We study the effect of growth in firms' balance sheets on stock returns by decomposing asset
growth into two components, one that captures real investment growth and one that captures …

Purpose The purpose of this paper is to investigate, in an Egyptian context, the external
auditor type (Big 4 vs local) implications on reporting quality proxied by discretionary …

Recent studies challenge the standard model risk-return trade-off by showing inverse
predictive power of firm-specific left-tail risk for future returns (ie, left-tail momentum). In this …

This work uses long-term operating accruals, rather than current, as an accounting measure
to identify major anomalies. Past and abundant accounting and financial literature …

We investigate the extent to which a parsimonious measure of maximum likely loss that
captures the tail risk of returns—known as value-at-risk (VaR)—explains the relationship …

Numerous studies claim that the accrual anomaly in the US stock market is due mostly to
temporary accounting distortions arising from accrual accounting. We examine the validity of …

This study investigates stock market valuations for bargain purchase gains (BPGs) in the
context of International Financial Reporting Standards (IFRS) between 2005 and 2014 …

We show that firms with higher NOA (net operating assets) subsequently experience lower
stock returns in at least nine out of sixteen European countries, consistent with the US …

We examine the mispricing versus rational explanation of the accrual anomaly for UK listed
firms by focusing on the interaction between accruals and equity financing activities …

Enterprises do not exist independently of the external environment, so uncertainty affects
their earnings volatility and exacerbates the information asymmetry between internal and …