... year but will be fulfilled in later periods (i.e., next fiscal year). In general, the sales order backlog suggests strong customer demand for a firm’s products or services and a positive financial outlook. Prior research argues that order backlog is an important leading indicator because it contains...

...Ke Zhong; Fang Wang; Lihui Zhou Purpose The purpose of this paper is to investigate whether deferred revenue changes can serve as a leading indicator for firms listed on China’s stock markets, and whether China’s market participants can appropriately incorporate future performance implications...