DEGEORGE, François; DING, Yuan; JEANJEAN, Thomas; … - HEC Paris (École des Hautes Études Commerciales) - 2005
We investigate the role of analyst following as a monitoring device reducing earnings management. We find strong evidence that analysts are more effective monitors in transparent environments than in opaque environments. In a sample of 51,401 observations for 10,866 non-financial firms in 26...