افزایش سود شرکت ها و ویژگی های آنها: شواهدی از بازار سهام تایوان

Barth et al. (1999) show that increasing earnings firms in the U.S. have higher price-earnings multiple. This study investigates the applicability of their results to Taiwan's stock market, which has different institutional and investor characteristics. Results consistently show that earnings of increasing earnings firms have higher persistence than those of other firms. Forward stepwise discriminant analysis is also performed to examine the differences in firm characteristics. Increasing earnings firms tend to have higher market value of equity to book value of debt, and sales to total assets ratios.