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- Causes and Consequences of Earnings Manipulation: An Analysis of Firms Subject to Enforcement Actions by the SEC
- This study investigates firms subject to accounting enforcement actions by the Securities and Exchange Commission SEC for alleged violations of GAAP. We investigate: i the extent to which the alleged earnings manipulations can be explained by extant earnings management hypotheses; ii the relation between the earnings manipulations and weaknesses in...
- Case studies 2003-01-01
Additional Resources
- Earnings Quality and Stock Returns
- An exclusive focus on bottom-line income misses important information about the quality of earnings. Accruals the difference between accounting earnings and cash flow are reliably, negatively associated with future stock returns. Earnings increases that are accompanied by high accruals, suggesting low-quality earnings, are associated with poor future returns. This paper...
- White papers 2004-02-01
- Earnings Manipulation and Managerial Investment Decisions: Evidence From Sponsored Pension Plans
- Managers appear to manipulate firm earnings when they characterize pension assets to capital markets and alter investment decisions to justify, and capitalize on, these manipulations. This report constructs a measure of the sensitivity of reported earnings to the assumed long-term rate of return on pension assets. Managers are more aggressive...
- White papers 2004-06-01
- Bristol-Myers Squibb fined 150 million for earnings manipulation
- US-company-ethics-pharma WASHINGTON AFP ? Pharmaceutical giant Bristol-Myers Squibb agreed to pay 150 million dollars in fines to settle charges of a "fraudulent earnings management scheme" that deceived investors. The Securities and Exchange Commission said the scheme improperly recognized about 1.5 billion dollars in sales, among other charges,...
- Research articles 2004-08-04
- Cash Is King: Accrual Earnings Stock Screen
- Mark Barath submits: In the early part of this decade we learned, ironically enough, earnings don’t represent real money. When a company says it earned a dollar per share last quarter, it doesn’t always mean it has that dollar to spend on dividends, share repurchases, debt repayment, or re-invest in...
- External links 2008-08-19
- Revenue Manipulation and Restatements by Loss Firms
- This paper investigates the relation between the extent of the firm's past and expected future losses and the ex ante probability that it will manipulate revenues. When a firm has a string of losses and/or negative cash flows, traditional valuation models do not yield reliable estimates of firm value, and...
- White papers 2004-11-01
- Motorola Restates Third Quarter Figures
- Motorola Inc has become the latest victim of the Securities and Exchange Commission's anti-earnings manipulation crusade. Late on Tuesday, the Schaumburg, Illinois company said it would restate its third quarter figures to accommodate a $99m reduction in what was originally a $117m charge for in-process research and development on the...
- Research articles 1998-11-12
- Does Competition Destroy Ethical Behavior?
- This paper shows that conduct described as unethical and blamed on "Greed" is sometimes a consequence of market competition. The author illustrates this observation using examples of five censured activities: employment of children, corruption, excessive executive pay, corporate earnings manipulation, and involvement of universities in commercial activities. In all these...
- White papers 2006-03-31
- Rock-Tenn Co. F4Q08 (Qtr End 09/30/08) Earnings Call Transcript
- Question-and-Answer SessionOperator Thank you. Operator Instructions. First question does come from Claudia Hueston of JPMorgan. You may ask your question. Claudia Hueston - JPMorgan I was hoping you could provide just a little more detail on what you're seeing in the corrugated box business. Obviously, it sounds like your...
- Earnings calls 2008-11-04
- Take on the Street: What Wall Street and Corporate America Don't Want You to Know
- BOOK Review TAKE ON THE STREET WHAT WALL STREET AND CORPORATE AMERICA DON'T WANT YOU TO KNOW By Arthur Levitt Pantheon Books, 2002, $24.95, ISBN. 0375421785 The details of recent corporate wrongdoing, earnings manipulation, and audit failures are well known. What famous former SEC Chairman Arthur...
- Research articles 2002-12-01
- Encore Wire Q1 2009 Earnings Call Transcript
- Question-and-Answer SessionOperator Operator Instructions First up is Michael Coleman with Sterne, Agee. Please go ahead. Michael Coleman - Sterne, Agee & Leach Good morning. Daniel Jones Hey Michael. Michael Coleman - Sterne, Agee & Leach Daniel, normally you get a seasonal lift in volumes from your first quarter to...
- Earnings calls 2009-04-24
- XTO Energy Inc. Q2 2009 Earnings Call Transcript
- Question-and-Answer SessionOperator Operator Instructions Our first question comes from David Heikkinen – Tudor Pickering & Holt. David Heikkinen – Tudor Pickering & Holt Bob, just as you think about guidance including curtailments, how much of that is really voluntary and how much of that is just pipeline pressures...
- Earnings calls 2009-08-05
- How Pharma Stacks the Deck with Medical Journals
- How Pharma Stacks the Deck with Medical JournalsStatistical GymnasticsPublished on www.brainblogger.com:A Failed Attempt to Improve Misperceived Greatness: The ENHANCE TrialWhile it seems that pharmaceutical company sponsors of clinical trials usually end up with results that clearly favor their meds studied in their trial, there are rare exceptions, and Merck...
- Discussion threads 2008-06-18
- Is Merck Hanging Schering Out to Dry on Vytorin?
- Is Merck Hanging Schering Out to Dry on Vytorin?VytorinPublished on www.brainblogger.com:A Failed Attempt to Improve Misperceived Greatness: The ENHANCE TrialWhile it seems that pharmaceutical company sponsors of clinical trials usually end up with results that clearly favor their meds studied in their trial, there are rare exceptions, and Merck...
- Discussion threads 2008-07-07
- Schering-Plough Now in the Feds' Crosshairs
- Schering-Plough Now in the Feds' CrosshairsThe Great Disappointment of EthicsPublished on www.brainblogger.com:A Failed Attempt to Improve Misperceived Greatness: The ENHANCE TrialWhile it seems that pharmaceutical company sponsors of clinical trials usually end up with results that clearly favor their meds studied in their trial, there are rare exceptions, and...
- Discussion threads 2008-07-10
- Report Pursuant To Section 704 Of The Sarbanes-Oxley Act Of 2002
- "Section 704 of the Sarbanes-Oxley Act directs the Commission to study enforcement actions over the five years preceding its enactment in order to identify areas of issuer financial reporting that are most susceptible to fraud, inappropriate manipulation, or inappropriate earnings management (the "Study"). In addition, Section 704 directs the Commission...
- White papers 2003-01-01
- Market bounces back.
- ABIX via COMTEX) -- The S&P/ASX 200 increased by 33.5 points to 3,212.9 on 27 June 2002. The All Ordinaries Index simultaneously added 31.2 points to reach 3,160.9. The rises are believed to have been influenced by the Dow Jones Industrial Average, which closed 6.71 points ...
- Research articles 2002-06-27
- Real Estate: Apocalypse Now
- Courtesy of The New York Times What has caused the great industrial conglomerate of General Electric GE to be trading at a single digit today? It is because of their stupid decision to get into financial services by establishing and using GE Capital to manipulate their earnings. So much...
- External links 2009-02-21
- Corrigan lashes Toll accounts.
- Byline: Philip Hopkins Oct 18, 2005 (The Age - ABIX via COMTEX) -- Toll Holdings, which has made a $A4.6 billion takeover offer for Patrick Corporation, has been accused of...
- Research articles 2005-10-18
- Texscan sales stronger, but profits weak. (Texscan Corp.)
- Texscan Sales Stronger, But Profits Weak EL PASO, Texas - Texscan Corp. closed out a roller coaster year with a slight decline in fourth-quarter sales but a steep drop in earnings. With full-year net income barely...
- Research articles 1991-07-15
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