Karampinis, Nikolaos I.; Lessis, Giannis D. - 2021
In this paper, we illuminate the importance of accounting conservatism adjustments when estimating the implied cost of … for three main limitations in the research of ICC, that is, accounting conservatism, analyst over-optimism, and the … degrees of freedom problem (i.e. different forecasting horizons), and compare their effects. We show that, after conservatism …