Testing the accruals anomaly based on the speed of price adjustment
In this study, we investigate the nature of the accruals anomaly by analyzing the speed of price adjustment to accruals information. Consistent with the mispricing hypothesis, we find that a relatively larger proportion of accruals premium is distributed near the filing dates among low limits-to-arb...
| Main Authors: | , , |
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| Format: | Journal Article |
| Published: |
Routledge
2021
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| Online Access: | http://hdl.handle.net/20.500.11937/89109 |