Mindak, Mary P.; Sen, Pradyot K.; Stephan, Jens - In: Review of Accounting and Finance 15 (2016) 2, pp. 198-221
Purpose The purpose of this paper is to document at the firm-specific level whether firms manage earnings up or down to barely miss or meet/beat three common earnings threshold targets, namely, analysts’ forecasts (AFs), last year’s earnings and zero earnings, and whether the market rewards...