English, Article edition: Disaggregated earnings and prediction of future profitability: evidence from industrial groups in Japan Ahsan Habib

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Bookmark: http://trove.nla.gov.au/version/31566
Physical Description
  • article
Language
  • English

Edition details

Title
  • Disaggregated earnings and prediction of future profitability: evidence from industrial groups in Japan
Author
  • Ahsan Habib
Physical Description
  • article
Notes
  • Purpose – This paper seeks to examine the predictive ability of disaggregated earnings in forecasting future profitability conditional on keiretsu affiliation in the context of Japan. Design/​methodology/​approach – Industry-adjusted future profitability measure is regressed on current profitability measures and on interaction terms of keiretsu affiliation and profitability measures. Out-of-sample forecasting test is conducted by regressing future profitability on current profitability measures for keiretsu-affiliated and independent firms. Findings – Disaggregated earnings improve out-of-sampling forecasting for firms not affiliated with keiretsu networks. For the keiretsu-affiliated firms industry adjustments actually diminish the out-of-sample forecasting accuracy. Research limitations/​implications – The boundary between keiretsu-affiliated and independent firms is not so obvious. Originality/​value – Examining industry competitiveness in Japan using accounting information is a significant contribution to the literature.
  • Earnings, Industrial performance, Japan, Profit
  • RePEc:eme:rafpps:v:5:y:2006:i:4:p:355-369
Language
  • English
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