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- Title
An integrated analysis of the association between accrual disclosure and the abnormal accrual anomaly.
- Authors
Louis, Henock; Robinson, Dahlia; Sbaraglia, Andrew
- Abstract
We find no evidence of accrual mispricing for firms that disclose accrual information at earnings announcements. For these firms, the market differentiates the discretionary from the nondiscretionary components of the earnings surprise. In contrast, the market fails to distinguish between the discretionary and the nondiscretionary components of the earnings surprise for firms that do not disclose accrual information at earnings announcements. These firms experience some stock price correction around the filing date. However, the correction is only partial, resulting in a post-filing drift.
- Subjects
PRICES of securities; STOCK prices; STOCK price indexes; FINANCIAL quotations; ACCOUNTING methods; DEFERRED credit; ACCRUAL basis accounting; STOCK quotations; PRICE-earnings ratio
- Publication
Review of Accounting Studies, 2008, Vol 13, Issue 1, p23
- ISSN
1380-6653
- Publication type
Article
- DOI
10.1007/s11142-007-9038-z