WPŁYW STABILNOŚCI I PREDYKCYJNOŚCI ZYSKU KSIĘGOWEGO NA JEGO UŻYTECZNOŚĆ DLA PROGNOZOWANIA STOPY ZWROTU Z AKCJI NA
PRZYKŁADZIE GIEŁDY PAPIERÓW WARTOŚCIOWYCH
W WARSZAWIE
THE EFFECT OF EARNINGS PERSISTENCE, PREDICTABILITY, SMOOTHNESS AND STABILITY ON THE RETURNS-EARNINGS RELATIONSHIP:
EVIDENCE FROM WARSAW STOCK EXCHANGE
Author(s): Rafał CieślikSubject(s): Economy, Business Economy / Management, Accounting - Business Administration
Published by: Wydawnictwo Wyższej Szkoły Menedżerskiej w Warszawie
Keywords: earnings quality; earnings per share; stock market return; persistence; predictability; smoothness; stability
Summary/Abstract: This paper examines whether and how earnings quality affects the role of earnings in a firm’s valuation. It is basicallyfocuses on the returns-earnings relationship taking into consideration four earnings attributes including persistence,predictability, smoothness and stability. For a large sample of Polish non-financial firms over the period 2009–2016, thestudy showed that earnings quality has a weak, but positive, influence on earnings response coefficient.
Journal: Zarządzanie. Teoria i Praktyka
- Issue Year: 15/2016
- Issue No: 1
- Page Range: 17-24
- Page Count: 7
- Language: English