haku: @indexterm GEARING / yhteensä: 211
viite: 66 / 211
| Tekijä: | Ohlson, J. A. Shroff, P. |
| Otsikko: | Changes versus levels in earnings as explanatory variables for returns: some theoretical considerations |
| Lehti: | Journal of Accounting Research
1992 : AUTUMN, VOl. 30, p. 210-226 |
| Asiasana: | EARNINGS CHANGE GEARING ACCOUNTING |
| Kieli: | eng |
| Tiivistelmä: | This paper considers theoretical aspects of specification of an earnings variable to explain contemporaneous returns. The analysis in this paper extends Ohlson's previous model to address the question of earnings levels versus earnings changes in regressions of returns on earnings. More generally, the authors consider how characterizations of earnings behavior influence the correlation between earnings variables and returns. The authors show that a simple condition of market efficiency, namely, an assumption of unpredictable returns, can be exploited to identify the earnings variable most highly correlated with returns. |
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