Loading...
Please wait, while we are loading the content...
Similar Documents
Do Macroeconomic Conditions Affect Firm-level Earnings Forecasts?
| Content Provider | Semantic Scholar |
|---|---|
| Author | Broadstock, David C. Xu, Bing Sen |
| Copyright Year | 2011 |
| Abstract | We demonstrate the importance of including macroeconomic information when forecasting firms' earnings. Taking Hou et al.'s (2010) cross-sectional model as the starting point for the analysis, we augment the model with three macroeconomic factors derived from a principal component analysis of more than 20 indicators. We find consistent evidence that macroeconomic conditions should be incorporated when predicting firms' future earnings, and particularly in the early sample period, macroeconomic factors therefore enhance the predictive accuracy of the model. |
| File Format | PDF HTM / HTML |
| DOI | 10.7763/IJTEF.2011.V2.147 |
| Alternate Webpage(s) | http://ijtef.org/papers/147-W00042.pdf |
| Alternate Webpage(s) | https://doi.org/10.7763/IJTEF.2011.V2.147 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
