Essays about: "Accrual Anomaly"

Found 3 essays containing the words Accrual Anomaly.

  1. 1. Last Measure Standing - Gross Profitability's Role in the Demise of the Accrual Anomaly

    University essay from Handelshögskolan i Stockholm/Institutionen för redovisning och finansiering

    Author : Martin Kessler; Michael Fernandez Tarlo; [2015]
    Keywords : Accrual Anomaly; Gross Profits; Future Excess Stock Returns; Adaptive Market Efficiency; Accounting Subjectivity;

    Abstract : We confirm the previously well-evidenced negative relation between the accrual part of earnings and future excess stock returns for the period 1990-1999, and show that this relation has become statistically insignificant for the period 2000-2010. As a contrasting measure underlying only limited accounting subjectivity, we show gross profitability to be negatively related to future excess stock returns under lax controls, and find this relation to become slightly stronger in the period 2000-2010. READ MORE

  3. 2. The Accruals Based Trading Strategy on the Swedish Stock Market: Does the benchmark when classifying extreme accrual firms have an impact on the trading strategy’s effectiveness?

    University essay from Lunds universitet/Företagsekonomiska institutionen

    Author : Jessica Buö; Ellinor Molander Kroon; [2014]
    Keywords : Accruals anomaly; trading strategy; market efficiency; earnings fixation; Business and Economics;

    Abstract : Purpose: To investigate if it is possible to earn abnormal returns from the accruals based trading strategy in Sweden. The aim is also to examine if the benchmark used when classifying firms into accruals portfolios has an impact on the abnormal returns from the trading strategy. READ MORE

  4. 3. Are Accruals Mispriced? Evidence from Sweden

    University essay from Handelshögskolan i Stockholm/Institutionen för redovisning och finansiering

    Author : Boris Ivanov; Veronika Maximova; [2011]
    Keywords : Accrual Anomaly; Accruals; Discretionary Accruals; Jones model; Market Efficiency;

    Abstract : We investigate whether Sloan's (1996) accrual-based trading strategy extended with discretionary accrual measures could be applied to the Swedish market in 1998-2010. To increase the strength of our conclusions, we base our study on two alternative measures of discretionary accruals: the widely used Modified Jones (Dechow et al. READ MORE