The Time Series Behaviour of Corporate Earnings

G. P. Whittred
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G. P. Whittred: Kuring-gai College of Advanced Education and University of New South Wales. I am indebted to Frank Finn for helpful comments on an earlier version of this paper.

Australian Journal of Management, 1978, vol. 3, issue 2, 195-202

Abstract: Existing evidence indicates that the time-series behaviour of corporate annual earnings is well approximated by a random-walk, or some similar process. There is, however, little Australian evidence on this issue. This note presents the results of an investigation into the time-series behaviour of the annual earnings of a sample of relatively large Australian corporations. The conclusion, that successive changes in such earnings are well approximated by a random-walk, is consistent with the existing evidence.

Keywords: EARNINGS; RANDOM-WALK; TIME-SERIES (search for similar items in EconPapers)
Date: 1978
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ausman:v:3:y:1978:i:2:p:195-202

DOI: 10.1177/031289627800300206

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