Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/187586 
Erscheinungsjahr: 
2013
Quellenangabe: 
[Journal:] China Journal of Accounting Research [ISSN:] 1755-3091 [Volume:] 6 [Issue:] 3 [Publisher:] Elsevier [Place:] Amsterdam [Year:] 2013 [Pages:] 187-209
Verlag: 
Elsevier, Amsterdam
Zusammenfassung: 
This paper investigates how information asymmetry and mutual fund ownership affect listed companies' earnings management. We show that (1) reducing information asymmetry improves firms' earnings management behavior; (2) relative to short-term mutual funds, long-term mutual funds promote earnings quality by adopting a monitoring role; and (3) by dividing firms into high/low information asymmetry groups, we find that the information environment significantly increases the effect of long-term mutual funds on firms' earnings management. In this paper, we provide new evidence for the role that institutional investors play in a typical emerging capital market. Our results have clear policy implications: to increase earnings quality, it is essential to improve information transparency and develop long-term institutional investors.
Schlagwörter: 
Information asymmetry
Mutual funds
Earnings management
JEL: 
G12
G14
G18
M41
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