Earnings and stock returns: evidence from Germany

G. Geoffrey Booth, John Broussard and Otto Loistl

European Accounting Review, 1997, vol. 6, issue 4, 589-603

Abstract: Past research in the US indicates that stock prices and earnings per share are related. Evidence pertaining to this relationship in other countries is not as extensive. This paper extends two recent studies focusing on Germany, and provides additional information concerning the important informative role played by DVFA earnings. DVFA earnings are a metric jointly constructed by the Deutscher Vereinigung fur Finanzanalyse und Anlageberatung and the Schmalenbach-Gesellschaftwith the purpose of providing investors and others interested in share value with a more meaningful measure of economic income than the traditional published earnings figure

Date: 1997
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DOI: 10.1080/09638189700000002

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