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R. Ball, P. Brown (1969)
PORTFOLIO THEORY AND ACCOUNTINGJournal of Accounting Research, 7
B. Cushing (1969)
An Empirical Study of Changes in Accounting PolicyJournal of Accounting Research, 7
Beaver (1968)
Predictive Ability as a Criterion for the Evaluation of Accounting DataThe Accounting Review, XLIII
P. Brown, R. Ball (1967)
Some Preliminary Findings on the Association between the Earnings of a Firm, Its Industry, and the EconomyJournal of Accounting Research, 5
W. Beaver (1970)
The Time Series Behavior of EarningsJournal of Accounting Research, 8
Barefield (1972)
The Smoothing Hypothesis: An Alternative TestThe Accounting Review, XLVII
Copeland Copeland (1968)
Income SmoothingEmpirical Research in Accounting: Selected Studies
R. Brealey (1969)
An Introduction to Risk and Return from Common Stocks, 2nd EditionResearch Papers in Economics, 1
Beaver
The Behavior of Security Prices and Its Implications for Accounting Research (Methods)The Accounting Review
Gary White (1972)
Effects of Discretionary Accounting Policy on Variable and Declining Performance TrendsJournal of Accounting Research, 10
R. Ball, R. Watts (1972)
SOME TIME SERIES PROPERTIES OF ACCOUNTING INCOMEJournal of Finance, 27
W. Baumol, A. Rayner, I. Little (1967)
Higgledy Piggledy Growth again.Economica, 34
Little Little (Nov., 1962)
Higgledy Piggledy GrowthInstitute of Statistics, Oxford, XXIV
Ronald Copeland, J. Wojdak (1969)
Income Manipulation and the Purchase-Pooling ChoiceJournal of Accounting Research, 7
White White (Autumn, 1972)
Effects of Discretionary Accounting Policy and Declining Performance TrendsJournal of Accounting Research, X
Beidleman (1973)
Income Smoothing: The Role of ManagementThe Accounting Review, XLVIII
R. Brown (1964)
Smoothing, forecasting and prediction of discrete time series
Copeland Copeland, Moore Moore (Autumn, 1972)
The Financial Bath: Is It Common?MSU Business Topics, XX
DECEMBER 1976 FURTHER EVIDENCE OF THE TIME SERIES PROPERTIES OF ACCOUNTING INCOME LERoy D. BROOKS AND DALE A. BUCKMASTER * I. INTRODUCTION THE BEHAVIOR OF ACCOUNTING INCOME TIME-SERIES is of considerable interest to researchers in accounting, finance, and related disciplines. For example, the properties of accounting income time-series are directly related to accounting questions of management manipulation of accounting income and interim reporting. However, increased knowledge of income time-series behavior will be of most benefit to the extent that it contributes to the improvement of models in finance and improvement of the quality of accounting income numbers that are variables in predictive models [4], [5], [6]. Beaver compiled an impressive list of studies that required assumptions concerning the time-series behavior of accounting income or used accounting income as a predictive variable. The studies included in the Beaver list related to: valuation models of the firm, valuation of firm securities, dividend policies, earnings growth rate forecasts, evaluation of the informational content of accounting numbers, forecasting the failure of firms, and industrial concentration and accounting rates of return [6, p. 64]. Most previous research provided convincing evidence that income changes are independent [1], [2], [8], [18], [19]. Without exception, these
The Journal of Finance – Wiley
Published: Dec 1, 1976
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