Consecutive earnings forecast revisions and their relationship to stock returns
This item is not available in full-text via OUR Archive.
If you would like to read this item, please apply for an inter-library loan from the University of Otago via your local library.
If you are the author of this item, please contact us if you wish to discuss making the full text publicly available.
Cite this item:
Watt, C. (2001, February 28). Consecutive earnings forecast revisions and their relationship to stock returns (Thesis). Retrieved from http://hdl.handle.net/10523/1380
Permanent link to OUR Archive version:
http://hdl.handle.net/10523/1380
Abstract:
This paper tests whether consecutive forecast revisions of annual EPS have a reinforcing factor effect built in when the consecutive revision is in the same direction. If in fact there is a reinforcing factor effect present, then there should be a relationship between the consecutive monthly revisions and monthly stock returns in the second consecutive revision month. The analysis used 63 New Zealand and 226 Australian companies for the period from June 1989 to May 1998. The analysis indicated that there is no indication of this reinforcing factor effect and only a very small amount (1%) of the return variation can actually be explained by the consecutive forecast revisions.
Date:
2001-02-28
Degree Discipline:
Finance
Pages:
42
Keywords:
Earnings per share; EPS; consecutive monthly revisions; monthly stock returns; New Zealand; Australian; June 1989 to May 1998
Research Type:
Thesis
Collections
- Thesis - Masters [2585]
- Accountancy and Finance [247]