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  pleasehelpmetotranslatethisparagraghsFreemanandTsearguedunexpectedprofits-returnswouldbebetterexplainedbyanS-shapedarctanrelationshipwhichisconvexforbad-newsfrimsandconcaveforgood-newsfirms.Figure9.4providesanillust

  pleasehelpmetotranslatethisparagraghs

  FreemanandTsearguedunexpectedprofits-returnswouldbebetterexplainedbyanS-shapedarctanrelationshipwhichisconvexforbad-newsfrimsandconcaveforgood-newsfirms.Figure9.4providesanillustrationofsomehypothesisednon-linearrelationships.Measuringunexpectedearnings(profits)asdeviationsfrommedianquarterlyanalystforecasts,FreemanandTsefoundthattheapplicationofthenon-lineararctanmodelresultedinincreasedERCsandgreaterpredictivepowerinthefprmofhigheradjustedsimplelinearmodelsmayhavemisspecifiedtheprofits-returnsrelationship.

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2020-11-0406:37
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  increasedERCsandgreaterpredictivepowerinthefprmofhigheradjustedsimplelinearmodelsmayhavemisspecifiedtheprofits-returnsrelationship.

2020-11-04 06:39:02
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