Browsing by Author "Sousa, Catarina Xavier de"
Now showing 1 - 1 of 1
Results Per Page
Sort Options
- Managerial deception and earnings management : evidence from linguistic analysisPublication . Sousa, Catarina Xavier de; Monaco, EleonoraThis thesis aims to examine CEO deceptive behaviour in earnings conference calls as an explanatory factor of the adoption of earnings management practices. The data employed in our analysis consist of quarterly earnings conference calls transcript of S&P 500 constituents from 2003 to 2019. Discretionary accruals have been estimated both via Jones and Modified-Jones Models while real activities management have been examined detecting both abnormal cash flow from operations, abnormal production costs and abnormal discretionary expenses. We have found evidence that CEO deceitful behaviour is negatively associated with unusually low level of both abnormal cash flow from operations and abnormal expenses and positively associated with unusually high level of production costs. Moreover, our results also confirm that in presence of CEO Duality, CEO deceitful behaviour is associated, instead, to the adoption of “more conservative” earnings manipulation practices. Finally, the impact of CEO deceitful behaviour is exacerbated in presence of both a male CEO and a pre-existing financial distress, captured via abnormal discretionary expenses.