We investigate whether management forecast accuracy provides a signal regarding CEOs' ability to anticipate and respond to future events by examining the relation between management forecast errors and CEO turnover. We find that the probability of CEO turnover is positively related to the...

We test predictions that managers issuing voluntary capex guidance learn from analyst feedbackand that this learning enhances investment efficiency and firm performance (Langberg andSivaramakrishnan, 2010). Our findings are consistent with these predictions. First, we find thatmanagers' capex...