Persistence of Accrual Components and Future Stock Returns

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Assadi Gholamhossein; ZANDIYEH MOSTAFA; Gholami hassankiadeh Farid

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Journal Paper

Paper Information

Journal: Journal of Empirical Research in Accounting Year:2019 | Volume:8 | Issue:2 (30) Page(s): 1-20

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Information Journal Paper

Title

Persistence of Accrual Components and Future Stock Returns

Author(s)

Assadi Gholamhossein | ZANDIYEH MOSTAFA | Gholami hassankiadeh Farid | Issue Writer Certificate

Keywords

earnings persistenceQ2

accruals related to growthQ1

accruals related to temporary fluctuations in working capitalQ1

accruals estimation errorsQ2

future stock returnQ2

Abstract

This research is aimed to identify factors misleading investors in determining future profitability, focusing on good accruals and accruals estimation error. This study is an applied and quantitative research. Also, because of using past information, it is considered asex-post facto research. The sample consists of 78 firms listed in Tehran Stock Exchange during the years 2004 to 2013 and the hypotheses is tested using regression coefficient analysis. Findings show that the cash component of profit is more persistent than all accrual components and also accruals related to growth is the most persistent component of accruals. In addition, the findings show that cash flow and accruals related to growth have a positive relationship with future returns, and accruals related to temporary fluctuations and accruals estimation errors have a negative relationship with the mentioned variable. According to the results, accruals related to temporary fluctuations and accruals estimation errors lead to investors misleading, due to their lower persistency.

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APA: Copy

Assadi, Gholamhossein, ZANDIYEH, MOSTAFA, & Gholami hassankiadeh, Farid. (2019). Persistence of Accrual Components and Future Stock Returns. JOURNAL OF EMPIRICAL RESEARCH IN ACCOUNTING, 8(2 (30) ), 1-20. SID. https://sid.ir/paper/241080/en

Vancouver: Copy

Assadi Gholamhossein, ZANDIYEH MOSTAFA, Gholami hassankiadeh Farid. Persistence of Accrual Components and Future Stock Returns. JOURNAL OF EMPIRICAL RESEARCH IN ACCOUNTING[Internet]. 2019;8(2 (30) ):1-20. Available from: https://sid.ir/paper/241080/en

IEEE: Copy

Gholamhossein Assadi, MOSTAFA ZANDIYEH, and Farid Gholami hassankiadeh, “Persistence of Accrual Components and Future Stock Returns,” JOURNAL OF EMPIRICAL RESEARCH IN ACCOUNTING, vol. 8, no. 2 (30) , pp. 1–20, 2019, [Online]. Available: https://sid.ir/paper/241080/en

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