Matches in SemOpenAlex for { <https://semopenalex.org/work/W2166367195> ?p ?o ?g. }
- W2166367195 abstract "We evaluate the influence of measurement error in analysts' forecasts on the accuracy of implied cost of capital estimates from various implementations of the 'implied cost of capital' approach, and develop corrections for the measurement error. The implied cost of capital approach relies on analysts' short- and long-term earnings forecasts as proxies for the market's expectation of future earnings, and solves for the implied discount rate that equates the present value of the expected future payoffs to the current stock price. We document predictable error in the implied cost of capital estimates resulting from analysts' forecasts that are sluggish with respect to information in past stock returns. We propose two methods to mitigate the influence of sluggish forecasts on the implied cost of capital estimates. These methods substantially improve the ability of the implied cost of capital estimates to explain cross-sectional variation in future stock returns, which is consistent with the corrections being effective in mitigating the error in the estimates due to analysts' sluggishness." @default.
- W2166367195 created "2016-06-24" @default.
- W2166367195 creator A5003753091 @default.
- W2166367195 creator A5013175917 @default.
- W2166367195 creator A5062630269 @default.
- W2166367195 date "2003-01-01" @default.
- W2166367195 modified "2023-10-16" @default.
- W2166367195 title "Properties of Implied Cost of Capital Using Analysts' Forecasts" @default.
- W2166367195 cites W1546044195 @default.
- W2166367195 cites W1580611202 @default.
- W2166367195 cites W1963969817 @default.
- W2166367195 cites W1966268097 @default.
- W2166367195 cites W1978078888 @default.
- W2166367195 cites W1988744644 @default.
- W2166367195 cites W1995834279 @default.
- W2166367195 cites W2010997253 @default.
- W2166367195 cites W2038621549 @default.
- W2166367195 cites W2040281045 @default.
- W2166367195 cites W2047134779 @default.
- W2166367195 cites W2049783972 @default.
- W2166367195 cites W2068119505 @default.
- W2166367195 cites W2069138850 @default.
- W2166367195 cites W2071892020 @default.
- W2166367195 cites W2082394957 @default.
- W2166367195 cites W2091165963 @default.
- W2166367195 cites W2096706783 @default.
- W2166367195 cites W2096865524 @default.
- W2166367195 cites W2104795328 @default.
- W2166367195 cites W2113305199 @default.
- W2166367195 cites W2118950487 @default.
- W2166367195 cites W2125520394 @default.
- W2166367195 cites W2131177033 @default.
- W2166367195 cites W2147945105 @default.
- W2166367195 cites W2149367714 @default.
- W2166367195 cites W2164437309 @default.
- W2166367195 cites W2167212344 @default.
- W2166367195 cites W2170185269 @default.
- W2166367195 cites W2327152583 @default.
- W2166367195 cites W3123013680 @default.
- W2166367195 cites W3123368870 @default.
- W2166367195 cites W3123758172 @default.
- W2166367195 cites W3124668114 @default.
- W2166367195 cites W3126017435 @default.
- W2166367195 cites W4232111244 @default.
- W2166367195 cites W4246390368 @default.
- W2166367195 doi "https://doi.org/10.2139/ssrn.426560" @default.
- W2166367195 hasPublicationYear "2003" @default.
- W2166367195 type Work @default.
- W2166367195 sameAs 2166367195 @default.
- W2166367195 citedByCount "95" @default.
- W2166367195 countsByYear W21663671952012 @default.
- W2166367195 countsByYear W21663671952013 @default.
- W2166367195 countsByYear W21663671952014 @default.
- W2166367195 countsByYear W21663671952015 @default.
- W2166367195 countsByYear W21663671952016 @default.
- W2166367195 countsByYear W21663671952017 @default.
- W2166367195 countsByYear W21663671952018 @default.
- W2166367195 countsByYear W21663671952019 @default.
- W2166367195 crossrefType "journal-article" @default.
- W2166367195 hasAuthorship W2166367195A5003753091 @default.
- W2166367195 hasAuthorship W2166367195A5013175917 @default.
- W2166367195 hasAuthorship W2166367195A5062630269 @default.
- W2166367195 hasBestOaLocation W21663671952 @default.
- W2166367195 hasConcept C106159729 @default.
- W2166367195 hasConcept C121955636 @default.
- W2166367195 hasConcept C144133560 @default.
- W2166367195 hasConcept C149782125 @default.
- W2166367195 hasConcept C162118730 @default.
- W2166367195 hasConcept C162324750 @default.
- W2166367195 hasConcept C162704800 @default.
- W2166367195 hasConcept C166957645 @default.
- W2166367195 hasConcept C175444787 @default.
- W2166367195 hasConcept C181622380 @default.
- W2166367195 hasConcept C182299520 @default.
- W2166367195 hasConcept C205649164 @default.
- W2166367195 hasConcept C74734477 @default.
- W2166367195 hasConcept C83646750 @default.
- W2166367195 hasConceptScore W2166367195C106159729 @default.
- W2166367195 hasConceptScore W2166367195C121955636 @default.
- W2166367195 hasConceptScore W2166367195C144133560 @default.
- W2166367195 hasConceptScore W2166367195C149782125 @default.
- W2166367195 hasConceptScore W2166367195C162118730 @default.
- W2166367195 hasConceptScore W2166367195C162324750 @default.
- W2166367195 hasConceptScore W2166367195C162704800 @default.
- W2166367195 hasConceptScore W2166367195C166957645 @default.
- W2166367195 hasConceptScore W2166367195C175444787 @default.
- W2166367195 hasConceptScore W2166367195C181622380 @default.
- W2166367195 hasConceptScore W2166367195C182299520 @default.
- W2166367195 hasConceptScore W2166367195C205649164 @default.
- W2166367195 hasConceptScore W2166367195C74734477 @default.
- W2166367195 hasConceptScore W2166367195C83646750 @default.
- W2166367195 hasLocation W21663671951 @default.
- W2166367195 hasLocation W21663671952 @default.
- W2166367195 hasOpenAccess W2166367195 @default.
- W2166367195 hasPrimaryLocation W21663671951 @default.
- W2166367195 hasRelatedWork W2030617584 @default.
- W2166367195 hasRelatedWork W2056210026 @default.
- W2166367195 hasRelatedWork W2066824604 @default.
- W2166367195 hasRelatedWork W2558452690 @default.
- W2166367195 hasRelatedWork W2739510674 @default.