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OverviewFinancial Statement Analysis and Earnings Forecasting is the process of analyzing historical financial statement data for the purpose of developing forecasts of future earnings. This process is important because it is central to the valuation of companies and the securities they issue. After a short introduction, Section 2 delves into the question “Why earnings”? Focusing on dividend policy irrelevance, the author describes key analytical results that imply that expected earnings are the fundamental determinant of both equity and enterprise value. Section 3 examines the issues involved in selecting the earnings metric to forecast. Once an earnings metric has been chosen, the next question to ask is “How useful are historical accounting numbers for developing forecasts of that metric?” Sections 4 through 8 focus on this question. Section 4 discusses the general role of econometric modeling. Section 5 reviews time-series models. Section 6 examines the choices a researcher makes when using panel-data approaches and the author describes the advantages of these approaches. Section 7 reviews the role of accounting measurement in determining the usefulness of historical accounting numbers for developing forecasts of future earnings. Section 8 examines approaches for forecasting the higher moments of future earnings and section 9 provides a summary. Full Product DetailsAuthor: Steven J. MonahanPublisher: now publishers Inc Imprint: now publishers Inc Weight: 0.120kg ISBN: 9781680834505ISBN 10: 1680834509 Pages: 124 Publication Date: 17 July 2018 Audience: Professional and scholarly , Professional & Vocational Format: Paperback Publisher's Status: Active Availability: In Print This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us. Table of Contents1. Introduction 2. Why Earnings? 3. Selecting an Earnings Metric 4. The Role of Econometric Modeling 5. Time-series Models 6. Panel-data Approaches 7. Accounting Measurement and Earnings Predictability 8. Forecasting the Higher Moments of Future Earnings 9. Summary Acknowledgements ReferencesReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |