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A Market-Based Evaluation of Discretionary-Accrual Models

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Author Info
Guay, W.
Kothari, S.P.
Watts, R.L.

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Abstract

Considerable research in accounting focuses on the role of accruals in capital market valuation and in contracting. The research shows accruals enable managers to improve on cash flows as a mesure of firm performance. However, since accruals provide managers with a means of managing reportedearnings, previous research also documents evidence of opportunistic accrual management. Opportunistic accruals are estimated using discretionary-accrual models that seek to separate earnings into discretionary accruals and nondiscretionary earnings.

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Publisher Info
Paper provided by Rochester, Business - Financial Research and Policy Studies in its series Papers with number 96-01.

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Length: 40 pages
Date of creation: 1996
Date of revision:
Handle: RePEc:fth:robufr:96-01

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Postal: UNIVERSITY OF ROCHESTER, WILLIAM E. SIMON GRADUATE SCHOOL OF BUSINESS ADMINISTRATION, Bradley Policy Research Center, ROCHESTER NEW YORK 14627 U.S.A.
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Web page: http://www.simon.rochester.edu/
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Related research
Keywords: CAPITAL MARKET CONTRACTS ACCOUNTING MANAGERS

Find related papers by JEL classification:
G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing

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  1. Jeffrey Gramlich & Ole Sørensen, 2004. "Voluntary management earnings forecasts and discretionary accruals: evidence from Danish IPOs," European Accounting Review, Taylor and Francis Journals, vol. 13(2), pages 235-259, July. [Downloadable!] (restricted)
  2. W. M. McInnes, 2002. "An agency perspective on the accounting costs used in various roles in the regulation of a state-owned natural monopoly: The British Gas Corporation 1972-86," Accounting, Business and Financial History, Taylor and Francis Journals, vol. 12(3), pages 387-418, November. [Downloadable!] (restricted)
  3. Tom Van Caneghem, 2004. "The impact of audit quality on earnings rounding-up behaviour: some UK evidence," European Accounting Review, Taylor and Francis Journals, vol. 13(4), pages 771-786, December. [Downloadable!] (restricted)
  4. Takashi Obinata, 2002. "Concept and Relevance of Income," CIRJE F-Series CIRJE-F-171, CIRJE, Faculty of Economics, University of Tokyo. [Downloadable!]
  5. Georgios Papanastasopoulos & Dimitrios Thomakos & Tao Wang, 2007. "Information in Balance Sheets about Future Stock Returns: Evidence from Net Operating Assets," Working Papers 0009, University of Peloponnese, Department of Economics. [Downloadable!]
  6. José António Moreira & Peter F. Pope, 2006. "Unequal Impact of Conservatism on Accrual Measures and Drivers: Implications for the Specification of Accrual Models," CETE Discussion Papers 0604, Universidade do Porto, Faculdade de Economia do Porto. [Downloadable!]
  7. Pornsit Jiraporn, 2005. "An empirical analysis of corporate takeover defences and earnings management: evidence from the US," Applied Financial Economics, Taylor and Francis Journals, vol. 15(5), pages 293-303, March. [Downloadable!] (restricted)
  8. Juan Monterrey & Amparo Sánchez-Segura, 2006. "Las características socioeconómicas como incentivos para la información financiera: evidencia empírica española," Investigaciones Economicas, Fundación SEPI, vol. 30(3), pages 611-634, September. [Downloadable!]
  9. José A. C. Moreira & Peter F. Pope, 2007. "Piecewise Linear Accrual Models: do they really control for the asymmetric recognition of gains and losses?," CETE Discussion Papers 0703, Universidade do Porto, Faculdade de Economia do Porto. [Downloadable!]
  10. José J. Alcarria Jaime & Belén Gill de Albornoz Noguer, 2004. "Specification and power of cross-sectional abnormal working capital accruals models in the Spanish context," European Accounting Review, Taylor and Francis Journals, vol. 13(1), pages 73-104, May. [Downloadable!] (restricted)
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