Expectations and Share Prices
Abstract
It is generally believed that security prices are determined by expectations concerning firm and economic variables. Despite this belief there is very little research examining expectational data. In this paper we examine how expectations concerning earning per share effect share price. We first show that knowledge concerning analyst's forecasts of earnings per share cannot by itself lead to excess returns. Any information contained in the...
Paper Details
Title
Expectations and Share Prices
Published Date
Sep 1, 1981
Journal
Volume
27
Issue
9
Pages
975 - 987
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