@Article{mfj:720,
title={The Information Content of Earnings on Stock Prices: The Kuwait Stock Exchange},
author={Rashid Al-Qenae and Carmen Li and Bob Wearing},
journal={Multinational Finance Journal},
volume={6},
number={3/4},
pages={197--221},
year=2002,
publisher={Multinational Finance Society; Global Business Publications},
url={http://www.mfsociety.org/../modules/modDashboard/uploadFiles/journals/MJ~699~p16tfjucu0115516fslja1hlgt8n4.pdf}
keywords={earnings response coefficients; Kuwait Stock Exchange; price-leading earnings},
abstract={This paper investigates the incremental information content of earnings and other macroeconomic variables for share prices within the ‘prices leading earnings’ framework. We find evidence supporting the phenomenon of ‘prices leading earnings’ for the Kuwait Stock Exchange (KSE) after controlling for basic macroeconomic indicators. That is, the estimated earnings response coefficient is found to be sensitive (and significant) to the leading periods and it increased when more leading periods were included. The results suggest that prices anticipate earnings and hence provide useful information to KSE investors.},
}