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Profitability of Portfolio Strategies Based on Analyst Consensus EPS Forecasts
Baule, Rainer - 2020
valuation. In our empirical application, we use 𝑄 to relate analyst forecasts to stock returns and measure the profitability of …
Persistent link: https://www.econbiz.de/10012856424
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The Present Value of Corporate Profits : A Forecasters' Survey Perspective
Andrle, Michal - 2019
This paper presents and discusses the estimates of the present value of corporate profits in the United States from 1984 to 2018. To value the expected income stream, it uses the long-range forecasts of professional forecasters for pre-tax corporate earnings and long-term Treasury note yields,...
Persistent link: https://www.econbiz.de/10012892904
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Resolving a Paradox : Retail Trades Positively Predict Returns but are Not Profitable
Barber, Brad M.; Lin, Shengle; Odean, Terrance - 2021
Retail order imbalance positively correlates with returns in the days following trades. However, in aggregate, retail investor trades lose money over these same periods. Why? 1) While order imbalance tests value or equally weight stocks, retail purchases are concentrated in stocks earning large...
Persistent link: https://www.econbiz.de/10013241292
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Predicting Profits Within Chains
Bai, Nancy - 2023
Customer momentum refers to the ability of customer returns to predict suppliers returns. I show that this momentum in returns is related to momentum in economic primitives, and specifically in operating profits. In fact, given that accounting information is more gradually incorporated into...
Persistent link: https://www.econbiz.de/10014362278
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Predictions, Profits, and Delays in Prices
Rösch, Dominik; Yu, Yihe - 2023
We argue that high-frequency return predictability can be explained by delays in prices, providing another explanation for why paper profits often do not materialize. We investigate predictability in the US (and international) stock market from 2005 to 2012 and in 2020. We find that 1-minute...
Persistent link: https://www.econbiz.de/10014351322
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A forecasting framework for core domestic banks in Malta
Andreani, Michele - 2024
, with a particular emphasis on bank profitability. Methodologically, it employs two multivariate time series models, namely … alongside a novel bank-level dataset for selected Maltese core banks compiled by merging data from various sources. Forecasting … comprehensive profitability outlook for the Maltese core banking sector. Key findings are summarized as follows: (i) neither of the …
Persistent link: https://www.econbiz.de/10015053640
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An Analysis of the Predictive Ability of Direct Cash Flow Information Under IFRS
Duboisée de Ricquebourg, Alan J. - 2013
In this paper, we examine the predictive ability of direct cash flow information under IFRS. Employing a combination of in- and out-of-sample cross sectional models, we provide the first empirical evidence on the predictive ability of direct cash flow information in an IFRS environment. Under...
Persistent link: https://www.econbiz.de/10013076074
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Do Analysts Strategically Provide Cash Flow Forecasts? A Multi-Theory Multi-Methods Study
Yoo, Choong-Yuel - 2011
achieve the analysts' specific strategic objectives. To investigate this motivation, we use economics based signaling theory … and psychology based support theory to develop our hypotheses and then employ multiple methods to investigate them. First …
Persistent link: https://www.econbiz.de/10013117913
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Measuring risk information
Smith, Kevin; So, Eric - 2020
We develop a measure of how information events impact investors' perceptions of risk that is broadly applicable and simple to implement. We derive this measure from an option-pricing model where investors anticipate an announcement that simultaneously conveys information on the announcer's...
Persistent link: https://www.econbiz.de/10012244502
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Redundant Information and Predictable Returns
Carniol, Michael P - 2019
How well do investors distinguish information that already is priced from genuinely novel and exclusive private information? This paper examines whether investors misweight information that already is in stock prices (“redundant information”) in making their trading decisions. I extend the...
Persistent link: https://www.econbiz.de/10012901563