This paper studies the manipulation of the profits reported by non-listed Colombian companies. First, we examine whether the distribution of profits shows a discontinuity around zero earnings, an empirical fact evident in other countries. Second, we investigate whether this discontinuity results...

Over the years now, the Indian Aviation has seen lot of difficulties and recently the players in aviation are started working towards competing with global players in the industry in terms of quality of service and making the balance sheet look stronger. All this enthusiasm boiled down due to...

Airtravel has become the most considered mode of transportation being preferred by people today owing to the convenience, comfort, reduced time of travel, and cheaper air fares. The facilities available with the airports have become a matter of concern for the air travellers. In the present...

The purpose of this study is to examine whether merged banks are engaged in earnings management just prior to the merger. I use the Modified Jones model for the empirical tests. Other studies have used the Modified Jones model on multi-industry manufacturing samples. Two other studies (Key 1997;...

Companies are sometimes accused of misleading the market. The SEC can punish this with enforcement actions. Alternatively, shareholders can seek redress through a shareholder class action (SCA). While some literature has examined SEC actions, it has not examined SCAs, and has not examined...