Impact of Earnings, Dividends and Cash Flows on Stock Returns: Case of Taiwan's Stock Market

Impact of Earnings, Dividends and Cash Flows on Stock Returns: Case of Taiwan's Stock Market The study uses Taiwan's stock market, a newly developed market with different characteristics from that of the U.S., as an experimental case to examine the influences of the market's characteristics on the relationship between stock returns and fundamental accounting information, such as earnings, dividends and cash flows. The testing period is from 1990 to 1994, right after the promulgation of Taiwan's accounting standard for statement of cash flows in 1989. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Quantitative Finance and Accounting Springer Journals

Impact of Earnings, Dividends and Cash Flows on Stock Returns: Case of Taiwan's Stock Market

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Publisher
Kluwer Academic Publishers
Copyright
Copyright © 1997 by Kluwer Academic Publishers
Subject
Finance; Corporate Finance; Accounting/Auditing; Econometrics; Operation Research/Decision Theory
ISSN
0924-865X
eISSN
1573-7179
D.O.I.
10.1023/A:1008264510023
Publisher site
See Article on Publisher Site

Abstract

The study uses Taiwan's stock market, a newly developed market with different characteristics from that of the U.S., as an experimental case to examine the influences of the market's characteristics on the relationship between stock returns and fundamental accounting information, such as earnings, dividends and cash flows. The testing period is from 1990 to 1994, right after the promulgation of Taiwan's accounting standard for statement of cash flows in 1989.

Journal

Review of Quantitative Finance and AccountingSpringer Journals

Published: Sep 29, 2004

References

  • Valuation and Clean Surplus Accounting for Operating and Financial Activities
    Feltham, G; Ohlson, J.
  • Dividends, Short Selling Restrictions, Tax Induced Investor Clienteles and Market Equilibrium
    Litzenberger, R. H.; Ramaswamy, K.
  • Stock Dividends, Stock Splits, and Signaling
    McNichols, M.; Dravid, A.
  • Dividend Policy under Asymmetric information
    Miller, M.; Rock, K.

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