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ผลลัพธ์ (อังกฤษ) 2:

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ผลลัพธ์ (อังกฤษ) 3:

This paper differs from extant research on earnings strings. Prior studies (e.g, Barth et.Al, 1999; Frieder 2008; Shanthikumar, 2012), investigate periods in which the earnings strings.Stretch from the beginning; in contrast this paper ', s focus is on the final quarters prior to the.Break in earnings strings. Insofar as string firms tend to have increasingly stronger economic.Performance (Fundamentals) - and thus higher earnings persistence - on it early, could be.Challenging to draw conclusions on investor rationality (or irrationality) based on evidence.Documented in the early stage of earnings strings.4 It is not surprising therefore the favorable,,,Market reactions to consecutive earnings growth have been attributed to investors rational. 'Expectation of firms' underlying economic performance (e.g, Bartov et al, 2002; Kasznik and.McNichols 2002),,, and alternatively to investors' irrational biases (e.g, Lakonishok et al, 1994;,, Frieder 2008; Shanthikumar 2012). To the extent that earnings persistence generally declines -Which I hypothesize and find consistent evidence in this paper - in the late stage of earnings.Strings investor behavior, could be less ambiguously assessed during this period. Along with.Declining, earnings persistence less (more) favorable market reactions before the break would.Undermine (support) the view of investor irrationality.