Does the Stock Market Fully Appreciate the Implications of Leading Indicators for Future Earnings? Evidence from Order Backlog

By Shivaram Rajgopal, Terry Shevlin, Mohan Venkatachalam. 2001

202 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/e259f0e434f63956ed0159ad76c5bf239718386a

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Citations in the corpus

Are analysts’ earnings forecasts more accurate when accompanied by cash flow forecasts? (2009, methodology): “3 by analyst, we examine and report the mean coefficients of the analyst specific equations and the associated Fama-MacBeth t-statistics and expect to find a significantly positive coefficient on CFF.”
The Effect of Research and Development (R&D) Inputs and Outputs on the Relation between the Uncertainty of Future Operating Performance and R&D Expenditures (2011, methodology): “Studies using nonfinancial accounting variables to better understand the informational role of accounting numbers include Amir and Lev (1996) on the effects of population size on the valuation of cell phone operators and Rajgopal, Shevlin, and Venkatachalam (2003) who study order backlogs.”
Changes in Operational Efficiency and Firm Performance: A Frontier Analysis Approach (2013, unknown): “X (X X) investors and analysts respond differently to accounting information, perhaps due to market frictions such as short-sale constraints or transaction costs (see, e.g., Rajgopal et al. 2003).”
Separating Winners from Losers among LowBook-to-Market Stocks using Financial Statement Analysis (2005, background): “For instance, Trueman et al. (2000) illustrate the importance of web traffic in the valuation of internet firms, while Rajgopal et al. (2003) show that leading indicators of future performance such as order backlog impact valuation.”
Innovation, Future Earnings, and Market Efficiency (2005, methodology): “For example, Rajgopal, Shevlin, and Venkatachalam (2003) find that investors place a higher weight on order backlog relative to the weight reflected in the association between order backlog and future earnings.”
What are the consequences of real earnings management (2005, background): “…outliers and so that the coefficients can be interpreted as returns to a zero investment hedge portfolio, the control variable are ranked by deciles (0,9) each year and the decile number is divided by nine so each observation takes the value ranging between zero and one (Rajgopal et al., 2003).”
Is the Risk of Product Market Predation a Cost of Disclosure (2016, background): “The decision to use a manufacturing firm indicator variable to proxy for the propensity to use “ex ante” sales contracts is based on Rajgopal et al. (2003) and Costello (2013), who show that order backlog and longterm supply contracts are particularly common among manufacturing firms.”