Simple question, what universally accepted financial ratios involve kurtosis? I'm not looking for a made up one. I want something that academics may have discussed.
Accounting ratios inherently lack a first moment and are skewed though of course that cannot be measured as a moment. There may be some price ratios that are not skewed, but there shouldn't be any accounting ratios that are not skewed because of the inherent correlation among accounting data.
Go to section six of the paper at https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2828744
It discusses the distribution of accounting ratios.