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West Ashley Library
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Phone: (843) 766-6635
Folly Beach Library
9 a.m. - 1 p.m.
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Edgar Allan Poe/Sullivan's Island Library
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Wando Mount Pleasant Library
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Village Library
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Phone: (843) 884-9741
St. Paul's/Hollywood Library
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Dorchester Road Library
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Real earnings management and the strategic release of new products: evidence from the motion picture industry.
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- Author(s): Gong, James Jianxin1 (AUTHOR); Young, S. Mark2 (AUTHOR) ; Zhou, Aner3 (AUTHOR)
- Source:
Review of Accounting Studies. Sep2023, Vol. 28 Issue 3, p1209-1249. 41p. 10 Charts, 1 Graph.- Subject Terms:
- Source:
- Additional Information
- Abstract: Prior studies on real earnings management (REM) focus mainly on estimating abnormal operating and investing activities at the firm level. We extend this literature by providing micro-level evidence regarding how financial reporting pressures influence new product release decisions, or product-level REM. Specifically, we compare how public and private studios differentially time the release of their movies. We find that, faced with pressure to boost quarterly revenues and earnings, public studios are more likely to release movies with high expected revenues in the last month of a fiscal quarter, compared to private studios. This documented result is stronger for firms with recent poor past performance, but is not present for movies in genres with a more targeted release window (e.g., romance and horror movies) and those using directors who have a history of collaboration with the studio. These results suggest that studios choose REM activities that have a lower impact on consumer demand and that minimize conflict with talent, consistent with choosing less costly activities to achieve financial reporting goals. A negative consequence of this financial reporting–driven product release strategy is that movies released in the last month of a quarter have lower international box office revenues. Taken together, these results provide evidence of the existence and consequences of product-level REM. [ABSTRACT FROM AUTHOR]
- Abstract: Copyright of Review of Accounting Studies is the property of Springer Nature and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Abstract:
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