BATCHING PRINCIPLE OF RATING POINT ACCRUAL

The principle of point-free continuity

In the setting of constructive point-free topology, we introduce a notion of continuous operation between point-free topologies and the corresponding principle of point-free continuity. An operation between points of point-free topologies is continuous if it is induced by a relation between the bases of the topologies; this gives a rigorous condition for Brouwer’s continuity principle to hold. ...

Inter-temporal Accrual Persistence and Accrual Anomaly

Prior accounting research argues that diminishing marginal returns on new investments drive lower persistence of accruals relative to cash flows. Macroeconomic research documents that marginal profitability is counter-cyclical, which implies that diminishing marginal returns on new investments are more pronounced during periods of expansions than recessions. Linking the cyclicality of diminishi...

Two Accrual Anomalies: A Dichotomy of Accrual-Return Relations∗

Motivated by the findings that the aggregate (discretionary) accruals positively predicts oneyear-ahead firm-level stock returns and that there is a considerable amount of co-movement in firm-level (discretionary) accruals, we decompose firm-level (discretionary) accruals into a market-wide component and a firm-specific component. We document robust evidence that the two orthogonal (discretiona...

(a) Batching Interval = 2min (b) Batching Interval = 5min

Working Paper Proximal Point Mappings and Constraint Aggregation Principle Proximal Point Mappings and Constraint Aggregation Principle Proximal Point Mappings and Constraint Aggregation Principle

In the present paper we study a regularization techniques for the constraint aggregation method for solving large scale convex optimization problems. Idea of the constraint aggregation is in replacing the set of original constraints by a single one which is a certain linear combination of them. This makes the resulting relaxed problemmuch easier to solve. However, previous algorithms that used ...