KEUNG, EDMUND; LIN, ZHI-XING; SHIH, MICHAEL - In: Journal of Accounting Research 48 (2010) 1, pp. 91-121
<heading id="h1" level="1" implicit="yes" format="display">ABSTRACT</heading>This study shows that firms collectively incur a cost for managing earnings and analyst expectations to meet earnings forecasts. We compare the coefficient in the regression of abnormal stock returns on earnings surprise (the earnings response coefficient [ERC]) across ranges of earnings...
