Discussion of "Are special items informative about future profit margins?"

Richard Frankel ()
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Richard Frankel: Washington University in St. Louis

Review of Accounting Studies, 2009, vol. 14, issue 2, No 3, 237-245

Abstract: Abstract Fairfield et al. (Rev. Account. Stud., 2009. doi: 10.1007/s11142-009-9084-9 ) explore the predictive power of current special items for future profit margins over various forecast horizons. They also provide evidence on how this predictive power varies with current core profit margins. I discuss the motivation for this research and conclude that I am unable to attach a coherent economic story to these results.

Keywords: Earnings persistence; Special items; Forecast horizon (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1007/s11142-009-9091-x

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