Domestic and Foreign Earnings, Stock Return Variability, and the Impact of Investor Sophistication

• Main Authors: SEGAL, Dan, Callen, Jeffrey L., Hope, Ole-Kristian
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2005
• 主題: Accounting; Corporate Finance
• 在線閱讀: https://ink.library.smu.edu.sg/soa_research/808; https://ink.library.smu.edu.sg/context/soa_research/article/1807/viewcontent/SSRN_id596641.pdf
• 機構: Singapore Management University

We examine the importance of foreign earnings relative to domestic earnings for a sample of U.S. multinationals using variance decomposition. Our methodology represents an alternative and complementary approach over the prior literature, which is based on traditional regressions and earnings respons...