The impact of profit management on stock prices – An empirical study in Vietnam

Abstract

Earning management is one of the topics that has garnered significant attention from researchers, investors, and regulatory authorities, as this behavior has the potential to influence stock prices in the securities market. The objective of this research is to provide empirical evidence on the direct and indirect effects of on stock prices, using data from 243 listed manufacturing and business enterprises in the Vietnamese stock market during the period 2016 - 2021. The research results indicate that has a direct inverse impact on stock prices, a concurrent impact on financial statement disclosures, and disclosures have a concurrent impact on stock prices. The influence of intermediate variables in financial report disclosure on stock prices is also observed.