We document that aggregate accounting earnings growth is an incrementally significant
leading indicator of growth in nominal Gross Domestic Product (GDP). Professional macro …

In this study, we hypothesize and find that financial statement analysis of firm profitability
drivers applied at the aggregate level yields timely insights that are relevant for forecasting …

This paper examines whether the negative association between aggregate earnings and
returns is explained by the monetary policy news in aggregate earnings. Using Federal …

The accounting literature has traditionally focused on firm-level studies to examine the
capital market implications of earnings and other accounting variables. We first develop the …

To provide evidence on the role macroeconomic uncertainty plays in managers' decision to
issue management earnings forecasts (MFs), this study develops and tests hypotheses …

Although macroeconomic news has a major impact on corporate earnings, anecdotal
evidence suggests that financial analyst research is inefficient with respect to such news …

We propose two explanations for the previously documented relation between aggregate
earnings growth and future inflation: one based on firms changing their investment in …

In recent years, studies have been conducted to quantify the relationship between
microeconomic and macroeconomic development. Macroeconomics is the orientation of …

This study investigates the predictive power of aggregate corporate earnings and their four
components for future GDP growths. It splits aggregate earnings into operating and non …

We examine the macroeconomic information content of aggregate earnings from the labor
market's perspective. We use insights from the labor economics literature to characterize the …