search query: @author Callen, J. L. / total: 13
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| Author: | Bar-Yosef, S. Callen, J. L. Livnat, J. |
| Title: | Autoregressive modeling of earnings-investment causality. |
| Journal: | Journal of Finance
1987 : MAR, VOL. 42:1, p. 11-28 |
| Index terms: | EARNINGS INVESTMENT |
| Language: | eng |
| Abstract: | The relationships between corporate earnings and investments are tested empirically. It is investigated whether knowledge of past investments improves the prediction of future earnings beyond predictions that are based on past earnings alone, whether knowledge of past earnings improves the prediction of future investments beyond knowledge of past investments alone. This is the empirical definition of Granger causality. The empirical results show that the bivariate past series of earnings and investments is superior to the univariate series in predicting future investments but not in predicting future earnings. |
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