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政大典藏 > College of Commerce > Department of Accounting > Periodical Articles > Item 140.119/64030

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/64030

Title:	The impact of accounting information quality on the mispricing of accruals: The case of FRS3 in the UK
Authors:	詹凌菁;Edward Lee;Stephen Lin Chan, Ann L-C;Lee, Edward;Lin, Stephen
Contributors:	會計系
Keywords:	Accrual anomaly;Accrual quality;FRS3
Date:	2009-06
Issue Date:	2014-02-19 16:54:21 (UTC+8)
Abstract:	We exploit a unique setting of accounting regulation change to examine how accounting information quality affects the well-documented accrual anomaly. We show a significant reduction in the negative return predictability of accruals among UK companies with poorer accounting information quality following the introduction of Financial Reporting Standard No. 3: Reporting Financial Performance (FRS3). While the functional fixation hypothesis attributes the mispricing of accruals to the judgemental error of end-users of information, our findings suggest that the supply side of information also plays a crucial role. Our results provide evidence that regulatory interventions seeking to improve accounting information quality can reduce the mispricing of securities in the capital market.
Relation:	Journal of Accounting and Public Policy, 28(3), 189-206
Source URI:	http://dx.doi.org/10.1016/j.jaccpubpol.2009.04.002
Data Type:	article
DOI link:	http://dx.doi.org/10.1016/j.jaccpubpol.2009.04.002
DOI:	10.1016/j.jaccpubpol.2009.04.002
Appears in Collections:	[Department of Accounting] Periodical Articles

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