Author: Kenneth W. StringerPublisher:
ISBN:
Category :
Languages : en
Pages : 70
Book Description
The Impact of Earnings on Stock Prices
Author: Kenneth W. StringerThe Impact of Earnings Announcements on Stock Prices
Author: Reon OdendaalPublisher:
ISBN:
Category :
Languages : en
Pages : 69
Book Description
The period of 2010-2012 was characterized by information uncertainty and market volatility. Information uncertainty is a critical characteristic of financial market behavior. The ability to absorb and distribute information is central to financial market efficiency. Uncertain corporate earnings information causes stock price volatility which in turn impacts stock price equilibrium levels. An event study shows a picture in time of stock price impacts when information isreleased to financial markets. This picture can give indications of the levels of financial market efficiency. This event study focusses on the earnings announcements and investigates financial market efficiency, post earnings announcement drift and the presence of abnormal returns during the assessed period. This study seeks to add to the existing literature of event studies.
The Handbook of Corporate Earnings Analysis
Author: Brian R. BrucePublisher: Irwin Professional Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 398
Book Description
Impact of Earnings Smoothness on Stock Prices, Stock Returns and Future Earnings Changes - The Polish Experience
Author: Jacek WelcPublisher:
ISBN:
Category :
Languages : en
Pages : 28
Book Description
Capital markets appreciate stability. It means that companies reporting smooth earnings patterns tend to be priced relatively high. However, the empirical issue is whether such valuation premiums for earnings smoothness are justified. We examine the relationships between past five-year earnings smoothness and relative stock prices of companies listed on the Warsaw Stock Exchange. The empirical investigation confirmed that on the Polish market the smooth historical earnings are rewarded with valuation premiums and the erratic earnings are penalized with valuation discounts. However, stocks with smooth past earnings tend to bring sub-par future stock returns while stocks with relatively erratic earnings seem to generate above-average returns. Furthermore, the scope of past earnings smoothness does not show any discernible relationships to realized investment risk measures. Finally, companies with smooth earnings tend to report “negative earnings surprises” and relatively slow earnings growth rates in the following year. All in all, our research suggests that there is not any empirically observable justification for the valuation premiums observed in the case of stocks with smooth past earnings because such smoothness translate neither into relatively low future investment risks nor relatively fast future earnings growth.
Accounting Trends and Techniques: U.S. GAAP Financial Statements--Best Practices in Presentation and Disclosure
Author: AICPAPublisher: John Wiley & Sons
ISBN: 1945498870
Category : Business & Economics
Languages : en
Pages : 800
Book Description
Updated for new accounting and auditing guidance issued, this valuable tool provides hundreds of high quality disclosure examples from carefully selected U.S. companies of different sizes, across industries such as banking, credit and insurance, communication services, and healthcare from such organizations as Scotts Miracle-Gro, Coca-Cola, Caterpillar, and BB&T. Illustrations of the most important, immediate, and challenging disclosures, such as derivatives and hedging, consolidations, and fair value measurement are provided. Hot topics include statement of cash flows, going concern, and business combinations and intangibles. This edition also provides clear, direct guidance to help you understand and comply with all significant reporting requirements and detailed indexes to help you quickly find exactly what you need.
Trading on Corporate Earnings News
Author: John ShonPublisher: FT Press
ISBN: 0132615851
Category : Business & Economics
Languages : en
Pages : 225
Book Description
Profit from earnings announcements, by taking targeted, short-term option positions explicitly timed to exploit them! Based on rigorous research and huge data sets, this book identifies the specific earnings-announcement trades most likely to yield profits, and teaches how to make these trades—in plain English, with real examples! Trading on Corporate Earnings News is the first practical, hands-on guide to profiting from earnings announcements. Writing for investors and traders at all experience levels, the authors show how to take targeted, short-term option positions that are explicitly timed to exploit the information in companies’ quarterly earnings announcements. They first present powerful findings of cutting-edge studies that have examined market reactions to quarterly earnings announcements, regularities of earnings surprises, and option trading around corporate events. Drawing on enormous data sets, they identify the types of earnings-announcement trades most likely to yield profits, based on the predictable impacts of variables such as firm size, visibility, past performance, analyst coverage, forecast dispersion, volatility, and the impact of restructurings and acquisitions. Next, they provide real examples of individual stocks–and, in some cases, conduct large sample tests–to guide investors in taking advantage of these documented regularities. Finally, they discuss crucial nuances and pitfalls that can powerfully impact performance.
The Little Book of Stock Market Profits
Author: Mitch ZacksPublisher: John Wiley & Sons
ISBN: 1118192419
Category : Business & Economics
Languages : en
Pages : 224
Book Description
A timely guide to making the best investment strategies even better A wide variety of strategies have been identified over the years, which purportedly outperform the stock market. Some of these include buying undervalued stocks while others rely on technical analysis techniques. It's fair to say no one method is fool proof and most go through both up and down periods. The challenge for an investor is picking the right method at the right time. The Little Book of Stock Market Profits shows you how to achieve this elusive goal and make the most of your time in today's markets. Written by Mitch Zacks, Senior Portfolio Manager of Zacks Investment Management, this latest title in the Little Book series reveals stock market strategies that really work and then shows you how they can be made even better. It skillfully highlights earnings-based investing strategies, the hallmark of the Zacks process, but it also identifies strategies based on valuations, seasonal patterns and price momentum. Specifically, the book: Identifies stock market investment strategies that work, those that don't, and what it takes for an individual investor to truly succeed in today's dynamic market Discusses how the performance of each strategy examined can be improved by combining into them into a multifactor approach Gives investors a clear path to integrating the best investment strategies of all time into their own personal portfolio Investing can be difficult, but with the right strategies you can improve your overall performance. The Little book of Stock Market Profits will show you how.
Effects of Corporate Earnings Announcements on Stock Prices
Author: Syed B. RazaWhy Are Earnings Announcements So Important to Traders and Investors?
Author: John ShonPublisher: Pearson Education
ISBN: 0132659549
Category : Business & Economics
Languages : en
Pages : 23
Book Description
This Element is an excerpt from Trading on Corporate Earnings News: Profiting from Targeted, Short-Term Options Positions (9780137084920) by John Shon, Ph.D., and Ping Zhou, Ph.D. Available in print and digital formats. Understand those crucial quarterly earning announcements: how they work, and how they impact stock prices. Quarterly earnings announcement are the most salient, most anticipated, regularly-recurring announcement that companies make. They are the most watched piece of information that comes directly from the people that know the business the best. They are also considered the most reliable source of information, largely because companies are subject to strict SEC Rule 10b-5 rules...
Financial Programming and Policy the Case of Turkey (Reprint)
Author: International Monetary FundPublisher: International Monetary Fund
ISBN: 9781557758750
Category : Business & Economics
Languages : en
Pages : 476
Book Description
The art of financial programming is a central element in the design of IMF-supported macroeconomic adjustment programs. This volume, edited by Richard Barth and William Hemphill, includes contributions from staff members of the IMF institute and introduces the reader to the concepts and tools of analysis needed to formulate a financial program. The book presents a series of workshops that explain the accounting identities, behavioral relationships, and forecasting techniques that underlie the constuction of a financial program. The workshops use the case of Turkey to illustrate the techniques, and the complete data set for Turkey is included on a diskette (supplied in a back-cover pocket).