An Empirical Evaluation of the Stock Price Reaction to Errors in Management Forecasts of Earnings Per Share PDF Download
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Author: Russell Theodore Gingras
Publisher:
ISBN:
Category : Business forecasting
Languages : en
Pages : 384
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Book Description
Author: Russell Theodore Gingras
Publisher:
ISBN:
Category : Business forecasting
Languages : en
Pages : 384
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Book Description
![An Empiricial [sic] Evaluation of the Stock Price Reaction to Errors in Management Forecasts of Earnings Per Share PDF](https://books.google.com/books/content/images/frontcover/YGQCHAAACAAJ?fife=w80-h100)
Author: Russell Theodore Gingras
Publisher:
ISBN:
Category : Business forecasting
Languages : en
Pages : 338
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Book Description
Author: William R. Baber
Publisher:
ISBN:
Category :
Languages : en
Pages : 21
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Book Description
Both academic and practicing accountants use forecasts made by security analysts to estimate market expectations about forthcoming earnings announcements. We report empirical analysis to illustrate how common stock splits induce a loss of precision in computing forecast errors from commonly used analyst forecast data files. An investigation of security price reactions to earnings announcements demonstrates how the loss of precision potentially alters inferences about security price reactions to announcements of earnings that meet, but do not exceed, the consensus forecast. Further analysis indicates that, because stock-split adjustments are made retrospectively, and because firms that execute stock-splits tend to be well-performing ex post, the consequences of the stock-split problem are systematic, potentially contaminating empirical investigations of both time-series and cross-sectional characteristics of forecast errors and of security price reactions to earnings announcements.
Author: Hay Young Chung
Publisher:
ISBN:
Category :
Languages : en
Pages : 388
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Book Description
Author: Yann-ching Tsai
Publisher:
ISBN:
Category : Stocks
Languages : en
Pages : 174
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Author:
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 562
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Author: Hakan Saraoglu
Publisher:
ISBN:
Category : Business forecasting
Languages : en
Pages : 318
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Book Description
Author: Patricia Colleen O'Brian
Publisher:
ISBN:
Category : Corporate profits
Languages : en
Pages : 226
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Book Description
Author: Benjamin Schmitt
Publisher: GRIN Verlag
ISBN: 3656972419
Category : Business & Economics
Languages : en
Pages : 57
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Book Description
Bachelor Thesis from the year 2008 in the subject Business economics - Investment and Finance, grade: 1.1, EBS European Business School gGmbH (Finance), language: English, abstract: Many authors have already studied about stock price reactions after earnings announcements yet, which is because of the importance of earnings announcements, in particular quarterly earnings announcements, for many investors. However, all major studies concerning this topic deal with long-term scenarios, the stock’s price performance is measured for a time period of at least three quarters. Due to the fact that there are many investors, especially institutional investors such as hedge funds that trade stocks much more frequently, the existing studies are not relevant for them. This paper studies stock price reactions around quarterly earnings announcements for companies listed in Deutscher Aktienindex (DAX) or Midcap DAX (MDAX) with respect to changes of the company’s full-year outlook and of earnings surprise regarding analyst consensus forecast within ten days before and after the announcement date. Hence, this paper aims to analyse short-term reaction to quarterly earnings announcements, which are of relevance for all investors, whose investment strategy is, at least partially, focussing on the short-term performance. The main target group of this analysis are therefore hedge funds and investors that run short-term strategies. Due to the fact that the widespread Event Study Methodology is focused on the long-term, it is irrelevant for this analysis.
Author: Library of Congress. Copyright Office
Publisher: Copyright Office, Library of Congress
ISBN:
Category : Copyright
Languages : en
Pages : 1594
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Book Description
