Purpose – This paper seeks to investigate whether disaggregated bank earnings better predict next period earnings than contemporaneous aggregated earnings. Design/methodology/approach – Fairfield et al.'s (1996) regression approach is used for predicting next period's return of equity (ROE)...

We examine whether multisegment firms tend to subsidize operations doing business in industries that experience a major downturn in investment opportunities. The results provide little evidence of subsidization. The likelihood of discontinuation of multisegment operations in these industries...

This paper extends prior research in the areas of fundamental analysis and the information content of losses in an effort to explain unexpected market behaviour in certain circumstances. Specifically, we develop expectations related to the relevance of fundamental financial signals to explain...

This paper extends prior research in the areas of fundamental analysis and the information content of losses in an effort to explain unexpected market behaviour in certain circumstances. Specifically, we develop expectations related to the relevance of fundamental financial signals to explain...