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' forecasts and the role of firm disclosure about IFRS impact. We find that analyst forecast accuracy improves and there is no … at the end of the transition year with forecast error and dispersion in the adoption year. The results question the …
Persistent link: https://www.econbiz.de/10013150625
Distinct from the literature on the effects that management earnings forecasts (MEFs) properties, such as point, range and qualitative estimations, have on analyst forecasts, this study explores the effects of selective disclosure of MEFs. Under China’s mandatory disclosure system, this study...
Persistent link: https://www.econbiz.de/10011844432
how they plan to achieve their bottom-line earnings targets. We assess the effect of this forecast disaggregation on the …. First, disaggregation plays a more important role when earnings are otherwise more difficult to forecast. Second …
Persistent link: https://www.econbiz.de/10013067301
We examine the impact of financial restatements on managers' subsequent earnings forecasts. We argue that restatements create conflicting incentives. One incentive is to repair manager reputations as information providers by providing more and better guidance via earnings forecasts. The opposing...
Persistent link: https://www.econbiz.de/10013115210
We examine the consequences of a management earnings forecast regulation implemented in a staggered manner. The … stock price informativeness of the directly affected firms that issue a forecast. The regulation also helps increase the …
Persistent link: https://www.econbiz.de/10012893690
We investigate how the accounting treatment of intangible assets on managers' likelihood of issuing voluntary earnings guidance (MEF). We find that unrecognized intangibles (immediately expensed) are negatively associated with MEF issuance, while recognized intangibles (capitalized) show a...
Persistent link: https://www.econbiz.de/10014580183
find that their legal expertise, accounting expertise and foreign experience helps improve management earnings forecast …
Persistent link: https://www.econbiz.de/10012962741
. The failure of management to attain a forecast may reflect poorly on its industry understanding, knowledge of the firm …
Persistent link: https://www.econbiz.de/10012585955
reinforcing and contradicting analyst forecast revisions issued during earnings announcements (days 0 and 1) on the market … response to unexpected earnings. We classify forecast revisions as reinforcing (contradicting) when the sign of analyst … forecast revisions agrees (disagrees) with the sign of unexpected earnings. We document larger (smaller) earnings response …
Persistent link: https://www.econbiz.de/10012856674
investment banking business. Although analysts sacrifice their forecast accuracy by overweighting management guidance, they …
Persistent link: https://www.econbiz.de/10014224196