This study shows that the recent trajectory of a firm’s profits predicts future profitability and stock returns. The predictive information contained in the trend of profitability is not subsumed by the level of profitability, earnings momentum, or other well-known determinants of stock returns. The profit trend also predicts the earnings surprise one quarter later, and analyst forecast errors ...

This paper investigates the use of ATM surcharges as a strategic device to increase bank profitability. We show that ATM surcharge changes can have both a direct effect on bank profitability and an indirect effect via customer switching and a related customer relationship effect. That is, customer switching results in an increase in the demand for other services provided by the surcharge increa...

Pinhooking is a speculative investment where investors assume a risk position in the purchase and resale of Thoroughbred horses. Thoroughbred auction markets provide a unique data set to analyze investment risk. This study estimates the profitability of weanling to yearling pinhooks sold at the Keeneland September Sale using three years of sale data. Maximum-likelihood estimates of probability ...

Using a sample of Chinese state-owned enterprises spanning 1980 to 1994, we investigate the factors that determine the sources of finance for firm-level fixed investment, including retained earnings, bank finance, and government transfers. Direct government transfers were not significantly associated with profitability throughout the period. In contrast, bank finance was positively linked to bo...

This paper analyzes the effect of productivity on profitability at the firm level through the construction of an anticipatory framework/model, based on Gold’s model. It is a Total Productivity Measurement (TPM) model, which directly measures and relates productivity with long-term profitability (defined as the Shareholder Value AddedSVA) and uses dynamic productivity ratios and their effects on...

This study was conducted in Abia state, Nigeria with specific objectives to: describe socio economic characteristics of ADP and non-ADP contact farmers; estimate profitability level of the two farmer groups; compare profitability of cassava production among the two farmer groups; determine factors that influence profitability of ADP and non-ADP contact cassava farmers and identify problems cons...

this paper investigates the effects of advertising, profitability, concentration and research & development on the market share of iranian great food and beverage industries during the period of 2000-2011. for this purpose, we used the more than 50 employee's statistics of industrial 4- digit firms and panel data technique for estimating the model. the main results of this paper reveal that, th...

Even though the concept of residual feed intake (RFI) is well accepted, several questions remain regarding other traits that may be associated with selection for decreased RFI. These include DM digestibility, carcass composition, profitability, and performance. The objective of this study was to investigate the difference in those traits between low- and high-RFI cattle. Sixty Angus x Hereford ...

Cattle comfort is one of the main factors which influence profitability of dairy farms due to its association with involuntary culling, cow longevity, and productive life. Productive life has been defined as the number of lactations a cow completes before she is culled. A productive cow that remains longer in a farm allows for fixed and variable costs to be diluted. Furthermore, fewer replaceme...

Previous work by Tesser (1993) and Bourgeois (2002) found that heritable attitudes are more resistant to social influence and attitude change. The present study sought to replicate and extend previous work by utilizing attitudes and heritability estimates not previously used in studies examining the effect of heritable attitudes on social influence processes. It was hypothesized that attitudesw...