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https://doi.org/10.21256/zhaw-28155| Publikationstyp: | Beitrag in wissenschaftlicher Zeitschrift |
| Art der Begutachtung: | Peer review (Publikation) |
| Titel: | The disappearance of the zero-earnings discontinuity : SOX, dotcom boom or gradual decline? |
| Autor/-in: | Chardonnens, Patrick Fiechter, Peter Wallmeier, Martin |
| et. al: | No |
| DOI: | 10.1016/j.frl.2022.103033 10.21256/zhaw-28155 |
| Erschienen in: | Finance Research Letters |
| Band(Heft): | 49 |
| Heft: | 103033 |
| Erscheinungsdatum: | 2022 |
| Verlag / Hrsg. Institution: | Elsevier |
| ISSN: | 1544-6123 |
| Sprache: | Englisch |
| Schlagwörter: | Earnings management; Zero-earnings discontinuity; Sarbanes-Oxley Act (SOX); Dotcom boom; Earnings distribution; Loss avoidance |
| Fachgebiet (DDC): | 332.6: Investition |
| Zusammenfassung: | The zero-earnings discontinuity in the US disappeared around the time when the Sarbanes–Oxley Act (SOX) became effective, suggesting that SOX may have reduced the small loss avoidance by firms. In this paper, we examine a potential confounding effect arising from the dotcom boom at the turn of the millennium. Many newly listed dotcom firms had no revenues but high market capitalizations. Therefore, they mechanically fell into the smallest loss interval, artificially reducing the zero-earnings discontinuity. Once this dotcom effect is accounted for, our results no longer suggest a sharp (causal) effect of SOX on the decline in the zero-earnings discontinuity. |
| URI: | https://digitalcollection.zhaw.ch/handle/11475/28155 |
| Volltext Version: | Publizierte Version |
| Lizenz (gemäss Verlagsvertrag): | CC BY 4.0: Namensnennung 4.0 International |
| Departement: | School of Management and Law |
| Organisationseinheit: | Institut für Financial Management (IFI) |
| Enthalten in den Sammlungen: | Publikationen School of Management and Law |
Dateien zu dieser Ressource:
| Datei | Beschreibung | Größe | Format | |
|---|---|---|---|---|
| 2022_Chardonnes-etal_Disappearance-of-the-zero-earnings-discontinuity.pdf | 630.66 kB | Adobe PDF |  Öffnen/Anzeigen |
Zur Langanzeige
Chardonnens, P., Fiechter, P., & Wallmeier, M. (2022). The disappearance of the zero-earnings discontinuity : SOX, dotcom boom or gradual decline? Finance Research Letters, 49(103033). https://doi.org/10.1016/j.frl.2022.103033
Chardonnens, P., Fiechter, P. and Wallmeier, M. (2022) ‘The disappearance of the zero-earnings discontinuity : SOX, dotcom boom or gradual decline?’, Finance Research Letters, 49(103033). Available at: https://doi.org/10.1016/j.frl.2022.103033.
P. Chardonnens, P. Fiechter, and M. Wallmeier, “The disappearance of the zero-earnings discontinuity : SOX, dotcom boom or gradual decline?,” Finance Research Letters, vol. 49, no. 103033, 2022, doi: 10.1016/j.frl.2022.103033.
CHARDONNENS, Patrick, Peter FIECHTER und Martin WALLMEIER, 2022. The disappearance of the zero-earnings discontinuity : SOX, dotcom boom or gradual decline? Finance Research Letters. 2022. Bd. 49, Nr. 103033. DOI 10.1016/j.frl.2022.103033
Chardonnens, Patrick, Peter Fiechter, and Martin Wallmeier. 2022. “The Disappearance of the Zero-Earnings Discontinuity : SOX, Dotcom Boom or Gradual Decline?” Finance Research Letters 49 (103033). https://doi.org/10.1016/j.frl.2022.103033.
Chardonnens, Patrick, et al. “The Disappearance of the Zero-Earnings Discontinuity : SOX, Dotcom Boom or Gradual Decline?” Finance Research Letters, vol. 49, no. 103033, 2022, https://doi.org/10.1016/j.frl.2022.103033.
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