Influence Of Earnings Research Articles

THE INFLUENCE OF MARKET RATIO ON CUMULATIVE ABNORMAL RETURNS IN COMPANIES LISTED ON THE JAKARTA ISLAMIC INDEX (JII)

This research was conducted to test whether there is an influence of earnings per share and price earnings ratio on the Cumulative Abnormal Return of 14 companies listed on the Jakarta Islamic index during 2020-2022. This research uses field research, this research uses quantitative research methods. The approach used in this research is an associative approach which aims to determine the relationship between two or more variables. With data collection techniques in the form of documentation using primary data sourced from secondary data, and processing using E-Eviws 12 (X64). There is a statistical analysis technique with 14 companies selected using the purposive sampling method registered in the Jakarta Islamic Index during 2020-2022. The research results obtained show 1) Earning Per Share has no positive influence and is not significant on Cumulative Abnormal Return. This is proven by the t-test carried out, where a value of 0.9314 > 0.05 was obtained, so it can be concluded that H1 is rejected. 2) Price Earning Ratio has no positive influence and is not significant on the Cumulative Abnormal Return value. This is proven by the t-test carried out, where a value of 0.9287 > 0.05 was obtained, so it can be concluded that H2 is rejected. 3) Simultaneously Earning Per Share and Price Earning Ratio do not have a positive and insignificant influence on Cumulative Abnormal Return which has been proven from the F-Test results where a value of 0.986304 > 0.05 is obtained, so it can be concluded that H4 is rejected.

Influence of Earnings on Market Share Prices of Firms Listed at the Nairobi Securities Exchange

Influence of Earnings on Market Share Prices of Firms Listed at the Nairobi Securities Exchange

Influence of Earnings per Share on Idiosyncratic Volatility of Stock Returns among Listed Firms in Kenya

Idiosyncratic volatility has not always been considered in pricing of financial assets; this is as a result of capital asset pricing model’s proposition that idiosyncratic volatility is diversifies away and that investors hold portions of diversified portfolio. In reality however, this is not always the case. Research studies have revealed that investors do not always hold diversified portfolios and idiosyncratic risk is therefore priced in order to compensate their inability to hold the market portfolio, therefore the main objective of the study was to establish the effect of financial statement information on idiosyncratic volatility of stocks return among listed firms in Kenya. Idiosyncratic volatility was the dependent variable while independent variable was Earning Per Share (EPS). The study used correlational and descriptive research design, it also used census technique which targeted all 39 listed companies that existed and their shares were actively traded at the Nairobi Securities Exchange (NSE) from the year 1998 to 2017. STATA was used to generate Descriptive and inferential statistics. The study employed a dynamic panel data regression model, the analysis of variance (ANOVA) was used to reveal the overall model significance, the calculated F-statistic was compared with the tabulated F-statistic and a critical p-value of 0.05 was used to determine whether the overall model is significant. The study results found that there was a positive and significant relationship between EPS and Idiosyncratic Volatility of stock returns among listed firms in Kenya (r= 0.001, p=0.027), and therefore the null hypotheses were rejected. Based on the findings, the study concluded that, EPS has a significant relationship with Idiosyncratic Volatility of stock returns among listed firms in Kenya. The study recommended that market investors analyst should review their investment strategies taking into consideration EPS in pricing firm specific risk. These indicators will further guide in expanding the interpretation of the financial dynamics in the listed firms at the NSE and other related firms. Keywords : Earnings per Share, Idiosyncratic Volatility, Stock Returns, NSE & Kenya. DOI : 10.7176/RJFA/10-22-03 Publication date: November 30 th 2019

Financial investment risks in parmaceutical industry: analysis on fluctuation of stock price

With the constant development of market economy, medical industry is developing rapidly, and many listed pharmaceutical companies have emerged. Stock price is an important standard for measuring the industrial development condition, and its influence factors are concerned by investors and issuing enterprises all the time. In this study, the factors affecting stock price were investigated taking the stock price of listed pharmaceutical companies in Shanghai in 2016 as the research samples and using correlation analysis and regression analysis. Variables such as earnings per share, drug price policies and quick ratio were introduced for correlation analysis. The research results suggested that the influence of earnings per share on stock price was the largest; the higher the earnings per share, the higher stock price; interest rate could also affect the fluctuation of stock price. This works aims to offer an evidence for investors who are subject to invest listed pharmaceutical companies.

PENGARUH EARNING PER SHARE (EPS) DAN PRICE BOOK VALUE (PBV) TERHADAP HARGA SAHAM PADA INDUSTRI RETAIL YANG TERDAFTAR DI BEI PERIODE 2013-2016

The purpose of this studyis to find out how the influence of earnings per share (EPS) and price book value (PBV) simultaneously and parcial to stock prices in retail industry listed on the Stock Exchange Indonesia period 2013-2016. The ojek this analysis is the retail industry listed on the stock exchange indonesia period 2013-2016. Sampel used in this research is as many as 8 retail industry listed on the Stock Exchange Indonesia period 2013-2016. The method used is qualitative and quantitative method. . The analytical tool used in this research is multiple linear regression analysis, the classical assumption test (normality, multicolinearity, hetoroscedasicity, and autocorrelation) and coefficient of determination. Based on the results of multiple linear regression analysis showed the equation Log Y= 2.244 + Log 0,528EPS Log 0,018PBV + e , with F test value of 5,153. Value t test for earning per share (EPS) of 3,159 and the value of T test for price book value (PBV) of 0,113. Rated R Square 26,2%, while the remaining 73,8% explained other factors beyond the study models. And the R value of 0,512. The conclusion of this research indicates that simultaneously independent variable earnings per share (EPS) and price book value (PBV) have an effect on stock price variable. The parcial price (PBV) has no significant effect on stock price dependent and earnings per share (EPS) have a significant effect on stock price variables.

The Influence of Earnings Management, Audit Quality and CEO Duality on Tax Avoidance

This study a ims to get t h e empirical evidence about the influence ofearnings management, audit quality and CEO duality on the tax avoidance. Taxavoidance has used an effective tax rate (ETR) by calculating the corporate taxesexpenses divided by the earnings before income and tax during a certain period.Population of this research are the manufacturing companies in IndonesiaStock Exchange in 2014-2016 which 48 companies are using the purposive samplingtechnique. Methods of data analysis has applied the descriptive statistical analysisand multiple linear regression.These results have indicated that earnings management, audit quality andCEO duality have had a significant effect simultaneously on the tax avoidance.However, partial test results have shown that the audit quality and CEO dualityhave not affected the tax avoidance. While the earnings manegement has had asignificant effect on the tax avoidance.

EARNINGS MANAGEMENT AND DIVIDEND POLICY OF SMALL AND MEDIUM ENTERPRISES IN THAILAND1

This study aims to examine earnings management of 51 small and medium enterprises listed inMarket for Alternative Investment (MAI) of Thailand during 2005 – 2012. Earnings managementin this study is measured by discretionary accruals based on Kasznik Model (Kasznik, 1999) andKothari Model (Kothari et al., 2005). Additionally, this study also investigates the influence ofearnings management on dividend policy of these companies which are measured bytwo indicators, including dividend payout ratio and dividend yield, by employing fixed andrandom effects regression analyses. The findings reveal that listed companies in MAI had highearnings management due to high average discretionary accruals in absolute term whichequalled 11.91 percent of total assets based on Kasznik Model and 12.55 percent of total assetsbased on Kothari Model. Moreover, earnings management is found to have the positive influenceon dividend yield of listed companies in MAI. That is, one percent increase in discretionaryaccruals in absolute term as percentage of total assets will lead to about 0.2 percent increasein dividend yield. In contrast, earnings management is found to have no influence on dividendpayout ratio.Keywords: Earnings Management; Earnings Quality; Dividend Policy; SMES; Market forAlternative Investment; Thailand.

Empirical Analysis of Chinese Labor Supply Decisions from a Dynamic Perspective: Evidence from Hangzhou Cabdrivers

According to the life-cycle theory of labor supply, labor supply of workers responds positively to short-term wage volatility. However, many researches find the elasticity of foreign cabdrivers' labor supply to wages is negative. How about Chinese cabdrivers? This paper uses GPS trip information of Hangzhou cabs to investigate the endotaxy-based and extensionality-based labor supply of drivers. To address the endophytism problem caused by measurement error and peer effect, it uses the number of fares with long trips the drivers encounter that very day as the instrument variable for earnings per hour to analyze the influence of earnings per hour on drivers' labor supply. It argues that the elasticity of endotaxy-based and extensionality-based labor supply of Hangzhou cabdrivers to wages is significantly positive, showing that government policies such as the increase in oil subsidies are actually effective incentives to raise cabdrivers' labor supply. Meanwhile, it also implies that the release from the price regulation of taxi market can help drivers to optimize their work decisions better according to the market demands.

Effects of Financial Decisions on Farm Profitability in the Republic of Macedonia: Evidence from a Transition Economy

In transition countries, farm businesses can suffer financial distress due to the restructuring of the agricultural sector and irregularities in capital and credit markets. By applying econometric techniques, the authors examine the influence of earnings, capital and financial business structures on the profitability of farm companies, and assess their capital structure strategy to increase profitability. The results show that farm companies rely more on debt than equity to operate. Financial risk is considered in long-term decisions, while in the short term pricing flexibility is a limitation. Farm companies without liquidity constraints follow the ‘pecking-order’ pattern, preferring assets rather than debt to profit, while liquidity-constrained companies are more consistent with ‘trade-off’ theory. The authors define a typical farm that exhibits increasing opportunities for profit under transition circumstances.

Assessing the Value Relevance of Accounting Data After the Introduction of IFRS in Europe

AbstractSince 2005, European‐listed companies have been required to prepare their consolidated financial statements in accordance with the International Financial Reporting Standards (IFRS). We examine whether value relevance increased following the introduction of IFRS, using a sample of 3,721 companies listed on five European stock exchanges: Frankfurt, Madrid, Paris, London, and Milan. We find mixed evidence of an increase in value relevance. However, the influence of earnings on share price increased following the introduction of IFRS in Germany, France, and the United Kingdom, while the influence of book value of equity decreased (except for the United Kingdom).

The Influence of Earnings and Tax Management motivated by Tax Smoothing on Book-Tax Income Differences

The Influence of Earnings and Tax Management motivated by Tax Smoothing on Book-Tax Income Differences

The influence of earnings on income distribution in the United States

This article discusses whether the so called “skill-biased technological change” hypothesis is able to explain the individual earnings inequality in the U.S. during the period 1968–2000. Using the statistic information supplied by the Census Bureau and the Bureau of Labor Statistics, the article analyzes the earnings evolution, explaining the reasons why earnings inequality has increased, and the relation of this increase with the household income distribution. The main conclusions are the following: (a) changes on labor productivity are not the main cause of the increase in earnings’ inequality, and (b) this earnings’ inequality is not the only reason for the increase of the households’ income inequality.

Where are the new fathers? German families with a non-traditional distribution of professional and family work

The concepts 'new fathers' and 'new men' reflect changed attitudes about gender roles today. However, at a behavioural level, the traditional division of labour in families has proved tenacious. Wage differences between the sexes are believed to be a main reason for this. This German pilot project examined the division of labour of couples, to pursue the question of what consequences a couple's relative earnings have for a cooperative role structure as well as for the transition to parenthood. Qualitative interviews were conducted with both partners in 25 couples in which the woman's earnings were as high as or higher than those of the man. The results show clear deviations from the 'standard model', thereby indicating the significant influence of earnings. Most couples divided parental leave so that neither partner had to drop out of employment for a long period of time. The egalitarian role distribution had a positive effect on the relationship between parents and on satisfaction with this relationship. RESUMEN Los conceptos de 'padre moderno' y 'hombre nuevo' reflejan actitudes cambiadas sobre papeles de los sexos hoy en día. No obstante, al nivel de comportamiento, la división tradicional de trabajo ha sido tenaz. Se cree que esto surge principalmente de diferencias de sueldos entre los sexos. Éste proyecto piloto alemán evaluó la división de trabajo entre parejas para averiguar las consecuencias de los ingresos relativos de una pareja en la estructura cooperativa de papeles de sexo, además de el la transición a ser padres. Se llevaron a cabo entrevistas cualitativas con ambos compañeros de 25 parejas donde los ingresos de las mujeres eran iguales o superior a los del hombre. Los resultados muestran desviaciones claras del 'modelo estándar' señalando la considerable influencia de los ingresos. La mayoría de parejas compartían la baja por paternidad/maternidad para que ninguna persona tuviera que abandonar su empleo durante mucho tiempo. La distribución igualitaria de papeles afectó positivamente a la relación entre los padres y a su satisfacción con la relación.

FUNDAMENTAL INFORMATION ANALYSIS: AN EXTENSION AND UK EVIDENCE

This paper reports a replication and extension of the Fundamental Information Analysis of Lev & Thiagarajan (1993). Using data for a large sample of UK companies we examine the improvements in explanatory value that are achievable by allowing for both macro-economic state and industry variation in the response parameters of non-earnings signals. We interpret this evidence as a test of the beliefs of previous researchers who have suggested that the influence of non-earnings signals is likely to be more conditional than the influence of earnings. In particular we find that the most informative non-earnings signals are those relating to the operating margins and/or cost management of the firm. The final section of the paper reports the UK evidence for the existence of an inverse relation between the Lev & Thiagarajan measure of earnings quality and earnings response coefficients. In contrast to Lev & Thiagarajan we find no significant relation for UK companies.

The influence of earnings per share on capital issues: some evidence from UK companies

This paper investigates the simple hypothesis that when companies issue more capital, they have a tendency to select the type of capital, all other things being equal, which results in the higher short-term earnings per share (eps). The methodology employs probit analysis to test the hypothesis that the form of issue selected was that which gave the higher eps after controlling for other factors such as leverage and industry classification. The results lead us to conclude that there is evidence in capital issues of functional fixation on eps.

Higher education and early life outcomes

A multidimensional view of the impact of higher education is presented. The influence of earnings on three other life outcomes is considered. Data from a follow-up of students in the United States who had earlier participated in the Freshmen Norms Survey of the Cooperative Institutional Research Program (CIRP) indicate the distinctiveness of selected outcomes. A different developmental process is suggested for each. Controlling for other inputs, we found possible impacts of higher education on earnings attainment and liberalism-conservatism, but not on later job and life satisfaction.

THE INFORMATION CONTENT OF DIVIDEND CHANGES

AbstractIn this study, the open empirical question as to whether or not dividends contain information is investigated. The study involves 200 stocks and 376 dividend announcements over the 1971 to 1977 period; measures of unexpected dividends are related to measures of abnormal returns for dividend changing stocks. This study is important for three reasons: A tested ex ante dividend expectational model is used; The analysis is centered on daily, as opposed to monthly, returns; and, The influence of earnings on stock price is controlled explicitly. The evidence indicates that abnormal stock returns vary in sign with unexpected dividends. The results are consistent with the hypothesis that dividends contain information.

Labor-Force Participation and Employment Opportunities for Women

Abstract Studies of labor-force participation have heretofore stressed the influence of earnings as a determinant of the proportion of the population that seeks employment. Low earnings are associated with high propensities to engage in the labor force. The variation in labor-force participation is greater among females than among males in the large cities of the United States. This study points out that high female labor-force participation rates are found in communities in which large numbers of jobs suitable for women are found in textile, apparel, tobacco, and electrical machinery manufacturing. Conversely, low labor-force participation among women is found in communities in which the dominant industries are iron and steel, machinery, automobile, and basic rubber manufacturing. It is the thesis of this paper that the availability of employment opportunities for women is a major factor in determining labor-force participation.