Objective estimation versus subjective perceptions of earnings patterns and post-earnings-announcement drift

We investigate how the market's subjective estimates of autocorrelation in quarterly earnings vary with objective time‐series estimates. Our results suggest that investors increasingly underestimate the correlation as the autocorrelation level increases, and as a result, the post‐earnings‐annou...

Ausführliche Beschreibung

Bibliographische Detailangaben

Veröffentlicht in:	Accounting and finance (Parkville) 2014-06, Vol.54 (2), p.305-334
Hauptverfasser:	Bathke Jr, Allen W., Morton, Richard M., Notbohm, Matthew, Zhang, Tianming
Format:	Artikel
Sprache:	eng
Schlagworte:	Correlation analysis Earnings announcements Earnings forecasting Information environment Market inefficiency Post-earnings-announcement drift Studies Time series
Online-Zugang:	Volltext
Tags:	Tag hinzufügen Keine Tags, Fügen Sie den ersten Tag hinzu!