Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/206366 
Year of Publication: 
2017
Citation: 
[Journal:] BRQ Business Research Quarterly [ISSN:] 2340-9436 [Volume:] 20 [Issue:] 3 [Publisher:] Elsevier España [Place:] Barcelona [Year:] 2017 [Pages:] 164-177
Publisher: 
Elsevier España, Barcelona
Abstract: 
We examine real activities manipulation by firms prior to their debt issuances and how such manipulation activities affect bond yield spreads. We find that bond-issuing firms increase their real activities manipulation in the five quarters leading to a bond issuance. We document an inverse association between yield spread and pre-issue real activities manipulation, i.e., firms engaged in abnormally high levels of real activities manipulation are associated with subsequent lower cost of debt."
Subjects: 
Real activities manipulation
Debt issues
Earnings management
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.