Calmès, Christian; Cormier, Denis; Racicot, Francois; … - Départment des sciences administratives, Université … - 2010
We formulate well-known discretionary accruals models in an investment setting. Given that accruals basically consist of short-term investment, we introduce, (i) cash-flows, as a proxy for financial constraints and other financial markets imperfections, and (ii) Tobin’s q as a measure of...