TY - JOUR TI - Analysts versus time-series forecasts of quarterly earnings: A maintained hypothesis revisited AU - Pagach, Donald P. AU - Warr, Richard S. T2 - ADVANCES IN ACCOUNTING AB - We re-examine the maintained hypothesis of analysts' quarterly earnings per share (EPS) superiority versus ARIMA time-series forecasts. While our empirical results are consistent with overall analysts' dominance, they suggest a more contextual interpretation of this important relationship. Specifically, we find that for a relatively large number of cases (approximately 40%) ARIMA time-series forecasts of quarterly EPS are equal to or more accurate than consensus analysts' forecasts. Moreover, the percentage of time-series superiority increases: (1) for longer forecast horizons, (2) as firm size decreases, and (3) for high-technology firms. Due to the data demands that ARIMA forecasting requires we also examine using a seasonal random walk (SRW) model that requires only one year of data to create quarterly forecasts. Although the ARIMA time-series model results in a significant reduction in sample size it dominates the SRW model. Our findings support the analyst dominance over time series models but suggest that ARIMA time-series models may provide useful input to researchers seeking quarterly EPS expectation models for certain types of firms. DA - 2020/12// PY - 2020/12// DO - 10.1016/j.adiac.2020.100497 VL - 51 SP - SN - 1046-5715 KW - Analysts' quarterly EPS forecasts KW - ARIMA models KW - Maintained hypothesis KW - Expectation models ER - TY - JOUR TI - Patterns of Digitization A Practical Guide to Digital Transformation AU - Mugge, Paul AU - Abbu, Haroon AU - Michaelis, Timothy L. AU - Kwiatkowski, Alexander AU - Gudergan, Gerhard T2 - RESEARCH-TECHNOLOGY MANAGEMENT AB - Overview: Digital transformation is reshaping entire segments and industries: communications, retail, and, increasingly, health care, medicine, agriculture, and manufacturing. While a few companies reach front-runner status, most seem to lag. Digital transformation is a top concern of senior leaders worldwide and motivated the development of this study. This article describes the results of the Patterns of Digitization survey designed to assess how companies are implementing digital transformation. The survey covers the various strategies companies employ, the technologies they invest in, and, in particular, the actions they take to overcome the organizational resistance that is common in most large-scale transformations. We highlight important actions all companies are taking to digitally transform their businesses and the differentiated actions of digitally mature organizations. The insights gleaned from the study should help lagging companies understand what is involved in implementing a digital transformation and what they need to do to catch up. DA - 2020/3/3/ PY - 2020/3/3/ DO - 10.1080/08956308.2020.1707003 VL - 63 IS - 2 SP - 27-35 SN - 1930-0166 KW - Digital transformation KW - Innovation management KW - Business model KW - Corporate culture KW - Change management ER -