Marquardt, Carol A.; Wiedman, Christine I. - In: Journal of Business Finance & Accounting 31 (2004-04) 3-4, pp. 297-332
This study investigates whether opportunistic earnings management affects the value relevance of net income and book value in determining stock price. We document a decrease in the value relevance of earnings in the year of an equity offering for a group of firms with ex post evidence of...