Can Earnings Innovations Explain The Inverse Relationship Between Unanticipated Inflation And Stock Returns?

2011 ◽  
Vol 9 (2) ◽  
pp. 10 ◽  
Author(s):  
Jon A. Hooks
Keyword(s):  
Stock Returns ◽  
Stock Return ◽  
Inverse Relationship ◽  
Explanatory Power ◽  
Earnings Forecast ◽  
Capitalization Rate ◽  
Relationship Of ◽  
The Impact ◽  
The Relationship ◽  
Unanticipated Inflation

Hooks (1991) argues that the explanatory power of unanticipated inflation in stock return models appears to result from the relationship of unanticipated inflation with the earnings capitalization rate and not the impact inflation has on the level or growth rate of earnings. Here we extend this line of investigation by examining the relationship between unanticipated inflation and the earnings innovation extracted from a univariate earnings forecast. We show that unanticipated inflation has no significant relationship with innovations in conventional earnings. However, we find that unanticipated inflation has a significant positive relationship with the magnitude of the earnings innovation during the 1955-85 period when earnings are adjusted to account for the effects of inflation on firms assets and liabilities.

scholarly journals The Impact of Corporate Cultural Behaviour on Common Stock Return: Some Implications for Corporate Governance

2018 ◽  
Vol 80 (1) ◽  
pp. 115-130
Author(s):  
Chamil W. Senarathne
Keyword(s):  
Corporate Governance ◽  
Stock Returns ◽  
Stock Return ◽  
Stock Exchange ◽  
Common Stock ◽  
Listed Firms ◽  
It Impacts ◽  
Research Questions ◽  
The Impact ◽  
The Relationship

AbstractThis paper examines the relationship between common stock return and corporate cultural behaviour of twenty listed firms from Shanghai Stock Exchange. The particular research questions of this study include: whether corporate cultural behaviour impacts common stock returns and under what conditions it impacts shareholder expectations and corporate governance.

Doping scandals in professional cycling: impact on primary team sponsor’s stock return

2016 ◽  
Vol 17 (1) ◽  
pp. 37-55 ◽  
Author(s):  
Karen Danylchuk ◽  
Jelmer Stegink ◽  
Katie Lebel
Keyword(s):  
Stock Returns ◽  
Stock Return ◽  
Grand Tour ◽  
Content Type ◽  
Time Period ◽  
Study Methodology ◽  
The Impact ◽  
The Relationship ◽  
Professional Cycling ◽  
Event Study Methodology

Purpose – The purpose of this paper is to examine the impact of doping scandals (n=25) in professional cycling Grand Tour events on the primary team sponsor’s daily stock return. Design/methodology/approach – Event study methodology. Findings – Overall it was found that during the time period and events under examination in this study doping scandals had no significant impact on the primary team sponsor’s stock returns. Originality/value – There is limited research to explain the economic impact of widespread doping in cycling and its commercial shareholders. This study addresses this gap by examining the relationship between doping scandals in professional cycling and the daily stock return of the involved team’s primary sponsor.

scholarly journals Profitability, Earnings Per Share on Stock Return with Size as Moderation

TRIKONOMIKA ◽  
2017 ◽  
Vol 16 (2) ◽  
pp. 88
Author(s):  
Jumawan Jasman ◽  
Muhammad Kasran
Keyword(s):  
Stock Returns ◽  
Stock Return ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Absolute Difference ◽  
Earnings Per Share ◽  
Relationship Of ◽  
The Relationship

The purpose of this study was to analyze the effect of profitability and earnings per share on stock returns and the role of size as a moderating variable in state-owned companies listed in the Indonesia Stock Exchange (IDX) in the period of 2011-2016. By using purposive sampling, the number of samples included 18 companies. Method was conducted by downloading summary of financial statements in the Indonesia Stock Exchange. The research began with classical assumption test, multiple linear regression analysis was done with the absolute difference test. The research found that profitability had no effect on stock return. Earnings per share and size had a significant negative effect on stock return. The role of size as a moderating variable strengthened the relationship of earnings per share with stock returns, but it did not play a role in the relationship of profitability with stock returns. 

scholarly journals The Multifactorial Pastor-Stambaugh model: explaining the impact of liquidity on the rate of return based on the example of the Warsaw Stock Exchange

Equilibrium ◽  
2017 ◽  
Vol 12 (2) ◽  
pp. 211
Author(s):  
Agata Gniadkowska-Szymańska
Keyword(s):  
Stock Returns ◽  
Stock Return ◽  
Stock Exchange ◽  
Value Added ◽  
Rate Of Return ◽  
Warsaw Stock Exchange ◽  
Incremental Rate ◽  
Finance Theory ◽  
The Impact ◽  
The Relationship

Research background: The liquidity of assets in the financial market is under-stood gener-ally as costs, and the easiest way in which different types of assets can be converted into cash, or to put it simply, sold at the currently available price on the market. For a considerable period of time this category had not been duly considered in the framework of modern finance theory. As a result, a number of basic models constructed within the framework of this theory in its classical form did not include problems with liquidity. This applies to a number of aspects related to liquidity, with one of the most important being the relationship between the liquidity of trading in shares and the results obtained from these rates of return.Purpose of the article: The aim of the article is to determine whether the rate of return on shares increases with the increase in share liquidity and the incremental rate of return on this account decreases with increasing liquidity. The applied re-search methodology is similar to that described by Pastor and Stambaugh (2003). The model used in the empirical study is the expanded model of Fama and Francha (1993) for the liquidity factor.Methods: In this paper I present various factors which will affect the liquidity. The paper will also provide the results of research concerning the relations between spread and stock return on the Warsaw Stock Exchange (WSE). The evidence drawn from WSE stock returns over the period 2004–2012 indicates that Amihuda measure and other variables have a significant effect on stock return using the multifactorial Pastor-Stambaugh.Findings & Value added: In the case of the Polish market, it can be stated that in the analysis based on the Pastor-Stambaugh model not all the variables included in this model are statistically significant. However, directional parameters associated with liquidity risk were statistically significant in all analyzed periods, which allows us to confirm the hypothesis that liquidity has a significant influence on the rate of return on shares listed on the Stock Exchange in Warsaw.

Business: Making Cents of Coding Systems: Billing for Professional Services

2010 ◽  
Vol 20 (1) ◽  
pp. 3-8
Author(s):  
Dee Adams Nikjeh
Keyword(s):  
Professional Services ◽  
Speech Language Pathology ◽  
Coding Systems ◽  
Language Pathology ◽  
Program Funding ◽  
Fee Schedule ◽  
Procedure Codes ◽  
Relationship Of ◽  
The Impact ◽  
The Relationship

Abstract Administrators and supervisors face daily challenges over issues such as program funding, service fees, correct coding procedures, and the ever-changing healthcare regulations. Receiving equitable reimbursement for speech-language pathology and audiology services necessitates an understanding of federal coding and reimbursement systems. This tutorial provides information pertaining to two major healthcare coding systems and explains the relationship of these systems to clinical documentation, the Medicare Physician Fee Schedule and equitable reimbursement. An explanation of coding edits and coding modifiers is provided for use in those occasional atypical situations when the standard use of procedural coding may not be appropriate. Also included in this tutorial is a brief discussion of the impact that the Medicare Improvements for Patients and Providers Act of 2008 (HR 6331 Medicare Improvements for Patients and Providers Act [MIPPA], 2008) has had on the valuation of speech-language pathology procedure codes.

scholarly journals The Relationship of CSR Communication on Social Media with Consumer Purchase Intention and Brand Admiration

2021 ◽  
Vol 16 (5) ◽  
pp. 1217-1230
Author(s):  
Shuchi Gupta ◽  
Nishad Nawaz ◽  
Adel Abdulmhsen Alfalah ◽  
Rana Tahir Naveed ◽  
Saqib Muneer ◽  
...  
Keyword(s):  
Social Media ◽  
Purchase Intention ◽  
Structural Equation ◽  
Mediating Effect ◽  
Equation Modeling ◽  
Csr Communication ◽  
Consumer Purchase Intention ◽  
Relationship Of ◽  
The Impact ◽  
The Relationship

With the advent of the Internet and other digital technologies, contemporary businesses from all sectors are using social media for communication with consumers to engage them meaningfully with a brand. However, the use of social media for corporate social responsibility (CSR) communication is relatively new to the existing literature. Likewise, the impact of CSR communication through social media (CSR-S) on consumer emotions and behavior is, to date, underexplored. To address this, the present research aims to test the relationship of CSR-S on brand admiration and consumer purchase intention. The study proposes a direct relationship between CSR-S and purchase intention with a mediating effect of brand admiration. The data were collected from the banking consumers of Pakistan through a self-administered questionnaire. The authors distributed 800 questionnaires and received 463 questionnaires useful for data analysis, so the present research study response rate was around 59%. The data were analyzed using the structural equation modeling (SEM) technique in AMOS. The results revealed that CSR-S is positively related to purchase intention (β = 0.233). The results further showed that brand admiration partially mediates this relationship (β = 0.079). The survey respondents confirmed that their bank’s CSR communication helps enhance their purchase likelihood and their feelings of admiration for their bank. These findings will help policymakers at banking institutions better understand the importance of CSR communication on different social media platforms to achieve consumer-related outcomes.

scholarly journals Ethics of Retailers and Consumer Behavior in E-Commerce

2020 ◽  
Vol 11 (1) ◽  
pp. 107-126
Author(s):  
Zhi Yang ◽  
Quang Van Ngo ◽  
Chung Xuan Thi Nguyen
Keyword(s):  
Electronic Commerce ◽  
Communication Technology ◽  
Purchase Intention ◽  
Purchase Decision ◽  
Information Communication ◽  
Significant Relationships ◽  
Online Retailers ◽  
Relationship Of ◽  
The Impact ◽  
The Relationship

In the era of the information-communication technology with the development of electronic commerce, consumers can buy almost everything anywhere and at any time. One of the greatest benefits of e-commerce has been the convenience and the vast choices which consumers get online. However, some serious issues exist that impede consumers from transaction online. These issues have attracted the attention of many marketing researchers in recent years. In this research, the authors focus on the impact of consumers' ethics perception of e-retailer on their purchase intention and satisfaction. The authors also try to clarify the roles of trust and commitment in the relationship of ethics on consumers purchase decision and satisfaction because of their importance in e-commerce but also the privation in the research of previous studies. The data collected from a survey of 390 online consumers in Vietnam. Results reveal that there are significant relationships between online retailers' ethics and consumers' purchase intention and satisfaction via the mediation of trust and commitment.

The impact of tinnitus characteristics and associated variables on tinnitus-related handicap

2015 ◽  
Vol 130 (1) ◽  
pp. 25-31 ◽  
Author(s):  
S Degeest ◽  
P Corthals ◽  
I Dhooge ◽  
H Keppler
Keyword(s):  
Additional Insight ◽  
Tinnitus Handicap Inventory ◽  
Hearing Status ◽  
Questionnaire Score ◽  
Relationship Of ◽  
The Impact ◽  
The Relationship ◽  
Sample Case ◽  
Insight Into ◽  
Associated Variables

AbstractObjective:This study aimed to determine the characteristics of tinnitus and tinnitus-related variables and explore their possible relationship with tinnitus-related handicap.Methods:Eighty-one patients with chronic tinnitus were included. The study protocol measured hearing status, tinnitus pitch, loudness, maskability and loudness discomfort levels. All patients filled in the Tinnitus Sample Case History Questionnaire, the Hyperacusis Questionnaire and the Tinnitus Handicap Inventory. The relationship of each variable with the Tinnitus Handicap Inventory score was evaluated by univariate and multivariate analyses.Results:Five univariables were associated with the Tinnitus Handicap Inventory score: loudness discomfort level, subjective tinnitus loudness, tinnitus awareness, noise intolerance and Hyperacusis Questionnaire score. Multiple regression analysis showed that the Hyperacusis Questionnaire score and tinnitus awareness were independently associated with the Tinnitus Handicap Inventory score.Conclusion:Hyperacusis and tinnitus awareness were independently associated with the Tinnitus Handicap Inventory score. Questionnaires on tinnitus and hyperacusis are especially suited to providing additional insight into tinnitus-related handicap and are therefore useful for evaluating tinnitus patients.

scholarly journals Impact of Authoritative and Laissez-Faire Leadership on Thriving at Work: The Moderating Role of Conscientiousness

2021 ◽  
Vol 11 (3) ◽  
pp. 667-685
Author(s):  
Zulfiqar Ahmed Iqbal ◽  
Ghulam Abid ◽  
Muhammad Arshad ◽  
Fouzia Ashfaq ◽  
Muhammad Ahsan Athar ◽  
...  
Keyword(s):  
Leadership Style ◽  
Positive Impact ◽  
Work Relationship ◽  
Laissez Faire ◽  
Relationship Of ◽  
The Impact ◽  
The Relationship ◽  
Moderating Role ◽  
Thriving At Work

This study empirically investigates the less discussed catalytic effect of personality in the relationship of leadership style and employee thriving at work. The growth and sustainability of the organization is linked with the association of leadership style and employee thriving at the worplace. The objectives of this study are to explore the impact of authoritative and laissez-faire leadership styles and the moderating role of the personality trait of conscientiousness on thriving in the workplace. A sample of 312 participants was taken from a leading school system with its branches in Lahore and Islamabad, Pakistan. The participants either worked as managers, teachers in headquarters, or school campuses, respectively. The regression results of the study show that authoritative leadership and conscientiousness have a significantly positive impact on thriving at work. Furthermore, conscientiousness moderates the relationship between laissez-faire style of leadership and thriving at work relationship. The findings of this study have theoretical implications for authoritative and laissez-faire leadership, employee conscientiousness, and managerial applications for the practitioners.

The Relationship of Undifferentiated Mesenchymal Cells to TMJ Articular Tissue Thickness

1992 ◽  
Vol 71 (11) ◽  
pp. 1816-1821 ◽  
Author(s):  
C.A. Bibb ◽  
A.G. Pullinger ◽  
F. Baldioceda
Keyword(s):  
Soft Tissue ◽  
Inverse Relationship ◽  
Biological Processes ◽  
Spearman Correlation ◽  
Articular Eminence ◽  
Tissue Thickness ◽  
Cartilage Layer ◽  
Soft Tissue Thickness ◽  
Relationship Of ◽  
The Relationship

Undifferentiated mesenchymal (UM) cells, the progenitor cells of the cartilage layer, have been assigned a significant role in TMJ articular tissue maintenance. This was based on reports of UM cell reduction with increased soft-tissue thickness for the condyle and temporal component. However, the strength of this inverse relationship was not presented and remained unclear. The purpose of the present study was to assess the strength of the correlation between UM cell presence and soft-tissue thickness in young adult TMJs at autopsy. Sagittal histological sections from the central thirds of 50 joints were evaluated with respect to articular soft-tissue thickness, histological character, and UM cell presence in the condyle and temporal component. The superior sector ofthe condyle and the articular eminence showed the greatest variability in soft-tissue thickness and were the only areas to show localized UM cell absence. The eminence was the only location to show an inverse relationship between soft-tissue thickness and UM cell presence, and this was consistent in both an ANOVA (p = 0.0016) and a Spearman correlation analysis. However, the strength of this correlation was only moderate (rho = -0.52), and no such relationship was observed in any other location. This study suggests that the relationship between UM cell presence and soft-tissue thickness is more complex than previously hypothesized and that the contribution of UM cells to articular tissue maintenance has been overstated, while other biological processes were overlooked.

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