FRS3 and analysts' use of earnings
Article Abstract:
A behavioural methodology can be used to identify evidence to support the findings of market-based research with regard to the market's efficient response to earnings news, the enhanced explanatory power in share price models of permanent, rather than transient, earnings and the market expectations role of analysts' earnings predictions. It was established that analysts regard the announcement of earnings as significant and that they use the elements of the reporting standard FRS3 in identifying a measure of normalized earnings. The Accounting Standards Board clearly plays a significant role in determining the information set on which the market depends.
Publication Name: Accounting and Business Research
Subject: Business
ISSN: 0001-4788
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
Post-earnings-announcement drift: some preliminary evidence for the UK
Article Abstract:
Research on post-earnings-announcement drift (PAD) using data from the London Stock Exchange has found evidence of drift among smaller companies, but not larger firms. There is a need for further research on smaller companies and this research is constrained by data limitations. PAD does not appear to be significant for the biggest one third of firms in the UK. This is in contrast to research on US companies and a comparison betwen large firms in the US and the UK would be useful.
Publication Name: Accounting and Business Research
Subject: Business
ISSN: 0001-4788
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
FRS3 earnings, headline earnings, and accounting-based valuation models
Article Abstract:
Research into measures of book values of shares and earnings per share for UK companies is presented, with focus on the explanatory value of using methods derived from Financial Reporting Standard No. 3, and headline earnings.
Publication Name: Accounting and Business Research
Subject: Business
ISSN: 0001-4788
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: On the costs of a bank-centered financial system: evidence from the changing main bank relations in Japan. Multiple versus single banking relationships: theory and evidence
- Abstracts: The stock market response to earnings announcements released during trading versus nontrading periods. Comparing the accuracy and explainability of dividend, free cash flow, and abnormal earnings equity value estimates
- Abstracts: The ERM and the real shape of the UK recession. Prepare for the pinch. Optimistic about mortgages
- Abstracts: Economic analysis of generic milk advertising impacts on markets in New York State. Determinants of temporal variations in generic advertising effectiveness
- Abstracts: Transaction responses to analysts' earnings forecasts, news type and trader type. Intraday stock price reactions to interim-quarter versus fourth-quarter earnings announcements