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• How do analysts use their earnings forecasts in generating stock recommendations? AI翻译
  作者：Bradshaw, MT
  作者单位：Harvard University
  摘要：This paper examines whether valuation estimates based on analysts' earnings forecasts are consistent with their stock recommendations. Because earnings forecasts are linked to value and recommendations reflect analysts' opinions of value relative to current price, earnings forecasts and stock recommendations should be linked in a predictable manner. I consider four possible valuation models of how earnings forecasts and stock recommendations are linked. These models include two specifications ...
• The balanced scorecard: Judgmental effects of performance measures linked to strategy AI翻译
  作者：Banker, RD; Chang, HS; Pizzini, MJ
  作者单位：University of Texas System; University of Texas Dallas; University of California System; University of California Riverside
  摘要：The balanced scorecard provides a framework for selecting multiple performance measures that supplement traditional financial measures with operating measures of customer satisfaction, internal processes, and learning and growth activities. An essential aspect of the balanced scorecard lies in its articulation of the linkage between performance measures and business strategy. This study conducts an experiment to assess how individuals' evaluations of the performance of business unit managers d...
• PE ratios, PEG ratios, and estimating the implied expected rate of return on equity capital AI翻译
  作者：Easton, PD
  作者单位：University of Notre Dame; University of Melbourne
  摘要：I describe a model of earnings and earnings growth and I demonstrate how this model may be used to obtain estimates of the expected rate of return on equity capital. These estimates are compared with estimates of the expected rate of return implied by commonly used heuristics-viz., the PEG ratio and the PE ratio. Proponents of the PEG ratio (which is the price-earnings [PE] ratio divided by the short-term earnings growth rate) argue that this ratio takes account of differences in shortrun earn...
• Self-selection of auditors and audit pricing in private firms AI翻译
  作者：Chaney, PK; Jeter, DC; Shivakumar, L
  作者单位：Vanderbilt University
  摘要：Prior research has examined audit pricing for publicly held firms and provided some evidence of a Big 8 premium in pricing. We investigate audit pricing among private firms, and provide evidence that private firms do not pay such a premium on average. The relatively greater degree of dispersion in auditor choice (between Big 5 and non-Big 5 auditors) in our large sample of privately held audit clients allows us to predict the auditor choice for each firm and to control for potential self-selec...