Choi, Heeick; Lee, SeungWon; Suk, Inho; Zhang, Hao - In: Journal of accounting and public policy 51 (2025), pp. 1-20
We examine whether product advertising provides value-relevant information that enables financial analysts to make … better earnings and sales forecasts. Our analysis reveals that a firm’s product advertising intensity is positively related … analysis identify the causal relationship. Additionally, the effect of advertising on analyst forecast quality is stronger when …