Abstract

http://ssrn.com/abstract=1762124
 
 

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Accounting Anomalies and Fundamental Analysis: A Review of Recent Research Advances


Scott A. Richardson


London Business School; AQR Capital Management, LLC

Peter D. Wysocki


University of Miami - School of Business Administration

A. Irem Tuna


London Business School

September 15, 2010


Abstract:     
We survey recent research in accounting anomalies and fundamental analysis. We use forecasting of future earnings and returns as our organizing framework and suggest a roadmap for research aiming to document the forecasting benefits of accounting information. We combine this with opinions from the academic and practitioner communities to critically evaluate key clusters of papers about accounting anomalies and fundamental analysis disseminated over the last decade. Finally, we provide a new analysis on how an ex ante and ex post treatment of risk and transaction costs affects the accrual and PEAD anomalies, and offer suggestions for future research.

Number of Pages in PDF File: 142

Keywords: Accruals, Anomalies, Forecasting, Fundamental Analysis, Market

JEL Classification: G12, G14, M41

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Date posted: February 16, 2011  

Suggested Citation

Richardson, Scott A. and Wysocki, Peter D. and Tuna, A. Irem, Accounting Anomalies and Fundamental Analysis: A Review of Recent Research Advances (September 15, 2010). Available at SSRN: http://ssrn.com/abstract=1762124 or http://dx.doi.org/10.2139/ssrn.1762124

Contact Information

Scott Anthony Richardson (Contact Author)
London Business School ( email )
Sussex Place
Regent's Park
London, London NW1 4SA
United Kingdom
AQR Capital Management, LLC ( email )
Greenwich, CT
United States
Peter D. Wysocki
University of Miami - School of Business Administration ( email )
Department of Accounting - K/E 308
5250 University Drive
Coral Gables, FL 33146-6531
United States
305-284-8618 (Phone)
Ayse Irem Tuna
London Business School ( email )
Sussex Place
Regent's Park
London, London NW1 4SA
United Kingdom
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