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| Tekijä: | Salmi, T. Virtanen, I. Yli-olli, P. |
| Otsikko: | The generalized association between financial statements and security characteristics |
| Lehti: | Scandinavian Journal of Management
1997 : JUN, VOL. 13:2, p. 121-136 |
| Asiasana: | FINANCIAL STATEMENTS SECURITY COMPANIES |
| Kieli: | eng |
| Tiivistelmä: | This article observes a relationship between the financial ratios and its security characteristics, when canonical correlation analysis is applied. From a sample of 32 firms for the period 1974-1984 it is seen that the key ratios differ in the relationship over time. It is observed that accrual-based ratios are related more significantly than cash-based ratios to the security characteristics. A limited number of temporally varying key ratios is sufficient to establish a relationship between the financial ratios and the security characteristics. The expected returns and beta are sufficient in assessing security characteristics. |
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