Search Results - subject:"analysts' forecasts"

CEO bonus compensation: the effects of missing analysts’ revenue forecasts

Edmonds, Christopher; Leece, Ryan; Maher, John - In: Review of Quantitative Finance and Accounting 41 (2013) 1, pp. 149-170

We investigate the incremental contract relevance of analysts’ revenue forecasts while controlling for earnings forecasts and find CEOs receive smaller bonuses when missing analysts’ annual and quarterly revenue expectations. Our results support the link between the value relevance of the...

Persistent link: https://www.econbiz.de/10010989619

Does information risk affect the implied cost of equity capital? An analysis of PIN and adjusted PIN

Hwang, Lee-Seok; Lee, Woo-Jong; Lim, Seung-Yeon; Park, … - In: Journal of Accounting and Economics 55 (2013) 2, pp. 148-167

Using a unique dataset of Korean listed companies for which trade initiators are correctly identifiable, we estimate bias-free PIN (probability of informed trading) that is no longer subject to the trade misspecification problem and test whether it is related to expected returns. Unlike prior...

Persistent link: https://www.econbiz.de/10010664194

A Meta-analysis of IFRS Adoption Effects

Ahmed, Kamran; Chalmers, Keryn; Khlif, Hichem - In: The International Journal of Accounting 48 (2013) 2, pp. 173-217

The adoption of IFRS around the globe has stimulated empirical research that investigates the financial reporting and capital market effects associated with an accounting regime change. These studies differ in their analysis period, jurisdictional setting, and research design, and they report...

Persistent link: https://www.econbiz.de/10010665725

Are analysts' forecasts informative to the general public?

Altınkılıç, Oya; Balashov, Vadim S.; Hansen, Robert S. - In: Management science : journal of the Institute for … 59 (2013) 11, pp. 2550-2565

Persistent link: https://www.econbiz.de/10010229343

CEO bonus compensation : the effects of missing analysts' revenue forecasts

Edmonds, Christopher T.; Leece, Ryan D.; Maher, John J. - In: Review of quantitative finance and accounting 41 (2013) 1, pp. 149-170

Persistent link: https://www.econbiz.de/10009775635

Assessing earnings management flexibility

Choy, Hiu Lam - In: Review of Accounting and Finance 11 (2012), pp. 340-376

measure on a firm's probability of meeting/beating analysts' forecasts is not observed in the extended sample period … examined how well this measure captures flexibility by investigating its effect on a firm's probability of meeting analysts …' forecasts. Findings – The results show that this flexibility measure better captures the firm-specific flexibility than that of …

Persistent link: https://www.econbiz.de/10010814969

Incentive to manipulate earnings and its connection to analysts’ forecasts, trading, and corporate governance

Igan, Deniz; Pinheiro, Marcelo - In: Journal of Economics and Finance 36 (2012) 4, pp. 781-821

governance. We show how earnings manipulation affects analysts’ forecasts and institutional trading. More precisely, whenever …

Persistent link: https://www.econbiz.de/10010998985

Mandatory IFRS adoption and its impact on analysts' forecasts

Jiao, Tao; Koning, Miriam; Mertens, Gerard; Roosenboom, … - In: International Review of Financial Analysis 21 (2012) C, pp. 56-63

This paper examines the effect of the mandatory adoption of International Financial Reporting Standards (IFRS) on financial analysts' ability to translate accounting information into forward looking information. In particular, we investigate whether the switch to IFRS has an impact on (1) the...

Persistent link: https://www.econbiz.de/10010582649

Assessing earnings management flexibility

Lam Choy, Hiu - In: Review of Accounting and Finance 11 (2012) 4, pp. 340-376

Persistent link: https://www.econbiz.de/10014989646

Do financial analysts' long-term growth forecasts matter? Evidence from stock recommendations and career outcomes

Jung, Boochun; Shane, Philip B.; Sunny Yang, Yanhua - In: Journal of Accounting and Economics 53 (2012) 1, pp. 55-76

Prior literature portrays long-term growth (LTG) forecasts as nonsensical from a valuation perspective. Instead, we hypothesize that LTG forecasts signal high effort and ability to analyze firms' long-term prospects. We document stronger market response to stock recommendation revisions of...

Persistent link: https://www.econbiz.de/10010572413