The Nonsynchronous Relation of Accounting Earnings with Stock Returns

"The Nonsynchronous Relation of Accounting Earnings with Stock Returns" is a comprehensive study of the complex relationship between stock returns and accounting earnings. This monograph highlights how stock prices and accounting profits do not move in sync and how prices can serve as indicators of future earnings. The author, Ray Donnelly, analyzes the dynamics in which the stock market processes information faster than annual earnings reports and how this information is interpreted in the context of other available data. The study provides valuable insights into the predictive power of prices for earnings and examines the characteristics of companies whose earnings are anticipated to varying degrees by market prices. This work is aimed at professionals and researchers who wish to develop a deeper understanding of the interactions between stock returns and accounting earnings.