London Business School Coller Institute of Private Equity

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FINANCIAL REPORTING AND CONFLICTING MANAGERIAL INCENTIVES: THE CASE OF MANAGEMENT BUYOUTS

Financial reporting and conflicting managerial incentives: The case of management buyouts

By Fischer P, Louis H
Working Papers

Date Released: 19/07/2010
PDF Document

We analyze the effect of external financing concerns on managers’ financial reporting behavior prior to management buyouts (MBOs). Prior studies hypothesize that managers intending to undertake an MBO have an incentive to manage earnings downward to reduce the purchase price.

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