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| Author: | Wood, D. Piesse, J. |
| Title: | The information value of MDA based financial indicators. |
| Journal: | Journal of Business Finance and Accounting
1987 : SPRING, VOL. 14:1, p. 27-38 |
| Index terms: | BUSINESS RATIOS COMPANY RANKING VALUE ANALYSIS SAMPLING |
| Language: | eng |
| Abstract: | A number of proprietary indicators are offered as measures of corporate performance and solvency. Evidence of their performance though is *incontrusive since it is based on samples which contain a subjective and underrepresentative sample of the true population of desirable companies. The evidence based on the generation of abnormal returns in securities trading presents less problem,but a closer examination suggest that samples with high specific risk have systematic environmental exposures with persist even after correction for systematic risk. The conventional abnormal return metric is therefore inadequate proof of discriminatory value. |
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