NDLI: Disaggregated Earnings and Stock Prices: Evidence from International Listed Shipping Firms

Content Provider	Springer Nature Link
Author	Apergis, Nicholas Sorros, John
Copyright Year	2010
Abstract	The goal of this study is to investigate the impact of earnings from vessel sales on stock prices for international listed shipping firms. The empirical findings show that operating income from vessel sales has a higher power in explaining stock prices than operating earnings only as a sole piece of accounting information for future profitability, investment opportunities, and firm valuation. The testing period is from 2000 to 2009. The methodologies are those of panel cointegration and panel causality tests. The implications are very crucial, since managers may manipulate annual earnings by such non-operating activities.
Starting Page	269
Ending Page	281
Page Count	13
File Format	PDF
ISSN	10830898
Journal	International Advances in Economic Research
Volume Number	16
Issue Number	3
e-ISSN	1573966X
Language	English
Publisher	Springer US
Publisher Date	2010-07-06
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	General Financial Markets: General Accounting Multiple or Simultaneous Equation Models: Panel Data Models; Spatio-temporal Models Operating income Vessel sales International shipping firms Stock prices Panel cointegration and causality Economic Growth Microeconomics International Economics Macroeconomics/Monetary Economics Economics general
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics

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Disaggregated Earnings and Stock Prices: Evidence from International Listed Shipping Firms