Results 241 to 250 of about 2,968,013 (289)

Conditional Persistence of Earnings Components and Accounting Anomalies

Journal of Business Finance and Accounting, 2015
AbstractWe suggest that the failure of investors to distinguish between an earnings component's autocorrelation coefficient (unconditional persistence) and the marginal contribution of that component's persistence to the persistence of earnings (conditional persistence) provides a partial explanation of post‐earnings‐announcement drift, post‐revenue ...
Shai Levi, Itay Kama, Eli Amir
exaly   +2 more sources

Mandatory Earnings Disaggregation and the Persistence and Pricing of Earnings Components

The International Journal of Accounting, 2013
We investigate whether the special item anomaly in the U.S. exists in an environment where the separation of non-recurring items from earnings is mandated. We use South African data, as the separate disclosure of specific non-recurring items has been mandatory since 2000.
Elmar R. Venter, Steven F. Cahan, David Emanuel   +2 more
openaire   +1 more source

Analystss Earnings Surprise Components and Future Earnings Performance

SSRN Electronic Journal, 2016
Our paper examines the association between components of analysts’ earnings surprises and future earnings. We decompose the analysts’ earnings surprise into its revenue, pretax margin, pretax income, and tax components. After controlling for current period earnings and discretionary accruals, we find that each component is positively associated with ...
Michael Calegari, Michael Eames
openaire   +1 more source

Earnings Announcements and the Components of the Bid-Ask Spread

The Journal of Finance, 1996
ABSTRACTThis study investigates the behavior of the components of the bid‐ask spread around earnings announcements. We find that the adverse selection cost component significantly increases surrounding the announcements, while the inventory holding and order processing components significantly decline during the same periods.
Krinsky, Itzhak, Lee, Jason
openaire   +1 more source

Discretionary Reporting of Earnings Components

SSRN Electronic Journal, 1998
This paper provides evidence that in quarterly earnings announcements, managers use discretion to strategically report a large, transitory component of prior-period earnings. Managers are more likely to report separately a prior-period transitory gain from the sale of property, plant, and equipment (PPE) than to report a loss.
Catherine M. Schrand, Beverly R. Walther
openaire   +1 more source

Evidence on the Management of Earnings Components

Journal of Accounting, Auditing & Finance, 2001
Although recent studies provide convincing evidence that firms manage earnings to achieve certain reporting objectives, there is only limited evidence on what steps firms take to manage their earnings. This paper presents evidence as to which components firms use to manage bottom-line, reported earnings.
Elizabeth Plummer, David P. Mest
openaire   +1 more source

Implications of the cash component of earnings for earnings persistence and stock returns

The British Accounting Review, 2016
Abstract The main objective of this paper is to examine the persistence, pricing and economic significance of the cash component of earnings in U.K. listed firms from 1981 to 2013. In so doing, we break down the cash component of earnings into changes in the cash balance and into issuances/distributions to debtholders and equity holders. We find that
Panagiotis G. Artikis, Georgios A. Papanastasopoulos   +1 more
openaire   +1 more source

The Impact of CETA Programs on Components of Participants' Earnings

Industrial and Labor Relations Review, 1987
This paper provides the first estimates of the net impact of CETA participation on the components of CETA participants' post-program earnings. Employing a sample of 1975 CETA enrollees and comparison groups drawn from the March 1978 CPS using a nearest-neighbor matching technique, the authors estimate statistically significant negative effects on men's
Katherine P. Dickinson, Terry R. Johnson, Richard W. West   +2 more
openaire   +1 more source

Estimating the Permanent Component of Accounting Earnings Using the Unobservable Components Model: Implications for Price-Earnings Research

Journal of Accounting, Auditing & Finance, 1993
This study proposes the unobservable components (UC) model as a conceptually and statistically superior approach to modeling the stochastic properties of accounting earnings. Based on the UC model, accounting earnings are decomposed into permanent and transitory components and the earnings-return relation using these components is reexamined.
K. Ramesh, S. Ramu Thiagarajan
openaire   +1 more source

Persistence of Earnings Components and Price Momentum

SSRN Electronic Journal, 2018
This study investigates whether the performance of stock price momentum is affected by factors associated with the persistence of earnings components. We find that stocks with high accruals (or low cash flows) generate higher momentum payoffs than low accruals (or high cash flows) stocks, and the additional momentum payoffs are mostly attributable to ...
Fangming Xu, Cheng Zeng, Liyi Zheng
openaire   +1 more source