Showing 1 - 10 of 195,980
I investigate the dynamics of analyst forecast errors relative to economic policy uncertainty and find a significant … positive relation between economic policy uncertainty and analyst forecast errors. A doubling of economic policy uncertainty is … associated with a 4.29 percentage points increase in earnings (EPS) forecast errors, and the volatility and dispersion in analyst …
Persistent link: https://www.econbiz.de/10012868071
We review the literature on return and cash flow growth predictability form the perspective of the present-value identity. We focus predominantly on recent work. Our emphasis is on U.S. aggregate stock return predictability, but we also discuss evidence from other asset classes and countries
Persistent link: https://www.econbiz.de/10013132300
We have seen China's growing role in the past decades, and the world economy has become more exposed to the influence of China. This paper explores emerging China's impact on the global equity market through the lens of asset pricing. We study the predictive properties of the lagged China...
Persistent link: https://www.econbiz.de/10012824300
Warren Buffett suggested that the ratio of the market value of all publicly traded stocks to the Gross National Product could identify potential overvaluations and undervaluations in the US equity market. We investigate whether this ratio is a statistically significant predictor of equity market...
Persistent link: https://www.econbiz.de/10012971424
existing pure earnings-forecast momentum strategies and remain profitable after transaction costs. We show that analysts …
Persistent link: https://www.econbiz.de/10012856424
Persistent link: https://www.econbiz.de/10012987861
high sentiment periods. Sell-side analysts similarly underreact, as their forecast revisions of geography-linked firms …
Persistent link: https://www.econbiz.de/10013251326
The purpose of this paper is to analyse the predictability of earnings information before the quarterly disclosure date. Two categories of firms are contrasted: the firms that announce better quarterly earnings than the prior period and the firms that do not. The paper uses a sample of 67...
Persistent link: https://www.econbiz.de/10013183853
We examine whether real-time return forecasts are valuable to an investor looking to allocate their portfolio across a wide selection of countries. We expand the Sum-of-Parts (SoP) method for forecasting stock returns to an international setup by adding FX returns as an additional component. We...
Persistent link: https://www.econbiz.de/10013403620
This paper documents a significantly negative cross-sectional relation between machine forecast disagreement (MFD) and …
Persistent link: https://www.econbiz.de/10013405040