FINANCIAL REPORTING AND CONFLICTING MANAGERIAL INCENTIVES: THE CASE OF MANAGEMENT BUYOUTS
Fischer P, Louis H
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.You need to login to download this paper.
29 May 2013 by Jean-Noel Barrot, Winner of the 2012 Coller Prize for PhD
Abstract Investments exploring new ideas typically take more time to payo than investments exploiting existing ones. Hence, investors with a short horizon may be tilted towards the latter. I conside...More
24 November 2010 by Chung J-W
Winner of Coller Prize PhD category in 2010.More