The role of accounting fundamentals and other information in analyst forecast errors

2018 ◽  
Vol 21 (2) ◽  
pp. 175-194
Author(s):  
Danilo S. Monte-Mor ◽  
Fernando C. Galdi ◽  
Cristiano M. Costa
Keyword(s):  
Analyst Forecast ◽  
Forecast Errors ◽  
Other Information

scholarly journals Examining the role of MEDLINE as a patient care information resource: an analysis of data from the Value of Libraries study

2017 ◽  
Vol 105 (4) ◽  
Author(s):  
Kathel Dunn ◽  
Joanne Gard Marshall ◽  
Amber L. Wells ◽  
Joyce E. B. Backus
Keyword(s):  
Health Care ◽  
Adverse Events ◽  
Patient Care ◽  
Health Care Providers ◽  
Health Care Professionals ◽  
Information Resources ◽  
Information Resource ◽  
Care Providers ◽  
Other Information

Objective: This study analyzed data from a study on the value of libraries to understand the specific role that the MEDLINE database plays in relation to other information resources that are available to health care providers and its role in positively impacting patient care.Methods: A previous study on the use of health information resources for patient care obtained 16,122 responses from health care providers in 56 hospitals about how providers make decisions affecting patient care and the role of information resources in that process. Respondents indicated resources used in answering a specific clinical question from a list of 19 possible resources, including MEDLINE. Study data were examined using descriptive statistics and regression analysis to determine the number of information resources used and how they were used in combination with one another.Results: Health care professionals used 3.5 resources, on average, to aid in patient care. The 2 most frequently used resources were journals (print and online) and the MEDLINE database. Using a higher number of information resources was significantly associated with a higher probability of making changes to patient care and avoiding adverse events. MEDLINE was the most likely to be among consulted resources compared to any other information resource other than journals.Conclusions: MEDLINE is a critical clinical care tool that health care professionals use to avoid adverse events, make changes to patient care, and answer clinical questions.

SARS-CoV-2 Spread Dynamics in Italy: The Calabria Experience

2021 ◽  
Vol 16 ◽  
Author(s):  
Ludovico Abenavoli ◽  
Pietro Cinaglia ◽  
Anna Caterina Procopio ◽  
Raffaele Serra ◽  
Isabella Aquila ◽  
...  
Keyword(s):  
The South ◽  
Epidemic Curve ◽  
Italian Government ◽  
First Case ◽  
Other Information ◽  
Italian National Health Service ◽  
Spread Dynamics ◽  
Italian National Health ◽  
Negative Growth

Introduction: The first case of infection by SARS-CoV-2 (i.e., COVID-19) has been officially recorded by the Italian National Health Service on February 21st, 2020. Lombardy was the first Italian region to be affected by the pandemic. Subsequently, the entire Northern part of Italy recorded a high number of cases, while the South was hit following the migratory waves. On March 8th, the Italian Government has issued a decree that imposed a total lockdown defined as a state of isolation and restricted access in Lombardy and in the other 14 provinces of Northern Italy. Methods: We analyzed the virus trend in the period between February 24th and September 8th, 2020, focusing on Calabria, with regards to the following items: new positives, change of total positives and total cases. Furthermore, we included other information, such as the incubation period, symptom resolution period, quarantine period. Results: On March 27th, the epidemic curve spiked with 101 new positive cases validating the hypothesis that this abnormal event was related to the displacement of non-residents people, living in the Northern part of Italy, to the home regions in the South. The epidemic curve showed a decreasing trend in the period after lockdown proving the effectiveness of this measure. From the end of the lockdown (May 04th) to September 8th, the registered trend was -94.51%. A negative growth rate indicates that the number of new positive cases is lower than the number of healed patients. Conclusion: This study describes the effectiveness of the Italian Government policy, particularly the role of lockdown, for the containment of SARS-CoV-2 contagion in Calabria, a region with a low SARS-CoV-2 infection rate within the registered period.

Towards an Assessment of Public Library Value

2010 ◽  
Vol 2 (2) ◽  
pp. 42-51
Author(s):  
Kristine Paberza
Keyword(s):  
Public Libraries ◽  
Public Library ◽  
Development Project ◽  
Free Access ◽  
The Public ◽  
Use Of Resources ◽  
Other Information ◽  
Library Development ◽  
The Impact

This paper presents methodology, early findings, possible applications of results and lessons learnt from the research study “Public libraries: value, trust and satisfaction”. The study was conducted in Latvia as the part of the impact assessment plan within the public library development project “Third Father’s Son”. The project’s goal was to improve people’s quality of life by strengthening the capacities of public libraries to facilitate better and proactive use of resources offered by free access to information technology and the Internet. In this paper, the author introduces practical results from the measurement of use-oriented value of public libraries by using information from the ecology approach and identifying the role of the public library within a context of other information sources used by the public.

Fundamental Valuation in Seven Asian Countries: Role of Earnings, Book Value, and Dividends

2020 ◽  
pp. 0148558X2094690
Author(s):  
Kriengkrai Boonlert-U-Thai ◽  
Shahrokh M. Saudagaran ◽  
Pradyot K. Sen
Keyword(s):  
Financial Reporting ◽  
Stock Prices ◽  
Asian Countries ◽  
Book Value ◽  
International Firms ◽  
Financial Reporting Standards ◽  
Valuation Model ◽  
Prior Use ◽  
Other Information

We examine the role of earnings, book value, and dividends in examining the valuation of firms in select Asian countries. Besides the usual variables of earnings and book value, inclusion of dividends is motivated by prior use of the variable in the literature, as well as an adaptation of the Ohlson 2001 empirical specification of the valuation model. In our specification, absent credible analysts’ forecasts, as is typical in these markets, dividends together with earnings play the role of “other information” in explaining stock prices. In a large sample of Asian firms from seven Asian countries that lack an active analyst community, we document two key results. First, the model with earnings, book value, and dividends outperforms the earnings capitalization, book value, and a model with earnings and book value together, the traditional benchmarks used in the literature. This is in contrast to Ashbaugh and Olsson, 2002 who find that earnings capitalization is the best model for the international firms. Second, the ability of the model to explain stock valuations does not vary materially over time, thus indicating reasonable consistency across different accounting regimes in these countries that may include International Financial Reporting Standards (IFRS) adaptation at different paces. Our finding highlights the information role of earnings and dividends when other channels of information are blocked.

The Trend in Firm Profitability and the Cross-Section of Stock Returns

2017 ◽  
Vol 92 (5) ◽  
pp. 1-32 ◽  
Author(s):  
Ferhat Akbas ◽  
Chao Jiang ◽  
Paul D. Koch
Keyword(s):  
Risk Factors ◽  
Stock Returns ◽  
Cross Section ◽  
The Other ◽  
Analyst Forecast ◽  
Forecast Errors ◽  
Earnings Surprise ◽  
Firm Profitability ◽  
Earnings Momentum ◽  
Jel Classifications

ABSTRACT This study shows that the recent trajectory of a firm's profits predicts future profitability and stock returns. The predictive information contained in the trend of profitability is not subsumed by the level of profitability, earnings momentum, or other well-known determinants of stock returns. The profit trend also predicts the earnings surprise one quarter later, and analyst forecast errors over the following 12 months, suggesting that sophisticated investors underreact to the information in the profit trend. On the other hand, we find no evidence of investor overreaction, and our results cannot be explained by well-known risk factors. JEL Classifications: G12; G14.

Ratcheting and the Role of Relative Target Setting

2014 ◽  
Vol 89 (4) ◽  
pp. 1197-1226 ◽  
Author(s):  
Carmen Aranda ◽  
Javier Arellano ◽  
Antonio Davila
Keyword(s):  
Data Availability ◽  
Past Performance ◽  
Target Setting ◽  
Performance Targets ◽  
Setting Process ◽  
Other Information ◽  
Absolute Magnitudes ◽  
Using Data ◽  
Individual Information

ABSTRACT: Managers use a variety of information to set performance targets. Using data from 376 branches of a large travel retailer over five years, this study documents supervisors considering the relative performance of comparable units in target setting, which we term relative target setting (RTS). We find evidence of RTS after controlling for individual past performance in the form of ratcheting. Our findings also indicate that RTS partially shapes the use of other information on past performance. Specifically, we find that the magnitude of ratcheting decreases (increases) with RTS for favorable (unfavorable) performance variances, and the asymmetry of ratcheting characterized by different ratcheting coefficients for unfavorable than for favorable variances is significant for large absolute magnitudes of RTS. Managers use the flexibility associated with the subjectivity of the target-setting process to weight peer and individual information differently across different units. Data Availability: The data used in this study cannot be made publicly available due to confidentiality agreements with the participating organization.

Bank officers’ perceptions and uses of qualified audit reports

2014 ◽  
Vol 11 (3) ◽  
pp. 215-237 ◽  
Author(s):  
Nina Sormunen
Keyword(s):  
Financial Statements ◽  
Structured Interviews ◽  
Content Type ◽  
Factors Affecting ◽  
Going Concern ◽  
Other Information ◽  
Audit Reports ◽  
Going Concern Reports ◽  
Practical Implications

Purpose – The purpose of this study is to provide insights into the perceptions and uses of qualified audit reports in financial statements of small- and medium-sized enterprises (SMEs). As there is a long-standing debate on the usefulness of auditor’s going-concern reports, this study aims to provide insights into the factors that affect how banks perceive and use going-concern reports. Design/methodology/approach – Semi-structured interviews with bank officers were conducted. Findings – The study findings demonstrated that bank officers considered that the going-concern report provided information, although they did not regard the information as being particularly useful. The main factors affecting the usefulness of information are use of other information sources and bank officers’ perceptions of auditing. Other factors are also presented and discussed in the current research paper. Practical implications – Regulators have taken the action to improve the auditor’s reporting model, and the findings provided by this study are important because they provide a deeper understanding of the perceptions and uses of audit reports from smaller companies. The study also contributes knowledge about the role of audit reports in the context of SMEs finance. Originality/value – This is one of the first studies to use a qualitative approach to examine factors that affect the use of going-concern reports.

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