IDEAS home Printed from https://ideas.repec.org/a/cup/jfinqa/v9y1974i02p151-153_01.html
   My bibliography  Save this article

Comment: Efficient Capital Markets and the Information Content of Accounting Numbers

Author

Listed:
  • Heathcotte, Bryan

Abstract

For purposes of discussing Professor Emery's work, we may adopt the following symbolism: (1) let SEEj denote the standard error about the regression-established trend of the reported earnings stream of firm j; (2) let VAR(ΔEPSj) denote the variance of the annual changes in the reported earnings stream of firm j; (3) let denote the variance of the annual changes in the cthsimulated (unsmoothed) earnings stream for firm j; (4) let CORRj be the coefficient of correlation between the reported earnings stream and the price series for firm j; (5) let be the coefficient of correlation between the cthsimulated earnings stream and the price series for firm j; (6) let Nj be the number of the C unsmoothed earnings streams generated for firm j for which ; and (7) let Nj* be the number of these Nj earnings streams for which .

Suggested Citation

  • Heathcotte, Bryan, 1974. "Comment: Efficient Capital Markets and the Information Content of Accounting Numbers," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 9(2), pages 151-153, March.
    • Handle: RePEc:cup:jfinqa:v:9:y:1974:i:02:p:151-153_01
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S0022109000016884/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jfinqa:v:9:y:1974:i:02:p:151-153_01. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/jfq .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.