... to estimate the econometric models. For the robustness analyses, this paper included an alternative measure of the dependent variable (accrual-based versus real activity manipulation). They applied the dynamic dimension of the data set using the generalized method of moments ( GMM ) to control for endogeneity...

...Hai Wu; Neil Fargher Recent research examines the implications of components of accruals for future profitability. Because the persistence of earnings varies with the level of company profitability, we expect differences between profitable and loss‐making companies in the association between...

...Hardjo Koerniadi; Alireza Tourani‐Rad This paper investigates the presence of the accrual and the cash flow anomalies in the New Zealand stock market for the period of 1987 to 2003. We observe insignificant evidence of the accrual anomaly but find strong evidence of the presence of the cash flow...

...Tony Kang Accounting accruals are at the heart of most accounting systems. A basic premise of accrual accounting is that it provides a more timely and relevant performance measure than cash flows through a better matching of revenues and expenses. While some prior studies suggest that managers use...