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Discussion of: “Contextual Fundamental Analysis Through the Prediction of Extreme Returns”

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  • Richard G. Sloan

    (University of Michigan)

Abstract

Beneish, Lee and Tarpley (2000) represents one of a small, but growing number of studies that develop and test contextual fundamental analysis techniques. Such studies offer great promise for increasing our understanding of the role of accounting information in evaluating firm performance. However, these studies also introduce their own unique research design issues. In this paper, I discuss the opportunities and research design issues facing this new line of research, using Beneish, Lee and Tarpley to illustrate my points.

Suggested Citation

  • Richard G. Sloan, 2001. "Discussion of: “Contextual Fundamental Analysis Through the Prediction of Extreme Returns”," Review of Accounting Studies, Springer, vol. 6(2), pages 191-195, June.
    • Handle: RePEc:spr:reaccs:v:6:y:2001:i:2:d:10.1023_a:1011610808326
    DOI: 10.1023/A:1011610808326
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    References listed on IDEAS

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    1. Magliolo, J, 1986. "Capital-Market Analysis Of Reserve Recognition Accounting," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 24, pages 69-108.
    2. Ou, Jane A. & Penman, Stephen H., 1989. "Financial statement analysis and the prediction of stock returns," Journal of Accounting and Economics, Elsevier, vol. 11(4), pages 295-329, November.
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