Kim, Sangwan; Park, KoEun; Rosett, Joshua; Shin, Yong-Chul - In: Managerial Finance 43 (2017) 5, pp. 510-527
Purpose The purpose of this paper is to investigate whether sell-side equity analysts use labor cost information when …-stage Heckman (1979) regressions which test whether analysts incorporate labor cost information into their earnings forecasts after … disclose labor costs improves analyst forecast accuracy. Findings This research finds that analysts incorporate labor cost …