Forecast horizon:

1984-89

1985-90

Model A (IBES)

10.9918

13.03

Model B (CAPM; B_T)

14.2684

17.4012

Model C (CAPM; B_M)

14.2644

17.3989

Model 1 (B_T; WC)

11.001

12.9212

Model 2 (B_M; WC)

11.0009

12.921

Model 3 (B_T; NC)

10.7541

12.871

Model 4 (B_M; NC)

10.754

12.8709