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Predicting Bankruptcy via Cross-Sectional Earnings Forecasts
Hess, Dieter - 2019
We develop a model to predict bankruptcies, exploiting that negative book equity is a strong indicator of financial distress. Accordingly, our key predictor of bankruptcy is the probability that future losses will deplete a firm's book equity. To calculate this probability, we use earnings...
Persistent link: https://www.econbiz.de/10012899828
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The Performance of Mechanical Earnings Forecasts
Hess, Dieter - 2019
We analyze three different mechanical models to forecast earnings and compare their forecasts with those of analysts … from analysts' forecasts more reliable than ICCs based on model forecasts? And 3) does higher forecast performance also … reliability of analyst-based ICCs seems to indicate a missing link between forecast performance and ICC reliability, in fact …
Persistent link: https://www.econbiz.de/10012901020
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Quarterly Earnings Information : Implications for Annual Earnings Forecast Models
Hess, Dieter; Wolf, Simon - 2022
We substantially improve cross-sectional earnings forecast models, such as Hou, van Dijk, and Zhang (2012), by …
Persistent link: https://www.econbiz.de/10013405879
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Predicting Sell-Side Analysts' Relative Earnings Forecast Accuracy When It Matters Most
Blümke, Niklas - 2017
model focusing simply on the forecast horizon, for example …
Persistent link: https://www.econbiz.de/10012956259
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Extended dividend, cash flow and residual income valuation models: Accounting for deviations from ideal conditions
Heinrichs, Nicolas; Hess, Dieter; Homburg, Carsten; … - Institut für Finanzmarktforschung, Wirtschafts- und … - 2011
Standard equity valuation approaches (i.e., DDM, RIM, and DCF model) are derived under the assumption of ideal conditions, such as infinite payoffs and clean surplus accounting. Because these conditions are hardly ever met, we extend the standard approaches, based on the fundamental principle of...
Persistent link: https://www.econbiz.de/10009323193
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Extended dividend, cash flow and residual income valuation models: Accounting for deviations from ideal conditions
Heinrichs, Nicolas; Hess, Dieter; Homburg, Carsten; … - 2011
Standard equity valuation approaches (i.e., DDM, RIM, and DCF model) are derived under the assumption of ideal conditions, such as infinite payoffs and clean surplus accounting. Because these conditions are hardly ever met, we extend the standard approaches, based on the fundamental principle of...
Persistent link: https://www.econbiz.de/10010306614
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Extended Dividend, Cash Flow and Residual Income Valuation Models -Accounting for Deviations from Ideal Conditions
Heinrichs, Nicolas; Hess, Dieter; Homburg, Carsten; … - Centre for Financial Research <Köln> - 2011
Standard equity valuation approaches (i.e., DDM, RIM, and DCF model) are derived under theassumption of ideal conditions, such as infinite payoffs and clean surplus accounting. Becausethese conditions are hardly ever met, we extend the standard approaches, based on thefundamental principle of...
Persistent link: https://www.econbiz.de/10009284863
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Extended Dividend, Cash Flow and Residual Income ValuationModels - Accounting for Deviations from Ideal Conditions
Hess, Dieter; Homburg, Carsten; Lorenz, Michael; … - Universität <Köln> / Seminar für Allgemeine … - 2009
Standard equity valuation approaches (i.e., DDM, RIM, and DCF) are derivedunder the assumption of ideal conditions, such as infinite payoffs and cleansurplus accounting. Since these conditions are hardly ever met, we provideextensions of the standard approaches based on the fundamental principle...
Persistent link: https://www.econbiz.de/10005866810
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Extended dividend, cash flow and residual income valuation models : accounting for deviations from ideal conditions
Heinrichs, Nicolas; Hess, Dieter; Homburg, Carsten; … - 2011 - This version: May 25, 2011
Standard equity valuation approaches (i.e., DDM, RIM, and DCF model) are derived under the assumption of ideal conditions, such as infinite payoffs and clean surplus accounting. Because these conditions are hardly ever met, we extend the standard approaches, based on the fundamental principle of...
Persistent link: https://www.econbiz.de/10009270446
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Extended Dividend, Cash Flow and Residual Income Valuation Models - Accounting for Deviations from Ideal Conditions
Heinrichs, Nicolas - 2011
Standard equity valuation approaches (i.e., DDM, RIM, and DCF model) are derived under the assumption of ideal conditions, such as infinite payoffs and clean surplus accounting. Because these conditions are hardly ever met, we extend the standard approaches, based on the fundamental principle of...
Persistent link: https://www.econbiz.de/10012714149