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2016 | nr 1 (15) | 17--23
Tytuł artykułu

The Effect of Earnings Persistence, Predictability, Smoothness and Stability on the Returns-Earnings Relationship: Evidence from Warsaw Stock Exchange

Autorzy
Treść / Zawartość
Warianty tytułu
Wpływ stabilności i predykcyjności zysku księgowego na jego użyteczność dla prognozowania stopy zwrotu z akcji na przykładzie giełdy papierów wartościowych w Warszawie
Języki publikacji
EN
Abstrakty
EN
This paper examines whether and how earnings quality affects the role of earnings in a firm's valuation. It is basically focuses on the returns-earnings relationship taking into consideration four earnings attributes including persistence, predictability, smoothness and stability. For a large sample of Polish non-financial firms over the period 2009-2016, the study showed that earnings quality has a weak, but positive, influence on earnings response coefficient. JEL Classification: G11, G17 (original abstract)
Słowa kluczowe
Twórcy
  • Uniwersytet Warszawski
Bibliografia
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  • 9. Dechow P. M., Schrand C. M. (2004). Earnings Quality, (Charlotteville, VA: The Research Foundation of the CFA Institute).
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  • 20. Melumad N. D., Nissim D. (2009). Line-item analysis of earnings quality, Foundations and Trends in Accounting Vol. 3, Nos. 2-3, 87-221.
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  • 22. Nichols C., Wahlen, J. (2004). How do earnings numbers relate to stock returns? A review of classic accounting research with updated evidence. Accounting Horizons 18 (4), 263-286.
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  • 26. Perotti P., Wagenhofer A. (2014). Earnings Quality Measures and Excess Returns, Journal of Business Finance & Accounting 41(5) & (6), 545-571.
  • 27. Ryan S.G., Zarowin P.A. (2003). Why Has the Contemporaneous Linear Returs- Earnings Relation Declined? The Accounting Review 78, No.2, 523-553.
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  • 30. Watts R., Zimmerman J. (1986). Positive Accounting Theory, Prentice Hall, Englewood Cliffs, NJ.
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Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171455741

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