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Information-relevance of analyst expectations : evidence from forecasts of earnings and cash flows
Lim, Tiong Kiong; Ariff, Mohamed; Skully, Michael T. - In: Malaysian journal of economic studies 40 (2003) 1/2, pp. 61-88
Persistent link: https://www.econbiz.de/10003361762
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Do Analysts Strategically Provide Cash Flow Forecasts? A Multi-Theory Multi-Methods Study
Yoo, Choong-Yuel - 2011
forecast revisions in an effort to diminish the negative impact on themselves of releasing bad (i.e. negative or downward) news … in their earnings forecast revisions. Our results suggest that analyst decisions to issue cash flow forecasts are akin to …
Persistent link: https://www.econbiz.de/10013117913
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Do Analysts Use Their Cash Flows Forecasts When Setting Target Prices?
Hashim, Noor - 2012
This study examines whether analysts' decisions to issue cash flows forecasts depend endogenously on their decision to use these forecasts to set target prices. An endogenous switching regression model, with analyst report regimes of disclosure and non-disclosure of cash flow forecasts, shows...
Persistent link: https://www.econbiz.de/10013104027
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Are Analysts’ Cash Flow Forecasts Naive Extensions of Their Own Earnings Forecasts?
Call, Andrew C. - 2012
and magnitude of accruals. Finally, we find a significant market reaction to analysts' cash flow forecast revisions …
Persistent link: https://www.econbiz.de/10013105787
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The Quality of Analysts' Cash Flow Forecasts
Givoly, Dan - 2009
and improve at a slower rate during the forecast period. Further, cash flow forecasts appear to be a naïve extension of …
Persistent link: https://www.econbiz.de/10013158692
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Biases in Analysts' Multiyear Forecasted Income Statements, Balance Sheets, and Cash Flow Statements
Hand, John R. M. - 2017
and all common-sized expenses except income tax, which they forecast pessimistically. Analysts are optimistic about both …
Persistent link: https://www.econbiz.de/10012951937
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Bond Analysts' Forecasts on Cash Flows and Earnings
Kim, Robert - 2015
(earnings) forecasts. Finally, we show that bond investors' reaction to bond analysts' cash flow forecast revision is greater … than that to bond analysts' earnings forecast and that bond market reacts only to bond analysts' forecast revisions but not … to equity analysts' forecast revisions. This manifests bond investors' stronger demand for reliable information on future …
Persistent link: https://www.econbiz.de/10013019557
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Do Analysts’ Cash Flow Forecasts Improve the Accuracy of Their Target Prices?
Hashim, Noor - 2016
Current evidence on the sophistication of analysts' cash flow forecasts is ambiguous. For example, Call et al. (2009) show that issuing cash flow forecasts has important benefits for analysts' earnings forecasts, while Givoly et al. (2009) question the validity of this result, arguing that...
Persistent link: https://www.econbiz.de/10012988560
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Do Analysts’ Cash Flow Forecasts Improve the Accuracy of Their Target Prices?
Hashim, Noor - 2016
Current evidence on the sophistication of analysts' cash flow forecasts is ambiguous. For example, Call et al. (2009) show that issuing cash flow forecasts has important benefits for analysts' earnings forecasts, while Givoly et al. (2009) question the validity of this result, arguing that...
Persistent link: https://www.econbiz.de/10012988890
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The predictive ability of quarterly financial statements
Zhou, Hui; Maneesoonthorn, Worapree; Chen, Xiangjin B. - In: International Journal of Financial Studies : open … 9 (2021) 3, pp. 1-17
A fundamental role of financial reporting is to provide information useful in forecasting future cash flows. Applying up-to-date time series modelling techniques, this study provides direct evidence on the usefulness of quarterly data in predicting future operating cash flows. Moreover, we show...
Persistent link: https://www.econbiz.de/10012631876