We investigate the monetary linkage between aggregate accounting profitability changes and inflation. Recent previous evidence reveals a strong relation between aggregate earnings changes and the three components of expected stock market returns (i.e., real riskless rate, expected inflation, and...

We investigate the implications of voluntary forecasting activity on the persistence of actual reported figures. We further explore the impact of managements' error direction (i.e. pessimistic versus optimistic manager) on the persistence of actual reported figures. We finally explore whether...