| Autor: |
Seyed Ehsan Hosseini, Seyed Abbas Hashemi |
| Jazyk: |
perština |
| Rok vydání: |
2019 |
| Předmět: |
|
| Zdroj: |
Journal of Asset Management and Financing, Vol 7, Iss 4, Pp 31-48 (2019) |
| Druh dokumentu: |
article |
| ISSN: |
2383-1189 |
| DOI: |
10.22108/amf.2019.114976.1366 |
| Popis: |
This study examines whether sophisticated investors implement traditional accruals strategy and percent accruals strategy. Moreover we compare the amount of excess return and risk adjusted return of accruals strategy sophisticated investors and of those who are neutral to accruals strategy. For this purpose, we collect quarterly data of 950 observation of investment companies listed in Tehran Stock Exchange for the years 2011-2018. The hypotheses were tested using one sample t test. The results show that sophisticated investors do not implement accruals strategy. But implementation of accruals strategy by a subsample of sophisticated investors was verified. The results show traditional accruals strategy sophisticated investors do not earn excess return and risk adjusted return in compare with those who are neutral to traditional accruals strategy regardless of return measures. But there is some evidence that percent accruals strategy sophisticated investors earn excess return and risk adjusted return in compare with those who are neutral to percent accruals strategy. |
| Databáze: |
Directory of Open Access Journals |
| Externí odkaz: |
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