- 期刊
Using Quarterly Earnings to Predict Stock Price
並列摘要
The main purpose of this paper is to develop a stock price prediction model based on quarterly earnings forecasts. The prediction model is based on the residual income model by Ohlson (1995), and adjustment for autocorrelation by Higgins (2009). Prior research has not used quarterly data out of concern for seasonality. However, seasonality can be removed by including four consecutive quarterly terms of abnormal earnings in each price equation. The prediction results suggest that quarterly earnings forecasts can be useful inputs to models of price forecasts.
參考文獻
Higgins, H.,Lu, Q. F.(2009).Predicting stock price by applying the residual income model and bayesian statistics.Advances in Quantitative Analysis of Finance and Accounting.7,71-94.
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Higgins, H. (2009). Forecasting stock price with the residual income model. Working paper, Worcester Polytechnic Institute
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被引用紀錄
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延伸閱讀
- 陳碧霞（2007）。Detection of quarterly earnings management〔碩士論文，中原大學〕。華藝線上圖書館。https://doi.org/10.6840/cycu200700218
- Chan, C. C., Lin, B. H., Fu, Y., & Chen, P. Y. (2018). EARNINGS PERSISTENCE AND INVESTMENT EFFICIENCY. Advances in Financial Planning and Forecasting, (9), 17-52. https://doi.org/10.6291/AFPF.201812_9.0002
- 吳佳鴻（2008）。THE IMPACT OF EARNINGS QUALITY ON STOCK RETURNS〔碩士論文，大同大學〕。華藝線上圖書館。https://www.airitilibrary.com/Article/Detail?DocID=U0081-0607200917243993
- 葉金成、李冠豪（2001）。An Empirical Study for the Casuality between Earnings and Stock Prices。當代會計，2(1)，18-38。https://doi.org/10.6675/JCA.2001.2.1.02
- Han, S., Sun, L., & Zhang, J. H. (2017). EARNINGS QUALITY, STOCK TRADING COMPETITION, AND FIRMS' INVESTMENT EFFICIENCY. Advances in Quantitative Analysis of Finance and Accounting, (15), 79-102. https://doi.org/10.6293/AQAFA.201712_15.0004