Do Management EPS Forecasts Allow Returns to Reflect Future Earnings? Implications for the Continuation of Management’s Quarterly Earnings Guidance

• المؤلفون الرئيسيون: CHOI, Jong-Hag, MYERS, Linda, ZANG, Yoonseok, ZIEBART, Dave
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2011
• الموضوعات: Management forecasts; Future earnings response coefficient (FERC); Earnings guidance; Forecast characteristics; Accounting; Corporate Finance
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/soa_research/140; https://ink.library.smu.edu.sg/context/soa_research/article/1139/viewcontent/SSRN_id1439023.pdf
• المؤسسة: Singapore Management University

Using 18,253 firm-year observations from 1998 through 2003, we build on literature suggesting that more informative disclosures allow returns to better reflect future earnings, and test whether management earnings per share forecasts and their characteristics influence the future earnings response c...