Author Type

Graduate Student

Date of Award

2013

Document Type

Thesis

Publication Status

Version of Record

Submission Date

October 2026

Abstract

I examine the presence of earnings management at pre-IPO and lockup periods. Motivated by significant post-lockup insider sales documented in prior research, I investigate whether insiders (managers and venture capitalists) inflate earnings around the lockup period in order to increase share price and maximize personal wealth from selling shares at lockup expiration. I also compare levels of earnings management in the pre-IPO and lockup periods with those in the post-lockup period. Prior research also documents that auditor quality mitigates earnings management behavior. I explore the impact of auditor quality in the unique setting of IPO lockups. ... Cross-sectional analysis reveals that my sample IPO firms also utilize real-activities manipulation, but only in the early pre-IPO period. The results are robust with respect to alternative abnormal accruals and real-activities measures. I also find that IPO firms that hire prestigious auditors experience less earnings management in the lockup period than firms with lower-quality auditors, after controlling for the monitoring role of venture capitalist and underwriter reputation.

Extent

xi, 114 p. : ill. (some col.)

Comments

by Lizhong Hao.|Thesis (Ph.D.)--Florida Atlantic University, 2013.|Includes bibliography.|Mode of access: World Wide Web.|System requirements: Adobe Reader.|by Lizhong Hao.

Identifier

FADT3362378

Format

pdf

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