Accrual Anomaly in the Brazilian Capital Market

This paper analyzes the phenomenon known as accrual anomaly in Brazil. In particular, we examine two hypotheses: (a) that the earnings expectation included in the stock price fails to reflect the difference in persistence of the earnings components (accruals and cash flows); and (b) that the con...

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Bibliographic Details
Main Authors: César Medeiros Cupertino, Antonio Lopo Martinez, Newton Carneiro Affonso da Costa Jr.
Format: Article
Published: Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD) 2012-10-01
Series:BAR: Brazilian Administration Review
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