On a broader plank, Can future be forecasted? The answer is not affirmative. If there is something known or defined as ‘the future’ then it can be attempted. The word future is a relational term it can be discussed as the future of something. Is it possible to forecast results? The answer is...

We predict earnings for forecast horizons of up to five years by using the entire set of Compustat financial statement data as input and providing it to state-of-the-art machine learning models capable of approximating arbitrary functional forms. Our approach improves prediction one year ahead...

The range of non-EPS forecast types provided by individual analysts to I/B/E/S has increased dramatically over time but varies considerably across firms. We propose that in providing a broader range of forecast types analysts can signal superior research ability and research effort. Consistent...

Under the assumption that audit quality relates positively to unobservable financial reporting reliability, we investigate whether audit quality is associated with the predictability of accounting earnings by focusing on analyst earnings forecast properties. The evidence shows that analysts'...

While brokerage houses use both teams of sell-side analysts and individual analysts to conduct earnings research, there is no empirical research examining if teams and individuals differ with regard to their forecasting performance or purpose, and if so, how and why. We first examine the...

Managers often explain their earnings forecasts by linking forecasted performance to their internal actions and the actions of parties external to the firm. These attributions potentially aid investors in the interpretation of management forecasts by confirming known relationships between...

We examine the predictive information content of the management forecasts of stock return volatility (i.e., expected volatility) that are disclosed in annual reports. We find that expected volatility predicts near-term and longer-term stock return volatility and earnings volatility incremental...

This paper examines whether customer base composition in the U.S., i.e., whether a firm's major customers comprise of government entities or publicly traded companies, affects the properties of supplier's management earnings forecasts. Using a sample of 1,168 management earnings forecasts from...

We examine how economic downturns affect the value that market participants place on management earnings forecasts. We find that in downturns, news conveyed in management forecasts elicits larger stock price reactions and analyst forecast revisions, suggesting that analysts and investors place...

The Securities and Exchange Commission (SEC) issues comment letters suggesting revisions to firms' tax disclosures with the goal of improving the informativeness of these disclosures. I examine if SEC-prompted revisions to firms' tax disclosures are associated with changes in the informativeness...