Estimation of future levels and changes in profitability: The effect of the relative position of the firm in its industry and the operating-financing disaggregation
In this paper we examine how the relative position of a firm's Return on Equity (ROE) in industries affects the predictability of the next-year ROE levels, and the ROE changes from year to year. Using Nissim and Penman breakdown into operating and financing drivers, the significant role of the...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Universidad de Murcia
2019-03-01
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| Series: | Revista de Contabilidad: Spanish Accounting Review |
| Subjects: | |
| Online Access: | https://revistas.um.es/rcsar/article/view/367831 |