When real investment opportunities are open to competing firms in the same line of business, strategic considerations become extremely important in determining investment/entry policies. We develop an equilibrium framework for strategic (real) option exercise where the focus is on the effect of...

In this paper, we examine whether findings on downward accrual-based earnings management for firms publicly ‘seeking a buyer’ from the US can be extrapolated outside of the US context, given that past research has indicated that the function of the Merger and Acquisition (M&A) markets is...