...Messod D. Beneish; David B. Farber; Matthew Glendening; Kenneth W. Shaw ABSTRACT This study examines the incremental predictive power of aggregate measures of financial misreporting for recession and real gross domestic product (GDP) growth. We draw on prior research suggesting that misreporting...

...Yao Lu; Valeri V. Nikolaev ABSTRACT The new accounting standard requires that financial institutions estimate expected credit losses on their loan portfolios. The predictability of long-term losses, however, remains an open question. We develop a model that predicts long-term loan losses...