Hong Hai Phan

Does Overvaluation Predict Earnings Management? Evidence on the Agency Costs of Overvalued Equity in a Frontier Market

Most of the accounting literature on emerging markets asks whether capital markets reward high-quality earnings. This paper reverses the question and asks whether market valuation shapes subsequent reporting. Using 4981 firm-year observations for 619 non-financial Vietnamese listed firms, with misvaluation measured fro...