Motivated by the unique nature of family firms and the puzzling persistence of the accrual anomaly worldwide, we study the presence and economic significance of the accrual anomaly separately for family and non-family firms using a sample of 27,117 observations from 34 capital markets. At an...

Using the percent accrual measure proposed by Hazfalla et al. (2011), we empirically evaluate the predictions of earnings fixation hypothesis and limits to arbitrage hypothesis on the accrual anomaly in the U.K. stock market. We show a strong negative relation of percent accruals with future...