Relation of Conditional and Non-conditional Persistence of Earning Components to Abnormal Stock Returns
This study examines the relation of conditional and non-conditional persistence of earning components to abnormal returns. The conditional persistence has been calculated using the concept of investors’ over-reaction towards accruals and their under-reaction towards sales revenue. The research uses...
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| Format: | Article |
| Language: | fas |
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Alzahra University
2018-04-01
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| Series: | پژوهشهای تجربی حسابداری |
| Subjects: | |
| Online Access: | http://jera.alzahra.ac.ir/article_3224_a33ab78f3ebf89c0feebd90cc7dc90e1.pdf |
| _version_ | 1818584636384608256 |
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| author | Mohsen Sadeghi Mohsen Dastgir Hadi Amiri |
| author_facet | Mohsen Sadeghi Mohsen Dastgir Hadi Amiri |
| author_sort | Mohsen Sadeghi |
| collection | DOAJ |
| description | This study examines the relation of conditional and non-conditional persistence of earning components to abnormal returns. The conditional persistence has been calculated using the concept of investors’ over-reaction towards accruals and their under-reaction towards sales revenue. The research uses multivariate regression method and the statistical sample consists of 66 firms listed in the Tehran Stock Exchange over the period from 2003 to 2016. To test the hypotheses, the panel data method and t-student test is used. The findings show a significant relation of the “the difference of conditional and non-conditional persistence of unexpected revenues” and “unexpected revenues” to “abnormal stock returns”; however, the findings indicate no relation of “differences of conditional and non-conditional persistence of unexpected revenues” and “unexpected earnings” to “abnormal stock returns”. Also, the relation between “the difference of conditional and non-conditional persistence of accruals" and "accrual anomaly" is not confirmed. |
| first_indexed | 2024-12-16T08:24:19Z |
| format | Article |
| id | doaj.art-0ef6abcad84e4710967f96682301ae60 |
| institution | Directory Open Access Journal |
| issn | 2251-8509 2538-1520 |
| language | fas |
| last_indexed | 2024-12-16T08:24:19Z |
| publishDate | 2018-04-01 |
| publisher | Alzahra University |
| record_format | Article |
| series | پژوهشهای تجربی حسابداری |
| spelling | doaj.art-0ef6abcad84e4710967f96682301ae602022-12-21T22:38:02ZfasAlzahra Universityپژوهشهای تجربی حسابداری2251-85092538-15202018-04-017310312810.22051/jera.2017.18026.18513224Relation of Conditional and Non-conditional Persistence of Earning Components to Abnormal Stock ReturnsMohsen Sadeghi0Mohsen Dastgir1Hadi Amiri2Department of Accounting, Isfahan (Khorasgan) Branch, Islamic Azad University, Isfahan, IranProfessor of Accounting, Isfahan UniversityAssistant Professor of Economics, Isfahan UniversityThis study examines the relation of conditional and non-conditional persistence of earning components to abnormal returns. The conditional persistence has been calculated using the concept of investors’ over-reaction towards accruals and their under-reaction towards sales revenue. The research uses multivariate regression method and the statistical sample consists of 66 firms listed in the Tehran Stock Exchange over the period from 2003 to 2016. To test the hypotheses, the panel data method and t-student test is used. The findings show a significant relation of the “the difference of conditional and non-conditional persistence of unexpected revenues” and “unexpected revenues” to “abnormal stock returns”; however, the findings indicate no relation of “differences of conditional and non-conditional persistence of unexpected revenues” and “unexpected earnings” to “abnormal stock returns”. Also, the relation between “the difference of conditional and non-conditional persistence of accruals" and "accrual anomaly" is not confirmed.http://jera.alzahra.ac.ir/article_3224_a33ab78f3ebf89c0feebd90cc7dc90e1.pdfAccrualCash flowConditional persistence |
| spellingShingle | Mohsen Sadeghi Mohsen Dastgir Hadi Amiri Relation of Conditional and Non-conditional Persistence of Earning Components to Abnormal Stock Returns پژوهشهای تجربی حسابداری Accrual Cash flow Conditional persistence |
| title | Relation of Conditional and Non-conditional Persistence of Earning Components to Abnormal Stock Returns |
| title_full | Relation of Conditional and Non-conditional Persistence of Earning Components to Abnormal Stock Returns |
| title_fullStr | Relation of Conditional and Non-conditional Persistence of Earning Components to Abnormal Stock Returns |
| title_full_unstemmed | Relation of Conditional and Non-conditional Persistence of Earning Components to Abnormal Stock Returns |
| title_short | Relation of Conditional and Non-conditional Persistence of Earning Components to Abnormal Stock Returns |
| title_sort | relation of conditional and non conditional persistence of earning components to abnormal stock returns |
| topic | Accrual Cash flow Conditional persistence |
| url | http://jera.alzahra.ac.ir/article_3224_a33ab78f3ebf89c0feebd90cc7dc90e1.pdf |
| work_keys_str_mv | AT mohsensadeghi relationofconditionalandnonconditionalpersistenceofearningcomponentstoabnormalstockreturns AT mohsendastgir relationofconditionalandnonconditionalpersistenceofearningcomponentstoabnormalstockreturns AT hadiamiri relationofconditionalandnonconditionalpersistenceofearningcomponentstoabnormalstockreturns |