کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5097898 | 1478621 | 2007 | 16 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The Earnings-Returns Relation Under The Presence Of Non-Linearity And The “Prices Leading Earnings” Assumption: The Greek Case.
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: The Earnings-Returns Relation Under The Presence Of Non-Linearity And The “Prices Leading Earnings” Assumption: The Greek Case. The Earnings-Returns Relation Under The Presence Of Non-Linearity And The “Prices Leading Earnings” Assumption: The Greek Case.](/preview/png/5097898.png)
چکیده انگلیسی
A large body of accounting research in the past has documented the existence of non linearity in the return-earnings relation and also the fact that stock prices lead earnings which means that information reflected in stock prices is more value relevant than the past series of earnings. The aim of this paper is to examine the “prices leading earnings” assumption, as well as the existence of non-linearity on the earnings-return relation in the Hellenic capital market, as means of reducing the downward bias in ERCs. For this reason we employed regression tests using leading returns and earnings over an 11 year period (1994-2004) firstly in a linear form and secondly using a non-linear quadratic form. Results suggested that prices do lead earnings in the Greek capital market and non-linearity is present in the return-earnings relation, but the most interesting result is that the simultaneous incorporation of non-linearity and leading period returns in the return-earnings regression models yields higher and more significant earnings response coefficients.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The Journal of Economic Asymmetries - Volume 4, Issue 2, December 2007, Pages 119-134
Journal: The Journal of Economic Asymmetries - Volume 4, Issue 2, December 2007, Pages 119-134
نویسندگان
Panagiotis E. Dimitropoulos, Dimitrios Asteriou,