Disentangling the Accruals Mispricing in Europe: Is It an Industry Effect?

Elisabetta Basilico () and Tommi Johnsen ()
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Elisabetta Basilico: Dept. of Management, Università Ca' Foscari Venice
Tommi Johnsen: Reiman School of Finance, University of Denver

No 5, Working Papers from Venice School of Management - Department of Management, Università Ca' Foscari Venezia

Abstract: This article examines the pervasiveness of the accruals mispricings in nine industries within a benchmark of seventeen European countries. We find that the accruals mispricing post the introduction of International Financial Reporting Standards is present in an average of two to six of the nine industries analyzed, depending on the type of ratio used as a proxy of the accruals mispricing.

Keywords: Accruals Mispricing; Industry; International Financial Reporting Standards; Stock Selection; Europe (search for similar items in EconPapers)
JEL-codes: G12 G15 (search for similar items in EconPapers)
Pages: 35 pages
Date: 2014-04
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