MBAR models in the ASE (1974-2005)

Anastasia G. Maggina

International Journal of Managerial and Financial Accounting, 2009, vol. 1, issue 4, 339-369

Abstract: This paper provides evidence on some of the standard models of accounting earnings and returns relations as discussed in the literature. The rationale of the response in the Greek stock market is the one of the two major objectives. A comparison with other findings presented in the literature is the other major objective of this study. Results indicate that price-earnings model is consistent with the literature (as in the USA). Besides from the other standard MBAR models tested in this study, the model 'returns on earnings changes and levels' fits better with returns on earnings being next.

Keywords: market-based accounting research; MBAR models; price-earnings association; returns-earnings association; price-differenced model; accounting earnings; accounting returns; Greek stock market; Greece. (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:ids:injmfa:v:1:y:2009:i:4:p:339-369

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