文献来源Cohen, D. A., & Zarowin, P. (2010).Accrual-based and real earnings management activities around seasoned equity offerings. Journal of Accounting and Economics, 50(1), 2–19.数据来源清洗数据cd C:\Download
u Fundamentals_Annual, clear
keep if regexm(DATADATE,"-12-31")
duplicates drop GVKEY FYEAR, force
g year = FYEAR
xtset GVKEY year
g lat = L.AT
drop if mi(lat)
foreach v of var IB OANCF PPEGT SALEPFC SALEPFP{
replace `v' = 0 if mi(`v')
}
g one = 1
g ta = IB - OANCF
g cfo = OANCF
g ppe = PPEGT
g dsales = SALEPFC - SALEPFP
foreach v of var one-dsales{
g `v'_lat = `v'/lat
replace `v'_lat = 0 if mi(`v'_lat)
}
keep GV y *_lat SIC
tostring SIC, gen(i)
replace i = substr(i,1,2)
destring i, replace
asreg ta one ppe dsales, by(y i) fit noc
winsor _r, gen(DA) p(.01)
keep DA GV y
la var D 美国企业应计盈余管理
sa 美国企业应计盈余管理, replace
d
ta y
kdensity D 得到结果Contains data from 美国企业应计盈余管理.dta
Observations:
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