Canitz, Felix; Fieberg, Christian; Lopatta, Kerstin; … - In: The Journal of Risk Finance 19 (2018) 3, pp. 210-224
Purpose: This paper aims to hunt for the driving force behind the accrual anomaly and revisit the risk versus mispricing debate. Design/methodology/approach: In sorts of stock returns on abnormal and normal accruals, the authors find that abnormal accruals are the driving force behind the...