Essays about: "Michael Fernandez Tarlo"

Found 1 essay containing the words Michael Fernandez Tarlo.

  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