haku: @indexterm ACCOUNTING RATIOS / yhteensä: 42
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| Tekijä: | Martikainen, M. |
| Otsikko: | Accounting losses and ínvestors' growth expectations. |
| Lehti: | International Review of Financial Analysis
1997 : VOL. 6:2, p. 97-105 |
| Asiasana: | ACCOUNTING RATIOS INVESTORS CASH RATIO CASH RATIO |
| Kieli: | eng |
| Tiivistelmä: | The study provides new evidence on the relationship between market-to-book and earnings-to-book equity rations in the Nyse in 1975-1990. By investigating this relationship, it is possible to study how current profitability is reflected in investors' cash flow expectations. The results suggest that the two ratios are not significantly positively related if accounting earnings are negative. The findings support the hypothesis that investors regard accounting losses as temporary, not reflecting future cash flow expectations. Profits are considered more persistent, especially for large and least levered firms. |
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