Lueg, Rainer; Toft, Jon Svennesen - In: Journal of risk and financial management : JRFM 15 (2022) 8, pp. 1-21
This paper investigates the relative and incremental information content of KPMG's recently developed metric for shareholder value creation: earnings less risk-free interest charge (ERIC). We assess if ERIC has a better ability to predict stock returns than earnings, cash flow from operations...
