Earnings Management via Not-Wholly-Owned Subsidiaries

The authors thank the associate editor, two anonymous reviewers, Brian Bushee (editor), Wayne Thomas, Deren Xie, and the workshop participants at Fudan University, Jinan University, Peking University, Sun Yat-sen University, Tsinghua University, University of Southern California, Wuhan University, and Yale University for their helpful suggestions and comments. M. Luo thanks Dan Yu and Wanxin Luo for life-long continued support. X. Zhang thanks the Laboratory of Big Data Driven Management Behaviors and Decision Making, Ministry of Education, for research assistance.