We posit and find an effect of disclosure and analyst reporting regulations implemented from 2000 through 2003 (including Regulation Fair Disclosure, the Sarbanes-Oxley Act, and the Global Settlement Act) on the importance of analyst and forecast characteristics for analyst forecast accuracy....

Research on earnings conference calls documents that the question and answer (Q&A) portion is informative to market participants. However, prior studies on earnings calls focus on the attributes of managers and analysts individually. In this study, we use the interaction itself as our unit of...

We examine whether lenders use analyst forecasts of the borrowing firm's earnings when establishing covenant thresholds in private debt contracts. We find greater proximity between the analysts' consensus earnings forecast and the future earnings performance required by the contract among...

We use a large pictorial sample of Chinese financial analysts to test the association between facial width-to-height ratio (fWHR) and performance in men. Financial analysts offer an ideal setting for our investigation because we can objectively track individual analysts' behaviors and...

We examine the information content of earnings components conditional on the existence of misclassification of earnings in the income statement. We develop a vector autoregression (VAR) of a set of accounting variables that accommodates, besides other variables, two components of transitory...

Researchers often do not distinguish non-GAAP exclusions that increase earnings from those that decrease earnings, overlooking the fact that EPS-decreasing exclusions (about one fifth of all analysts’ exclusions) could have different properties and valuation implications. Using both...

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.,...

The purpose of this paper is to determine whether time weighted consensus estimates offer a more effective method for predicting company actual EPS figures than simple mean or median analysis. The study aims to construct a more comprehensive earnings forecast signal using analyst earnings...

Using a novel dataset, we show that components of firms' GAAP earnings stemming from ancillary business activities or transitory shocks are significant in frequency and magnitude. These components have grown over time and are dispersed across various sections of the 10-K. Excluding them from...

This study aims to analyse, within the scope of publicly listed Spanish companies, whether the mandatory implementation of International Financial Reporting Standards (IFRS) has had an effect on financial analysts' earnings forecasts and investments in non-cross-listed Spanish companies (those...