You are cordially invited to attend the next CEGE4ALL: Markets & Policy Seminar by Dante Viana Junior, on “ADR intra-sector spillover effect on accrual-based earnings management”.
Location: Católica Porto Business School, Edíficio do Paraíso, EP002
Date: December 2nd
Time: 2pm to 3 pm
This seminar will be held in a hybrid format.
You can attend it either in person (room EP002) or online.
Registration is mandatory. Please register in the link below by December 1st indicating if you will be attending in person or online. The weblink will be emailed to online attendees after registration.
This paper examines the intra-sector spillover effect of American depositary receipt (ADR) issuance activity on accrual-based earnings management of non-ADR firms. Based on a sample of 14,169 non-ADR UK-listed firms between 2000 and 2019, the results suggest that non-ADR firms from sectors with higher levels of ADR issuance activity present, on average, lower earnings management levels. The results are robust to a battery of robustness tests, considering, for instance, alternative periods of analysis and earnings management measures, and the implementation of different estimation techniques to mitigate endogeneity concerns. We additionally document that the stock price volatility of non-ADR firms works as an important channel to explain the documented decreasing-earnings management effect of ADR issuance activity. These findings complement the literature on the implications of cross-listing strategies by encouraging a specific debate on their consequences for the accounting quality of domestic non-cross-listed firms. Political discussions are highlighted.
PhD in Management, with specialization in Accounting (Iscte - University Institute of Lisbon, Portugal, 2018-2021). He has professional and academic development courses at Brigham Young University-Idaho (2014-2015), United States, and WHU-Otto Beisheim School of Management (2019), Germany. He is currently an Assistant Professor at the Faculty of Economics of the University of Algarve (FEUALG) and an integrated researcher at the Center for Advanced Studies in Management and Economics (CEFAGE-UALG), Portugal. He has professional experience in management control, analysis, and preparation of accounting financial statements. He is the author of articles published in notable scientific journals and nationally and internationally renowned conferences in accounting and management. He is interested in research on international accounting and earnings quality.
