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Determinants of profit forecast by analysts Tunisians
Boudiche, Myriam - 2013
This article aims to highlight the degree of suitability of theinformation issued in the annual report with the conception ofthe usefulness of 49 volunteers and forecast information byTunisian financial analysts. Our questionnaire with 50 financialTunisian analysts aims to analyze the degree of...
Persistent link: https://www.econbiz.de/10009778296
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The nexus between analyst forecast dispersion and expected returns surrounding stock market crashes
Chong, Terence Tai-Leung; Wang, Xiaolei - In: Journal of risk and financial management : JRFM 2 (2009) 1, pp. 75-93
The performance of analysts’ forecasts has attracted increasing attention in recent years. However, as yet, no empirical study has investigated the nexus between the analyst forecast dispersion (AFD) and excess returns surrounding stock market crashes in any depth. This paper attempts to fill...
Persistent link: https://www.econbiz.de/10011556115
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Loan loss provisions and return predictability : a dynamic perspective
Gao, Phoebe; Lim, Chu Yeong; Liu, Xiumei; Zeng, Cheng - In: China journal of accounting research : CJAR 15 (2022) 2, pp. 1-20
This paper examines the impact of loan loss provisions (LLPs) on return predictability during 1994-2017. We find that on average, LLPs are negatively associated with one year ahead stock returns. This effect is particularly significant during the global financial crisis but much weaker during...
Persistent link: https://www.econbiz.de/10013269515
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Accounting standard changes and foreign analyst behavior : evidence from China
Wang, Yutao; Hou, Yu; Chen, Xiaolin - In: China journal of accounting research : CJAR 5 (2012) 1, pp. 27-43
This study investigates changes in foreign analyst behavior before and after Chinese New Accounting Standards was implemented during 2007. The empirical results show that after the new accounting standards were implemented, forecast error among foreign analysts decreased in both absolute and...
Persistent link: https://www.econbiz.de/10011824957
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Management earnings forecasts and analyst forecasts : evidence from mandatory disclosure system
Wang, Yutao; Chen, Yunsen; Wang, Juxian - In: China journal of accounting research : CJAR 8 (2015) 2, pp. 133-146
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
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Big data, accounting information, and valuation
Nissim, Doron - In: The Journal of finance and data science : JFDS 8 (2022), pp. 69-85
This paper reviews research that uses big data and/or machine learning methods to provide insight relevant for equity valuation. Given the huge volume of research in this area, the review focuses on studies that either use or inform on accounting variables. The article concludes by providing...
Persistent link: https://www.econbiz.de/10014433769
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Timely loss recognition and termination of unprofitable projects
Srivastava, Anup; Sunder, Shyam V.; Tse, Senyo - In: China journal of accounting research : CJAR 8 (2015) 3, pp. 147-167
Ideally, firms should discontinue projects that become unprofitable. Managers, however, continue to operate such projects because of their limited employment horizons and empire-building motivations (Jensen, 1986; Ball, 2001). Prior studies suggest that timely loss recognition in accounting earnings...
Persistent link: https://www.econbiz.de/10011844455
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Does target firm's earnings management affect shareholder's gains? : evidence from China
Mughal, Azhar; Haque, Abdul; Zahid, Zohaib; Ali, Furman; … - In: Credit and capital markets : Kredit und Kapital 55 (2022) 2, pp. 203-226
This study tests the hypothesis that the target firms are involved in earnings management activities in quarters leading to a takeover announcement. Using a sample of 3,455 Chinese listed firms that are targets of successful acquisitions over the period 2007-2020, and for a matched sample of...
Persistent link: https://www.econbiz.de/10014518537
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A theory of entrepreneurial overconfidence, effort, and firm outcomes
Everett, Craig R.; Fairchild, Richard J. - In: Journal of entrepreneurial finance : JEF ; official … 17 (2015) 1, pp. 1-26
firm outcomes, such as acquisition or IPO. In our model, increasing overconfidence produces two conflicting effects on the …
Persistent link: https://www.econbiz.de/10011992244
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Institutional investors' response to earnings management before initial public offering in poland
Bukalska, Elżbieta; Sosnowski, Tomasz; … - In: Prague economic papers : a bimonthly journal of … 32 (2023) 1, pp. 45-60
offered in initial public offering (IPO). The sample consists of 258 Polish new stock companies over the period 2005-2020. We … find that such companies refrain from massive earnings management in the pre-IPO period: both real and accrual …-based. However, we find evidence that the presence of institutional investors in the IPO is related to earnings inflation (selling …
Persistent link: https://www.econbiz.de/10014516183