Valuing Loss Firms
We hypothesize that when confronted with a loss, investors price earnings conditional on the expected probability of the firm's return to profitability. We show a parsimonious model of one year-ahead loss reversal is useful in predicting the firm's ret...
Main Authors: | Joos, Peter, Plesko, George |
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Format: | Working Paper |
Language: | en_US |
Published: |
2004
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Subjects: | |
Online Access: | http://hdl.handle.net/1721.1/5418 |
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