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Persistent link: https://www.econbiz.de/10013464935
This study examines the usefulness of analysts’ book value forecasts and the economic factors driving analysts’ issuance of these forecasts. Guided by the real-options-based valuation model (ROM) of Zhang (2000), we explicitly link book value forecasts to the need for such information in...
Persistent link: https://www.econbiz.de/10013290491
This study examines the usefulness of analysts’ book value forecasts and the economic factors driving analysts’ issuance of these forecasts. We first establish that analysts’ book value forecasts are superior to forecasts that are mechanically imputed from analysts’ own earnings...
Persistent link: https://www.econbiz.de/10013294513