The benefits of transaction-level data: The case of NielsenIQ scanner data
This study explores whether NielsenIQ scanner data from U.S. retailers contain incremental information about the GAAP revenue of corresponding manufacturers. Using retail product/store/week data from 2006 to 2018, we construct a measure of aggregated consumer purchases at the manufacturer/quarter le...
Ausführliche Beschreibung
Gespeichert in:
| Autor*in: |
Dichev, Ilia D. [verfasserIn] |
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| Format: |
E-Artikel |
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| Sprache: |
Englisch |
| Erschienen: |
2022transfer abstract |
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| Schlagwörter: |
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| Übergeordnetes Werk: |
Enthalten in: Impact of a Hygiene Intervention on Virus Transmission in a Long-term Care Facility - Sifuentes, Laura Y. ELSEVIER, 2014, Amsterdam [u.a.] |
|---|---|
| Übergeordnetes Werk: |
volume:74 ; year:2022 ; number:1 ; pages:0 |
| Links: |
|---|
| DOI / URN: |
10.1016/j.jacceco.2022.101495 |
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| 245 | 1 | 4 | |a The benefits of transaction-level data: The case of NielsenIQ scanner data |
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| 520 | |a This study explores whether NielsenIQ scanner data from U.S. retailers contain incremental information about the GAAP revenue of corresponding manufacturers. Using retail product/store/week data from 2006 to 2018, we construct a measure of aggregated consumer purchases at the manufacturer/quarter level, and find that it strongly predicts GAAP revenues. In addition, analyst forecasts of revenues have predictable errors, which implies that analysts do not fully incorporate the information in consumer purchases. Exploring investment implications, we find that hedge portfolios that buy (sell) stocks of firms with high (low) abnormal consumer purchases generate annualized returns on the magnitude of 14%–19%, depending on specification. Overall, these findings suggest that scanner data on consumer purchases provide an information edge over GAAP revenue, shedding light on the benefits of using transactional data. | ||
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10.1016/j.jacceco.2022.101495 doi /cbs_pica/cbs_olc/import_discovery/elsevier/einzuspielen/GBV00000000001906.pica (DE-627)ELV058979980 (ELSEVIER)S0165-4101(22)00018-0 DE-627 ger DE-627 rakwb eng 610 VZ 540 VZ 35.18 bkl Dichev, Ilia D. verfasserin aut The benefits of transaction-level data: The case of NielsenIQ scanner data 2022transfer abstract nicht spezifiziert zzz rdacontent nicht spezifiziert z rdamedia nicht spezifiziert zu rdacarrier This study explores whether NielsenIQ scanner data from U.S. retailers contain incremental information about the GAAP revenue of corresponding manufacturers. Using retail product/store/week data from 2006 to 2018, we construct a measure of aggregated consumer purchases at the manufacturer/quarter level, and find that it strongly predicts GAAP revenues. In addition, analyst forecasts of revenues have predictable errors, which implies that analysts do not fully incorporate the information in consumer purchases. Exploring investment implications, we find that hedge portfolios that buy (sell) stocks of firms with high (low) abnormal consumer purchases generate annualized returns on the magnitude of 14%–19%, depending on specification. Overall, these findings suggest that scanner data on consumer purchases provide an information edge over GAAP revenue, shedding light on the benefits of using transactional data. This study explores whether NielsenIQ scanner data from U.S. retailers contain incremental information about the GAAP revenue of corresponding manufacturers. Using retail product/store/week data from 2006 to 2018, we construct a measure of aggregated consumer purchases at the manufacturer/quarter level, and find that it strongly predicts GAAP revenues. In addition, analyst forecasts of revenues have predictable errors, which implies that analysts do not fully incorporate the information in consumer purchases. Exploring investment implications, we find that hedge portfolios that buy (sell) stocks of firms with high (low) abnormal consumer purchases generate annualized returns on the magnitude of 14%–19%, depending on specification. Overall, these findings suggest that scanner data on consumer purchases provide an information edge over GAAP revenue, shedding light on the benefits of using transactional data. Transactional data Elsevier Consumer purchase Elsevier Market efficiency Elsevier Equity valuation Elsevier Qian, Jingyi oth Enthalten in Elsevier Sifuentes, Laura Y. ELSEVIER Impact of a Hygiene Intervention on Virus Transmission in a Long-term Care Facility 2014 Amsterdam [u.a.] (DE-627)ELV022562850 volume:74 year:2022 number:1 pages:0 https://doi.org/10.1016/j.jacceco.2022.101495 Volltext GBV_USEFLAG_U GBV_ELV SYSFLAG_U GBV_ILN_20 GBV_ILN_21 GBV_ILN_72 GBV_ILN_130 GBV_ILN_2002 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2012 GBV_ILN_2016 35.18 Kolloidchemie Grenzflächenchemie VZ AR 74 2022 1 0 |
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10.1016/j.jacceco.2022.101495 doi /cbs_pica/cbs_olc/import_discovery/elsevier/einzuspielen/GBV00000000001906.pica (DE-627)ELV058979980 (ELSEVIER)S0165-4101(22)00018-0 DE-627 ger DE-627 rakwb eng 610 VZ 540 VZ 35.18 bkl Dichev, Ilia D. verfasserin aut The benefits of transaction-level data: The case of NielsenIQ scanner data 2022transfer abstract nicht spezifiziert zzz rdacontent nicht spezifiziert z rdamedia nicht spezifiziert zu rdacarrier This study explores whether NielsenIQ scanner data from U.S. retailers contain incremental information about the GAAP revenue of corresponding manufacturers. Using retail product/store/week data from 2006 to 2018, we construct a measure of aggregated consumer purchases at the manufacturer/quarter level, and find that it strongly predicts GAAP revenues. In addition, analyst forecasts of revenues have predictable errors, which implies that analysts do not fully incorporate the information in consumer purchases. Exploring investment implications, we find that hedge portfolios that buy (sell) stocks of firms with high (low) abnormal consumer purchases generate annualized returns on the magnitude of 14%–19%, depending on specification. Overall, these findings suggest that scanner data on consumer purchases provide an information edge over GAAP revenue, shedding light on the benefits of using transactional data. This study explores whether NielsenIQ scanner data from U.S. retailers contain incremental information about the GAAP revenue of corresponding manufacturers. Using retail product/store/week data from 2006 to 2018, we construct a measure of aggregated consumer purchases at the manufacturer/quarter level, and find that it strongly predicts GAAP revenues. In addition, analyst forecasts of revenues have predictable errors, which implies that analysts do not fully incorporate the information in consumer purchases. Exploring investment implications, we find that hedge portfolios that buy (sell) stocks of firms with high (low) abnormal consumer purchases generate annualized returns on the magnitude of 14%–19%, depending on specification. Overall, these findings suggest that scanner data on consumer purchases provide an information edge over GAAP revenue, shedding light on the benefits of using transactional data. Transactional data Elsevier Consumer purchase Elsevier Market efficiency Elsevier Equity valuation Elsevier Qian, Jingyi oth Enthalten in Elsevier Sifuentes, Laura Y. ELSEVIER Impact of a Hygiene Intervention on Virus Transmission in a Long-term Care Facility 2014 Amsterdam [u.a.] (DE-627)ELV022562850 volume:74 year:2022 number:1 pages:0 https://doi.org/10.1016/j.jacceco.2022.101495 Volltext GBV_USEFLAG_U GBV_ELV SYSFLAG_U GBV_ILN_20 GBV_ILN_21 GBV_ILN_72 GBV_ILN_130 GBV_ILN_2002 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2012 GBV_ILN_2016 35.18 Kolloidchemie Grenzflächenchemie VZ AR 74 2022 1 0 |
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10.1016/j.jacceco.2022.101495 doi /cbs_pica/cbs_olc/import_discovery/elsevier/einzuspielen/GBV00000000001906.pica (DE-627)ELV058979980 (ELSEVIER)S0165-4101(22)00018-0 DE-627 ger DE-627 rakwb eng 610 VZ 540 VZ 35.18 bkl Dichev, Ilia D. verfasserin aut The benefits of transaction-level data: The case of NielsenIQ scanner data 2022transfer abstract nicht spezifiziert zzz rdacontent nicht spezifiziert z rdamedia nicht spezifiziert zu rdacarrier This study explores whether NielsenIQ scanner data from U.S. retailers contain incremental information about the GAAP revenue of corresponding manufacturers. Using retail product/store/week data from 2006 to 2018, we construct a measure of aggregated consumer purchases at the manufacturer/quarter level, and find that it strongly predicts GAAP revenues. In addition, analyst forecasts of revenues have predictable errors, which implies that analysts do not fully incorporate the information in consumer purchases. Exploring investment implications, we find that hedge portfolios that buy (sell) stocks of firms with high (low) abnormal consumer purchases generate annualized returns on the magnitude of 14%–19%, depending on specification. Overall, these findings suggest that scanner data on consumer purchases provide an information edge over GAAP revenue, shedding light on the benefits of using transactional data. This study explores whether NielsenIQ scanner data from U.S. retailers contain incremental information about the GAAP revenue of corresponding manufacturers. Using retail product/store/week data from 2006 to 2018, we construct a measure of aggregated consumer purchases at the manufacturer/quarter level, and find that it strongly predicts GAAP revenues. In addition, analyst forecasts of revenues have predictable errors, which implies that analysts do not fully incorporate the information in consumer purchases. Exploring investment implications, we find that hedge portfolios that buy (sell) stocks of firms with high (low) abnormal consumer purchases generate annualized returns on the magnitude of 14%–19%, depending on specification. Overall, these findings suggest that scanner data on consumer purchases provide an information edge over GAAP revenue, shedding light on the benefits of using transactional data. Transactional data Elsevier Consumer purchase Elsevier Market efficiency Elsevier Equity valuation Elsevier Qian, Jingyi oth Enthalten in Elsevier Sifuentes, Laura Y. ELSEVIER Impact of a Hygiene Intervention on Virus Transmission in a Long-term Care Facility 2014 Amsterdam [u.a.] (DE-627)ELV022562850 volume:74 year:2022 number:1 pages:0 https://doi.org/10.1016/j.jacceco.2022.101495 Volltext GBV_USEFLAG_U GBV_ELV SYSFLAG_U GBV_ILN_20 GBV_ILN_21 GBV_ILN_72 GBV_ILN_130 GBV_ILN_2002 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2012 GBV_ILN_2016 35.18 Kolloidchemie Grenzflächenchemie VZ AR 74 2022 1 0 |
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10.1016/j.jacceco.2022.101495 doi /cbs_pica/cbs_olc/import_discovery/elsevier/einzuspielen/GBV00000000001906.pica (DE-627)ELV058979980 (ELSEVIER)S0165-4101(22)00018-0 DE-627 ger DE-627 rakwb eng 610 VZ 540 VZ 35.18 bkl Dichev, Ilia D. verfasserin aut The benefits of transaction-level data: The case of NielsenIQ scanner data 2022transfer abstract nicht spezifiziert zzz rdacontent nicht spezifiziert z rdamedia nicht spezifiziert zu rdacarrier This study explores whether NielsenIQ scanner data from U.S. retailers contain incremental information about the GAAP revenue of corresponding manufacturers. Using retail product/store/week data from 2006 to 2018, we construct a measure of aggregated consumer purchases at the manufacturer/quarter level, and find that it strongly predicts GAAP revenues. In addition, analyst forecasts of revenues have predictable errors, which implies that analysts do not fully incorporate the information in consumer purchases. Exploring investment implications, we find that hedge portfolios that buy (sell) stocks of firms with high (low) abnormal consumer purchases generate annualized returns on the magnitude of 14%–19%, depending on specification. Overall, these findings suggest that scanner data on consumer purchases provide an information edge over GAAP revenue, shedding light on the benefits of using transactional data. This study explores whether NielsenIQ scanner data from U.S. retailers contain incremental information about the GAAP revenue of corresponding manufacturers. Using retail product/store/week data from 2006 to 2018, we construct a measure of aggregated consumer purchases at the manufacturer/quarter level, and find that it strongly predicts GAAP revenues. In addition, analyst forecasts of revenues have predictable errors, which implies that analysts do not fully incorporate the information in consumer purchases. Exploring investment implications, we find that hedge portfolios that buy (sell) stocks of firms with high (low) abnormal consumer purchases generate annualized returns on the magnitude of 14%–19%, depending on specification. Overall, these findings suggest that scanner data on consumer purchases provide an information edge over GAAP revenue, shedding light on the benefits of using transactional data. Transactional data Elsevier Consumer purchase Elsevier Market efficiency Elsevier Equity valuation Elsevier Qian, Jingyi oth Enthalten in Elsevier Sifuentes, Laura Y. ELSEVIER Impact of a Hygiene Intervention on Virus Transmission in a Long-term Care Facility 2014 Amsterdam [u.a.] (DE-627)ELV022562850 volume:74 year:2022 number:1 pages:0 https://doi.org/10.1016/j.jacceco.2022.101495 Volltext GBV_USEFLAG_U GBV_ELV SYSFLAG_U GBV_ILN_20 GBV_ILN_21 GBV_ILN_72 GBV_ILN_130 GBV_ILN_2002 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2012 GBV_ILN_2016 35.18 Kolloidchemie Grenzflächenchemie VZ AR 74 2022 1 0 |
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10.1016/j.jacceco.2022.101495 doi /cbs_pica/cbs_olc/import_discovery/elsevier/einzuspielen/GBV00000000001906.pica (DE-627)ELV058979980 (ELSEVIER)S0165-4101(22)00018-0 DE-627 ger DE-627 rakwb eng 610 VZ 540 VZ 35.18 bkl Dichev, Ilia D. verfasserin aut The benefits of transaction-level data: The case of NielsenIQ scanner data 2022transfer abstract nicht spezifiziert zzz rdacontent nicht spezifiziert z rdamedia nicht spezifiziert zu rdacarrier This study explores whether NielsenIQ scanner data from U.S. retailers contain incremental information about the GAAP revenue of corresponding manufacturers. Using retail product/store/week data from 2006 to 2018, we construct a measure of aggregated consumer purchases at the manufacturer/quarter level, and find that it strongly predicts GAAP revenues. In addition, analyst forecasts of revenues have predictable errors, which implies that analysts do not fully incorporate the information in consumer purchases. Exploring investment implications, we find that hedge portfolios that buy (sell) stocks of firms with high (low) abnormal consumer purchases generate annualized returns on the magnitude of 14%–19%, depending on specification. Overall, these findings suggest that scanner data on consumer purchases provide an information edge over GAAP revenue, shedding light on the benefits of using transactional data. This study explores whether NielsenIQ scanner data from U.S. retailers contain incremental information about the GAAP revenue of corresponding manufacturers. Using retail product/store/week data from 2006 to 2018, we construct a measure of aggregated consumer purchases at the manufacturer/quarter level, and find that it strongly predicts GAAP revenues. In addition, analyst forecasts of revenues have predictable errors, which implies that analysts do not fully incorporate the information in consumer purchases. Exploring investment implications, we find that hedge portfolios that buy (sell) stocks of firms with high (low) abnormal consumer purchases generate annualized returns on the magnitude of 14%–19%, depending on specification. Overall, these findings suggest that scanner data on consumer purchases provide an information edge over GAAP revenue, shedding light on the benefits of using transactional data. Transactional data Elsevier Consumer purchase Elsevier Market efficiency Elsevier Equity valuation Elsevier Qian, Jingyi oth Enthalten in Elsevier Sifuentes, Laura Y. ELSEVIER Impact of a Hygiene Intervention on Virus Transmission in a Long-term Care Facility 2014 Amsterdam [u.a.] (DE-627)ELV022562850 volume:74 year:2022 number:1 pages:0 https://doi.org/10.1016/j.jacceco.2022.101495 Volltext GBV_USEFLAG_U GBV_ELV SYSFLAG_U GBV_ILN_20 GBV_ILN_21 GBV_ILN_72 GBV_ILN_130 GBV_ILN_2002 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2012 GBV_ILN_2016 35.18 Kolloidchemie Grenzflächenchemie VZ AR 74 2022 1 0 |
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610 VZ 540 VZ 35.18 bkl The benefits of transaction-level data: The case of NielsenIQ scanner data Transactional data Elsevier Consumer purchase Elsevier Market efficiency Elsevier Equity valuation Elsevier |
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Impact of a Hygiene Intervention on Virus Transmission in a Long-term Care Facility |
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Impact of a Hygiene Intervention on Virus Transmission in a Long-term Care Facility |
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Impact of a Hygiene Intervention on Virus Transmission in a Long-term Care Facility |
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benefits of transaction-level data: the case of nielseniq scanner data |
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The benefits of transaction-level data: The case of NielsenIQ scanner data |
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This study explores whether NielsenIQ scanner data from U.S. retailers contain incremental information about the GAAP revenue of corresponding manufacturers. Using retail product/store/week data from 2006 to 2018, we construct a measure of aggregated consumer purchases at the manufacturer/quarter level, and find that it strongly predicts GAAP revenues. In addition, analyst forecasts of revenues have predictable errors, which implies that analysts do not fully incorporate the information in consumer purchases. Exploring investment implications, we find that hedge portfolios that buy (sell) stocks of firms with high (low) abnormal consumer purchases generate annualized returns on the magnitude of 14%–19%, depending on specification. Overall, these findings suggest that scanner data on consumer purchases provide an information edge over GAAP revenue, shedding light on the benefits of using transactional data. |
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This study explores whether NielsenIQ scanner data from U.S. retailers contain incremental information about the GAAP revenue of corresponding manufacturers. Using retail product/store/week data from 2006 to 2018, we construct a measure of aggregated consumer purchases at the manufacturer/quarter level, and find that it strongly predicts GAAP revenues. In addition, analyst forecasts of revenues have predictable errors, which implies that analysts do not fully incorporate the information in consumer purchases. Exploring investment implications, we find that hedge portfolios that buy (sell) stocks of firms with high (low) abnormal consumer purchases generate annualized returns on the magnitude of 14%–19%, depending on specification. Overall, these findings suggest that scanner data on consumer purchases provide an information edge over GAAP revenue, shedding light on the benefits of using transactional data. |
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This study explores whether NielsenIQ scanner data from U.S. retailers contain incremental information about the GAAP revenue of corresponding manufacturers. Using retail product/store/week data from 2006 to 2018, we construct a measure of aggregated consumer purchases at the manufacturer/quarter level, and find that it strongly predicts GAAP revenues. In addition, analyst forecasts of revenues have predictable errors, which implies that analysts do not fully incorporate the information in consumer purchases. Exploring investment implications, we find that hedge portfolios that buy (sell) stocks of firms with high (low) abnormal consumer purchases generate annualized returns on the magnitude of 14%–19%, depending on specification. Overall, these findings suggest that scanner data on consumer purchases provide an information edge over GAAP revenue, shedding light on the benefits of using transactional data. |
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The benefits of transaction-level data: The case of NielsenIQ scanner data |
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