Can earnings manipulation create value?

Preprint OPEN
Anton Miglo;
  • Subject: Earnings manipulation, intertemporal substitution, design of securities, property rights, moral hazard.
    • jel: jel:G32 | jel:D82 | jel:D92

Existing literature usually considers earnings manipulation to be a negative social phenomenon. We argue that earnings manipulation can be a part of the equilibrium relationships between firm's insiders and outsiders. We consider an optimal contract between an entrepren... View more
  • References (16)
    16 references, page 1 of 2

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