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Tác giả CN	Wei, Jiang.
Nhan đề	Loss persistence and returns in the UK / Wei Jiang, Nuno Soares & Andrew W. Stark
Mô tả vật lý	p221-p242
Tóm tắt	In this study, we examine whether estimated loss reversal probabilities are fully reflected in UK stock market prices. Overall, we provide evidence of varying degrees and types of loss firm mispricing with respect to estimated loss reversal probabilities. In particular, a significant and positive relationship between loss reversal probability and annual returns is found only for firms with higher trading costs. When looking at monthly returns, however, especially for the financial statement release month subsequent to the loss year, a significant and positive relationship is found for all firms. Thus, the evidence is consistent with UK market participants not fully incorporating relevant information into the pricing of loss firms and, as a consequence, being surprised by the content of the earnings for many or all UK loss firms
Thuật ngữ chủ đề	Kế toán-Nghiên cứu-TV ĐHHN
Thuật ngữ chủ đề	Tài chính-Nghiên cứu-TV ĐHHN
Từ khóa tự do	Mispricing.
Từ khóa tự do	Return anomalies.
Từ khóa tự do	Accounting losses.
Từ khóa tự do	Loss reversal.
Tác giả(bs) CN	Soares,Nuno.
Tác giả(bs) CN	Stark, Andrew W.
Nguồn trích	Acounting and business research- 2016, Vol46, N.3


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041	0\|aeng
100	0\|aWei, Jiang.
245	10\|aLoss persistence and returns in the UK /\|cWei Jiang, Nuno Soares & Andrew W. Stark
300	\|ap221-p242
362	0\|aVol 46 (April 2016)
520	\|aIn this study, we examine whether estimated loss reversal probabilities are fully reflected in UK stock market prices. Overall, we provide evidence of varying degrees and types of loss firm mispricing with respect to estimated loss reversal probabilities. In particular, a significant and positive relationship between loss reversal probability and annual returns is found only for firms with higher trading costs. When looking at monthly returns, however, especially for the financial statement release month subsequent to the loss year, a significant and positive relationship is found for all firms. Thus, the evidence is consistent with UK market participants not fully incorporating relevant information into the pricing of loss firms and, as a consequence, being surprised by the content of the earnings for many or all UK loss firms
650	17\|aKế toán\|xNghiên cứu\|2TV ĐHHN
650	17\|aTài chính\|xNghiên cứu\|2TV ĐHHN
653	\|aMispricing.
653	\|aReturn anomalies.
653	0\|aAccounting losses.
653	0 \|aLoss reversal.
700	1\|aSoares,Nuno.
700	1\|aStark, Andrew W.
773	0\|tAcounting and business research\|g2016, Vol46, N.3
890	\|a0\|b0\|c0\|d0

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