Battalio, Robert H.; Lerman, Alina; Livnat, Joshua; … - In: Journal of Accounting and Economics 53 (2012) 1, pp. 205-224
We show that the vast majority of investors ignore value-relevant accruals information when it is first released, but that investors who initiate trades of at least 5,000 shares tend to transact in the proper direction. These investors trade on accruals information only when the...
