000			02083nam a2200229 4500
999			_c52376 _d52376
003			OSt
005			20190807121606.0
008			190807b ||||| |||| 00| 0 eng d
100			_aKalgo, Sani Hussaini _934093
245			_aDoes Leverage Constrain Real and AEM Around IPO Corporate Event? Evidence from the Emerging Market
300			_a354-367 p.
520			_aThe article investigates whether Malaysian initial public offering (IPO) firms engage in real and accrual earnings management (AEM) and examines the impact of leverage on the earnings management’s discretionary behaviour of the firms for the period of 2003–2013. The Dechow, Sloan, and Sweeney (1995, The Accounting Review, 70[2], 193–225) cross-sectional modified Jones model was used to estimate discretionary accruals, while Roychowdhury’s (2006, Journal of Accounting and Economics, 42[3]), 335–370) cross-sectional models were used to investigate abnormal real activity discretionary behaviour. The results indicate Malaysian IPO firms engage in real and accrual discretionary behaviour. The graphical presentations of the earnings’ management proxies indicate higher real and AEM for high-leverage firms. Similarly, the multivariate analysis indicates a positive relationship between leverage and earnings management, which is in tandem with the agency cost of free cash flow theory and debt hypothesis. It is also consistent with the pecking-order theory of capital structure. This study suggests that regulatory agencies and standard setters should continue to improve quality of accounting reports in order to protect investors’ invested capital.
653			_aReal earnings management
653			_aAccrual earnings managemen
653			_a IPO _aCapital structure
653			_aEmerging market
700			_aA.N., Bany-Ariffin _96771
700			_aNahar, Hairul Suhaimi Bin _924182
700			_aMatemilola, Bolaji Tunde _934094
773	0		_029349 _974851 _aBANIK, ARINDAM _dNEW DELHI SAGE PUBLISHING PVT. LTD. _o55510427 _tGLOBAL BUSINESS REVIEW _x0972-1509
942			_2ddc _cJA-ARTICLE