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The Time Series Behaviour of Corporate Earnings

Author

Listed:
  • G. P. Whittred

    (Kuring-gai College of Advanced Education and University of New South Wales. I am indebted to Frank Finn for helpful comments on an earlier version of this paper.)

Abstract

Existing evidence indicates that the time-series behaviour of corporate annual earnings is well approximated by a random-walk, or some similar process. There is, however, little Australian evidence on this issue. This note presents the results of an investigation into the time-series behaviour of the annual earnings of a sample of relatively large Australian corporations. The conclusion, that successive changes in such earnings are well approximated by a random-walk, is consistent with the existing evidence.

Suggested Citation

  • G. P. Whittred, 1978. "The Time Series Behaviour of Corporate Earnings," Australian Journal of Management, Australian School of Business, vol. 3(2), pages 195-202, October.
    • Handle: RePEc:sae:ausman:v:3:y:1978:i:2:p:195-202
    DOI: 10.1177/031289627800300206
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    Cited by:

    1. Garry Hobbes & Graham Partington & Max Stevenson, 1994. "Earnings, Dividends and Returns: A Theoretical Model," Working Paper Series 38, Finance Discipline Group, UTS Business School, University of Technology, Sydney.

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