“Can’t anybody tell the truth anymore?” an exasperated Bob J. asked me at a recent cocktail reception.
“Evidently not” I told him.
Bob had seen me earlier that afternoon on Fox News. I appeared on the show to respond to a new study on corporate earnings by Professors Ilia Dichev, Shiva Rajgopal of Emory University and John Graham of Duke.
The study found that a full 20% of publicly traded companies lie about their earnings.
The shocking thing is that the figure wasn’t much…