public/IR and the IR function, financial journalists and news reporting, and professional investors and their evaluation …

for compensation on behalf of investors in the absence of shareholders class action, lack of authority to regulate … suggest that adequate investor protection cannot be ensured by regulatory measures alone, investors should be educated to …

usefulness of CER to investors in predicting future earnings. Design/methodology/approach – The paper uses the returns …‐earnings regression model introduced by Collins et al. to examine the importance of CER for investors. It uses a sample of 889 non … useful to investors in anticipating future earnings.  …

managers and investors. It supplements the survey data with secondary information about the companies to better understand … cash to investors, signal undervaluation and influence gearing and earnings per share levels. In the latter case, companies … be a by-product of the former. Private investors may nevertheless be vulnerable to such manipulation, given their limited …

private information are independent. Second, Tunisian investors do not trust the information disclosed in both annual reports … that Tunisian investors are overconfident and rely only on their private information. Practical implications – The paper … need more incentives to disclose more information to investors. Originality/value – This paper, to the authors’ best …