What drives the accrual spread? Evidence from a contemporary decomposition approach

• المؤلفون الرئيسيون: Cao, Viet Nga, Chaub, Frankie, Paudyal, Krishna
• مؤلفون آخرون: Hội thảo quốc tế Ngân hàng và Tài chính thế giới 2015
• التنسيق: Conference or Workshop Item
• اللغة: English
• منشور في: Trường Đại học Kinh tế 2020
• الموضوعات: Accrual decomposition; Earnings management; Financial constraint; Q-theory
• الوصول للمادة أونلاين: http://repository.vnu.edu.vn/handle/VNU_123/97704
• المؤسسة: Vietnam National University, Hanoi

We examine the main drivers of the accrual spread and the profitability of accrual-based trading strategies by disaggregating total accrual into three components: investment in working capital that supports growth, accrual estimation error, and temporary working capital fluctuation. Several findi...