Discussion of “How well do investors understand loss persistence?”

Robert J. Resutek ()
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Robert J. Resutek: Dartmouth College–Tuck School of Business

Review of Accounting Studies, 2011, vol. 16, issue 3, No 13, 668-678

Abstract: Abstract 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 naïve 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.

Keywords: Earnings forecasts; Return anomalies; Loss persistence (search for similar items in EconPapers)
JEL-codes: G24 G29 M41 (search for similar items in EconPapers)
Date: 2011
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DOI: 10.1007/s11142-011-9154-7

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