This study conducts the first analysis of the association between earnings management (EM) and corporate site visits. Results show that a corporate’s accrual-based EM is negatively associated with investors’ site visits, the number of external participants, especially institutional investors, and the depth and breadth of communication during a site visit. However, no significant relationship is found between the presence of core managers, non-institutional investors and accrual-based EM. Our findings provide significant implications for investors and regulators who seek to constrain EM.

中文翻译：

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企业实地考察和盈余管理

本研究首次分析了盈余管理 (EM) 与企业实地考察之间的关联。结果表明，企业基于权责发生制的 EM 与投资者的实地考察、外部参与者（尤其是机构投资者）的数量以及实地考察期间交流的深度和广度呈负相关。然而，在核心经理人、非机构投资者和权责发生制新兴市场之间没有发现显着关系。我们的发现对寻求限制新兴市场的投资者和监管机构具有重要意义。