Hello, I am a doctoral candidate in accounting at Yale School of Management. My dissertation committee members are Jacob K. Thomas (chair), Shyam Sunder, Frank X. Zhang, and Alina Lerman. My research focuses on financial contracting and real earnings management. I am also interested in the pricing of accounting information, accounting disclosure, and financial regulation.

In my job market paper, I explore an important aspect of the lender-side of debt contracting by providing intra-quarter evidence that banks that serve as lead arrangers engage in costly real earnings management to achieve earnings benchmarks. Specifically, I document that these lenders initiate more loans to book revenues (as permitted by SFAS 91) in the last month of fiscal quarters by offering discounts (up to 20 basis points). Their engagement in other means of earnings management and the inexperience of these syndicates provide explanation for the existence of these contracts in equilibrium.



Aytekin Ertan

Yale School of Management

135 Prospect St

New Haven, CT 06520-8200

Tel: (203) 584-5515

E-mail: aytekin.ertan@yale.edu



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