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Earnings management of target firms and deal premiums: The role of industry relatedness

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Earnings management of target firms and deal premiums: The role of industry relatedness

dc.contributor.author	Perafan Peña, Héctor Fabio
dc.contributor.author	Gill de Albornoz, Belén
dc.contributor.author	Giner, Begoña
dc.date.accessioned	2023-06-23T07:47:31Z
dc.date.available	2023-06-24T04:45:06Z
dc.date.issued	2022	es_ES
dc.identifier.citation	Héctor Fabio Perafán-Peña, Belén Gill-de-Albornoz, Begoña Giner, Earnings management of target firms and deal premiums: The role of industry relatedness, The British Accounting Review, Volume 54, Issue 2, 2022, 101038.	es_ES
dc.identifier.uri	https://hdl.handle.net/10550/88524
dc.description.abstract	This paper contributes to the merger and acquisitions (M&A) literature by providing evidence for the role of industry relatedness in the association between target firms’ earnings management (EM) before the deal and the premium offered by the acquirer. We argue that familiarity with the industry’s policies and practices is a crucial factor that helps acquirers to see through targets’ EM. Our evidence supports this prediction in relation to accounting manipulation as we observe that the income increasing accrual manipulation of the target results in significantly higher premiums offered by acquirers in interindustry deals, which is not the case when targets and acquirers belong to the same industry.	es_ES
dc.language.iso	en	es_ES
dc.publisher	Elsevier	es_ES
dc.subject	mergers and acquisitions	es_ES
dc.subject	earnings management	es_ES
dc.subject	bid premium	es_ES
dc.subject	industry relatedness	es_ES
dc.title	Earnings management of target firms and deal premiums: The role of industry relatedness	es_ES
dc.type	journal article	es_ES
dc.subject.unesco	UNESCO::CIENCIAS ECONÓMICAS	es_ES
dc.identifier.doi	10.1016/j.bar.2021.101038	es_ES
dc.accrualmethod	S	es_ES
dc.embargo.terms	0 days	es_ES
dc.type.hasVersion	VoR	es_ES
dc.rights.accessRights	open access	es_ES