This study investigates the use of revised analyst forecast information that is released following management disclosures. I extend the prior literature by examining the relationship between the contents of analyst forecast revisions and the content of management disclosures. I provide evidence...

We provide a rationale for window dressing where investors respond to conflicting signals of managerial ability inferred from a fund's performance and disclosed portfolio holdings. We contend that window dressers take a risky bet on their performance during a reporting delay period, which...