Using a database provided by First Call Corporation, we examine the factors influencing whether a firm voluntarily accelerates the mandatory release of actual earnings via a quot;preannouncement.quot; We find that firms are more likely to preannounce earnings if the consensus of analysts'...

We examine the effects of analysts' celebrity on investor reaction to earnings forecast revisions. We measure celebrity as the quantity of media coverage analysts receive in sources included in the Dow Jones Interactive database, and find that media coverage is positively related to investor...