Li, Ningzhong; Richardson, Scott; Tuna, İrem - In: Journal of Accounting and Economics 58 (2014) 1, pp. 1-20
We outline a systematic approach to incorporate macroeconomic information into firm level forecasting from the perspective of an equity investor. Using a global sample of 198,315 firm-years over the 1998–2010 time period, we find that combining firm level exposures to countries (via geographic...