Can the earnings fixation hypothesis explain the accrual anomaly?

• المؤلفون الرئيسيون: Shi, Linna, Zhang, Huai
• مؤلفون آخرون: Nanyang Business School
• التنسيق: مقال
• اللغة: English
• منشور في: 2013
• الموضوعات: Business
• الوصول للمادة أونلاين: https://hdl.handle.net/10356/100277; http://hdl.handle.net/10220/18137

This paper provides empirical evidence on whether the earnings fixation hypothesis can explain the accrual anomaly originally documented in Sloan (1996). Our analytical model yields the prediction that if investors fixate on reported earnings, the effectiveness of the accrual strategy will increase...