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| Author: | Mande, V. |
| Title: | Earnings response coefficients and dividend policy parameters. |
| Journal: | Accounting and Business Research
1994 : SPRING, VOL. 24:94, p. 148-156 |
| Index terms: | EARNINGS DIVIDEND POLICY STOCK RETURNS |
| Language: | eng |
| Abstract: | In a seminal paper, Ball and Brown (1968) documented a positive statistical association between earnings surprises and stock returns around an earnings announcement. They concluded that accounting earnings conveyed "useful" information to the market. Recent work on this topic has found that current accounting earnings aid investors and analysts in predicting future accounting earnings. A model by Ohlson (1989a) suggests that investors are also interested in the relationship between current earnings and future dividends. |
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