Evaluating the relationship between retail and technology companies’ share prices with earnings and net cash flow in the context of South Africa and America (USA)

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dc.article.end-page91
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dc.contributor.authorTiquin, Cal
dc.contributor.supervisorBrahmbhatt, Y.
dc.date.accessioned2024-06-21T12:59:40Z
dc.date.available2024-06-21T12:59:40Z
dc.date.issued2023
dc.descriptionA research report submitted in partial fulfillment of the degree of Master of Commerce University of the Witwatersrand, 2023
dc.description.abstractBackground: The informational value of accounting information is becoming increasingly important within the context of the modern information age. Research in this regard is lacking within the South African context, and within the technological sector. Purpose: The purpose of this research study is to test if the explanatory power of net earnings and cash flow differed for separate sectors of stock exchanges. Methodology: Four samples, representing the technology and retail sectors of both the JSE and the NYSE were collected and analysed in terms of an Ohlson (1995) model for a five year time period, from 2017 to 2021 (inclusive). Using a linear panel data regression model with secondary data, the explanatory power of both cash flow and earnings were compared between the different sectors. Findings: The results showed that the explanatory power of cash flow was greater than the explanatory power of net earnings on the NYSE for the technology sector, while the opposite was true for a traditional, retail sector. No significant regression results were attained for the JSE. Implications: The findings of this research provide valuable insight into the informational value of accounting information, and how it may differ between sectors. It may also assist regulatory bodies, Stock exchanges and investors in determining if different accounting information should be presented or prioritised for different sector
dc.description.submitterMM2024
dc.facultyFaculty of Commerce, Law and Management
dc.identifier.citationTiquin, Cal. (2023). Evaluating the relationship between retail and technology companies’ share prices with earnings and net cash flow in the context of South Africa and America (USA) [Master’s dissertation, University of the Witwatersrand, Johannesburg]. WireDSpace. https://hdl.handle.net/10539/38724
dc.identifier.urihttps://hdl.handle.net/10539/38724
dc.language.isoen
dc.publisherUniversity of the Witwatersrand, Johannesburg
dc.rights© 2023 University of the Witwatersrand, Johannesburg. All rights reserved. The copyright in this work vests in the University of the Witwatersrand, Johannesburg. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of University of the Witwatersrand, Johannesburg.
dc.rights.holderUniversity of the Witwatersrand, Johannesburg
dc.schoolSchool of Accountancy
dc.subjectEarnings, Explanatory power
dc.subjectCash flow
dc.subjectNYSE
dc.subjectJSE
dc.subjectOhlson model
dc.subjectPredictive power
dc.subjectRetail sector
dc.subjectShare price
dc.subjectUCTD
dc.subjectTechnology sector
dc.subjectValue relevance
dc.subject.otherSDG-8: Decent work and economic growth
dc.titleEvaluating the relationship between retail and technology companies’ share prices with earnings and net cash flow in the context of South Africa and America (USA)
dc.typeDissertation
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