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Why do firms lobby? This paper exploits the unanticipated sequestration of federal budget accounts in March 2013 that reduced the availability of government funds disbursed through procurement contracts to shed light on this question. Following this event, firms with little or no prior exposure...
Persistent link: https://www.econbiz.de/10012864096
Initial Gross Domestic Product (GDP) announcements are important economic signals that convey information on the state of the economy but contain substantial estimation error. We investigate how GDP estimation errors affect firms' real decisions and profitability. Consistent with theoretical...
Persistent link: https://www.econbiz.de/10012852580
Digitalization and the innovative use of digital technologies is changing the way we work, learn, communicate, buy and sell products. One emerging digital technology of growing importance is cloud computing. More and more businesses, governments and households are purchasing hardware and...
Persistent link: https://www.econbiz.de/10012826022
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
This study sheds new light on the cross-sectional effects of inflation, which have substantial implications for stock valuation. I use financial statement analysis to examine systematic stock-valuation effects of aggregate price-level changes on individual companies, focusing on the implications...
Persistent link: https://www.econbiz.de/10011259622
The paper presents in the first part theoretical aspects regarding merchandise imports on one’s own account, on short term trade credit. In the second part it approaches a practical application of accounts related to merchandise imports on one’s own account, on short term trade credit....
Persistent link: https://www.econbiz.de/10005001815
In this paper, first, the MIMIC estimation method is described and criticized and due to a double counting problem a correction is suggested. Second, the measurement methods used for National Accounts Statistics - the discrepancy method and two new micro survey methods - are described and a...
Persistent link: https://www.econbiz.de/10011916754
In this paper, first, six micro (4) and macro (2) estimation approaches are briefly described; they are the National Accounts Statistics discrepancy method and two new micro survey methods, a third one using a combination of company manager surveys and their knowledge to calibrate the size of the...
Persistent link: https://www.econbiz.de/10012799734
In this paper, first, the MIMIC estimation method is described and criticized and due to a double counting problem a correction is suggested. Second, the measurement methods used for National Accounts Statistics – the discrepancy method and two new micro survey methods – are described and a...
Persistent link: https://www.econbiz.de/10011698689
Monthly economic indicators are used for a variety of purposes, from studying business cycles to determining economic policy and making informed business decisions. China's published monthly industrial output statistics could hardly be more confusing, with changes in variables, in coverage, in...
Persistent link: https://www.econbiz.de/10013088423