Earning management and the price of stocks of seasoned equity offerings companies listed on vietnamese stock exchange

Abstract

This paper is aimed to investigate whether earning management behavior affects the price of stocks of seasoned equity offerings companies listed on Vietnamese stock exchange or not. Based on a sample including 150 seasoned equity offerings companies in the period 2009-2012. This study found that, having increasing earning management behavior in issuing year and before issuing year. Magnitude of increasing earning management behavior in issuing year is higher than before issuing year. The interesting result is the more earning management, the more the price of stocks.