Purchase Obligations, Earnings Persistence and Stock Returns
نویسندگان
چکیده
منابع مشابه
Purchase Obligations, Earnings Persistence and Stock Returns
This paper examines whether the disclosure of purchase obligations in the MD&A section of 10-K filings provides useful information to investors. Firms are predicted to enter into additional purchase obligations when they expect an increase in demand for their products. As such, growth in purchase obligations is predicted to be associated with higher future sales and earnings. The evidence is co...
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Accounting accruals anticipate future economic benefits. They are intended to reverse upon the realization of the anticipated future benefits, such that their reversals have no net impact on future earnings. In practice, however, we show that extreme accruals exhibit a high frequency of subsequent reversals that do impact future earnings. We demonstrate that these reversals explain a number of ...
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The main objective of this study was to investigate the effect of income smoothing on investors reaction to Earnings Persistence of companies listed on the Stock Exchange in Tehran. The population of the study was companies listed on the Stock Exchange in Tehran, the sample size due to screening method and after removing outliers is equal to 118 companies. In this study, earnings persistence an...
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متن کاملEarnings Persistence
Dichev and Tang (2008) (this issue) document the incremental predictive power of past earnings volatility for the persistence of current earnings. We revisit their findings by allowing for several theoretically motivated factors (firm size, earnings growth, and the extent of managerial accounting discretion as detected by abnormal accruals) in order to verify the robustness of this effect. We a...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2018
ISSN: 1556-5068
DOI: 10.2139/ssrn.3311273