Quality of earnings as an investment indicator : a literature review.

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dc.contributor.advisorGstraunthaler, Thomasen_ZA
dc.contributor.authorBinneman, Jasonen_ZA
dc.date.accessioned2014-12-26T14:27:16Z
dc.date.available2014-12-26T14:27:16Z
dc.date.issued2012en_ZA
dc.descriptionIncludes bibliographical references.en_ZA
dc.description.abstractThis paper examines the characteristics of earnings quality, reviews the literature that assesses whether earnings quality does in fact affect market valuations and evaluates whether trading strategies based on this knowledge yield abnormal positive returns. This paper looks at why earnings quality should be an important consideration in evaluation [of] a firm, then investigates research on the accounting effect on valuations, covering the accrual effect, the general growth effect and the value-glamour effect. Thereafter, other factors that can influence earnings quality are documented, from earnings manipulation to the effects of external factors on quality of earnings. The concept and measurement of economic profits are also examined. Lastly, trading strategies based on earnings quality are investigated to see if abnormal profits can be earned from such strategies.en_ZA
dc.identifier.apacitationBinneman, J. (2012). <i>Quality of earnings as an investment indicator : a literature review</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax. Retrieved from http://hdl.handle.net/11427/10172en_ZA
dc.identifier.chicagocitationBinneman, Jason. <i>"Quality of earnings as an investment indicator : a literature review."</i> Thesis., University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax, 2012. http://hdl.handle.net/11427/10172en_ZA
dc.identifier.citationBinneman, J. 2012. Quality of earnings as an investment indicator : a literature review. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Binneman, Jason AB - This paper examines the characteristics of earnings quality, reviews the literature that assesses whether earnings quality does in fact affect market valuations and evaluates whether trading strategies based on this knowledge yield abnormal positive returns. This paper looks at why earnings quality should be an important consideration in evaluation [of] a firm, then investigates research on the accounting effect on valuations, covering the accrual effect, the general growth effect and the value-glamour effect. Thereafter, other factors that can influence earnings quality are documented, from earnings manipulation to the effects of external factors on quality of earnings. The concept and measurement of economic profits are also examined. Lastly, trading strategies based on earnings quality are investigated to see if abnormal profits can be earned from such strategies. DA - 2012 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2012 T1 - Quality of earnings as an investment indicator : a literature review TI - Quality of earnings as an investment indicator : a literature review UR - http://hdl.handle.net/11427/10172 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/10172
dc.identifier.vancouvercitationBinneman J. Quality of earnings as an investment indicator : a literature review. [Thesis]. University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax, 2012 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/10172en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentDepartment of Finance and Taxen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherFinancial Managementen_ZA
dc.titleQuality of earnings as an investment indicator : a literature review.en_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMComen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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