This study investigates the use of revised analyst forecast information that is released following management disclosures. I extend the prior literature by examining the relationship between the contents of analyst forecast revisions and the content of management disclosures. I provide evidence...

This study investigates the use of revised analyst forecast information that is released following management disclosures. I extend the prior literature by examining the relationship between the contents of analyst forecast revisions and the content of management disclosures. I provide evidence...

We examine how Regulation FD changed analysts' reliance on firms' public disclosure. Regulation FD is associated with a stronger analyst response to earnings announcements, management forecasts and conference calls—that is, analysts respond to these events more quickly, more frequently and...

This paper provides evidence that firms that have consistently met or beaten analysts’ earnings expectations (MBE) provide more frequent “bad news” management forecasts than firms with no established string of MBE, particularly when existing analyst forecasts are optimistic. This suggests...