Tugas
softskill bahasa Inggris
Nama :
Bowo Mujur Sipahutar
NPM :
21211529
Kelas :
3eb04
Our study contributes to the accounting and economics
literature by shedding light on the informativeness of accounting earnings for
GDP growth. We show that aggregate accounting earnings growth is a leading
indicator of future GDP growth, especially for the one-quarter-ahead forecast
horizon. However, professional macro forecasters do not fully incorporate
aggregate accounting earnings growth when forecasting GDP growth. As a result,
future GDP growth forecast errors are predictable based on accounting earnings
data that are available to professional macro forecasters in real time. A
direction for additional research is to aggregate accounting data in a cost-effective
way and identify which accounting data are more useful for macro forecasting. A
related direction for additional research is to probe the link between
aggregate accounting data, subsequent GDP growth, revisions of GDP growth
forecasts, and stock valuation. In follow-up studies, we investigate these
directions.
