Please use this identifier to cite or link to this item: https://gnanaganga.inflibnet.ac.in:8443/jspui/handle/123456789/14820
Title: Value Relevance and Persistence of Earnings Components- the Case of CNX Infrastructure Index
Authors: Varun Dawar
Keywords: Value relevance
CNX Infrastructure
Earning Components
Persistence
Equity Value
Issue Date: 2012
Publisher: JIM Quest Journal of Management Technology
Abstract: This empirical study examines the persistency and predictive ability of earning components (accruals and cash flows) and their respective role in equity valuation in Indian Infrastructure sector for a period of 8 years {2004-2011). The empirical research, with the background setting of the models developed by Ohlson (1995, 1999), uses Panel data analysis to provide evidence of the value relevance of abnormal earnings and book value in explaining market value of equity in Indian Infrastructure sector. The study, however, fails to provide any evidence regarding incremental value relevance of accruals or cash flows over and above abnormal earnings and book value in explaining market value of equity. The findings suggest that abnormal earnings and cash flow component of earning show stationary autoregressive process.
URI: http://gnanaganga.inflibnet.ac.in:8080/jspui/handle/123456789/14820
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