Earnings Management, Negative Media Coverage and Performance Change an Empirical Evidence from GEM Listed Companies

Abstract

Abstract:

In order to explore the decreasing post-IPO performance of GEM-listed companies, we use of the companies listed in 2010-2012 and 2014 as example to analyze the dynamic relationship among earnings management, negative media coverage and company performance from the viewpoint of media. Research results show that the more earnings management of companies before IPO, the more decrease in performance after IPO; before IPO, the higher degree of earnings management, the more negative media coverage of the company; and the more negative media coverage before IPO, the more decrease in performance after IPO; furthermore, compared to companies located in lower legal environment level area, the influence of negative media coverage on the performance change is greater in higher legal environment level area. This study indicates that as an information intermediary, media has the function of information mining.

Key words: earnings management, negative media coverage, performance change

Li Ming, Zheng Yanqiu. Earnings Management, Negative Media Coverage and Performance Change an Empirical Evidence from GEM Listed Companies[J]. , 2018, 30(12): 212-225.

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