Forecast horizon:

1985-90

Model A (IBES)

13.03

Model B (CAPM; BT)

17.4012

Model C (CAPM; BM)

17.3989

Model 1 (BT; WC)

12.9205

Model 2 (BM; WC)

12.9012

Model 3 (BT; NC)

12.9248

Model 4 (BM; NC)

12.9245