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SOME TIME SERIES PROPERTIES OF CORPORATE EARNINGS IN NEW ZEALAND: A NOTE
Author(s) -
Firth Michael
Publication year - 1982
Publication title -
journal of business finance and accounting
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.282
H-Index - 77
eISSN - 1468-5957
pISSN - 0306-686X
DOI - 10.1111/j.1468-5957.1982.tb01000.x
Subject(s) - earnings , series (stratigraphy) , equity (law) , shareholder , sample (material) , economics , econometrics , random walk , financial economics , accounting , mathematics , finance , statistics , corporate governance , geology , political science , paleontology , chemistry , chromatography , law
This study examines some time series properties of earnings and returns on shareholders' equity for a sample of 110 New Zealand firms. The results show that successive changes in these time series are independent and that they can be modelled by a random walk process.