Abstract
Manipulation of earnings by publicly traded firms is a well-known phenomenon and the subject of considerable attention in both academic and trade circles. Despite widespread attention to this topic in financial literature, it has received scant attention in the restaurant industry. This research assesses whether earnings manipulation in the publicly traded restaurant firms are being rewarded by the capital markets. We have an a priori expectation that firms that do not manipulate earnings will have higher returns. However, our results indicate a significant and positive relationship between earnings manipulation indicators and stock price increases.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 124-137 |
| Number of pages | 14 |
| Journal | Journal of Foodservice Business Research |
| Volume | 11 |
| Issue number | 2 |
| DOIs | |
| State | Published - Jun 13 2008 |
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All Science Journal Classification (ASJC) codes
- Food Science
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Impact of earnings manipulation on valuation of publicly traded restaurant firms in the United States. / Upneja, Arun; Dalbor, Michael C.; Lee, Seoki; Mao, Zhenxing.
In: Journal of Foodservice Business Research, Vol. 11, No. 2, 13.06.2008, p. 124-137.Research output: Contribution to journal › Article
TY - JOUR
T1 - Impact of earnings manipulation on valuation of publicly traded restaurant firms in the United States
AU - Upneja, Arun
AU - Dalbor, Michael C.
AU - Lee, Seoki
AU - Mao, Zhenxing
PY - 2008/6/13
Y1 - 2008/6/13
N2 - Manipulation of earnings by publicly traded firms is a well-known phenomenon and the subject of considerable attention in both academic and trade circles. Despite widespread attention to this topic in financial literature, it has received scant attention in the restaurant industry. This research assesses whether earnings manipulation in the publicly traded restaurant firms are being rewarded by the capital markets. We have an a priori expectation that firms that do not manipulate earnings will have higher returns. However, our results indicate a significant and positive relationship between earnings manipulation indicators and stock price increases.
AB - Manipulation of earnings by publicly traded firms is a well-known phenomenon and the subject of considerable attention in both academic and trade circles. Despite widespread attention to this topic in financial literature, it has received scant attention in the restaurant industry. This research assesses whether earnings manipulation in the publicly traded restaurant firms are being rewarded by the capital markets. We have an a priori expectation that firms that do not manipulate earnings will have higher returns. However, our results indicate a significant and positive relationship between earnings manipulation indicators and stock price increases.
UR - http://www.scopus.com/inward/record.url?scp=67650097348&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=67650097348&partnerID=8YFLogxK
U2 - 10.1080/15378020801995531
DO - 10.1080/15378020801995531
M3 - Article
AN - SCOPUS:67650097348
VL - 11
SP - 124
EP - 137
JO - Journal of Foodservice Business Research
JF - Journal of Foodservice Business Research
SN - 1537-8020
IS - 2
ER -