Liu, Xiang - In: Review of Quantitative Finance and Accounting 43 (2014) 1, pp. 173-210
I study the relation between venture capitalists’ (VCs) presence and real activities manipulation (RM). I find that … do not inflate earnings when they exit the IPO firm but instead exercise a monitoring role to reduce the RM by other … monitoring rather than through the establishment of a governance structure. A partitioned sample analysis indicates that VCs …
