Is there a relationship between accounting and stock market returns in Brazil?

Is there a relationship between accounting and stock market returns in Brazil?

This paper examines the relationship between accounting and stock market returns of Brazilian companies on a quarterly basis. The sample consisted of 97 companies with stocks traded in the Sao Paulo Stock Exchange from January of 1995 to March of 2007. A Granger causality test was applied to the two...

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Bibliographic Details
Main Authors: César Medeiros Cupertino, Roberto Meurer, Newton Carneiro Affonso da Costa Jr.
Format: Article
Language:English
Published: Brazilian Society of Finance 2007-12-01
Series:Revista Brasileira de Finanças
Subjects:
Granger causality
quarterly earnings
market returns
market efficiency
Online Access:http://virtualbib.fgv.br/ojs/index.php/rbfin/article/view/1170

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