Forecasting cash flow model
Goyal, Mahendra K., and Beg, A.B.M. Rabiul Alam (2002) Forecasting cash flow model. International Journal of Finance, 14 (3). pp. 2363-2373.
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This paper reviews a theoretical model of earnings, dividends and returns developed by Hobbes, Partington, and Stevenson,1996 (hetesfter, HPS model). The paper extends the HPS model by introducing the cash flow variable. We extend the model by arguing that returns are function of earnings changes, earnings levels, dividend changes including a shock component of current dividends and cash flow changes. Again the variables used in this models are observable and could be helpful to most empirical studies.
|Item Type:||Article (Refereed Research - C1)|
|Keywords:||cash flow, shock component, dividend, prediction|
|Date Deposited:||24 Oct 2006|
|FoR Codes:||15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1502 Banking, Finance and Investment > 150201 Finance @ 100%|
|SEO Codes:||90 COMMERCIAL SERVICES AND TOURISM > 9001 Financial Services > 900199 Financial Services not elsewhere classified @ 100%|