This paper provides evidences whether there are the differences of price income on various income change patterns (unexpected earnings patterns) classified by using consolidated earnings and individual earnings data for the extended research period (1...
This paper provides evidences whether there are the differences of price income on various income change patterns (unexpected earnings patterns) classified by using consolidated earnings and individual earnings data for the extended research period (1993~1994). The results are as follow:
1) The price behaviors for testing period support the results of prier researches showing the usefulness of audited consolidated earnings.
2) There are significant differences among income change Patterns.
These results show that according to change patterns, even though the unexpected consolidated earnigs are same, they can have a different effect on investors' belief.