THE MISPRICING OF ABNORMAL ACCRUALS

By Hong Xie. 2001

1,162 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/7f230d3e339d06a9e9172ff33dd91959e5b59fa7

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Citations in the corpus

Why is the Accrual Anomaly not Arbitraged Away? The Role of Idiosyncratic Risk and Transaction Costs (2006, neutral): “Others have investigated whether the accruals anomaly: (i) is caused by management manipulation (e.g., Xie, 2001; Chan et al., 2006); (ii) explains long-run under-performance of firms after they go public (Teoh et al., 1998a) or issue secondary equity offerings (Teoh et al., 1998b; Rangan, 1998;…”
The Predictive Value of Expenses Excluded from Pro Forma Earnings (2002, neutral): “See Dechow (1994), Finger (1994), Sloan (1996), Richardson et al. (2002), Dechow et al. (1998), Hribar (2000), Chan et al. (2001), Xie (2001), Liu and Thomas (2000), Fairfield et al. (2001), Barth et al. (2001), Thomas and Zhang (2001), and Liu et al. (2002).”
Earnings, Cash Flows, and Ex Post Intrinsic Value of Equity (2007, background): “Since the anomalous pricing of the accrual and cash flow components of earnings does not persist beyond two years (Sloan 1996; Xie 2001), the intrinsic value measure—unlike current returns or stock price—are unlikely to be biased by market mispricing (see Aboody et al. 2002).”
How far can we trust earnings numbers? What research tells us about earnings management (2013, background): “Xie (2001) seems to have been the first article to respond to his challenge.”
The Adoption of IFRS 3: The Effects of Managerial Discretion and Stock Market Reactions (2011, background): “…apply to accounting information; Libby et al. (2002) review studies that document reasons as to why investors’ use of accounting information is biased and the finance and accounting literature reports evidence of apparent market mispricing of accruals (Sloan, 1996; Xie, 2001; Dechow et al., 2008).”
The Differential Persistence of Accruals and Cash Flows for Future Operating Income versus Future Profitability (2003, methodology): “Prior research( Xie, 2001 ) h as examined Jones (1991) model discretionary accruals and has documented that the lower persistence of accruals relative to cash flows for one-year-ahead profitability is driven by discretionary accruals.”
Client Importance, Nonaudit Services, and Abnormal Accruals (2003, background): “6 * Compustat item 17, following Xie [2001]) that could be potentially nondiscretionary.”
Delisting Returns and Their Effect on Accounting-Based Market Anomalies (2007, neutral): “Although Sloan (1996) includes only NYSE and AMEX firms, other papers include NASDAQ firms (Xie, 2001; Desai et al., 2004).”
Do Investors Respond to Analysts' Forecast Revisions as if Forecast Accuracy Is All That Matters? (2003, methodology): “For example, prior studies show that investors appear to undervalue cash flows, and to overvalue accruals (Sloan 1996) and abnormal accruals (Xie 2001), relative to their ability to predict earnings.”
Delayed Security Price Adjustments to Financial Analysts' Forecasts of Annual Earnings (2001, neutral): “Recent studies have used Mishkin's (1983) framework to examine the market's weighting of accounting earnings variables (Sloan 1996; Barth and Hutton 2000; Bradshaw et al. 2001; Xie 2001).”
Value-Glamour and Accruals Mispricing: One Anomaly or Two? (2004, background): “2001), managerial manipulation of accruals (Xie 2001) or accrual manipulation around IPOs and SEOs (Teoh, Welch and Wong 1998a, 1998b).”
Do Analysts and Auditors Use Information in Accruals (2001, methodology): “However, there is no evidence that auditors’ modify their opinions to alert investors to the increased incidence of GAAP violations associated with high accruals on a timely basis. Table 8 examines the possibility that auditor changes signal the greater likelihood of GAAP violations associated with ”