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Understanding Analysts' Use and Under-Use of Stock Returns and Other Analysts' Forecasts when Forecasting Earnings

Clement, Michael B.; Hales, Jeffrey; Xue, Yanfeng - 2015

In this study, we examine how analysts are affected by the public actions of investors and other analysts by closely examining how analysts revise their earnings forecasts after an earnings announcement. In particular, we hypothesize that analysts observe the actions of investors and other...

Persistent link: https://www.econbiz.de/10014224917

Accounting Policy Disclosures and Analysts' Forecasts

Hope, Ole-Kristian - 2003

Using an international sample, I investigate whether the extent of firms' disclosure of their accounting policies in … - level variables, I find that the level of accounting policy disclosure is significantly negatively related to forecast … dispersion and forecast error. In particular, I find that accounting policy disclosures are incrementally useful to analysts over …

Persistent link: https://www.econbiz.de/10014113741

Changes in Analysts' Information Around Earnings Announcements

Barron, Orie E.; Byard, Donal; Kim, Oliver - 2002

positing that an important role of accounting releases is to trigger the generation of idiosyncratic information by elite …

Persistent link: https://www.econbiz.de/10014114630

Do Analysts and Auditors Use Information in Accruals?

Bradshaw, Mark T; Richardson, Scott A.; Sloan, Richard G. - 2004

Existing research indicates that firms with high accruals are more likely to experience future earnings problems, but that investors' expectations, as reflected in stock prices, do not appear to anticipate these problems. In this paper, we directly examine the published opinions of two types of...

Persistent link: https://www.econbiz.de/10014123044

Corporate Disclosure Quality and Properties of Analysts' Information Environment

Byard, Donal; Shaw, Kenneth W. - 2003

analysts' common and idiosyncratic information. These findings are due to higher quality annual and quarterly accounting …

Persistent link: https://www.econbiz.de/10014075595

Making Sense of Cents : An Examination of Firms that Marginally Miss or Beat Analysts Forecasts

Bhojraj, Sanjeev; Hribar, Paul; Picconi, Marc - 2009

This paper examines the role of earnings quality in the future performance of firms that marginally miss or beat analysts' forecasts. We focus primarily on two groups of firms: those that miss their forecast but appear not to have attempted to exceed it by managing earnings, and those that...

Persistent link: https://www.econbiz.de/10014079305

A League of Their Own? Financial Analysts' Responses to Restatements and Corrective Disclosures

Griffin, Paul A. - 2008

This study examines the response of First Call financial analysts to company restatements and corrective disclosures that lead to an allegation of securities fraud and compares this with the response of three other informed investor groups - insiders, short sellers, and institutions. The sample...

Persistent link: https://www.econbiz.de/10014081175

Disclosure Practices, Enforcement of Accounting Standards and Analysts' Forecast Accuracy : An International Study

Hope, Ole-Kristian - 2003

the level of annual report disclosure; and between forecast accuracy and the degree of enforcement of accounting standards … follow prescribed accounting rules, which, in turn, reduces analysts' uncertainty about future earnings. I also find evidence … more choice among accounting methods is allowed …

Persistent link: https://www.econbiz.de/10014101903

A League of Their Own? Financial Analysts' Responses to Restatements and Corrective Disclosures

Griffin, Paul A. - 2008

While much has been written about the ability of financial analysts to predict periodic earnings, little has been documented on the behavior of analysts around irregular events. Such events can have significant effects on earnings and market capitalization. This study examines the response of...

Persistent link: https://www.econbiz.de/10014110736

The Spillover Effects of Management Overconfidence on Analyst Forecasts

Kramer, Lisa A. - 2017

Overconfident CEOs are known to overestimate their ability to generate returns, overpay for target firms, and take excessive risks. We find a CEO's overconfidence can also indirectly affect other market participants, specifically analysts who issue earnings forecasts. First, firms with...

Persistent link: https://www.econbiz.de/10012967489