Associations Between Alternative Accounting Profitability Measures and Security Returns
研究不同会计盈利指标与证券收益的关系，对证券分析师和会计人员理解会计信息在股价决定中的作用有参考价值。
The importance of accounting information on security price determination is of interest to both security analysts and accountants. Beaver [3], Downes and Dyckman [6], Gonedes [12], Beaver and Manegold [4], and others have investigated the possible relationships between accounting information and market information. Rosenberg [26] has shown the existence of extra-market components of covariance in security returns while Simkowitz and Logue (S–L) [28] have derived the interdependent structure of security returns. However, none of this research has explicitly investigated how the empirical results can be affected by alternative accounting profitability measures within an industry simultaneously.