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Book Rate-Of-Return And Prediction Of Earnings Changes - An Empirical-Investigation

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Cited by:

  1. Olga Fullana & Juan M. Nave & David Toscano, 2018. "The implied equity duration when discounting and forecasting parameters are industry specific," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 58(S1), pages 179-209, November.
  2. Frank D. Hodge & Roger D. Martin & Jamie H. Pratt, 2006. "Audit Qualifications of Income†Decreasing Accounting Choices," Contemporary Accounting Research, John Wiley & Sons, vol. 23(2), pages 369-394, June.
  3. Yan Jin, 2017. "DuPont Analysis, Earnings Persistence, and Return on Equity: Evidence from Mandatory IFRS Adoption in Canada," Accounting Perspectives, John Wiley & Sons, vol. 16(3), pages 205-235, September.
  4. van Lent, L.A.G.M., 1999. "Incomplete contracting theory in empirical accounting research," Other publications TiSEM 088f797d-9fa4-4081-98f4-1, Tilburg University, School of Economics and Management.
  5. Anthony Flint & Andrew Tan & Gary Tian, 2010. "Predicting Future Earnings Growth: A Test Of The Dividend Payout Ratio In The Australian Market," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 4(2), pages 43-58.
  6. Anna Agapova & Jagadison K. Aier & Zhanel DeVides, 2022. "Earnings patterns and managerial guidance," Review of Quantitative Finance and Accounting, Springer, vol. 59(3), pages 1173-1213, October.
  7. Lyle, Matthew R. & Wang, Charles C.Y., 2015. "The cross section of expected holding period returns and their dynamics: A present value approach," Journal of Financial Economics, Elsevier, vol. 116(3), pages 505-525.
  8. Wong, Kit Pong & Yi, Long, 2013. "Irreversibility, mean reversion, and investment timing," Economic Modelling, Elsevier, vol. 30(C), pages 770-775.
  9. Feenstra, Dick W. & Huijgen, Carel A. & Wang, Hua, 2000. "An evaluation of the accounting rate of return : evidence for Dutch quoted firms," Research Report 00E55, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
  10. Stina Skogsvik & Kenth Skogsvik, 2010. "Accounting‐Based Probabilistic Prediction of ROE, the Residual Income Valuation Model and the Assessment of Mispricing in the Swedish Stock Market," Abacus, Accounting Foundation, University of Sydney, vol. 46(4), pages 387-418, December.
  11. Cai, Jun & Loughran, Tim, 1998. "The performance of Japanese seasoned equity offerings, 1971-1992," Pacific-Basin Finance Journal, Elsevier, vol. 6(5), pages 395-425, November.
  12. D. E. Allen & H. M. Salim, 2005. "Forecasting profitability and earnings: a study of the UK market (1982-2000)," Applied Economics, Taylor & Francis Journals, vol. 37(17), pages 2009-2018.
  13. Sudipto Sarkar, 2014. "Valuation of tax loss carryforwards," Review of Quantitative Finance and Accounting, Springer, vol. 43(4), pages 803-828, November.
  14. James A. Ohlson, 1988. "Discussion of “A comparative examination of the time†series properties and predictive ability of annual historical cost and general price level adjusted earningsâ€," Contemporary Accounting Research, John Wiley & Sons, vol. 4(2), pages 513-514, March.
  15. Oz, Ibrahim Onur & Yelkenci, Tezer & Meral, Gorkem, 2021. "The role of earnings components and machine learning on the revelation of deteriorating firm performance," International Review of Financial Analysis, Elsevier, vol. 77(C).
  16. Cormier, Denis & Magnan, Michel & Morard, Bernard, 1996. "Le coût implicite de la pollution industrielle imputé aux entreprises," L'Actualité Economique, Société Canadienne de Science Economique, vol. 72(2), pages 149-172, juin.
  17. Mest, David P. & Plummer, Elizabeth, 1999. "Transitory and persistent earnings components as reflected in analysts' short-term and long-term earnings forecasts: evidence from a nonlinear model," International Journal of Forecasting, Elsevier, vol. 15(3), pages 291-308, July.
  18. Jo Danbolt & Ian Hirst & Eddie Jones, 2011. "The growth companies puzzle: can growth opportunities measures predict firm growth?," The European Journal of Finance, Taylor & Francis Journals, vol. 17(1), pages 1-25.
  19. van der Heijden, Hans & Garn, Wolfgang, 2013. "Profitability in the car industry: New measures for estimating targets and target directions," European Journal of Operational Research, Elsevier, vol. 225(3), pages 420-428.
  20. Chen, Jun & Garel, Alexandre & Tourani-Rad, Alireza, 2019. "The value of academics: Evidence from academic independent director resignations in China," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 393-414.
  21. Dechow, Patricia M. & Hutton, Amy P. & Sloan, Richard G., 1999. "An empirical assessment of the residual income valuation model1," Journal of Accounting and Economics, Elsevier, vol. 26(1-3), pages 1-34, January.
  22. Nikola Petrovic & Stuart Manson & Jerry Coakley, 2009. "Does Volatility Improve UK Earnings Forecasts?," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 36(9‐10), pages 1148-1179, November.
  23. I-Cheng Yeh & Che-hui Lien, 2017. "Growth and value hybrid valuation model based on mean reversion," Applied Economics, Taylor & Francis Journals, vol. 49(50), pages 5092-5116, October.
  24. Richard Kent & James Routledge & Karen McPherson, 2017. "Use of benchmarks in predicting earnings management?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 57(1), pages 239-260, March.
  25. Pengguo Wang, 2013. "The role of disaggregation of earnings in stock valuation and earnings forecasting," Accounting and Business Research, Taylor & Francis Journals, vol. 43(5), pages 530-557, October.
  26. Tayeb Saadi, 2010. "Contenus Informationnels Du Resultat Net Et Des Capitaux Propres : Quelle Pertinence Apres L'Introduction Des Normes Ifrs : Le Cas De La France," Post-Print hal-00481550, HAL.
  27. Monika Chopra & Abhishek Miglani, 2018. "Do stock markets acceptably reflect earnings manipulation? Analysis of Indian manufacturing firms," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 45(3), pages 271-280, September.
  28. Michael Ettredge & Richard Toolson & Steve Hall & Chongkil Na, 1996. "Behavior of earnings, stock returns, accruals, and analysts' forecasts following negative annual earnings," Review of Financial Economics, John Wiley & Sons, vol. 5(2), pages 147-162.
  29. Kothari, S. P., 2001. "Capital markets research in accounting," Journal of Accounting and Economics, Elsevier, vol. 31(1-3), pages 105-231, September.
  30. Chu, Kai Cheung & Wong, Kit Pong, 2010. "Progressive taxation and corporate liquidation policies with mean-reverting earnings," Economic Modelling, Elsevier, vol. 27(3), pages 730-736, May.
  31. Manso, Gustavo, 2013. "Feedback effects of credit ratings," Journal of Financial Economics, Elsevier, vol. 109(2), pages 535-548.
  32. Mundt, Philipp & Alfarano, Simone & Milaković, Mishael, 2020. "Exploiting ergodicity in forecasts of corporate profitability," Journal of Economic Dynamics and Control, Elsevier, vol. 111(C).
  33. Kathryn E. Easterday & Pradyot K. Sen, 2023. "Another look at the dividend-price relationship in the accounting valuation framework," Review of Quantitative Finance and Accounting, Springer, vol. 61(3), pages 879-925, October.
  34. Stephen H. Penman, 2010. "Financial Forecasting, Risk and Valuation: Accounting for the Future," Abacus, Accounting Foundation, University of Sydney, vol. 46(2), pages 211-228, June.
  35. Michaël Dewally & Yingying Shao, 2015. "Industry cluster and performance sensitivity," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 39(4), pages 824-844, October.
  36. Gow-Cheng Huang & Kartono Liano & Ming-Shiun Pan, 2006. "Do stock splits signal future profitability?," Review of Quantitative Finance and Accounting, Springer, vol. 26(4), pages 347-367, June.
  37. Kryzanowski, Lawrence & Mohsni, Sana, 2013. "Growth of aggregate corporate earnings and cash-flows: Persistence and determinants," International Review of Economics & Finance, Elsevier, vol. 25(C), pages 13-23.
  38. Stephen H. Penman, 1998. "Combining Earnings and Book Value in Equity Valuation," Contemporary Accounting Research, John Wiley & Sons, vol. 15(3), pages 291-324, September.
  39. Amilcar A. Menichini, 2017. "On the value and determinants of the interest tax shields," Review of Quantitative Finance and Accounting, Springer, vol. 48(3), pages 725-748, April.
  40. Saeed Ahmed, 2007. "Forecasting Profitability, Earnings, and Corporate Taxes: Evidence from UK Companies," SBP Working Paper Series 16, State Bank of Pakistan, Research Department.
  41. Dan S. Dhaliwal & Steven E. Kaplan & Rick C. Laux & Eric Weisbrod, 2013. "The Information Content of Tax Expense for Firms Reporting Losses," Journal of Accounting Research, Wiley Blackwell, vol. 51(1), pages 135-164, March.
  42. Dichev, Ilia D. & Tang, Vicki Wei, 2009. "Earnings volatility and earnings predictability," Journal of Accounting and Economics, Elsevier, vol. 47(1-2), pages 160-181, March.
  43. Muammar Khaddaf & Khaira Amalia F & Rahmanta, 2014. "The Effect of Earnings Aggressiveness, Earnings Smoothing on Return of Stock," Journal of Economics and Behavioral Studies, AMH International, vol. 6(6), pages 509-523.
  44. Stephen H. Penman & Scott A. Richardson & İrem Tuna, 2007. "The Book‐to‐Price Effect in Stock Returns: Accounting for Leverage," Journal of Accounting Research, Wiley Blackwell, vol. 45(2), pages 427-467, May.
  45. Cai, Jun & Wei, K. C. John, 1997. "The investment and operating performance of Japanese initial public offerings," Pacific-Basin Finance Journal, Elsevier, vol. 5(4), pages 389-417, September.
  46. Tayeb Saadi, 2007. "EVA Vs. résultat net : Quel contenu informationnel dans le contexte français ?," Post-Print halshs-00544950, HAL.
  47. Amor-Tapia, Borja & Tascón Fernández, María T., 2014. "Estimation of future levels and changes in profitability: The effect of the relative position of the firm in its industry and the operating-financing disaggregation," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 17(1), pages 30-46.
  48. Sun, Yan & Xu, Weihong, 2012. "The role of accounting conservatism in management forecast bias," Journal of Contemporary Accounting and Economics, Elsevier, vol. 8(2), pages 64-77.
  49. Hatem Mansali, 2009. "La gestion des résultats et les performances comptables à long terme des entreprises françaises émettrices d’actions," Revue Finance Contrôle Stratégie, revues.org, vol. 12(4), pages 39-83, December.
  50. repec:dgr:rugsom:00e55 is not listed on IDEAS
  51. Glover, Kristoffer J. & Hambusch, Gerhard, 2016. "Leveraged investments and agency conflicts when cash flows are mean reverting," Journal of Economic Dynamics and Control, Elsevier, vol. 67(C), pages 1-21.
  52. T.N. Malofeeva, 2018. "The Impact of IFRS Adoption on Earnings Management in Russia," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 147-164.
  53. Stina Skogsvik, 2008. "Financial Statement Information, the Prediction of Book Return on Owners' Equity and Market Efficiency: The Swedish Case," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 35(7-8), pages 795-817.
  54. Kallunki, Juha-Pekka & Martikainen, Minna & Martikainen, Teppo, 1998. "Accounting income, income components and market-to-book equity ratios: Finnish evidence," The International Journal of Accounting, Elsevier, vol. 33(3), pages 359-375.
  55. Meitner, Matthias, 2003. "Option-Style Multi-Factor Comparable Company Valuation for Practical Use," ZEW Discussion Papers 03-76, ZEW - Leibniz Centre for European Economic Research.
  56. Curtis Farnsel, 2023. "Do Investors Perceive the Link Between Equity Method Earnings and Future Earnings? The Role of Supplemental Disclosures," Abacus, Accounting Foundation, University of Sydney, vol. 59(4), pages 954-982, December.
  57. Frankel, Richard & Litov, Lubomir, 2009. "Earnings persistence," Journal of Accounting and Economics, Elsevier, vol. 47(1-2), pages 182-190, March.
  58. Zhang, Yongshen & Zhang, Qing & Yu, Xiaoliang & Ma, Qiushu, 2023. "Equity overvaluation, insider trading activity, and M&A premium: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 80(C).
  59. Hui Tian & Andrew Yim & David P. Newton, 2021. "Tail-Heaviness, Asymmetry, and Profitability Forecasting by Quantile Regression," Management Science, INFORMS, vol. 67(8), pages 5209-5233, August.
  60. Graham, John R., 1996. "Proxies for the corporate marginal tax rate," Journal of Financial Economics, Elsevier, vol. 42(2), pages 187-221, October.
  61. Yuan Yin & Ken Peasnell & Herbert G. Hunt, 2018. "How do sell-side analysts obtain price-earnings multiples to value firms?," Accounting and Business Research, Taylor & Francis Journals, vol. 48(1), pages 108-135, January.
  62. Brett W. Cantrell & Victoria Dickinson, 2020. "Conditional Life Cycle: An Examination of Operating Performance for Leaders and Laggards," Management Science, INFORMS, vol. 66(1), pages 433-451, January.
  63. Thomas W. Scott & Heather A. Wier, 2000. "On Constructing an EPS Measure: An Assessment of the Properties of Dilution," Contemporary Accounting Research, John Wiley & Sons, vol. 17(2), pages 303-326, June.
  64. Carlos Omar Trejo-Pech & Magdy Noguera & Angel Samaniego-Alcantar & Richard N. Weldon, 2012. "The Relationship Between Accruals, Earnings, And Cash Flows: Evidence From Latin America," Accounting & Taxation, The Institute for Business and Finance Research, vol. 4(1), pages 95-107.
  65. Ettredge, Michael & Toolson, Richard & Hall, Steve & Na, Chongkil, 1996. "Behavior of earnings, stock returns, accruals, and analysts' forecasts following negative annual earnings," Review of Financial Economics, Elsevier, vol. 5(2), pages 147-162.
  66. Holthausen, Robert W. & Larcker, David F., 1996. "The financial performance of reverse leveraged buyouts," Journal of Financial Economics, Elsevier, vol. 42(3), pages 293-332, November.
  67. Jensen, Gerald R. & Lundstrum, Leonard L. & Miller, Robert E., 2010. "What do dividend reductions signal?," Journal of Corporate Finance, Elsevier, vol. 16(5), pages 736-747, December.
  68. Pilotte, Eugene & Manuel, Timothy, 1996. "The market's response to recurring events The case of stock splits," Journal of Financial Economics, Elsevier, vol. 41(1), pages 111-127, May.
  69. Monterrey Mayoral, Juan & Sánchez Segura, Amparo, 2017. "Una evaluación empírica de los métodos de predicción de la rentabilidad y su relación con las características corporativas," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 20(1), pages 95-106.
  70. Hatem Mansali, 2005. "Les performances opérationnelles à long terme des entreprises françaises émettrices d’actions," Revue Finance Contrôle Stratégie, revues.org, vol. 8(2), pages 207-231, June.
  71. Gustavo Manso, 2011. "Feedback Effects of Credit Ratings," 2011 Meeting Papers 1338, Society for Economic Dynamics.
  72. Andreas Charitou & George Panagiotides, 1999. "Financial analysis, future earnings and cash flows, and the prediction of stock returns: evidence for the UK," Accounting and Business Research, Taylor & Francis Journals, vol. 29(4), pages 281-298.
  73. Hui-Sung Kao, 2014. "The relationships between IFRS, earnings losses threshold and earnings management," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 12(1), pages 81-98, February.
  74. Couch, Robert & Thibodeau, Nicole & Wu, Wei, 2017. "Are fair value options created equal? A study of SFAS 159 and earnings volatility," Advances in accounting, Elsevier, vol. 38(C), pages 15-29.
  75. Liu, Chinpiao & Chen, An-Sing, 2015. "Do firms use dividend changes to signal future profitability? A simultaneous equation analysis," International Review of Financial Analysis, Elsevier, vol. 37(C), pages 194-207.
  76. Patricia M. Fairfield & Sundaresh Ramnath & Teri Lombardi Yohn, 2009. "Do Industry‐Level Analyses Improve Forecasts of Financial Performance?," Journal of Accounting Research, Wiley Blackwell, vol. 47(1), pages 147-178, March.
  77. Yaowen Shan & Stephen Taylor & Terry Walter, 2013. "Fundamentals or Managerial Discretion? The Relationship between Accrual Variability and Future Stock Return Volatility," Abacus, Accounting Foundation, University of Sydney, vol. 49(4), pages 441-475, December.
  78. Yuri Biondi & Pierpaolo Giannoccolo, 2015. "Share price formation, market exuberance and financial stability under alternative accounting regimes," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 10(2), pages 333-362, October.
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