search query: @author O'Hanlon, J. / total: 7
reference: 5 / 7
| Author: | O'Hanlon, J. Poon, S. Yaansah, R. A. |
| Title: | Market recognition of differences in earnings persistence: UK evidence. |
| Journal: | Journal of Business Finance and Accounting
1992 : JUN, VOL. 19:4, p. 625-639 |
| Index terms: | FINANCIAL MODELS STOCK RETURNS STOCK MARKETS UNITED KINGDOM EARNINGS |
| Language: | eng |
| Abstract: | Using company specific classes of time series model to estimate earnings persistence for sample of UK companies, this paper investigates the question of whether market reaction to UK earning surprises is conditioned by earnings persistence. It is found that earnings surprises adjusted by cross-sectionally varying earnings persistence measures are more strongly correlated with abnormal return than are unadjusted earnings surprises. This suggests that studies which have not controlled for persistence may have understated the degree of association between stock market returns and earnings. |
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