ALI, ASHIQ; CHEN, XUANJUAN; YAO, TONG; YU, TONG - In: Journal of Accounting Research 46 (2008) 1, pp. 1-26
<heading id="h1" level="1" implicit="yes" format="display">ABSTRACT</heading>Using data on both fund stockholdings and fund returns, we examine whether actively managed equity mutual funds trade on and profit from the accruals anomaly. We find that few, if any, mutual funds trade on the anomaly. The top 10% of mutual funds that have the highest portfolio weights...
