Couverture de The Accrual anomaly
Titre du livre:

The Accrual anomaly

An investigation on the Dutch stock market

LAP LAMBERT Academic Publishing (12-04-2012 )

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ISBN-13:

978-3-8484-4018-4

ISBN-10:
3848440180
EAN:
9783848440184
Langue du livre:
Anglais
texte du rabat:
This paper investigates the existence of the accrual anomaly on the Dutch stock market. It documents that there is statistical evidence to accept that the cash flow component of current earnings is significantly more persistent than the accrual component of current earnings with respect to future earnings. Applying a trading strategy this paper shows that a significant abnormal return can de made by constructing a portfolio consisting of firms with relatively low accruals. However, contrary to U.S. findings, a hedge return consisting of a long position in low accruals firms and a short position in high accruals firms (hedge portfolio) generates neither substantial nor statistically significant returns.
Maison d'édition:
LAP LAMBERT Academic Publishing
Site Web:
https://www.lap-publishing.com/
de (auteur) :
Paul Hoefsloot
Numéro de pages:
64
Publié le:
12-04-2012
Stock:
Disponible
Catégorie:
Économie
Prix:
49.00 €
Mots-clés:
accruals, Cash Flows, Accrual Anomaly, abnormal stock return

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