Perceptions of performance: the reactions of analysts and institutional investors to FRS 3
O hOgartaigh, Ciaran and Reilly, Eilish (1996) Perceptions of performance: the reactions of analysts and institutional investors to FRS 3. DCU Business School Research Paper Series. (Paper No. 14). Dublin City University Business School, Ireland. ISSN: 1393-290X
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This paper explores the reactions of analysts and institutional investors to FRS 3 Reporting Financial Performance. Such reactions were elicited through an analysis of submissions to the Accounting Standards Board concerning FRED 1 (on which FRS 3 is based), a review of published reactions to FRS 3 and by way of a series of
inverviews with analysts and institutional investors. Those interviewed were generally supportive of FRS 3. The research finds little support amont those interviewed for the arguments made by user groups and others during the development of FRS 3. The paper argues, based on the discussion with analysts and institutional investors and
other research in the area, that although EPS is an important component of the language of such users, it is not the only word in their vocabulary.
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