Download or read book Three Essays in Equity Offerings and Related Issues written by Gemma Lee and published by . This book was released on 2006 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: My dissertation consists of three chapters. My first chapter examines the degree of earnings management by IPO issuers and further investigates which financial institutions participating in the IPO process play a significant role in discouraging earnings manipulation. I employ a propensity score matching technique to improve on the existing approach of measuring earnings management, and also to control for potential endogeniety. After controlling for endogeniety in these two variables, the analysis shows that underwriters, but not venture capitalists are associated with a significant decrease in earnings management.