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Aim of this study is studying relation of management earnings forecast error and information content of accruals. Thus, the sample consists of 71 companies were selected for the period 2003-2011. In this study discretionary accruals is used as independent variables. The results suggest that...
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study methodology, the evidence suggests directors have, and trade on, price-sensitive private information and, thus, attain … short-term abnormal returns. The study finds that the market perceives such transactions as price sensitive signals. Selling …
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