Uncertainty or Cookie Jar Reserve?”
by Andrew Ferguson, Wei Hu and Peter Lam
dated June, 2021
This paper shows evidence of “managerial
opportunism” in earnout accounting by
overstating earnout liabilities after
acquisitions. It also shows that firms
with higher leverage, greater operating cash
flow and lower profitability are more likely
to overstate earnout liabilities.
Note: Full-text of this paper can be obtained by clicking
on the above title.
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