Examining the Relationship Between Performance Measures and Share Price: An Empirical Study on Mobile Telecommunications Companies Listed on Bursa Malaysia
Bibliographic record
Abstract
This paper is in Market Based Accounting Research (MBAR) which is a sub-discipline of Accounting & Finance under the broad field of Business Management. This research paper is a quantitative study of the relationship between financial and non-financial performance measures, and future share price performance of mobile telecommunications companies listed on Malaysia’s stock exchange known as Bursa Malaysia. Knowledge of the nature and strength of these relationships is used for forecasting future share price performance for investment decision making purposes. Four variables’ relationships to future share price performance were studied; these variables were Earnings Per Share (EPS), Price Earnings (P/E), Return on Equity (ROE), and Subscriber Growth (SG). The study found evidence that from one quarter to the next, EPS and P/E had the strongest relationship with the subsequent quarter’s share price, whilst ROE and SG were poor predictors of share price performance. Furthermore the study found that these relationships, whilst true for one company, did not necessarily exist for all companies even though the companies were all in the mobile telecommunications industry and their shares were traded on the same Bursa Malaysia market.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.010 | 0.002 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.001 | 0.000 |
| Scholarly communication | 0.001 | 0.000 |
| Open science | 0.001 | 0.000 |
| Research integrity | 0.000 | 0.001 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".