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In addition, although both past and future growth are negatively associated with future returns, the association is more pronounced for past growth when volatility is lower, but for future growth when volatility is higher. The study also shows that the association between the future growth component and future returns reverses in the long run, whereas the association between past growth and future returns does not. <\/jats:p><jats:p> This paper was accepted by Shivaram Rajgopal, accounting. <\/jats:p>","DOI":"10.1287\/mnsc.2020.3676","type":"journal-article","created":{"date-parts":[[2021,3,1]],"date-time":"2021-03-01T15:44:35Z","timestamp":1614613475000},"page":"3921-3942","source":"Crossref","is-referenced-by-count":3,"title":["Asymmetric Returns and the Economic Content of Accruals and Investment"],"prefix":"10.1287","volume":"67","author":[{"ORCID":"https:\/\/2.zoppoz.workers.dev:443\/https\/orcid.org\/0000-0002-3326-9263","authenticated-orcid":false,"given":"Luca","family":"Del Viva","sequence":"first","affiliation":[{"name":"Department of Economics, Finance, and Accounting, ESADE Business School, Ramon Lull University, 08172 Barcelona, Spain;"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"S. 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