In a multiperiod investment framework, firms with high expected growth earn higher expected returns than firms with low expected growth, holding investment and expected profitability constant. This paper forms cross-sectional growth forecasts, and constructs an expected growth factor that yields...

Shareholders' wealth has become an important concept among investors in the globalized economy. Investors who have a variety of options will be interested in evaluating the performance of corporate sector in terms of shareholders' wealth before making any investments. Shareholders' wealth is...

We look for a forecasting model for private investments in Finland. As explanatory variables, we use different proxies of Tobin's Q and cash flow as well as these series decomposed to different frequency components. The forecasts are produced using OLS and National Accounts and Financial...