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This study provides empirical evidence for the efficacy of deriving firms' earnings forecasts from predictions of the complete, conditional probability density function (pdf). Relative to cross-sectional earnings forecasts based on OLS regressions, improvements of accuracy, bias and measures for...
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For the past century, electric utilities and grid operators have both owned and operated resources to maintain the reliability of the grid. This reliability has been controlled through investments in generation, transmission, and distribution assets. Today, a growing number of previously passive...
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This study examines whether investors could use Benford's Law as an aid in determining high-risk areas for investing within their process of decision-making. The business reporting standard XBRL offers the opportunity to easily extract and analyze a sufficient number of monetary items out of...
Persistent link: https://www.econbiz.de/10009485773
The business reporting standard XBRL offers the opportunity to easily extract and analyze a sufficient number of monetary items out of single annual reports for statistical analysis purposes. Using XBRL 10-K reports filed with the SEC EDGAR system, we derive first digit distributions for single...
Persistent link: https://www.econbiz.de/10010211441
The business press generally reports news in quarterly earnings announcements based on the difference between actual earnings and two salient benchmarks: earnings of the same quarter in the previous year, and a consensus drawn from a distribution of forecasts by financial analysts. We evaluate...
Persistent link: https://www.econbiz.de/10012992160
This study aims to see how the auditors in accounting and IT must apply to the various procedures in the audit of financial statements with IT-assisted. When viewed as a whole all the computer-assisted audit tools (CAATs) has its own command as an example of this Benford law. The aim of this...
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