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This study investigates the differential role of investor sentiment on the value relevance of book value versus earnings. I predict and find that the value relevance of book value is higher during low sentiment periods relative to high sentiment periods, and that the value relevance of earnings...
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EBITDA) earnings but not for firms disclosing underlying net profit. For the first group the adjusting items are not … informative, but only for firms basing adjustments and reconciliations on operating profit …
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This study examines the value relevance of book value, earnings and dividends for a sample of all non-financial firms listed on the Kuwait Stock Exchange (KSE) over the period 2003–2009. After controlling for the impact of the global financial crisis, empirical results provide evidence on the...
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