The literature on ‘cash flow' or ‘earnings' beta is theoretically well-motivated in its use of fundamentals, instead of … returns, to measure systematic risk. However, empirical measures of earnings beta based on either log-linearizing the return … equation or log-linearizing the clean-surplus accounting identity are often difficult to construct. I construct simple earnings …

Using a novel dataset, we show that components of firms' GAAP earnings stemming from ancillary business activities or … various sections of the 10-K. Excluding them from GAAP earnings yields a core earnings measure that distinguishes between the … recurring and non-recurring components of net income and forecasts future performance. Analysts and market participants are slow …

Earnings differences are a recurring topic of public discussion in Germany. Data from the long-term Socio …-Economic Panel (SOEP) study as well as a separate survey of German employees (LINOS) show that earnings inequalities are generally … perceived as fair while a substantial share of the respondents find the current earnings distribution in Germany unfair. This …