Smart Growth - Whitney Johnson (original) (raw)
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If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.com Emerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services. Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation.
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While numerous empirical studies include proxies for growth opportunities in their analyses, there is limited evidence as to the validity of the various growth proxies used. Based on a sample of 1,942 firm years for listed UK companies over the period 1990 to 2004, we assess the performance of eight growth opportunities measures. Our results show that none of the measures has any success in predicting EPS growth. We term this the ‘growth companies puzzle’. The second part of the paper looks at the ability of growth opportunity measures to predict growth in sales, assets and book equity. All the growth measures show some ability to predict growth in these dimensions. However, Tobin’s Q (a widely used measure in the empirical literature) performs very poorly, while dividend based measures generally perform best. Growth companies do grow, but they do not grow in the key dimension (earnings) theory predicts. We suggest that a possible resolution of the puzzle may lie in the time-series ...
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In the dynamic landscape of accounting, where change is the only constant, Accelerating Growth: Shaping Tomorrow Book 3 emerges as a beacon of insight and innovation. This book encapsulates the essence of transformation and progress that defines the ever-evolving realm of business. As we stand on the cusp of a new era, the narrative within these pages mirrors the spirit of change and development that propels the business profession forward. In a world marked by technological advancements, regulatory shifts, and global interconnectedness, the role of business is more pivotal than ever. "Accelerating Growth" serves as a compass, guiding practitioners, scholars, and enthusiasts alike through the intricate landscape of modern business. Its pages unravel the complexities, celebrate achievements, and illuminate the path towards a future shaped by innovation and excellence. Authored by experts who are at the forefront of the field, this book not only captures the current state of business but also forecasts the trends that will mold its tomorrow. Each chapter is a testament to the resilience and adaptability inherent in the accounting profession, demonstrating how it continues to thrive amidst challenges and seize opportunities. As we delve into the pages of Accelerating Growth: Shaping Tomorrow Book 3, let us embark on a journey of discovery and enlightenment. May this book inspire, educate, and catalyze a renewed enthusiasm for the ever-evolving world of business.