文章基本信息

标题：Shareholders’ Pay-Out–Related Thresholds and Earnings Management
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作者：Jernej Koren ; Aljoša Valentinčič
期刊名称：Economic and Business Review
印刷版ISSN：1580-0466
出版年度：2013
卷号：15
期号：2
页码：151-173
语种：English
出版社：University of Ljubljana
摘要：We investigate the thresholds in net shareholder pay-outs (dividends, share buy-backs and issuances) of a large sample of UK quoted firms. Discretionary accruals are analysed at these thresholds in relation to earnings management. By examining distributions and using a robust test for discontinuities, we show the existence of thresholds at zero bins of variables in question. Additionally, by looking at differences in means and medians of discretionary accruals in sorted distributions, we find that they are statistically different from bin to bin in vicinity of previously identified thresholds.