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最新文章

• Discussion of Improving financial reports by revealing the accuracy of prior estimates AI翻译
  作者：Petroni, KR
  作者单位：Michigan State University
• Discussion of Independence in appearance and in fact: An experimental investigation AI翻译
  作者：Zhang, P
  作者单位：University of Toronto
• Discussion of Do investors overrely on old elements of the earnings time series? AI翻译
  作者：Hopkins, PE
  作者单位：Stanford University; Indiana University System; Indiana University Bloomington
• The relative and incremental explanatory power of earnings and alternative (to earnings) performance measures for returns AI翻译
  作者：Francis, J; Schipper, K; Vincent, L
  作者单位：Duke University; Northwestern University
  摘要：We analyze the ability of earnings and non-earnings performance metrics to explain the variability in annual stock returns for industries where we identify, ex ante, an allegedly preferred (for valuation purposes) summary performance metric. We identify three industries where earnings before interest, taxes, depreciation, and amortization (EBITDA) and cash from operations (CFO) are preferred, and three industries where specific non-GAAP performance metrics are preferred. As a benchmark, we als...