Accounting Quality, Stock Price Delay, and Future Stock Returns*
نویسندگان
چکیده
منابع مشابه
Price Inflation and Stock Returns
This letter is intended to demonstrate that price inflation and stock returns display differing relationships depending on the measure of inflation used. Using data from 1966 – 2009, it appears that no correlation exists between any measure of price inflation and stock returns or dividend yield in the period 1983 – 2009. We do find a negative correlation between monetary inflation and dividend ...
متن کاملDividend Resumptions, Future Profitability and Stock Returns
We present a new approach to examining the dividend signalling hypothesis by investigating dividend resumptions by former payers. Evidence regarding the signalling hypothesis has been mixed to date. In support of previous work, we find that dividend policy is sticky, whereby the achievement of profitability does not necessarily lead to the resumption of dividend payment. We find no evidence of ...
متن کاملStock Market Returns, Voltility, And Future Output
Stock market volatility is the systematic risk faced by investors who hold a market portfolio (e.g., a stock market index fund). Schwert (1989b) has undertaken an extensive study of stock market volatility, using historical data back to the 19th century. Some of his major findings are illustrated in Figure 1, which plots quarterly stock market volatility for the post-World War II period.1 The f...
متن کاملStock Market Returns, Volatility, and Future Output
Stock market volatility is the systematic risk faced by investors who hold a market portfolio (e.g., a stock market index fund). Schwert (1989b) has undertaken an extensive study of stock market volatility, using historical data back to the 19th century. Some of his major findings are illustrated in Figure 1, which plots quarterly stock market volatility for the post-World War II period.1 The f...
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ژورنال
عنوان ژورنال: Contemporary Accounting Research
سال: 2012
ISSN: 0823-9150
DOI: 10.1111/j.1911-3846.2011.01154.x