Search results for "Earnings persistence"

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On the Asymmetric Recognition of Good and Bad News in France, Germany and the United Kingdom

2001

We investigate whether accounting systems recognise bad news more promptly in earnings than good news, where news is proxied by changes in share price. The analysis is based on a sample of firm/years drawn from France, Germany, and the UK during 1990 to 1998. These three countries are the originators of three distinct legal traditions. Previous studies have argued that asymmetric recognition, one manifestation of conservative accounting, is sensitive to legal background and history. We find that in all three countries the contemporaneous association between earnings and returns is much stronger for bad news (i.e. when price changes are negative) than for good news, and although the results …

Earningsbusiness.industrymedia_common.quotation_subjectControl (management)Earnings persistenceAccountingSample (statistics)Share priceConservatismOptimismAccountingAccounting information systemEconomicsBusiness Management and Accounting (miscellaneous)Demographic economicsbusinessFinancemedia_commonJournal of Business Finance <html_ent glyph="@amp;" ascii="&amp;"/> Accounting

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