Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Download The E P Effect And The Earnings Forecast Error Effect full books in PDF, epub, and Kindle. Read online The E P Effect And The Earnings Forecast Error Effect ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Author :
Publisher :
ISBN 13 :
Total Pages : 180 pages
Book Rating : 4.:/5 (932 download)
Download or read book The E-P Efect and the Earnings Forecast Error Effect written by and published by . This book was released on 1987 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jeehong Kim
Publisher :
ISBN 13 :
Total Pages : 360 pages
Book Rating : 4.:/5 (153 download)
Download or read book The E/P Effect and the Earnings Forecast Error Effect written by Jeehong Kim and published by . This book was released on 1987 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jeehong Kim
Publisher :
ISBN 13 :
Total Pages : 386 pages
Book Rating : 4.:/5 (29 download)
Download or read book The E/P Effect and the Earnings Forecast Error Effect written by Jeehong Kim and published by . This book was released on 1987 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Thomas J. Lopez
Publisher :
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.:/5 (129 download)
Download or read book The Effect of Meeting Analyst Forecasts and Systematic Positive Forecast Errors on the Information Content of Unexpected Earnings written by Thomas J. Lopez and published by . This book was released on 2001 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on two distinct, but related, issues with respect to managers' incentives to report earnings that meet or exceed analysts' expectations. First, we assess the differential stock price sensitivity to earnings that meet or exceed analysts' expectations compared to those that do not. Second, we examine whether the market implicitly revises analysts' earnings forecasts for firms that systematically report earnings that exceed forecasts. We find that the earnings response coefficient (ERC) is significantly higher for firms that meet analysts' forecasts. Additionally, we find that the market recognizes and adjusts the forecast error of firms that exhibit a systematic pattern of reporting positive or negative unexpected earnings. The market fully adjusts for the systematic component of the forecast error when it is negative; however, only a partial adjustment is made when the systematic component is positive. Overall, our evidence suggests that managers who try to report earnings that meet analysts' forecasts are responding to two market incentives. First, the market provides a premium to positive forecast errors and assigns a higher multiple to the level of positive unexpected earnings. Second, though the market recognizes systematic bias in analysts' forecasts, it does not fully adjust for systematically positive forecast errors. Our evidence provides, at a minimum, a partial explanation for managers' fixation on reporting positive unexpected earnings.
Author : Alain Coen
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (129 download)
Download or read book The Relative Importance of Forecast Accuracy Determinants Revisited written by Alain Coen and published by . This book was released on 2008 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze earnings forecasting errors made by financial analysts for 18 European countries over the 1995-2006 period. We use the Heston-Rouwenhorst approach to unravel country-, industry-, and firm-specific effects as a source of variation in financial analysts' earnings forecast errors. We first estimate each effect with a dummy variable regression, and then decompose the variance of forecast errors into different effects. We provide evidence that the differences among countries, industrial sectors, or analyst following offer a weak explanation for differences in forecast errors. Country effects however largely dominate industry and analyst following effects on European stock markets. By contrast, the type of earnings - profits or losses - and variations in earnings - increases or decreases - play a significant role in the performance of financial analysts.
Author : Beverly Rayburn Walther
Publisher :
ISBN 13 :
Total Pages : 154 pages
Book Rating : 4.:/5 (718 download)
Download or read book The Effects of Forecast Availability and Forecast Accuracy on Market Earnings Expectations written by Beverly Rayburn Walther and published by . This book was released on 1996 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : VICTOR L. BERNARD
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.L/5 ( download)
Download or read book STOCK PRICE REACTIONS TO EARNINGS ANNOUNCEMENTS: A written by VICTOR L. BERNARD and published by . This book was released on 1992 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Francisco Arizala
Publisher : International Monetary Fund
ISBN 13 : 1484333594
Total Pages : 32 pages
Book Rating : 4.4/5 (843 download)
Download or read book The Impact of Fiscal Consolidations on Growth in Sub-Saharan Africa written by Francisco Arizala and published by International Monetary Fund. This book was released on 2017-12-15 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the output effects of changes in public expenditure and revenue in sub-Saharan African countries during 1990–2016. Fiscal multipliers in sub-Saharan Africa are somewhat smaller than those in advanced and emerging economies. The effect of changes in fiscal policy on output depends on the composition: cutting public investment has a larger effect on output than cutting public consumption or raising revenue. Episodes of fiscal consolidation have short- and medium-term output effects, but here, too, composition matters: fiscal consolidations based on reducing public investment have the largest effect on output, while fiscal consolidations based on revenue mobilization are less harmful than those based on public investment cuts. These findings suggest that the negative impact on growth can be mitigated through the design of fiscal adjustment and the accompanying policy environment.
Author :
Publisher :
ISBN 13 :
Total Pages : 800 pages
Book Rating : 4.3/5 (129 download)
Download or read book Employment and Earnings written by and published by . This book was released on 2005 with total page 800 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mohammad Nurunnabi
Publisher : Emerald Group Publishing
ISBN 13 : 1801174423
Total Pages : 276 pages
Book Rating : 4.8/5 (11 download)
Download or read book International Financial Reporting Standards Implementation written by Mohammad Nurunnabi and published by Emerald Group Publishing. This book was released on 2021-08-23 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contributions to International Accounting aims to address a vital gap in research by focusing on providing relevant and timely studies on International Financial Reporting Standards implementation for local and international policymakers.
Author : Ahmed Riahi-Belkaoui
Publisher : Bloomsbury Publishing USA
ISBN 13 : 031300482X
Total Pages : 289 pages
Book Rating : 4.3/5 (13 download)
Download or read book Multinationality--Earnings, Efficiency, and Market Considerations written by Ahmed Riahi-Belkaoui and published by Bloomsbury Publishing USA. This book was released on 2001-12-30 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: The impact of multinationality on the operations of a firm is clear and strong. Riahi-Belkaoui shows how it affects the known relationships between earnings, efficiency, disclosure, and market valuation by its role as a dependent, moderating, intervening antecedant or consequent variable. Its impact can be felt, for example, in relationships and phenomena such as the timeliness and the informativeness of earnings, the underreaction of securities analysts, post-earnings announcement drifts, and the level and quality of disclosure. An understanding of multinationality in the earnings-disclosure-efficiency-market valuation relationship can also be used by accountants and researchers in their daily activities, and by corporate executives in multinational organizational decision making. The result is a useful, probing exploration for academics and practitioners alike.
Author : Walter Stewart McManus
Publisher :
ISBN 13 :
Total Pages : 250 pages
Book Rating : 4.E/5 ( download)
Download or read book Effects of Language Characteristics on Earnings written by Walter Stewart McManus and published by . This book was released on 1983 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Peter Easton
Publisher : Now Publishers Inc
ISBN 13 : 1601981945
Total Pages : 148 pages
Book Rating : 4.6/5 (19 download)
Download or read book Estimating the Cost of Capital Implied by Market Prices and Accounting Data written by Peter Easton and published by Now Publishers Inc. This book was released on 2009 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: Estimating the Cost of Capital Implied by Market Prices and Accounting Data focuses on estimating the expected rate of return implied by market prices, summary accounting numbers, and forecasts of earnings and dividends. Estimates of the expected rate of return, often used as proxies for the cost of capital, are obtained by inverting accounting-based valuation models. The author describes accounting-based valuation models and discusses how these models have been used, and how they may be used, to obtain estimates of the cost of capital. The practical appeal of accounting-based valuation models is that they focus on the two variables that are commonly at the heart of valuations carried out by equity analysts -- forecasts of earnings and forecasts of earnings growth. The question at the core of this monograph is -- How can these forecasts be used to obtain an estimate of the cost of capital? The author examines the empirical validity of the estimates based on these forecasts and explores ways to improve these estimates. In addition, this monograph details a method for isolating the effect of any factor of interest (such as cross-listing, fraud, disclosure quality, taxes, analyst following, accounting standards, etc.) on the cost of capital. If you are interested in understanding the academic literature on accounting-based estimates of expected rate of return this monograph is for you. Estimating the Cost of Capital Implied by Market Prices and Accounting Data provides a foundation for a deeper comprehension of this literature and will give a jump start to those who have an interest in these topics. The key ideas are introduced via examples based on actual forecasts, accounting information, and market prices for listed firms, and the numerical examples are based on sound algebraic relations.
Author : John B. Guerard
Publisher : SAS Institute
ISBN 13 : 1635266890
Total Pages : 277 pages
Book Rating : 4.6/5 (352 download)
Download or read book Portfolio and Investment Analysis with SAS written by John B. Guerard and published by SAS Institute. This book was released on 2019-04-03 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: Choose statistically significant stock selection models using SAS® Portfolio and Investment Analysis with SAS®: Financial Modeling Techniques for Optimization is an introduction to using SAS to choose statistically significant stock selection models, create mean-variance efficient portfolios, and aggressively invest to maximize the geometric mean. Based on the pioneering portfolio selection techniques of Harry Markowitz and others, this book shows that maximizing the geometric mean maximizes the utility of final wealth. The authors draw on decades of experience as teachers and practitioners of financial modeling to bridge the gap between theory and application. Using real-world data, the book illustrates the concept of risk-return analysis and explains why intelligent investors prefer stocks over bonds. The authors first explain how to build expected return models based on expected earnings data, valuation ratios, and past stock price performance using PROC ROBUSTREG. They then show how to construct and manage portfolios by combining the expected return and risk models. Finally, readers learn how to perform hypothesis testing using Bayesian methods to add confidence when data mining from large financial databases.
Author : Philip Barrett
Publisher : International Monetary Fund
ISBN 13 : 1484374932
Total Pages : 79 pages
Book Rating : 4.4/5 (843 download)
Download or read book The Fiscal Cost of Conflict: Evidence from Afghanistan 2005-2016 written by Philip Barrett and published by International Monetary Fund. This book was released on 2018-09-11 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: I use a monthly panel of provincially-collected central government revenues and conflict fatalities to estimate government revenues lost due to conflict in Afghanistan since 2005. I identify causal effects by instrumenting for conflict using pre-sample ethno-linguistic share. Headline estimates are very large, implying total revenue losses since 2005 of $3bn, and future revenue gains from peace of about 6 percent of GDP per year. Reduced collection efficiency, rather than lower economic activity, appears to be the key channel. OLS estimates understate the causal effect by a factor of four. Comparing to estimates from Powell’s (2017) generalized synthetic control method suggests that this bias results from omitted variables and measurement error in equal share. The findings underscore the considerable economic loss due to conflict, and the importance of careful identification in measuring this loss.
Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484320972
Total Pages : 129 pages
Book Rating : 4.4/5 (843 download)
Download or read book Regional Economic Outlook, October 2017, Sub-Saharan Africa written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2017-11-27 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: Growth in sub-Saharan Africa has recovered relative to 2016, but the momentum is weak and per capita incomes are expected to barely increase. Further, vulnerabilities have risen in many countries, adding to the urgency of implementing the fiscal consolidations planned in most countries and with stepped up efforts to strengthen growth.
Author : Florian Schuster
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 53 pages
Book Rating : 4.4/5 (2 download)
Download or read book Debt Surges—Drivers, Consequences, and Policy Implications written by Florian Schuster and published by International Monetary Fund. This book was released on 2024-03-08 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many countries find themselves with elevated debt levels, increased debt vulnerabilities, and tight financing conditions, while also facing increased spending needs for development and transition to a greener economy. This paper aims to place the current debt landscape in a historical context and investigate the drivers of debt surges, to what degree they result in a crisis as well as examine post-surge debt trajectories and under what conditions debt follows a non-declining path. We find that fiscal policy and stock-flow adjustments play important roles in debt dynamics with the valuation effects arising from currency depreciation explaining more than half of stock flow adjustments in LICs. Debt surges are estimated to result in a financial crisis with a probability of 11–20 percent and spending-driven fiscal expansions during debt surges tend to result in a high probability of non-declining debt path.
