Discussion of "How well do investors understand loss persistence?"

作者：Resutek Robert J^*

来源：Review of Accounting Studies, 2011, 16(3): 668-678.

DOI：10.1007/s11142-011-9154-7

• Earnings forecasts
• Return anomalies
• Loss persistence

Li (Rev Acc Stud, 2011) proposes a quarterly earnings prediction model for loss generating firms, shows that it produces better specified future earnings estimates relative to na < ve quarterly forecast models, and that it can be used to form a trading strategy that produces economically significant annual hedge returns. I discuss alternative perspectives on Li's empirical results and suggest directions for future research.

• 出版日期2011-9