Showing 1 - 10 of 441
We investigate whether firms' tax planning affects the accuracy of analysts' forecasts. Tax planning can exacerbate the complexity of firms' operations through strategic choices to exploit tax laws. Because of its effect on firms' operations, tax planning can influence analysts' efforts to...
Persistent link: https://www.econbiz.de/10012897931
This study examines whether firms manage earnings to meet analyst forecasts to signal superior future performance. Prior research finds that firms use earnings management to just meet analyst forecasts and that these firms have a positive association with future performance (Bartov et al.,...
Persistent link: https://www.econbiz.de/10013033202
This paper revisits two valuation models based on accounting figures: the Residual Income Valuation (RIV) and Abnormal Earnings Growth (AEG). Our research design has two approaches: i) we demonstrate theoretical integration of both models; and ii) we show in a practical manner that models...
Persistent link: https://www.econbiz.de/10013018528
We examine the sophistication of analysts' cash flow forecasts to better understand what accrual adjustments, if any, analysts make when forecasting cash flows. As a preliminary step, we first demonstrate that prior empirical tests used to evaluate the sophistication of analysts' cash flow...
Persistent link: https://www.econbiz.de/10013105787
This study examines the effects of gender on executive financial decision-making as it relates to management earnings forecast error. The primary question addressed is: do female and male executives behave differently when issuing management earnings forecasts? Additionally, the following...
Persistent link: https://www.econbiz.de/10013106753
Recent research finds that analysts' cash flow forecasts have meaningful financial reporting ramifications, but to date, the identified effects are unlikely to yield meaningful cash flow benefits. This study examines whether analysts' cash flow forecasts encourage managers to enhance the firm's...
Persistent link: https://www.econbiz.de/10013088702
Equity analysts' earnings forecasts exclude dirty surplus income items, otherwise known as other comprehensive income (OCI). However, OCI affects firm value on a dollar-for-dollar basis and can enhance investors' understanding of the value and risk of firms' equity capital. Focusing on financial...
Persistent link: https://www.econbiz.de/10011574362
We provide new evidence about how analysts incorporate and improve on management ETR forecasts. Quarterly ETR reporting under the integral method provides mandatory point-estimate forecasts by management, but firms must record certain “discrete” tax items fully in the quarter they occur,...
Persistent link: https://www.econbiz.de/10012972358
This study examines whether the information on capitalization of intangible assets improves the precision of analysts' forecasts after the adoption of IFRS 3 and IAS 38 for Asian firms. In addition, we investigate whether the forecast relevance of intangible assets information guided by IFRS 3...
Persistent link: https://www.econbiz.de/10013003808
In this study we examine whether managers' voluntary forecasts of future earnings are consistent with the implicit forecasts of future earnings that underlie a specific mandatory accrual, the valuation allowance. This accrual relies heavily on managerial estimation and is also based, in part, on...
Persistent link: https://www.econbiz.de/10012992230