dam a22 2 4500 551314109 CHVBK 20200911032848.0 cr || |||||||| 181212s2018 sz om 00 eng d (IDSSG)001028717 SzZuIDS HSG ger rda 658.1512 23 11542081101 edok Röllin Christian Verfasser aut Non-GAAP Earnings Disclosures and the Role of Institutional Investors Evidence from the United States Christian Röllin St. Gallen 2018 1 Online-Ressource Text txt rdacontent/ger Computermedien c rdamedia/ger Online-Ressource cr rdacarrier/ger Master-Arbeit / Universität St. Gallen Masterarbeit Universität St. Gallen 2018 This Master's thesis studies the information quality of non-GAAP earnings disclosed by S&P 500 firms for a recent four-year time period and subsequently uses the disclosure of these voluntary, unaudited, and not uniformly defined numbers as a setting to assess the influence of a particular mechanism of corporate governance - institutional ownership. Examining 1'387 full-year press releases and identifying 1'021 disclosures of non-GAAP EPS numbers made by a total of 296 firms, this thesis finds that more than 70% of the firms studied reported a non-GAAP EPS number in their full-year press releases in all of the four fiscal years (i.e., 2012-2015) analyzed. Besides, a pronounced increase in the spread between GAAP and non-GAAP earnings numbers is observed. Using a pooled regression model, it is found that some of the exclusions made by firms when calculating non-GAAP EPS numbers are not completely transitory. This can be viewed as a signal of reduced quality of non-GAAP earnings and the potential presence of opportunistic motives among some reporting firms. Despite the appealing notion that institutional investors can exert significant influence on corporate management, extended pooled regression models taking into account the aspect of institutional ownership do not yield any conclusive evidence of an association between the level of institutional ownership and the information quality of non-GAAP earnings. Unternehmensergebnis (DE-588)4249656-1 gnd Bilanzkennzahl (DE-588)4121025-6 gnd Publizität (DE-588)4131817-1 gnd Institutioneller Anleger (DE-588)4252195-6 gnd USA (DE-588)4078704-7 gnd Non-GAAP Earnings; Quality of Financial Reporting; Institutional Ownership Hochschulschrift gnd-content Dinh Tami 1980- (DE-588)132140020 Akademischer Betreuer dgs http://www1.unisg.ch/org/biblio/edoc.nsf/SysLkpByIdentifier/11542081101/$FILE/11542081101.pdf Volltext für Angehörige der Universität St. Gallen BK020353 XK020053 XK020000 IDSSG 100 1- Röllin Christian Verfasser aut IDSSG 490 0- Master-Arbeit / Universität St. Gallen IDSSG 700 1- Dinh Tami 1980- (DE-588)132140020 Akademischer Betreuer dgs IDSSG 856 4- http://www1.unisg.ch/org/biblio/edoc.nsf/SysLkpByIdentifier/11542081101/$FILE/11542081101.pdf Volltext für Angehörige der Universität St. Gallen