Graduate School of Business, University of Chicago and National Bureau of Economic Research (NBER), and Harvard Business School and NBER, respectively. Lori Kaufman, Betsy McNair, and Kelly Welch provided able research assistance. Yacine Ait-Sahalia, Willard Carleton, Eugene Fama, Wayne Ferson, Anthony Lynch, Thomas Lys, Wayne Mikkelson, Mark Mitchell, Kevin M. Murphy, Daniel Nelson, Mitch Petersen, Nick Poison, Art Raviv, Jay Ritter, Joe Rizzi, René Stulz (the editor), Theo Vermaelen, Robert Vishny, an anonymous referee, and seminar participants at Arizona, Harvard, Illinois, the NBER Summer Institute, North Carolina, Northwestern, Oregon, Vanderbilt, Washington, and the University of Chicago provided helpful comments. This research was supported by the William Ladany Faculty Research Fund, the Center For Research in Security Prices, the Lynde and Harry Bradley Foundation, the Olin Foundation (Kaplan), and the Division of Research at Harvard Business School (Ruback). Address correspondence to Steven Kaplan at Graduate School of Business, University of Chicago, 1101 East 58th St., Chicago, IL 60637.
The Valuation of Cash Flow Forecasts: An Empirical Analysis
Article first published online: 30 APR 2012
1995 The American Finance Association
The Journal of Finance
Volume 50, Issue 4, pages 1059–1093, September 1995
How to Cite
KAPLAN, S. N. and RUBACK, R. S. (1995), The Valuation of Cash Flow Forecasts: An Empirical Analysis. The Journal of Finance, 50: 1059–1093. doi: 10.1111/j.1540-6261.1995.tb04050.x
- Issue published online: 30 APR 2012
- Article first published online: 30 APR 2012
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