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Forecasting profitability and earnings: a study of the UK market (1982–2000)
16 references·0 citing·41 second hop
Forecasting profitability and earnings: a study of the UK market (1982–2000) (2005)Forecasting profitability and earnings: a…Capital markets research in accounting (2001)Capital markets research in a…Forecasting Profitability and Earnings (2000)Forecasting Profitability and…Equity Valuation and Negative Earnings: The Role of Book Value of Equity (1999)Equity Valuation and Negative…The conservatism principle and the asymmetric timeliness of earnings1 (1997)The conservatism principle an…An analysis of intertemporal and cross-sectional determinants of earnings response coefficients (1989)An analysis of intertemporal …Accounting Measurement, Price-Earnings Ratio, and the Information Content of Security Prices (1989)Accounting Measurement, Price…The Persistence of Profits: A European Comparison (1988)The Persistence of Profits: A…Profits in the Long Run (1986)Profits in the Long RunBook Rate-of-Return and Prediction of Earnings Changes: An Empirical Investigation (1982)Book Rate-of-Return and Predi…The Persistence of Profits above the Norm (1977)The Persistence of Profits ab…FURTHER EVIDENCE OF THE TIME SERIES PROPERTIES OF ACCOUNTING INCOME (1976)FURTHER EVIDENCE OF THE TIME …Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…SOME TIME SERIES PROPERTIES OF ACCOUNTING INCOME (1972)SOME TIME SERIES PROPERTIES O…The Behavior of Stock-Market Prices (1965)The Behavior of Stock-Market …Dividend Policy, Growth, and the Valuation of Shares (1961)Dividend Policy, Growth, and …Capitalism, Socialism, and Democracy. (1951)Capitalism, Socialism, and De…Accounting earnings and cash flows as measures of firm performance (1994)Earnings, Book Values, and Dividends in Equity Valuation* (1995)The information content of losses (1995)Does EVA® beat earnings? Evidence on associations with stock returns and firm values (1997)Perspectives on Recent Capital Market Research (2002)The value relevance of environmental performance (2005)An Empirical Evaluation of Accounting Income Numbers (1968)Dividend Policy under Asymmetric Information (1985)Positive Accounting Theory (1985)The effect of international institutional factors on properties of accounting earnings (2000)Performance matched discretionary accrual measures (2005)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)DISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES (1956)Portfolio Selection: Efficient Diversification of Investments (1959)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Conditional Heteroskedasticity in Asset Returns: A New Approach (1991)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Cross-Section of Expected Stock Returns (1992)On Persistence in Mutual Fund Performance (1997)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Pricing of Options and Corporate Liabilities (1973)Determinants of corporate borrowing (1977)An Intertemporal Capital Asset Pricing Model (1973)Earnings Asan Explanatory Variable for Returns (1991)Does Greater Firm‐Specific Return Variation Mean More or Less Informed Stock Pricing? (2003)Judgment under Uncertainty: Heuristics and Biases (1974)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Common risk factors in the returns on stocks and bonds (1993)Econometrics of Event Studies**We thank Espen Eckbo, Jon Lewellen, Adam Kolasinski, and Jay Ritter for insightful comments, and Irfan Safdar and Alan Wancier for research assistance. (2007)Driven to Distraction: Extraneous Events and Underreaction to Earnings News (2009)Investor Inattention and Friday Earnings Announcements (2009)Chapter 16 Inter-industry studies of structure and performance (1989)Determinants of profitability in European manufacturing and services: evidence from a dynamic panel model (2005)Schumpeter's ghost: Is hypercompetition making the best of times shorter? (2005)Ratio Analysis and Equity Valuation: From Research to Practice (2001)The Stock Market and Corporate Investment: A Test of Catering Theory (2008)Manager sentiment and stock returns (2018)An Introduction to Varieties of Capitalism (2001)Varieties of Capitalism (2001)Political power beyond the State: problematics of government (2010)
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References

  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1965The Behavior of Stock-Market Prices8,707 cited
  • 1961Dividend Policy, Growth, and the Valuation of Shares6,554 cited
  • 1997The conservatism principle and the asymmetric timeliness of earnings13,988 cited
  • 1951Capitalism, Socialism, and Democracy.3,565 cited
  • 2001Capital markets research in accounting2,575 cited
  • 1989An analysis of intertemporal and cross-sectional determinants of earnings response coefficients1,685 cited
  • 2000Forecasting Profitability and Earnings857 cited
  • 1999Equity Valuation and Negative Earnings: The Role of Book Value of Equity745 cited
  • 1986Profits in the Long Run595 cited
  • 1972SOME TIME SERIES PROPERTIES OF ACCOUNTING INCOME454 cited
  • 1982Book Rate-of-Return and Prediction of Earnings Changes: An Empirical Investigation405 cited
  • 1988The Persistence of Profits: A European Comparison325 cited
  • 1977The Persistence of Profits above the Norm322 cited
  • 1989Accounting Measurement, Price-Earnings Ratio, and the Information Content of Security Prices298 cited
  • 1976

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FURTHER EVIDENCE OF THE TIME SERIES PROPERTIES OF ACCOUNTING INCOME
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