search query: @author Dowen, R. J. / total: 3
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| Author: | Dowen, R. J. |
| Title: | Fundamental Information and Monetary Policy: The Implications for Earnings and Earnings Forecasts |
| Journal: | Journal of Business Finance and Accounting
2001 : VOL. 28:3-4, p. 481-502 |
| Index terms: | MONETARY POLICY EARNINGS FORECASTING |
| Language: | eng |
| Abstract: | Building on the work of Lev and Thiagarajan and Abarbanell and Bushee this paper tests whether market-based information including dividend yield, firm size, and the ratio of book value to market value add explanatory power to accounting data for predicting future earnings. The paper also tests whether earnings changes and the predictability of those changes are conditioned on monetary policy. It is found that the ratio of book value to market value is significantly related to earnings changes. Analyst forecast accuracy diners depending on monetary policy regime, but this difference is not due to differing interpretation of fundamental signals on financial statements appearing under differing monetary policy regimes. |
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