Finnish earnings response coefficients: the information content of losses
| Autor: | Jukka Perttunen, Teppo Martikainen, Juha-Pekka Kallunki |
|---|---|
| Rok vydání: | 1997 |
| Předmět: |
Earnings response coefficient
Economics and Econometrics Earnings yield Earnings Earnings per share business.industry education Economics Econometrics and Finance (miscellaneous) Accounting Post-earnings-announcement drift Economics Business Management and Accounting (miscellaneous) Accounting earnings Business and International Management business health care economics and organizations Finance Stock (geology) |
| Zdroj: | European Accounting Review. 6:69-81 |
| ISSN: | 1468-4497 0963-8180 |
| DOI: | 10.1080/096381897336872 |
| Popis: | This paper provides new evidence on the information content of losses in the relation between stock returns and annual accounting earnings. Consistent with earlier US evidence, accounting losses are not significantly related to stock returns in Finland. Moreover, it is shown that the different methods used to measure earnings in Finland affect the frequency of losses, substantially altering the estimated return-earnings relation. The results suggest that earnings adjusted in accordance with the recommendations of the Finnish Committee for Corporate Analysis are not more useful than the unadjusted reported earnings in explaining stock returns in Finland. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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