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The Level and Persistence of Growth Rates

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Cited by:

  1. Fernandez, Pablo & Aguirreamalloa, Javier & Liechtenstein, Heinrich, 2009. "The equity premium puzzle: High required equity premium, undervaluation and self fulfilling prophecy," IESE Research Papers D/821, IESE Business School.
  2. Coad, Alex & Frankish, Julian S. & Roberts, Richard G. & Storey, David J, 2015. "Are firm growth paths random? A reply to “Firm growth and the illusion of randomness”," Journal of Business Venturing Insights, Elsevier, vol. 3(C), pages 5-8.
  3. Kryzanowski, Lawrence & Rahman, Abdul H., 2009. "Degrees-of-freedom problem and implied cost of equity capital," Finance Research Letters, Elsevier, vol. 6(3), pages 171-178, September.
  4. He, Shuoyuan & Narayanamoorthy, Ganapathi (Gans), 2020. "Earnings acceleration and stock returns," Journal of Accounting and Economics, Elsevier, vol. 69(1).
  5. Blau, Benjamin M. & Wade, Chip, 2012. "Informed or speculative: Short selling analyst recommendations," Journal of Banking & Finance, Elsevier, vol. 36(1), pages 14-25.
  6. Mei-Chen Lin & J. Jimmy Yang, 2023. "Do lottery characteristics matter for analysts’ forecast behavior?," Review of Quantitative Finance and Accounting, Springer, vol. 61(3), pages 1057-1091, October.
  7. Ľuboš Pástor & Meenakshi Sinha & Bhaskaran Swaminathan, 2008. "Estimating the Intertemporal Risk–Return Tradeoff Using the Implied Cost of Capital," Journal of Finance, American Finance Association, vol. 63(6), pages 2859-2897, December.
  8. Eero Pätäri & Timo Leivo, 2017. "A Closer Look At Value Premium: Literature Review And Synthesis," Journal of Economic Surveys, Wiley Blackwell, vol. 31(1), pages 79-168, February.
  9. Kevin Aretz & Marc Aretz, 2016. "Which stocks drive the size, value, and momentum anomalies and for how long? Evidence from a statistical leverage analysis," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 30(1), pages 19-61, February.
  10. Lansing, Kevin J., 2006. "Lock-In Of Extrapolative Expectations In An Asset Pricing Model," Macroeconomic Dynamics, Cambridge University Press, vol. 10(3), pages 317-348, June.
  11. Lambert, David & Matolcsy, Zoltan & Wyatt, Anne, 2015. "Analysts' earnings forecasts and technological conditions in the firm's investment environment," Journal of Contemporary Accounting and Economics, Elsevier, vol. 11(2), pages 104-120.
  12. George Christodoulakis & Konstantinos Stathopoulos & Nikolaos Tessaromatis, 2012. "The term structure of loss preferences and rationality in analyst earnings forecasts," Journal of Asset Management, Palgrave Macmillan, vol. 13(5), pages 310-326, October.
  13. Guanghong Zhang & Yune Lee, 2021. "Determinants of Financial Performance in China’s Intelligent Manufacturing Industry: Innovation and Liquidity," IJFS, MDPI, vol. 9(1), pages 1-19, March.
  14. Michael Lacina & Byung Ro, 2013. "Market implied future earnings and analysts’ forecasts," Review of Quantitative Finance and Accounting, Springer, vol. 41(2), pages 295-341, August.
  15. Peter Kugler & Beatrice Weder, 2004. "International Portfolio Holdings and Swiss Franc Asset Returns," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 140(III), pages 301-325, September.
  16. Murillo Campello & Long Chen & Lu Zhang, 2008. "Expected returns, yield spreads, and asset pricing tests," Review of Financial Studies, Society for Financial Studies, vol. 21(3), pages 1297-1338, May.
  17. Sergey Grishunin & Svetlana Suloeva & Ekaterina Burova, 2022. "Development of Risk Management Mechanism and the System of Risk Metrics to Evaluate and Enhance the Long-Term Orientation of the Strategies of Non-Financial Companies," Risks, MDPI, vol. 10(9), pages 1-16, September.
  18. Tokic, Damir, 2011. "Rational destabilizing speculation, positive feedback trading, and the oil bubble of 2008," Energy Policy, Elsevier, vol. 39(4), pages 2051-2061, April.
  19. Neururer, Thaddeus, 2022. "Meet-or-beat streak heterogeneity and equity prices," The Quarterly Review of Economics and Finance, Elsevier, vol. 86(C), pages 455-470.
  20. Zhi Da & Ravi Jagannathan & Jianfeng Shen, 2014. "Growth Expectations, Dividend Yields, and Future Stock Returns," NBER Working Papers 20651, National Bureau of Economic Research, Inc.
  21. Rutger-Jan Lange & Coen N. Teulings, 2021. "The option value of vacant land: Don't build when demand for housing is booming," Tinbergen Institute Discussion Papers 21-022/IV, Tinbergen Institute.
  22. Kryzanowski, Lawrence & Mohsni, Sana, 2013. "Growth of aggregate corporate earnings and cash-flows: Persistence and determinants," International Review of Economics & Finance, Elsevier, vol. 25(C), pages 13-23.
  23. Etienne Theising & Dominik Wied & Daniel Ziggel, 2021. "Reference Class Selection in Similarity-Based Forecasting of Sales Growth," Papers 2107.11133, arXiv.org, revised Nov 2022.
  24. Martin, Ian W.R. & Nagel, Stefan, 2022. "Market efficiency in the age of big data," Journal of Financial Economics, Elsevier, vol. 145(1), pages 154-177.
  25. Giordani, Paolo & Soderlind, Paul, 2006. "Is there evidence of pessimism and doubt in subjective distributions? Implications for the equity premium puzzle," Journal of Economic Dynamics and Control, Elsevier, vol. 30(6), pages 1027-1043, June.
  26. Kjell Bjørn Nordal & Randi Næs, 2009. "Mean reversion in profitability for non-listed firms," Working Paper 2009/29, Norges Bank.
  27. Hou, Kewei & Xue, Chen & Zhang, Lu, 2017. "Replicating Anomalies," Working Paper Series 2017-10, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
  28. Papanastasopoulos, Georgios & Thomakos, Dimitrios & Wang, Tao, 2011. "Information in balance sheets for future stock returns: Evidence from net operating assets," International Review of Financial Analysis, Elsevier, vol. 20(5), pages 269-282.
  29. Alexander Hölzl & Sebastian Lobe, 2016. "Predicting above-median and below-median growth rates," Review of Managerial Science, Springer, vol. 10(1), pages 105-133, January.
  30. Christoffersen, Peter & Fournier, Mathieu & Jacobs, Kris & Karoui, Mehdi, 2021. "Option-Based Estimation of the Price of Coskewness and Cokurtosis Risk," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 56(1), pages 65-91, February.
  31. Andreas Fuster & Benjamin Hebert & David Laibson, 2012. "Natural Expectations, Macroeconomic Dynamics, and Asset Pricing," NBER Macroeconomics Annual, University of Chicago Press, vol. 26(1), pages 1-48.
  32. Etienne Theising & Dominik Wied & Daniel Ziggel, 2023. "Reference class selection in similarity‐based forecasting of corporate sales growth," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 42(5), pages 1069-1085, August.
  33. Yu, Jialin, 2011. "Disagreement and return predictability of stock portfolios," Journal of Financial Economics, Elsevier, vol. 99(1), pages 162-183, January.
  34. Zheng, Steven X., 2007. "Are IPOs really overpriced?," Journal of Empirical Finance, Elsevier, vol. 14(3), pages 287-309, June.
  35. Robert Rieg, 2015. "Dynamics of value-based management: does shareholder value cause short-termism?," Journal of Management Control: Zeitschrift für Planung und Unternehmenssteuerung, Springer, vol. 26(2), pages 193-224, August.
  36. Esplin, Adam, 2022. "Industry-level versus firm-level forecasts of long-term earnings growth," Finance Research Letters, Elsevier, vol. 47(PA).
  37. Alexander Nezlobin & Madhav V. Rajan & Stefan Reichelstein, 2016. "Structural properties of the price-to-earnings and price-to-book ratios," Review of Accounting Studies, Springer, vol. 21(2), pages 438-472, June.
  38. Jason G. Cummins & Kevin A. Hassett & Stephen D. Oliner, 2006. "Investment Behavior, Observable Expectations, and Internal Funds," American Economic Review, American Economic Association, vol. 96(3), pages 796-810, June.
  39. Ramnath, Sundaresh & Rock, Steve & Shane, Philip, 2008. "The financial analyst forecasting literature: A taxonomy with suggestions for further research," International Journal of Forecasting, Elsevier, vol. 24(1), pages 34-75.
  40. John Fender, 2015. "Towards a General Theory of the Stock Market," Discussion Papers 15-15, Department of Economics, University of Birmingham.
  41. Hou, Kewei & Mo, Haitao & Xue, Chen & Zhang, Lu, 2017. "The Economics of Value Investing," Working Paper Series 2017-16, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
  42. John Maher & Robert Brown & Raman Kumar, 2008. "Firm valuation, abnormal earnings, and mutual funds flow," Review of Quantitative Finance and Accounting, Springer, vol. 31(2), pages 167-189, August.
  43. Roger K. Loh & Mitch Warachka, 2012. "Streaks in Earnings Surprises and the Cross-Section of Stock Returns," Management Science, INFORMS, vol. 58(7), pages 1305-1321, July.
  44. Nordal, Kjell Bjorn & Naes, Randi, 2010. "The relationship between bankruptcy risk and growth for non-listed firms," UiS Working Papers in Economics and Finance 2010/10, University of Stavanger.
  45. Anthony Flint & Andrew Tan & Gary Tian, 2010. "Predicting Future Earnings Growth: A Test Of The Dividend Payout Ratio In The Australian Market," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 4(2), pages 43-58.
  46. Erwan Morellec & Boris Nikolov & Norman Schürhoff, 2012. "Corporate Governance and Capital Structure Dynamics," Journal of Finance, American Finance Association, vol. 67(3), pages 803-848, June.
  47. Da, Zhi & Warachka, Mitch, 2011. "The disparity between long-term and short-term forecasted earnings growth," Journal of Financial Economics, Elsevier, vol. 100(2), pages 424-442, May.
  48. Giordani, Paolo & Söderlind, Paul, 2002. "Is there Evidence of Pessimism and Doubt in Subjective Distributions? A Comment on Abel," SSE/EFI Working Paper Series in Economics and Finance 519, Stockholm School of Economics, revised 01 Oct 2003.
  49. Naresh Bansal & Jack Strauss & Alireza Nasseh, 2015. "Can we consistently forecast a firm’s earnings? Using combination forecast methods to predict the EPS of Dow firms," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 39(1), pages 1-22, January.
  50. Yu, Susana & Lord, Richard A. & Webb, Gwendolyn, 2010. "The hot-growth companies: How well do analysts predict their performance?," Journal of Economics and Business, Elsevier, vol. 62(3), pages 195-219, May.
  51. Kaufman, Phillip R. & Bjornson, Bruce, 2004. "Change And Firm Valuation In U.S. Food Retailing And Manufacturing," Journal of Food Distribution Research, Food Distribution Research Society, vol. 35(2), pages 1-12, July.
  52. Jamie Alcock & Thomas Mollee & James Wood, 2011. "Volatile earnings growth, the price of earnings and the Value premium," Quantitative Finance, Taylor & Francis Journals, vol. 11(6), pages 805-815.
  53. Chunhua Chen & Chuntai Jin & Tianze Li & Steven X. Zheng, 2018. "IPO valuation and offering size," Risk Management, Palgrave Macmillan, vol. 20(2), pages 95-120, May.
  54. Niels Joachim Gormsen & Eben Lazarus, 2023. "Duration‐Driven Returns," Journal of Finance, American Finance Association, vol. 78(3), pages 1393-1447, June.
  55. Tokic, Damir, 2012. "The economic and financial dimensions of degrowth," Ecological Economics, Elsevier, vol. 84(C), pages 49-56.
  56. Laura X.L. Liu & Jerold B. Warner & Lu Zhang, 2005. "Momentum Profits and Macroeconomic Risk," NBER Working Papers 11480, National Bureau of Economic Research, Inc.
  57. Bing Han & Dong Hong & Mitch Warachka, 2009. "Forecast Accuracy Uncertainty and Momentum," Management Science, INFORMS, vol. 55(6), pages 1035-1046, June.
  58. Nguyen, Phuong-Anh & Kecskés, Ambrus, 2020. "Do technology spillovers affect the corporate information environment?," Journal of Corporate Finance, Elsevier, vol. 62(C).
  59. Prem Jain & Joshua Rosett, 2006. "Macroeconomic variables and the E/P ratio: Is inflation really positively associated with the E/P ratio?," Review of Quantitative Finance and Accounting, Springer, vol. 27(1), pages 5-26, August.
  60. Monika Chopra & Abhishek Miglani, 2018. "Do stock markets acceptably reflect earnings manipulation? Analysis of Indian manufacturing firms," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 45(3), pages 271-280, September.
  61. Heinrichs, Nicolas & Hess, Dieter & Homburg, Carsten & Lorenz, Michael & Sievers, Soenke, 2011. "Extended dividend, cash flow and residual income valuation models: Accounting for deviations from ideal conditions," CFR Working Papers 11-11, University of Cologne, Centre for Financial Research (CFR).
  62. Wolfgang Drobetz & Roger Fix, 2005. "What are the Determinants of the Capital Structure? Evidence from Switzerland," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 141(I), pages 71-113, March.
  63. Kartal Demirgunes, 2016. "The Effect of Liquidity on Financial Performance: Evidence from Turkish Retail Industry," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 8(4), pages 63-79, April.
  64. Kwame Addae-Dapaah & James Webb & Kim Ho & Yan Tan, 2010. "Industrial Real Estate Investment: Does the Contrarian Strategy Work?," The Journal of Real Estate Finance and Economics, Springer, vol. 41(2), pages 193-227, August.
  65. Gow-Cheng Huang & Kartono Liano & Ming-Shiun Pan, 2006. "Do stock splits signal future profitability?," Review of Quantitative Finance and Accounting, Springer, vol. 26(4), pages 347-367, June.
  66. Steven A. Sharpe, 2002. "How does the market interpret analysts' long-term growth forecasts?," Finance and Economics Discussion Series 2002-7, Board of Governors of the Federal Reserve System (U.S.).
  67. Yan Chen & Michael Song, 2022. "The persistence and dynamics of new venture growth," Small Business Economics, Springer, vol. 58(1), pages 303-322, January.
  68. He, Zhongzhi & Kryzanowski, Lawrence, 2007. "Cost of equity for Canadian and U.S. sectors," The North American Journal of Economics and Finance, Elsevier, vol. 18(2), pages 215-229, August.
  69. Chuntai Jin & Tianze Li & Steven Xiaofan Zheng, 2016. "IPO Offering Size and Analyst Forecasts," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 19(03), pages 1-25, September.
  70. Miwa, Kotaro, 2016. "Investor sentiment, stock mispricing, and long-term growth expectations," Research in International Business and Finance, Elsevier, vol. 36(C), pages 414-423.
  71. Jung, Boochun & Shane, Philip B. & Sunny Yang, Yanhua, 2012. "Do financial analysts' long-term growth forecasts matter? Evidence from stock recommendations and career outcomes," Journal of Accounting and Economics, Elsevier, vol. 53(1), pages 55-76.
  72. Robert Parham, 2023. "Facts of US Firm Scale and Growth 1970-2019: An Illustrated Guide," Papers 2302.02485, arXiv.org.
  73. Henderson, Brian J. & Marks, Joseph M., 2013. "Predicting forecast errors through joint observation of earnings and revenue forecasts," Journal of Banking & Finance, Elsevier, vol. 37(11), pages 4265-4277.
  74. Wolfgang Drobetz & Gabrielle Wanzenried, 2006. "What determines the speed of adjustment to the target capital structure?," Applied Financial Economics, Taylor & Francis Journals, vol. 16(13), pages 941-958.
  75. Meitner, Matthias, 2003. "Option-Style Multi-Factor Comparable Company Valuation for Practical Use," ZEW Discussion Papers 03-76, ZEW - Leibniz Centre for European Economic Research.
  76. Jerry W. Chen & Jing Zhou, 2021. "Valuing Initial Public Offerings Using Article 11 Pro Forma Financial Information in the Prospectus," Contemporary Accounting Research, John Wiley & Sons, vol. 38(1), pages 707-739, March.
  77. Brennan, Michael J, 2004. "How Did It Happen?," University of California at Los Angeles, Anderson Graduate School of Management qt1047x6kv, Anderson Graduate School of Management, UCLA.
  78. Li, Junye, 2012. "Option-implied volatility factors and the cross-section of market risk premia," Journal of Banking & Finance, Elsevier, vol. 36(1), pages 249-260.
  79. Anagnostopoulou, Seraina C. & Levis, Mario, 2008. "R&D and performance persistence: Evidence from the United Kingdom," The International Journal of Accounting, Elsevier, vol. 43(3), pages 293-320, September.
  80. Chiao, Chaoshin & Lin, Tung-Ying & Lee, Cheng-Few, 2017. "The reactions to on-air stock reports: Prices, volume, and order submission behavior," Pacific-Basin Finance Journal, Elsevier, vol. 44(C), pages 27-46.
  81. Byunghwan Lee & John O’Brien & K. Sivaramakrishnan, 2010. "Availability Heuristic and Observed Bias in Growth Forecasts: Evidence from an Analysis of Multiple Business Cycles," Chapters, in: Brian Bruce (ed.), Handbook of Behavioral Finance, chapter 13, Edward Elgar Publishing.
  82. Wang, Ming-Hui & Ke, Mei-Chu & Liang Liao, Tung & Chiang, Yi-Chein & Hsu, Chuan-Hao, 2020. "Alternative estimation method of earnings growth rate for PEGR strategy," The North American Journal of Economics and Finance, Elsevier, vol. 53(C).
  83. Ambrus Kecskés & Roni Michaely & Kent L. Womack, 2017. "Do Earnings Estimates Add Value to Sell-Side Analysts’ Investment Recommendations?," Management Science, INFORMS, vol. 63(6), pages 1855-1871, June.
  84. Wu, Wan-Ting, 2014. "The forward E/P ratio and earnings growth," Advances in accounting, Elsevier, vol. 30(1), pages 128-142.
  85. Drobetz, Wolfgang & Pensa, Pascal & Wanzenried, Gabrielle, 2007. "Firm Characteristics, Economic Conditions and Capital Structure Adjustment," Working papers 2007/16, Faculty of Business and Economics - University of Basel.
  86. repec:dau:papers:123456789/1756 is not listed on IDEAS
  87. Damir Tokic, 2012. "The passive investor puzzle," Journal of Asset Management, Palgrave Macmillan, vol. 13(2), pages 141-154, April.
  88. Wolfgang Drobetz & Gabrielle Wanzenried, 2004. "What Determines the Speed of Adjustment to the Target Capital Structure?," Diskussionsschriften dp0415, Universitaet Bern, Departement Volkswirtschaft.
  89. Kryzanowski, Lawrence & Mohsni, Sana, 2010. "Capital returns, costs and EVA for Canadian firms," The North American Journal of Economics and Finance, Elsevier, vol. 21(3), pages 256-273, December.
  90. Jerker Denrell & Christina Fang & Chengwei Liu, 2015. "Perspective—Chance Explanations in the Management Sciences," Organization Science, INFORMS, vol. 26(3), pages 923-940, June.
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