TY  - BOOK
AU  - Wang,Pengguo
TI  - The role of disaggregation of earnings in stock valuation and earnings forecasting
SN  - 00014788
AV  - HD30.4 ACC 
PY  - 2013///
CY  - Abingdon
PB  - Routledge
KW  - Profit
KW  - Financial analysis
KW  - Forecast
KW  - Forecasting model
KW  - Earnings announcement
KW  - Estimation
N2  - This paper compares and contrasts two accounting information systems, the aggregate earnings system and the disaggregated cash flow/accrual system, examining their relative performance in stock valuation and in forecasting of earnings. It finds, in general, that the forecasts of earnings and predicted market values from the cash flow and accrual system have smaller forecasting errors than those from the aggregate earnings system. The adjusted R-squareds from the disaggregated system are in the main higher than those from the aggregated system when considering the explanatory power of the model-predicted values. The results also show that the cash flow and accrual system forecasts dominate the aggregate earnings system forecasts in a large majority of industries
UR  - https://doi.org/10.1080/00014788.2013.804794
ER  -