The implications of firms' derivative usage on the frequency and usefulness of management earnings forecasts

• المؤلفون الرئيسيون: CAMPBELL, John L., CAO, Sean Shun, CHANG, Hye Sun, CHIOREAN, Raluca
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2023
• الموضوعات: derivatives; voluntary disclosure; management earnings forecasts; path analysis; earnings volatility; career concerns; investor demand; FAS 161; empirical evidence; uninformative forecasts; managerial career concerns; Accounting
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/soa_research/2030; https://ink.library.smu.edu.sg/context/soa_research/article/3057/viewcontent/Contemporary_Accting_Res___2023___Campbell___The_implications_of_firms_derivative_usage_on_the_frequency_and_usefulness_of.pdf
• المؤسسة: Singapore Management University

We investigate how firms' use of derivatives impacts voluntary disclosure and offer four main findings. First, we find that when firms begin using derivative instruments, they increase the frequency of management earnings forecasts. Second, using path analysis, we find a direct link between der...