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dc.contributor.advisorBasu, Sudipta, 1965-
dc.contributor.advisorByzalov, Dmitri
dc.creatorLee, Eunju (Ivy)
dc.date.accessioned2022-05-26T18:19:37Z
dc.date.available2022-05-26T18:19:37Z
dc.date.issued2022
dc.identifier.urihttp://hdl.handle.net/20.500.12613/7738
dc.description.abstractI examine whether sales news and cash flow news are more informative in valuation when they are consistent with earnings news. Prior studies show that earnings response coefficient (ERC) is larger when the earnings surprise is consistent in sign with the sales surprise or the cash flow surprise because the consistency suggests higher earnings persistence. I provide new evidence that indicator consistency increases sales response coefficient and cash flow response coefficient as well as ERC. This consistency effect for sales and cash flow cannot be explained by the standard persistence argument from prior studies. I propose a new argument that can explain the consistency effects for all three indicators. I posit that investors perceive consistent indicators to each be more precise and thus rely more on each indicator. Under this precision argument, I predict and show that indicator consistency is particularly useful when there is high uncertainty about indicator precision.
dc.format.extent110 pages
dc.language.isoeng
dc.publisherTemple University. Libraries
dc.relation.ispartofTheses and Dissertations
dc.rightsIN COPYRIGHT- This Rights Statement can be used for an Item that is in copyright. Using this statement implies that the organization making this Item available has determined that the Item is in copyright and either is the rights-holder, has obtained permission from the rights-holder(s) to make their Work(s) available, or makes the Item available under an exception or limitation to copyright (including Fair Use) that entitles it to make the Item available.
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/
dc.subjectAccounting
dc.subjectCash flow response coefficient
dc.subjectIndicator consistency
dc.subjectIndicator precision
dc.subjectSales response coefficient
dc.titleInvestor's reliance on indicator consistency at earnings announcements: earnings persistence or indicator precision?
dc.typeText
dc.type.genreThesis/Dissertation
dc.contributor.committeememberKrishnan, Jayanthi
dc.contributor.committeememberGrace, Martin Francis, 1958-
dc.description.departmentBusiness Administration/Accounting
dc.relation.doihttp://dx.doi.org/10.34944/dspace/7710
dc.ada.noteFor Americans with Disabilities Act (ADA) accommodation, including help with reading this content, please contact scholarshare@temple.edu
dc.description.degreePh.D.
dc.identifier.proqst14857
dc.date.updated2022-05-11T16:10:56Z
refterms.dateFOA2022-05-26T18:19:39Z
dc.identifier.filenameLee_temple_0225E_14857.pdf


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