Earnings Quality Measures and Excess Returns
نویسندگان
چکیده
منابع مشابه
Earnings Quality Measures and Excess Returns
This paper examines how commonly used earnings quality measures fulfill a key objective of financial reporting, i.e., improving decision usefulness for investors. We propose a stock-price-based measure for assessing the quality of earnings quality measures. We predict that firms with higher earnings quality will be less mispriced than other firms. Mispricing is measured by the difference of the...
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This paper investigates the impact of the firm’s accounting information and, especially the role of earnings quality, on its cost of capital and how this influences excess returns. The analysis extends prior works by investigating how components of accounting information and, especially earnings quality, affect stock returns through their effect on the cost of capital. The empirical approach us...
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ژورنال
عنوان ژورنال: Journal of Business Finance & Accounting
سال: 2014
ISSN: 0306-686X,1468-5957
DOI: 10.1111/jbfa.12071