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- W3122019989 abstract "In this paper we examine the relation between a firm's stock return and the earnings of other firms in the same industry, controlling for the firm's own earnings. We present a model in which the sign of this relation depends on the relative uncertainty there is about the size of the total industry value versus the division of that value between firms. We document considerable cross-industry variation in the relation between a firm's return and other firms' earnings, and demonstrate empirically that the sign of the relation depends on information provided prior to the industry earnings announcement period." @default.
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- W3122019989 date "1998-05-19" @default.
- W3122019989 modified "2023-09-26" @default.
- W3122019989 title "The Relation Between Security Returns, Firm Earnings and Industry Earnings" @default.
- W3122019989 hasPublicationYear "1998" @default.
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