For helpful comments, we thank Andrew Ang, Sreedhar Bharath, Long Chen, Mozaffar Khan (discussant), Reuven Lehavy, Paolo Pasquariello, Amiyatosh Purnanandam, Joanna Wu, and seminar participants at Emory University, the 18th Annual Conference on Financial Economics and Accounting at New York University, and CRSP Forum 2008. We especially thank Douglas Skinner (the Editor) and an anonymous referee for helpful advice that has greatly helped improve the paper. Lu Zhang acknowledges the financial support provided by the NTT Program of Asian Finance and Economics at the Stephen M. Ross School of Business at the University of Michigan. This manuscript supersedes our working papers previously circulated as “The accrual anomaly: Exploring the optimal investment hypothesis” and “Understanding the accrual anomaly.” All remaining errors are our own.
The q-Theory Approach to Understanding the Accrual Anomaly
Article first published online: 19 AUG 2009
©, University of Chicago on behalf of the Accounting Research Center, 2009
Journal of Accounting Research
Volume 48, Issue 1, pages 177–223, March 2010
How to Cite
WU, J., ZHANG, L. and ZHANG, X. F. (2010), The q-Theory Approach to Understanding the Accrual Anomaly. Journal of Accounting Research, 48: 177–223. doi: 10.1111/j.1475-679X.2009.00353.x
- Issue published online: 15 JAN 2010
- Article first published online: 19 AUG 2009
- Received 28 May 2008; accepted 6 August 2009
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