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作为应计制会计的产物,应计项目传递了重要的会计信息,但是"应计异象"却是资本市场对应计项目误读的表现;所以自Solan1996年提出以来,应计异象就一直得到国内外理论界的巨大关注,形成了大量的文献;从研究设计、理论解释和现实效应三个方面对国内外关于应计异象的最新研究做了全面和系统归纳与评述,希望能够加深对会计信息、会计制度环境、投资者行为与资本市场的理解。
Abstract:①Sloan,R.G.,“Do Stock Prices Fully Reflect Information in Accruals and Cash Flows about Future Earnings?”The Accounting Review,1996,71:289–315.
②Teoh,S.H.and Y.Zhang,“Data truncation bias,loss firms,and accounting anomalies”,Working Paper,2009
③Livnat,J.and M.Santicchia,”Cash flows,accruals and future returns”,Financial Analysts Journal,2006,62(4):48-61.
④Richardson,S.A.,Sloan,R.G.,Soliman,M.T.,&Tuna,I.,”Accrual reliability,earnings persistence,and stock prices.”,Journal of Accounting and Economics,2005,39(3):437–485.
⑤Hirshleifer,D.A.,K.Hou,S.Teoh,and Y.Zhang.,”Do investors overvalue firms with bloated balance sheets?”,Journal of Accounting and Economics,2004,38:297–331
⑥Richardson,S.A.,R.G.Sloan and I.Tuna.”Balance sheet information and future stock returns”,Working Paper,2006
⑦Hafzalla,N.,R.Lundholm,and E.Van Winkle,”Percent accruals”,Accounting Review,2011,86(1):209-236
⑧Bradshaw,M.T.,Richardson,S.A.,&Sloan,R.G.,”Do analysts and auditors use information in accruals?”Journal of Accounting Research,2001,39(1):45–74.
⑨Xu,W.,“Do management earnings forecasts incorporate information in accruals?”Journal of Accounting&Economics,2010,49:227–246
⑩Shi,Linna,Huai Zhang,”Can the earnings fixation hypothesis explain the accrual anomaly?”,Review of accounting Studies,2011,17(1):1-21
Fatma Boubakri,”The Relationship between Accruals Quality,Earnings Persistence and Accruals Anomaly in the Canadian Context”,International Journal of Economics and Fi-nance,2012,4(6):51-62
Mashruwala,C.A.,Rajgopal,S.,&Shevlin,T.J,”Why is the accrual anomaly not arbitraged away?The role of idiosyncratic risk and transaction costs.”,Journal of Accounting and Economics,2006,42(1):3–33
Lev,B.,&Nissim,D.,”The persistence of the accruals anomaly”,Contemporary Accounting Research,2006,23(1):193–226.
Li,Xi;Sullivan,Rodney N,”The Limits to Arbitrage Revisited:The Accrual and Asset Growth Anomalies”,.Financial Analysts Journal,2011,67(4):50-66.
Khan,M.,”Are accruals mispriced:evidence from tests of an intertemporal capital asset pricing model”,Journal of Accounting and Economics,2008,45(1):55-77.
Wu,J.,L.Zhang,X.Zhang,“The q-theory approach to understanding the accrual nomaly”,Accounting Res,2009,48(1):177–223.
Li,D.,L.Zhang.,”Does q-theory with investment frictions explain anomalies in the cross section of returns?”,Financial Economy,2010,98(2):297–314.
Hirshleifer,D.A.,K.Hou,and S.H.Teoh,”The accrual anomaly:risk or mispricing?”Management Science,2012,58(2):320-335
Fairfield,P.M.,J.S.Whisenant,and T.L.Yohn,”Accrued earnings and growth:Implications for future profitability and market mispricing”,Accounting Review,2003,78(1):353-371.
Zhang,X.F.,”Accruals,investment,and the accrual anomaly”,The Accounting Review,2007,82(5):1333–1363.
Dechow,P.M.,S.A.Richardson,and R.G.Sloan,“The persistence and pricing of the cash component of earnings”,Journal of Accounting Research,2008,46(3):537-566.
Teoh,S.H.,Wong,T.J.,”Why new issues and high-accrual firms underperform:the role of analysts’credulity”,The Review of Financial Studies,2002,15:869–900.
Richardson,S.A.,”Earnings quality and short sellers”,Accounting Horizons,2003,17:49–61
Gong,G.,H.Louis,A.X.Sun.,”Earnings management and firm performance following open-market repurchases”,J.Finance,2008,63(2):947–986.
Lev,B.,Nissim,D.,“The persistence of the accruals anomaly”.Contemporary Accounting Research,2006,23:193–226.
Ali,A.,Chen,X.,Tong,Y.,Tong,Y.,”Do mutua funds profit from the accruals anomaly?”,Journal of Accounting Research,2008,46:1–26.
Green,J.,Hand,J.R.M.,&Soliman,M.T,,”Going,going,gone?The apparent demise of the accruals anomaly”,Management Science,2011,57(5):797–816.
Robert H.Battalio,Alina Lerman,Joshua Livnat,Richard R.Mendenhall,”Who,if anyone,reacts to accrual information?”,Journal of Accounting and Economics,2012,53:205–224
Pincus,M.,Rajgopal,S.and M.Venkatachalam,M.,”The accrual anomaly:International evidence”,Accounting Review,2007,82(1):169-203.
Chan,Ann L-C,Lee Eward,Lin Stephen,“The impact of accounting information quality on the mispricing of accruals:The case of FRS3 in the UK”,J.Account.Public Policy,2009,28:189–206
Bhojraj,S.,P.Sengupta,and S.Zhang.,”Restructuring charges,regulatory changes and the accruals anomaly”,Working paper,2009
Sami Keskek,Linda A.Myers,Thomas C.Omer,Nathan Y.Sharp,“Exploring the Accrual-Related Optimism in Management Earnings Forecasts”,Working Paper,2011
姜国华,李远鹏,牛建军:《我国会计准则与国际会计准则盈余报告差异及经济后果的研究》,《会计研究》,2006年第9期。
张国清,赵景文:《资产负债项目可靠性、盈余持续性及其市场反应》,《会计研究》,2008年第3期。
宋云玲,李志文:《A股公司的应计异象》,《管理世界》,2009年第8期。
饶育蕾,王建新,丁燕:《基于投资者有限注意的“应计异象”研究》,《会计研究》,2012年第5期。
刘斌,张健:《机构持股、信息质量与应计异象》,《审计与经济研究》,2012年第6期。
姜英兵,张爽:《新会计准则与应计异象》,《经济管理》,2010年第11期。
Yuanpeng Li,Jianjun Niu,Ran Zhang,James A.Largay,”Earingings management and the Accural Anomaly:Evidence from China”,Journal of International Financial Management&Accounting,2010,22(3):205-245
樊行健,刘浩,郭文博:《中国资本市场应计异象问题研究—基于上市公司成长性的全新视角》,《金融研究》,2009年第5期。
林树,张智飞:《会计应计异象与盈余公告后漂移异象》,《山西财经大学学报》,2011年第5期。
Chu,J.,“Does growth subsume the implications of accruals for future performance?”,University of California,Berkeley,2012
基本信息:
DOI:10.15981/j.cnki.dongyueluncong.2013.12.036
中图分类号:F830.42
引用信息:
[1]刘春玉.“应计异象”的研究设计、理论解释与现实效应研究的新进展[J].东岳论丛,2013,34(12):165-169.DOI:10.15981/j.cnki.dongyueluncong.2013.12.036.
基金信息:
山东省社科规划重点项目09BJGJ36; 山东大学自主创新基金项目IFW10023
2013-12-01
2013-12-01
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