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The Impact of ASC 606 and Firm Chara...

Hubbard, Benjamin Grant.

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The Impact of ASC 606 and Firm Characteristics on Revenue Manipulation.

Record Type:	Electronic resources : Monograph/item
Title/Author:	The Impact of ASC 606 and Firm Characteristics on Revenue Manipulation./
Author:	Hubbard, Benjamin Grant.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2023,
Description:	59 p.
Notes:	Source: Dissertations Abstracts International, Volume: 84-10, Section: A.
Contained By:	Dissertations Abstracts International84-10A.
Subject:	Investments. -
Online resource:	https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=30499155
ISBN:	9798379435394

The Impact of ASC 606 and Firm Characteristics on Revenue Manipulation.
Hubbard, Benjamin Grant.

The Impact of ASC 606 and Firm Characteristics on Revenue Manipulation. - Ann Arbor : ProQuest Dissertations & Theses, 2023 - 59 p.

Source: Dissertations Abstracts International, Volume: 84-10, Section: A.

Thesis (Ph.D.)--Purdue University, 2023.

This item must not be sold to any third party vendors.

The implementation of ASC 606 significantly changed revenue recognition practices for many firms in the capital market by increasing the level of discretion required to record revenue amounts. I examine the impact of this increase in discretion on revenue manipulation around external targets. I find that firms near analyst revenue targets have increased levels of discretionary revenues under ASC 606 relative to their peers, indicating increased revenue manipulation. Further analysis reveals that these increased levels of discretionary revenues are concentrated in firms characterized as having increased opportunity or incentive to use ASC 606 opportunistically to manipulate revenues upwards. Specifically, firms with more complex revenue operations and firms in earlier life cycles are associated with increased discretionary revenues under ASC 606. I also provide preliminary evidence of revenue manipulation varying systematically with industry characteristics. This paper is one of the first to provide evidence of capital market consequences stemming from ASC 606, while also highlighting the impact of firm characteristics on the choice to manage revenues.

ISBN: 9798379435394Subjects--Topical Terms:

566987
Investments.

The Impact of ASC 606 and Firm Characteristics on Revenue Manipulation.
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500 $a Advisor: Black, Jonathan.
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520 $a The implementation of ASC 606 significantly changed revenue recognition practices for many firms in the capital market by increasing the level of discretion required to record revenue amounts. I examine the impact of this increase in discretion on revenue manipulation around external targets. I find that firms near analyst revenue targets have increased levels of discretionary revenues under ASC 606 relative to their peers, indicating increased revenue manipulation. Further analysis reveals that these increased levels of discretionary revenues are concentrated in firms characterized as having increased opportunity or incentive to use ASC 606 opportunistically to manipulate revenues upwards. Specifically, firms with more complex revenue operations and firms in earlier life cycles are associated with increased discretionary revenues under ASC 606. I also provide preliminary evidence of revenue manipulation varying systematically with industry characteristics. This paper is one of the first to provide evidence of capital market consequences stemming from ASC 606, while also highlighting the impact of firm characteristics on the choice to manage revenues.
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