The Accrual Anomaly : International Evidence

@inproceedings{Pincus2007TheAA,
  title={The Accrual Anomaly : International Evidence},
  author={Morton Pincus},
  year={2007}
}
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
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