Auditing standards prescribe that the auditor should consider client management's attitude toward fraud when making fraud risk assessments. However, little guidance is provided in the auditing standards or the existing fraud literature on observable indicators of fraud attitude. We test whether...

The 1990s were characterized by substantial increases in the performance of and investor reliance on financial analysts. Because managers possess superior private information and issue forecasts to align investors' expectations with their own, we predict that managers increased the quality of...

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...

Pownall, et. al. (1993) document that nearly 80% of their sample of voluntary management earnings forecasts are not precise point forecasts. Imprecise forecast forms include closed-interval forecasts (i.e., ranges), open-interval forecasts (i.e., minimums and maximums), and general impressions...

This paper tests McNichols and Trueman's (1994) hypothesis that predisclosure private information acquisition and trading is increasing in the probability of disclosure. Using a pair-matched sample of certain earnings releases and less likely management forecasts, evidence consistent with the...

Using a sample of 856 management earnings forecasts, we provide evidence that managers release larger shock earnings forecasts in nontrading periods. Our results do not depend on whether the magnitude of the shock is measured exogenously (unexpected accounting earnings) or endogenously (security...

Citing fear of legal liability as a partial explanation, prior research documents (1) managers' reluctance to voluntarily disclose management earnings forecasts, and (2) higher forecast disclosure frequencies in periods of bad news. We provide evidence on how management earnings forecast...