haku: @indexterm capital markets / yhteensä: 931
viite: 72 / 931
| Tekijä: | Francis, J. (et al.) |
| Otsikko: | The market pricing of accruals quality |
| Lehti: | Journal of Accounting & Economics
2005 : JUN, VOL 39:2, p. 295-327 |
| Asiasana: | Financial markets Capital markets Earnings Quality Pricing Information Risk |
| Kieli: | eng |
| Tiivistelmä: | This study investigates whether investors price accruals (here as: acrs.) quality (AQ), the proxy for the information risk associated with earnings. It is found that poorer AQ is associated with larger costs of debt and equity. This result is consistent across several alternative specifications of the AQ metric. In addition, the study also distinguishes btw. acrs. quality driven by economic fundamentals (innate AQ) vs. management choices (discretionary AQ). |
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