Im 1. Kapitel: Einführung und institutionelle Grundlagen wurde dargestellt, dass die
gegenwärtige Diskussion im externen Rechnungswesen insbesondere dessen Rolle als …

We find that inventory productivity strongly predicts future stock returns among a sample of
publicly listed US retailers during the period from 1985 to 2010. A zero-cost portfolio …

Abstract Over-the-counter (OTC) stocks are far less liquid, disclose less information, and
exhibit lower institutional holdings than do listed stocks. We exploit these different market …

This paper investigates whether so-called anomalous returns predicted by accounting
numbers reflect normal returns for risk or abnormal returns. It does so via a model showing …

This study examines the effect of introducing CSR criteria into CEO incentive pay on
earnings management practices in French firms listed on the SBF 120 index. Based on …

We document that earnings acceleration, defined as the quarter-over-quarter change in
earnings growth, has significant explanatory power for future excess returns. These excess …

A significantly larger number of firms increase the expected rate of return on pension plan
assets (ERR) to make their reported earnings meet/exceed analyst forecasts than would be …

We empirically investigate the effects of accounting information quality, as measured by
accruals quality, on the use of government guaranteed loans, which we regard as a form of …

Research suggesting the existence of the accrual anomaly runs into the issue that risk
serves as a competing explanation for abnormal returns. This paper proposes a novel …

In this study, we seek to answer whether stock prices fully reflect information in accruals and
cash flows about future earnings. Following prior research, we perform Mishkin test and …