The variability of earnings and non-earnings information and earnings prediction

Journal of Business Finance and Accounting

Volumn 26, Issue 7-8, 1999, Pages 863-882

  Shroff, Pervin K ^a  

^a UNIVERSITY OF MINNESOTA   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 25444492037     PISSN: 0306686X     EISSN: 14685957     Source Type: Journal    
DOI: 10.1111/1468-5957.00278     Document Type: Article

References (24)

1. Albrecht, W., L. Lookabill and J. McKeown (1977), 'The Time Series Properties of Annual Earnings', Journal of Accounting Research (Autumn), pp. 226-44.
2. Ali, A. and P. Zarowin (1992), 'The Role of Earnings Levels in Annual Earnings-Returns Studies', Journal of Accounting Research (Autumn), pp. 286-96.
3. Beaver, W.H., R. Lambert and D. Morse (1980), 'The Information Content of Security Prices', Journal of Accounting & Economics (March), pp. 3-28.
4. Brooks, L. and D. Buckmaster (1976), 'Further Evidence of the Time Series Properties of Accounting Income', Journal of Finance (December), pp. 1359-73.
5. Callen, J., C.S. Cheung, C. Kwan and P. Yip (1993), 'An Empirical Investigation of the Random Character of Annual Earnings', Journal of Accounting, Auditing, and Finance, Vol. 8 (Spring), pp. 151-62.
6. Collins, D.W., S.P. Kothari and J.D. Rayburn (1987), 'Firm Size and the Information Content of Prices with Respect to Earnings', Journal of Accounting & Economics, Vol. 9 (July), pp. 111-38.
7. Cox, C. (1987), 'Earnings Variability, Firm Size and the Information Content of Management Forecasts of Annual Earnings', Journal of Accounting & Public Policy (Summer), pp. 139-53.
8. Dickey, D. and W. Fuller (1979), 'Distribution of the Estimators for Autoregressive Time Series with a Unit Root', Journal of the American Statistical Association, Vol. 74, pp. 427-31.
9. Finger, C. (1994), 'The Ability of Earnings to Predict Future Earnings and Cash Flow', Journal of Accounting Research, Vol. 32 (Autumn), pp. 210-23.
10. Freeman, R., J. A. Ohlson and S. Penman (1982), 'Book Rate of Return and Prediction of Earnings Changes: An Empirical Investigation', Journal of Accounting Research (Autumn, Part 2), pp. 639-53.
11. Fried, D. and D. Givoly (1982), 'Financial Analysts' Forecasts of Earnings: A Better Surrogate for Market Expectations', Journal of Accounting & Economics, Vol. 4 (October), pp. 85-107.
12. Granger, C. and P. Newbold (1973), 'Some Comments on the Evaluation of Economic Forecasts', Applied Economics, Vol. 5, pp. 35-47.
13. - - (1986), Forecasting Economic Time Series (Second Edition, Orlando: Academic Press).
14. Harvey, A.C. (1981), The Econometric Analysis of Time Series (Wiley, NY).
15. Holthausen, R.W. and R.E. Verrecchia (1988), 'The Effect of Sequential Information Releases on the Variance of Price Changes in an Intertemporal Multi-Asset Market', Journal of Accounting Research (Spring), pp. 82-106.
16. Maddala, G. S. (1988), Introduction to Econometrics (Macmillan Publishing Company, New York).
17. Mincer, J. and V. Zarnowitz (1969), 'The Evaluation of Economic Forecasts' in Economic Forecasts and Expectations (J.Mincer 1969 ed., New York: National Bureau of Economic Research).
18. Ohlson, J.A. (1991), 'The Theory of Value and Earnings, an Introduction to the Ball-Brown Analysis', Contemporary Accounting Research, Vol. 8 (Fall), pp. 1-19.
19. - (1995), 'Earnings, Book Values, and Dividends in Security Valuation', Contemporary Accounting Research, Vol. 11 (Fall), pp. 661-87.
20. - and P.K. Shroff (1992), 'Changes vs. Levels in Earnings as Explanatory Variables for Returns: Some Theoretical Considerations', Journal of Accounting Research (Autumn), pp. 210-26.
21. Ou, J.A. (1990), 'The Information Content of Non-earnings Accounting Numbers as Earnings Predictors', Journal of Accounting Research (Spring), pp. 144-63.
22. Theil, H. (1966), Applied Economic Forecasting (Amsterdam: North Holland).
23. Watts, R. and R. Leftwich (1977), 'The Time Series of Annual Accounting Earnings', Journal of Accounting Research (Autumn), pp. 253-71.
24. White, H. (1980), 'A Heteroskedasticity-consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity', Econometrica (May), pp. 817-38.