Huang, Alan; Tian, Yao; Wirjanto, Tony S. - Department of Economics, University of Waterloo - 2008
-specific characteristics (known as firm heterogeneity or firm-specific fixed effects) are homogenous and, thus, unimportant to earnings …-sectional differences (firm heterogeneity) in earnings. We find that, after accounting for firm-specific fixed effects in the earnings …
