Stephen Penman is a George O. May Professor of Financial Accounting at Columbia Business School. He is the author and co-author of acclaimed financial valuation textbooks, such as Financial Statement Analysis and Security Valuation as well as books aimed at a more general audience, such as Accounting for Value.  The Penman-Nissim Profitability Framework In 1999, Doron … Continue reading The Penman-Nissim model of profitability analysis →