English, Article edition: Financial distress, relative performance and takeovers as drivers for abnormal accruals Lingyan Zuo; Simon Hussain

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Bookmark: http://trove.nla.gov.au/version/50578
Physical Description
  • article
Language
  • English

Edition details

Title
  • Financial distress, relative performance and takeovers as drivers for abnormal accruals
Author
  • Lingyan Zuo
  • Simon Hussain
Physical Description
  • article
Notes
  • Our article examines abnormal accruals for a large sample of UK firms between 1994 and 2004, standardized so as to control for firm size, profitability, growth, information asymmetry and debt. We find that financial distress, proxied by a bankruptcy prediction model developed for UK firms (Charitou et al., 2004), and profitability relative both to cross-sectional and industry-specific norms, are important determinants of abnormal accruals: this is consistent with Peasnell et al. (2000) and Butler et al. (2004). Our results also confirm the suggestion by Jiraporn (2005) that abnormal accruals for acquired firms do not appear to display a particular 'sign'.
  • RePEc:taf:apfelt:v:4:y:2008:i:3:p:183-186
Language
  • English
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