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Evaluating Cross-Sectional Forecasting Models for Implied Cost of Capital
Li, Kevin K. - 2014
The computation of implied cost of capital (ICC) is constrained by the lack of analyst forecasts for half of all firms. Hou, van Dijk, and Zhang (2012, HVZ) present a cross-sectional model to generate forecasts in order to compute ICC. However, the forecasts from the HVZ model perform worse than...
Persistent link: https://www.econbiz.de/10013057608
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Evaluating Cross-Sectional Forecasting Models for Implied Cost of Capital
Li, Kevin K. - 2014
The computation of implied cost of capital (ICC) is constrained by the lack of analyst forecasts for half of all firms. Hou, van Dijk, and Zhang (2012, HVZ) present a cross-sectional model to generate forecasts in order to compute ICC. However, the forecasts from the HVZ model perform worse than...
Persistent link: https://www.econbiz.de/10013063029
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Sovereign risk indices and Bayesian theory averaging
Lenkoski, Alex; Aanes, Fredrik L. - In: Econometrics : open access journal 8 (2020) 2/22, pp. 1-24
theories are imperfectly captured quantitatively. A number of different proxies are often collected for a given theory and the … generalizability of the theory index our framework assumes a collection of outcome equations. We accommodate a flexible set of … occurs on the outcome level, allowing for theories to be differentially valid. Our focus is on creating a set of theory …
Persistent link: https://www.econbiz.de/10012265454
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Accuracy and speed of the solution methods for sovereign default models : the stable performance of the Tauchen method and cubic spline interpolation
Yamazaki, Takefumi - In: Public policy review 14 (2018) 4, pp. 641-662
Persistent link: https://www.econbiz.de/10011904652
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Determinants of bank lending performance
Ewert, Ralf; Schenk, Gerald - 1998
During the last years the lending business has come under considerable competitive pressure and bank managers often express concern regarding its profitability vis-a-vis other activities. This paper tries to empirically identify factors that are able to explain the financial performance of bank...
Persistent link: https://www.econbiz.de/10009768846
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Earnings predictability, bond ratings, and bond yields
Crabtree, Aaron D.; Maher, John J. - In: Review of quantitative finance and accounting 25 (2005) 3, pp. 233-253
Persistent link: https://www.econbiz.de/10003152350
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Properties of Implied Cost of Capital Using Analysts’ Forecasts
Guay, Wayne R. - 2012
We evaluate the influence of measurement error in analysts' forecasts on the accuracy of implied cost of capital estimates from various implementations of the ‘implied cost of capital' approach, and develop corrections for the measurement error. We document predictable error in the implied...
Persistent link: https://www.econbiz.de/10013114798
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Exploring Managers' Accrual-Related Forecast Bias
Keskek, Sami - 2017
In this study, we examine the effect of accrual-based earnings management on the association between managers' earnings forecast errors and accruals, which we label “managers' accrual-related forecast bias.” We build on extensive research which finds that managers engage in accrual-based...
Persistent link: https://www.econbiz.de/10012955306
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Do Auditors Accurately Predict Litigation and Reputation Consequences of Inaccurate Accounting Estimates?
Gimbar, Christine - 2018
To effectively manage audit risk, auditors must anticipate potential litigation and reputation consequences associated with inaccurate accounting estimates. Our paper examines whether auditors correctly anticipate these consequences. We provided 57 manager- and partner-level auditors with case...
Persistent link: https://www.econbiz.de/10012922475
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Should the Timing of Inspections be Predictable?
Ball, Ian; Knoepfle, Jan - 2023
A principal hires an agent to work on a long-term project that culminates in a breakthrough or a breakdown. At each time, the agent privately chooses to work or shirk. Working increases the arrival rate of breakthroughs and decreases the arrival rate of breakdowns. To motivate the agent to work,...
Persistent link: https://www.econbiz.de/10014357527