The Accrual Anomaly : International Evidence

  title={The Accrual Anomaly : International Evidence},
  author={Morton Pincus},
We consider stock markets in 20 countries to investigate whether the accrual anomaly (Sloan 1996), characterized by U.S. stock prices overweighting the role of accrual persistence, is a local manifestation of a global phenomenon. We explore whether the occurrence of the anomaly is related to country differences in accounting and institutional structures, and examine alternative explanations for its occurrence. We find stock prices overweight accruals in general, with accruals overweighting… CONTINUE READING
Highly Influential
This paper has highly influenced 15 other papers. REVIEW HIGHLY INFLUENTIAL CITATIONS

From This Paper

Figures, tables, and topics from this paper.


Publications citing this paper.
Showing 1-10 of 52 extracted citations


Publications referenced by this paper.
Showing 1-10 of 37 references

The mispricing of abnormal accruals

View 6 Excerpts
Highly Influenced

The world price of insider trading

H. Daouk
earnings. Journal of Accounting and Economics • 2002
View 9 Excerpts
Highly Influenced

Accounting standards and value relevance of financial statements: An international analysis

M. Hung
Journal of Accounting and Economics 30: 401–420. • 2001
View 12 Excerpts
Highly Influenced

dards, and the predictability of earnings

R. Ball, S. P. Kothari, A. Robin
Journal of Accounting Research • 2000
View 13 Excerpts
Highly Influenced

A Rational Expectations Approach to Macroeconometrics: Testing Policy Ineffectiveness and Efficient-Markets Models

F. Mishkin
Chicago, IL: University of Chicago Press. • 1983
View 10 Excerpts
Highly Influenced

Earnings management and institutional factors: An international comparison

C. Leuz, D. J. Nanda, P. Wysocki.
Journal of Financial Economics 69 (3): 505–527. • 2003
View 4 Excerpts
Highly Influenced