南開科技大學圖書館 |

言語: 日文

ヘルプ

南開科技大學

圖書館首頁

編目中圖書申請

ログイン

前に戻る

スイッチ: ラベル | MARC形式 | 国際標準書誌記述(ISBD)

Essays on fundamental analysis.

Donelson, Dain C.

Essays on fundamental analysis.

レコード種別:	コンピュータ・メディア : 単行資料
タイトル / 著者:	Essays on fundamental analysis./
著者:	Donelson, Dain C.
記述:	86 p.
注記:	Source: Dissertation Abstracts International, Volume: 68-11, Section: A, page: 4760.
含まれています:	Dissertation Abstracts International68-11A.
主題:	Business Administration, Accounting. -
電子資源:	Download PDF (下載PDF全文)
国際標準図書番号 (ISBN):	9780549339854

Essays on fundamental analysis.
Donelson, Dain C.

Essays on fundamental analysis. - 86 p.

Source: Dissertation Abstracts International, Volume: 68-11, Section: A, page: 4760.

Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 2007.

This dissertation examines the usefulness of accounting and other information in the prediction of revenue, earnings and stock returns. In the first chapter, I find that quarterly revenue innovations display higher autocorrelation when quarters are from the same fiscal year ("differential persistence"). Differential persistence of revenue innovations is significantly higher for firms with larger absolute changes in the ratio of accounts receivable to revenue. Differential persistence of revenue innovations affects the differential persistence of earnings innovations. Finally, investors do not fully update earnings expectations for predictable persistence when earnings innovations are sorted based on revenue information and fiscal quarter. Over one quarter, post-earnings announcement drift is 10.44% for a high-persistence portfolio but statistically and economically insignificant for low-persistence portfolios.

ISBN: 9780549339854Subjects--Topical Terms:

1000006273
Business Administration, Accounting.

Essays on fundamental analysis.
LDR:02632nmm 2200277 4500 001 1000005065
005 20081017121308.5
008 081017s2007 ||||||||||||||||| ||eng d
020 $a 9780549339854
035 $a (UMI)AAI3290221
035 $a AAI3290221
040 $a UMI $c UMI{me_controlnum}
100 1 $a Donelson, Dain C. $3 1000006272
245 1 0 $a Essays on fundamental analysis.
300 $a 86 p.
500 $a Source: Dissertation Abstracts International, Volume: 68-11, Section: A, page: 4760.
500 $a Adviser: Theodore Sougiannis.
502 $a Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 2007.
520 $a This dissertation examines the usefulness of accounting and other information in the prediction of revenue, earnings and stock returns. In the first chapter, I find that quarterly revenue innovations display higher autocorrelation when quarters are from the same fiscal year ("differential persistence"). Differential persistence of revenue innovations is significantly higher for firms with larger absolute changes in the ratio of accounts receivable to revenue. Differential persistence of revenue innovations affects the differential persistence of earnings innovations. Finally, investors do not fully update earnings expectations for predictable persistence when earnings innovations are sorted based on revenue information and fiscal quarter. Over one quarter, post-earnings announcement drift is 10.44% for a high-persistence portfolio but statistically and economically insignificant for low-persistence portfolios.
520 $a In the second chapter, I use a fundamental analysis strategy based upon common operating performance metrics to distinguish informative insider trades from noise trades. Insiders who trade consistently with these accounting fundamentals earn higher abnormal returns than the abnormal returns normally earned by insiders or those from the fundamental analysis strategy. A trading strategy based on the combination of publicly available insider trading and accounting data earns annual abnormal returns of approximately 15.1% after controlling for market, size, book-to-market and momentum factors. This trading strategy earns positive returns in each year of the study. These results are consistent with the selected set of insider trades being particularly informative with respect to mispricing.
590 $a School code: 0090.
650 4 $a Business Administration, Accounting. $3 1000006273
690 $a 0272
710 2 $a University of Illinois at Urbana-Champaign. $3 1000005851
773 0 $t Dissertation Abstracts International $g 68-11A.
790 1 0 $a Sougiannis, Theodore, $e advisor
790 $a 0090
791 $a Ph.D.
792 $a 2007
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3290221 $z Download PDF (下載PDF全文)

館藏地: 出版年: 卷號:

館藏

此限制條件找不到符合的館藏，請您更換限制條件。

建立或儲存個人書籤

書目轉出

取書館別