen, Eero; … - In: Scandinavian Journal of Management 16 (2000) 2, pp. 209-228
This paper provides evidence that firms issuing new shares at higher discounts and hence with larger expected dividend increases, use their opportunities for earnings management in such a way that, by the year of a share issue, they report larger earnings in excess of current dividends than...
