HOU, XUE, & ZHANG: Replication Controversies in Finance & Accounting

[NOTE: This entry is based on the article “Replicating Anomalies” (SSRN, updated in June 2017, Finance academics have started to take replication studies seriously. As hundreds of factors have been documented in recent decades, the concern over p-hacking has become…

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How Well Do Anomalies in Finance and Accounting Replicate?

[From the abstract of a recent NBER working paper by Kewei Hou, Chen Xue, and Lu Zhang entitled “Replicating Anomalies”] “The anomalies literature is infested with widespread p-hacking. We replicate the entire anomalies literature in finance and accounting by compiling a…

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