Recent research shows that high return dispersion (RD) is associated with economic conditions characterized by high discount rates, which are not conducive to growth and investment. We propose that RD risk can explain the accrual and investment anomalies. We conduct asset-pricing tests that...

We decompose the accrual premium and study its components in the debt and equity markets. We show that the importance of each accrual component depends on the sample and the type of market considered. The short-term accruals component is primarily observed in equity markets, among small and...

Two separate strands in the existing literature document that (1) the value premium may be the reward for risk generated by disagreement between investors with heterogeneous beliefs about future stock payoffs (Doukas et. al. 2002, 2004), and that (2) poor quality of accounting information is an...

Addresses the suitability of some commonly used statistical software packages for analyzing the Community Tracking Study surveys of households and physicians, to help data users make informed choices about the software they use. Because of the complexity of the CTS survey designs, SUDAAN is the...

The results of the study of residential housing prices of homes located in the proximity of a large toxic chemical waste landfill in the Toledo, Ohio, area for 1986-1990, strongly suggest a distinct negative impact on sale prices for homes located within 2.6 miles of the existing site, and a...