RESEARCH ARTICLE
Typhoon strikes, political costs and earnings management
Jun Du,
Xinhui Dai,
Bo Yan,
Jun Du
College of Management, Guangdong Ocean University, Zhanjiang, China
Guangdong Academy of Coastal Economic Belt Development, Zhanjiang, China
Search for more papers by this authorXinhui Dai
College of Management, Guangdong Ocean University, Zhanjiang, China
Search for more papers by this authorCorresponding Author
Bo Yan
College of Management, Guangdong Ocean University, Zhanjiang, China
Guangdong Academy of Coastal Economic Belt Development, Zhanjiang, China
Correspondence
Bo Yan, College of Management, Guangdong Ocean University, No. 1, Haida Road, Ma Zhang District, 524088 Zhanjiang City, Guangdong, China.
Email: [email protected]
Search for more papers by this authorJun Du,
Xinhui Dai,
Bo Yan,
Jun Du
College of Management, Guangdong Ocean University, Zhanjiang, China
Guangdong Academy of Coastal Economic Belt Development, Zhanjiang, China
Search for more papers by this authorXinhui Dai
College of Management, Guangdong Ocean University, Zhanjiang, China
Search for more papers by this authorCorresponding Author
Bo Yan
College of Management, Guangdong Ocean University, Zhanjiang, China
Guangdong Academy of Coastal Economic Belt Development, Zhanjiang, China
Correspondence
Bo Yan, College of Management, Guangdong Ocean University, No. 1, Haida Road, Ma Zhang District, 524088 Zhanjiang City, Guangdong, China.
Email: [email protected]
Search for more papers by this authorAbstract
This study examines how firms in typhoon-prone areas respond to the political costs of typhoon strikes. We found that such firms tend to engage in downward earnings management after a typhoon strike. Various robustness tests support our findings: cross-sectional variation tests indicate that this tendency is strong in cities with high governmental intervention and incentives for political leaders and in firms with high political connections and visibility. Further analysis reveals that typhoon strikes enhance earnings management by intensifying fiscal pressure. Finally, this study provides a precise evaluation of the adverse effects of typhoons and complements the existing literature on the political cost hypothesis.
Open Research
DATA AVAILABILITY STATEMENT
All data used to generate the results reported in this paper are available upon request from the corresponding author.
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