Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 15, 2014 erstellt
Description:
This study examines the association between real earnings management, governance attributes, and IPO failure risk. Using a sample of 4174 IPOs firms that went public over the period of 1998-2011, we find evidence that real earnings management and governance attributes are associated with IPO failure risk. Moreover, we find that among governance attributes, board independence and board size are negatively associated with IPO failure risk. However, audit committee independence and CEO duality are not related to the probability of IPO failure risk. This study contributes to the current hot debate around IPO failure risk factors