In this dissertation, I examine the source of some of the anomalous capital market outcomes that have been documented for firms with high accruals. Chapter 2 develops and implements a methodology that decomposes a firm's discretionary accruals into a firm-specific and an industry-specific component. I use this decomposition to investigate which component drives the subsequent negative returns associated with firms with high discretionary accruals. My results suggest that these abnormal returns are driven by the firm-specific component of discretionary accruals.
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- Partial requirement for: Ph. D., Arizona State University, 2011Note typethesis
- Includes bibliographical references (p. 82-84)Note typebibliography
- Field of study: Business administration