Persistence of quarterly earnings: an empirical investigation in Brazil

The aim of this paper is to estimate and analyze quarterly earnings persistence. In addition, we explore if earnings persistence varies across firms based on size and corporate governance standards. We first estimate the parameter revision of earnings and then we test the hypotheses that the paramet...

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Autores principales:	Renê Coppe Pimentel, Andson Braga de Aguiar
Formato:	article
Lenguaje:	EN PT
Publicado:	FUCAPE Business School 2012
Materias:	earnings persistence quarterly earnings firm size corporate governance standards brazilian firms Business HF5001-6182
Acceso en línea:	https://doaj.org/article/e3bb97f6ca644691977b672f00160bc1
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spelling	oai:doaj.org-article:e3bb97f6ca644691977b672f00160bc12021-11-11T15:48:05ZPersistence of quarterly earnings: an empirical investigation in Brazil1807-734Xhttps://doaj.org/article/e3bb97f6ca644691977b672f00160bc12012-01-01T00:00:00Zhttp://www.redalyc.org/articulo.oa?id=123040843002https://doaj.org/toc/1807-734XThe aim of this paper is to estimate and analyze quarterly earnings persistence. In addition, we explore if earnings persistence varies across firms based on size and corporate governance standards. We first estimate the parameter revision of earnings and then we test the hypotheses that the parameter of earnings persistence is different for firms with different sizes (H1) and corporate governance standards (H2). We collect data from Brazilian listed firms with quarterly earnings per share available at Economatica database from last quarter of 1995 to first quarter 2011. Our results indicate that for most of the firms the earnings persistence is not significantly different from zero. The main implication of this result is that most of quarterly earnings innovation is transitory. In addition, the results support our first hypothesis indicating that larger firms present higher parameter of earnings persistence. The results also indicate that the parameter of earnings persistence is different for firms with different corporate governance standards, partially supporting our second hypothesis.Renê Coppe PimentelAndson Braga de AguiarFUCAPE Business Schoolarticleearnings persistencequarterly earningsfirm sizecorporate governance standardsbrazilian firmsBusinessHF5001-6182ENPTBBR: Brazilian Business Review, Iss 1, Pp 38-54 (2012)
institution	DOAJ
collection	DOAJ
language	EN PT
topic	earnings persistence quarterly earnings firm size corporate governance standards brazilian firms Business HF5001-6182
spellingShingle	earnings persistence quarterly earnings firm size corporate governance standards brazilian firms Business HF5001-6182 Renê Coppe Pimentel Andson Braga de Aguiar Persistence of quarterly earnings: an empirical investigation in Brazil
description	The aim of this paper is to estimate and analyze quarterly earnings persistence. In addition, we explore if earnings persistence varies across firms based on size and corporate governance standards. We first estimate the parameter revision of earnings and then we test the hypotheses that the parameter of earnings persistence is different for firms with different sizes (H1) and corporate governance standards (H2). We collect data from Brazilian listed firms with quarterly earnings per share available at Economatica database from last quarter of 1995 to first quarter 2011. Our results indicate that for most of the firms the earnings persistence is not significantly different from zero. The main implication of this result is that most of quarterly earnings innovation is transitory. In addition, the results support our first hypothesis indicating that larger firms present higher parameter of earnings persistence. The results also indicate that the parameter of earnings persistence is different for firms with different corporate governance standards, partially supporting our second hypothesis.
format	article
author	Renê Coppe Pimentel Andson Braga de Aguiar
author_facet	Renê Coppe Pimentel Andson Braga de Aguiar
author_sort	Renê Coppe Pimentel
title	Persistence of quarterly earnings: an empirical investigation in Brazil
title_short	Persistence of quarterly earnings: an empirical investigation in Brazil
title_full	Persistence of quarterly earnings: an empirical investigation in Brazil
title_fullStr	Persistence of quarterly earnings: an empirical investigation in Brazil
title_full_unstemmed	Persistence of quarterly earnings: an empirical investigation in Brazil
title_sort	persistence of quarterly earnings: an empirical investigation in brazil
publisher	FUCAPE Business School
publishDate	2012
url	https://doaj.org/article/e3bb97f6ca644691977b672f00160bc1
work_keys_str_mv	AT renecoppepimentel persistenceofquarterlyearningsanempiricalinvestigationinbrazil AT andsonbragadeaguiar persistenceofquarterlyearningsanempiricalinvestigationinbrazil
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Persistence of quarterly earnings: an empirical investigation in Brazil

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