Free Cash Flow and Earnings Management in Brazil: The Negative Side of Financial Slack
Keywords:
free cash flow, discretionary accruals, earnings management
Abstract
The article investigates whether Brazilian firms with excess free cash flow (FCF) and low growth perspectives (Jensen. 1986), when there is excess FCF, accompanied by limited growth perspectives, managers have incentives to camouflage the impact of investments in projects with negative net present value (NPV) by presenting inflated profits. The study includes firms listed on the BMF
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How to Cite
Antonio Lopo Martinez, Fabricio Terci Cardoso, & Aridelmo J. C. Teixeira. (2014). Free Cash Flow and Earnings Management in Brazil: The Negative Side of Financial Slack. Global Journal of Management and Business Research, 14(D1), 75–86. Retrieved from https://journalofbusiness.org/index.php/GJMBR/article/view/1217
Published
2014-01-15
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Articles
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Copyright (c) 2014 Authors and Global Journals Private Limited
This work is licensed under a Creative Commons Attribution 4.0 International License.