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Contribution Details

Type Master's Thesis
Scope Discipline-based scholarship
Title Earnings management and earnings response of Swiss companies
Organization Unit
Authors
  • Ni An
Supervisors
  • Alexander Wagner
Language
  • English
Institution University of Zurich
Faculty Faculty of Business, Economics and Informatics
Number of Pages 43
Date 2017
Abstract Text In a recent paper, Eugster and Wagner (2017) find that US companies engaging in less earnings management receive more trust towards their earnings announcements. This thesis applies a similar empirical framework to the Swiss corporations and analyses the results. We find that the Swiss market reacts less sensitively towards earnings surprises than its US counterpart and that the previous earnings management practices (EM, quantified as FRQMean) show little influence upon the market behavior. However, the market is able to assess the current FRQMean and act accordingly. These findings suggest that the market perceives EM rather independently from the trustworthiness of companies.
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