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Earnings management and accrual anomaly across market states and business cycles

โœ Scribed by Samuel Y.M. Ze-To


Book ID
119182968
Publisher
Elsevier Science
Year
2012
Tongue
English
Weight
202 KB
Volume
28
Category
Article
ISSN
0882-6110

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Explaining the accrual anomaly by market
โœ Randall Zhaohui Xu; Michael J. Lacina ๐Ÿ“‚ Article ๐Ÿ“… 2009 ๐Ÿ› Elsevier Science ๐ŸŒ English โš– 280 KB

This study examines the accrual anomaly under the framework of the Campbell [Campbell, J.Y. (1991). A variance decomposition for stock returns. Economic Journal 101 (405), 157-179.] model. The Campbell (1991) model shows that realized asset returns are a joint function of 1) expected returns, 2) rev