Stock Repurchases as an Earnings Management Device

By Paul Hribar, N. T. Jenkins, W. Johnson. 2006

419 citations recorded by the source corpus.

Subfields: Accounting, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/fdf410f62ac7f16a0a50ef9f61c8716ffa6778e7

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Citations in the corpus

Evidence on the Trade-Off between Real Activities Manipulation and Accrual-Based Earnings Management (2012, neutral): “Other types of real activities manipulation that have been explored include cutting advertising expenditures (Cohen et al. 2010), stock repurchases (Hribar et al. 2006), sales of profitable assets (Herrmann et al. 2003; Bartov 1993), sales price reductions (Jackson and Wilcox 2000), derivative…”
The Real Effects of Share Repurchases (2016, positive): “As first shown by Hribar et al. (2006), there is a strong discontinuity in the probability of accretive share repurchases around the threshold at which the firm would narrowly miss the analyst earnings consensus, without conducting share repurchases (see Fig.”
Audit Quality and the Trade-Off between Accretive Stock Repurchases and Accrual-Based Earnings Management (2012, methodology): “Our results remain robust when using the estimation method used by Hribar et al. (2006).”
Understanding Earnings Quality: A Review of the Proxies, Their Determinants and Their Consequences (2010, background): “Firms also make real decisions to meet analyst forecasts such as repurchasing stock (Hribar et al., 2006), selling fixed assets or marketable securities (Herrmann et al., 2003), or repurchasing shares (Bens et al., 2003).”
Evolution in Value Relevance of Accounting Information (2019, neutral): “…recently available accounting amounts are value relevant, such as share repurchases and issuances, total assets and total liabilities at fair value, stock-based compensation expense, and several pension amounts (Barth et al. 2001; Aboody, Barth, and Kasznik 2004; Hribar, Jenkins, and Johnson 2006).”
R&D Expenditure and Earnings Targets (2009, neutral): “Further, research also indicates that the valuation premium associated with meeting or beating an earnings target is lower for firms suspected by the market of having managed earnings (Bartov et al., 2002; Hribar et al., 2004).”
CEO Narcissism and Accounting: A Picture of Profits (2014, methodology): “EPS accretion is calculated as the difference between actual EPS and the 9 We define a buyback company in year t, following Griffin and Zhu (2010) and Hribar et al. (2006) as a 1 if (prstkct prstkpct .”
Why do Firms Repurchase Stock (2012, neutral): “Hribar et al. (2006) find a higher than expected proportion of accretive stock repurchases among firms with small, negative "pre-repurchase" earnings surprises.”