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Ritter, Jay - 2015

Growth capital investing is the financing of growing businesses that are investing in tangible assets and the acquisition of other companies. Growth capital is common in retailing, restaurant chains, and health care management, and represents 12% of all venture capital (VC)-backed initial public...

Persistent link: https://www.econbiz.de/10013033536

Does macroeconomic misery index matter in the micro firm-level earnings management : performance nexus? : evidence from dynamic panel threshold regression

Mensah, Emmanuel; Tuffour, Joseph Kwadwo; Al-Faryan, … - In: Cogent economics & finance 11 (2023) 2, pp. 1-31

Earnings management (EM) and its association with firm performance has been a subject of research interest for decades. This study re-examines the EM-firm performance nexus in a novel way using a nonlinear framework and introducing macro-economic misery index (MI) as a possible threshold...

Persistent link: https://www.econbiz.de/10014500974

Do Industry Growth Prospects Drive IPO Stock Performance?

Dong, Ming - 2012

We examine the relation between an ex ante measure of IPO growth prospects – the industry-level long-term analyst earnings growth forecast – and short- and long-run IPO returns, using a sample of 7,570 IPOs from 1982 to 2007. The use of an industry-level, rather than firm-level growth...

Persistent link: https://www.econbiz.de/10013115063

The Implications of Accounting Distortions and Growth for Accruals and Profitability

Richardson, Scott A.; Sloan, Richard G.; Soliman, Mark T.; … - 2006

literature follows Sloan's lead in arguing that this result is attributable to accounting distortions (Xie, 2001; Dechow and … indicating that temporary accounting distortions are a significant contributing factor to the lower persistence of the accrual …

Persistent link: https://www.econbiz.de/10014060551

Is accounting useful for forecasting gdp growth? : a machine learning perspective

Datar, Srikant M.; Jain, Apurv; Wang, Charles C. Y.; … - 2021

We provide a comprehensive examination of whether, to what extent, and which accounting variables are useful for … the prediction models. For near-term (current and next-quarter) GDP growth, accounting does not improve the out …-of-sample accuracy of predictions because the professional forecasters' predictions are relatively efficient. Accounting's predictive …

Persistent link: https://www.econbiz.de/10012586393

The Persistence and Pricing of Merger-Related Transitory Growth and Its Implications for Growth Anomalies and Asset Pricing Models

Collins, Daniel W. - 2015

Prior literature in accounting and financial economics measures asset growth as year-over-year growth in total assets …

Persistent link: https://www.econbiz.de/10013036298

Are Wealthy Economies Expected to Have Better Accounting Quality? Hypothesis Development

Pirveli, Erekle - 2018

accounting quality compared to their poor counterparts. Prior literature has suggested that wealthy economies are expected to …, legal and political systems, which should ultimately lead to better accounting quality. This paper argues that while … examining the relation between country wealth and accounting quality, it is vital to distinguish between controlling-useful and …

Persistent link: https://www.econbiz.de/10012912061

Ex-ante Expectation Errors and the Asset Growth Effect

Lam, FY Eric - 2019

We measure ex-ante expectation errors by identifying sporadic versus persistent total asset growth ex-ante. Corporate profitability of high (low) asset-growth firms remains inferior (superior) after temporary asset expansion (contraction), hence ex-ante expectation errors are high. Corporate...

Persistent link: https://www.econbiz.de/10012905750

How Pervasive and Investable is the Asset Growth Anomaly?

Kot, Hung Wan - 2020

Based on U.S. stock returns from 1973 to 2015, this study found that the asset growth anomaly does not seem to be pervasive and investable. The trading strategy is robust only among a tiny portion of the equity market in terms of both number of stocks and capitalization. In addition to...

Persistent link: https://www.econbiz.de/10012853698

Does Coverage by Long-term Growth Forecasting Analysts Mitigate Market Underreaction to Information about Innovative Efficiency?

Chen, Jeff Zeyun - 2020

Prior research finds that investors have difficulty pricing corporate innovation. This paper investigates the role of long-term growth forecasting financial analysts in the efficiency of stock prices and consensus sell-side analyst forecasts, with respect to information about firms' innovative...

Persistent link: https://www.econbiz.de/10012855092