New paper “Accrual mispricing: Evidence from European sovereign debt crisis” (2019), by Tiago Gonçalves, Cristina Gaio and Carlos Lélis

Published by Research in International Business and Finance (2019), the paper “Accrual mispricing: Evidence from the European sovereign debt crisis” by researchers Tiago Gonçalves (ADVANCE/CSG, ISEG), Cristina Gaio (ADVANCE/CSG, ISEG) and Carlos Lélis (ISEG) examines the European market and the impacts of the financial crisis on this dynamic. From a sample of European state-owned enterprises during the period 2005-2016 and the seminal work by Sloan (1996) and Dechow, Sloan and Sweeney (1995), the analysis results suggest that transaction costs and risk Idiosyncratic barriers do not constitute a barrier to investors, as investor behavior tends to diversify during times of crisis.

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