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Earnings Manipulation, Pension Assumptions, and Managerial Investment Decisions

Citations

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Cited by:

  1. Giuliano Iannotta & Simon H. Kwan, 2022. "The Impact Of Reserves Practices On Bank Opacity," Journal of Financial Management, Markets and Institutions (JFMMI), World Scientific Publishing Co. Pte. Ltd., vol. 10(01), pages 1-26, June.
  2. Anantharaman, Divya & Chuk, Elizabeth & Kamath, Saipriya, 2024. "A demotion in disguise? The real effects of relocating pension smoothing from operating income to non-operating income," LSE Research Online Documents on Economics 124405, London School of Economics and Political Science, LSE Library.
  3. Denise A. Jones, 2013. "Changes in the Funded Status of Retirement Plans after the Adoption of SFAS No. 158: Economic Improvement or Balance Sheet Management," Contemporary Accounting Research, John Wiley & Sons, vol. 30(3), pages 1099-1132, September.
  4. Iqbal Owadally, 2014. "Tail risk in pension funds: an analysis using ARCH models and bilinear processes," Review of Quantitative Finance and Accounting, Springer, vol. 43(2), pages 301-331, August.
  5. Bauman, Mark P. & Shaw, Kenneth W., 2016. "Harmonizing pension accounting: Income statement effects of applying IAS19R to U.S. firms," Research in Accounting Regulation, Elsevier, vol. 28(1), pages 1-10.
  6. Kolasinski, Adam C. & Yang, Nan, 2018. "Managerial myopia and the mortgage meltdown," Journal of Financial Economics, Elsevier, vol. 128(3), pages 466-485.
  7. Joachim Inkmann & David Blake & Zhen Shi, 2017. "Managing Financially Distressed Pension Plans In The Interest Of Beneficiaries," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 84(2), pages 539-565, June.
  8. Takafumi Sasaki, 2017. "Pension accruals and share prices: evidence from the amortization costs of transition amounts," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 24(1-2), pages 216-231, April.
  9. William H. Janeway & Ramana Nanda & Matthew Rhodes-Kropf, 2021. "Venture Capital Booms and Start-Up Financing," Annual Review of Financial Economics, Annual Reviews, vol. 13(1), pages 111-127, November.
  10. Almond, Douglas & Xia, Xing, 2017. "Do nonprofits manipulate investment returns?," Economics Letters, Elsevier, vol. 155(C), pages 62-66.
  11. Yong-Chul Shin & Kun Yu & Neil Fargher, 2016. "Do investors misprice components of net periodic pension cost?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 56(3), pages 845-878, September.
  12. Brian Silverstein, 2021. "Defined benefit pension de‐risking and corporate risk‐taking," Financial Management, Financial Management Association International, vol. 50(4), pages 1085-1111, December.
  13. J. Adam Cobb, 2019. "Managing the Conflicting Interests of Workers and Shareholders: Evidence from Pension-Assumption Manipulations," ILR Review, Cornell University, ILR School, vol. 72(3), pages 523-551, May.
  14. F. Wang & Ting Zhang, 2014. "The effect of unfunded pension liabilities on corporate bond ratings, default risk, and recovery rate," Review of Quantitative Finance and Accounting, Springer, vol. 43(4), pages 781-802, November.
  15. Chi, Jianxin Daniel & Gupta, Manu & Johnson, Shane A., 2020. "Short-horizon incentives and stock price inflation," Journal of Corporate Finance, Elsevier, vol. 65(C).
  16. Bergstresser, Daniel & Philippon, Thomas, 2006. "CEO incentives and earnings management," Journal of Financial Economics, Elsevier, vol. 80(3), pages 511-529, June.
  17. Maximilian Konradt, 2023. "Do pension funds reach for yield? Evidence from a new database," IHEID Working Papers 01-2023, Economics Section, The Graduate Institute of International Studies.
  18. Michaelides, Alexander & Papakyriakou, Panayiotis & Milidonis, Andreas, 2019. "Corporate Pension Plan Funding Levels and Pension Assumptions," CEPR Discussion Papers 13591, C.E.P.R. Discussion Papers.
  19. Amanjot Singh & Harminder Singh, 2022. "Shareholder response to pension deficit: evidence from the COVID-19 pandemic," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 46(3), pages 566-574, July.
  20. Lianzan Xu & Francis Cai & Ge Zhang, 2022. "Hybrid Earnings Management in the Pre- and Post-SOX," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 12(1), pages 22-36.
  21. Cascino, Stefano, 2018. "Bridging financial reporting research and policy: a discussion of “the impact of accounting standards on pension investment decisions”," LSE Research Online Documents on Economics 90194, London School of Economics and Political Science, LSE Library.
  22. Igor Goncharov & Vasso Ioannidou & Martin C. Schmalz, 2020. "(Why) do central banks care about their profits?," ECONtribute Discussion Papers Series 018, University of Bonn and University of Cologne, Germany.
  23. Rauh, Joshua D. & Stefanescu, Irina & Zeldes, Stephen P., 2020. "Cost saving and the freezing of corporate pension plans," Journal of Public Economics, Elsevier, vol. 188(C).
  24. Abigail Allen & Reining C. Petacchi, 2023. "Preparer Opposition and Strategic Implementation of Governmental Accounting Standards: Evidence from Public Pension Accounting Reform," Management Science, INFORMS, vol. 69(7), pages 4259-4282, July.
  25. Jan Faβhauer & Martin Glaum, 2008. "Bewertungsrelevanz von Rechnungslegungsinformationen über betriebliche Altersversorgungssysteme deutscher Unternehmen," Schmalenbach Journal of Business Research, Springer, vol. 60(59), pages 72-113, January.
  26. Nandini Chandar & Hsihui Chang & Xiaochuan Zheng, 2012. "Does overlapping membership on audit and compensation committees improve a firm's financial reporting quality?," Review of Accounting and Finance, Emerald Group Publishing Limited, vol. 11(2), pages 141-165, May.
  27. Goto, Shingo & Yanase, Noriyoshi, 2021. "Pension return assumptions and shareholder-employee risk-shifting," Journal of Corporate Finance, Elsevier, vol. 70(C).
  28. Francesco Franzoni & José M. Marin, 2005. "Portable Alphas from Pension Mispricing," Working Papers 227, Barcelona School of Economics.
  29. Comprix, Joseph & Muller III, Karl A., 2011. "Pension plan accounting estimates and the freezing of defined benefit pension plans," Journal of Accounting and Economics, Elsevier, vol. 51(1-2), pages 115-133, February.
  30. Romaniuk, Katarzyna, 2019. "Premiums of the Pension Benefit Guarantee Corporation and risk-taking by pension plans," The Quarterly Review of Economics and Finance, Elsevier, vol. 74(C), pages 301-307.
  31. James P. Naughton, 2019. "Regulatory oversight and trade-offs in earnings management: evidence from pension accounting," Review of Accounting Studies, Springer, vol. 24(2), pages 456-490, June.
  32. Kazuo Yoshida & Yutaka Horiba, 2012. "Determinants of Defined-Contribution Japanese Corporate Pension Coverage," The Japanese Accounting Review, Research Institute for Economics & Business Administration, Kobe University, vol. 2, pages 33-47, December.
  33. Divya Anantharaman, 2017. "The role of specialists in financial reporting: Evidence from pension accounting," Review of Accounting Studies, Springer, vol. 22(3), pages 1261-1306, September.
  34. Alexander Dyck & Paulo Manoel & Adair Morse, 2022. "Outraged by Compensation: Implications for Public Pension Performance," The Review of Financial Studies, Society for Financial Studies, vol. 35(6), pages 2928-2980.
  35. Baker, Malcolm & Wurgler, Jeffrey, 2013. "Behavioral Corporate Finance: An Updated Survey," Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, volume 2, chapter 0, pages 357-424, Elsevier.
  36. Gerald J. Lobo & Michael Neel & Adrienne Rhodes, 2018. "Accounting comparability and relative performance evaluation in CEO compensation," Review of Accounting Studies, Springer, vol. 23(3), pages 1137-1176, September.
  37. Anantharaman, Divya & Chuk, Elizabeth & Kamath, Saipriya, 2021. "Location, location, location! Real effects from the mandated removal of pension expected return from operating income," LSE Research Online Documents on Economics 108931, London School of Economics and Political Science, LSE Library.
  38. Hsieh, Su-Jane & Liu, Shuming, 2021. "The cost-of-equity implications of off-balance sheet pension liabilities," Journal of Contemporary Accounting and Economics, Elsevier, vol. 17(1).
  39. Tim V. Eaton & John R. Nofsinger & Abhishek Varma, 2014. "Institutional Investor Ownership and Corporate Pension Transparency," Financial Management, Financial Management Association International, vol. 43(3), pages 603-630, September.
  40. Cocco, Joâo F. & Volpin, Paolo, 2005. "The Corporate Governance of Defined-Benefit Pension Plans: Evidence from the United Kingdom," CEPR Discussion Papers 4932, C.E.P.R. Discussion Papers.
  41. Bartram, Söhnke M., 2018. "In good times and in bad: Defined-benefit pensions and corporate financial policy," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 331-351.
  42. Cannon, James N. & Lamboy-Ruiz, Melvin A. & Watanabe, Olena V., 2022. "Ownership type and earnings management in U.S. hospitals," Advances in accounting, Elsevier, vol. 58(C).
  43. Kusano, Masaki, 2023. "Does recognition versus disclosure of pension liabilities affect credit ratings? Evidence from Japan," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 50(C).
  44. Robert Novy-Marx & Joshua D. Rauh, 2008. "The Intergenerational Transfer of Public Pension Promises," NBER Working Papers 14343, National Bureau of Economic Research, Inc.
  45. Goto, Shingo & Yanase, Noriyoshi, 2023. "Corporate governance and shareholder-employee risk-shifting: Evidence from corporate pension plan sponsors," Finance Research Letters, Elsevier, vol. 58(PA).
  46. William Grieser & Charles J. Hadlock & Joshua R. Pierce, 2021. "Doing good when doing well: evidence on real earnings management," Review of Accounting Studies, Springer, vol. 26(3), pages 906-932, September.
  47. Shaw, Kenneth W. & Whitworth, James D., 2022. "Client importance and unconditional conservatism in complex accounting estimates," Advances in accounting, Elsevier, vol. 58(C).
  48. Joshua Rauh & Irina Stefanescu & Stephen Zeldes, 2013. "Cost shifting and the freezing of corporate pension plans," Finance and Economics Discussion Series 2013-82, Board of Governors of the Federal Reserve System (U.S.).
  49. Xiaowen Jiang, 2011. "The smoothing of pension expenses: a panel analysis," Review of Quantitative Finance and Accounting, Springer, vol. 37(4), pages 451-476, November.
  50. Jia, Zhijie & Wen, Shiyan & Lin, Boqiang, 2024. "Would behaviors of state-owned enterprises impact the performance of downstream industries in China?," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 1007-1035.
  51. Tao, Qizhi & Chen, Carl & Lu, Rui & Zhang, Ting, 2017. "Underfunding or distress? An analysis of corporate pension underfunding and the cross-section of expected stock returns," International Review of Economics & Finance, Elsevier, vol. 48(C), pages 116-133.
  52. A. Szczesny & A. Lenk & T. Huang, 2008. "Substitution, availability and preferences in earnings management: empirical evidence from China," Review of Managerial Science, Springer, vol. 2(2), pages 129-160, July.
  53. Hutton, Amy P. & Marcus, Alan J. & Tehranian, Hassan, 2009. "Opaque financial reports, R2, and crash risk," Journal of Financial Economics, Elsevier, vol. 94(1), pages 67-86, October.
  54. Jun Cai & Yiyi Qin & Anxing Wang, 2018. "Earnings, Mergers And Acquisitions Under Pension Disclosure Standards," Advances in Decision Sciences, Asia University, Taiwan, vol. 22(1), pages 137-179, December.
  55. Cornett, Marcia Millon & Marcus, Alan J. & Tehranian, Hassan, 2008. "Corporate governance and pay-for-performance: The impact of earnings management," Journal of Financial Economics, Elsevier, vol. 87(2), pages 357-373, February.
  56. Igor Goncharov & Vasso Ioannidou & Martin C. Schmalz, 2017. "(Why) Do Central Banks Care About Their Profits?," CESifo Working Paper Series 6546, CESifo.
  57. Comprix, Joseph & Guo, Jun & Zhang, Yan & Zhou, Nan, 2017. "Setting expected rates of return on pension plan assets: New evidence on the influence of audit committee accounting experts," Research in Accounting Regulation, Elsevier, vol. 29(2), pages 159-166.
  58. Katarzyna Romaniuk, 2013. "Pension fund taxation and risk-taking: should we switch from the EET to the TEE regime?," Annals of Finance, Springer, vol. 9(4), pages 573-588, November.
  59. Fried, Abraham N. & Davis-Friday, Paquita Y., 2013. "Economic consequences of mandatory GAAP changes: The case of SFAS No. 158," Advances in accounting, Elsevier, vol. 29(2), pages 186-194.
  60. Chen, Yangyang & Ge, Rui & Zolotoy, Leon, 2017. "Do corporate pension plans affect audit pricing?," Journal of Contemporary Accounting and Economics, Elsevier, vol. 13(3), pages 322-337.
  61. Agrawal, Anup & Cooper, Tommy, 2015. "Insider trading before accounting scandals," Journal of Corporate Finance, Elsevier, vol. 34(C), pages 169-190.
  62. Rauh, Joshua D. & Stefanescu, Irina & Zeldes, Stephen P., 2020. "Cost saving and the freezing of corporate pension plans," Journal of Public Economics, Elsevier, vol. 188(C).
  63. Nakajima, Kan & Sasaki, Takafumi, 2010. "Unfunded pension liabilities and stock returns," Pacific-Basin Finance Journal, Elsevier, vol. 18(1), pages 47-63, January.
  64. Qin, Yiyi & Cai, Jun & Rhee, S. Ghon, 2021. "Do Japanese firms systematically inflate expected rate of returns from defined benefit pension plans?," Pacific-Basin Finance Journal, Elsevier, vol. 68(C).
  65. Jia, Zhijie, 2023. "The hidden benefit: Emission trading scheme and business performance of downstream enterprises," Energy Economics, Elsevier, vol. 117(C).
  66. Franzoni, Francesco, 2009. "Underinvestment vs. overinvestment: Evidence from price reactions to pension contributions," Journal of Financial Economics, Elsevier, vol. 92(3), pages 491-518, June.
  67. Takafumi Sasaki, 2015. "The Effects of Liquidity Shocks on Corporate Investments and Cash Holdings: Evidence from Actuarial Pension Gains/Losses," Financial Management, Financial Management Association International, vol. 44(3), pages 685-707, September.
  68. Hieu V. Phan & Shantaram P. Hegde, 2013. "Pension Contributions and Firm Performance: Evidence from Frozen Defined Benefit Plans," Financial Management, Financial Management Association International, vol. 42(2), pages 373-411, June.
  69. Comprix, Joseph & Muller, Karl A., 2011. "Pension plan accounting estimates and the freezing of defined benefit pension plans," Journal of Accounting and Economics, Elsevier, vol. 51(1), pages 115-133.
  70. Anantharaman, Divya & Lee, Yong Gyu, 2014. "Managerial risk taking incentives and corporate pension policy," Journal of Financial Economics, Elsevier, vol. 111(2), pages 328-351.
  71. Fahad, Nafiz & Ma, Nelson & Scott, Tom, 2020. "The consequences of discount rate selection for defined benefit liabilities," Journal of Contemporary Accounting and Economics, Elsevier, vol. 16(1).
  72. Masaki KUSANO, 2022. "Recognition versus Disclosure and Managerial Discretion: Evidence from Japanese Pension Accounting," Discussion papers e-22-008, Graduate School of Economics , Kyoto University.
  73. Martin Glaum & Tobias Keller & Donna L. Street, 2018. "Discretionary accounting choices: the case of IAS 19 pension accounting," Accounting and Business Research, Taylor & Francis Journals, vol. 48(2), pages 139-170, February.
  74. An, Heng & Huang, Zhaodan & Zhang, Ting, 2013. "What determines corporate pension fund risk-taking strategy?," Journal of Banking & Finance, Elsevier, vol. 37(2), pages 597-613.
  75. Blankley, Alan I. & Comprix, Joseph & Hong, Keejae P., 2013. "Earnings management and the allocation of net periodic pension costs to interim periods," Advances in accounting, Elsevier, vol. 29(1), pages 27-35.
  76. Doyle, Joanne M., 2017. "Persistence in the long-run expected rate of return for corporate pension plans," The Quarterly Review of Economics and Finance, Elsevier, vol. 63(C), pages 271-277.
  77. Takafumi Sasaki, 2017. "Pension accrual management and research and development investment," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 57(4), pages 1127-1147, December.
  78. Joshua Rauh, 2007. "Risk Shifting versus Risk Management: Investment Policy in Corporate Pension Plans," NBER Working Papers 13240, National Bureau of Economic Research, Inc.
  79. Jan Faßhauer & Martin Glaum & Tobias Keller & Donna L. Street, 2011. "Erfassungsmethoden für versicherungsmathematische Gewinne und Verluste nach IAS 19: Motive der Wahl-rechtsentscheidung europäischer Unternehmen," Schmalenbach Journal of Business Research, Springer, vol. 63(8), pages 774-809, December.
  80. Li, C. Wei & Yao, Tong & Ying, Jie, 2024. "Investment policies and risk sharing by corporate pensions," Journal of Economic Dynamics and Control, Elsevier, vol. 165(C).
  81. Nakabayashi, Masaki, 2019. "Ownership structure and market efficiency," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 61(C), pages 189-212.
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