China-US trade dispute investigations and corporate earnings management strategy

作     者：Dongdong Li Fan Shi Kemin Wang 

作者机构：School of AccountingZhongnan University of Economics and LawChina School of ManagementFudan UniversityChina 

出 版 物：《China Journal of Accounting Research》 (中国会计学刊（英文版）)

年 卷 期：2020年第13卷第4期

页      面：339-359页

学科分类：02[经济学] 0202[经济学-应用经济学] 020206[经济学-国际贸易学] 

基　　金：support from National Natural Science Foundation of China (NSFC Project Numbers 71972049) 

主　　题：China-US trade disputes Earnings management Market valuation 

摘      要：This paper studies Chinese firms’earnings management strategy in response to the trade dispute investigations initiated by the *** 2001 to *** topic is important given the increasingly severe international trade environment and the significant influence of macro economy on financial *** find that firms affected by the U.S.-initiated trade dispute investigations engage in more upward earnings ***,the result is more pronounced in firms with a more negative market reaction around the announcement of the ***-sectional tests provide evidence that the positive relation is stronger among firms whose *** revenue and management ownership is high,firms in provinces with weak investor protection,and firms that performed well one year after initiation of the ***,investors react positively to the earnings management by the affected *** results are robust to a variety of sensitivity ***,our findings suggest that companies will manage their earnings upward to mitigate the negative impacts of the U.S.-initiated trade dispute investigations.