Purpose: This study investigates the impact of earnings management on financial performance and the market liquidity for a sample of UK seasoned equity offerings (SEOs) between 2000 and 2020. This study also examines the occurrence of earnings management activities and their impact on market liquidity and financial performance around crucial events such as IFRS, the financial crisis, and Brexit. Design/methodology/approach: The sample consists of all UK SEOs, excluding financial industries, between the 1st of January 2000 and the 31st of December 2020. Univariate and multivariate analyses are ...