کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
960160 | 929415 | 2011 | 19 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The disparity between long-term and short-term forecasted earnings growth
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
حسابداری
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![عکس صفحه اول مقاله: The disparity between long-term and short-term forecasted earnings growth The disparity between long-term and short-term forecasted earnings growth](/preview/png/960160.png)
چکیده انگلیسی
We find the disparity between long-term and short-term analyst forecasted earnings growth is a robust predictor of future returns and long-term analyst forecast errors. After adjusting for industry characteristics, stocks whose long-term earnings growth forecasts are far above or far below their implied short-term forecasts for earnings growth have negative and positive subsequent risk-adjusted returns along with downward and upward revisions in long-term forecasted earnings growth, respectively. Additional results indicate that investor inattention toward firm-level changes in long-term earnings growth is responsible for these risk-adjusted returns.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Financial Economics - Volume 100, Issue 2, May 2011, Pages 424–442
Journal: Journal of Financial Economics - Volume 100, Issue 2, May 2011, Pages 424–442
نویسندگان
Zhi Da, Mitch Warachka,