讲座预告|Are Financially Constrained Firms More Prone to Financial Restatements?
Topic: Are Financially Constrained Firms More Prone to Financial Restatements?
Speaker: Shantanu Dutta, Ph.D. Associate Professor of Finance, University of Ottawa
Date: 6th July 2018 (Friday)
Location: M201, Business School
We examine the association between financially constrained firms and financial restatements. We find that financially constrained firms as defined by Audit Analytics are more prone to restate their financial statements. We also find that, among financially constrained firms, weaker firm performance, greater financial leverage and greater informational complexity are associated with higher discretionary accruals and more restatements. However, while firms with greater investment opportunities and financing needs have higher discretionary accruals, they are not associated with more restatements. Last but not least, we find that a financial constraint measure based on textual analysis outperforms traditional metrics used in prior research to predict restatements.
Shantanu Dutta is an Associate Professor of Finance at Telfer School of Management, University of Ottawa. He is a recipient of Research Excellence Award at Telfer School of Management for his innovative research in the finance area. Previously, he taught at University of Ontario Institute of Technology (UOIT), St. Francis Xavier University, Nova Scotia and Assumption University, Bangkok as a full-time faculty member. Before his career in academe, he served as a Finance Manager and Project Controller at Lafarge – a world leader in construction materials. Shantanu Dutta’s research focuses on mergers and acquisitions, media coverage and financial decisions, corporate governance, market efficiency, dividend policy and technology management.
MBA Education Center
活动地点M201, Business School