Please use this identifier to cite or link to this item: http://hdl.handle.net/20.500.11861/5592
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dc.contributor.authorFan, Hung-Shuen_US
dc.contributor.authorDr. LEE Huaen_US
dc.contributor.authorLee, Hsien-lien_US
dc.date.accessioned2019-02-26T02:07:43Z-
dc.date.available2019-02-26T02:07:43Z-
dc.date.issued2018-
dc.identifier.citationAdvances in Quantitative Analysis of Finance and Accounting, 2018, vol. 16, pp. 183-206.en_US
dc.identifier.issn1046-5847-
dc.identifier.urihttp://hdl.handle.net/20.500.11861/5592-
dc.description.abstractThis paper examines the association between two types of diversification, including industrial diversification and global diversification, and the informational role of earnings for equity valuation. Using a sample of listed firms in Taiwan, the results show that, the incremental effect of industrial diversification on the association between stock return and future earnings is negative, whereas the incremental effect of global diversification on this association is positive. In addition, the relation between current earnings and future earnings is weaker for firms with industrial diversification and stronger for firms with only global diversification. The results are robust with respect to alternative measures of diversification and controlling for size, book-to-market, institutional holdings, and earnings volatility. Collectively, this paper suggests that earnings informativeness is lesser for firms with industrial diversification, which weakens earnings persistence. In contrast, earnings informativeness is greater for firms with only global diversification, which enhances earnings persistence.en_US
dc.language.isoenen_US
dc.relation.ispartofAdvances in Quantitative Analysis of Finances and Accountingen_US
dc.titleDiversification strategy and earnings informativeness for security valuationen_US
dc.typePeer Reviewed Journal Articleen_US
dc.identifier.doi10.6293/AQAFA.201812_16.0006-
item.fulltextNo Fulltext-
crisitem.author.deptDepartment of Accounting-
Appears in Collections:Accounting - Publication
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