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Discussion

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  • Chase, David D.

Abstract

In “An Investigation of the Extrapolative Determinants of Short-Run Earnings Expectations,†Professor McEnally has presented a wide spectrum of research results dedicated to the following questions: Are short-run earnings estimates extrapolative and to what extent can these earnings estimates be approximated by familiar extrapolation techniques? His thesis is that expected future earnings are in part a function of prior earnings and that there is much to be learned by fitting a series of regressions or other forecasting models to historical data.

Suggested Citation

  • Chase, David D., 1971. "Discussion," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 6(2), pages 729-731, March.
    • Handle: RePEc:cup:jfinqa:v:6:y:1971:i:02:p:729-731_02
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