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Accrual Noise Ratio as a Measure of Accrual Reliability

Njoroge, Kenneth - 2009

I develop an empirical model that estimates a firm-specific accrual noise ratio (ANR), an operational and statistically … grounded measure of accrual reliability, and test the measure's construct validity. The model allows accrual reliability to … metrics that measure relative perceived reliability, ANR measures accrual reliability independent of the perceptions of …

Persistent link: https://www.econbiz.de/10009475468

Client Importance and Earnings Management: The Moderating Role of Audit Committees

Sharma, Vineeta D.; Sharma, Divesh S.; … - 2011

-based measures, both performance-adjusted discretionary total and current accruals as proxies for earnings management, and a measure …

Persistent link: https://www.econbiz.de/10009459106

Cash flows and accrual accounting in predicting future cash flows of Thai listed companies

Chotkunakitti, Porntip - 2005

conducted in the United States has provided inconsistency in the results of investigating accounting data, cash flow and accrual … study investigates the ability of accrual and cash flows accounting data to predict future cash flows of Thai listed … companies. Three regression models are constructed namely earnings, cash flows, accrual components and cash flows models. In …

Persistent link: https://www.econbiz.de/10009475237

Financial valuation of the German model: the negative relationship between ownership concentration and stock market returns, 1997-2001

Clark, Gordon L.; Wójcik, Dariusz - 2005

Believed to be a robust alternative to Anglo-American market capitalism, the virtues of the German model are increasingly disputed as doubts are raised about its long-term prospects. At the core of the German model is a system of corporate governance that is characterized by concentrated...

Persistent link: https://www.econbiz.de/10009441392

Stochastic volatility with leverage: fast and efficient likelihood inference

Omori, Yasuhiro; Chib, Siddhartha; Shephard, Neil; … - 2007

This paper is concerned with the Bayesian analysis of stochastic volatility (SV) models with leverage. Specifically, the paper shows how the often used Kim et al. [1998. Stochastic volatility: likelihood inference and comparison with ARCH models. Review of Economic Studies 65, 361–393] method...

Persistent link: https://www.econbiz.de/10009441543

Evaluating the economic impact of national sporting performance : evidence from the Johannesburg Stock Exchange

Smith, Brendan Kent - 2009

ENGLISH ABSTRACT: This research report examines stock market reactions to sudden changes in investor mood. The motivation for the study is the large volume of psychology and finance research showing that investor mood is affected by various non-economic or economically-neutral phenomena....

Persistent link: https://www.econbiz.de/10009442110

Relations Between Stock Returns and Fundamental Variables: Evidence from a Segmented Market

Dhatt, Manjeet S.; Kim, Yong H.; Mukherji, Sandip - 1999

This study examines relations between stock returns and potential explanatory factors in Korea, an important and segmented emerging market. Our results show that Korean stock returns in general and returns on stocks listed in Section 1 in particular are significantly positively related to...

Persistent link: https://www.econbiz.de/10009476732

Pabaltijo šalių akcijų pelningumus lemiantys fundamentiniai ir psichologiniai veiksniai

Navickaitė, Deimantė; Mickutė, Laura - 2010

Bakalauro baigiamajame darbe nagrinėjama fundamentinių ir psichologinių veiksnių įtaka akcijų pelningumams. Darbą sudaro dvi dalys: teorinė ir praktinė. Teorinėje dalyje apžvelgiama viena iš populiariausių investavimo priemonių – akcijos, jų esmė ir klasifikacija bei akcijų...

Persistent link: https://www.econbiz.de/10009479222

Marketing period risk in a portfolio context: Theory and empirical estimates from the UK commercial real estate market

Bond, S. A.; Hwang, S.; Lin, Z.; Vandell, K. - 2007

he role of selling (or marketing) period uncertainty in understanding risk associated with property investment is examined in this paper. Using an approach developed by Lin (2004), and Lin and Vandell (2001, 2005), combined with a statistical model of UK commercial property transactions, we show...

Persistent link: https://www.econbiz.de/10009448076

The Relationship between Short Interest and Stock Returns in the Canadian Market

Ackert, Lucy; Athanassakos, George - 2005

This paper provides new insight into the relationship between short sales and stock market returns using a sample of stocks sold short in Canada. Short interest is defined in relation to trading volume. The results strongly support the assertion that short sales and excess returns are...

Persistent link: https://www.econbiz.de/10009459116