Beneish, Messod Daniel; Capkun, Vedran; Fridson, Martin S. - HEC Paris (École des Hautes Études Commerciales) - 2013
While it is generally maintained that earnings management can occur to inform as well as to mislead, evidence that earnings management informs has been scarce, and evidence that credibility increases with signal costliness inexistent. We provide evidence that firms use discretion over financial...
