This paper examines the capability of Cyclically Adjusted Price to Earnings (CAPE) or Shiller’s P/E ratio, along with other relative valuation ratios such as and P/BV, predict future returns FTSE/ASE Large Cap Index, starting from development index (1997) December 2018. We have herein used several regression models in order examine relationship between above 1, 3, 5 10 years. show that, while P...

We investigate the effects of social and regulatory forces on a firm’s decision to disclose past wrongdoing by voluntarily restating its earnings. With an eight-year sample of more than 2,500 public firms, including 170 voluntary restaters, we find that firms are more likely to voluntarily restate their earnings in response to informal social pressures from other firms in their industry and les...

UNLABELLED The outcomes of ACL reconstructions in terms of patient satisfaction and function are well known. Most orthopaedic surgeons feel that Medicare and other payors do not reimburse enough for this surgery. The purpose of this study is to determine how much patients are willing to pay for this surgery and compare it to reimbursement rates. METHODS We constructed a survey which described...

Recent research by Liu and Thomas (2000) and Dechow et al. (1999) suggest that analysts’ forecasts are important in explaining contemporaneous prices/returns and they strengthen the estimated returnearnings relation. This study investigates the role of the analysts’ earnings forecasts in explaining returns in Sweden where the analyst profession has considerably developed during the last two dec...

This study aims to examine the effect of default risk, accounting conservatism, earnings persistence and audit quality on response coefficient (ERC). The population in this are non-financial companies listed Indonesia Stock Exchange (IDX) for 2019-2021 with a total 673 companies. Sampling used purposive sampling obtained as many 118 354 observational data. research is quantitative secondary dat...

Does limited attention among investors affect stock returns? We compare the response to earnings announcements on Friday, when investor inattention is more likely, to the response on other weekdays. If inattention influences stock prices, we should observe less immediate response and more drift for Friday announcements. Indeed, Friday announcements have a 15% lower immediate response and a 70% ...

In recent years, many companies have emphasized adjusted-GAAP earnings numbers in their quarterly press releases. While managers use different names to describe these nonstandard earnings metrics, the financial press frequently refers to them as ‘‘pro forma’’ earnings. Managers and other advocates of pro forma reporting argue that these disclosures provide a clearer picture of companies’ core e...

All three papers deal with important policy issues. Ruhm, whose analysis ranges the most widely, goes furthest in recommending policy activism. Podgursky and Swaim (P&S) are somewhat more re strained, but it is clear that they too favor special assistance for displaced workers. In our own paper we see advantage in workers being given notification of their impending redundancy in the specific co...

Analysts have proposed raising the maximum level of earnings subject to the Social Security payroll tax (the "tax max") to improve long-term Social Security Trust Fund solvency. This article investigates how raising the tax max leads to the "leakage" of portions of the additional revenue into higher benefit payments. Using Health and Retirement Study data matched to Social Security earnings rec...