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| Tekijä: | Martikainen, T. Rothovius, T. Yli-Olli, P. |
| Otsikko: | On the individual and incremental information content of accrual earnings, cash flows and cash dividends in the Finnish stock market |
| Lehti: | European Journal of Operational Research
1993 : AUG 13, VOL. 68:3, p. 318-333 |
| Asiasana: | FINANCE MEASUREMENT CORPORATE EARNINGS CASH FLOW |
| Kieli: | eng |
| Tiivistelmä: | This paper investigates the informational characteristics of accrual earnings, cash flow-based earnings and cash dividend releases in the Finnish stock market. First the separate effects of the information sources are studied and second, the incremental information of these announcements is investigated. The results indicate that the market has typically reacted in the same direction as the signs of the unexpected net income, cash flow or cash dividend figures suggest. However, significant time-series variation due to the structural changes in the Finnish stock market is detected in the results. |
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